“We condemn what the Gaza Strip is facing from military assault, targeting of civilians, the violations of international law by the Israeli occupation authorities. We stress on the need to stop this war and the forced displacement of Palestinians.”

-Crown Prince Mohammed Bin Salman, during an African-Saudi summit held in the kingdom’s capital, Riyadh. [Reuters]

“The whole region is sinking in a sea of hatred that will define generations to come.”

Jordanian foreign minister, Ayman Safadi Arab States Intensify Pleas for Gaza Cease-fire as Public Anger Mounts [New York Times]

“We put a massive focus on youth because that’s where you foster talent. In terms of sailing ability, nothing beats time spent on the water, so starting with the kids is key. Our athletes for the 2032 Olympics will currently be in their teens, so that’s why we’re investing heavily in getting more kids onboard, both literally and figuratively.”

-Samia Bagdady, CEO of the Saudi Sailing Federation under the Saudi Arabian Olympic Committee and the Ministry of Sport in the Kingdom. [LiveSailDie]

“The surge in new orders signifies an expanding market and suggests that the non-oil sector is experiencing sustained growth and demand for its products.”

Naif Al-Ghaith, chief economist at Riyad Bank. New orders lift Saudi non-oil business activity growth to four-month high [Reuters]

“The surge in new orders signifies an expanding market and suggests that the non-oil sector is experiencing sustained growth and demand for its products.”

-Naif Al-Ghaith, chief economist at Riyad Bank. Growth in non-oil business activity in Saudi Arabia accelerated for a second consecutive month in October, a survey showed on Sunday. [REUTERS]

“The World Health Organization (WHO) announced that Saudi Arabia, represented in the Saudi Food and Drug Authority (SFDA), has reached maturity level four (ML4) for medicines and vaccines regulation.Achieving maturity level four, the highest level of WHO’s classification for regulatory authorities, reflects SFDA’s sound and credible requirements aimed at ensuring drug safety and improving general health. SFDA is the first national regulatory authority in the Eastern Mediterranean and the third worldwide to achieve ML4 based on the benchmarking exercise of the WHO.” 

Saudi Arabia regulatory system becomes third to reach WHO Maturity Level 4 [World Health Organization]

“The deal caps a busy two months for Saudi new share sales, a sign that sentiment remains strong despite concerns that deepening Middle East tensions could disrupt a booming IPO market. SAL’s listing is the kingdom’s largest after the $1.2 billion offering of oil driller ADES Holding Co., which surged by the 30% limit on debut. SAL’s listing brings Saudi Arabia’s total IPO proceeds for the year to over $3 billion. New share sales in Riyadh had come to a virtual standstill at the start of the year as weaker oil prices precipitated a drop in the benchmark index. Offerings in what’s usually the Gulf’s biggest and busiest listings market began to gather speed in the summer.” 

Saudi Arabian cargo firm SAL rises 30% after $678 million IPO [American Journal of Transportation]

“Hosting the World Cup in 2034 will mark the pinnacle of MBS-era Saudi Arabia’s transformation program, where the country ascends from international pariah to trusted and legitimate member of the global community.”

Simon Chadwick, professor of sport and geopolitical economy at Paris’s Skema Business School [Al-Monitor]

“The Ministry of Justice announced that it has granted law practice license to 15 foreign law firms. The ministry is also examining currently another 15 applications seeking license to practice the legal profession in the Kingdom. The ministry said that the licenses were granted to several companies from countries such as the United States of America and the United Kingdom. This aimed at upgrading and developing the legal profession, enhancing the efficiency of its practitioners, and improving the business and investment environment in the Kingdom.” 

15 foreign law firms licensed to practice legal profession in Saudi Arabia [Saudi Gazette]