MUST-READS

• Can Saudi Arabia build a thriving fintech hub by 2030?

  Let’s say an international fintech is looking to come to Saudi Arabia. First, Fintech Saudi will have a consultation with the company to understand its business model and determine if it needs to be regulated by the major financial bodies. If so, it brings in subject matter experts, law firms as well as other companies in the industry to give the relevant guidance, while involving the main regulators throughout the entire process. Next, Fintech Saudi will connect the company with the Ministry of Investment, which can provide support with setting up an entity in Saudi Arabia.⁸ Finally, Fintech Saudi can give the company links to private service providers in the country–such as office space or software businesses–that can help it get up and running quickly.

• How would a President Harris deal with Saudi Arabia?

  As president, Harris would have to accept that close ties with Riyadh are necessary. There is already a draft bilateral agreement with Saudi Arabia that includes security guarantees and cooperation on civilian nuclear power. While the vice president is campaigning, improbably, as the candidate of change, she should pick up the threads of Biden’s existing policy on Saudi Arabia.

• Is FIFA’s sponsorship deal with a Saudi-owned oil giant really ‘a middle finger’ to women’s soccer?

  It is easy to claim, as many have done, that this is purely an exercise in sportswashing. But that ignores that soccer is also helping to facilitate a fast-moving cultural shift in Saudi Arabia, and the region more broadly, while being careful not to attract the attention of some of the ultra-conservative religious leaders who remain committed to the region’s more traditional ways. One of the teams in the Saudi Women’s Premier League is the Eastern Flames. It was originally established in 2006 with players from the Aramco  community. Despite significant hurdles for women to play sport at all, the team survived and flourished and has been elevated into the professional league.

• Is Israel carrying out de facto ethnic cleansing?

  “What we have learned this year is that everything is in our hands,” Ben Gvir said, before identifying what he considered the major legacy of militant group Hamas’s terrorist strike on southern Israel more than a year ago. “We are the owners of this land. Yes, we experienced a terrible catastrophe on October 7. But what we need to understand, one year later, is that so many Israelis have changed their thinking. They have changed their mindset. They understand that when Israel acts like the rightful owners of this land, this is what brings results.”

• Is Saudi Arabia a Brics member or not? A curious case of invitation, acceptance and a delay

  The original Brics members —Brazil, Russia, India, China, South Africa— approved the joining of Saudi Arabia and four other nations at the Brics Summit 2023 in South Africa. The Saudi membership was set to start in February 2024 but the monarchy said at the last minute that it is not yet joining the group." Saudi Arabia has not yet responded to the invitation to join BRICS. It is still under consideration,” the Saudi official source said in a statement to Reuters.

• What’s behind Algeria’s suspension of Saudi-owned Al Arabiya news?

  Algeria's recent move against Al Arabiya came just one day after Iraq’s Communications and Media Commission revoked the license and closed the office of Saudi media conglomerate MBC Group, the parent company of Al Arabiya. The decision came after MBC aired a controversial report on Friday calling recently slain Hezbollah leader Hassan Nasrallah, Hamas leader Ismail Haniyeh, Islamic Revolutionary Guard Corps commander Qasem Soleimani and others terrorists. The report has since been removed from all MBC platforms.

• Saudi Arabia and BRICS—a balancing act?

  Russia last month invited Saudi Crown Prince Mohammed bin Salman to attend the Oct. 22-24 BRICS summit it is hosting in Kazan. The summit is the bloc’s first since its expansion last year when six new members—Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE)—were invited to join. While countries such as Iran have been quick to accept the invite, the Kingdom has yet to confirm its formal alignment with BRICS. Most likely, Saudi strategists are still weighing all pros and cons of membership—with factors in favor and against broadly balanced.

• Saudi Arabia to Acquire Türkiye’s 5th-Generation KAAN Fighter Jet ?

  Türkiye and Saudi Arabia have recently strengthened their defense ties, marking a significant shift in their bilateral relations. This development was highlighted by a strategic summit in Jeddah in July 2024, where officials from both nations agreed to pursue high-value defense projects collaboratively. The two countries are exploring extensive technology transfer opportunities and joint production efforts, including the potential assembly of Türkiye's KAAN 5th-generation fighter jet in Saudi Arabia. This move aligns with Saudi Arabia's Vision 2030, which aims to build a self-sustained defense industry through partnerships with established defense manufacturers.

• A former Colorado staffer’s rogue NIL trip to Saudi Arabia: Wild tale or sign of desperate times?

  Reilly said he did not tell Sanders of his plans to visit the Middle East after the conclusion of the 2023 season, but said he informed members of Sanders’ personal staff of his intentions. He also had made it clear to tourism officials in the Middle East that he could never himself strike a deal, but his goal was to serve as an introductory middleman between Colorado’s collective and potential partners.

• Will the UAE steer Assad away from Iran-led war with Israel?

  Over the past several years, the United Arab Emirates (UAE) has played a critical role in bringing Syria back into the Arab diplomatic fold. Since Abu Dhabi reopened its embassy in Damascus in 2018, high-ranking Emirati and Syrian officials have consistently engaged in manners that serve to shore up the standing of Bashar Al-Assad’s government in the Arab world. The Syrian president’s Mar. 2022 visit to the UAE was a watershed in terms of his gradual rehabilitation as a “legitimate” head of state in the eyes of Sunni Arab statesmen.

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