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IMF Launches New Regional Office in Saudi Arabia
The goal of the new office is to strengthen the IMF’s collaboration with governments and institutions in the Middle East including promoting economic stability, growth, and regional integration. It also underscores the growing economic importance of the region.
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Global Defense Spending Spikes in 2023
According to a study by Forecast International in 2023 global defense spending grew at its fastest pace in the last decade as governments respond to security crises unfolding around the world.
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Prospects for Saudi Arabia hitting 2030 Renewable Energy Targets
In 2016 Saudi Arabia’s Vision 2030 had an initial target of deploying 9.5GW of green energy by 2030. The latest revision made in 2023 targets 130GW of renewable power capacity by 2030. GlobalData, a leading data and analytics company, says the Kingdom can come close to that target.
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Saudi Arabia Fares Well in 2024 Kearney FDI Confidence Index
Ongoing economic and business-related reforms helped the United Arab Emirates and Saudi Arabia post the biggest jumps in Kearney’s 2024 Foreign Direct Investment Confidence Index. The countries climbed ten spots from 2023, to eighth for the UAE and 14th for Saudi Arabia.
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U.S. Ambassador Michael Ratney joins The 966 for a truly informative Episode #127
U.S. Ambassador Michael Ratney shares his insights with The 966 in a wide-ranging conversation with Richard Wilson. Just over one year in his position, Amb. Ratney offers his perspective on change in Saudi Arabia and an evolving U.S.-Saudi relationship.
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Biden’s Oil Boom
Reuters reports that during the Biden administration not only has oil production hit record highs but energy company profits, dividends, drilling permits, jobs and energy exports are all up.
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Saudi Arabia to join Miss Universe for the first time
27-year-old model, influencer, and beauty pageant veteran Rumy AlQahtani announced on Instagram that she will be representing Saudi Arabia in 72nd Miss Universe contest in Mexico later this year.
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Hyundai and Red Sea Global Agree to Test EVs and Air Mobility Systems
Hyundai Motor Group said on Monday it has agreed with Saudi Arabia’s state-sponsored developer Red Sea Global (RSG) to cooperate in the Middle Eastern country’s push for electrification and other eco-friendly future mobility projects.
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FIFA Series 2024 Friendly Matches Kick Off in Jeddah
The FIFA Series: Saudi Arabia A will be held in Jeddah, Saudi Arabia from March 21–26, 2024. The event will feature two groups, including Cambodia, Equatorial Guinea, Guyana, and Cape Verde. The series is designed to help national teams that do not often play teams from other confederations, and FIFA will cover the teams’ travel costs. There will be […]
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U. S. Secretary of State Antony Blinken to Visit Middle East this week Seeking Ceasefire Agreement
U.S. State Department spokesman Matthew Miller said, “The Secretary will discuss efforts to reach an immediate ceasefire agreement that secures the release of all remaining hostages, intensified international efforts to increase humanitarian assistance to Gaza, and coordination on post-conflict planning for Gaza, including ensuring Hamas can no longer govern or repeat the attacks of October 7.”
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MUST-READS
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Russian-Iranian military cooperation: How much can they depend on each other?
Despite their differences, Russian-Iranian military cooperation will likely continue—and increase. But with both now on the back foot, the question is just how useful their cooperation is. Moscow is urging Iranian restraint in responding to Israel over the death of Haniyeh in Tehran not because of any inherent peace-loving nature, but because the Kremlin understands that, with its forces tied down in Ukraine, it is not in a position to do much to protect Iran in a wider conflict with Israel—especially if the Jewish state receives US military support.
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How prepared is Saudi Arabia to handle mpox?
An international outbreak of a milder variant of mpox occurred between July 2022 and May 2023. The first cluster of cases was reported in the UK, followed soon after by more in other parts of the world, including Europe and North America. It was the first time that a transmission chain had been reported outside of Africa without any known epidemiological links to West or Central Africa. In all, 87,000 cases were reported in 111 countries, and 140 people died.
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Gaza Reduced to 42 Million Tonnes of Rubble. What Will It Take to Rebuild?
Since then, more than 70% of Gaza’s housing, already depleted in previous conflicts, has been reported as damaged, along with schools, hospitals and businesses. Most of its 2.2 million people are displaced, crammed into a tiny slice of land along the Mediterranean coast, largely cut off from fresh water and food, as well as medicine and basic sanitation, aid agencies say.
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Will Riyadh Metro ease the city’s traffic jams? What you need to know
Reports indicate that parts of the 176 km system could launch this year or early 2025. However, authorities have not announced anything official yet. The project was first launched in 2014, with an initial plan to complete it by 2019. But for various reasons, including Covid-19, the construction of Riyadh Metro has taken longer than expected.
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How Does the Jafurah Gas Field Support Saudi Arabia’s Economic Growth?: Video
Witness the second expansion of the Jafurah unconventional gas field, the largest shale gas field in the Middle East Equipped with cutting-edge technologies, we aim to advance our efforts in contributing to the future of power generation, one that is more efficient
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Commentary: Does Kamala Harris Have a Vision for the Middle East?
But like the Hotel California, the Middle East doesn’t let you leave, even after you check out. Obama and Trump both made historic deals purportedly to increase stability in the region and allow the United States to pivot elsewhere. But unexpected events popped up for both as well as for Biden, pulling them back in and leading them to expend much of their energy there.
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Commentary: What Was the Biden Doctrine?
Biden’s response to the most pressing emergency of his term—Russia’s brutal full-scale invasion of Ukraine in 2022—has been both skillful and innovative, demonstrating a grasp of the traditional elements of statecraft along with a willingness to take a few unconventional steps.
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The IMF, CPEC, and Pakistan: Will the Chinese save Islamabad yet again?
The China-Pakistan Economic Corridor (CPEC), once heralded as a “game-changer,” has almost disappeared from the spotlight in recent years in Pakistan. The multibillion-dollar project aims to connect China's northwestern region of Xinjiang with Pakistan's Gwadar Port on the Arabian Sea through a network of highways, railways, and pipelines, offering strategic dividends to China and an economic lifeline to Pakistan. In recent years, the project has faced slow implementation, unpaid loans, corruption, and a dire security situation in Pakistan.
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Commentary: Is a Defense Treaty With Saudi Arabia Worth the Commitments?
In the latest from the Pivotal States series, which examines alternative U.S. foreign policy approaches to the world’s key nations, American Statecraft Program Director Christopher S. Chivvis discussed the future of the U.S.-Saudi Arabia relationship with Kim Ghattas, a contributing editor at Financial Times; Aaron David Miller, American Statecraft senior fellow; and Ambassador Dennis Ross, distinguished fellow at the Washington Institute for Near East Policy.
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As international dollars flow towards AI-powered startups, how has MENA been riding the wave?
Saudi Arabia-based Intelmatix, a deep tech B2B startup focused on empowering MENA businesses with AI for decision-making, has recently secured a $20M Series A funding round—one of the largest for a regional company of this type. This past week also saw Saudi-based SaaS provider Velents AI join the AI funding frenzy, raising an undisclosed sum from Women Collective to fuel its growth. And just last week, Aramco’s venture arm, Wa’ed Ventures, splashed $15M on South Korean chipmaker Rebellions Inc., marking its debut investment in South Korea following a $6.5M investment in California-based aiXplain. That was Wa’ed Ventures’ second AI deal in one week!
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