MUST-READS

• Saudi Arabia targets $2.9bn Red Sea tourism spend and 28,000 jobs as it becomes yachting hub

  In collaboration with its partners, SRSA has accelerated infrastructure development along the Red Sea, issuing 29 tourism licences that have strengthened the economic landscape for yacht tourism. Among these, three licences were granted to yacht chartering companies, 10 to marina operators, and five to technical service providers in leisure and tourism, fostering a thriving marine tourism ecosystem. The Red Sea region, spanning 1,800km of coastline, is home to more than 1,000 islands, 150 pristine beaches, and 3,200 cultural and tourism assets, including heritage villages, markets, and active maritime ports.

• Doing business in Saudi Arabia: new opportunities surge under Saudi Vision 2030

  For reference to KSA laws and regulations, the National Center for Archives and Records (NCAR) regularly publishes these in both Arabic and English. NCAR is tasked with the management, preservation, and organisation of KSA’s historic documents and records. The business environment in KSA is rapidly evolving, becoming more dynamic and inclusive, particularly with efforts to promote gender equality. Businesses aiming to operate in the Kingdom must adhere to and respect its Islamic culture and customs.

• Saudi Arabia’s Emergence as a Diplomatic Broker

  Although Riyadh’s audition for the global spotlight began years ago, it has kicked into overdrive this year, with the kingdom hosting multiple bilateral and multilateral meetings since January alone. These include the first high-level, direct meeting between Russia and the United States in years; an emergency Arab League summit to discuss postwar reconstruction plans for Gaza; an international meeting on securing assistance for post-Assad Syria; and the first foreign trips by interim Syrian president Ahmed al-Sharaa and newly minted Lebanese president Joseph Aoun. Most recently, Riyadh hosted President Volodymyr Zelensky this week amid high-level U.S. discussions on resolving the Ukraine war, and a follow-up summit between President Trump and Vladimir Putin may take place there as well.

• Aramco’s Flagship Jafurah Gas Project is Not A Gamechanger for Saudi Arabia

  Operations at Saudi Arabia’s Jafurah shale gas field – the country’s largest unconventional non-oil associated gas site and arguably one of the biggest outside the U.S. – will begin this year, according to a comment last week from Saudi Aramco’s president and chief executive officer, Amin Nasser. The oil and gas giant added that Phase 1 is expected to produce 200 million standard cubic feet per day (Mscfd) of gas this year, with the figure set to rise to 2 billion standard cubic feet per day (Scfd) by 2030. The projected numbers would mark around a 60% increase in Aramco’s gas output capacity, enabling it to meet rising domestic power demand. It could also allow it to reduce the level of crude oil burned in power generation that might be monetised by exporting it, and lay the foundations for significant gas exports in the future as well. The key question for dedicated Saudi Arabia watchers arising from any such statement from the Kingdom over the years is simply how much of it is true?

• Saudi Arabia’s General Entertainment Authority Chief Forges ‘Landmark’ Boxing Promotion Partnership With TKO and Saudi’s Sela

  Turki Alalshikh, the chairman of Saudi Arabia‘s General Entertainment Authority, has forged a multi-year boxing promotion partnership with U.S. sports and entertainment conglomerate TKO and Saudi sports marketing company Sela in what is being touted as a landmark deal. He is the mastermind behind the “Day of Reckoning” boxing matches held in Riyadh involving huge names such as Anthony Joshua and Deontay Wilder. Over the past few years Alalshikh has been behind Saudi Arabia’s large investments in many other sports as well, including soccer, golf, Formula 1 and, most recently, tennis.

• PRIORITY Summit in Miami Highlights Saudi Arabia’s Key Role in Geopolitics, Finance, Technology, and Sports

  The PRIORITY Summit, hosted by the Future Investment Initiative (FII) Institute in Miami, underscored Saudi Arabia's growing influence across geopolitics, finance, technology, and sports. The event attracted top leaders from politics, finance, and technology, reinforcing its status as one of the premier global investment conferences. The summit also served as a call to global investors to participate in multiple opportunities in Saudi Arabia, such as infrastructure, AI, sports, and healthcare, while highlighting opportunities that Saudi investors are keen to pursue internationally. An office to facilitate inbound and outbound investments was announced by the Saudi Minister of Investment, H.E. Khalid bin Abdulaziz Al-Falih, in the presence of Saudi Ambassador to U.S, Princess Reema bint Bandar Al Saud, Abdulrahman Bakir (Managing Director, MISA Americas) and Miami Mayor Francis Suarez.

• PIF and Goldman Sachs Asset Management sign an MoU to partner on investment in Saudi Arabia, GCC

  PIF and Goldman Sachs Asset Management today announced the signing of a non-binding memorandum of understanding (MoU) for PIF to act as a strategic anchor investor for new private credit and public equity strategies in Saudi Arabia and the wider GCC region. The new investment funds will aim to raise equity capital from international investors, with significant capital allocated for investments in Saudi Arabia. The MoU would further strengthen the domestic asset management industry and encourage regional and international managers to expand their presence in Saudi Arabia. Asset management is part of PIF’s wider efforts to diversify the Saudi economy and enhance local capital markets.

• Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman reaffirm commitment to market stability on healthier oil market outlook

  The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman met virtually on March 3, 2025, to review global market conditions and the future outlook. Taking into account the healthy market fundamentals and the positive market outlook, they re-affirmed their decision agreed upon on December 5, 2024, to proceed with a gradual and flexible return of the 2.2 mbd voluntary adjustments starting on 1st April, 2025, while remaining adaptable to evolving conditions. Accordingly, this gradual increase may be paused or reversed subject to market conditions. This flexibility will allow the group to continue to support oil market stability.

• Heavy rains sweep across Saudi Arabia, triggering weather warnings and supension of in-person classes
  Saudi Arabia’s General Directorate of Civil Defense has issued a weather warning for most regions of Saudi Arabia, forecasting moderate to heavy rainfall across large parts of the country until Friday. The affected regions include Mecca, Riyadh, Medina, Tabuk, Hail, Qassim, the Eastern Province, Northern Borders, Al Jouf, Al Baha, and Asir. The Civil Defence urged residents to take necessary precautions, avoid flood-prone areas such as valleys, and refrain from swimming in them.

• PIF and Goldman Sachs Asset Management Sign MoU to Partner on Investment in Saudi Arabia, GCC

  PIF and Goldman Sachs Asset Management today announced the signing of a non-binding memorandum of understanding (MoU) for PIF to act as a strategic anchor investor for new private credit and public equity strategies in Saudi Arabia and the wider GCC region. The new investment funds will aim to raise equity capital from international investors, with significant capital allocated for investments in Saudi Arabia. Under the MoU, the private credit strategy will target directly originated senior and junior loans and debt to companies that are domiciled in the GCC region or do most of their business with it. The public equity strategies will focus on investments in publicly listed equity securities of companies that are either listed on the Saudi exchange or have businesses connected to Saudi Arabia.

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