MUST-READS

• Saudi Arabia offers 7 mineral exploration licenses

  Saudi Arabia’s Ministry of Industry and Mineral Resources announced today, Oct. 22, opening bidding to local and international investors for seven new mineral exploration licenses in Makkah and Riyadh on an area of nearly 1,070 km2, the state-owned SPA reported. The offered exploration sites include quality mineral resources and precious metals, including base metals, such as gold, copper, zinc, lead and silver across several sites. Four sites are situated in Makkah.

• Women footballers call on FIFA to end partnership with Saudi Aramco
  A group of over 100 professional women's soccer players on Monday sent an open letter to FIFA urging the world governing body to end its partnership with oil and gas conglomerate Saudi Aramco. In April, FIFA signed a four-year deal which will see Aramco become a worldwide partner, including in major tournaments such as the 2026 World Cup and the Women's World Cup the following year. Saudi Arabia has invested heavily in sports like soccer, Formula One and golf in the last few years while critics, including women's rights groups and members of the LGBTQ community, accuse the kingdom of using its Public Investment Fund (PIF) to "sportswash" its human rights record.

• Saudi Arabia ‘in talks’ to invest in Qatar’s BeIN Sports

  Saudi Arabia has held talks to acquire Qatari sports broadcaster BeIN Sports, according to The Telegraph. The newspaper reports that negotiations began immediately after the Saudi Arabia’s Public Investment Fund’s (PIF) takeover of Premier League club Newcastle United in October 2021, and have continued since then. BeIN is the second sports broadcaster to be linked with Saudi investment this month, with the PIF denying it was in talks to take a stake with streaming service DAZN.

• IMF lowers Saudi Arabia’s 2024 growth forecast to 1.5%
  The International Monetary Fund further lowered its GDP growth forecast for Saudi Arabia for 2024 to 1.5% and estimated growth to accelerate to 4.6% next year in its latest World Economic Outlook Report released on Tuesday. In July, the IMF lowered its GDP projections for Saudi Arabia's 2024 GDP by nearly a percentage point from its April estimates to 1.7%. Growth for the Middle East and Central Asia region is forecast at 2.4% in 2024, and projected to increase to 3.9% next year as temporary disruptions to oil production and shipping are expected to fade away, the IMF said.

• Carrefour probes Saudi partner’s work practices after Amnesty report

  French supermarket retailer Carrefour has initiated a review of employment practices at its Saudi Arabia franchise partner, Majid Al Futtaim (MAF), in response to concerns raised by Amnesty International, Reuters has reported A report by the human rights organisation, published on 21 October 2024, levelled allegations of underpayment and excessive working hours among employees, particularly migrants, at Carrefour/Majid Al Futtaim stores in Saudi Arabia.

• Top US diplomat heading to Saudi Arabia for Gaza ceasefire efforts

  The top US diplomat is heading to Saudi Arabia on Wednesday as part of Washington's efforts to reach a ceasefire in Gaza and potentially in Lebanon, sources familiar with his trip told Al Arabiya English. Secretary of State Antony Blinken arrived in Israel where met Prime Minister Benjamin Netanyahu on Tuesday and said that the latter needed to “capitalize” on the killing of Hamas chief Yahya Sinwar to secure the release of Israeli hostages and end the war in Gaza.

• Blinken urges halt to Middle East conflict as Israel bombs historic Lebanese port
   U.S. Secretary of State Antony Blinken pushed on Wednesday for a halt to fighting between Israel and militant groups Hamas and Hezbollah, but heavy Israeli air strikes on a large historic Lebanese port city demonstrated that there was no respite. Israel began to bomb the UNESCO-listed port of Tyre in south Lebanon roughly three hours after issuing an order online for residents to flee central areas. Huge clouds of thick smoke billowed above residential buildings.

• Twenty reported killed in Gaza as Israel intensifies siege of north
  Israeli strikes across Gaza killed 20 people on Wednesday as Israeli forces intensified a siege of northern parts of the Palestinian enclave, surrounding hospitals and refugee shelters, and ordering residents to head south, medics and residents said. The Gaza health ministry and the World Health Organization said they would be unable to start a polio vaccination campaign in northern Gaza as planned because of the intense bombardments, mass displacements and lack of access.

• Russia, Iran, China could stoke post-election violence, US intelligence officials say
  Russia, China and Iran are intent on fanning divisive narratives to divide Americans ahead of the Nov. 5 U.S. elections and may consider fomenting violence after voters go to the polls, U.S. intelligence officials said on Tuesday. The officials, briefing reporters on U.S. election security, said foreign actors could consider physical threats and violence, and are highly likely to conduct disinformation operations to create uncertainty and undermine the election process.

• Identifying key issues in Saudi commercial sector for regulatory review: Report

  Private companies and institutions in Saudi Arabia are actively compiling a list of challenges facing the commercial sector, along with proposed solutions, in preparation for submission to the relevant authorities, Asharq Al-Awsat reported. The newspaper noted that the National Commercial Committee within the Federation of Saudi Chambers urged its member companies and institutions to participate in identifying challenges related to the commercial sector and to propose solutions for review before presenting them to the authorities concerned. These challenges will be submitted to various entities, including the ministries of Commerce, Human Resources and Social Development, Finance, and Municipalities and Housing, as well as the General Directorate of Civil Defense.

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