QUOTED

Quoted

“In 2022, 18 million trees had already been planted. By December 2023, this number had risen to 43.9 million trees and shrubs planted. This equates to 94,000 hectares of degraded land (equivalent to over 146,000 football fields) rehabilitated throughout the country. By 2030, over 600 million trees are expected to be planted – equating to 3.8m hectares of rehabilitated land. Tree planting will continue beyond 2030, to reach the 10 billion target.” Saudi Arabia is planting 10 billion trees across the Kingdom [LinkedIn]

 

 

TOP STORY

Saudi Car Market: Tops GCC, women purchase 30% of cars sold in 2023

Toyota Yaris

In 2023, Saudi Arabia sold 729,466 cars, a 17% increase from the previous year. The Toyota Yaris was the best-selling car, accounting for 37% of the sales. Car sales are expected to surge to 870,000 this year. [more]

 

MORE TOP STORYLINES

The Emergent Gulf Sovereign Wealth Fund-Global Tech Nexus

Via Robert Mogielnicki in agsiw.org: These efforts are not just garnering global attention but also – in some cases – paying off. On April 15, Microsoft announced a $1.5 billion strategic investment in G42 for a minority stake and Microsoft’s vice chair and president, Brad Smith, joining the Emirati company’s board. At Saudi Arabia’s annual tech-focused LEAP conference, Amazon Web Services announced plans to spend $5.3 billion to create a new infrastructure region in the kingdom. Gulf countries are racing to build data centers with the help of local, Asian, and Western companies.

Saudi Arabia Posts Budget Deficit as Capex Spending Climbs

Via Christine Burke in bloomberg.com:

Saudi Arabia recorded a sixth straight quarterly budget deficit as increased spending on capital expenditure and other areas outpaced growth in revenue.

The shortfall stood at 12.4 billion riyals ($3.3 billion) in the first quarter, more than four times higher than a year ago, according to a statement from the Ministry of Finance on Sunday. On a quarterly basis, the deficit eased from about 37 billion riyals at the end of 2023.

Oil climbs as Gaza tensions rise, Saudi Arabia hikes prices

Via Noah Browning:

Oil futures climbed on Monday after Saudi Arabia hiked June crude prices for most regions and as the prospect of a Gaza ceasefire deal appeared slim, renewing fears the Israel-Hamas conflict could still widen in the key oil-producing region.
Brent crude futures were up 77 cents, or 0.9%, to $83.73 a barrel at 1055 GMT, while U.S. West Texas Intermediate crude futures were at $78.98 a barrel, up 87 cents, or 1.1%.

 

MORE ON THE KINGDOM AND BEYOND

What to expect from Saudi Arabia’s first Red Sea Fashion Week

Riyadh Fashion Week launched in 2023. And most recently, Lebanese designer Rami Kadi took a leaf out of the Dolce & Gabbana...[By Sarah Maisey via thenationalnews.com]

 

Saudi Interior Ministry launches digital ID service for Hajj pilgrims

The Ministry of Interior launched the digital identity service for the Hajj pilgrims, who are arriving in the Kingdom from all over the world to...[via saudigazette.com]

 

Dubai Advisory Setting Up Shop in Saudi Arabia Upbeat on FDI

In a sign of the need for more capital, executives from so-called giga projects like Neom and Qiddiya were out in...[By Nicolas Parasie and Joumanna Bercetche via bloomberg.com]

 

Saudi women are learning financial literacy and it’s helping the country grow

While economic growth might be the overarching national motivation, international organizations are building programs that seek to empower individuals as well. The International Monetary Fund and ...[By Hanaa Almoaibed via atlanticcouncil.org]

 

Shamoon virus returns in Saudi computer attacks after four-year hiatus

Shamoon, the destructive computer virus that four years ago crippled tens of thousands of computers at Middle...[By Jim Finkle, Tom Finn and Jeremy Wagstaff via reuters.com]

 

Princess Nourah University Organizes Scientific Conference on Conveying Saudi Identity across Languages, Cultures

The conference aimed to contribute to achieving the first goal of the Saudi Vision 2030 related to enhancing Islamic values and national identity by conveying...[via spa.gov]

 

Saudi Arabia’s holdings in US treasuries rise to $135.9bn

Saudi Arabia’s holdings in US treasuries increased for the eighth consecutive month in March, reaching $135.9 billion, a rise of 3.66 percent compared to the...[via arabnews.com]

 

Saudi Arabia offers to buy part of Sharm El Sheikh from Egypt

Ras Ghamila, which lies at the northern end of Sharm El Sheikh, is one of the resort town’s more upmarket locations, around 15km north of...[By Mark 'Crowley' Russell via divemagazine.com]

 

L&T arm opens new manufacturing facility in Saudi Arabia

Larsen & Toubro on Thursday said its wholly-owned arm L&T Valves Ltd has set up a new manufacturing unit in Saudi Arabia. The facility is...[via moneycontrol.com]

 

Baker Hughes To Expand Saudi Arabia Facility

Baker Hughes is expanding its Industrial & Energy Technology (IET) Damman Center in Dammam, Saudi Arabia. Once completed, the expansion is expected to create 60...[via gascompressionmagazine.com]

 

Saudi holdings of US Treasuries rose to $135.9B in March 2024

Saudi Arabia’s holdings of US Treasuries reached $135.9 billion in March 2024, up $4.8 billion month-on-month (MoM), new data released by the US Treasury showed. The Kingdom maintained...[via argaam.com]

 

HRH Minister of Energy meets with US Secretary of Energy and they sign a roadmap for cooperation in the field of energy

Within the context of the Partnership for Advancing Clean Energy Agreement, signed by the Kingdom of Saudi Arabia and the United States of America, in...[via moenergy.gov]

 

Multilingual Saudi women welcoming Hajj pilgrims at Medina airport sparks social media buzz

Saudi Arabia is set to welcome Hajj pilgrims with a multilingual team of women at Prince Mohammed bin Abdul Aziz International Airport in Medina. ...[By Khitam Al Amir via gulfnews.com]

 

Calls for change mount as Saudi lady doctor dies in car crash post her 24-hour shift

The Saudi medical community has mourned the loss of Dr. Aziza Fatani, a dedicated neonatal intensive care doctor who died in a car accident...[By Khitam Al Amir via gulfnews.com]

 

The Future of EV Charging: Spotlight on the UAE and Saudi Arabia

KSA has also made several high-profile investments through its sovereign wealth fund, the Public Investment Fund (“PIF”). In 2023, PIF and Saudi Electricity Company established...[By Mhairi Main Garcia via wfw.com]

 

Zain invests $427mn to expand 5G, digital services in Saudi Arabia

Saudi telco Zain KSA announced plans to invest a total of SAR1.6 billion ($427 million) to expand its 5G network and digital services ecosystem...[By Juan Pedro Tomás via rcrwireless.com]

 

Opinion: The Gaza Crisis Pushes Washington and Riyadh Closer

Riyadh wants to conclude defense agreements and to advance regional peacemaking, but when it comes to Netanyahu’s government, it has no peace partner. On the...[By Daniel Brumberg via arabcenterdc.org]

 

Commentary: Religious tolerance is at the core of the Gulf’s strategic thinking

It has become fashionable for many modern secularists to demonise religion as being a major barrier to peace. When they learn someone...[By Omar Al-Ubaydli via thenationalnews.com]

 

Saudi experts on urban heritage give lectures in Paris

Experts on urban heritage from Saudi Arabia are giving a series of lectures on the topic at the UN Educational, Scientific and Cultural Organization offices...[By Sulafa Alkhunaizi via arabnews.com]

 

This 256 km highway in Saudi Arabia is world’s longest road without a bend

Saudi Arabia's Highway 10 has emerged as the world's longest straight road, surpassing Australia's Eyre Highway, according to the Guinness World Records. This achievement marks...[via indianexpress.com]

 

U.S. tells Qatar to evict Hamas if it obstructs Israeli hostage deal

Secretary of State Antony Blinken delivered the message to Prime Minister Mohammed bin Abdulrahman...[By Missy Ryan, John Hudson and Susannah George via washingtonpost.com]

 

Perspective: Unfairly Maligned? The Cost of Mediation on Qatar-U.S. Relations

Moreover, many of Qatar’s past actions toward Gaza that voices within the United States and Israel now denounce were implemented at the behest of officials...[By Banafsheh Keynoush via gulfif.org]

 

EU announces 1 billion euros in aid for Lebanon amid a surge in irregular migration

The European Union announced Thursday an aid package for Lebanon of 1 billion euros — about $1.06 billion — much of which will go to...[By Abby Sewell via apnews.com]

 

Despite Oct. 7, Netanyahu is determined to run for reelection, and certain he can win

Netanyahu believes that Israel is in the midst of a war that will last for many years to come and that only he is fit...[By Shalom Yerushalmi via timesofisrael.com]

 
 

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