MUST-READS

• Riyadh Air joins United Nations Global Compact

  NEWS Riyadh Air joins United Nations Global Compact Riyadh Air joins the UNGC with the intention to incorporate United Nations Sustainability Goals across its operations. Riyadh Air has announced it has joined the United Nations Global Compact (UNGC), the world’s largest corporate sustainability initiative that promotes responsible business practices and the advancement of the Sustainable Development Goals (SDGs). In a letter to António Guterres UN Secretary General, Riyadh Air CEO Tony Douglas officially committed Riyadh Air to implementing the Ten Principles of the UN Global Compact. As active participants of the UNGC, Riyadh Air will adopt sustainable and socially responsible policies in areas such as human rights, labour, environment, and anti-corruption and report on progress on these efforts regularly.

• Saudi Cultural Mission Hosts Indiana University Students for Intercultural Exchange

  The Saudi Arabian Cultural Mission (SACM) in the US welcomed on Monday a delegation of students from Indiana University Bloomington, as part of the Arabic Language Program to enhance communication and exchange of ideas between different cultures. The delegation was welcomed by the Cultural Attaché at Saudi Arabia’s embassy in Washington Dr. Fawzi Bukhari. The delegation toured the King Abdullah Cultural Hall and was briefed on the exhibits portraying Saudi culture, SPA reported.

• Saudi Arabia’s Islamic Trade Finance Corp to provide $1.4 billion to Bangladesh Petroleum

  The Islamic Trade Finance Corporation (ITFC) signed an agreement on Monday to provide $1.4 billion to the Bangladesh Petroleum Corporation, Saudi Arabia's state news agency SPA reported. The ITFC, part of Saudi Arabia's Islamic Development Bank, said the financing was aimed at developing Bangladesh's energy infrastructure. "This agreement is a testament to the successful long-term partnership between the two parties and the financing plan will ensure energy security for one of the fastest-growing economies in South Asia," SPA said.

• Luxury EV maker Lucid to raise $1 bln from Saudi’s PIF affiliate

  Ayar Third Investment Company, a PIF affiliate, will buy $1 billion in convertible preferred stock and will be able to convert the preferred stock into about 280 million shares, according to a filing with the U.S. securities regulator. The California-based company, which has been facing weaker-than-expected demand, said it intends to use the proceeds for corporate purposes and capital expenditure, among other things.

• Breakdown at Saudi solar plant in Morocco costs firm $47 million
  Saudi Arabian renewable energy utility ACWA Power International on Sunday reported a storage breakdown at one of the solar plants it operates in Morocco that will cost the company an estimated $47 million.
  The 150-megawatt plant, part of the Noor Ouarzazate solar complex, will be forced to remain idle until November 2024, the company said on the website of the Saudi Stock exchange.
  The breakdown highlights the recurrence of technical issues and storage breakdowns at the concentrating solar power (CSP) plant. Technical prob

• Where Water Stress Will Be Highest by 2050

  Water is not only the basis of life for animals and plants, but is also likely to become a contested resource in parts of the world in the coming decades. According to UN figures, global water stress, i.e. the proportion of water withdrawn for use in industry, agriculture or private households in relation to available water, was manageable at 18.2% in 2020. In 2022, however, 2.4 billion people were living in areas that are exposed to extreme water stress in some cases.

• Ten years to go: key questions facing Saudi Arabia’s 2034 World Cup

  Saudi Arabia will host the 2034 World Cup. We know this, despite the fact that Fifa’s bidding process does not finish until the end of 2024. But with 10 years until the tournament there is still much we don’t know. Some of these issues are important, such as the time of year in which the games will be played, but others are more significant still. With the power of the global football community to influence outcomes perhaps at its peak, here are three key areas of uncertainty

• Saudi Arabia announces Eid Al Fitr holidays for public and private sectors from April 8
  Saudi Arabia has announced a four-day holiday for both public and private sector employees for Eid Al Fitr from Monday, April 8.
  The Ministry of Human Resources and Social Development confirmed the holiday, allowing most workers to enjoy a long break from Monday until Saturday.

• Saudi prince holds extensive talks with civil, military leadership

  Saudi Defence Minister Prince Khalid bin Salman bin Abdul Aziz Al Saud’s day-long visit to Pakistan and extensive result-oriented discussions with civil and military leadership have infused a new hope for the dwindling economy of Pakistan. Chief of Army Staff (COAS) General Asim Munir visited Riyadh last week and extended an invitation for the visit in the presence of Saudi Crown Prince and Prime Minister Muhammad bin Salman. Prince Khalid is very close to his elder brother.

• Over 10 million worshipers perform prayers at Prophet’s Mosque in first 10 days of Ramadan

  The General Authority for the Care of the Affairs of the Grand Mosque and the Prophet's Mosque has announced that during the first 10 days of Ramadan the Prophet's Mosque welcomed a total of 9,818,474 worshipers and visitors.

  This influx was managed alongside integrated and high-quality services that facilitated smooth and efficient prayer sessions for the crowds.

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