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QUOTED
“Although further effort is needed for Saudi Arabia to become a transparent market, there remains strong political will to continue implementing positive reforms to its economy and the real estate market in particular.”
-Dana Salbak, Head of Research, MENA, JLL. The company recently released its 2019 Year in Review report for Saudi Arabia which found the Kingdom “has witnessed rising transparency over the past three years and the government will continue to work towards improving market transparency.” [jll-mena.com]
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TOP STORY
Saudi Aramco has seen an increase in attempted cyber attacks since the final quarter of 2019 and has successfully repelled all of them so far, according to a Reuters report, which cited comments from an interview with chief information security officer Khalid al-Harbi. [more]
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TOP STORY
American commercial real estate services and investment firm CBRE Group, Inc., the largest commercial real estate services company in the world, recently released a graphic-filled and detailed report on Saudi Arabia’s bourgeoning entertainment industry, which it calls a “game changer.” [more]
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TOP STORY
Saudi Arabia continued to take precautionary measures to prevent the arrival and spread of Coronavirus in the Kingdom as King Salman and China’s Xi Jinping spoke by phone today to discuss the outbreak, according to reports. [more]
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MORE TOP STORYLINES
Via Matthew Martin in bloomberg.com : One of the Middle East’s largest venture capital funds hired Ivan Jakovljevic from Google Inc. to help transform its portfolio of start-ups into so-called unicorns. Jakovljevic will join Saudi Arabia’s STV — which backed Dubai-based ride-hailing firm Careem Inc. before its sale to Uber Technologies Inc. — as chief development officer next month, the company said in a statement. He was previously head of new markets for Google in the Middle East and North Africa.
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in therahnuma.com : Saudi Arabia’s economic development program aims to increase the gross domestic product (GDP) contribution of small and medium-sized enterprises (SMEs) from 20 percent at present to 35 percent by 2030. Along the way, entrepreneurship opportunities will grow across a wide range of sectors, in what is by all accounts a significantly underserved market.
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in albawaba.com : The ministry has 47 directorates and 422 education offices to oversee 300,000 schools, 27 public universities, 15 private universities, 46 private colleges, 70 technical colleges, 96 technical institutes and a group of private training institutes. Sheikh said the ministry employs 516,000 elementary and secondary school teachers, 70,000 university teachers, 12,000 trainers and 300,000 administrative staff.
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MORE ON THE KINGDOM AND BEYOND
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Saudi Arabia and Lebanon's installations at the Venice Biennale seek to redress the balance by questioning masculine views and Western myths surrounding the portrayal...[By Rebecca Ann Hughes via euronews.com]
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Middle East countries spent 4.2 per cent of their gross domestic product (GDP) on defence in 2023, the highest rate globally, as ...[By Deena Kamel via thenationalnews.com]
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Saudi Arabia’s sovereign wealth fund agreed to buy a majority stake in Saudi Telecom Co.’s tower unit for 8.7 billion riyals ($2.3 billion)...[By Dana Khraiche via ]
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The Schengen Area, which includes 29 European countries, was expanded last February to include Bulgaria and Romania, eliminating all air and maritime...[By Mona Farag via thenationalnews.com]
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Saudi Arabia is pushing for a ceasefire in Gaza and the entry of more aid into the territory amid Israel’s war...[via alarabiya.net]
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The institute noted that three largest spenders in the region — Saudi Arabia, Israel and Turkey — all increased military spending last year. Saudi Arabia...[By Adam Lucente via al-monitor.com]
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The head of Saudi Arabia’s state oil company praised China’s exports of green technology, echoing Beijing’s talking points in what appeared to be a deliberate...[via semafor.com]
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Startups are a critical component of the 21st-century economy, driving innovation, creating jobs, and fostering national economic growth. In Saudi Arabia, venture...[By Sharif Almadani via linkedin.com]
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Saudi oil giant Aramco said on Monday it is in talks to acquire a 10% stake in...[By Yousef Saba via reuters.com]
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The United Arab Emirates ($20.04 billion) and the Kingdom of Saudi Arabia ($14.29 billion) continued to be the two largest destinations by far for U.S....[via nusacc.org/]
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The death of Qassim al-Rimi is part of a string of setbacks that have damaged the group’s ability to carry out operations against the West....[By Eric Schmitt via nytimes.com]
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The U.S. ambassador to Israel has cautioned Israel against “unilateral action” in annexing West Bank settlements, warning that such a move could endanger the Trump...[By AP via politico.com]
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Across the U.A.E. as a whole -- of which Dubai is a part -- business conditions fell into contraction last month for the first time...[By Abeer Abu Omar via bloomberg.com]
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Egypt recently made a series of offshore natural-gas discoveries, and exporting resources will help the deeply indebted country. Last year Cyprus, Greece, Israel, Italy, Jordan,...[By Nicholas Saidel via wsj.com]
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Israel’s Privacy Protection Authority said it was looking into what it called a “grave” security lapse by the maker of an app promoted by Prime...[By Daniel Victor, Sheera Frenkel and Isabel Kershner via nytimes.com]
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Syrian government forces killed five Turkish soldiers and wounded five more on Monday in an attack on a Turkish military post in the Taftanaz area...[via voanews.com]
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Hot on the heels of a "serious" cyber-attack that compromised United Nations servers, and in the same week that the head of the European Central...[By Davey Winder via forbes.com]
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Cybersecurity expert John Hultquist and WSJ's Dustin Volz discuss what new tactics hackers have at their disposal and whether the U.S. is prepared to defend...[via wsj.com]
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The United Arab Emirates has resumed postal services to Qatar nearly three years after they were suspended due to a Gulf Arab political dispute.
The move...[By Alexander Cornwell and Lisa Barrington via reuters.com]
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The launch had been planned amid celebrations ahead of the February anniversary of Iran's 1979 Islamic Revolution. Iran routinely unveils technological achievements for its armed...[via military.com]
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