Via Nour Fakharany in archdaily.com: The mosques construction was completed within six months and spearheaded by Wajnat Abdulwahed, the spouse of the late Abdulaziz Abdullah Sharbatly. Aimed at fostering serenity amongst worshipers while integrating natural light, the mosque also features distinctive minarets, creating a landmark within the neighborhood.

Via Maria-Cristina Florian in archdaily.com: Commissioned by Diriyah Company, HKS Architects have revealed the design for a new multisport arena in Diriyah. Envisioned as a catalyst for the local culture and the entertainment sector, the 20,000-seat venue will be located in the center of The City of Earth, a 76,000-square-meter development aligned with Saudi Vision 2030, aimed at becoming one of the most attractive venues for tourism in the Middle East.

Via Mary Clare Jalonick and Ellen Knickmeyer in apnews.com: Schumer, the first Jewish majority leader in the Senate and the highest-ranking Jewish official in the U.S., strongly criticized Netanyahu in a 40-minute speech Thursday morning on the Senate floor. Schumer said the prime minister has put himself in a coalition of far-right extremists and “as a result, he has been too willing to tolerate the civilian toll in Gaza, which is pushing support for Israel worldwide to historic lows.”

Via Jon B. Alterman in csis.org: In fact, what is striking about Israel’s position now is how little vision it has. Netanyahu has promised to eliminate Hamas, but after five months of war he has been unable to articulate either a path toward doing so or a vision of a post-Hamas environment. He has shown no interest in winning over Palestinians to a more palatable set of political aspirations, seeming opting instead to pound them into submission. He has talked loudly about the unacceptability of the Palestinian Authority assuming power in Gaza, but he has put forward no alternative.

in arabnews.com: Saudi Arabia’s sovereign wealth fund has revised its asset size on its website, reaching $925.2 billion, after it climbed to the fifth spot in a ranking of state-owned investment organizations. The significant rise in the Public Investment Fund’s standing follows its procurement of an additional 8 percent stake in Aramco, boosting its shareholding’s estimated value to $328 billion. This acquisition has significantly impacted PIF’s overall assets under management, exceeding $860 billion, a rise from $700 billion by the end of 2022.

Via John Bambridge in meed.com: Riyadh-based Jadwa Investment has now estimated that disruption to commercial shipping in the Red Sea and Gulf of Aden has contributed to a 25-50% construction material price rise in recent weeks. This steep rise comes amid renewed escalation in the Red Sea following a start to the year characterised more by falling risk perceptions due to the heavy build-up of the US-led naval coalition in the area. All of this changed on 18 February with the holing of the UK-owned Rubymar, which sank on 3 March. That ship had been carrying Saudi fertiliser from Dammam to Bulgaria. However, perhaps a more direct concern for the Saudi construction sector is the strike on 6 March of the bulk carrier True Confidence, which came from China loaded with steel and commercial vehicles.

Via Tim Callen in agsiw.org: On March 10, the Saudi General Authority for Statistics released detailed gross domestic product data for Saudi Arabia in the fourth quarter of 2023 (the previously released fourth quarter “flash” estimate contained more limited information). The data confirmed that the Saudi economy contracted in 2023. The 0.8% drop in real GDP (i.e., GDP after accounting for inflation) was largely due to the 9% contraction in the oil sector that followed the production cuts under the OPEC+ agreement. Saudi Arabia’s non-oil sector grew by 3.8% and ended the year on a relatively strong note, with growth accelerating in the fourth quarter relative to the third quarter.

Via Ali Shihabi in arabnews.com: There is a certain amount of confusion among observers about Saudi economic strategy. We can gain clarity on this if we look at the many initiatives of Vision 2030 in the manner that a venture capitalist would look at his portfolio of investments. Doing so, we would see Crown Prince Muhammad bin Salman as placing bets on a large number of sectors, thereby hedging his risks since the economy only needs to win a few of these bets for actual diversification away from oil to take a meaningful step forward.

Via Joseph Haboush in alarabiya.net: The top Saudi diplomat, Prince Faisal bin Farhan, has constantly stressed the importance of taking irreversible steps to implement the two-state solution and to recognize the state of Palestine based on the borders of June 4, 1967, with East Jerusalem as its capital. During his State of the Union address on Thursday night, US President Joe Biden repeated previous comments that the only way for Israel to guarantee its security was through a two-state solution. He added: “There is no other path that guarantees peace between Israel and all of its Arab neighbors, including Saudi Arabia.”

in wamda.com : The Saudi Arabian investment landscape has been thriving in recent years, attracting investors from around the globe. With the introduction of business-friendly reforms and attractive incentives by the Saudi Government, the country has become an increasingly potent and vibrant market for entrepreneurs and investors alike.

Via Tim Callen in agsiw.org: Crown Prince Mohammed bin Salman announced March 7 that a further 8% of Saudi Aramco’s equity has been transferred to the Public Investment Fund. The PIF now holds 16% of Aramco’s equity and the government 82.2%, with the remainder held publicly following the company’s 2019 initial public offering. This latest equity transfer is no surprise given the ambitious target that has been set for growing the PIF’s assets under management. With the equity transfer valued at around 615 billion riyals ($164 billion), the PIF’s assets under management are now likely in excess of 3.3 trillion riyals ($890 billion) and rapidly closing in on the 2025 target of 4 trillion riyals ($1.1 trillion).

in arabnews.com: The fourth Saudi annual national campaign for charitable activities is set to launch on Friday, the Saudi Press Agency reported early Tuesday. Following King Salman‘s approval, the campaign will continue until the end of the holy month of Ramadan. Donations will be received through the secured Ehsan platform at Ehsan.sa or by calling 8001247000. Last year’s campaign in its third edition received more than 10.4 million donations of over SR760 million ($202 million), benefiting more than 398,000 people.

Via James Ellingsworth in apnews.com: Max Verstappen stayed firmly on course for another season of dominance in Formula 1 on Saturday by winning the Saudi Arabian Grand Prix. Even after just two races, and despite turmoil at Red Bull, Verstappen seems in near-total control on the track as he aims for a fourth consecutive title this year. Still, he had to share the attention with 18-year-old Oliver Bearman, who was a surprise seventh in his first F1 race as a Ferrari stand-in

Via Jon Gambrell in apnews.com: The sacred month, which sees those observing abstain from food and water from sunrise to sunset, marks a period of religious reflection, family get-togethers and giving across the Muslim world. Seeing the moon Sunday night means Monday is the first day of the fast. Saudi state television reported that authorities there saw the crescent moon. Soon after, multiple Gulf Arab nations, as well as Iraq, Syria and Egypt followed the announcement to confirm they as well would start fasting on Monday. Leaders also shared messages of congratulations the month had begun.

Via Yousef Saba and Maha El Dahan in reuters.com: Saudi Arabias state-owned oil giant Aramco (2222.SE), opens new tab boosted its dividend despite net profit falling 24.7% to $121.3 billion in 2023 on lower oil prices and volumes, showing the states continued reliance on oil revenue as it seeks to diversify. The profit, down from $161.1 billion in 2022, was still the companys second-highest on record, Aramco said on Sunday as it reported total dividends for the year of $97.8 billion, up 30%. Oil revenues made up 62% of total state revenues last year.