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QUOTED
“LNG is where GCC investors, who already have significant US gas interests, may invest further, according to analysts. Worldwide, demand for the relatively clean-burning fuel will rise by around 60 percent by 2040, according to Shell. Meanwhile Russia, a major exporter, is likely to be excluded for the foreseeable future. The US is not just the world’s largest exporter, having stepped into the European market, but it is also the most efficient producer.” US energy push bodes well for GCC’s LNG interests [Arabian Gulf Business Insight]
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TOP STORY
According to Newsweek’s 2025 ranking of the world’s best hospitals, King Faisal Specialist Hospital & Research Centre (KFSHRC) was named the top hospital in Saudi Arabia for the fourth consecutive year while also making the list of the top 250 hospitals worldwide. [more]
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MORE TOP STORYLINES
Via Natasha Turak in cnbc.com: Saudi state oil producer Aramco reported on Tuesday a decline in net profit to $106.2 billion in 2024, down from $121.3 billion in 2023. The company said it expects total dividends for 2025 of $85.4 billion — a significant fall from 2024′s total of $124.2 billion. This comes as it cut its total payout for the fourth quarter. The oil giant said its base dividend for the final three months of the year would be increased to $21.1 billion, but its performance-linked payout would be just $200 million. This compares to a third-quarter base dividend of $20.3 billion and a performance-linked dividend of $10.8 billion. Lower oil prices hit the company’s net profit last year as crude production around the world increased and demand slowed. Amarco’s realized oil price — the final price the company receives for selling its crude after accounting for transport costs and other factors — dropped to $80.2 per barrel in 2024 from $83.6 the year prior.
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Via Gavin Gibbon in agbi.com: Staffing levels in Saudi Arabia surged in February as companies prepare for growth opportunities ahead. But it was a different story in neighbouring Kuwait and Egypt where jobs were lost in the face of a slowdown in new orders, according to the latest business sentiment surveys. Employment numbers in Saudi Arabia increased at the quickest rate in 16 months in February. The manufacturing and services sector in particular experienced significant growth, according to the seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI), a monthly indicator of conditions in the non-oil economy. The index fell from a decade-high of 60.5 in January to 58.4 last month, but remains well above the 50.0 mark that separates economic growth from contraction.
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Via Andrea Barone, Anila Graupp and Samia Melhem in worldbank.org: Since 2019, the World Bank has been actively engaged with Saudi authorities to enhance the Kingdoms digital sector, and with AI adoption spreading at breakneck speed across the globe, this work continues. Our collaboration has aimed to transform the way people in Saudi Arabia experience everyday online transactions and engage with government services through partnership and technical assistance with four key digital authorities: 1) the Ministry of Communications and Information Technologies (MCIT), 2) the Saudi Digital Government Authority, 3) the Saudi Data and Artificial Intelligence Authority, and 4) the Digital Cooperation Organization. And tangible results were achieved. For example, Saudi Arabia successfully implemented key reforms that revolutionized the production and delivery of public services through digital means. These reforms have improved back-end operations related to data and information management, streamlined workflows and processes around people’s needs, and enhanced online user interfaces. As a result, Saudi Arabia recently came up number 6 out of 193 countries in the 2024 United Nations E-Government Survey ranking.
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MORE ON THE KINGDOM AND BEYOND
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The Kingdom of Saudi Arabia and the Lebanese Republic affirmed the importance of strengthening Arab action and coordinating positions on key issues in the regional...[via spa.gov]
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Aoun, in his first trip abroad as president, expressed hope that discussions with the crown prince will further enhance cooperation between the two nations. The Lebanese...[By Najia Houssari via arabnews.com]
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Saudi Arabia will review “obstacles” to resuming Lebanese imports and ending a ban on its nationals visiting Lebanon, the two governments said. The announcement was made...[via aljazeera.com]
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Leaders of Saudi Arabia and Lebanon emphasized the importance of enhancing Arab cooperation and coordinating positions on regional and international issues, Saudi state news agency...[via arabnews.com]
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Saudi Aramco expects the total payout to be about $85 billion in 2025, compared with $124 billion last year, it said in a statement...[By Anthony Di Paola via yahoo.com]
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A projected 30 percent drop in Saudi Aramco’s oil dividends in 2025 is likely to force the government and...[By Matt Smith, Eva Levesque, Edmund Bower via agbi.com]
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Since his return to the Oval Office, Donald Trump has moved aggressively to unleash a new era for the American energy...[By Eva Levesque via agbi.com]
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The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait,...[via opec.org]
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The scale of political transformation that took place throughout the democratic world in 2024 will be evident when the Group of Seven (G7) convenes under...[By Landon Derentz, Christine Suh, Paul Kielstra, Bailee Mathews (Editors) via atlanticcouncil.org]
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PIF and Goldman Sachs Asset Management today announced the signing of a non-binding memorandum of understanding (MoU) for PIF to act as a strategic anchor...[via pif.gov]
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Global consulting firm PwC is working with Saudi Arabia and its sovereign wealth fund to address issues that have led to a suspension of...[via internationalaccountingbulletin.com]
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King Faisal Specialist Hospital & Research Centre (KFSHRC) has again secured its position as the top hospital in Saudi Arabia for the fourth consecutive year,...[via kfshrc.edu]
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For years, global brands have entered Saudi Arabia with a simple playbook: translate the tagline, swap in local imagery, and assume what works elsewhere...[By Ishwari Khatu via campaignme.com]
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Saudi Arabia’s General Directorate of Civil Defense has issued a weather warning for most regions of Saudi Arabia, forecasting moderate to heavy rainfall across large parts...[By Khitam Al Amir via gulfnews.com]
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In August, Saudi Arabia introduced China's official language as a compulsory second foreign language after English in six of its 13 administrative regions' schools. Mandarin's entry...[via france24.com]
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The PRIORITY Summit, hosted by the Future Investment Initiative (FII) Institute in Miami, underscored Saudi Arabia's growing influence across geopolitics, finance, technology, and sports. The event...[via yahoo.com]
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Saudi Water Partnership Company (SWPC) announces the signing of agreements of Jubail-Buraydah Independent Water Transmission Pipeline (IWTP) project with the consortium comprising Aljomaih energy &...[via saudigulfprojects.com]
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Ninja, a Saudi Arabia-based quick commerce firm, is in talks with investors to raise funds, potentially valuing the company at over $1 billion. The funding...[via meatechwatch.com]
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Turkish Foreign Minister Hakan Fidan’s warning that Iran will face instability if it makes any destabilizing move in Syria has sparked widespread condemnation in Tehran....[via amwaj.media]
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