MUST-READS

• Top EM Manager: ‘Sportswashing’ Claims Show Saudi’s Fight For Survival

  There's absolutely no question that sport is great business. They're coming from a long way back and therefore they need heavy investment in business in order to get control. And in the short term, the beneficiaries are sports people. I don't know why there is a concern about sports people who have worked all their lives for a particular goal, being well rewarded for what they're doing, being described as sportswashing.

• Saudi Arabia takes on debt to finance its megaprojects

  Nevertheless, the risks, which the kingdom has carefully considered, remain manageable: Saudi Arabia's public debt is low (26.5% of GDP in 2023, compared with 65% in Germany and 112% in France), and its fiscal room for maneuver is substantial.

• Saudi Aramco gas output to rise 60% by 2030 – Exec

  Saudi state energy giant Saudi Aramco will increase gas output by 60% by 2030, Aramco's Executive Vice President for Strategy and Corporate Development Ashraf Al Ghazzawi said at an energy conference on Wednesday. Aramco recently halted plans to expand oil output capacity and is focused on developing unconventional gas fields similar to U.S. shale fields in the kingdom. The company has also said it is looking at opportunities to invest in liquefied natural gas (LNG) projects abroad.

• Saudi consumers spend $3.11billion during first week of Ramadan

  The number of point-of-sale operations in Saudi Arabia during the first week of Ramadan (March 10-16) reached 168,615,000, with a value of SR11,688,154,000. According to the weekly bulletin for points of sale, issued by the Saudi Central Bank (SAMA), the number of operations in clothing and shoes reached 6,283,000 with a value of SR914,909,000 while the number of operations in construction materials stood at 1,522,000, with a value of SR307,596,000.

• Saudi Arabia pledges $40M to support UN agency for Palestinian refugees

  Saudi Arabia announced Wednesday that it will donate $40 million to the UN agency for Palestinian refugees (UNRWA), which has been under pressure following funding cuts due to Israeli allegations, the Saudi Press Agency reported. The King Salman Humanitarian Aid and Relief Centre (KSrelief) signed a $40 million financial support memorandum with UNRWA to support its emergency appeal in Gaza, said the report.

• Saudi Arabia could become the largest player in the AI industry

• Blinken adds Israel stop to latest Mideast tour as tensions rise over Gaza war

  U.S. Secretary of State Antony Blinken will travel to Israel this week as part of his sixth urgent mission to the Middle East since the Israelis’ war with Hamas began in October, as relations between the two countries have soured dramatically in recent weeks. The visit comes amid a flurry of calls, planned trips by U.S. and Israeli officials and public airings of severe disagreements over the state of the conflict — notably Israeli plans to mount a major military operation in the southern Gaza city of Rafah and what will happen to Gaza after the war ends.

• The four Grand Slams, the two tours and Saudi Arabia are all hoping to revamp tennis

  Tennis could be on the verge of massive structural change if one of two separate proposals formulated by the four Grand Slam tournaments and the WTA and ATP professional tours ends up moving forward

• Secretary Blinken’s Meeting with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud

  Secretary of State Antony J. Blinken met today with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud. The Secretary and the Foreign Minister discussed the urgent need to protect all civilians in Gaza and immediately increase humanitarian assistance to those in need. Secretary Blinken stressed the importance of continued close coordination with regional and international partners on resolving the conflict in Gaza and preparing for the post-conflict phase. The Secretary emphasized the United States’ commitment to achieving sustained peace through the establishment of an independent Palestinian state with security guarantees for Israel. The Secretary and Foreign Minister also discussed the importance of ending the conflicts in Sudan and Yemen.

• FIFA Series 2024 Saudi Arabia™ Set to Commence This Thursday in Jeddah

  FIFA has announced its support for its member federation in facilitating a set of international friendly matches. These games will include the participation of four national teams from diverse continental federations and will all take place in a single host country, with Saudi Arabia accommodating two such groups. Jeddah is poised to welcome the teams, staging the matches at the reserve stadium of King Abdullah Sports City and Prince Abdullah Al-Faisal Sport City Stadium, scheduled from March 21 to March 26 this year.

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