MUST-READS

• Shamoon virus returns in Saudi computer attacks after four-year hiatus
  Shamoon, the destructive computer virus that four years ago crippled tens of thousands of computers at Middle Eastern energy companies, was used two weeks ago to attack computers in Saudi Arabia, according to several U.S. cyber security firms.
  CrowdStrike, FireEye Inc, Intel Corp's McAfee security unit, Palo Alto Networks Inc and Symantec Corp warned of the attacks, though they did not name any victims. They did not say how much damage had been caused or identify the hackers using Shamoon, which cripples computers by wiping drives used to start machines.

• Saudi women are learning financial literacy and it’s helping the country grow

  While economic growth might be the overarching national motivation, international organizations are building programs that seek to empower individuals as well. The International Monetary Fund and World Bank have worked with individual countries to enhance financial literacy at the population level through targeted national programs, and the Organisation for Economic Co-operation and Development (OECD) has developed guidelines to support participating countries in improving financial literacy.

• Dubai Advisory Setting Up Shop in Saudi Arabia Upbeat on FDI

  In a sign of the need for more capital, executives from so-called giga projects like Neom and Qiddiya were out in force this week at events in the capital city of Riyadh to pitch themselves to potential partners and investors. Neom also recently held a show-and-tell for bankers.

• Saudi Interior Ministry launches digital ID service for Hajj pilgrims

  The Ministry of Interior launched the digital identity service for the Hajj pilgrims, who are arriving in the Kingdom from all over the world to perform the pilgrimage this year. The launch of the service is part of the efforts of the Saudi government to tap the potential of digital transformation and harness technology to serve the guests of God in a way achieving the goals of the Kingdom’s Vision 2030.

• How Hamas Saved Egypt

  Last fall, Egypt was on the brink of economic collapse. A decade of debt-fueled spending on a pharaonic-scale had emptied its Central Bank coffers. By February, Cairo’s public debt was 89% of its gross domestic product. External debt had soared to 46% of GDP. The pound, its currency, was one of the world’s worst performing. Unable to import supplies and repatriate profits, foreign companies were leaving, or threatening to leave Egypt in droves. Annual inflation was over 35%, and double that for some food staples. Egypt seemed on the verge of a sovereign default—its first ever.

• What to expect from Saudi Arabia’s first Red Sea Fashion Week

  Riyadh Fashion Week launched in 2023. And most recently, Lebanese designer Rami Kadi took a leaf out of the Dolce & Gabbana book by staging his latest couture show at AlUla.

  The first Red Sea Fashion Week will begin on Thursday, showing that the kingdom has big plans to put the nation firmly on the fashion map.

  Running until May 18, the event is being held at the newly opened The St Regis Red Sea, located on a private island and accessible only via boats.

• Front Row Snaps Up World Rights For Saudi-Emirati Family Comedy ‘Al Eid Eiden’

  MENA distributor Front Row Filmed Entertainment has acquired global distribution rights for Image Nation Abu Dhabi’s Saudi-Emirati family comedy Al Eid Eiden.

  The film features Saudi star Fahad Al-Butairi (Telfaz11’ Al-Khallat+, The Office, From A to B) alongside actress Emirati Meerra Al Midfa (The Monster) and Egyptian actor Shadi Alfons (Malek Al Halba, Ramy).

  It follows a Saudi-Emirati family as they make the final preparations for a Eid getaway in Abu Dhabi. An unexpected turn of events on their day of travel changes things drastically for the parents, but not wanting to disappoint their three young children, they decide to go ahead as planned.

• How are Ronaldo and other Saudi Pro League stars shaping up for Euros?

  England kick off Euro 2024 against Serbia on 16 June and if Jordan Henderson is called up then the former Al-Ettifaq midfielder should be able to give Gareth Southgate an idea of the form Aleksandar Mitrovic and Sergej Milinkovic-Savic are in. They are two of a growing number of European internationals who will be acting as unofficial ambassadors for the Saudi Pro League (SPL) this summer – especially if they underperform.

• Saudi Arabia opens up to Iraq’s Shiite shrines

  Indicating a changing approach to Iraq, Saudi Ambassador to Baghdad Abdulaziz Al-Shammari has paid a highly publicized visit to a major Shiite shrine in the city of Karbala. The ambassador was welcomed by Karbala Governor Nassif Al-Khattabi in addition to other civil and religious dignitaries, hailing a mutual desire for “economic and political integration in all fields.”

• Successful Completion of the First Saudi SolarThon at Alfaisal University

  This past weekend, Alfaisal University, Dimensions Startup Studios in collaboration with the College of Engineering, proudly hosted the first-ever Saudi SolarThon, an extraordinary gathering of minds focused on advancing solar energy technology. This event, held at our Dimensions Startup Studios, attracted esteemed guest speakers from King Abdullah University of Science and Technology (KAUST) and the King Abdulaziz City for Science and Technology (KACST) and OptimalPV.

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