MUST-READS

• U.S. Ambassador to KSA test drives Humvee Saber at WDS

  A different flavor from the US Ambassador to Saudi Arabia, Michael Ratney, in the American Humvee Saber at the World Defense Exhibition.

• Saudi Arabia’s Latest Tourism Count – What the Numbers Show

  Growing leisure tourism is a principal focus; diversifying the county from its historic religious tourism sector that benefits from hajj and umrah pilgrims. For now, the leisure tourism sector Saudi is trying to build – whether it be through new hotels, festivals, sports events and giga-projects – has mostly pulled in locals. For Saudi locals, leisure trips have significantly increased. 45% of all domestic trips by locals in the first half of 2023 were for leisure purposes, according to the ministry’s data. In 2022, it was 40% and in 2021 it was 36% of all trips. For international visitors, 20% visited the kingdom for leisure, while visiting friends and relatives made up 23% and religious tourism accounted for 45%. In 2022, 15% of travelers visited for leisure, while in 2021, it was 9%.

• Visualizing the Rise of the U.S. as Top Crude Oil Producer

  Over the last three decades, the United States, Saudi Arabia, and Russia have alternated as the top crude producers, but always by small margins. During the 1990s, Saudi Arabia dominated crude production, taking advantage of its extensive oil reserves. The petroleum sector accounts for roughly 42% of the country’s GDP, 87% of its budget revenues, and 90% of export earnings. However, during the 2000s, Russia surpassed Saudi Arabia in production during some years, following strategic investments in expanding its oil infrastructure. The majority of Russia’s oil goes to OECD Europe (60%), with around 20% going to China.

• Visualizing the Rise of the U.S. as Top Crude Oil Producer

  Over the last three decades, the United States, Saudi Arabia, and Russia have alternated as the top crude producers, but always by small margins. During the 1990s, Saudi Arabia dominated crude production, taking advantage of its extensive oil reserves. The petroleum sector accounts for roughly 42% of the country’s GDP, 87% of its budget revenues, and 90% of export earnings. However, during the 2000s, Russia surpassed Saudi Arabia in production during some years, following strategic investments in expanding its oil infrastructure. The majority of Russia’s oil goes to OECD Europe (60%), with around 20% going to China.

• France proposes Hezbollah withdrawal, border talks for Israel-Lebanon truce

  France has delivered a written proposal to Beirut aimed at ending hostilities with Israel and settling the disputed Lebanon-Israel frontier, according to a document seen by Reuters that calls for fighters including Hezbollah's elite unit to withdraw 10 km (6 miles) from the border. The plan aims to end fighting between the Iran-backed Hezbollah and Israel at the border. The hostilities have run in parallel to the Gaza war and are fueling concern of a ruinous, all-out confrontation.

• Gazans fearing Israeli assault on Rafah look to Cairo truce talks for hope

  U.S., Egyptian, Israeli and Qatari officials were expected to meet in Cairo on Tuesday to seek a truce in Gaza as more than a million civilians crammed into a southern corner of the Palestinian enclave, waiting in fear for an Israeli assault. Amid growing international concern over the plight of civilians, Israeli tanks shelled the eastern sector of Rafah city overnight, residents said, although the anticipated ground offensive did not appear to have started.

• Seen from abroad, Pakistan elections disappoint, add to instability

  Pakistan's election has been remarkable in producing a result disappointing to most of its foreign partners and rivals, with little reason for optimism about the government that will eventually emerge from it, foreign policy analysts said. Pakistan's two largest political parties have been wrangling over who will be prime minister after an inconclusive vote last week forced them to join forces and try to form a coalition in a parliament dominated by independents.

• A big merger between oil rivals is gassing up energy consolidation in the US

  Once oil rivals Diamondback Energy and Endeavor Energy Resources announced Monday (Feb. 12) that they are merging to create a $50 billion oil giant in the Permian Basin. The deal is just the latest in a wave of consolidation in the US energy sector. Diamondback is set to acquire Endeavor in a stock-and-cash deal valued at $26 billion. Diamondback stock rose nearly 8% during morning trading following the news. Its market cap currently sits at $29 billion.

• Why Saudi Arabia is betting on esports

  The scale of Saudi Arabia’s spending may seem like largesse. But there is a strategic logic to it. Estimates suggest that while the global esports market may currently be worth around 1.5B USD, that figure could rise to 7B USD by 2030. Yet Saudi Arabia’s ventures are not simply borne of a quest for financial gain or whimsical hankering for childhood. Indeed, esports have become a powerful policy tool being deployed by the Kingdom to help implement the profound transformational changes it is undertaking.

• Saudi Pro League scoops multi-brand PepsiCo sponsorship

  “We are delighted to welcome PepsiCo into the RSL family as a gold partner,” said Carlo Nohra, chief operating officer of the Saudi Pro League. “This partnership aligns with our mission to offer fans innovative and engaging experiences. PepsiCo’s commitment to football and its global reputation for quality will undoubtedly enhance our league’s appeal and the overall fan experience.”

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