MUST-READS

• Saudi Arabia to Establish Marketing Tourism Offices

  The Saudi Tourism Authority has set 24 plans that place Saudi Arabia as a top tourist destination on the local, regional, and global levels. Last week, the Council of Ministers, headed by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz, approved the regulations of the Saudi Tourism Authority to play a crucial role in promoting Saudi Arabia as a top tourist destination on both regional and international levels.

• Saudi Arabia’s Sovereign Wealth Fund (PIF) to Deploy $70 Billion a Year

  The Public Investment Fund, or PIF, currently puts $40 billion to $50 billion of capital to work on an annual basis, and that’s set to increase after 2025, the fund’s governor, Yasir Bin Othman Al-Rumayyan, said Thursday at the FII Priority conference in Miami.

• Saudi Wealth Fund Pitches Mohammed Bin Salman’s Kingdom As AI Hub Outside US: ‘We Are Fairly Well Positioned’

  In a recent development, Yasir Al-Rumayyan, the head of Saudi Arabia’s Public Investment Fund (PIF), is positioning Mohammed bin Salman‘s kingdom as a potential hub for artificial intelligence (AI) activities outside the U.S.

• Two years on, what the Russian invasion of Ukraine means for energy security and net-zero emissions

  Russia’s full-scale invasion of Ukraine on February 24, 2022 has reverberated throughout the global energy landscape, significantly impacting both energy security and the ongoing transition towards sustainable energy sources. Swift action is needed to mitigate risks, strengthen resilience, and ensure that energy remains a driver of stability and prosperity in the face of geopolitical uncertainty. Our experts share their insights on the second anniversary of the war.

• Water Challenges in the Emerging Hydrogen Economy

  Global shifts have revitalized the move toward hydrogen as an energy source. However, discussions often center on cost and technical barriers, neglecting critical questions regarding water as a feedstock in hydrogen production.

• Analysis: How Israel’s war went wrong

  For quite some time after the war began, Israel refused to even conceive of a postwar plan. Some sources told me that preparations are getting underway, but there are still no firm conclusions nor any clear route to them. Netanyahu has publicly rejected an American proposal to place the Palestinian Authority (PA), led by the moderate Fatah faction based in the West Bank, in charge of Gaza after the war. He has offered no alternative in its place. Without a postwar plan, Israel risks something worse than failing to defeat Hamas: bolstering it.

• Israel hits Gaza’s Rafah; Hamas chief’s trip raises truce hopes

  Israeli bombs on Rafah flattened a mosque and destroyed homes in what residents called one of their worst nights yet, while the Hamas chief was in Cairo for talks Gazans hope could bring a truce in time to head off a full-blown assault on the city. Mourners wept over at least seven corpses in body bags, laid out on cobbles outside a morgue in the city hard against the Egyptian border, where over half of the Palestinian enclave's 2.3 million people are now huddling, mostly in tents.

• Saudi Foreign Minister calls for G20 action on Gaza

  Saudi Foreign Minister Prince Faisal bin Farhan has urged G20 countries to exert pressure for meaningful actions to end the war in Gaza and support a credible, irreversible path towards a two-state solution. The Saudi minister participated in the first session of the G20 Foreign Ministers' Meeting, held in Rio de Janeiro, Brazil, under the theme “The G20's Role in Addressing Ongoing International Tensions.” Prince Faisal congratulated Brazilian Foreign Minister Mauro Vieira on Brazil's assumption of the G20 presidency for 2024. In his speech, the minister stated that the escalation and spread of global conflicts have put pressure on international cooperation and weakened the credibility and trust in the multilateral framework.

• Saudi Media Ministry and Google partner for digital shift

  The Ministry of Media in Saudi Arabia and Google have announced a strategic collaboration to support the digital transformation of the media sector in the Kingdom. The announcement, which was made during the 3rd Saudi Media Forum, coincided with the declaration of Minister of Media Salman Al-Dosary that 2024 is the year of media transformation in Saudi.

• Saudi Wealth Fund Plans to Buy Binladin Stake Amid Building Boom

  Saudi Arabia’s sovereign wealth fund is seeking to acquire a stake in the kingdom’s biggest construction conglomerate as it leans on local firms to build key mega-projects and infrastructure needed to host showcase events such as the World Expo. The Public Investment Fund is working with Morgan Stanley on a potential deal to buy into Saudi Binladin Group, according to people with knowledge of the matter. The PIF, as the $700 billion wealth fund is known, is considering acquiring part or all of the 36% stake owned by the ministry of finance, the people said, asking not to be identified because the discussions are private.

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