“…Many authors surveyed in this study are increasingly looking at the region from the perspective of alliances based on shared security interests. These interests centre around the issue of Iran and Shiite revolutionary expansionism (the Iran-Iraq-Syria-Hezbollah-Hamas axis), and the rise of the Islamist movements (driven by Qatar and Turkey, and impacting several states in the Middle East and North Africa).”
-Bader Rock and Rami Dajani authored a Tony Blair Institute for Global Change study of “Trends in Media Opinion on Israel in Saudi and Gulf Media.” [Tony Blair Institute for Global Change]
“The fintech sector in Saudi Arabia is largely driven by young, first generation entrepreneurs who are competing with the largest financial institutions in an extremely tough and price-conscious market.”
-Fintech Saudi’s annual report assesses the progress of the fintech industry in Saudi Arabia over the last year. [Fintech Saudi]
“Any Arab state that is considering following the UAE should demand in return a price, and it should be an expensive price…The Kingdom of Saudi Arabia has set a price for concluding peace between Israel and the Arabs – it is the creation of a sovereign Palestinian state with Jerusalem as capital, as provided for by the initiative of the late King Abdullah.”
-Prince Turki Al-Faisal, writing in the Saudi newspaper Asharq al-Awsat. Prince Turki also voiced understanding for the UAE’s decision, according to Reuters, noting that Riyadh’s close ally had secured a key condition – a halt to Israeli annexation plans. [Reuters]
“While the production of ammonia has many uses—including fertilisers, cleaning products and in manufacturing—perhaps its greatest appeal lies in the ease in which it can be transported over long distances and green hydrogen re-extracted.”
-Ian Simm, writing for Petroleum Economist, analyzes Neom’s recent $5b deal with Acwa Power and U.S.-based Air Products to build the world’s largest hydrogen project. Simm details the cutting edge nature of the project and it’s many renewable energy advantages. [Petroleum Economist]
“It’s very obvious how much impact Fintech has had on the e-commerce industry in the region due to the spread of payment options. Micro-investing and funding is also accelerating due to the ease of reach by new Fintech startups. It’s going to be a very bright future for the new generation I bet.”
-Haitham Bu-Aisha, founding partner at Vision Ventures, speaks with Omar Faidi for CrowdFund Insider. Bu-Aisha added that 6 out of 38 startups in his firm’s technology portfolio are Fintechs and that just five years ago, it would have been “a dream” to launch any business with financial services that were not offered by traditional service providers. [CrowdFund Insider]
“Many assets are already stranded from an oil-price cycle perspective. But when you then add the carbon curve, that takes a bigger chunk out.”
-Christyan Malek, head of EMEA oil and gas research at JPMorgan Chase & Co., comments on the economics of oil exploration in an article by Laura Hurst for Bloomberg Green. [Bloomberg]
“Historically and up until the 1960s, when the majority of the population was nomadic or seminomadic, women were an integral part of the workforce on the Arabian Peninsula.”
–Karolen Eid, Maha Fallatah, and Makio Yamada, writing for the King Faisal Center for Research and Islamic Studies, examine the heritage of women’s participation in the Saudi workforce; why it declined and is now surging. [King Faisal Center for Research and Islamic Studies]
“Data is the single most important driver of our growth and reform and we have a clear roadmap for transforming Saudi Arabia into a leading AI and data-driven economy.”
-Dr Abdullah bin Sharaf Al Ghamdi, President of the Saudi Data and Artificial Intelligence Authority, which is establishing a national data bank to consolidate more than 80 government datasets and also planning to build one of the largest clouds in the region by merging 83 data centers owned by more than 40 government bodies. [Global Government Forum]
“As I look at the theater, we remain focused on Iran as our central problem. This headquarters focuses on Iran, executing deterrence activities against Iran, and doing those things.”
Gen. Kenneth McKenzie, U.S. Central Command head, speaking at a U.S. Institute for Peace event.
“Globally we understand that environmental, social or governance (ESG) funds are becoming an investment requirement, and we don’t want to be behind on this in the Saudi market.”
-Khalid Al-Hussan, CEO of the Saudi Stock Market, on the announcement that the Tadawul plans to launch an ESG index in cooperation with global index provider MSCI by the fourth quarter of this year or first quarter of 2021. [Reuters]
