“Saudi contemporary art often weaves traditional motifs, cultural heritage, and Islamic aesthetics with modern techniques and global themes. This blending creates a distinctive style that honors our roots while embracing the future. It’s a reflection of Saudi Arabia’s transformation—a dynamic interplay of preservation and innovation.” Saudi Arabian collector Basma Al Sulaiman, Collector Basma Al Sulaiman on the Future of the Saudi Art Market: ‘We Are Not Just Consumers’ [artnet]
“The BCG report reveals a robust outlook for GCC trade, with total trade volume set to reach 2.3T USD by 2033. This growth is supported by significant expansion across multiple trade corridors, with China emerging as the largest growth market at 88B USD (5.7% CAGR), followed by Japan at 46B USD (9.4% CAGR). The analysis shows GCC’s non-hydrocarbon trade will grow by 3.5% annually, highlighting the region’s successful economic diversification efforts.” GCC trade set to grow 5.5% annually through 2033, with total trade volume reaching $2.3trln, BCG report finds [Zawya]
“Given total exports of the industry are about $7 billion annually, $6 billion would be a significant amount for a deal,” said Anil Ulas Koseoglu, an analyst at Istanbul-based Is Investment, Turkey Aims for $6 Billion Weapons Deal With Saudi Arabia [Yahoo]
“Even though there’s the stigma, you still see a lot of amazing women doing what they want in the sports field. You find weightlifters, triathletes – if you want to do it you can do it, nothing is stopping you.” Leila Zahid, Saudi surfer, An Inside Look at Saudi Arabia’s Fledgling Surf Scene [Surfer]
“But I’ll be asking the Crown Prince, who’s a fantastic guy, to round it out to around 1 trillion. I think they’ll do that, because we’ve been very good to them.” Donald Trump, Trump says he’ll ask Saudi Arabia to ‘round out’ investment pledge in U.S. to $1 trillion [CNBC]
“It’s clear today that the strong comeback for nuclear energy that the IEA predicted several years ago is well underway, with nuclear set to generate a record level of electricity in 2025,” said IEA Executive Director Fatih Birol. A new era for nuclear energy beckons as projects, policies and investments increase [IEA]
“Saudi issuers, including the government, have raised more than $130 billion in U.S. dollar-denominated issuances over the past five years. This comes on top of the $144 billion that they raised locally in Saudi riyal during the same period, with the implementation of Saudi Vision 2030 explaining part of this flurry. While the government accounts for around 60% of these issuances, Saudi Vision 2030 has also created significant opportunities in the non-oil economy and the banking system.” Saudi Capital Market Brief: Rising Issuance Levels Are Just The Start [S&P Global]
“The regional findings reveal strong confidence amongst CEOs in their companies’ revenue growth, with those in the GCC particularly optimistic about revenue growth in 2025 (at 90%). 61% of GCC CEOs also expect to increase headcount this year, compared to just 42% of their global peers, and up from 55% in 2024. However, one third (34%) cited skills shortages as a major concern.” 90% of GCC CEOs confident of revenue growth in 2025: PwC’s 28th Annual CEO Survey [PwC Middle East]
“This is a clash between an ambitious young man who realizes the world is changing and an elderly cleric clinging to an outdated ideology that brought him to power.” Mustafa Fahs, a Beirut-based commentator who hails from a clerical family critical of the Islamic Republic, referring to the Saudi crown prince and Iran’s supreme leader Ayatollah Ali Khamenei, Saudi Crown Prince MBS Moves to Exploit Vacuum Left By Iran [MSN]
“Property prices in Riyadh have surged since the pandemic, with the cost of a house now almost 81 per cent higher than in 2020…Apartment prices in the city have increased 56 per cent over the same period… At the moment, 63 per cent of Saudis own their own home, up from 47 per cent in 2016… But the figure in Riyadh, where 4.4mn of 18.8mn Saudis live, is far lower at 53.2 per cent, according to the latest census data, taken from 2022.” Ahmed Al Omran, Riyadh’s property boom puts home ownership beyond reach of many Saudis [Financial Times]
