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Saudi Crown Prince Mohammed bin Salman Heads to Turkey after Visiting Jordan, Egypt
Saudi Crown Prince Mohammed bin Salman landed in Turkey for the first time in several years on Wednesday for talks with President Erdogan, after visiting neighboring Egypt and Jordan as part of a regional tour, Reuters reports.
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Leaked Image Appears to Show Lucid Motors First Saudi Showroom in Riyadh
U.S.-based Lucid Motors appears poised to open its first showroom in Riyadh, a photo published on an EV-focused news site confirms.
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Saudi Arabia is ‘Experiencing a Housing and Mortgage Boom’ as Vision 2030 Reform Efforts Drive Progress
Saudi Arabia is “experiencing a housing and mortgage boom, reflecting a government drive to boost home ownership as part of efforts to shake up the oil kingdom’s economy and its ultraconservative society,” the Financial Times reports.
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Report: Kingdom to Use Some Oil Windfall on Boosting Private Sector
Saudi Arabia’s minister of economy and planning Faisal Alibrahim said the Kingdom will use this year’s oil windfall to accelerate the economy’s diversification from fossil fuels, Bloomberg reports.
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Saudi Arabia’s tourism sector, carbon capture investments, and a conversation on Saudi-Iraqi history with Joshua Yaphe
In episode 43, the U.S. State Department’s Joshua Yaphe joins The 966 to discuss his book, “Saudi Arabia and Iraq as Friends and Enemies: Borders, Tribes and a Shared History.” Yaphe is a foreign affairs officer with the U.S. Department of State; responsible for research and analysis of political, economic, security and social affairs related […]
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Report: Saudi to Add Over $10b in Mining, Mineral Opportunities
Saudi Arabia is planning to offer several projects to the private sector to tap its massive mineral wealth with a value of more than 40 billion Saudi riyals ($10.6 billion), Zawya reports, citing a local newspaper.
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Saudi Stock Market Continues Hot Streak, is Sixth Strongest Globally in 2022
Saudi Arabia’s benchmark index, the Tadawul All Share Index (TASI), is the sixth best performing globally “and gains may not be over yet,” analysts and fund managers believe, according to Bloomberg.
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Saudi foreign policy, globalization, and the ‘shrapnel’ from Russia’s invasion of Ukraine with Afshin Molavi from Johns Hopkins SAIS
Episode 35 of The 966 includes a terrific conversation with author, thought leader, and emerging markets expert Afshin Molavi, Senior fellow at the Foreign Policy Institute of the Johns Hopkins University School of Advanced International Studies (SAIS), and founder and editor of the Emerging World newsletter (eworld.substack.com). The hosts talk with Afshin about his recent piece, ‘Putin’s […]
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U.S. Navy Announces New Multinational Task Force to Patrol Red Sea off Yemen Coast
The U.S. Navy on Wednesday said it was establishing a new multinational task force that would target arms and other smuggling in the waters around Yemen, in a show of support for Saudi Arabia and the UAE with American power after persistent Houthi attacks.
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Foreign Ownership in Saudi Stock Market Grows to $107.8 Billion – Report
According to a report from the Okaz/Saudi Gazette, the ownership of foreign investors in the Saudi stock market jumped to SR404.26 billion ($107.8 billion), or 3.36 percent of the total market value of the listed companies.
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MUST-READS
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Saudi Arabia makes significant moves in semiconductor sector with strategic investments
To this end, the Kingdom has launched a billion-riyal investment fund dedicated to semiconductor companies and established the National Semiconductor Hub. At least 50 semiconductor design companies will be established in Saudi Arabia by 2030, supported by a deep tech venture capital fund exceeding SR1 billion ($266 million) as part of a new tech hub.
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Saudi ports report 15.72% growth in container handling for July
According to Arab News, the latest statistics from the Saudi Ports Authority, known as Mawani, revealed that the Kingdom’s terminals received 271,465 standard containers in July, up from 234,592 in July 2023. The volume of handled tonnage also increased by 9.11 percent year on year, reaching 27.38 million tonnes.
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Driving Reductions in Emissions: Unlocking the Potential of Fuel Economy Targets in Saudi Arabia
The adoption of more stringent fuel economy standards represents a pivotal pathway toward achieving net zero emissions in the transportation sector. By steadily increasing the fuel efficiency of vehicles, this approach drives a gradual but consistent decline in emissions. When coupled with the simultaneous integration of electric and alternative fuel vehicles into the market, the goal of net zero emissions becomes increasingly feasible.
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Impacts of Ride-Hailing on Energy and the Environment: A Systematic Review
Ride-hailing has expanded substantially around the globe over the last decade and is likely to be an integral part of future transportation systems. Through a systematic review of the literature concerning the energy and environmental impacts of ride-hailing, we have identified a dichotomy between empirical findings and theoretical projections.
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Air Force-facilitated arms export sales reach all-time high
Foreign countries are buying more weapons through the U.S. Air Force than ever before, due in large part to global instability, officials say. “Business has been booming, I understand, for this team, as events happen around the world and our partner nations recognize that it's a dangerous world once again, things like Russia invading Ukraine,” said Brig. Gen. Jeffrey Geraghty, the director of the Air Force’s Security Assistance and Cooperation Directorate.
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Taekwondo-Abutaleb falls short of medal but breaks new ground for Saudi women
Saudi Arabia's taekwondo athlete Dunya Abutaleb failed to win a medal at the Paris Games on Wednesday but broke new ground for women in her country as she just missed out on bronze. The 27-year-old, who came third at the 2022 World Championships in the flyweight (-49 kg) category, is the first Saudi woman to earn direct qualification to the Olympics.
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Saudi Arabia to host donor conference for Sahel region in Jeddah in October
Saudi Arabia will host a donor conference to support internally displaced persons and refugees in the Sahel and Lake Chad region in Jeddah on October 26 this year.
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Stunning Blue Waters Is Not What You’d Expect From This Up-and-Coming Destination
Within the grass-dappled desert around Six Senses Southern Dunes in northwestern Saudi Arabia, where camels graze at a distance and the only sound is the fizz-pop of sparkling water, a small folding table covered in a white linen cloth awaits me. Atop it: a barbecue platter so full, so juicy, it triggers a growl in my stomach like a well-timed Foley effect. There’s grilled wagyu striploin, chicken kebabs and lamb chops, roasted potatoes and grilled asparagus—a comical amount of food for a party of one.
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Industry Ministry opens bidding for 7 exploration licenses on 1,000 sq. km areas
This is part of the ministry’s Accelerated Exploration Program initiative, which aims to expedite the exploration and development of the Kingdom’s estimated SR9.3 trillion worth of mineral resources, in line with the Saudi Vision 2030 objective of making the mining sector the third pillar of the national industry.
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Saudi Institutions Intensify Efforts to Activate Maritime Shipping Lanes with Djibouti
Three Saudi government and private entities are leading intensive efforts to activate maritime shipping lanes between the Kingdom and the Republic of Djibouti, to maximize the benefits of Saudi Logistics City in the Port of Djibouti's free zone. The city, established through an agreement signed in June, enables Saudi exports to reach 500 million consumers in East African markets. It will have permanent warehouses, yards, logistics services, and administrative facilities, and will provide investors and traders with all storage requirements.
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