MUST-READS

• US-Saudi defense deal with civil nuclear component nears completion, official says
  The U.S. and Saudi Arabia have reached a "near final set of arrangements" for a defense pact that includes a civil nuclear component but obstacles remain for a broader regional deal that would normalize relations between Israel and Riyadh, a senior U.S. official said on Tuesday.
  The official said the bilateral deal was "more or less complete," but cautioned that certain elements, including a credible pathway to Palestinian statehood and steps on stabilizing war-torn Gaza, still needed to be completed.

• 142 women soldiers graduated

  A total of 142 female soldiers have graduated from the Women’s Training Institute under the directorate of Public Security. The graduation ceremony of the sixth batch of women soldiers was held under the patronage of Minister of Interior Prince Abdulaziz bin Saud bin Naif and in the presence of Public Security Director Lt. Gen. Muhammad Al-Bassami. The graduates have completed their basic training course, and these included training in applications and various branches of knowledge, as well as theoretical and practical lessons on the skills required by the tasks and security work entrusted to them while undertaking security jobs and special assignments.

• Introducing Saudi Arabia’s first nightclub where booze is banned and it costs £1,900 to get in! Revellers dance the night away at members-only ‘sovereign wealth fund-backed’ Beast House

  Beast House, found in Riyadh’s artistic Jax District, a vibrant hub for artists and creatives, has been hailed as the start of 'a new life' by excited revellers. While DJs, chic interiors and the opportunity for socialising are all present at the music venue, alcohol remains forbidden, with mocktails served at the bar instead and bouncers on hand to enforce the no-booze rules, according to The Times.

• Sungrow Signs the 760MWh Off-Grid Energy Storage Project to Propel Saudi Arabia’s 2030 Vision

  Sungrow, the global leading PV inverter and energy storage system provider, has forged a strategic partnership with Larsen & Toubro to supply 165MW PV inverters and 160MW/760MWh energy storage systems for AMAALA, a prestigious destination in Saudi Arabia. This collaboration aligns with Saudi Arabia’s Vision 2030 and China’s Belt and Road Initiative, marking a pivotal moment in sustainable energy development. This flagship project is developed and led by EDF Group, the leading French utility company specialized in low carbon electricity generation with over 91% of its own production free of CO2 emissions, and Abu Dhabi Future Energy Company (Masdar), for the client Red Sea Global.

• Saudi Arabia signs 1,100 MW of PPAs at “record low” price for wind

  Saudi Arabia has signed two power purchase agreements (PPAs) with a consortium led by Japan's MARUBENI Corp. (TYO:8002) for 1,100 MW of wind energy capacity, claiming that it has achieved a world "record low" price for wind energy at USD 15.65 (EUR 14.35) per MWh.

• Saudi Arabia’s NEOM: New video shows rapid progress at mega project, workers doubled

  Saudi Arabia’s NEOM has unveiled a new progress video showing rapid development being made on the mega business and tourism project, with more than 140,000 construction workers developing key regions across the futuristic site.

  The progress film shows real-world footage of the large-scale construction across the mega site and revealed its workforce has doubled over the past year.

• Knight Frank: The Saudi Report – 2023

  In this Saudi Report 2023 Highlights special, we have identified five stand-out opportunities to consider that will help deliver the ambitions of Vision 2030 and which align with our market experience, all confirmed by our survey. You can read the full analysis of the data gathered through our three

• Saudi Arabia rises 9 spots in WEF’s global tourism index

  Saudi Arabia has climbed nine spots to rank 41 on a global tourism index – marking the Gulf region’s largest improvement – thanks to its strengthening infrastructure, corporate presence, and major business centers. According to the World Economic Forum’s Travel & Tourism Development Index report, Saudi Arabia has recorded the most significant improvement in the Middle East and North Africa region since 2019.

• New 9/11 Evidence Points to Deep Saudi Complicity

  Some of the disputes are less about facts than about interpretation. The Capitol video, in the Saudi view, is nothing more than a typical home movie by an enthusiastic tourist; the San Diego video of Bayoumi’s party in the hijackers’ apartment is said to depict a gathering of mosque-goers for some purpose unrelated to the presence of two newly arrived al-Qaeda terrorists. If the court denies the Saudi motion to dismiss in the coming months, we will know whose view of the evidence has been the more persuasive.

• Iranian’s President’s Death Compounds Regional Turmoil

  The unexpected May 19 death of Iran’s President Ibrahim Raisi in the crash of the helicopter returning him and Foreign Minister Hossein Amir-Abdollahian from an official visit to neighboring Azerbaijan will not produce any short-term changes in Iranian domestic or regional policies. Raisi’s passing will scramble the internal maneuvering to succeed Iran’s 85-year-old Supreme Leader, Grand Ayatollah Ali Khamene’i. The crash comes amidst major regional turmoil triggered by the October 7 Hamas attack on Israel and the subsequent Israeli ground offensive in Gaza, as well as ongoing public unrest within Iran that caused turnout for parliamentary elections on March 1 to be the lowest since the Islamic Republic came to power in 1979.

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