MUST-READS

• Saudi anti-corruption agency finds hidden, destroyed evidence in food poisoning cases

  Initial investigations into the recent cases of food poisoning reported in Riyadh found that several attempts had been made to conceal or destroy evidence, Saudi Arabia’s Oversight and Anti-Corruption Authority (Nazaha) said in a statement on Thursday.

  The investigation suggested potential collusion by a small number of food inspectors who prioritized personal gain over public health and safety, the statement added.

• Fincantieri continues Middle East push with Saudi Arabia subsidiary

  The Saudi unit will support the kingdom’s development agenda, focusing on the cruise, defence and offshore sectors and developing more energy-efficient ships, in line with Saudi Arabia’s own stated goal of culling its emissions by 2060. The announcement was made at the margins of an industry conference in Riyadh themed Where Vision Meets Maritime Excellence, attended by Saudi and Italian government officials including Italy’s Deputy Prime Minister and Minister of Foreign Affairs.

• Saudi Arabia spending big for a place on the gaming map

  "We don't pause. We don't do neutral," Savvy Games CEO Brian Ward said in a joint interview in Japan with Prince Faisal bin Bandar bin Sultan Al Saud, chair of the Saudi eSports Federation. "It's a good time to be in the market, looking for good teams in studios," said Ward, a former executive at "Call of Duty" maker Activision Blizzard, Electronic Arts and Microsoft.  

• Saudi Aramco interested in buying minority stake in Repsol’s renewable unit, Expansion reports
  State-controlled oil company Saudi Aramco (2223.SE), opens new tab is interested in buying a minority stake in the renewable unit of Spanish oil company Repsol (REP.MC), opens new tab, newspaper Expansion reported on Friday, citing unidentified market sources.
  Saudi Aramco has approached Repsol as it is mostly interested in the Spanish company's renewable assets in the U.S. The Saudi giant had not filed a formal offer yet, Expansion said.

• ‘Norah,’ Saudi Arabia’s first Cannes Film Festival entry, makes international debut

  The Saudi film ‘Norah,’ Saudi Arabia’s maiden entry into the Cannes Film Festival, was screened on Thursday for international audiences for the very first time at the 77th edition of the festival.

  The film was screened at Cannes’ prestigious Un Certain Regard, “a certain look,” section – a significant symbol of the Kingdom’s rapidly growing film industry following the lifting of a 35-year-old ban on cinema in 2017.

• Are new agencies meeting Saudi brand needs?

  The Saudi Arabian marketing landscape is abuzz with new agencies emerging almost daily, each promising unparalleled creativity to eager brands. Amidst this whirlwind of pitches and presentations, the question arises: are these agencies genuinely addressing the evolving needs of Saudi brands? Campaign Middle East heard from Abdulelah Al Nahari, Business Director at Fuse Integrated. He shed light on what new agencies entering the Saudi market should keep in mind in the early stages of their operations.

• Saudi Arabia’s envoy opens ‘Al-Mangour: Loved and Beloved’ exhibition in US

  Princess Reema bint Bandar, Saudi Arabia’s US ambassador, opened the exhibition “Al-Mangour: Loved and Beloved” in Washington on Wednesday. The work by Saudi Arabia artist Ahmad Angawi was presented by the Saudi Embassy and the International Finance Corporation. The exhibition, held at the IFC’s headquarters, showcases the beauty of Al-Mangour, the traditional Hijazi craft that consists of wooden latticework forming a mesh-like screen.

• Saudi Arabia’s non-oil exports rise 3.3 percent to $18.6 billion in Q1 2024

  Saudi Arabia’s non-oil exports, including re-exports increased by 3.3 percent in the first quarter (Q1) of 2024, reaching SAR69.8 billion ($18.6 billion) on an annual basis. 

  According to data from the Saudi Statistics Authority, national non-oil exports excluding re-exports declined by 5.2 percent, while the value of re-exported goods rose by 31.5 percent during the same period.

  Commodity exports in Q1 2024 decreased by 5.7 percent compared to Q1 2023, as oil exports fell by 8.3 percent to SAR221.87 billion. The total value of commodity exports stood at SAR291.7 billion ($77.77 billion).

• Goldman Sachs first Wall Street bank to get green light for Saudi Arabia HQ

  Goldman Sachs has reportedly become the first Wall Street bank to obtain a license to open a regional headquarters in Saudi Arabia, as the kingdom deepens its financial markets amid sweeping economic reforms. The US-headquartered investment bank received a license from the Saudi Ministry of Investment to set up its regional headquarters in Riyadh, the capital, Bloomberg reported Thursday.  

• Saudi Arabia provides Jordan with equipment for airdrop of relief supplies in Gaza

  Saudi Arabia, represented by the King Salman Center for Relief and Humanitarian Aid (KSrelief), has supplied equipment and tools to Jordan, represented by the Jordanian Hashemite Charitable Organization, to be delivered to the Jordanian Hashemite Armed Forces (Arab Army) and relevant authorities. This is aimed to support the humanitarian efforts made by Jordan to deliver aid to the Gaza Strip to alleviate the severity of the humanitarian conditions prevailing there, by providing parachutes and nets designated for airdrops of humanitarian aid weighing 30 tons.

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