MUST-READS

• Nvidia AI Chips Headed to Saudi Arabia, US Reassesses Export Ban

  The U.S. initially imposed advanced semiconductor sanctions on China in 2023, citing national security concerns. In 2024, the embargo on Saudi Arabia followed for its alleged proximity to China. Interestingly, Nvidia AI chips continue to enter China via smuggling and other channels. Saudi Arabia’s engagement in the AI sector has increased, as evidenced by its participation in AI-driven initiatives and partnerships to reduce its reliance on Chinese firms. This has prompted the U.S. to reevaluate its embargo on the country.

• Aramco Digital partners with Accenture for AI-skilled workforce in Saudi Arabia

  At the core of the partnership lies building an AI-ready workforce. Aramco Digital will adopt Accenture’s LearnVantage’s AI-native platform, which uses a generative AI recommendation engine to curate learning content and offer deep capabilities – from skill gaps assessment and personalized learning to certifications – to ensure individuals gain the skills to become tech-savvy and succeed in their changing role.

• Saudi crude oil supply to China set to rise to 46 mln bbls in Oct, sources say
  Saudi Arabia's crude oil supply to China is set to rise to 46 million barrels in October, trade sources said on Thursday, after the world's top oil exporter slashed prices for Asia, boosting demand. China's top refiners Sinopec (600028.SS), opens new tab and PetroChina (601857.SS), opens new tab sought more crude for loading in October while demand from private refiners Rongsheng Petrochemical and Hengli Petrochemical held steady, they said.

• Saudi Arabia expects to get access to Nvidia’s high performance chips ‘within the next year’

  “I think within the next year,” Habib, Deputy CEO of SDAIA’s strategy management office, told CNBC’s Dan Murphy after being asked about a potential timeline. It’s a significant expectation given that the United States’ strict export controls have thus far prevented the chips’ export to the kingdom. Habib made the comments on the sidelines of GAIN, Saudi Arabia’s international AI summit, which took place in Riyadh this week.

• Three takeaways as Saudi Arabia begins 2026 World Cup qualifying with draw and win

  The third round of Asian qualifying for the 2026 FIFA World Cup began for Saudi Arabia last week and after a pair of matches against Indonesia and then China this Tuesday, the Green Falcons are sitting in second place on four points in Group C, behind leaders Japan. With rival Japan winning both of its opening matches, it sets up a fascinating clash between the two sides atop Group C next time out in Jeddah on October 10. Here, Al Arabiya English highlights three key takeaways from Saudi Arabia’s opening fixtures as it aims for a place at the 2026 FIFA World Cup in USA, Canada and Mexico.

• Aramco fosters closer collaboration with key Chinese partners

  The agreements reinforce Aramco’s ongoing contribution to China’s long-term energy security and development, support China’s participation in Saudi Arabia’s economic growth, and foster collaboration in new technology development. They include preliminary documentation relating to a Development Framework Agreement with Rongsheng Petrochemical Co. Ltd. (Rongsheng) and a Strategic Cooperation Agreement with Hengli Group Co., Ltd.

• Over 1 million Saudi ID cards renewed through Absher

  The Ministry of Interior, represented by its Civil Status Agency, has carried out more than one million national ID card renewals through the Absher platform. This is through using the latest facial recognition technologies since the launch of the electronic service in 2022. Saudi male and female citizens have benefited from the national ID card renewal service by uploading a personal photo electronically through the Absher platform, and it is possible to renew the ID 180 days before its expiry without the need to visit personally the Civil Status offices.

• A new crisis may plunge Libya back into chaos

  In recent months, though, the considerable drama gripping the country has been far more shadowy, shaped by backroom deals, black market transfers and illicit smuggling. But it’s equally important and fraught. A rolling crisis over control of Libya’s central bank has paralyzed the economy and sparked new fears of conflict. Oil exports have dropped precipitously in recent weeks, while ordinary Libyans are facing long lines at gas stations, restrictions on their ability to withdraw cash from banks and a collapsing electricity grid.

• Personal Data Protection Law Transition Period to end on September 14, 2024

  The one-year transition period granted to bring businesses’ activities into compliance with the Personal Data Protection Law of the Kingdom of Saudi Arabia is about to end on September 14, 2024. Given the law’s extraterritorial reach, it is crucial to consider its applicability and the data protection measures implemented.

• Pakistan requests Saudi Arabia to provide $1.2bn oil facility

  The Saudi government wants to invest in the Reko Diq project to procure 15 percent stakes in two phases but the transaction is yet to be accomplished. Pakistan had struck a staff level agreement with the IMF under the $7 billion Extended Fund Facility (EFF) but it is yet to be placed before the Fund’s Executive Board for approval of the loan.

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