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  • Jay Monahan says Saudi PIF discussions are ‘accelerating’ but refuses to answer specifics

    During his annual press conference ahead of the 2024 Players Championship, Jay Monahan updated the media on the current state of discussions with Saudi Arabia’s Public Investment Fund. “As I’ve said on a number of occasions, you can’t negotiate a deal like this in public,” Monahan said at TPC Sawgrass on Tuesday morning. “I recently met with the governor of the PIF, Yasir Al-Rumayyan, and our negotiations are accelerating as we spend time together.”

  • As dust from elections settles, Iran’s conservatives clash over spoils

    The recent parliamentary and Assembly of Experts elections in Iran have seen hardliners score decisive victories against more traditional conservatives. In the aftermath of the Mar. 1 polls, divided conservatives have been battling out their differences in public. This comes despite the supreme leader warning against sowing differences for political gains.

  • China’s limits as a diplomatic powerhouse

    The spat between Iran and Pakistan earlier this year—a clash which saw armed cross-border operations by both sides—raises questions about China's potential role as a regional peace broker. Despite attempts to get involved, Beijing remained largely on the sidelines as Islamabad and Tehran de-escalated the situation on their own. This was surprising to many who had anticipated that China might emerge as the region’s next diplomatic heavyweight following its hosting of successful Iranian-Saudi normalization talks in Mar. 2023. As tensions brew in the Red Sea, Beijing’s credibility as a mediator has once again been put to the test.

  • InterContinental opened 5 hotels in Saudi Arabia in 2023, 29 to follow: CEO

    The InterContinental Hotels Group (IHG) opened five new hotels in Saudi Arabia in 2023, with 3,155 rooms. It also signed 14 agreements, and will soon launch another 29 hotels with 10,314 rooms, Asharq Al-Awsat newspaper reported, citing CEO Elie Maalouf. Maalouf pointed out that the Saudi hospitality sector is growing and is expected to witness an increase in revenues to reach $2.93 billion during 2024, with an annual growth rate of 3.33%. He also expected the market size to reach $3.34 billion by 2028. With nearly 50% of the group's development projects in the region completed, the Saudi market represents the most prominent opportunity for IHG hotels and resorts. This is especially true in light of Saudi Vision 2030 as a major contributor to diversifying economic activity.

  • Saudi Arabia says incident with Rabbi Abraham Cooper was result of misunderstanding

    Saudi Arabia said on Tuesday that the denial of Rabbi Abraham Cooper into Diriyah Gate was the result of a misunderstanding, clarifying that Riyadh’s ambassador to Washington, Princess Reema bint Bandar, had spoken with the Rabbi about the incident. “The matter was resolved but we respect his decision to not continue the tour,” a statement from the Saudi Embassy in Washington said.

  • A two-state solution is the only way for Saudi Arabia to recognize Israel: Diplomat

    The top Saudi diplomat, Prince Faisal bin Farhan, has constantly stressed the importance of taking irreversible steps to implement the two-state solution and to recognize the state of Palestine based on the borders of June 4, 1967, with East Jerusalem as its capital. During his State of the Union address on Thursday night, US President Joe Biden repeated previous comments that the only way for Israel to guarantee its security was through a two-state solution. He added: “There is no other path that guarantees peace between Israel and all of its Arab neighbors, including Saudi Arabia.”

  • Saudi Arabia distributes dates in 93 countries

    As part of King Salman’s gift program, Saudi Ministry of Islamic Affairs officials have been coordinating the distribution of dates in 93 countries while organizing iftar banquets in 60 nations. In Bosnia and Herzegovina, Saudi envoy Osama Al-Ahmadi, Bosnian Grand Mufti Husein Kavazovic, and other officials, attended ministry launch programs for the delivery of 10 tonnes of dates to more than 30,000 people during Ramadan.

  • A new perspective on Saudi Arabia’s Vision 2030

    There is a certain amount of confusion among observers about Saudi economic strategy. We can gain clarity on this if we look at the many initiatives of Vision 2030 in the manner that a venture capitalist would look at his portfolio of investments. Doing so, we would see Crown Prince Muhammad bin Salman as placing bets on a large number of sectors, thereby hedging his risks since the economy only needs to win a few of these bets for actual diversification away from oil to take a meaningful step forward.

  • US extends lead on Saudi Arabia, Russia in oil production race

    Adapted from a new Energy Information Administration primer, the above graphic showing the U.S. producing more than any country in history is kind of an ink-blot test. Backers of the U.S. industry see an economic driver that provides global leverage as exports rise too. But climate groups are dismayed by growing fossil fuel development and say it cuts leverage in pushing other countries on energy transition. What's next: Don't expect anyone to catch up in the foreseeable future, EIA notes, because no other country has so much production capacity.

  • India Rises As An Emerging Markets Darling

    Net inflows into exchange-traded funds focused on Indian stocks shattered records in 2023, clocking in at $8.6 billion last year, according to Reuters. India’s NSE Nifty Index surged nearly 20% in 2023, handily outperforming the MSCIMSCI +0.3% emerging markets index’s 7% rise.