MUST-READS

• Saudi Arabia to Launch a Centre for Space Futures in the Forum’s Fourth Industrial Revolution Network
  The World Economic Forum has signed an agreement with the Saudi Space Agency to establish a Centre for the Fourth Industrial Revolution (C4IR) focused on space.
  The Centre for Space Futures, set to open in autumn 2024, will be hosted by the Saudi Space Agency. It aims to facilitate public-private discussions on space collaboration, incorporating best practices from the Forum and its communities into the global space sector and generating contributions to accelerate space technologies.

• What is the International Criminal Court and why it has Israeli officials worried

  Netanyahu said Friday on the social platform X that Israel “will never accept any attempt by the ICC to undermine its inherent right of self-defense.” “While the ICC will not affect Israel’s actions, it would set a dangerous precedent,” he wrote. Israel’s Foreign Ministry said late Sunday that it had informed missions abroad of “ rumors ” that the court could order the arrest of senior Israeli political and military officials. The ministry did not give a source for the rumors.

• Iran’s Lessons Learned From Direct Confrontation With Israel

  Receiving Iran’s top military commanders April 21, Supreme Leader Ayatollah Ali Khamenei said: “How many missiles were launched and whether they reached their targets or not … is a secondary issue. The main issue is the manifestation of the resolve of the Iranian nation and that of the armed forces in the international arena.” Disregarding the bluster, Khamenei’s statements were seemingly an admission of the inefficacy of Iran’s missiles against the formidable Israeli and allied air defense systems.

• Continued Progress in Saudi Economic Diversification

  Similarly, in a year such as 2022, when oil production and oil export revenue are high, the economy can look less diversified even if the non-oil sector has done well. It is therefore important to look through short-term swings in the oil market to identify underlying trends in diversification. One way of doing this is to compare two years when oil export revenue is similar. Below, outcomes in 2023 are compared with 2018 – when Saudi oil export revenue was $232 billion, close to the $248 billion in 2023 – and 2022.

• Residents of northern Israel brace for possible all-out war with Hezbollah
  Eli Harel was an Israeli soldier in his early thirties when he was sent into Lebanon in 2006 to battle fighters from the Iranian-backed group Hezbollah in a bloody, largely inconclusive month-long war.
  Now 50, Harel is ready to rejoin the army to fight the same group if shelling along Israel's northern border turns into a full-blown war with Iran's most powerful regional proxy. This time Israeli forces would face some of the most challenging fighting conditions imaginable, he said.

• 3 citizens and expatriate arrested for money laundering involving SR200 million

  It was revealed in investigations that a female citizen started a commercial entity to collect debts and handed it over to her husband, who in turn enabled the expatriate to manage the entity and its bank accounts, while another citizen also carried out the same criminal method. This enabled the expatriate to exploit these bank accounts with cash deposits amounting to more than SR200 million, in exchange for external transfers without making any customs imports.

• How AI is reshaping Saudi Aramco’s oil exploration and underwater operations strategy

  Saudi Aramco is spearheading the innovations by embracing cutting-edge technologies like artificial intelligence, both within its core operations and beyond, which places the company ahead of the curve. The Saudi state-owned oil company has significantly invested in research and development compared to its industry peers, allocating approximately 3.5 USD billion in 2023, representing a 15% annual increase despite global challenges. This investment is reflected in its innovative efforts, which extend beyond its primary operations.

• Saudi authorities issue severe weather warning

  Saudi authorities warned residents that most parts of the Kingdom will experience severe weather until Friday. The National Center of Meteorology on Monday forecast moderate-to-heavy rain in the Madinah, Makkah, Jeddah, Baha and Najran regions, accompanied by high winds, hail and thunder. Saudi Arabia’s General Directorate of Civil Defense also issued severe weather warnings accompanied by safety instructions as the country braces for heavy rainfall in coming days. The Civil Defense said that most parts of the Kingdom will experience moderate-to-torrential thundershowers, accompanied by strong winds, until Friday.

  • The National - Schools closed in Saudi Arabia as heavy rain and floods forecast
• Saudi Crown Prince leads Special Dialogue at WEF special meeting in Riyadh

  Saudi Arabia’s Crown Prince Mohammed bin Salman led a Special Dialogue session at the World Economic Forum special meeting in Riyadh on Sunday where prominent figures from different industries discussed challenges and plans, the official Saudi Press Agency (SPA) reported on Monday.

• Saudi Aramco is looking at investment in new energies outside of the kingdom, CEO says

  Saudi Arabia's state-oil giant Aramco (2223.SE), opens new tab is looking at investments right now in new energies outside of the kingdom, CEO Amin Nasser said on Monday at the sidelines of a World Economic Forum special meeting held in Riyadh.

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