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QUOTED
“Much as thinking about information systems and cyber-risks has become integrated into corporate and public-sector decision making, climate change and its resulting risks will also need to feature as a major factor in decisions. For companies, this will mean taking climate considerations into account when looking at capital allocation, development of products or services, and supply chain management, among others. For cities, a climate focus will become essential for urban planning decisions. Financial institutions could consider the risk in their portfolios. Developing a robust quantitative understanding is complex and will also require the use of new tools, metrics, and analytics. At the same time, opportunities from a changing climate will emerge and require consideration.”
–McKinsey Global Institute, in a recent study on the physical effects of climate change, including on individuals and communities, as well as infrastructure and natural capital. [McKinsey.com]
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TOP STORY
A recent report from Jadwa Investment looks at the economic impact of Saudi Arabia hosting the G20 Summit, noting that while the Riyadh has hosted major summits before, “the G20 summit differs due to the sheer number of different events related to it” with more than 120 workshops, ministerial meetings and specialized seminars scheduled throughout the year. [more]
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TOP STORY
The Kingdom of Saudi Arabia has realized a remarkable leap in the World Bank’s Women, Business and the Law 2020 report, with a score of 70.6 out of 100 and achieving the honor of being the top improver over the last year, according to reports. [more]
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TOP STORY
Saudi Aramco sold millions of additional shares of its initial public offering using a so-called “greenshoe option” that has raised the size of its IPO by nearly $4 billion. [more]
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TOP STORY
Saudi Aramco Energy Ventures (SAEV), a unit of the kingdom’s energy company, is preparing to start a new $500 million fund this year after completing $500m in investments, Bloomberg reports. [more]
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MORE TOP STORYLINES
Via Tsvetana Paraskova in oilprice.com : OPEC’s largest producer and de facto leader, Saudi Arabia, told the cartel that its December crude oil production dropped by nearly 300,000 bpd from November to 9.594 million bpd, a much steeper decline than OPEC’s secondary-sources estimate of an 111,000-bpd fall, the organization’s Monthly Oil Market Report (MOMR) showed on Wednesday.
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Via Alan Taylor in theatlantic.com : Leaving from Jeddah, Saudi Arabia, on January 5, a group of 560 competitors began the 42nd annual Dakar Rally: a 12-day, 4,660-mile (7,500-kilometer) off-roading adventure held entirely in Saudi Arabia this year.
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Via Rania El Gamal and Davide Barbuscia in reuters.com : The Abu Dhabi National Oil Company has raised more than $19 billion over the past three years from overseas investors, according to Reuters calculations based on publicly released size of investments, signing fees and share sales.
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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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One of Saudi Arabia's top universities has announced a Red Sea project described as the world’s largest coral reef restoration.
...[By Daniel Bardsley via thenationalnews.com]
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The National Debt Management Center announces the closure of April 2024 issuance under the Saudi Arabian Government SAR-denominated Sukuk Program. The total amount allocated was...[via mof.gov]
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The month-on-month decline in imports from Russia comes amid lower discounts offered by Russia. Russia has been the largest source of crude for...[By Rituraj Baruah via livemint.com]
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Two major U.S. law firms are opening offices in Saudi Arabia following a change last year in...[By David Thomas via reuters.com]
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One official said some joint operations between the U.S. and Iraqi forces have already begun, but there are not yet as many as before. The...[By Lolita Baldor via apnews.com]
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"Today, the American soldier is in danger, tomorrow the European soldier could be in danger," President Hassan Rouhani said at a Cabinet meeting without elaborating.
European...[By Joseph Krauss via militarytimes.com via AP]
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Turkey is beginning to send troops into Libya in support of the internationally recognised government in Tripoli, President Tayyip Erdogan said on Thursday, days before...[via france24.com]
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The past decade has been the hottest on record, the UN said Wednesday, warning that the higher temperatures were expected to fuel numerous extreme weather...[via saudigazette.com]
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Though he remained little known outside diplomatic circles, Qaboos was, for much of his long career, an indispensable linchpin of the international order. In recent...[By Hugh Eakin via nytimes.com]
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"The training, equipping, and funding that Iran provided to those militia proxies made them orders of magnitude more lethal than they originally were," Sobchak said....[By Jon Greenberg via politifact.com]
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The memos reveal Esper as an ambitious reformer, with goals broader than predecessors Robert Gates, who closed Joint Forces Command; and Chuck Hagel, who slimmed...[By Mackenzie Eaglen via defenseone.com]
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The sunny outlooks reported by senior leaders in Afghanistan over the last two decades created a vicious cycle, a Defense Department special inspector general told...[By Meghann Myers via militarytimes.com]
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The total funding of Saudi Arabia was $968.4 million, representing 28 percent of the YHRP, with the US coming second with a donation of $907.6...[via arabnews.com]
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The deaths come after a ceasefire agreement in the province went into effect on January 12, according to the Turkish defense ministry. The deal was...[By Eyad Kourdi and Kareem Khadder, CNN via cnn.com]
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The Turkish government has blocked access to other popular websites such as Twitter, YouTube and Facebook in the past, for allegedly promoting terrorist propaganda or...[By Asli Kandemir via bloomberg.com]
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