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QUOTED
“For years, Saudi Arabia has been the region’s largest economy, boasting consumers of the highest purchasing power and a young tech-savvy population; but recent developments make this an especially opportune time to move into the Saudi tech scene. If you’re looking for the emerging hub of digital innovation and entrepreneurship in the MENA region today, you’ll find it in Saudi Arabia.”
–Omar Christidis, ArabNet Founder and CEO, at the launch of the 8th edition of the Arabnet Riyadh tech-focused event.
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TOP STORY
Saudi Aramco’s shares rose SAR 3.20, or 10% (the daily limit) to 35.2 riyals in Riyadh, raising the company’s valuation to $1.88T.
The debut, by any measure, is a success, and officially makes Saudi Aramco the world’s most valuable company. [more]
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TOP STORY
A recent Arab News — Arab Strategy Forum research study conducted by YouGov found that 55 percent of Arab youth believe corruption is the main problem in their country, but unemployment was close behind at 46 percent, according to Arab News.
In the Arab world, 65 percent of the population are under the age of 30.
The study interviewed 3,079 Arabic speakers aged 18 years and above across 18 countries in the Middle East to better understand their concerns, and to gauge their opinions on the intersections of Islam and politics in Arab life, Arab News said in a report.
[More from Arab News]
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TOP STORY
A Saudi soldier in training in the United States opened fire on a naval base in Pensacola, Florida on Friday, killing three and wounding 12.
Second Lt. Mohammed Saeed Alshamrani was then killed by a sheriff’s deputy who responded to the attack. The attack shocked Saudis and Americans alike. [more]
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MORE TOP STORYLINES
Via Davide Barbuscia and Marwa Rashad in reuters.com : “The proceeds will be used largely, maybe not totally, in the local economy, in projects where the PIF will be the first mover which then basically pulls more private sector participation … so the money will remain in the system mostly,” Finance Minister Mohammed al-Jadaan told Reuters.
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in politifact.com : The U.S. military hosts more than 5,100 foreign students from 152 countries at military sites around the country, a Pentagon spokesman told PolitiFact. That includes 852 Saudis.
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Via Aya Batrawy in stripes.com: King Salman, who greeted Gulf leaders as they arrived for the summit, was shown sharing a traditional coffee with Qatari Prime Minister Sheikh Abdullah bin Nasser Al Thani minutes before the meeting began.
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MORE ON THE KINGDOM AND BEYOND
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More than 200,000 people converged at the conference, including Adam Selipsky, chief executive of Amazon’s cloud computing division, who ...[By Adam Satariano and Paul Mozur via nytimes.com]
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Diriyah Gate, one of the first Saudi giga-projects, said this week that it was on target for completion by late 2027.
The opening of the project’s...[By Andrew Hammond via agbi.com]
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His comment is significant because, like LIV Golf’s team competition and shotgun starts, the...[By Cindy Boren via washingtonpost.com]
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The recently released book “Battleground – 10 Conflicts that Explain the New Middle East” by historian Christopher Phillips provides a useful overview of ten ongoing conflicts...[By Christopher Phillips via thecipherbrief.com]
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A serious escalation of tensions in the Middle East would push the price of oil above $100 (£80) a barrel and reverse...[By Larry Elliott via theguardian.com]
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The regional upswing also defies oil production cutbacks which have all weighed on economic growth in the region as seen from International Monetary Fund’s latest...[By Issac John via khaleejtimes.com]
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Speaking at the event titled “Industrial policies to promote economic diversification,” the top official said there have been fundamental changes in the legislative and economic regulations to...[via arabnews.com]
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From April 22 to 25, 2024, the 26th World Energy Congress convened in the Netherlands, drawing participation from the Kingdom of Saudi Arabia’s energy industry....[By Pooja Chandak via solarquarter.com]
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Henning Larsen Architect has just revealed the designs for The Jeddah Opera House, a new local landmark in Saudi Arabia. Drawing inspiration from the historical...[By Nour Fakharany via archdaily.com]
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The US government believes that Iran is behind a series of increasingly sophisticated rocket attacks on joint US-Iraq military facilities in Iraq, several US officials...[By Barbara Starr and Ryan Browne via cnn.com]
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Congress is offering the Defense Department the option to purchase Turkey's F-35 Joint Strike Fighters and giving the defense secretary discretion to spend up to...[By Oriana Pawlyk via military.com]
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In an interview with The Associated Press, Hamid Karzai responded to findings from a trove of newly published documents that successive U.S. administrations misled the...[By Kathy Gannon via militarytimes.com via AP]
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Iran has foiled a major cyber attack on its infrastructure that was launched by a foreign government, the Iranian telecoms minister said on Wednesday, two...[By Reuters Editorial via reuters.com]
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United Nations investigators dispatched to Saudi Arabia after drone and missile attacks on state oil company Aramco in September determined they couldn’t yet verify U.S....[By David Wainer via bloomberg.com]
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President Recep Tayyip Erdogan said Turkey might send troops to Libya to counter Russian-backed militia forces....[By David D. Kirkpatrick via nytimes.com]
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Wirth has made U.S. shale, particularly in the Permian Basin, the centerpiece of his global strategy, as opposed to riskier ventures elsewhere. The writedown also...[By Kevin Crowley via rigzone.com]
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