MUST-READS

• Ras Ghamila: Saudi Arabia offers to buy Egyptian premium Red Sea area using deposits

  Saudi Arabia has presented Egypt with an offer to purchase Ras Ghamila, a prime Red Sea tourist destination, including pulling its deposits from the Central Bank of Egypt, and the acquisition of several government companies, according to an Egyptian government source. The source, who works in the Ministry of Public Business Sector, the entity tasked with negotiating the deal, told Middle East Eye that Saudi officials offered to use the kingdom's deposits with the central bank (CBE), which amount to $10.3bn, an option favoured by the Egyptian side which will allow immediate access to foreign currency.

• Jeddah Historic District, Cruise Saudi team on sustainability strategies
  Jeddah Historic District Program and Cruise Saudi plan to cooperate on how to handle more international cruise visitors while preserving historic sites and benefiting the community.

• Saudi Arabia executes two Syrian nationals for smuggling narcotics

  Saudi Arabia has executed two Syrians over their alleged involvement in drug smuggling within the Kingdom, as the trafficking of narcotics from Syria continues to plague the region. According to the state-run Saudi Press Agency (SPA), the Ministry of Interior released a statement announcing the execution of two criminals of Syrian nationality on Saturday, 11 May, in the Kingdom’s north-western Tabuk region.

• Navigating Marriage Laws in Saudi Arabia for Foreigners: What You Need to Know

  Saudi Arabia's marriage laws are steeped in Islamic tradition and reflect the country's unique cultural norms. Understanding these laws is crucial for foreigners considering marriage in Saudi Arabia, as there are specific requirements for both men and women.

• OPEC sticks to oil demand view, shifts key forecast to OPEC+
  OPEC stuck to its forecast for strong growth in global oil demand in 2024 on Tuesday and said it would switch to focus on projected demand for OPEC+ crude, reflecting that the wider group is now the main forum for cooperation in the market.
  The Organization of the Petroleum Exporting Countries, in a monthly report, said it expected world oil demand to rise by 2.25 million barrels per day (bpd) in 2024 and by 1.85 million bpd in 2025. Both forecasts were unchanged from last month.

• Number of nurses up 23% in Saudi Arabia during 7 years, reaching over 235,000

  The number of nursing staff in Saudi Arabia, who are registered with the Saudi Commission for Health Specialties, has increased to more than 235,000 during the year 2023. The total number of male and female nurses recorded an increase of more than 23 percent during the period between 2016 and 2023, according to a report released by the Ministry of Health on the occasion of International Nurses Day that was celebrated on May 12.

• US gives Saudis green light to try to revive peace deal with Houthis

  US determination to keep Saudi Arabia engaged in a peace process with Israel has led Washington to give Riyadh an informal green light to try to revive a peace deal with the Houthis, the Yemen-based rebels who have been attacking commercial shipping in the Red Sea since November.

• Saudi Mega Projects Seek Partners in Bid to Hit Goals

  Executives from The Line, New Murabba and Diriyah Company — complex developments ranging from a futuristic mega city on the Red Sea to an urban development housing a cube-shaped skyscraper set to be the tallest in the Saudi capital — discussed challenges with supply chains, costs and finding skilled workers as they underscored the urgent need for experienced partners to assist in completing projects.

• UK launches major trade push in Saudi Arabia at Riyadh talks

  Five UK ministers will be at the head of a huge British delegation visiting Saudi Arabia this week, as Britain seeks to strengthen trade and cultural ties with the kingdom. Oliver Dowden, the UK's Deputy Prime Minister, Lucy Frazer, the Culture, Media and Sport Secretary, Dominic Johnson, the Investment Minister and Nick Markham, minister at the Department of Health and Social Care, have taken a British delegation of more than 450 business and cultural leaders to Riyadh, where the UK is hosting an event called Great Futures, aimed at highlighting the co-operation and partnerships between British companies and institutions, and their Saudi counterparts.

• Saudi dates exports jump by 13.7% in Q1 of 2024

  The National Center for Palms and Dates announced that the value of Saudi Arabia’s exports of dates during the first quarter of 2024 rose to reach SR644 million, an increase of 13.7% compared to the same period in 2023 when the value of its exports reached SR566 million.

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