MUST-READS

• Gulf Cooperation Council unveils vision for regional security in Saudi capital

  The vision highlights the coordination of positions among the GCC countries towards regional and international issues and the member states' unified and common positions based on the GCC charter and the principles of international law that govern relations between states. It also emphasizes that, in line with the GCC charter and within the framework of the joint defense agreement, the security of each GCC state is interconnected, especially in light of the instability witnessed by the region and the world.

• Saudi Arabia releases its green finance framework

  Saudi Arabia released its green financing framework (pdf)on Thursday, identifying eight types of green projects to be funded through the sale of the bonds. The framework targets projects focused on renewable energy, energy efficiency, carbon capture and storage, green hydrogen, cutting emissions, sustainable water and wastewater management and climate adaptation measures.

• How Saudi Arabia champions cutting-edge research into unique Red Sea marine environments — blue holes

  In just the first year of a decade-long expedition led by Saudi Arabia’s National Center for Wildlife, 20 extremely deep underwater sinkholes, known as “blue holes,” were discovered along the Kingdom’s southern Red Sea coast. Blue holes, named for their vibrant color, have long been recognized as havens for a diverse array of marine life, attracting researchers eager to study their remarkable biodiversity and leisure divers drawn to their profound natural beauty.

• Ronaldo notches his second hat trick of the season in Saudi Pro League

  Cristiano Ronaldo’s second-half hat trick helped Al-Nassr beat visiting Al-Tai 5-1 in the Saudi Pro League on Saturday. The five-time Ballon d’Or winner has a league-leading 26 goals for the Riyadh club he signed for in December 2022.

• Saudi Arabia seizes a million Captagon pills hidden in melon shipment

  The Authority stated on its official website on Sunday, March 31, that it found the quantity of pills wrapped and hidden inside cavities in melons during an inspection and examination operation of one of the trucks coming through the seaport. After the seizure was completed, the authority coordinated with the General Directorate for Narcotics Control and managed to apprehend the recipients of the shipment within the kingdom.

• Desert X AlUla: A cultural renaissance in Saudi Arabia’s ancient sands

  Produced by The Desert Biennial, a not-for-profit charitable organisation founded in California, the format primarily focuses on recurring international contemporary art exhibitions in desert locations. These locations are often considered challenging and less productive territories due to their timeless inhabitants and diverse yet limited ecosystems. Similar to the land-art movement of the 1960s in the USA, each edition of Desert X delicately intervenes in the desert landscape, paying great respect to its inherent beauty.

• Devotees gather in vast numbers for Ramadan prayers at Prophet’s Mosque in Medina

  Multinational congregations of worshippers throng the mosque every night, filling the designated prayer areas and vast courtyards, creating a powerful scene of devotion.

• Saudi Arabia achieves historic milestone in 2023 with record tourism balance of payments surplus
  Saudi Arabia's tourism sector has marked a historic achievement in 2023, recording the largest balance of payments surplus in its history, as the country continues to develop this key sector and diversify its income sources.
  The Financial Analysis Unit of "Al Eqtisadiyah" newspaper reports that the travel item of the Saudi balance of payments saw an unprecedented surplus of 48 billion riyals last year, fueled by a significant influx of international tourists.

• Saudi Exchange Marks A Milestone With Its 400th Listed Security

  Since its establishment 16 years ago, the Saudi Exchange has quickly grown to become one of the top ten largest in the world, the third largest amongst emerging market peers, and the largest exchange in the MENA region. The Saudi Exchange also consistently ranks in the top ten exchanges globally for IPO proceeds and accounted for over 70% of GCC IPOs in 2023. With a substantial SAR 11.9 billion ($3.2 billion) raised through IPOs on the Main Market in 2023, the Saudi Exchange has firmly established itself as a significant contributor to the global IPO landscape, a key driver of its continued growth in scope and scale. In 2023, furthermore, the Tadawul All Share Index grew by 14.2%, outpacing the 9.8% growth of the benchmark MSCI Emerging Market Index.

• Saudi Arabia’s $1.4bn financing to boost Bangladesh’s energy security

  A recently signed agreement on a Saudi financing loan for the Bangladesh Petroleum Corp. was expected to boost the South Asian economy’s energy security and reduce pressure on its dollar reserves. The International Islamic Trade Finance Corp., a division of the Islamic Development Bank, finalized on March 25 a financing deal with the Bangladeshi government to provide $1.4 billion to the Bangladesh Petroleum Corp.

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