QUOTED

Quoted

“The number of tourists who visited the GCC in 2023 accounted for nearly 52.9 percent of the 128.7 million targeted in 2030. They spent a total $110 billion during that year…the figure accounts for nearly 58.7 percent of the $188 billion targeted in 2030.” Abdullah Al Rubai, Head of the GCC’s Human and Environmental Affairs Sector, GCC aims for $188bln tourism income in 2030 [Zawya]

TOP STORY

President Trump kicks off FII’s Priority Summit in Miami

FII Priority Summit, Miami, 2025

President Donald Trump spoke for an hour kicking off Saudi Arabia’s Future Investment Initiative (FII) Institute’s Priority Summit being held in Miami February 19-21, 2025.  [more]

 

MORE TOP STORYLINES

Trump calls Saudi Arabia a ‘special place with special leaders’

Via Joseph Haboush in alarabiya.net: US President Donald Trump thanked Saudi Arabia on Wednesday for hosting talks between Washington and Moscow last week, calling the Kingdom a “special place with special leaders.” Speaking at the opening of the Future Investment Initiative (FII) Institute, Trump said it was “a tremendous honor” to be the first American president to address the FII Institute. The US president singled out Crown Prince Mohammed bin Salman for his efforts in this regard. “But in particular, we have to thank [Crown] Prince Mohammed bin Salman for hosting these historic talks that went very, very well,” Trump said. Launched in 2017, FII brings together investors, policymakers, government officials and international private sector executives from across the globe.

ACWA to acquire ENGIE’s assets in Bahrain and Kuwait for $693m

in power-technology.com: Saudi Arabia-based energy company ACWA Power has signed a share purchase agreement with the regional subsidiary of French utility developer ENGIE to acquire assets located in Bahrain and Kuwait valued at $693m. The acquisition includes 4.61GW of gas-fired power generation and 1.11 million cubic metres per day of water desalination facilities. ACWA Power will acquire ENGIE’s shares in four key operating assets. The Bahrain assets are an 18% stake in the Az Zour North in Kuwait, 45% stakes in both the Al Ezzel and Al Dur projects, and a 30% stake in the Al Hidd facility. The expansion aligns with ACWA Power’s strategy to triple its assets under management to $250bn by 2030.

Multinational Exercise Spears of Victory 2025 in Saudi Arabia Concludes

Via Stefano DUrso and Rin Sakurai in theaviationist.com: The Saudi Arabian annual multinational exercise, Spears of Victory, was held this year from Jan. 26 to Feb. 6 by the Royal Saudi Air Force’s (RSAF) Air Warfare Center, located at King Abdulaziz air base near Dhahran. The exercise is considered one of the largest multinational exercises in the Middle East and aims to strengthen military partnerships, with 15 nations involved. RSAF Maj. Gen. Mohammed bin Ali Al-Omari, the commander of the exercise, said that the aim was to enhance allied combat readiness (especially in the electronic warfare field), provide a ground for the exchange of expertise in planning and implementation, and to promote joint operational strategies. This year, more than 70 air assets from nine countries took part in the large-scale exercise: Saudi Arabia, Bahrain, Greece, France, Qatar, the UK, the US, the UAE, and Pakistan. Furthermore, seven additional countries participated as observers: Australia, Egypt, Italy, Jordan, Morocco, South Korea, and Spain.

 

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HRSD Ministry says amendments to Labor Law take effect today

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