MUST-READS

• Saudi puts $15bn into AI as experts debate next steps

  Saudi Arabia is placing big bets on IT, datacentre capability and AI in particular, with the latter a massive focus of the show and an agenda packed out with discussions around applications of AI and its next steps, particularly agentic AI. Projects announced in AI included a $1.5bn agreement between AI infrastructure provider Groq and Aramco Digital – a subsidiary of long-established state oil company Aramco – to expand AI-powered inference infrastructure and cloud computing. Also, Saudi state-owned manufacturing conglomerate ALAT and Lenovo committed $2bn to establish an advanced manufacturing – including semiconductors – and technology centre that integrates AI and robotics.

• Saudia and Saudi Research and Media Group Announce a Strategic Partnership

  Saudia, the Kingdom of Saudi Arabia's national flag carrier, has announced a strategic partnership with Saudi Research and Media Group (SRMG), the largest integrated media group in the Middle East and North Africa. This collaboration aims to offer a selection of the group's curated and premium content, including original productions, exclusive documentaries, and cultural and entertainment programs tailored for guests worldwide, to Saudia's BEYOND in-flight entertainment system.

• Esports Olympics to debut in Saudi Arabia later than expected in 2027

  The first Olympic Esports Games will be hosted in Riyadh in 2027, two years later than expected when a 12-year deal with Saudi Arabia was signed last year. The International Olympic Committee said Tuesday its founding partner for the event will be the kingdom’s Esports World Cup Foundation. The first annual Esports World Cup was held last July and August in Riyadh with tens of millions of dollars in prize money paid for games including Call of Duty, Fortnite and Street Fighter. It is unclear which, if any, shooter games the IOC will allow on the Esports Olympics program, which it has repeatedly said must align with Olympic values.

• AlUla Conference for Emerging Market Economies

  The AlUla Conference for Emerging Market Economies is an annual economic policy conference, held in AlUla, Saudi Arabia, organized by the Ministry of Finance of Saudi Arabia and the IMF Regional Office in Riyadh. The conference will convene a select group of emerging markets’ ministers of finance, central bank governors, and policymakers, as well as public and private sector leaders, international institutions, and academia. It will offer a unique platform to exchange views on domestic, regional, and global economic developments and discuss policies and reforms to spur inclusive prosperity and build resilience supported by strong international cooperation.

• Promoting Resilience: Shaping the Future of the GCC Economy Amid Regional and Global Challenges

  The GCC has been a bright spot in the world economy. Member countries have enjoyed sustained growth, contained inflation, and built strong buffers. This success did not happen in a vacuum. GCC countries have been doubling down on difficult but necessary reforms. Diversifying government revenues. Improving the business climate. Increasing access to finance. Making labor markets more flexible and raising women’s participation. These reforms have accelerated economic transformation and diversification. They have unlocked growth in new sectors such as tourism, logistics, finance, and renewable energy.

• Over 680 exceptional talents and researchers in technology sector obtain Saudi Premium Residency

  The list of holders of Premium Residency under the “Exceptional Competence Residency” product is topped by 5G technology specialists with 16 percent, followed by cloud computing specialists with 15 percent. These fields are the cornerstone of enhancing digital infrastructure, which enhances the Kingdom’s position as a leading country in adopting modern technologies. In the context of supporting innovation, Premium Residency was granted to experts in artificial intelligence and machine learning, who constituted 12 percent of the talents who were granted Premium Residency. These fields are among the priorities in the Kingdom, due to their role in contributing to the development of many sectors such as healthcare, education, and digital industries. Big data experts constitute 13 percent of the number of Premium Residency recipients, and it is one of the specializations that is witnessing rapid global growth in advanced economies that rely on the analysis of large and complex data.

• Saudi Arabia moves to ban sale of tobacco in kiosks and grocery stores

  The Saudi Ministry of Municipalities and Housing has proposed a ban on the sale of tobacco products in kiosks, grocery stores and central markets. This is among the draft proposals, published by the ministry, on the public survey platform Istitlaa, seeking the opinions and viewpoints of the public before putting the draft into a final shape. The draft rules include several regulations with regard to the sale of tobacco products. According to this, the sale of tobacco products must comply with the standard specifications issued by the Saudi Food and Drug Authority (SFDA). Tobacco products must be 100 percent invisible to visitors at the commercial facility and must be placed inside closed drawers.

• Saudi FM discusses developments in Palestine with PM Mohammad Mustafa

  Saudi Foreign Minister Prince Faisal bin Farhan on Monday received a phone call from Palestinian Prime Minister Mohammad Mustafa. During the call, the two officials discussed developments in Palestine and efforts made in regard to them, Saudi Press Agency reported. Prince Faisal also received a phone call from his Pakistani counterpart Ishaq Dar. They discussed regional developments and joint efforts with regard to them, SPA said.  Later on Monday, Prince Faisal received another phone call from his Iranian counterpart Abbas Araghchi. The officials discussed the latest regional developments.

• Records set for Arab artists at Sotheby’s debut Saudi Arabia auction

  Sotheby’s inaugural auction in Saudi Arabia — and the country’s first major international art and luxury auction — took place in Diriyah on Saturday with works by regional artists selling particularly well. Sotheby’s reported a full house for the “Origins” sale, which was held in a 250-seat outdoor amphitheater and featured participants from 45 countries. The sale totaled $17.28m with a sell-through rate of 67% by lot and 74% by value. Almost a third of the buyers were from Saudi Arabia.

• PIF’s Private Sector Forum returns to Riyadh

  The third edition of PIF’s Private Sector Forum takes place on February 12-13 in Riyadh, building on the success of previous years, with its focus on cooperation and fostering partnerships between PIF, its portfolio companies and the private sector to drive economic growth in Saudi Arabia and beyond. This year’s forum introduces four key tracks, as part of its program aimed at empowering the private sector. “There will be places and times throughout the two days where everyone interested in an opportunity will come together and there will be a series of discussions,” explained Jerry Todd, Head of National Development Division at PIF, during a Reuters Plus podcast interview. “Some of these will be led by PIF, some of these will be led by portfolio companies, and some of these will be led by industry experts.”

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