MUST-READS

• Saudi Arabia’s Upcoming National Space Strategy a Blueprint for Growth

  The Saudi space sector generated USD400 million in 2022. That figure is expected to reach USD2.2 billion by 2030. Saudi Arabia’s Vision 2030 strategy, a national blueprint for diversifying and growing the country’s economy, highlights the space sector’s role in growing the economy. The Saudi Space Agency says there is a strong emphasis in the country on space research and innovation for peaceful purposes. There is also an eye on the commercial opportunities, including space tourism.

• Saudi Venture Capital appoints Nora Alsarhan as deputy CEO
  Riyadh’s state-owned Saudi Venture Capital (SVC), which manages assets worth $2.2 billion, has appointed Nora M Alsarhan, its chief investment officer, as deputy CEO.
  Alsarhan oversees SVC's investments, including funds and direct bets, in line with its objective of supporting growth and innovation in early-stage startups, especially in strategic sectors. Alsarhan, who joined SVC as investment director in June 2019 also sits on the limited partner advisory committees (LPACs) of many SVC portfolio funds.  She was elevated as SVC’s CIO in June 2020.

• Sullivan to meet MBS to push Saudi side of Israel mega-deal

  With the war in Gaza ongoing and the U.S. presidential election just seven months away, White House officials admit there's a slim chance they can pull off the historic peace agreement. Sullivan's trip shows President Biden is still determined to pursue it.

• Gaza war helps Iran repair image in region—but for how long?

  Israel’s assault on Gaza has in some ways proven to be a boon for Iran, furthering some of its strategic objectives and boosting its reputation in the region. In Nov. 2023, a report by the Washington Institute for Near Eastern Policy found that an average of 40% of respondents in Egypt, Iraq, Jordan, Lebanon, Palestine, and Syria said Iran’s actions have had a positive impact on the war. In Egypt and Syria, such sentiments were expressed by half of respondents.

• ‘Israeli’ attack on Damascus consulate sparks calls for action in Iran

  At least seven members of the Islamic Revolutionary Guard Corps (IRGC)—including two commanders—have been killed in a suspected Israeli attack in Syria. Apart from the seniority of the targets, the incident is a major escalation as Iran’s diplomatic premises in Damascus were targeted. Notably, the bombing follows the killing of another IRGC officer in Syria in recent days, marking an uptick in suspected Israeli airstrikes in recent months.

• Kuwaiti Rap Duo Highlights Rising Popularity in the Gulf

  At a time when Kuwaiti youth are navigating rapid shifts toward globalized economic and social influences, rap duo Kay R and Chunkky Monkky have gained fame as rappers using Kuwaiti lyrics. Kay R’s Arabic roots fused with hip-hop beats laid the groundwork for a pioneering sound that redefined Kuwait’s hip-hop music by expressing the daily experiences of Kuwaiti youth. Kay R has expanded his audience through his Instagram account, which boasts almost 20,000 followers and has helped him connect with fans across different cultures.

• Saudi foundation launches initiatives to combat food waste

  A raft of initiatives aimed at minimizing food waste has been launched in Saudi Arabia. The Grace Preservation Foundation’s strategic programs were unveiled at a ceremony to coincide with recent International Day of Zero Waste celebrations in Riyadh. The launch event was attended by Saudi Minister of Municipal, Rural Affairs, and Housing Majed Al-Hogail, along with senior officials and board members.

• Saudi Launches USD83.2 Million Financial Initiative To Bolster Research Laboratories

  The Research Development and Innovation Authority (RDIA) has introduced its inaugural financial initiative totaling $83.2 million, dedicated to bolstering research laboratories throughout Saudi Arabia. This initiative aims to enhance research facilities and laboratories across the Kingdom, aligning with the national research priorities outlined by Crown Prince and Prime Minister Mohammed bin Salman, who also serves as the chairman of the Supreme Committee for Research, Development, and Innovation.

• Ethiopia to repatriate 70,000 nationals from Saudi Arabia

  Ethiopia will repatriate some 70,000 of its nationals living in Saudi Arabia starting early April. State Minister Birtukan Ayano said the repatriation, the third such programme since 2018, will target “Ethiopians who are in a difficult situation”. During the announcement last week the minister didn't specify whether the returnees have been living in Saudi Arabia legally.

• Historic decline in unemployment rate among Saudi women reaching 13.7% in 4Q 2023

  There has been a historic decline in the unemployment rate among Saudi women reaching 13.7 percent during the fourth quarter of 2023. The rate fell 2.6 percent from 16.3 percent during the third quarter of the year while the unemployment rate among Saudi men remained stable at 4.6 percent in the fourth quarter of last year, which was the same level as in the third quarter.

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