“It’s not just about a financial return, but what does it bring it back? Are you willing to set up in the region and are you willing to transfer technology? We’ve seen a big change in the last couple of years.” Ken Calleja, adviser with Rothschild & Co. who helped lead a transaction late last year in which Saudi Arabia’s Public Investment Fund bought a 49% stake in Rocco Forte Hotels, Middle East Trillions Force New Concessions From Wall Street [Bloomberg]
“Headwinds in the real estate sector and the increasing penetration of LNG trucks and electric vehicles are likely to weigh on diesel and gasoline demand.” OPEC’s report said, OPEC sees the world needing a little less oil than it thought [Quartz]
“The semiconductor industry represents a transformative opportunity for Saudi Arabia’s industrial sector. Our partnership with KACST is pivotal in advancing our capabilities across key semiconductor technology segments, including power, perception, and processing.” Alat CEO, Amit Midha, Saudi Arabia makes significant moves in semiconductor sector with strategic investments [Arab News]
“How can mediation succeed when one party assassinates the negotiator on the other side?” Qatar’s prime minister and top diplomat, Sheikh Mohammed bin Abdulrahman Al Thani. It’s increasingly difficult to see how Qatar can broker a Gaza breakthrough [Defense One]
“Sales of U.S.-made weapons facilitated by the directorate totaled $46.2 billion in fiscal 2024, up from $28.7 billion in fiscal 2023 and an all-time high.” Air Force-facilitated arms export sales reach all-time high [Defense One]
“Saudi Arabia this week opened bids for six football teams as part of its new drive to monetise the kingdom’s sport sector and raise its foreign direct investment numbers. Local and international investors are invited to bid for Al-Okhdood, Al-Orouba and Al-Kholoud – all in Saudi Arabia’s top Pro League – as well as Al-Zulfi, Al-Nahda and Al-Ansar. Applications are open until a deadline of September 19. A negotiation process will then start with the best offers, the Saudi Press Agency (SPA) reported, citing the ministry of sport. A further eight teams will be put up for sale at a later stage.” Investor bids invited for six Saudi football teams [Arabian Gulf Business Insight]
“Aramco will be one of the last standing oil producers after a long transition to renewables and its dividend yield is significantly higher than oil major peers. But, near-term, its growth is hamstrung by Saudi shouldering the burden of OPEC+ output restraint whereas the majors are under no such constraint.”Hasnain Malik, head of equity strategy research at Dubai-based market intelligence firm Tellimer, Saudi Aramco’s Production Policy Is Weighing on Its Stock Price [Oilprice.com]
“Spanning some 800 sq. km from Safwa to Dammam, Qatif governorate is home to over 3,700 farms of which 2,454 are actively producing a variety of crops, reported Saudi Press Agency. The region boasts more than 540,000 fruit-bearing palm trees, representing 30 different types of dates. Annually, the farms contribute 29.5 tonnes of dates to local markets.” Saudi markets receive over 29 tonnes of seasonal produce from Qatif oasis farms [Arab News]
“Saudi Arabia achieved the highest growth rates in both male and female workforce participation among all G20 countries between 2016 and 2021, according to data from the Kingdom’s National Labor Observatory. The statistics reveal a 1.7 percent growth rate for male workers in Saudi Arabia, surpassing Australia’s 1.5 percent and exceeding the rates of other G20 nations. Female workforce growth was even more notable, with a rate of 5.5 percent in Saudi Arabia compared to 2.1 percent in Australia and lower figures in the rest of the G20.” Saudi Arabia ranks 1st among G20 countries in workforce growth rate [Arab News]
“Saudi Arabia will likely invest hundreds of billions of dollars in developing the required infrastructure to host the Fifa World Cup 2034. Experience from previous World Cups, including the most recent one in Qatar, has shown that hosting the tournament can transform a country’s economy.” Yasir Iqbal, Saudi Arabia reveals Fifa World Cup 2034 venue plans [MEED]
