MUST-READS

• Saudi Arabia ‘very, very close’ to US security pact tied to Palestinian state

  Saudi Foreign Minister Faisal bin Farhan said on Monday that bilateral agreements with the United States were “very, very close” as Riyadh seeks to secure defense and security pacts with the kingdom in exchange for normalizing relations with Israel. "On the bilateral agreements between the kingdom and the US, we are very, very close, and most of the work has already been done. We have the broad outlines of what we think needs to happen on the Palestinian front,” the top Saudi diplomat said at a special meeting of the World Economic Forum in Riyadh. He added that the only way such agreements would work is if there is “truly a pathway to a Palestinian state.” Read more: https://www.al-monitor.com/originals/2024/04/saudi-arabia-very-very-close-us-security-pact-tied-palestinian-state#ixzz8Yt4mbYTZ

• Experts Explain Saudi Arabia’s 2-Kilometre Skyscraper

  Most people would struggle to imagine the height of a 2-kilometre skyscraper, so instead picture a map of Manhattan. The huge strip of green in the middle is Central Park, which measures 4-kilometres in length. Split the park in half, stand it vertically and there, soaring above the New York skyline, would be a 2-kilometre skyscraper.

  • AJ - Foster + Partners behind plans for 2km-tall Saudi tower
• BlackRock Gathers Investors for Saudi Summit

  The world’s largest asset management company is hosting the event alongside the Saudi Ministry of Finance, according to people familiar with the matter, who asked not to be identified discussing private information. The goal: showcasing investment opportunities and giving an overview of progress on the country’s trillion-dollar Vision 2030 program.

• The Siren Call of an Israeli Invasion of Lebanon

  lthough much of the world is breathing a sigh of relief that Iran and Israel appear unwilling to push their exchange of missile and drone attacks further, potentially plunging the Middle East into a wider war, the danger of another escalation has not passed. Rather, the concern has shifted to a possible Israeli offensive against Hezbollah in Lebanon. Israel has threatened this, and U.S. officials and others in the region fear that such a plan has been in the works for months.

• Saudi minister announces 10% increase in tourist numbers in Q1 2024

  Saudi Arabia's Tourism Minister Ahmed Al-Khateeb announced a significant increase in the country's tourism sector during a panel discussion titled "Vacationomics" at the special meeting of the World Economic Forum (WEF) in Riyadh.

  Al-Khateeb highlighted the substantial growth in tourist numbers, which have risen by 10% in the first quarter of 2024, with spending by tourists increasing by more than 17%.

• Kingdom of Saudi Arabia pledges US $500 million to protect children around the world from polio and end the disease for good

  New commitment will help vaccinate 370 million children against polio every year for the next five years, protecting them from paralysis and even death, and build stronger health systems to achieve and sustain a polio-free world.

• Saudi Arabia set on securing lithium for EV ambitions
   Saudi Arabia is committed to sourcing lithium from overseas as it looks to produce EV batteries and invest in the electric vehicle sector, a senior minister said in an interview, noting attempts to secure domestic supplies were at an early stage.
  Saudi Arabia, whose economy has for decades relied on oil, has spent billions attempting to turn itself into a hub for EV manufacturing as part of defacto ruler Crown Prince Mohammed Bin Salman's attempts to diversify the economy.

• Saudi Arabia embraces AI to revolutionize healthcare and industry, says minister at WEF

  Saudi Minister of Communications and Information Technology, Abdullah Al Swaha, emphasized the transformative shift humanity is undergoing towards artificial intelligence (AI), during a session at the World Economic Forum currently held in Riyadh.

  He affirmed Saudi Arabia's commitment to collaborating with international nations and organizations to pave the way for inclusive AI adoption.

• Saudi Arabia may ‘scale back some Vision 2030 projects and speed up others’

  Saudi Arabia’s Finance Minister Mohammed Al Jadaan on Sunday said the kingdom would adapt to current economic and geopolitical challenges and “downscale” or “accelerate” some of the projects being carried out under its Vision 2030 programme.

  Asked whether Saudi Arabia had to "mark-to-market" its expectations regarding the goals of the 14-year long programme, Mr Al Jadaan said: “Absolutely, yes.”

• Saudi Arabia’s NEOM secures $2.7 billion new financing facility
  NEOM, a unit of the kingdom’s sovereign wealth fund, secured a new revolving credit facility (RCF) worth 10 billion riyals ($2.67 billion) from local lenders, according to a NEOM statement seen by Reuters on Sunday.
  Saudi National Bank, Riyad Bank, and Saudi Awwal Bank acted as the lead arrangers on the new facility while other participant banks are Al Rajhi Bank, Alinma Bank, Arab National Bank, Bank Albilad, The Saudi Investment Bank, and Bank AlJazira, the press release shows.

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