MUST-READS

• Saudi sets rules for financial settlement with persons involved in corruption crimes

  Saudi Arabia published six rules for reaching financial settlements with natural or legal persons that have committed corruption crimes, according to the Official Gazette. Under the first rule, the Oversight and Anti-Corruption Authority (Nazaha) is responsible for concluding settlement agreements with individuals or entities that voluntarily submit a request, provided that the corruption crime was committed before Nov. 4, 2017, and had not been previously discovered. The settlement agreement must be made according to certain criteria. The individual or entity shall abide by returning or collecting the funds involved in the crime—or the equivalent value—along with any generated proceeds, if any.

• Saudi Arabia announces major healthcare expansions, new cancer center, pharmacy chain

  Major medical initiatives to bolster Saudi Arabia’s healthcare sector have been unveiled this week, including a state-of-the-art oncology center and a huge pharmacy chain expansion. These initiatives represent growing private sector involvement in the Kingdom. Johns Hopkins Aramco Healthcare (JHAH), established in 2014 as a joint collaboration between Saudi Aramco and Johns Hopkins Medicine, is launching an Oncology Center of Excellence in Saudi Arabia. Through this collaboration, JHAH has launched more than 50 knowledge-sharing programs enhancing critical specialities, including oncology, cardiology, neurology, and musculoskeletal health. In parallel developments, Aster Pharmacy announced plans to significantly expand its presence in Saudi Arabia through a joint venture with Al Hokair Holding Group.

• How Saudi Arabia is preserving its precious freshwater resources

  Water scarcity is a pressing issue in Saudi Arabia, significantly impacting the country’s socio-economic development as well as its environmental sustainability. As one of the hottest and driest regions in the world, the Kingdom faces many challenges owing to its limited natural freshwater sources and high rates of evaporation. These harsh realities have forced the country to rely on limited groundwater and desalination plants, where 75 percent of the country’s water supply comes from. Ecolab operates in 40 different industries across 172 countries, managing water supplies, combating potential pollutants and infections, and focusing on human and natural resource protection. The company has been operating in Saudi Arabia for 47 years, collaborating with local firms such as Saudi Aramco, SABIC, and Almarai. “This country has a lot of natural resources and a lot of ambition. But one thing is missing — water. There are no lakes, no rivers, but there is a lot of sea around us. However, this is not freshwater. That’s a big challenge,” said Beck.

• Secretary Rubio’s Call with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud
  Secretary of State Marco Rubio spoke today with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud.  The Secretary and Foreign Minister discussed the path forward in Gaza and ways to advance shared interests in Syria, Lebanon, and across the region, to include Red Sea security and freedom of navigation.  The Secretary thanked the Foreign Minister for Saudi partnership in helping to chart a new course for Lebanon and humanitarian assistance to Syria and Sudan.  The Secretary said he looked forward to strengthening the U.S.-Saudi partnership.

• Only 45 Percent of Americans Know What a Tariff Is

  A survey conducted by market research specialist Ipsos in December 2024 shows that more than half of all polled U.S. adults don't know what a tariff is. Only 45 percent chose the correct answer, which is a form of tax imposed on imports from other countries paid by the importing companies and is at least in part passed on to the consumer. A narrative popularized by President Trump that suggests that the exporting country pays a tax to the importing country was the second most popular option, chosen by 17 percent of respondents.

• Beyond “Maximum Pressure” in US Policy on Iran: Leveraging Regional Partners to Contain Iran’s Actions and Shape its Future Choices

  In his second term in office, President Donald Trump faces a Middle East undergoing multifaceted upheaval and an Islamic Republic of Iran currently in its weakest and most isolated position since the founding of the regime in 1979. Yet far from permanently subdued, Tehran continues to move closer to building a nuclear weapon, and it is trying to preserve its regional network of proxies and non-state allies. Trump now faces an important strategic choice on Iran policy. Will he return to an updated version of “maximum pressure” and act as an unpredictable disruptor, or will he prioritize his penchant for deal-making and seek a quick pathway to a new nuclear deal with Iran?

• Combine yachting and Formula 1 at the Saudi Arabian GP

  From 18 to 20 April, the Saudi Arabian Grand Prix will take place at the renowned Jeddah Corniche Circuit, offering a spectacular coastal venue where yachting and Formula 1 can combine. With capacity for yachts up to 120 metres, Jeddah Yacht Club and Marina still has berths available and is offering a 30% discount on rates over the event. Attending yachts will enjoy unparalleled convenience and the ability to soak up the electric atmosphere from the dock. “The marina is next door to the racetrack, so guests can be at the VIP lounges within minutes,” says Niel Gow, Agency Operations Manager at Hill Robinson. “It really is the best way to attend the event.”

• What does Neymar’s departure mean for the Saudi league?

  The Brazilian attacker was among the global stars who transferred to Saudi clubs in 2023 when Cristiano Ronaldo joined Al-Nassr and Karim Benzema left Real Madrid for Al-Ittihad. But unlike the latter two, Neymar was injured too often to make much of an impact in the desert kingdom after his 90 million euros ($94 million) transfer from Paris Saint-Germain. He played just seven games before Al-Hilal released him this week by mutual consent. Analysts say his exit is not likely to have a big impact on the Saudi league’s international standing as long as other big names remain. “Neymar’s departure does not damage the brand. If the other stars start leaving then it is different, but that does not look like it’s happening,” said Sasi Kumar, a former Singapore international and founder of Spain-based sports investment company 28 Ventures. “He went there, got injured and the timing was unfortunate. I am sure Hilal and other clubs will go and make more signings, as the ambitions are still there.”

• Saudi Arabia’s Q4 GDP expands at fastest quarterly pace since 2022

  Saudi Arabia’s economy grew at the fastest pace since 2022 during the fourth quarter of last year, buoyed by expansion of both the oil and non-oil sectors as the kingdom continues to pursue its economic diversification agenda. The country’s gross domestic product grew by 4.4 per cent on an annual basis during the three-month period to the end of December “supported by the growth of key economic activities”, the kingdom’s General Authority for Statistics said on Thursday. This rise is markedly higher than the 2.8 per cent year-on year GDP growth recorded in the third quarter of 2024, and is the sharpest rate of expansion in the past two years, according to Gastat data.

• Saudi defense giant SAMI appoints new CEO

  Saudi Arabia’s government-owned defense giant has appointed Thamer AlMuhid as its new Chief Executive Officer, five months after previous CEO Walid Abukhaled stepped down, the company’s board of directors announced today. “In his role as CEO, Eng. AlMuhid will lead SAMI’s mission to develop cutting-edge technologies, manufacture world-class products, and forge strategic partnerships,” according to a statement from Saudi Arabian Military Industries. The company said AlMuhid served earlier in several executive positions from CEO of Saudi Chemical Company to the vice chairman of the board of directors of the National Academy of Military Industries. AlMuhid will be the third SAMI CEO since the organization’s founding in 2017, after German national and former Rheinmetall executive Andreas Schwer, and Saudi national and former Northrop Grumman executive Walid Abukhaled.

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