MUST-READS

• Saudi minister says energy transition behind Aramco capacity halt

  Saudi Arabia decided to halt its oil capacity expansion plans because of the energy transition, its energy minister said on Monday, adding that the kingdom has plenty of spare capacity to cushion the oil market. The Saudi government on Jan. 30 ordered state oil company Aramco (2222.SE), opens new tab to halt its oil expansion plan and to target a maximum sustained production capacity of 12 million barrels per day (bpd), 1 million bpd below a target announced in 2020, which was set to be reached in 2027.

• Saudi Arabia’s first college of arts launched in Riyadh

  In a strategic partnership with King Saud University in Riyadh, the Ministry of Culture has inaugurated the university's College of Arts, marking the first Saudi institution dedicated to arts education in the Kingdom. The launch ceremony, held at the university's theater on Sunday, was attended by Deputy Minister of Culture Hamed Fayez, University President Dr. Badran Al-Omar, and various cultural and arts enthusiasts from across the Kingdom.

• Saudi Arabia accelerates digital economy growth through Nvidia partnership

  The Kingdom’s Minister of Communications and Information Technology Abdullah Al-Swaha's meeting with Nvidia CEO Jensen Huang aims to support and strengthen the region’s digital economy, particularly in Saudi Arabia, recognized as the largest market for technical innovation in the Middle East and North Africa.

• Saudi Sports for All Federation Welcomes More Than 20,000 Participants for 2024 Riyadh Marathon

  More than 20,000 participants from 125 countries, including a record 60% Saudi nationals, took part in the third edition of the Riyadh Marathon on February 10 – an increase of more than 33%, with 15,000 runners in 2023.

• Swiss national wins $1 million in Riyadh Season Treasure Hunt

  Swiss contestant Stephanie Weil claimed a $1 million prize, equivalent to SR3.75 million, in the final competition of the Riyadh Season Treasure Hunt, held at Boulevard City. The contest saw thousands of participants from around the globe competing since its inception, with ten finalists selected to partake in the ultimate showdown.

• Saudi crackdown nets 18,901 illegals in a week during raids on residency and labour law violators

  Saudi Arabia arrested 18,901 individuals during raids across the kingdom in the first week of February. The Ministry of Interior said the arrests included 11,419 violators of the Residency Law, 4,533 violators of the Border Security Law and 2,949 violators of the Labour Law, as part of the joint field security campaigns executed by security forces and relevant government agencies from February 1 to 7.

• Registration for Hajj opens for domestic pilgrims

  The Saudi Ministry of Hajj and Umrah has announced the beginning of registration and the fee structure of four packages for the domestic pilgrims for the Hajj of 2024. There will be four packages with charges ranging between SR4,099 and SR13,265.

• Unleashing Young Saudi Potential: A Dive into Mohammed Bin Salman Nonprofit City

  Imagine 8 million annual visitors, 25,000 employees, and nearly 18,000 residents shaping the city's dynamic spirit. Picture 6,000 apartments and 500 villas housing families and individuals drawn to this unique opportunity. With a 20-minute drive to downtown Riyadh, the city seamlessly integrates into the wider fabric of Saudi Arabia, fostering collaboration and exchange.

• Yemen to receive second $250 million tranche of Saudi grant soon, central-bank governor says

  Yemen will receive a second $250 million instalment from a Saudi one-year $1 billion grant on Sunday or Monday to support salary payments, its central bank governor told Reuters. Ahmed bin Ahmed Ghaleb Al-Maabqi said the remaining $500 million of the grant, from which the first $250 million was paid out last August, has yet to be transferred to the bank, based in the southern port of Aden. The bank supports the Saudi-backed government as it struggles with a weak currency and high fuel and commodity prices.

• Netanyahu insists on Rafah offensive as warnings mount

  Israel is facing growing international warnings over its planned offensive in Rafah - the city in southern Gaza crammed with Palestinian refugees. Prime Minister Benjamin Netanyahu said the Israeli military will go ahead with its planned ground offensive, insisting an evacuation plan is being prepared. UK Foreign Secretary David Cameron said "over half of Gaza's population are sheltering in the area". Saudi Arabia warned of "very serious repercussions" if Rafah was stormed.

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