MUST-READS

• Saudi Launches USD83.2 Million Financial Initiative To Bolster Research Laboratories

  The Research Development and Innovation Authority (RDIA) has introduced its inaugural financial initiative totaling $83.2 million, dedicated to bolstering research laboratories throughout Saudi Arabia. This initiative aims to enhance research facilities and laboratories across the Kingdom, aligning with the national research priorities outlined by Crown Prince and Prime Minister Mohammed bin Salman, who also serves as the chairman of the Supreme Committee for Research, Development, and Innovation.

• Ethiopia to repatriate 70,000 nationals from Saudi Arabia

  Ethiopia will repatriate some 70,000 of its nationals living in Saudi Arabia starting early April. State Minister Birtukan Ayano said the repatriation, the third such programme since 2018, will target “Ethiopians who are in a difficult situation”. During the announcement last week the minister didn't specify whether the returnees have been living in Saudi Arabia legally.

• Historic decline in unemployment rate among Saudi women reaching 13.7% in 4Q 2023

  There has been a historic decline in the unemployment rate among Saudi women reaching 13.7 percent during the fourth quarter of 2023. The rate fell 2.6 percent from 16.3 percent during the third quarter of the year while the unemployment rate among Saudi men remained stable at 4.6 percent in the fourth quarter of last year, which was the same level as in the third quarter.

• The Impact of the Saudi Civil Transactions Law on Major Project Delivery

  It is evidently essential for the success of Vision2030 that its two fundamental strategies — major project delivery and legislative reform — are implemented interdependently and cohesively. In this context, the purpose of this note is to assess the potential impact of the Kingdom’s latest and most ambitious legislative reform to date — the Civil Transactions Law

• Opinion: UN’s Selecting Saudi Arabia To Lead Women’s Rights Forum May Advance The Cause

  The UN’s decision to give the chair of the “Commission on the Status of Women (CSW)” to Saudi Arabia on March 27 has been roundly condemned by human rights groups and the media citing that country’s “abysmal” record on women’s rights. Interestingly, there were no rival candidates and no dissent either at the CSW’s annual meeting in New York. The decision was proposed by the group of Asia-Pacific States on the Commission.

• U.S. Special Envoy for Yemen Lenderking’s Travel to Saudi Arabia and Oman
  U.S. Special Envoy for Yemen Tim Lenderking is traveling to Saudi Arabia and Oman this week to meet with partners to discuss the need for an immediate cessation of Houthi attacks in the Red Sea and Gulf of Aden, which are undermining progress on the Yemen peace process and the delivery of humanitarian assistance to Yemen and other countries in need.
  The United States remains firmly committed to supporting a durable peace in Yemen and alleviating the complex humanitarian and economic crises harming the Yemeni people. The United States supports a return to UN-led peace efforts once the Houthis halt their indiscriminate attacks.
  Special Envoy Lenderking will meet with regional counterparts to discuss the steps to de-escalate the current situation and renew focus on securing a durable peace for the Yemeni people.

• Saudi Exchange Welcomes 400th Listed Security

  Speaking on the occasion, Nasser Al Ajaji, Chief of Listing, said, “The 400th listed security on the Saudi Exchange marks a significant milestone and is a clear testament to the Kingdom’s dynamic capital market and its growing appeal to investors globally. In only 16 years, the Saudi Exchange has grown rapidly to rank among the top ten stock exchanges in the world. These achievements are more than just a number; they are symbolic of the economic diversity and growth spurred by Saudi Arabia’s Vision 2030, the Financial Sector Development Program, and the support of the CMA to accelerate the IPO pipeline. All of this reflects the potential we are poised to realize.”

• Saudi Arabia condemns targeting of Iranian consulate in Syria

  Saudi Arabia has condemned the targeting of the Iranian consulate building in the Syrian capital Damascus, a foreign ministry statement said early Tuesday. On Monday, suspected Israeli warplanes bombed Iran’s consulate in Syria, a marked escalation in a war pitting Israel against its regional adversaries, and Tehran said the strike killed seven military advisers including three senior commanders.

• Rogers, Smith Statement On Return Of Congressional Delegation To Saudi Arabia, Türkiye, And Uzbekistan

  U.S. Representatives Mike Rogers (R-AL) and Adam Smith (D-WA), Chairman and Ranking Member of the House Armed Services Committee, released the following statement after returning from a congressional delegation to Saudi Arabia, Türkiye, and Uzbekistan. Joining them on the delegation were Representatives Salud Carbajal (D-CA) and Veronica Escobar (D-TX), both members of the committee.

• Saudi Arabia condemns attack on Iran’s consulate in Damascus

  “The Ministry expresses the Kingdom’s categorical rejection of targeting diplomatic facilities for any justification, and under any pretext, which is a violation of international diplomatic laws and the rules of diplomatic immunity,” the ministry said in a statement carried by state news agency SPA. Iran on Monday accused Israel of targeting its consulate in Damascus with airstrikes and killing seven Iranian military personnel, including two senior commanders.

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