MUST-READS

• Saudi women rising up in business in line with Vision 2030

  The World Bank report “Women, Business, and the Law 2020” recognized Saudi Arabia as the top reformer globally in the last year. Saudi Arabia implemented historic reforms to advance women’s economic participation. The measures introduced freedom of travel and movement for women over the age of 21.

• Shattered Ambitions: Unemployment is hurting youth in Arab world

  According to a research conducted by YouGov in collaboration with Arab News and Arab Strategy Forum, 55 percent of the youth population (people under the age of 30) believe corruption is the biggest problem their countries are facing. The second major problem is unemployment, followed by a lack of trust in their respective governments.

• Dubai businesses, hurt by coronavirus, pin hopes on Expo

  Luxury car rental dealer Sheshan Gautham had a disappointing start to 2020 when nearly two thirds of his Chinese clients canceled bookings in January due to the coronavirus outbreak. The business, Uptown Rent A Car, took the hit and Gautham thought the worst was over. But then Saudi Arabia, his biggest source of customers, halted flights to and from the United Arab Emirates this week to stop the virus spreading.

• Saudi’s AMAALA steps up design plans with Denniston appointment

  “AMAALA carves a unique positioning within the global hospitality portfolio, catering to select travellers looking for innovative experiential escapes. Our ambition is to create personalised experiences, catering to the individual needs of each guest,” said Naples.

• Digitalising Saudi – Wave Media

  Digitalising Saudi Arabian out-of-home media house Wave Media has just completed a one-year-long overhaul of its in-mall network, turning 90 per cent of its screens digital. The kingdom’s leading operator of in-mall signage now has more than 25,000 faces, located in more than 50 malls in more than 30 cities throughout the country. One third of the Saudi population, 11 million people, see Wave’s media every month.

• Saudi Arabia’s General Authority for Military Industries to develop 21 military technologies by 2030

  “The new strategy identified 21 military technologies divided into seven categories: Electro-optics, directed energy, radar, radio, cybersecurity technologies, electromagnetic weapons and artificial intelligence.”

• Iraq, Kuwait Follow in Saudi Footsteps on Oil-Price Curbs

  Iraq cut the official selling price for its Basrah Light crude for buyers in Asia by $5 a barrel for April shipments, according to an announcement on Tuesday. That’s less than the $6 reduction for Aramco’s comparable Arab Medium grade. Kuwait reduced its selling price to Asian customers by the same as the Saudis.

• Saudi Arabia’s Tajeer Rental System Includes over 300,000 Vehicles

  Chairman of the PTA Rumaih al-Rumaih explained that the authority is working to develop the transportation sector, making it a priority due to its direct impact on the traffic and tourism. He indicated that the number of vehicles operating in the car rental sector exceeds 300,000.

• Former Saudi energy minister Falih may be tapped to defuse Russia oil tensions: source

  Falih, who helped broker the OPEC-Russia alliance in late 2016 with Novak to stem what was then a three-year slump in crude prices through a series of production cuts, would be banking on his warm relationship with his Russian counterpart to smooth over tensions that have led to the biggest oil market rout in some 30 years.

• Saudi-Russia price war puts $110bn of US energy bonds on the brink

  Almost 12 per cent of the $936bn of bonds issued by US oil and gas companies are were trading on Monday with a yield more than 10 percentage points above Treasuries — a commonly used definition of distress — according to indices run by Ice Data Services. Yields rise as prices fall.

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