QUOTED

France’s business world wanted to be part of the “massive dynamic wave” in the kingdom. “They realise now the deep transformation of the kingdom. There’s nothing that can prevent change now.” French entrepreneur Julie Barbier, who worked in Dubai for 14 years before relocating recently to Saudi Arabia with state incentives, France targets Saudi PIF’s ‘colossal’ investment power [The National]

TOP STORY

French President Macron in Saudi for three-day state visit

Saudi-French Investment Forum Concludes in Riyadh

Macron’s schedule includes high-level meetings, a visit to Riyadh Metro, the Saudi-French Economic Forum and a number of cultural visits, including Al-Ula. [more]

MORE TOP STORYLINES

Saudi PMI hits 59 in November as non-oil sector grows

Via Syed Ameen Kader in arabnews.com: Saudi Arabia’s non-oil private sector ended November with robust momentum, as business activity expanded at its fastest pace since July 2023, latest business survey showed. The Riyad Bank Saudi Arabia Purchasing Managers’ Index rose to 59.0 in November from 56.9 in October, marking the fourth consecutive monthly increase, buoyed by accelerated growth in new orders, purchasing activity, and staff recruitment. Business activity saw its sharpest rise in 16 months, with firms linking the surge to stronger demand, higher customer volumes, and successful marketing campaigns. New order inflows, including foreign sales, rebounded after a modest pullback in the previous survey period.

Macron: France, Saudi Arabia will co-chair conference on creating Palestinian state

in alarabiya.net: French President Emmanuel Macron announced on Tuesday that he and Saudi Arabia’s Crown Prince Mohammed bin Salman would co-chair a conference on the establishment of a Palestinian state in June. “We have decided to co-chair a conference for the two states in June next year,” Macron said, referring to Israel and a potential Palestinian state. “In the coming months, together we will multiply and combine our diplomatic initiatives to bring everyone along this path,” he added. Responding to a question on whether France would recognize a Palestinian state, the French president said he would do so “at the right moment” and at a time “when it triggers reciprocal movements of recognition.”

Aramco’s Diversification Strategy: Fueling Saudi Arabia’s Vision 2030

Via John Calabrese in agsiw.org: Saudi Aramco is not only the largest oil producer globally but also the most profitable business, surpassing tech giants like Apple and Microsoft. Aramco is evolving far beyond its traditional role, now positioning itself at the forefront of economic diversification, technological innovation, and sustainability, aligning with the broader vision set forth by Crown Prince Mohammed bin Salman to transform the Saudi economy and reduce its dependence on oil. This shift has turned Aramco into a key player in reshaping the kingdom’s energy landscape and broader strategic interests. In a strategic move in March, Saudi Arabia transferred 8% of Aramco’s shares to the PIF – valued at around $163.6 billion, reflecting Aramco’s market worth – aiming to bolster the fund as the kingdom prepares for a possible IPO of the company. This transaction could provide additional financing for Vision 2030. The transaction raised the combined stake of the PIF and its affiliates in Saudi Aramco to 16%, equating to $327 billion in value.

Saudi Arabia goes on the offensive on climate change

Saudi Arabia came out fighting on the opening day of the 2024 edition of the Saudi Green Initiative, in response to some strident criticism of...[By Frank Kane via agbi.com]

France targets Saudi PIF’s ‘colossal’ investment power

During a three-day official state visit focused on boosting business ties, Mr Macron told a Saudi-French business forum in Riyadh that one of...[By Sunniva Rose via thenationalnews.com]

How French and Saudi architects are redesigning the cities of tomorrow

Saudi Arabia today is synonymous with megaprojects. Since the launch of the Vision 2030 reform agenda, the Kingdom has rolled out a range of major...[By Zeina Zbibo via arabnews.com]

France’s EDF, TotalEnergies awarded Saudi solar tenders during Macron visit

TotalEnergies will build an 0.3 gigawatt (GW) solar park in Saudi Arabia, while EDF Renewables will build...[By America Hernandez via reuters.com]

Saudi Arabia signs solar deals with France’s TotalEnergies

A separate power purchase agreement for the Kingdom’s Al Masa’a solar power plant project was signed between the Saudi Power Procurement Company (SPPC), French state-owned...[via alarabiya.net]

Macron announces France-Saudi partnership to co-host conference on creating Palestinian state

French President Emmanuel Macron announced on Tuesday, December 3, that he and Saudi Arabia's de facto ruler, Crown Prince Mohammed bin Salman, would...[via lemonde.fr]

Crown Prince: Saudi Arabia provides $6B funding for 200 water projects

Crown Prince and Prime Minister Mohammed bin Salman inaugurated the “One Water Summit” in Riyadh on Tuesday evening in the presence of several presidents and...[via argaam.com]

Saudi Arabia announces 5 new initiatives worth $60 million at SGI Forum

Saudi Arabia unveiled five new initiatives, valued at $60 million (SR 225 million), reinforcing the Kingdom's leading role on climate and environment efforts. The initiatives were...[via saudigazette.com]

Saudi energy minister sees net zero as scenario that ‘can never happen’

The minister said at the Saudi Green Initiative Forum in Riyadh that the world is currently going through a "reality check" on net zero...[By Rosemary Griffin via spglobal.com]

Critical minerals become a Middle East battleground

Critical minerals are defined as materials required for a country’s strategic industries where there is a risk of interruption to supply. They include lithium, for making...[By Valentina Pasquali via agbi.com]

China’s ties with Saudi Arabia buoyed by green tech

Bilateral trade has for many years been almost totally dominated by Chinese purchases of Saudi oil. But now, Chinese exports to Saudi Arabia are tracking...[By Edward White, Cheng Leng, Ahmed Al Omran and Alex Irwin-Hunt via ft.com]

Saudi Arabia and World Bank Group to Establish a Global Knowledge Hub in Riyadh

The World Bank Group–Saudi Arabia Knowledge Hub (K-Hub) will serve as a platform for knowledge generation and exchange to drive greater development impact for countries....[via worldbank.org]

Saudi Arabia hits 900+ sports sponsorships in quest for influence

The study mapped 910 sponsorships in different sports and 1,412 positions in 207 Saudi entities, noting that the kingdom has significantly expanded its web of...[By Ed Dixon via sportspro.com]

Saudi Arabia’s network of spending and influence detailed before getting 2034 World Cup from FIFA

More Saudi commercial deals are expected after the 2034 World Cup decision, either for the 2026 edition being played in North America or the revamped...[By Graham Dunbar via apnews.com]

FIFA, Clifford Chance Accused of ‘Whitewashing’ Saudi Human Rights Record in World Cup Bid

As FIFA approaches its December 11 vote to appoint the 2034 World Cup host, the football association is once again under fire for allegedly...[By Dario Sabaghi via law.com]

How FIFA helped pave the way for Saudi 2034

In October 2023, FIFA made a surprising move that effectively set the stage for Saudi Arabia’s bid to host a future FIFA World Cup...[via playthegame.org]

Locating EV Charging Stations to Enable Intercity Travel in Saudi Arabia

The development of electric vehicle (EV) infrastructure presents a promising pathway to reduce transportation emissions, particularly when integrated with low-carbon...[By Ryan Alyamani and Thomas Gertin via kapsarc.org]

Saudi Arabia bets on tech to make deserts bloom

Saudi Arabia accounts for nearly 75 percent of Middle East investment in climate technology start-ups worldwide, according to a 2023 report by auditor PwC. But its...[via phys.org]

KAPSARC and Climeworks to explore feasibility of Direct Air Capture solutions in Saudi Arabia

The MoU outlines a roadmap to assess the deployment of new DAC systems in the Kingdom, focusing on availability of natural resources including subsurface CO₂...[via climeworks.com]

Saudi Arabian golfers privileged to be ‘trailblazers’ for golf in the Kingdom

Saudi Arabia’s five leading golfers are determined to showcase their quality on home soil when the PIF Saudi International powered by SoftBank Investment Advisers...[via golfdigestme.com]

Saudi NEOM partners with CarbonCure and Gulf Cryo on low-carbon concrete push

Efforts to integrate carbon capture and utilisation (CCU) technologies into construction in Saudi Arabia’s futuristic Neom city have taken a major step forward as CarbonCure...[By Anthony Wright via gasworld.com]

Saudi Arabia’s Neo Space Group to Acquire UP42 from Airbus

Saudi Arabia’s Neo Space Group (NSG) is making an acquisition in the Earth observation space, acquiring UP42 from Airbus Defence and Space. Terms of the deal were not disclosed in...[By Rachel Jewett via satellitetoday.com]

OECD warns of protectionism risk to global growth outlook

The world economy is set for steady growth in the next two years if resurgent protectionism does...[By Leigh Thomas via reuters.com]

An elaborate global system exists to prevent famine. It’s failing.

The process Haan and other aid workers sketched out in about a month eventually evolved into the Integrated Food Security Phase Classification, or IPC,...[By Lena Masri, Deborah Nelson, Maggie Michael, Steve Stecklow, Ryan Mcneill, Jaimi Dowdell And Benjamin Lesser via reuters.com]