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Secretary of State Blinken, Saudi FM Faisal bin Farhan Speak by Phone amid Diplomatic Uptick
U.S. Secretary of State Antony Blinken and Saudi Foreign Minister Prince Faisal bin Farhan Al Saud spoke by phone this week to discuss Saudi Arabia’s efforts to prolong a fragile, Saudi-brokered truce in Yemen, the U.S. Embassy in Saudi Arabia said on Tuesday.
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Spotlight on Saudi at Davos, island diplomacy, and legal reforms with Saudi-based attorney Chris Johnson
In Episode 45 this week, The 966 hosts welcome back Saudi-based attorney Chris Johnson to discuss Saudi Arabia’s new personal data privacy law, investment law, and other ongoing legal and regulatory reforms taking place in the Kingdom. Before that conversation, the hosts discuss Saudi Arabia’s strong presence at the World Economic Forum in Davos, an […]
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Kingdom Re-Launches Airports Privatization Strategy, Eyes 2023 Opening for Major Red Sea Tourism Project
Saudi Arabia is relaunching its strategy to privatize its airports in order to secure investment as it seeks to triple annual visitor numbers by 2030.
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Jon Alterman from the Center for Strategic and International Studies joins The 966 to talk about the Middle East in an evolving global order, U.S.-Saudi relations
In Episode 42, the ever-insightful Dr. Jon Alterman from the Center for Strategic and International Studies (CSIS), one of the leading think tanks in Washington, joins The 966 to talk about a changing global order and the Middle East’s role in it. The hosts ask Jon about his work to-date, including building the fascinating and […]
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Saudi Arabia Will Purchase Up to 100,000 Lucid Vehicles, Company Says
Electric carmaker Lucid Group Inc., which is owned by Saudi Arabia’s Public Investment Fund (PIF) on Tuesday said it has signed an agreement with the government of Saudi Arabia for the purchase of up to 100,000 of its vehicles over the next 10 years, according to Reuters.
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Saudi Arabia’s Stock Market to Launch Single-Stock Futures Trading Soon
Saudi Arabia’s stock exchange will launch single-stock futures (SSFs) trading soon in an effort to boost liquidity on the market, the CEO of the Tadawul Mohammed Al-Rumaih told a local source, according to Arab News.
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Former USMTM Chief Col. Brad Gandy Joins The 966 to Talk U.S.-Saudi Defense, Security Partnership and More
Episode 33! On last week’s episode, we talked about the huge transformation going on in Saudi Arabia’s military and USMTM’s role in it with author Bilal Saab, who has a book coming out on the subject. This week, the head of the USMTM from 2019-2021, Col. Brad Gandy, who heard last week’s episode and agreed […]
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Saudi Arabia Seeks to Launch Middle East’s First Carbon Exchange with Aramco, ACWA
Saudi Aramco and ACWA Power may be the first of a total of five companies to join a new carbon exchange set up by the Kingdom’s Public Investment Fund (PIF), according to Bloomberg.
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Analysts Question Reported Saudi Interest in Pricing Some Oil in Yuan
The Wall Street Journal reports that Saudi Arabia is in active talks with China to price some of its oil sales to China in yuan instead of the dollar, in what would be a “profound shift” for Saudi Arabia to price even some of its roughly 6.2 million barrels of day of crude exports in anything […]
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Saudi Aramco Joint Venture to Build Refinery and Petrochemical Complex in China; Delivery Date in 2024
Saudi Aramco and its joint venture (JV) partners will develop a refinery and petrochemical complex in China to be delivered in 2024, according to a report in the industry publication Offshore Technology.
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MUST-READS
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Saudi Arabia signs 1,100 MW of PPAs at “record low” price for wind
Saudi Arabia has signed two power purchase agreements (PPAs) with a consortium led by Japan's MARUBENI Corp. (TYO:8002) for 1,100 MW of wind energy capacity, claiming that it has achieved a world "record low" price for wind energy at USD 15.65 (EUR 14.35) per MWh.
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Saudi Arabia’s NEOM: New video shows rapid progress at mega project, workers doubled
Saudi Arabia’s NEOM has unveiled a new progress video showing rapid development being made on the mega business and tourism project, with more than 140,000 construction workers developing key regions across the futuristic site.
The progress film shows real-world footage of the large-scale construction across the mega site and revealed its workforce has doubled over the past year.
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Knight Frank: The Saudi Report – 2023
In this Saudi Report 2023 Highlights special, we have identified five stand-out opportunities to consider that will help deliver the ambitions of Vision 2030 and which align with our market experience, all confirmed by our survey. You can read the full analysis of the data gathered through our three
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Saudi Arabia rises 9 spots in WEF’s global tourism index
Saudi Arabia has climbed nine spots to rank 41 on a global tourism index – marking the Gulf region’s largest improvement – thanks to its strengthening infrastructure, corporate presence, and major business centers. According to the World Economic Forum’s Travel & Tourism Development Index report, Saudi Arabia has recorded the most significant improvement in the Middle East and North Africa region since 2019.
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New 9/11 Evidence Points to Deep Saudi Complicity
Some of the disputes are less about facts than about interpretation. The Capitol video, in the Saudi view, is nothing more than a typical home movie by an enthusiastic tourist; the San Diego video of Bayoumi’s party in the hijackers’ apartment is said to depict a gathering of mosque-goers for some purpose unrelated to the presence of two newly arrived al-Qaeda terrorists. If the court denies the Saudi motion to dismiss in the coming months, we will know whose view of the evidence has been the more persuasive.
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Iranian’s President’s Death Compounds Regional Turmoil
The unexpected May 19 death of Iran’s President Ibrahim Raisi in the crash of the helicopter returning him and Foreign Minister Hossein Amir-Abdollahian from an official visit to neighboring Azerbaijan will not produce any short-term changes in Iranian domestic or regional policies. Raisi’s passing will scramble the internal maneuvering to succeed Iran’s 85-year-old Supreme Leader, Grand Ayatollah Ali Khamene’i. The crash comes amidst major regional turmoil triggered by the October 7 Hamas attack on Israel and the subsequent Israeli ground offensive in Gaza, as well as ongoing public unrest within Iran that caused turnout for parliamentary elections on March 1 to be the lowest since the Islamic Republic came to power in 1979.
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WTA signs multi-year partnership with Saudi PIF
The Saudi Public Investment Fund (PIF) will become the first-ever naming partner of the WTA's rankings, the two organisations announced on Monday, as part of a multi-year partnership.The announcement marks the PIF's latest foray into tennis, after the men's ATP tour also signed a multi-year "strategic partnership" earlier this year."Together, we look forward to sharing the journey of our talented players across the season, as we continue to grow the sport, creating more fans of tennis and inspiring more young people to take up the game," WTA Ventures CEO Marina Storti said in a statement.
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IBM makes more AI models open source and lands Saudi Arabia deal
International Business Machines (IBM.N), opens new tab on Tuesday said that it will release a family of artificial intelligence models as open-source software, and that it will help Saudi Arabia train an AI system in Arabic.The Armonk, New York-based company has taken a different approach to making money from AI than some of its rivals such as Microsoft (MSFT.O), opens new tab and others that are tightly guarding their AI models and charging for access to them. Similar to Facebook owner Meta Platforms (META.O), opens new tab, IBM is instead providing open access to the models themselves and on Wednesday opened its "Granite" family of AI models for companies to customize.
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Blinken: Israel ‘may not be willing’ to accept Palestinian statehood for Saudi normalization
Blinken confirmed in testimony to Congress that the United States is seeking a bilateral agreement with Riyadh that involves normalization with Israel. "We have sought to move forward in negotiating the bilateral US-Saudi aspects of a normalization agreement between Saudi Arabia and Israel. But even if we were to conclude those agreements — and I believe we actually can conclude them relatively quickly, given all the work that's been done — they could not go forward and the overall package could not go forward, absent other things that have to happen for normalization to proceed," the top US diplomat said. Read more: https://www.al-monitor.com/originals/2024/05/blinken-israel-may-not-be-willing-accept-palestinian-statehood-saudi#ixzz8axdXIPGk
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US says Israel-Saudi normalisation needs Gaza quiet, talks on Palestinian rule
Forging formal Israeli-Saudi relations as part of an emerging trilateral deal involving Washington would require a calming of the Gaza war and a discussion of prospects for Palestinian governance, the U.S. envoy to Jerusalem said on Tuesday."There's going to have to be some period of quiet, I think, in Gaza, and there's going to have to be a conversation about how do you deal with the question of the future of Palestinian governance," ambassador Jack Lew said.
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