MUST-READS

• Saudi weather authorities warn of thunderstorms, heavy rains across Kingdom

  Temperatures plummeted to a low of 17 degrees Celsius, while the maximum temperature was pegged at 27 degrees. Thursday night also saw cold winds blowing at high speeds, heralding the onset of winter in Riyadh. Following the heavy rains forecast, the Civil Defense also issued a warning for potential flooding in multiple regions of Saudi Arabia.

• Saudi Arabia making ‘significant strides’ in health tourism, expert says

  “The integration of digital health solutions, such as telemedicine and e-health services, further supports sustainability goals. These innovations reduce the need for travel, lowering carbon emissions and making healthcare more accessible,” he said. Saudi Arabia’s healthcare infrastructure also plays a pivotal role, he said. "The Kingdom’s commitment to achieving international accreditation for its healthcare facilities ensures that they meet rigorous quality standards,” Baslom said.

• Safeya Binzagr, a Saudi Artist Celebrated but Long Unseen, Dies at 84

  The Saudi Arabian artist Safeya Binzagr’s groundbreaking moment came in 1968, when she had her debut exhibit, at a girls’ school in the coastal city of Jeddah. It was the first time a woman had shown her art publicly in the country, and the distinguished group of attendees included Saudi royals, diplomats and intellectuals. Despite the restrictions of Saudi society, though, Ms. Binzagr celebrated her heritage — advancing women’s role in Saudi Arabian art, starting classes and opening one of the first art museums in the country.

• BlackRock studies how to develop Saudi mortgage market

  Bartholomew Nash, Director of Corporate Communications at BlackRock, said the asset management firm is studying mechanisms to develop the mortgage-backed securities market in Saudi Arabia, Al Eqtisadiyah newspaper reported. He added that the company is currently working on this mechanism to develop the Saudi market under the terms of the agreement signed with Saudi Real Estate Co. (SRC) on Aug. 24. In August, SRC signed an agreement with BlackRock to develop the mortgage sector in the Kingdom and boost international and local investor base, as well as achieve stability in the housing market and diversify financing options, according to data available with Argaam.

• Saudi Arabia to expand studies of ancient mustatil stone structures

  Saudi Arabia’s Heritage Commission will expand research and excavation efforts at new mustatil sites in the Kingdom, scientists said at a recent meeting of the body. The commission held an open virtual meeting to discuss the recent findings on mustatils — some of the world’s oldest human-made stone structures — in the Hail region. During the meeting, scientists stressed the importance of expanding the scope of their studies, and presented some of their preliminary findings. They plan to focus on the environmental dimensions of mustatils, linking them to climate changes that affected the region during that period.

• Roberto Mancini out as coach of Saudi Arabia’s national team

  Roberto Mancini has left his role as head coach of Saudi Arabia’s national team, the country’s soccer federation said Thursday. Mancini, who won the European Championship as Italy coach in 2021, left by mutual consent, it said. The former Inter Milan and Manchester City manager won multiple titles in a storied career as both player and coach. But he failed to lead Saudi Arabia to victory at the Asian Cup this year — exiting the tournament in the round of 16.

• The U.S. Election and the Saudi Economy

  Given its central role in the global economy, what happens in the United States is of great importance to the rest of the world. Saudi Arabia is no exception given its close ties to the United States, central role in the global oil market, and long-standing exchange rate peg (along with the other Gulf Cooperation Council countries except Kuwait) to the U.S. dollar, which allows it to benefit from the credibility of U.S. monetary policy. Economic studies have highlighted that the health of the U.S. economy is an important determinant of Saudi economic growth.

• Saudi’s huge influx of megaproject workers prompts creation of new housing company

  The PIF said it was establishing the Smart Accommodation for Residential Complexes Company (SARCC), a property developer and operator of housing for staff on major construction and development projects across the Kingdom. PIF said it would support infrastructure and services linked to construction and real estate projects across Saudi Arabia, including: Roshn Group, a real estate developer in charge of delivering 400,000 homes across Saudi Arabia by 2030; Saudi Downtown Company, which is in charge of 12 mixed-use projects across 11 regions of the Kingdom; and New Murabba Development Company, which is building The Mukaab, a huge 400m tall and 400m wide cube city as a centrepiece of a new downtown in Riyadh.

• New Saudi methodology doubles 2023 FDI inflow

  The new figure, published in a Ministry of Investment report, uses a methodology that the Ministry first published in November 2023. That new system quadrupled the 2022 figure to $33 billion from $8 billion. It was not clear why the statistics authority had not been using this methodology, which the investment ministry says looks in detail at individual financial statements based on International Monetary Fund recommendations.  This week the Statistics Authority issued an FDI report for 2023 that now aligns its figures with those of the Ministry of Investment.

• Saudi and Iran hold joint naval drills in Sea of Oman and plan Red Sea exercises

  Yesterday the official Iranian news agency ISNA reported that the former foes are planning further joint military drills in the Red Sea quoting Iran’s Navy Commander Admiral Shahram Irani as saying: “Saudi Arabia has requested that we have a combined exercise in the Red Sea.” However, Al-Malki has clarified that no other exercises are currently under consideration.

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