MUST-READS

• AI Leaders Gather in Saudi Arabia to Talk Energy

  Schwarzman of Blackstone, which is building a $25 billion data center empire, estimated that the AI boom could potentially propel electricity use to soar 40% in the next decade. He warned that could slow the development of the technologies, quite aside from its disruption to global economies. “In four years, giant economies, at the rate that expansion is going to happen, are going to stock out of electricity unless there’s either efficiencies in semiconductors and other types of things or you’re going to have to slow down the growth or have a giant expansion,” he said.

• Riyadh hosts first meeting of ‘international alliance’ pushing for Palestinian state

  The Riyadh meeting was expected to focus on humanitarian access, the embattled UN agency for Palestinian refugees and measures to advance a two-state solution, diplomats said. The European Union was set to be represented by Sven Koopmans, the special representative for the Middle East peace process, diplomats said. The United States, Israel's top military backer, sent Hady Amr, the State Department's special representative for Palestinian affairs.

• 4,000-year-old fortified town found in Saudi Arabian oasis

  The remains of the town, dubbed al-Natah, were long concealed by the walled oasis of Khaybar, a green and fertile speck surrounded by desert in the northwest of the Arabian Peninsula. Then an ancient 14.5 kilometre-long wall was discovered at the site, according to research led by French archaeologist Guillaume Charloux published earlier this year. The large town, which was home to up to 500 residents, was built around 2,400 B.C. during the early Bronze Age, the researchers said. It was abandoned around a thousand years later. "No one knows why," Charloux said.

• Saudi Arabia’s labour law amendments: What they mean for employers and employees

  Set to take effect on February 18, 2025, these changes align with the kingdom’s Vision 2030 goals, aiming for a balanced labour market that encourages fair treatment, Saudisation and improved work conditions. The new amendments also expand leave entitlements, granting 12 weeks of maternity leave (six of which are mandatory post-birth), three days of paternity leave, and an additional three days of bereavement leave for the death of a sibling. These changes reflect a progressive shift towards global labour standards, focusing on work-life balance and family support.

• Deputy Secretary Campbell’s Meeting with Saudi NSA al-Aiban and Minister al-Swaha
  Deputy Secretary of State Kurt M. Campbell met today with Saudi Arabia’s National Security Advisor Musaid al-Aiban and Saudi Minister of Communications and Information Technology Abdullah al-Swaha. They discussed a range of efforts to expand U.S.-Saudi cooperation in artificial intelligence (AI) and other areas of science and technology. Deputy Secretary Campbell affirmed the United States’ commitment to partnering with Saudi Arabia to build advanced tech ecosystems and unlock the potential of safe, secure, and trustworthy and responsible AI. They also discussed continued efforts to de-escalate tensions and work toward lasting peace and security in the region.

• PIF partners with Google Cloud to create AI hub in Saudi Arabia

  The partnership will provide AI training for millions of Saudi students and professionals, supporting the national objective of expanding the information and communication technology sector by 50 percent. Through Google Cloud’s technology, industries will have enhanced access to AI applications, enabling growth and capacity building. The agreement, subject to regulatory approvals, also includes joint research on Arabic language models and Saudi-specific AI applications.

• Can Saudi Arabia build a thriving fintech hub by 2030?

  Let’s say an international fintech is looking to come to Saudi Arabia. First, Fintech Saudi will have a consultation with the company to understand its business model and determine if it needs to be regulated by the major financial bodies. If so, it brings in subject matter experts, law firms as well as other companies in the industry to give the relevant guidance, while involving the main regulators throughout the entire process. Next, Fintech Saudi will connect the company with the Ministry of Investment, which can provide support with setting up an entity in Saudi Arabia.⁸ Finally, Fintech Saudi can give the company links to private service providers in the country–such as office space or software businesses–that can help it get up and running quickly.

• Archaeologists discover 4,000-year-old Bronze Age settlement hidden in Saudi Arabian oasis

  Archaeologists discovered the site near the city of Al-'Ula in the Hejaz region of western Saudi Arabia and called it "al-Natah." The settlement covered about 3.7 acres (1.5 hectares), "including a central district and nearby residential district surrounded by protective ramparts," the researchers said in a statement. But the town, which was occupied starting around 2400 B.C., was small, with a population of only around 500 people, the team noted in a study, published Wednesday (Oct. 30) in the journal PLOS One. The town was abandoned sometime between 1500 and 1300 B.C., but researchers aren't sure why this happened. "It's a pertinent question that I can't really answer at the moment," Charloux said, noting that "we have very few clues about the last phase of occupation."

• Golf Saudi CEO aims to break golf’s ‘elite’ image, making sport accessible to all

  “There’s the expression of ‘you build it and they will come.’ Golf is one of those sports that once a person adopts it, it’s almost for life. So, we’re working [towards that],” Alireza said speaking from the Riyadh Golf Club. “Our strategy in Golf Saudi is to build both demand and supply. But in order for the demand to come, the focus over the next two years is building as much infrastructure as possible,” he explained.  One way that Golf Saudi is working towards expanding interest for golf is working with entertainment facility TopGolf to build facilities across the Kingdom to draw in non-golfers who might eventually express bigger enthusiasm for the game.

• Saudi’s KAFD signs agreement for Monorail Project

  The Monorail spans 3.6 kilometers and features a driverless autopilot operation, setting new standards in safety and efficiency. The sleek, elevated system will consist of six trains, traveling along a circular track with six stations strategically placed across the district to connect key areas, encompassing office buildings, retail spaces, and leisure facilities. The Monorail also offers seamless connectivity by integrating with the Riyadh Metro, making transfers smooth with enhanced accessibility throughout the city. Its design aligns with KAFD’s vision of a “10-Minute City”.

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