MUST-READS

• Saudi Aramco begins issuing US dollar-denominated bonds

  Energy giant Saudi Aramco has started issuing US dollar-denominated international bonds under its Global Medium Term Note Program. In a statement on Tadawul, Aramco disclosed that the bonds have a minimum subscription of $200,000, with the offering price and value determined based on market conditions. The offering began on July 9 and is set to conclude on July 17. This marks the state oil firm’s return to the debt market after a three-year hiatus. The last time it tapped the global debt markets was in 2021, raising $6 billion from a three-tranche sukuk, or Islamic bond. In February, it indicated plans to issue another bond this year.

• Inside Saudi Arabia’s royal palaces being transformed into luxury tourism hotspots

  PIF-owned hospitality company, the Boutique Group, is working to develop significant cultural and historical palaces across Saudi Arabia, to transform them into ultra-luxury boutique hotels. Royal palaces across Saudi Arabia – including the former residence of King Saud bin Abdulaziz and ones that have hosted international figures like former US President Richard Nixon and the late Princess Diana – are undergoing a renovation and restoration project to preserve the historical sites and transform them into luxury tourism destinations.

• Saudia launches new Saudi Coffee Finjal collab

  Saudia, the national carrier of Saudi based in Jeddah, has revealed a brand new Saudia Saudi Coffee Finjal collab with the Saudi Culinary Arts Commission. The new launch highlights five uniquely designed finjals (small coffee cups), each drawing inspiration from five different regions in Saudi.

• Aramco Digital, World Wide Technology ink partnership to transform Saudi Arabia’s AI infrastructure

  “Last year we announced our ambitious plans to expand into the Middle East region with the goal of establishing a US-centric technology innovation hub. Today’s partnership with Aramco Digital marks a significant chapter in our mission to provide cutting-edge technology solutions in the region,” said Omar Mir, International Board Member at World Wide Technology.

• How Swizz Beatz Climbed to the Top of Saudi Arabia’s Camel Racing Scene

  He now travels to Saudi Arabia so often that he considers it a second home. He is a co-founder of a roller-skating rink in the desert retreat of AlUla, where the camel race was held, and keeps an apartment in the capital, Riyadh; a few years ago, he was granted Saudi citizenship.

• Saudi Arabia Tops Edelman’s Trust Index for National Leadership

  Saudi Arabia has topped the global trust rankings in Edelman’s 2024 Annual Trust Barometer. The report from the global consulting and PR firm shows that 86% of Saudi citizens trust their government to make key decisions for the country’s goals. The 24th edition of the report also finds that 78% of respondents trust the Saudi business sector, and over 80% have strong confidence in the nation's leaders and scientists to manage innovation.

• Who were granted Saudi citizenship?

  A Royal Decree was issued to grant Saudi citizenship to a number of scientists, physicians, researchers, innovators, entrepreneurs, and distinguished talents with unique expertise and specializations.

• A new esports tournament in Saudi Arabia promises to be a game-changer – but it’s also caused division in the industry

  The Esports World Cup (EWC) – which began on July 3 – has brought together professional gamers, publishers and fans from across the world for an eight-week competitive gaming bonanza. Its record-breaking prize pool of more than $60 million has raised eyebrows and Ralf Reichert, CEO of the Esports World Cup Foundation which is organizing the event, told CNN Sport that the spectacle will help unite the industry.

• Saudi King, Crown Prince congratulate new Iran president on election win

  Saudi Arabia’s King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman congratulated the new president of Iran, Masoud Pezeshkian, on his election victory. “On the occasion of your victory in the presidential elections in the Islamic Republic of Iran, we are pleased to send you our sincere congratulations and best wishes for success, looking forward to continuing to develop relations between our two brotherly countries and peoples, and continuing coordination and consultation in order to enhance regional and international peace and security.”

• Abu Dhabi International Book Fair Expands Access to Literature

  From April 29 to May 5, thousands of people filled the vast halls of Abu Dhabi’s largest conference center to attend the 33rd annual Abu Dhabi International Book Fair. While the event itself was founded in 1981, the scale and impact of the fair have grown tremendously. In 2020, for example, the fair took place over two days at a small cultural center on Saadiyat Island, an artificial island home to the United Arab Emirates’ Cultural District. Three years later, the fair had grown into a weeklong vibrant and expansive festival, providing a platform for more than 1,350 exhibitors from 90 countries – almost 150 more than the 2023 fair and including 12 additional countries. More than 230,000 visitors enjoyed free access to a wide variety of talks, book signings, and exhibitions. At the fair’s conclusion, more than 160,000 books were sold.

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