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QUOTED
“The Middle East is increasingly emerging as one of the most desirable locations for foreign investors looking to deploy capital, according to a survey that ranks countries most likely to attract money over the next three years. Efforts toward economic diversification and reforms to business policies have helped the United Arab Emirates and Saudi Arabia post the biggest jumps in Kearney’s 2024 Foreign Direct Investment Confidence Index. The countries climbed ten spots from 2023, to eighth for the UAE and 14th for Saudi Arabia.” Christine Burke, Middle East Emerges as Key Region for FDI in Kearney Survey [Bloomberg]
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TOP STORY
Writing in Al-Arabiya, Richard Wilson, SUSTG president and The 966 Co-host, points out the fundamental (rather than flashy) changes that represent Crown Prince Mohammed Bin Salman’s true legacy. [more]
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MORE TOP STORYLINES
in arabnews.com: The Two Holy Mosques have been prepared with with a package of religious services “to enrich the experience of those visiting the mosques and to create a devotional atmosphere filled with reverence and tranquility,” the Saudi Press Agency reported, citing the presidency. Sheikh Abdullah Al-Souli, the supervisor of the affairs of imams and muezzins, guidance and counseling at the presidency, said: “The Presidency of Religious Affairs is fully prepared to receive worshipers for the blessed Eid Al-Fitr prayer, through an integrated religious system that enhances the awareness aspect and guidance of visitors.”
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in forbesmiddleeast.com: Established in 1957, alrajhi bank served more than 15.8 million active customers through 545 branches, including the branches outside Saudi Arabia, as of December 2023. It employs 20,878 people. The bank recorded total assets worth $215.5 billion as of December 2023, with a net profit of $4.4 billion. In March 2023, PIF’s Saudi Real Estate Refinance Company signed a deal with alrajhi bank to refinance more than $1.3 billion in a real estate financing portfolio.
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Via Ciaran Donnelly in evinfocus.com: Red Sea Global will pilot Canoo’s lifestyle vehicle (LV), lifestyle delivery vehicle (LDV) 190, and the Bulldog pickup truck. The Canoo vehicles will be piloted for travel between Red Sea Global’s international airport, its various resorts, facilities, and excursions, Canoo says.
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MORE ON THE KINGDOM AND BEYOND
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US Secretary of State Antony Blinken will visit Israel and Jordan on a trip through Wednesday, the State Department announced, after...[via alarabiya.net]
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Saudi Foreign Minister Prince Faisal bin Farhan and US Secretary of State Antony Blinken discussed on Monday the importance of reaching an “immediate ceasefire” in the...[By Ghinwa Obeid via alarabiya.net]
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Only a real commitment to a two-state solution to the Palestinian-Israeli conflict can prevent the war in Gaza from reoccurring, Saudi Foreign Minister Prince Faisal...[By Zaynab Khoji via arabnews.com]
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Saudi Arabia and the Bill & Melinda Gates Foundation today pledged to work together to help protect 370 million children annually from polio and lift...[via reliefweb.int]
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With geopolitical upheavals and complex economic challenges destabilizing a fractured world, the World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development...[via weforum.org]
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Saudi Arabia on Sunday said the international community has failed Gaza and reiterated its call for a Palestinian state at a global economic summit attended...[via barrons.com]
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Jadaan also called on leaders to “do everything we can” to de-escalate, echoing comments more broadly made by Saudi government officials around...[By Joumanna Bercetche and Mirette Magdy via bloomberg.com]
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“Saudi Vision 2030’s objectives are on track at 87%”, the Saudi minister assured, indicating that there is still a bundle of challenges that requires modifying some projects, accelerating...[via eyeofriyadh.com]
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Saudi Tadawul Group’s shareholders approved the payment of a cash dividend at 23% of capital, or SAR 2.30 a share, for 2023, during the...[via argaam.com]
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The Saudi Seasons, a series of festivals held at different locations in the Kingdom throughout the year, attracts visitors from all over...[By Emilie Davies via linkedin.com]
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The global economy is increasingly influenced by the Group of Twenty’s large emerging markets. Over the past two decades, these economies have become much more...[By Nicolas Fernandez-Arias, Alberto Musso, Carolina Osorio-Buitron, Adina Popescu via imf.org]
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Domestic shocks in emerging economies in the G20 are increasingly impacting growth in the rich world, according to a report published on Tuesday by the...[By Libby George via reuters.com]
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Some civil society groups hoped that President Kais Saied’s 2021 coup and the relative stability that ensued would result in a clear political agenda, and some...[By Mohamed Omar Kardous via csis.org]
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o in traditional steelmaking, iron ore is mined from the ground. That needs to be reduced to iron oxide. So, it’s heated with coal or...[By Britney Nguyen via qz.com]
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On Monday, Germany sent an advance team of 20 soldiers to Lithuania, laying the groundwork for the recently discussed establishment of a permanent brigade...[By Florian Zandt via statista.com]
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