MUST-READS

• Saudi Arabia may ‘scale back some Vision 2030 projects and speed up others’

  Saudi Arabia’s Finance Minister Mohammed Al Jadaan on Sunday said the kingdom would adapt to current economic and geopolitical challenges and “downscale” or “accelerate” some of the projects being carried out under its Vision 2030 programme.

  Asked whether Saudi Arabia had to "mark-to-market" its expectations regarding the goals of the 14-year long programme, Mr Al Jadaan said: “Absolutely, yes.”

• Saudi Arabia’s NEOM secures $2.7 billion new financing facility
  NEOM, a unit of the kingdom’s sovereign wealth fund, secured a new revolving credit facility (RCF) worth 10 billion riyals ($2.67 billion) from local lenders, according to a NEOM statement seen by Reuters on Sunday.
  Saudi National Bank, Riyad Bank, and Saudi Awwal Bank acted as the lead arrangers on the new facility while other participant banks are Al Rajhi Bank, Alinma Bank, Arab National Bank, Bank Albilad, The Saudi Investment Bank, and Bank AlJazira, the press release shows.

• Saudi FM leads Gaza committee urging sanctions on Israel

  Ministers gathering in Riyadh to discuss the Israeli war on the Gaza Strip stressed the urgent need for imposing sanctions on Israel, the Saudi Press Agency reported Sunday. Chaired by Saudi Foreign Minister Faisal bin Farhan, the meeting comprising dignitaries from a group formed jointly by the Organization of Islamic Cooperation (OIC) and Arab League convened to address developments in Gaza.

• Saudi government mandates national dress for civil servants to showcase national identity
  Saudi Arabia has introduced a new regulation mandating the national dress for government employees as a sign of pride in the country’s identity.
  According to the directive, employees of Saudi government agencies must wear the traditional “thobe, ghutra or shemagh” while at work.

  Exceptions are made for professions requiring specific attire, such as doctors, engineers and health practitioners.

  The regulation applies across all government agencies, with authorities set to provide regular reports on compliance.

• Graham expects Biden will have GOP support if he strikes Israel-Saudi deal

  “I’m here on national television telling the Biden administration, if you can land this deal I think you’ll have a lot of Republican support in the United States Senate for a treaty between Saudi Arabia and the United States, because [it will] be good for Israel, it will be good for the world,” the South Carolina Republican said Sunday during an interview on CNN’s “State of the Union.”

• Host Saudi tells global economic summit the world has failed Gaza

  Speaking in Riyadh, Palestinian president Mahmud Abbas said the United States "is the only country capable" of preventing Israel's long-feared invasion of Rafah city in southern Gaza. "We appeal to the United States of America to ask Israel to stop the Rafah operation," he said, warning it would harm and displace civilians, and be "the biggest disaster in the history of the Palestinian people". Read more: https://www.al-monitor.com/originals/2024/04/host-saudi-tells-global-economic-summit-world-has-failed-gaza#ixzz8Yn0qFW4X

• What are the Saudi Festival Seasons?

  The Saudi Seasons, a series of festivals held at different locations in the Kingdom throughout the year, attracts visitors from all over the world to explore this dynamic country and experience the best of both Saudi and international arts, culture, sports and entertainment.

• Saudi Tadawul shareholders approve 23% dividend for 2023

  Saudi Tadawul Group’s shareholders approved the payment of a cash dividend at 23% of capital, or SAR 2.30 a share, for 2023, during the ordinary general meeting (OGM) held on April 25, according to a statement to Tadawul.

• Long-term plans of Saudi Vision 2030 support economic flexibility: Al-Jadaan

  “Saudi Vision 2030’s objectives are on track at 87%”, the Saudi minister assured, indicating that there is still a bundle of challenges that requires modifying some projects, accelerating a number of them, and reducing the size of other projects.

• Saudi Finance Minister Warns Geopolitics Is Top Economy Risk

  Jadaan also called on leaders to “do everything we can” to de-escalate, echoing comments more broadly made by Saudi government officials around Israel’s war against Hamas and tensions between Iran and Israel. The situation in the Middle East contributed to oil prices climbing above $90 a barrel earlier this month, keeping the pressure on inflation. Gold, a safe haven asset, also hit a record high in April.

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