MUST-READS

• Commentary: Trump is using the presidency to seek golf deals. Hardly anyone’s paying attention

  On 20 February, Trump hosted a meeting at the White House between Jay Monahan, the PGA Tour commissioner, and Yasir al-Rumayyan, chair of LIV Golf and head of Saudi Arabia’s sovereign wealth fund, along with the golf star Tiger Woods. It was the second meeting convened by Trump at the White House this month with PGA Tour officials involved in negotiating with the Saudi wealth fund. A day before his latest attempt at high-level golf diplomacy, Trump travelled to Miami to speak at a conference organized by the Saudi Public Investment Fund, which is managed by Al-Rumayyan but ultimately controlled by the kingdom’s de facto ruler and crown prince, Mohammed bin Salman.

• Saudi Arabia allocates feedstock for new petchem complexes in Jubail

  Saudi Arabia's Ministry of Energy has allocated feedstock necessary for establishing industrial complexes by National Industrialization Company (Tasnee) and Sahara International Petrochemical Company (Sipchem)  in Jubail Industrial City. Tasnee) received approval from the ministry to allocate feedstock (ethane, propane and butane) on Wednesday. The complex includes a thermal cracking unit for ethylene production with high world-scale capacity, the company said in a statement to the Saudi stock exchange. The project will have a production capacity of nearly 3.3 million metric tonnes of petrochemical products, including high and linear low-density polyethylene and methyl tert-butyl ether (HDPE. LLDPE, MTBE).

• Saudi Arabia expands scope of Saudi Qualification Verification Program

  On 28 January 2025, the Saudi Ministry of Human Resources and Social Development announced the full expansion of the Professional Verification service under the Professional Accreditation program. The program now applies to all industries and a broader range of countries. The scope of the Professional Accreditation program has now been expanded to 1,007 professions encompassing all industries, moving beyond its previous focus on sectors such as aviation, construction, health care, media and tourism. Additionally, the MHRSD's recent announcement confirms that the target of 160 countries has been met.

• Saudi Wealth Fund Blocks PwC From Advisory Work for One Year

  Saudi Arabia’s wealth fund has temporarily banned PwC from advisory and consulting services contracts, people familiar with matter said, halting the firm’s progress in one of the world’s most lucrative markets. Executives at the $925 billion Public Investment Fund and its more than 100 subsidiaries have been told to stop handing out consulting projects to PwC until February 2026, the people said, declining to be identified as the information is confidential. The firm’s auditing projects will not be affected, they said. The PIF did not explain reasons behind the move in messages sent to its portfolio companies. Representatives for the fund declined to comment, while a spokesperson for PwC didn’t respond to requests for comment. The PIF’s decision comes two years after PwC received a license to open its regional headquarters in the kingdom, where it employs more than 2,000 people across Riyadh, Jeddah, AlUla, Al Khobar and Dhahran. In the Middle East, the company operates from more than 20 locations. PwC’s non-audit services span areas like mergers and acquisitions and tax advisory, alongside its strategy and consulting work. For its most recent fiscal year, the Middle East was the fastest-growing geography within PwC UK, the corporate entity that includes the region.

• Al-Ittihad and CUE Redefine Fan Engagement with Saudi Arabia’s First CUE Light Show

  Based in Nashville, Tennessee, CUE partners with major organizations across the NFL, NBA, NHL, and MLB, and expanded to Europe in 2022, working with renowned clubs like Tottenham Hotspur, Arsenal, the Boston Celtics, the Los Angeles Lakers, and the Kansas City Chiefs. Partnering with a club of Al-Ittihad’s stature marks a significant milestone for CUE’s growing presence in the Middle East. One of the night’s standout moments was Saudi Arabia’s first-ever CUE-powered smartphone light show, sponsored by ROSHN Group. On the first day of promoting the event, over 8,000 fans downloaded the app by scanning a QR code. By the end of the match, more than 33,000 fans had downloaded it. The synchronized phone lights transformed the stadium into an immersive visual experience, ranking this activation among CUE’s largest fan-driven light shows.

• Red Sea Global brings sustainable aviation fuel to Saudi Arabia in landmark deal

  Red Sea Global (RSG), the developer behind Saudi regenerative tourism destinations The Red Sea and AMAALA, announced a deal to bring Sustainable Aviation Fuel (SAF) to the Kingdom for the first time. RSG and daa International, the operator of The Red Sea International Airport (RSI), struck the deal with the airport’s fuel supplier, Arabian Petroleum Supply Company (APSCO), to enable airlines operating at RSI to have the option of refuelling using SAF. As part of its ambition to achieve net zero, RSG’s subsidiary air operator, Fly Red Sea, which provides seaplane transfer, charter and scenic tour services across its destinations, will also refuel its fleet exclusively with fuels that ensure aviation is more sustainable such as SAF and Lower-Carbon Aviation Fuel (LCAF).

• How Saudi Arabia’s NEOM balances futuristic vision with ancient heritage and rewilding

  On the edge of NEOM stands Jebel Safina, or Ship Rock, a 50-meter-high sandstone and limestone formation that resembles a vessel stranded in the desert. This geological landmark, located near the small town of Bajdah in NEOM, near Tabuk, serves as a testament to the region’s rich historical heritage. A key guardian of the site is Abdulaziz al-Sanousi, a Saudi born just miles away, who is tasked with overseeing the preservation of the region’s rich heritage sites and stories for NEOM Tourism, making places accessible to all while ensuring their ongoing protection. “I’m very proud that the name NEOM is famous,” said al-Sanousi, NEOM’ senior cultural tourism manager. His role embodies NEOM’s dual commitment to preservation and accessibility, ensuring these historical treasures remain safeguarded while being shared with the world.

• Saudi Arabia ranks first globally in government trust and future outlook

  Saudi Arabia ranked as the most trusted government worldwide, with a remarkable 87 percent trust rate, according to the 2025 Edelman Trust Barometer. This reflects the Kingdom's continued leadership in global trust indicators. This achievement underscores the success of Vision 2030 in strengthening institutional stability and governance, making Saudi Arabia a global benchmark for public trust. Additionally, Saudi Arabia ranked first globally in future outlook, with 69 percent of citizens believing the next generation will be better off. This optimistic perspective starkly contrasts with less than 50 percent in most other countries, showcasing the positive societal impact of Vision 2030 and the nation’s commitment to sustainable development. In addition to maintaining its leading global position, Saudi Arabia outperformed several countries in trust indicators, including the United States with 47 percent, the United Kingdom 43 percent, and Germany 41 percent.

• Jadwa Investment Awarded Asset Manager of the Year at Saudi Capital Market Forum

  Jadwa Investment, a leading investment management and advisory firm in the Middle East, was awarded Asset Manager of the Year for 2024 as part of the Saudi Capital Market Awards announced at the Saudi Capital Market Forum last week. The award was presented by Eng. Khalid Abdullah Al-Hussan, CEO of Saudi Tadawul Group and Fahad Kordi, President of CFA Society Saudi Arabia, and received by Faisal Al-Rayes, Chief Investment Officer and Head of Asset Management at Jadwa Investment.

• Saudi chemicals group SABIC flags cost cuts after worse than expected quarterly loss

  Saudi chemicals giant SABIC plans to cut costs and find new investment opportunities, it said on Wednesday after reporting worse than expected fourth-quarter results against a sectoral backdrop dominated by margin pressures. The chemicals industry has been grappling with weak demand and high input costs, leading to lower prices and squeezed margins. SABIC, one of the world's largest petrochemicals companies, posted a net loss of 1.89 billion riyals ($504 million) for the three months to December 31, against a loss of 1.73 billion riyals a year earlier. Analysts had expected a profit of a little more than 1 billion riyals, LSEG data shows.

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