“The number of individual investment portfolios in the Saudi main stock market achieved a year-on-year growth of approximately 12 percent in the third quarter of 2024, reaching 12,755,615 investment portfolios. This figure records an increase of more than 1.32 million investment portfolios, compared to the same period in 2023, when it stood at 11,434,692 investment portfolios, according to the quarterly statistical bulletin issued by the Capital Market Authority.” Individual investment portfolios in Saudi stock market grows 12% in 3Q 2024 [Zawya]
“Seafarers who over the centuries fell victim to the crosscurrents, unpredictable winds, reefs and shoals in this stretch of water at the entrance to the Red Sea named it the Bab el-Mandeb—Arabic for the “Gate of Tears.” The Six Choke Points That Can Upend Global Trade [Bloomberg]
“We admire the development in Gulf countries, particularly Saudi Arabia’s bold plans and vision, and we aspire to achieve similar progress for Syria. There are many opportunities for cooperation, especially in economic and developmental areas, where we can align our goals.” Ahmed Al-Sharaa, head of the new Syrian administration, Saudi delegation led by Royal Court advisor meets with Syria’s Al-Sharaa [Arab News]
“The work that we’ve done on putting in place the elements of that deal, including what we and Saudi Arabia would do together, what they would do with Israel, all of that is now there… My hope is we’ll move as far as we can, but it won’t be complete… But we’ll be able to hand it over, and then the next administration can decide how it wants to proceed.” US Secretary of State Antony Blinken, Blinken hopes Trump picks up work on Saudi-Israel deal [Al-Monitor]
“Cruise Saudi’s new ship is the 1,099-foot-long Aroya, boasting 1,678 cabins and carrying up to 3,362 passengers. In terms of length it is only slightly shorter than Royal Caribbean International’s Icon- and Oasis-class ships which are the biggest at sea and have roughly double Aroya’s capacity (at 6,700 to 7,600 passengers).” Biggest Retail Footprint At Sea Opens On Saudi Arabian Cruise Ship [Forbes]
“This move means less reliance on experts from abroad in key fields like finance, project management and cybersecurity. Essentially, it’s about creating more jobs for Saudis in important, well-paying sectors and making sure they’re trained for these roles.” Azeem Zainulbhai, co-founder and chief product officer at talent-on-demand platform Outsized, Saudi Arabia’s localization plan is reshaping consultancy sector – and more beyond [Consulting Point]
“The Kingdom has connected 6.2 GW of renewable energy to its grid, with 20 GW of projects launched this year and 44.2 GW under development—enough to supply 7+ million homes with clean electricity.” Saudi Green Initiative 2024 forum, gallery, and talks conclude with impactful outcomes [Zawya]
“As the largest automotive market in the Middle East and North Africa (MENA) region, Saudi Arabia accounts for almost half of the region’s car sales, with over 600,000 new vehicles registered annually. The market is diverse, with Asian manufacturers such as Toyota and Hyundai leading the passenger car market, while brands like Mercedes-Benz and Audi dominate the luxury segment. Pickup trucks and SUVs remain highly popular, driven by social preferences and the country’s vast road network.” Salma Saleh, Automotive industry in Saudi Arabia- statistics & facts [Statista]
“Board members in Saudi Arabia are aligned with their global peers on spending more time on emerging technologies, including artificial intelligence (AI) and its little brother, generative AI. This does not come as no surprise, following the explosive trend of adopting AI that is being seen in a wide range of industries. In fact, a previous study found that generative AI technologies could add up to $24 billion to Saudi Arabia’s GDP by the year 2030.” Study: Saudi management boards increasingly diverse in their make-up [Consultancy-me]
