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KSA and it’s summer power surge challenge
In terms of oil consumption used for its electricity sector Saudi Arabia matches the entire oil consumption of Italy, Spain or Turkey. The kingdom’s oil for power use spikes over 1 million barrels per day in summer to generate power and water.
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Saudi Arabia Updates Investment Law
Building on previously announced reforms under Vision 2030 and the National Investment Strategy, the Cabinet has approved an updated investment law for Saudi Arabia. The updated law brings together several existing freedoms and rights and expressly applies them to investors under one unified framework, providing investors with greater transparency, flexibility and confidence.
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Prince Mohammed bin Salman Royal Reserve
Covering 24,500 KM2, the Prince Mohammed Bin Salman Royal Reserve is located south of Neom in northwestern Saudi Arabia. It covers 1% of Saudi Arabia’s terrestrial area and 1.8% of its marine area, it is home to over 50% of the Kingdom’s marine and terrestrial species.
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Saudi Arabia announces Labor Law amendments to improve work environment
The Ministry of Human Resources and Social Development said the new amendments encompass 38 articles, deleting seven articles, and adding two new articles to the Labor Law. The new amendments will be effective after 180 days from the date of their publication in the official Gazette.
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Chinese Language Instruction in KSA
During Saudi Crown Prince Mohammed bin Salman’s State Visit to China in February 2019 Saudi Arabia and China agreed to include the Chinese language as a curriculum at all stages of education in schools and universities across the Kingdom.
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Saudi Solar Power capacity picking up speed
GlobalData predicts that, at its current pace, Saudi Arabia’s renewable power capacity could increase at a compound annual growth rate (CAGR) of 40.1% between 2023 and 2030, to reach 31.5 GW by 2030 and 63.1 GW by 2035.
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The 966, Episode #134 – Saudi Arabia’s Booming Construction Sector with Laura Morgan, Market Intelligence Lead, MEA, JLL
Laura Morgan, Market Intelligence Lead, MEA, JLL joins The 966. Episode #134 to discuss Saudi Arabia’s Booming Construction Sector.
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FIFA World Cup 2034 to feature 11 new stadiums (out of 15)
The Fédération Internationale de Football Association (FIFA) has unveiled details of Saudi Arabia’s bid to host the largest-ever edition of the FIFA World Cup held in a single country. The official bid, under the slogan “Growing. Together”, outlines Saudi Arabia’s extensive plans and infrastructure projects.
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Saudi AI startup Intelmatix closes $20m funding round
Founded in 2021 by a group of MIT graduates led by Anas Alfaris, Almaha Almalki and Ahmad Alabdulkareem, Intelmatix provides both public and private sectors with accessible AI and advanced analytics that delivers technologies to improve operations, productivity, growth, and sustainability.
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IMG expands partnership with Saudi Pro League and Saudi Arabian Football Federation
The Saudi Pro League (SPL) and Saudi Arabian Football Federation (SAFF) have announced a new five-year production partnership with IMG, a global sports, events, and representation company, for the Roshn Saudi League (RSL), King’s Cup, and Saudi Super Cup, starting from the 2024-25 season.
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MUST-READS
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Could homegrown fashion be Saudi Arabia’s next economic driver?
As a result, fashion sales in Saudi Arabia are projected to soar by 48 percent from 2021 to 2025, reflecting a robust annual growth rate of 13 percent. This growth is fuelled by diverse factors including a rising interest in sportswear due to increased health consciousness and robust marketing efforts by global brands like Adidas and Nike.
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Can Saudi Arabia’s solar manufacturing initiative be a game changer?
Saudi Arabia is actively developing its solar power capacity through various projects. In July, the Kingdom’s Public Investment Fund (PIF) announced partnerships with China’s JinkoSolar and TCL Zhonghuan, leading producers of solar modules and silicon wafers, along with wind turbine manufacturer Envision Energy. These collaborations will introduce 30GW of solar PV manufacturing capacity – from ingots to modules – to Saudi Arabia, supporting the goal of localizing 75 percent of renewable energy components by 2030, as outlined in the National Renewable Energy Program.
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On the Second Anniversary of Mahsa Amini’s Death, Where Do Women Stand in Iran?
Large numbers of women are appearing in public without headscarves and a newly inaugurated government includes a woman cabinet minister, a female vice president in charge of the environment and a woman spokesperson. Despite these efforts, the number of women in the government of President Masoud Pezeshkian is fewer than during the two terms of President Mahmoud Ahmadinejad (2005-2013) and only slightly higher than during the tenure of Hassan Rouhani (2013-2021). There remains skepticism about the depth of these gestures, as Iranian women continue to face substantial structural barriers and cultural attitudes that hinder progress toward gender equality.
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Commentary: Workplace child care in Gulf countries would help employed mums. What gets in the way?
As a result, it is much more efficient to have – hypothetically – two childcare facilities serving 30 children each than it is to have 10 childcare facilities serving six children each. Certainly, in the case of an office tower with thousands of employees, having a shared, building-level childcare facility is economically sound. However, for smaller workplaces such as a bank branch, a clothing store or a coffee shop – where many Gulf women work – mandating an establishment-level childcare facility is both costly and highly inefficient.
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Sources of Saudi Tourism: Who’s Traveling, Who’s Spending?
Saudis are exploring their own country in bigger numbers and foreigners are bringing the cash. That’s the takeaway from a report by the International Monetary Fund (IMF) on the state of the Saudi economy. “The surge of visitors has been mostly domestic-driven while the surge in visitors’ spending was mostly inbound-driven (i.e., international arrivals),” said the IMF report. Saudi reported 109 million visitors in 2023, beating its initial target of 100 million visitors by 2030 – a goal it has since lifted to 150 million.
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Will a Turkey-Iraq Security Agreement Diminish Iran’s Hold Over Iraq?
The MoU, which followed a historic visit to Iraq in April by Turkish President Recep Tayyip Erdogan, is a significant maneuver intended to solidify Turkey’s influence in Iraq. By labeling the Kurdish Kurdistan Workers Party or PKK a “banned organization,” Turkey seeks to legitimize its cross-border operations and strengthen its foothold in Iraqi politics and security.
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Gaza Impact Creep: Is the Fight Against ISIL a Casualty?
Without such kinetic pressure, he is convinced ISIL would succeed in reconstituting itself in northeastern Syria from its safe haven in the Badiya desert, nominally under Syrian regime control – but largely ungoverned space below the large northern quarter of Syrian territory that Abdi’s forces control. ISIL continues to have funding streams in the northeast, including kidnapping for ransom and extortion, as well as regional inflows, and to find localized safe haven in communities with residual sympathy for the group.
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Will Jordan’s new electoral law bring real change?
But this time around, to strengthen the country’s political parties and engage voters more effectively, the government has reserved forty-one out of the 138 seats for candidates running on party lists. Yet, the resulting changes are likely only cosmetic since Jordanian parties are not winning voters’ confidence for various reasons, including on the pivotal issue of unemployment.
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Time to retire ‘Arab-Israeli conflict’?
The experience of the past 11 months has led many experts on the region like myself to reassess that term. Is “Arab-Israeli conflict” an accurate reflection, given that the active participants are no longer just Arabs and Israelis? Should we retire that term for good now that the conflict has widened, drawing in the United States and Iran–and potentially Turkey and others in the coming years?
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Perspective: Will Saudi Arabia’s big bet on the Qiddiya gaming and esports city pay off?
Milanov is now head of gaming at Qiddiya, a dreamy “Giga Project” under way near Riyadh in Saudi Arabia. The Saudis want 17 million visitors a year to go to Qiddiya by 2030, making it the “largest tourism destination worldwide.” Not so different from Team Liquid’s heaquarters, the aim of Qiddiya is to build a whole city where gamers, esports athletes and their fans can feel at home, and Milanov is moving into high gear soon to sell people on the idea of Qiddiya. Will giant sandworms get him, or will it all pay off?
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