MUST-READS

• KAUST leads efforts to kickstart an innovative cement industry in Saudi Arabia
  As part of efforts to support the Kingdom in diversifying the Saudi economy and creating innovative new industries, KAUST has announced the Future Cement Initiative (FCI) to guide cement manufacturing. KAUST, the Ministry of Industries and Mineral Resources, and the National Committee of Cement Companies form the core group of founding partners of the FCI. Saudi Arabia’s industrial sectors have surged by 60% over recent years, reflecting the country’s efforts to diversify its economy and position itself as a global manufacturing power. Many of these projects are cement intensive, and a primary goal of the FCI aims to improve the economic and environmental competitiveness of cement manufacturing in Saudi Arabia through the development of cost-effective approaches and innovative technologies. In turn, this will position Saudi Arabia as a leader in the Middle East region’s cement industry.

• Riyadh Air, Saudi Arabia’s ambitious new airline, just suffered a big setback

  In 2023, Riyadh Air announced it had ordered 39 Boeing 787-9 Dreamliners, with options for 33 more. The airline had expected to take delivery of eight such aircraft this year, but now expected to get just four, Bloomberg reported. As a result, Riyadh Air has pushed its planned launch back from early 2025 to the third quarter.  "We have obviously pivoted like everybody else has on a number of occasions to be able to adjust to the latest forecast," CEO Tony Douglas told the outlet. "I am confident, given the latest forecast, that we'll get deliveries this year," he added. "Is it completely without risk? Obviously no, it's not." Boeing said in a statement: "We continue to work closely with Riyadh Air on their delivery schedule and look forward to supporting Riyadh's inaugural operations."

• Energy Minister: Saudi aims to extract every ounce of its resources

  Minister of Energy Prince Abdulaziz bin Salman said energy security, affordability, and sustainability depend on urgent, collective, and comprehensive efforts to address the challenges of critical minerals. In his speech at the Future Minerals Forum, the minister said Saudi Arabia is determined to extract every ounce, gram, particle, atom, and electron of its resources. "This is my cause, and I am its advocate. I firmly believe in it," the minister confirmed.

• LIV Golf announces multiyear media rights deal with Fox Sports

  LIV Golf announced a multiyear media rights agreement with Fox Sports to broadcast the pro golf tour to U.S. viewers, starting in February. The tour’s 14-tournament season will air on Fox, FS1 and other Fox networks, and will also stream on the Fox Sports and LIV Golf+ apps. The LIV Golf League features 13 teams of four golfers each, including two-time major champions Jon Rahm and Bryson DeChambeau. The news comes a day after the Saudi-financed sports organization named Scott O’Neil, the former CEO of Merlin Entertainments and Harris Blitzer Sports & Entertainment, as its new CEO. He replaces Greg Norman, the tour’s first commissioner and CEO, who will remain informally involved with LIV. LIV Golf was previously broadcasted on the Nexstar Media Group-operated CW Network. The upstart golf league struggled to bring in big audiences on The CW.

  • Fox Sports - FOX Sports, LIV Golf announce multiyear media rights agreement
• LIV Golf seeks ‘new heights’ with FOX Sports deal

  LIV Golf and FOX Sports have entered into a multi-year media rights partnership to broadcast LIV Golf tournaments across the US. Starting in February, the deal ensures all three days of LIV Golf events will be aired on FOX networks, with over half the season’s schedule featured on FOX or FS1. Additional rounds will be shown on FS2, FOX Business Network, and the FOX Sports App. Altogether, nearly 210 hours of competition will be broadcast live on FOX Sports platforms and the LIV Golf+ app. The broadcasts will retain LIV Golf’s unique production style, including an in-house team, advanced drone footage, statistics-focused graphics, and fast-paced coverage to deliver almost double the number of shots per hour compared to traditional golf broadcasts.

• Saudi economy expected to grow 3.3% in 2025: IMF

  Saudi Arabia’s economy is expected to grow by 3.3% and 4.1% in 2025 and 2026, respectively, a new report released by the International Monetary Fund (IMF) showed. The fund raised the 2025 growth forecasts from 4.6% previously in October due to extending the OPEC+ output reduction agreement. The IMF cut its growth forecast for the Middle East and North Africa this year, largely reflecting lower expectations for Saudi Arabia's economic growth to 1.3% in 2025, compared to previous estimates.

• Why Saudi Arabia is so keen on the Turkish KAAN

  The KAAN is a Turkish fifth-generation, multi-role, stealth fighter aircraft developed by the Turkish Aerospace Industries (TAI) and BAE Systems, which is based in London. The project to develop the aircraft began in 2010, with the aim of replacing Turkey’s aging F-16 fleet and boosting Turkey’s autonomy, self-dependency, and overall military and national power. The urgency to develop this aircraft increased after Turkey was removed from the F-35 program in 2019. The KAAN made its maiden flight in February 2024. Riyadh has expressed interest in acquiring F-35 fighter jets since 2017; however, the United States has not committed to the sale, and the situation has been prolonged. Riyadh is likely also feeling unsure about its ability to secure an F-35 deal considering the experiences of its neighbors.

• Mining sector faces challenges to secure critical minerals: Expert

  The global mining sector is facing major challenges in securing critical minerals that are required for energy transition. Saudi Arabia has strong potential to become a global hub in this field, Peter Bryant, Board Chair of Clareo, told Argaam on the sidelines of the Future Minerals Forum. The challenges encompass various technical, commercial, and social aspects, including technical challenges such as low-quality ores, increasing mining depths, high water and energy consumption in operations, and complexities in waste management. He noted that commercial challenges include a lack of investments, emphasizing that the world requires $1 trillion in investments to meet the demand for metals by 2030, while current investments range only between $20 billion and $30 billion annually.

• Saudi Founding Day 2025: Everything you need to know

  Saudi Founding Day is a few weeks away – and we’re already excited for the first Saudi public holiday of 2025. On Saturday February 22, the nation will come together to celebrate the founding of the First Saudi State in Diriyah in 1727. Introduced in 2022, Saudi Founding Day has become the first Saudi public holiday of each year, with both public and private sector workers getting a day off. As this year’s public holiday falls on a weekend, stay tuned for official announcements as to whether Sunday February 23 could be a day off, too with all full guide to key dates in 2025.

• Saudi boxing powerbroker lowering PPV prices amid efforts to combat piracy, grow sport

  Saudi Arabian power broker Turki Alalshikh is working to lower PPV prices around boxing to bring in more buyers and combat piracy, and promoter Eddie Hearn says he’s a supporter of the move. There’s long been a debate within boxing about whether the price of PPVs has gotten too exorbitant, with fights in the U.S. often being being priced around $80 in recent years. But as Alalshikh has become the de facto most powerful person in boxing over the last year, he’s looked into making PPV units more affordable. He appears to be following through on his plan, as multiple fights in recent months have had a PPV price between $20-60 in the U.S. Alalshikh is aligned with DAZN, which is reportedly in advanced talks to receive a major investment from Saudi Arabia’s SURJ Sports Investment Co.

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