Quoted

“The Saudis have been very clear: That would require calm in Gaza, and it will require a credible pathway to a Palestinian state. And it may well be, as you said, that in this moment, Israel is not able or willing to proceed down that pathway.” US Secretary of State Antony Blinken, Blinken: Israel ‘may not be willing’ to accept Palestinian statehood for Saudi normalization [The National]

Quoted

“The percentage of people practicing sports in the country has increased from 13 percent in 2015 to more than 48 percent in 2022.” Abdulaziz al-Baqous, director of corporate communications and international relations at the Saudi Olympic Committee, Saudi Arabia says would rather develop homegrown talent than recruit foreign athletes [Al-Arabiya]

Quoted

“It’s true that this country is very conservative but we tried to show elegant swimsuits which represent the Arab world.” Moroccan designer Yasmina Qanzal, Saudi Arabia stages ‘historic’ first swimwear fashion show [MSN]

Quoted

“The comprehensive partnership framework encapsulated in the roadmap extends to various domains such as clean energy production, Carbon Capture, Utilization and Storage (CCUS) technologies, and clean cooking solutions, among others. It also opens avenues for future cooperation in additional areas, aligning with each country’s policies, laws, and international obligations.” Saudi Arabia, US forge new pathways in energy cooperation with roadmap [Saudi Gazette]

Quoted

“KSA has also made several high-profile investments through its sovereign wealth fund, the Public Investment Fund (“PIF”). In 2023, PIF and Saudi Electricity Company established a 75%/25% owned joint venture, the Electric Vehicle Infrastructure Company (“EVIQ”). EVIQ intends to install 5,000+ fast chargers by 2030 in over 1,000 locations across KSA. It also aims to promote private sector participation in the development of this network and support the localisation of research, development, and manufacturing of technologically advanced materials.” The Future of EV Charging: Spotlight on the UAE and Saudi Arabia, [Watson, Farley & Williams]

Quoted

“Jadaan has been very smart in the way he has handled the hiccups facing the Saudi gigaprojects. He doesn’t deny any problems in maintaining funding lines. He turns it around as a positive that allows for reassessing and streamlining them. It’s the best answer. In any case, no one ever took seriously the idea that they would all be ready by 2030.” ,” Andrew Hammond, Middle East historian at Oxford University, Dubai Advisory Setting Up Shop in Saudi Arabia Upbeat on FDI [Bloomberg]

Quoted

“As long as there’s no diplomatic process to develop a governing body in the Strip that isn’t Hamas, we’ll have to launch campaigns again and again in other places to dismantle Hamas’s infrastructure. It will be a Sisyphean task.” Israel Defense Forces chief of staff Herzl Hevi, For Netanyahual, Gaza’s ‘day after’ must wait [Washington Post]

Quoted

 

“All of these collective shocks that are facing the world calls us also to reprioritise, to look at what we are doing, and how can we actually optimise what we are doing, optimise our plans. If you don’t allow your economy to catch up with your projects, basically what will happen is you will import a lot more. And you will not allow your economy, your private sector to catch up and build their factories, manufacturing facilities, service providers to actually support the projects that we are building.” Saudi Finance Minister Mohammed al-Jadaan, Economic Shocks Spur Saudi To ‘Reprioritise’ Reforms: Official [Barron’s]

Quoted

“The consulting market grew 18.2 per cent in Saudi Arabia last year, according to Source Global, against 13 per cent growth in the Gulf region overall and just 3.5 per cent globally.” Ahmed Al Omran and Chloe Cornish, Consulting firms’ grip on Saudi economy sparks local misgivings [Financial Times]

Quoted

“Remittances overtook foreign direct investment in low- and middle-income countries for the first time in 2022. Total global remittances rose from $68 billion in 1990 to $791 billion in 2022. As with previous years, much of this ($614 billion) was received by low- and middle-income countries. Since the mid-1990s, remittance has also greatly surpassed Official Development Assistance.” Remittances to LMICs Overtake FDI for First Time [Statista]

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