in arabnews.com: Saudi Crown Prince Mohammed bin Salman has invited the leaders of Gulf Cooperation Council countries, Jordan, and Egypt for a meeting in Riyadh on Friday, an official source stated on Thursday. The informal gathering follows similar meetings that have been held periodically for many years between the leaders of GCC countries, Jordan, and Egypt, enhancing cooperation and coordination. “Joint Arab action and any relevant decisions will be included in the agenda of the upcoming Extraordinary Arab Summit, which will be held in Egypt” on March 4, the source added.

Via Tamara Abueish in alarabiya.net: Saudi Arabia on Thursday unveiled a symbol for the Saudi riyal approved by King Salman bin Abdulaziz, the Saudi Press Agency (SPA) reported, citing the Saudi Central Bank (SAMA). The reveal of the Saudi riyal symbol is a historic move that is set to reinforce the Saudi currency’s identity, according to the report. The Saudi riyal symbol “embodies the Kingdom’s rich cultural heritage, carrying the name of the national currency ‘Riyal’ in a design derived from Arabic calligraphy,” SPA said. The implementation of the new symbol will be gradual for financial and commercial transactions, with coordination across all relevant entities, al-Sayari added. The initiative aims to promote national identity and cultural belonging, highlight the role of the national currency, and showcase the Kingdom among major global economies and G20 members, SPA reported. The governor acknowledged all departments involved in the symbols development project led by SAMA, including the Ministry of Culture, the Ministry of Media, and the Saudi Standards, Metrology and Quality Organization.

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.

Via Robert Kieckhefer in upi.com: Saturdays $20 million Saudi Cup is not only the richest race in the world, but also, potentially, this years best. And that 1 1/8 miles is only the capper on a program that has stars from around the globe competing from sprints to marathons, on dirt and on turf. The question of the day is: Can Romantic Warrior, the Hong Kong superstar already ranked as the top money-earner in Thoroughbred history, transition successfully from turf to the dirt surface at King Abdulaziz Racecourse? If he can, even the opposition reckons him a good bet to earn his 11th Group 1 victory in a fifth nation and push his earnings over the $33 million mark. The undercard has runners who have competed in the worlds top races, including last years winner, Remake; reigning Breeders Cup Sprint winner Straight No Chaser; and Japan Cup runner-up Shin Emperor. The Saudi Derby has several contenders who could go on to the UAE Derby and the Run for the Roses.

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.

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.

in thesoufancenter.org: The setbacks suffered by Iran and its Axis of Resistance partners in their post-October 7 battles against Israel have set the stage for a realignment of the Middle East balance of power. The leading beneficiary of the power shift is the Kingdom of Saudi Arabia, which has sparred with Iran for regional influence since Iran’s 1979 Islamic revolution. Another competitor of both Saudi Arabia and Iran, Türkiye, has benefitted from the overthrow of the regime of President Bashar al-Assad of Syria by Turkish-backed Sunni Islamist armed dissidents. At the same time, the Kingdom by no means regards Iran as eliminated from the region’s power structure. Iran’s Supreme Leader, Grand Ayatollah Ali Khamenei, has stated an intent to rebuild Iran’s resistance axis gradually, including in Syria. In March 2023, under pressure from the Iran-led Axis and doubtful the U.S. would continue to protect the Arab Gulf monarchies, Saudi leaders, using China’s mediation, finalized a restoration of relations with Tehran in March 2023.

Via Nick Vivarelli in variety.com: The long-gestating deal — widely believed to involve PIF paying $1 billion in exchange for 10 per cent of DAZN — gives Saudi Arabia a piece of DAZN, which in the Middle East and North Africa (MENA) region rivals powerhouse beIN Sports, from neighboring Qatar. Qatar, incidentally, hosted the FIFA soccer World Cup in 2022, while Saudi Arabia will be hosting the 2034 edition of that event.  Founded in 2007, London-based DAZN, which has been dubbed the “Netflix of sports,” is now operating in more than 200 markets, having gone on a systematic sports rights’ buying spree that caused the streamer to report a £1.2 billion ($1.51 billion) loss for 2023. The deal with Surj Sports will certainly help shore up DAZN’s finances.

Via Leen Al-Rashdan in yahoo.com: After largely sitting out last year’s flurry of aircraft orders, some of the biggest airlines in the Middle East are now preparing to replenish their fleets, with hundreds of planned purchases set to cement the region as key growth driver for Boeing Co. and Airbus SE. Among the carriers set to add planes is Flydubai, which is looking to purchase at least 200 narrowbody jets plus 100 options, according to people familiar with the negotiations. Neighboring Etihad Airways is meanwhile in talks for as many as 40 widebody aircraft, said the people who asked not to be identified discussing confidential deliberations. Joining the fray is Qatar Airways, which is closing in an order for about 230 twin-aisle aircraft in coming months, while Gulf Air, the national carrier of Bahrain, is in talks for about a dozen widebody jets, the people said.

in lemonde.fr: Top United States and Russian diplomats met in Saudi Arabia on Tuesday, February 18, for talks on resetting their fractured relations, the first such discussions since the Russian invasion of Ukraine. Both sides downplayed expectations of a breakthrough in this first high-level meeting between the countries since US President Donald Trump took office. Still, the very fact the encounter is taking place has triggered concern in Ukraine and Europe following the US recent overtures towards the Kremlin. At Diriyah Palace in Riyadh, the talks began without visible handshakes, and no statements were made. A stern-faced US Secretary of State Marco Rubio sat across from Russias Foreign Minister Sergei Lavrov, with US National Security Advisor Mike Waltz and Middle East envoy Steve Witkoff by his side. Lavrov was accompanied by senior Russian presidential aide Yuri Ushakov. Saudi Foreign Minister Prince Faisal bin Farhan and National Security Adviser Musaad bin Mohammad al-Aiban also attended.

Via Jonathan Fulton in agbi.com: Hardly a day goes by without a story about China’s growing presence in the Gulf, which is a remarkable transition. When I started working on a PhD focusing on China-GCC relations in 2011, an economist at a regional sovereign wealth fund dismissed the project out of hand: “How are you going to write 100,000 words on selling cheap stuff and buying oil”? Nearly 15 years later the narrative has shifted hard in the other direction, with China generally considered a major external power in the region. That does not mean its role in the Gulf is any better understood.  First and foremost, the Gulf remains a place to get energy. For decades, China has had a voracious appetite for imported oil and gas and it will continue to be the world’s largest importer in the near term. Gulf countries typically provide it with between 40-50 percent of its crude oil imports and an increasingly large percentage of its LNG.

Via Steve McCaskill in sportspro.com: Saudi Arabia’s SURJ Sports Investment, a subsidiary of the country’s Public Investment Fund (PIF), has acquired a minority stake in sports streaming service DAZN. PIF has been linked with an investment in the broadcaster for several months, with reports earlier this year suggesting it was seeking a ten per cent share in the company for US$1 billion. Financial terms have not been confirmed, but the two parties have also committed to establishing DAZN Middle East and North Africa (MENA), a joint venture which will create broadcasting opportunities for Saudi Arabia’s expanding sports portfolio. Acquiring a stake in DAZN will allow Saudi Arabia to amplify its sporting ambitions. Saudi Pro League clubs have invested significantly in playing talent, while PIF has bankrolled the LIV Golf tour, acquired Premier League soccer club Newcastle United and become a sponsor of the ATP and WTA tennis tours.

Via Amir Daftari in newsweek.com: Saudi Arabia’s diplomatic maneuvers reflect its ambitions to assert itself globally while securing its own geopolitical interests. Its support for a negotiated peace in Ukraine could bolster its influence with both Washington and Moscow, while its leadership on Gaza underscores its regional authority. The Kingdoms balancing act will test its ability to navigate the complex dynamics of great power competition and Middle East stability. Saudi Arabias recent diplomatic maneuvers reflect a growing maturity from Riyadh that we didnt see during President Donald Trumps first term. The Kingdom appears to have moved on from an unrealistic foreign policy approach towards the region, and instead seems to be using its leverage and embracing diplomacy as a tool for regional stability and strategic influence.

Via Simon Lewis in reuters.com: Russia said Foreign Minister Sergei Lavrov will hold talks with top U.S. officials, including Secretary of State Marco Rubio, on Tuesday that will focus on ending the war in Ukraine and restoring the whole complex of Russia-U.S. ties. Rubio arrived in the Saudi capital Riyadh on Monday on a previously planned trip. U.S. National Security Advisor Mike Waltz and Middle East envoy Steve Witkoff, who are set to arrive later on Monday, will be joining him at the talks with the Russians. The talks will be among the first high-level, in-person discussions in years between Russian and U.S. officials and are meant to precede a meeting between the U.S. and Russian presidents. Kremlin spokesman Dmitry Peskov told reporters that Lavrov and Yuri Ushakov, a foreign policy advisor to President Vladimir Putin, would fly to the Saudi capital Riyadh on Monday. Riyadh, which is also involved in talks with Washington over the future of the Gaza Strip, has played a role in early contacts between the Trump administration, which took office on January 20, and Moscow, helping to secure a prisoner swap last week.

Via Nadim Kawach in agbi.com: Saudi government entities awarded more than SAR6.5 billion ($1.7 billion) of contracts in January, led by housing, infrastructure and industry. More than half the value of the contracts issued last month – SAR3.7 billion – was allocated towards construction, with the remainder going on water , energy and industry projects, the Saudi Contractors’ Authority (SCA) said last week in its latest Muqawil (contractor) bulletin. There were 15 projects in all, and the capital Riyadh took the lion’s share by value at SAR4.8 billion. This month, the SCA is expecting the number of awarded contracts to rise to 25, from entities including Saudi Electricity Company, the National Housing Company and the Public Investment Fund (PIF).