“Suppliers in the Middle East will find themselves competing with producers in Asia, and particularly China, as exports are redirected from the US to other markets, increasing competition in the region.” Kaye Ayub, head of price analysis at the UK steel market insights company MEPS International, What Trump’s steel tariffs mean to the Middle East [Arabian Gulf Business Insight]
“The Kingdom also points out that this extremist, occupying mentality does not understand what the Palestinian land means to the brotherly people of Palestine and their emotional, historical and legal connection to this land, and it does not think that the Palestinian people deserve to live in the first place, as it has completely destroyed the Gaza Strip, killed and injured more than 160,000, most of them children and women, without the slightest human feeling or moral responsibility,” Saudi Foreign Ministry statement, Saudi Arabia reiterates rejection of Israeli comments on displacement of Palestinians from their land [Arab News]
“Since its founding, SVC has backed 54 funds that have invested in over 800 startups and small and medium enterprises (SMEs) across vital sectors, including e-commerce, fintech, healthcare, education technology (edtech), transport, and logistics.” Saudi Arabia’s Billion-Dollar VC Boom: How SVC Is Shaping The Kingdom’s Financial Future [Forbes]
“They are not a US vassal state and so they’re not just taking a diktat from Trump. And I think it will stand firm on their positions, willing to negotiate here and there. But the principal red lines remain.” Andreas Krieg of King’s College London, Trump’s Gaza plan derails Saudi-Israel ties: analysts [AFP]
“Trump’s comments – delivered throughout the day, first at an executive action signing ceremony, and later alongside Netanyahu in the Oval Office and at a joint news conference – were a landmark moment in the history of US peacemaking in the Middle East.” Trump’s Gaza ‘Riviera’ plan is the most outlandish idea in the history of US Middle East peacemaking [CNN]
“Sectors most vulnerable to this trade war include construction, real estate, and manufacturing. Many GCC nations are investing heavily in infrastructure projects as part of their Vision 2030 initiatives. Rising material costs could hinder progress; Saudi Arabia’s ambitious NEOM project, for instance, may face delays or budget overruns due to increased raw material costs driven by US tariffs.” Will GCC get caught in a global trade war crossfire? [Khaleej Times]
“The Saudi stock exchange has become a preferred listing destination due to strong liquidity, robust demand from institutional investors, and alignment with global investment standards. Moreover, the IPO landscape is no longer oil-centric, with fintech, healthcare, and retail companies successfully listing—indicating broader investor appetite.” Farah el Nahlawi, research lead at MAGNiTT, a leading venture capital data platform for emerging markets, Saudi Arabia’s IPO Boom Reshapes Its Market Dynamics [Global Finance]
‘The kingdom has flipped the non-oil sector’s contribution to GDP to slightly over half the economy for the first time, up from 46% before the plan was announced in 2016. “The job is not done,” Saudi Minister of Economy and Planning Faisal Alibrahim said, “It’s on track. It’s gaining momentum.” Saudi seeks foreign capital to build global, competitive industries [Semafor]
“It’s not about just building another city that houses people. It [has] to be themed, and it has to have a purpose. When we talk about the vision of Neom, if you look at it, it is about being the land of the future. It’s about building an economy for 100 plus years, which is driven by the sectors.” Denis Hickey, NEOM Chief Development Officer, Neom provides major update on Saudi gigaproject including 100-year timeframe for the Line [New Civil Engineer]
