MUST-READS

• Iran’s Rise as Global Arms Supplier Vexes U.S. and Its Allies

  Iran’s arms industry is growing rapidly, turning the country into a large-scale exporter of low-cost, high-tech weapons whose clients are vexing the U.S. and its partners in the Middle East, Ukraine and beyond. The transformation of the industry, accelerated by Russia’s 2022 purchase of thousands of drones that altered the battlefield in Ukraine, has helped Tehran scale up its support of militia allies in Middle East conflicts that have intensified alongside Israel’s war with Hamas in Gaza. One of Iran’s top arms exports, a Shahed suicide drone, designed to carry explosives and crash into its target, was used to kill three American servicemembers in Jordan in an attack by an Iraqi militia group on Jan. 28, U.S. officials said.

• The $2.8 Billion Hole in U.S. Sanctions on Iran

  For months, as Iran-backed groups attacked U.S. forces and allies in the Middle East, the Biden administration hailed its efforts to restrict Iran’s oil revenue — and the country’s ability to fund proxy militias. The Treasury secretary told Congress that her teams were “doing everything that they possibly can to crack down” on illegal shipments, and a senior White House adviser said that “extreme sanctions” had effectively stalled Iran’s energy sector. But the sanctions failed to stop oil worth billions of dollars from leaving Iran over the past year, a New York Times investigation has found, revealing a significant gap in U.S. oversight.

• ‘Within Sand’: First Saudi film shot in NEOM to hit cinemas across the Kingdom on Feb. 15

  Directed by Mohammed Al-Atawi, the film features an all-Saudi cast and tells a tale of survival and self-discovery. It follows Snam, a 23-year-old tobacco merchant, portrayed by newcomer Raed Alshammari, on his journey across the desert. After being ambushed and left for dead, Snam’s quest to reunite with his pregnant wife turns into a harrowing fight for survival. Snam travels with a wolf trailing him while he struggles on his journey.

• Saudi Arabia launches $373 million road projects in Makkah

  The Makkah region in Saudi Arabia has embarked on a significant infrastructure development initiative with the launch of 20 road projects worth SAR1.4 billion ($373 million). With a total length of 385km, the projects aim to enhance connectivity and facilitate travel within the region. Led by Prince Saud bin Mishaal bin Abdulaziz Al Saud, Deputy Prince of Makkah, the projects underscore the government’s commitment to modernizing transportation networks and supporting the needs of pilgrims visiting the holy cities of Makkah and Madinah.

• AlUla’s Wadi AlFann, Valley of the Arts, presents two exhibitions by Saudi artist Manal AlDowayan 

  The work of Manal AlDowayan, one of Saudi Arabia’s leading contemporary artists, is often focused on cultural metamorphosis, collective narratives and the representation of women, particularly from her home country.  AlDowayan, who will represent the Kingdom at this year’s Venice Biennale, is currently the subject of two exhibitions in AlUla as part of the pre-opening program of Wadi AlFann, a major new cultural destination for art, design and performance.  

• Saudi Arabia launches new investment fund to enhance quality of Arabic film content

  Saudi Arabia’s General Entertainment Authority (GEA) has announced a new investment fund that will focus on improving the quality of films while strengthening production values, distribution, and filmmaking. The Big Time investment fund will also feature the kingdom’s Ministry of Culture as a co-sponsor, along with contributions from various companies specialised in the field of filmmaking and production, a press release said, without disclosing the value of the fund.

• WWE Officially Opens WWE Experience in Saudi Arabia

  Wrestling enthusiasts and casual fans alike can now dive headfirst into the exhilarating world of WWE at the inaugural WWE Experience in Boulevard City, part of Riyadh Season's entertainment zones. The immersive journey promises an unparalleled encounter with the rich history, heart-pounding action, and legendary Superstars that define the wrestling phenomenon. WWE announced that it was officially open today in a series of emails and announcements on social media. Triple H himself provided a sneak peek into the extravaganza through a tweet, inviting fans to witness the grandeur of the WWE Super Dome. "Starting tomorrow, all of the sights, sounds & excitement of a WWE live event will be here to give you goosebumps year-round," he exclaimed on Thursday, underlining the significance of this groundbreaking venture.

• Saudi Arabia: Acwa Power obtains $3.4 billion in financing to build solar plants

  The Saudi group Acwa Power, supported by the Saudi Arabian Public Investment Fund (PIF), has obtained financing from a consortium of banks that will allow it to advance the construction of solar plants worth 3,4 billion dollars in the whole country. The company has obtained an $8,6 billion credit line from local, regional and international institutions, including Saudi Awwal Bank, Banque Saudi Fransi and Mizuho Bank, according to filings on the Kingdom Stock Exchange. The consortium also includes Riyad Bank, Saudi National Bank, Standard Chartered Bank and HSBC.

• Saudi Arabia’s NEOM and MDLBEAST to open mega beach club on luxury Sindalah island

  NEOM has announced the newly-launched Sindalah Beach Club which will offer “year-round premium experiences to a diverse range of audiences brought together by their love of music and culture”, featuring world-famous musicians and DJs.

• Report: Saudi Arabia’s strategic maneuvers in the face of the Red Sea shipping crisis

  In the midst of escalating shipping disruptions in the Red Sea, a new report has shed light on Saudi Arabia’s Aramco circumventing the Houthi-led crisis, showcasing the oil giant’s resilience and strategic advantage. Saudi Aramco’s ability to bypass the Bab el Mandeb Strait via its East-West Petroline provides a significant competitive advantage over regional competitors, according to a report by Kpler, which specializes in commodities market data and analytics solutions.

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