“US Treasuries as a portion of total foreign assets held by SAMA, as the Saudi Central Bank is known, rose to almost 35% last month. That puts them at the highest level since February 2020 at the onset of the coronavirus pandemic. The country’s investments in the US government bonds has been rising this year and SAMA now holds $144 billion in US Treasuries even as its total foreign assets has fallen to the lowest since February.” Saudi Arabia’s US Treasury Holdings Hit Highest Since 2020 [Bloomberg]
“The World Cup and World Expo were never in the plan. All of a sudden you wake up and find you have these wins. So, all the money has to go to Riyadh. Anything there is going to happen. It’s the best chance to show their muscle.” Turab Saleem, Saudi hospitality analyst at real estate consultancy Knight Frank, Riyadh hopes to entice private sector to landmark projects [Arabian Gulf Business Insight]
“Through integrating into the passionate, community-driven world of sports, sports partnerships certainly help to strengthen brand loyalty. Sports sponsorship ultimately increases customer engagement, creating a unique, culturally relevant connection and a more memorable brand experience than traditional advertising.” Fazalur Rahman, Regional Marketing Director for Hisense MEA, Is corporate sports sponsorship important? Experts say its a ‘powerful’ strategy [Arabian Business]
“They will be attracted to leave their luxury cars to go and enjoy public transport, because it is world-class standard, high quality and saves time. Five years ago, public transport was seen as something only low-income people would use, but not today. We face in Riyadh the most challenging [traffic]. Congestion is killing productivity.” Khalid Hogail, CEO of Saudi Public Transport Company (SAPTCO), Riyadh Metro aims to break Saudi capital’s car gridlock [Arabian Gulf Business Insight]
“The kingdom has targeted three key areas for investment in Africa: natural resources, renewable energy, and infrastructure. At the third edition of the Future Minerals Forum in January, Saudi Arabia announced plans to invest $15 billion in mining projects globally, focusing heavily on Africa. Agreements with mineral-rich countries like Namibia, Guinea, and the Democratic Republic of Congo exemplify this commitment. Additionally, the PIF’s joint venture, Manara Minerals, expressed interest in acquiring a 30% stake in Zambia’s copper mines.” Can Saudi Arabia Successfully Woo Africa? [International Policy Digest]
“The Saudi Arabians are learning to play the game of sports politics more carefully… Rather than becoming entangled in a hostile takeover, it will look to do things through evolution rather than revolution. It was an outsider looking to enter the global sport industry and taking a position as a disruptor. Now it’s much more part of the orthodoxy, looking to work within existing structures.” Simon Chadwick, Professor of Sport and Geopolitical Economy at Skema Business School in Paris, Saudi Arabia dipping its toes into cricket might be the start of something big [ESPN]
“Trump will need to end the war in Gaza, and to do that you need to address the day after. He will need some focus on the Palestinian track or the regional element won’t work. Saudi Arabia has said bluntly that unless there’s a Palestinian state, normalisation is not an option.” Arab countries unite behind Palestinian cause as they look to Saudi Arabia to moderate Trump [Middle East Monitor]
“The [Saudi] market is very immature at the moment – that isn’t a criticism, it’s just a fact. We aren’t Western Europe, we’re not North America – there’s a lot of catching up to do,” flyadeal CEO Steven Greenway, India Is ‘On Our Radar’ for 2025, Says CEO of Saudi’s Flyadeal [Skift]
“Having been lucky enough to experience first-hand the incredible filmmaking, atmosphere and creativity at the Red Sea International Film Festival in 2022, it’s a privilege to be returning this year as president of the jury. Alongside creating a melting pot for cultures to come together in celebration of our important art-form, it’s vital to continue to platform young and emerging filmmakers who are finding their voice in the industry, and it’s exciting to see first-time directors from across the Arab region, Asia and Africa as part of the competition lineup this year.” Spike Lee, Spike Lee to Head Jury of Saudi Arabia’s Red Sea Film Festival [Variety]
“They are very, very passionate about philosophy in the sense that Arabs believe they saved Western civilization. During the Middle Ages, many of these texts, Greek texts particularly, basically disappeared and the libraries were burned. Many of these texts were located in libraries throughout the Middle East, and the Arabs in a certain sense were able to recuperate and revive and resuscitate ancient Greek tradition. The texts that Thomas Aquinas had available to him wouldn’t be possible without the translators translating. They translated from Greek into Arabic and then ultimately into Latin. So there’s a whole historical continuity between Greek civilization and Arabic civilization in that sense.” Josh Hayes, Associate Professor of Philosophy, Alvernia University, Philosophy professor gets royal welcome in Saudi Arabia [Alvernia University]
