“On the 7th of March… in Jeddah there will be an emergency meeting of the foreign ministers of the Organization of Islamic Cooperation, and we will also seek to endorse this plan so that it becomes both an Arab plan and an Islamic plan.” Egyptian Foreign Minister Badr Abdelatty, Arab League adopts Egypt’s Gaza reconstruction plan [Al-Arabiya]
“LNG is where GCC investors, who already have significant US gas interests, may invest further, according to analysts. Worldwide, demand for the relatively clean-burning fuel will rise by around 60 percent by 2040, according to Shell. Meanwhile Russia, a major exporter, is likely to be excluded for the foreseeable future. The US is not just the world’s largest exporter, having stepped into the European market, but it is also the most efficient producer.” US energy push bodes well for GCC’s LNG interests [Arabian Gulf Business Insight]
“The workforce is undergoing a profound demographic shift. Globally, Millennials and Gen Z now make up about half of all employees, and this figure is projected to rise to 70 per cent by 2030. In Saudi Arabia, with its youthful population, this transition is happening even faster. For businesses, this means meeting the expectations of a tech-savvy workforce is no longer optional — it’s essential.” Why businesses must bridge the ‘generational gap’ to align with Saudi’s AI ambitions [Gulf Business]
“PwC Middle East’s 28th Annual CEO Survey showed that 77% of business leaders in Saudi Arabia expect the local economy to grow over the next 12 months, outpacing their peers in the GCC (71%), the Middle East (64%), and the world (57%).” 77% of Saudi businessmen expect economy to grow in next 12 months: PwC survey [Argaam]
“NEOM, situated strategically in Saudi Arabia’s Tabuk province, is within a six-hour flight of 40 percent of the world’s population. It presents investment opportunities across 15 sectors, creating scope for substantial job creation and attracting new residents.” NEOM: Understanding Saudi Arabia’s Visionary Project [Middle East Briefing]
“In the GCC countries, we are definitely seeing a rapid surge, not only in satellites, but also in the whole space industry. There has been a rapid demand surge for Earth observation because you can actually have great commercial applications.” Fred Liebler, principal at global consultancy group FTI Delta, Why Gulf demand for satellites is taking off [Arabian Gulf Business Insight]
“African players are doing well in the Pro League because the climate is similar. We are used to the heat. There are often big spaces in games which gives us an opportunity to show our athletic abilities – the power, the speed. Saudi Arabia is, in general, quite an easy place to adapt, especially from a place like Nigeria where half the population is Muslim.” 31-year-old Troost-Ekong, captain of Al-Kholood, Africa’s growing ‘brotherhood’ in Saudi Pro League [BBC]
“Saudi Arabia has clinched a Guinness World Record for hosting the largest performance of the traditional Saudi Ardah. The event, staged on Sunday at Al Adl Plaza in Riyadh, drew more than 50,000 people and concluded four days of Founding Day celebrations starting from February 20 to 23. The Ardah — one of Saudi Arabia’s most distinctive cultural expressions — featured 633 performers in synchronized drumming and dancing, claiming the record for the biggest gathering of its kind.” Saudi Arabia sets Guinness World Record for largest Ardah performance during Founding Day festivities [Gulf News]
“An Iridium study of 350 active emerging markets funds, which manage more than $400 billion, has found that only about 56 percent have invested in Saudi Arabia and the UAE – signalling the untapped potential.” Gulf CEOs urged to conquer fear of earnings call [Arabian Gulf Business Insight]
“Discussions are just happening, and at the Arab Summit there will be agreement… Straight off the bat, there is no one state solution. As far as we’re concerned, we don’t see the displacement of the people of Gaza as a viable method in order to achieve prosperity.” Khalid bin Bandar Al Saud, Saudi Arabia’s ambassador to the UK, Saudi ambassador to UK rules out one-state solution for Palestine [Arab News]
