“In 2023, 443 films were released in local cinemas, amassing 17.4 million admissions – an impressive increase of more than 20% from 2022. Total ticket sales exceeded $240 million, propelling Saudi Arabia to the 15th position globally in box office rankings for the year, according to ComScore. The top three highest-grossing films in Saudi Arabia during 2023 were Oppenheimer, Sattar, and Mission: Impossible – Dead Reckoning Part One”. Forward motion: The Saudi film industry is poised for an era of dynamic growth [Screen Daily]
“Aramco also announced an increase in this year’s capex spend to be in the range of $48-$58 billion of which 60 percent will go into upstream, 30 percent downstream and 10 percent in new energies.” Amena Bakr, Saudi Arabia is not abandoning upstream investment [Al-Arabiya]
“Saudi Arabia’s public debt is low (26.5% of GDP in 2023, compared with 65% in Germany and 112% in France), and its fiscal room for maneuver is substantial.” Saudi Arabia takes on debt to finance its megaprojects [Le Monde]
“Saudi Arabia is an increasingly important global metals hub and Jeddah fully meets with the operational and logistical criteria for new warehouse locations – such as being an important area of net consumption and having an effective transport network.” Matthew Chamberlain, LME chief executive, LME plans to list Saudi port as a copper and zinc delivery point [Reuters]
“Our mission at Manga Productions is to inspire heroes of tomorrow. We are investing in our young generations in Saudi Arabia as we believe in the power of content to shape a better future.” Dr. Essam Bukhary, CEO, Manga Productions, a subsidiary MiSK Foundation, How Saudi Arabia has become a global hub for manga and anime [Al-Arabiya]
“When it comes to laws affecting women’s decisions to work, laws affecting women’s pay, constraints on women starting and running a business, and laws affecting the size of a woman’s pension, Saudi Arabia gets a perfect score of 100.”
-A conclusion from the recent World Bank report, Women, Business and the Law 2024. [DW.com]
“People in Saudi are viewing art differently now. People are excited, they want to see more art, and they want to be educated more about what it is. We are so proud to be working in the realm of culture today to transform the cities and landscapes of our country.” Nouf Al Moneef, the director of Noor Riyadh, an art festival named after the Arabic word for light, Saudis Transform the Kingdom Through Public Art [Arab Gulf States Institute in Washington]
“An enduring focus on oil security is a consequence of the continued need for oil to fuel cars, trucks, ships and aircraft, as well as to produce the petrochemicals necessary to manufacture countless everyday items.” IEA energy security analyst Ronan Graham and IEA energy security researcher Ilias Atigui, OPEC Voices Encouragement after IEA Affirms Support for Oil Security [Rigzone]
“At the end of the day, every single country has their own flaws, but also positive sides, and we are not going to change the world at the end of the day as a sport, but we try to share positive values. It’s also up to the country to make positive changes. I do think that since we have been here already there have been some really nice positive changes and you have to respect that and sometimes you know it takes a bit longer in some countries. I think it’s very positive and it’s great to see and also great to meet a new culture as well for everyone to get educated on that as well, because everyone is a little bit different around the world wherever you go, and you have to respect that. But then, of course, also, wherever you’re from, your country, there are always things that can be done better, so it’s a work in progress in general.” Max Verstappen, F1 will not change the world with its values [Racing News]
“Arab attitudes since the war began have been far more moderate than in the past, condemning violence against civilians on both sides, rejecting terrorism and urging a two-state solution. Hamzawy pointed out that this is part of a broader turn away from political violence, with an average of more than 90 percent of Arabs surveyed by one source in recent years rejecting extremist organizations and condemning terrorism.” Fareed Zakaria, Opinion: Amid the horror in Gaza, it’s easy to miss that the Middle East has changed [Washington Post]
