“Saudi Arabia ranks first in the Arab world and tenth globally in cement production, with an annual output capacity exceeding 80 million tons from 20 domestic factories, according to Minister of Industry and Mineral Resources Bandar Alkhorayef.” Saudi Arabia tops Arab cement producers, ranks 10th globally: Alkhorayef [Argaam]
“Bad Boys: Ride or Die recently became Saudi Arabia’s highest-grossing film of all-time, scoring a whopping 1.7 million admissions in the country following its July 25 release.” Will Smith to Be Guest of Honor at Saudi Arabia Movie Biz Trade Show Saudi Film Confex [Variety]
“One of Riyadh Air’s key targets is to boost connections between Saudi Arabia and Asia, a region with booming economies and increasing travel demand. By offering new direct routes to capitals such as Tokyo, Seoul, and Singapore, the airline hopes to position Riyadh as a major hub for business and tourism. “It’s about getting as much point to point connectivity as far as we can,” Douglas said, adding that it was “unacceptable” that there were currently no non-stop flights between Riyadh and the largest cities in Japan, South Korea and China.” Tony Douglas, Riyadh Air CEO, Riyadh Air to fix Saudi’s ‘unacceptable’ lack of connectivity [Aerospace Global News]
“The role of women really has been transformed, but there are some areas, for example, where there’s still the requirement and encouragement that Saudis dress in traditional clothes. So, Saudi Arabia is trying to balance this in a way that doesn’t become too revolutionary… when you look at it in historical terms, clearly this will be seen as a revolution, but it’s a revolution that is being played out in an incremental way, in an organic way … so that the changes are not so overwhelming.” Fareed Zakaria, Frankly Speaking: How Fareed Zakaria views change in Saudi Arabia [Arab News]
“Hosting the Saudi Games for the third consecutive year puts Saudi sports in the position it deserves both locally and globally. We are working hard to elevate the level of Saudi sports competitions to develop a promising generation of athletes who will represent the Kingdom in various regional and international events.” Minister of Sports, President of the Saudi Olympic and Paralympic Committee and Chairman of the Supreme Organizing Committee for the Saudi Games Prince Abdulaziz bin Turki Al-Faisal, Saudi Athletes Will Compete For Prizes Worth Over SR200 Million In 3rd Saudi Games In Riyadh From Thursday [Gulf Insider]
“A two-state solution is not merely an ideal; it is the only viable path to ensuring Palestine, Israel and the region’s long-term security. Uncontrolled escalatory cycles are the building blocks of wider war. In Lebanon, we are witnessing this first hand. Peace cannot be built on a foundation of occupation and resentment; true security for Israel will come from recognising the legitimate rights of the Palestinian people. By embracing a solution that allows both peoples to coexist in peace, we can dismantle the cycle of violence that has entrapped both sides for far too long.” HRH Prince Faisal Bin Farhan Al-Saudi, foreign minister of Saudi Arabia, Saudi foreign minister: A two-state solution is more urgent than ever [Financial Times]
“As many as 517 international companies were so far granted licenses to open their regional headquarters (HQs) in Saudi Arabia, Ministry of Investment said in its 2025 pre-budget statement. This surpassed the target to have regional HQs of 500 international companies by 2030, it further stated.” 517 int’l companies licensed to open regional HQs in Saudi Arabia [Argaam]
“We expect Saudi Arabian AUM to cross USD300 billion within a couple of years, driven by Vision 2030’s Financial Sector Development Program. There is strong demand for Islamic products, with around 95% of mutual funds being sharia-compliant. The industry’s AUM reached 22% of GDP in 2023, with private funds three times larger than public funds. Saudi bank-affiliated managers held 63% of industry revenues, but competition from international managers is rising as the government attracts them to Saudi Arabia.” Bashar Al Natoor, Global Head of Islamic Finance at Fitch Ratings, Saudi Asset Management Industry Poised for Growth; Islamic Funds Dominating [Fitch Ratings]
“Saudi Arabia has agreed to deliver $60 million to the Palestinian Authority in six installments, with the first payment expected in the coming days, according to a senior Palestinian Authority official. The funds will directly support the authority’s budget, said the senior official, who spoke on condition of anonymity to discuss sensitive information.” Adam Rasgon and Aaron Boxerman, Saudi Arabia Pledges to Send Funding for Palestinians [New York Times]
“Mandoob made an impact in Saudi cinemas, selling 114,000 tickets and grossing $1.58m during its opening weekend, outperforming major releases like Wonka and The Boy and the Heron. By the end of February 2024, the film had attracted 605,000 viewers, grossing a total of $7.5m, marking a milestone for Saudi productions.” Netflix to release Saudi thriller ‘Mandoob’ on October 1 [Broadcast Pro]
