MUST-READS

• Commentary: The longshot plan to end the war in Gaza and bring peace to the Middle East

  “The Saudis have a global and regional leadership role in the Islamic world that the others don’t have,” said Hussein Ibish, senior resident scholar at the Arab Gulf States Institute in Washington. “They have [more than] 30 million people and a lot of regional factions and divisions, so they have to worry about their internal political stability as well as their Arab leadership role.”

• Despite Oct. 7, Netanyahu is determined to run for reelection, and certain he can win

  Netanyahu believes that Israel is in the midst of a war that will last for many years to come and that only he is fit to lead this challenge. More than that though, he is convinced that he will win an election — perhaps in the coming months — if a proposal for a hostage deal comes to a vote and wins the expected majority it needs to pass.

• The Emergent Gulf Sovereign Wealth Fund-Global Tech Nexus

  These efforts are not just garnering global attention but also – in some cases – paying off. On April 15, Microsoft announced a $1.5 billion strategic investment in G42 for a minority stake and Microsoft’s vice chair and president, Brad Smith, joining the Emirati company’s board. At Saudi Arabia’s annual tech-focused LEAP conference, Amazon Web Services announced plans to spend $5.3 billion to create a new infrastructure region in the kingdom. Gulf countries are racing to build data centers with the help of local, Asian, and Western companies.

• Perspective: Unfairly Maligned? The Cost of Mediation on Qatar-U.S. Relations

  Moreover, many of Qatar’s past actions toward Gaza that voices within the United States and Israel now denounce were implemented at the behest of officials in Washington and Tel Aviv. A look back at Qatari mediation in Gaza over the past decade could remind U.S. policymakers of Qatari maneuverability in the region when crises erupt.

• Saudi Arabia’s Deserts have been turning green around the Holy Cities

  After heavy rains, parts of Saudi Arabia’s desert near Mecca and Medina have turned green. This transformation, particularly in the West, is due to excess water, leading to the growth of grass and plants. Photos show camels grazing on fresh grass, and once arid areas are now vibrant with color. This unusual sight has also been visible from NASA satellites.

• Saudi Arabia’s non-oil business activity growth steady in April
  Saudi Arabia's non-oil business activity grew at a steady rate in April despite a slowdown in new order growth, a survey showed on Sunday, with domestic demand driving output.
  The seasonally-adjusted Riyad Bank Saudi Arabia Purchasing Managers' Index stood at 57.0 in April, the same as March, and well above the 50.0 mark denoting expansion in activity.
  The Output subindex retreated slightly to 61.9 in April from a six month high of 62.2 the previous month, but continued to reflect strong demand conditions, with Wholesale & Retail registering the strongest expansion in output.

• Saudi PMI stabilizes at 57 points in April, business activity up sharply

  The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI), formerly S&P Global Saudi Arabia PMI, kept unchanged at 57 points in April 2024.   The non-oil private sector saw a strong operational improvement in April.   Meanwhile, business activity hit sharply at the beginning of the second quarter, according to sub-sector data, the wholesale and retail businesses witnessed the strongest expansion in output.

• 30% of cars sold in Saudi Arabia bought by women last year
  Japan, South Korea and the US stood out among the main suppliers of cars to Saudi Arabia over the past two years, according to the Saudi news agency SPA. Car sales in Saudi Arabia last year reached around 730,000, of which 30 per cent were bought by women, according to market observers.
  Car sales are expected to surge to 870,000 this year.

• Saudi Arabia among top 20 global car markets

  The Saudi car market has solidified its position as a leading automotive market, making it one of the top 20 car markets globally.

  The market represents more than half of all car sales in the Gulf Cooperation Council (GCC) countries. The Zakat, Tax and Customs Authority (ZATCA) recently announced that over 160,000 cars were imported into Saudi Arabia during the 2022-2023 period. In 2023 alone, 93,199 cars were imported, while 66,870 cars were imported in 2022.
  • Gulf News - 30% of cars sold in Saudi Arabia bought by women last year
• Saudi Arabia’s fintech sector driving digital transformation

  Saudi Arabia’s fintech sector has made significant strides as it nears its goal to become a regional financial hub, according to a report by Arthur D. Little. In its latest study titled “Realizing Potential of Fintech in Kingdom of Saudi Arabia,” the international management consulting firm highlighted the rapid growth and innovation within the sector, spearheaded by initiatives such as Fintech Saudi.

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