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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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Mae Al-Mozaini, CEO and co-founder of Nusf, joins The 966 to talk about women’s empowerment in Saudi Arabia
Mae Al-Mozaini, Founder and CEO of the Arab Institute for Women’s Empowerment (Nusf) and former Aramco executive talks with The 966 about her experiences growing up in Saudi Arabia, working with Aramco, and the positive impact Nusf is having by empowering future female Saudi leaders.
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Poll Finds Bipartisan American Support for High Gas Prices over Russian Invasion, NATO Support
Two weeks on in Russia’s invasion of Ukraine, a poll of American attitudes on the war finds bipartisan support for U.S. energy sanctions against Russia even if that results in higher gas prices.
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Market-Leading Pharmacy Firm Nahdi Seeks Up to $1.36 billion in Saudi Arabia’s Biggest IPO Since Aramco
Nahdi Medical Co, Saudi Arabia’s market leader in retail pharmacies, “aims to raise up to 5.11 billion riyals ($1.36 billion) in the country’s biggest initial public offering since Saudi Aramco’s listing in 2019,” Reuters reports.
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Veteran Saudi Journalist Khaled Almaeena Joins The 966 to Talk Ukraine, Energy Markets, and More
Khaled Al-Maeena, Saudi journalist, commentator, businessman and the former editor-in-chief of the Saudi Gazette and Arab News joins The 966 for Episode 28 to talk about Saudi Arabia’s role in energy markets, the war in Ukraine, and much more.
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Amr Khashoggi joins The 966 to talk Saudi foreign policy, Vision 2030 and more
Saudi businessman and philanthropist Amr Khashoggi, chairman of Amkest Group, joins The 966 to talk about some interesting developments in the mining and minerals sector in Saudi Arabia, the red hot Saudi IPO market, Saudi foreign policy, Saudi Arabia’s economy and Vision 2030 and many more topics in episode 27 of the program.
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Saudi Arabia’s Capital to Get Yet Another New Development: The Avenues Riyadh
The list of new or revitalized real estate developments in Riyadh grew this week with the announcement of a new multi-purpose district called “The Avenues Riyadh,” located in the city’s north west area.
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Dustin Johnson Off to Strong Start as Saudi International Golf Tournament Begins
Dustin Johnson’s bid for a third victory at the Saudi International began with a 5-under 65 in the first round of play at the Royal Greens Golf Club in King Abdullah Economic City in Saudi Arabia.
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Three Killed, Six Injured in Deadly Houthi Drone Attack on UAE Capital
Yemen’s rebel Houthi movement said Monday it had carried out a military attack on the United Arab Emirates, attacking the airport in Abu Dhabi and an industrial area and killing three people, according to reports.
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The war in Gaza passes a bleak, bloody milestone
On Thursday, the Gaza Health Ministry announced that the enclave’s death toll amid the ongoing Israeli offensive against militant group Hamas had surpassed 40,000 people. That statistic is grim in its own right, though implicit in it, too, is the staggering scale of destruction in Gaza — the quantifiable damage unleashed by Israel’s relentless bombardments of the territory and the unquantifiable toll of misery and suffering experienced by a hungry population, struggling for safety in a Gaza where no area seems safe.
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Mpox virus detected in Pakistan, health authorities say
A new form of the virus has triggered global concern because it seems to spread more easily though routine close contact. A case of the new variant was confirmed on Thursday in Sweden and linked to a growing outbreak in Africa, the first sign of its spread outside the continent.
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Saudi Arabia welcomes Sudanese government’s decision to reopen border crossing to aid
Saudi Arabia on Thursday welcomed the Sudanese sovereign council’s decision to allow the use of the Adre border crossing with Chad for three months to enable the entry of aid into areas of the Darfur region. The Kingdom’s foreign ministry said it notes the positive impact of this step in addressing humanitarian needs, facilitating the delivery of aid, and ensuring the safety of humanitarian workers.
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Saudi Arabia to Reduce Big Spending on Oil Sector, Goldman Says
Saudi Arabia is expected to put less money into the oil industry than initially predicted in its goal to invest $1 trillion in strategic sectors by the end of the decade. The Gulf kingdom will likely direct the majority of its funds, around 73% of total investments, into non-oil sectors by 2030, according to Goldman Sachs Group Inc., a shift from the bank’s earlier estimate of 66%.
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The Houthis’ Achilles Heel
In recent months, as the United States has struggled to deter and degrade the Houthis, Yemen’s United Nations-recognized government has worked to dramatically increase economic pressure on the group. The economy, in particular revenue and liquidity, is the Houthis’ Achilles heel. This is where the group is most vulnerable, and this is exactly where the government in Aden is pressing. This approach, however, also carries significant risks. In the short term, increasing economic pressure on the Houthis is likely to prompt them to reignite attacks on Saudi Arabia, while in the long term it could make reuniting Yemen into a single state all but impossible.
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Saudi’s PIF explains impact intention in new campaign
Saudi Arabia’s Public Investment Fund (PIF) has launched an educational content campaign to explain the relationship between its chosen sponsorships and its impact initiatives. In January, the sovereign wealth fund became a major sponsor of three major electric motorsport championships, including the FIA Formula E World Championship, as part of its mission to support the exploration of new sustainable technologies.
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Saudi Arabia’s Digital Experience Maturity Index 2024 surges to 85%
The index included the evaluation of 39 digital platforms according to four main perspectives that cover 20 themes. These perspectives included: measuring beneficiary satisfaction through the participation of more than 175,000 beneficiaries, in addition to evaluating the user experience, and the platforms’ mechanisms for dealing with their beneficiaries’ complaints.
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Saudi Aramco seeks to deepen ties with China in petrochemicals and low-carbon solutions
Saudi Aramco is looking to bolster ties with China in petrochemicals and low-carbon solutions, as the world’s largest oil and gas company seeks to diversify its business and support the net-zero goal of the world’s largest greenhouse gas emitter. “Our relationship with China has grown far beyond crude oil sales to develop into a more extensive, diversified and strategic bilateral collaboration,” Mohammed Al Qahtani, the downstream president of Aramco, said in an emailed interview with the Post.
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DP World’s first-half profit more than halves amid Middle East tensions
Dubai-owned ports and logistics company DP World reported a 59% drop in first-half profit on Thursday, as it grappled with shipping disruptions in the Red sea linked to the ongoing Israel-Hamas war in Gaza. Analysts say Middle East ports like those in the Gulf have lost out on trans-shipment traffic as ocean freight firms re-route ships around the southern tip of Africa to avoid missile and drone attacks in the Red Sea, carried out by Yemen's Houthi militants since October.
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Brewers tap growth of zero-alcohol beers in Middle East
Egyptian Mohannad Abdelazeem, 35, doesn't drink alcohol. But he does consume three or four cans per day of Moussy and Fayrouz - alcohol-free beers. Brewers including Carlsberg and Anheuser-Busch InBev (ABI.BR), opens new tab say interest is growing in such booze-free brews across the Middle East and North Africa, presenting opportunities in a region with some of the lowest alcohol consumption rates globally.
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