QUOTED

Quoted
“It wasn’t a difficult decision – I think it was a very thorough process. We spent a lot of time with the Saudis, understanding their approach to the tournament. We asked a lot of questions, they gave us a lot of time and they gave us a lot of commitments and I think the important thing is that we will now work with them over the next 10 years leading up to the tournament to make sure that those commitments are delivered – from both sides.” Debbie Hewitt, Chair of England’s Football Association, Backing Saudi World Cup bid ‘wasn’t a difficult decision’, says FA chair [Reuters]

TOP STORY

4th Red Sea Film Festival wraps; awards

Red Sea Film Festival, 2024

Two juries led by Jury President Spike Lee deliberated to select winners across 14 categories. 16 feature films in competition as well as 48 films selected across New Saudi, New Cinema, Arab Shorts and International Shorts programs, were in the running for awards. [more]

 

MORE TOP STORYLINES

Saudi FM joins Arab, US diplomats in calling for new, inclusive Syrian state

in arabnews.com: Jordan: Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan joined top diplomats from the US, Turkiye, the European Union and Arab nations in Jordan on Saturday for talks on Syria following the ousting of President Bashar Assad earlier this week. Prince Faisal led the Kingdom’s delegation at the meeting, held under the auspices of the Arab League, which focused on supporting a Syrian-led transitional political process to address the challenges faced by the Syrian people. Discussions emphasized restoring Syrias national institutions, ensuring the countrys sovereignty and territorial integrity, and supporting the aspirations of its citizens for a secure and dignified life.

Analysis: The hidden challenge of Saudi unemployment

Via Wael Mahdi in semafor.com: The rapid expansion of government employment has created a significant wage gap between the public and private sectors. Government jobs, with higher salaries and better benefits, have made it harder for private employers to attract top talent. This distortion threatens the competitiveness of the private sector — which must be fostered to achieve the economic diversification goals under Vision 2030. As the best talent gravitates toward government roles, the private sector risks being sidelined. Without a competitive labor market, it will struggle to drive innovation, productivity, and sustainable job creation. Reducing unemployment to 5% by 2030 is an ambitious and commendable goal, but its success depends on more than hitting numerical targets. Saudi Arabia’s true transformation will be measured not by how many jobs are created, but by how many are still viable a decade from now.

Movie Stars Will Visit Saudi Arabia. Will They Work There?

Via Lucas Shaw in bloomberg.com: Over the past two weeks, dozens of movie stars, filmmakers and Hollywood executives visited Jeddah, a metropolis on the west coast of Saudi Arabia, for the fourth edition of the Red Sea Film Festival. Vin Diesel and Emily Blunt received awards at the opening ceremony. Spike Lee and Minnie Driver served on the jury. Agents from CAA and WME spoke on panels alongside executives from production outfits such as Fremantle and Anonymous Content. While Wall Street, Silicon Valley and some in Hollywood have been tapping Gulf money for some time, Saudi Arabia has emerged as a hub of financing and production in just the past few years. The state-backed Public Investment Fund has already invested billions in video games and sports, and the country is now offering generous incentives — a rebate of about 40% — to film in Saudi Arabia.

 

MORE ON THE KINGDOM AND BEYOND

Saudi Arabia completes arrangement to secure $2.5 bln credit facility

Saudi Arabia has finalised an arrangement for securing a shariah-compliant revolving credit facility worth $2.5 billion, the...[By Enas Alashray and Ahmed Tolba via reuters.com]

 

Dakar Rally competitors react to grueling Stage 2 in Saudi Arabia: Video

Dakar Rally drivers and riders recount Stage 2 of the event, where competitors took two days to traverse nearly 1000 km....[via youtube.com]

 

Saudi Arabia’s PIF raises $7bn from first murabaha facility as it seeks to boost investments

Saudi Arabia's Public Investment Fund plans to raise $7 billion from its first murabaha credit facility, as the fund diversifies its funding...[By Aarti Nagraj via thenationalnews.com]

 

Saudi Arabia sells $12 billion 3-part bond amid strong demand

 Saudi Arabia raised $12 billion from global debt markets in a three-part bond sale, attracting strong investor...[By Rachna Uppal and Enas Alashray via reuters.com]

 

Saudi Interior Ministry confirms ban on transferring or publishing security surveillance camera recordings

Saudi Arabia’s Interior Ministry confirmed that the provisions of the “Use of Security Surveillance Cameras” law prohibit the transfer or publication of security surveillance camera...[via arabnews.com]

 

Taste of 2034 World Cup as Saudi Asian Cup stadiums named

Among the venues announced Tuesday for the 24-team regional competition were the 70,000-capacity King Fahd Sports City Stadium and King Saud University Stadium, both in...[via france24.com]

 

Mideast Wealth Funds Spend $82 Billion to Ramp Up Bets on Post-Oil Future

That the Gulf’s various sovereign wealth funds have become some of the most dominant players in global dealmaking has rarely been in...[By Matthew Martin via bloomberg.com]

 

Saudi Arabia boosts desalinated water supply to 50% in Vision 2030 push

Saudi Arabia’s water sector witnessed significant shifts in 2023, with a 31 percent increase in desalinated seawater production, now comprising 50 percent of the country’s...[via azernews.az]

 

Saudi Arabia estimates 2025 budget funding at $37bn

Saudi Arabia will need estimated funding of SAR139 billion ($37.02 billion) in 2025 to cover the potential budget deficit. Finance minister Mohammed Al Jadaan has approved...[By Pramod Kumar via agbi.com]

 

Saudi Coffee Company and Alliance for Coffee Excellence launch Sip of Excellence Competition

Saudi Coffee Company has launched its second annual Saudi Sip of Excellence Competition in partnership with the global nonprofit Alliance for Coffee Excellence. Designed...[By April Hawksworth via gcrmag.com]

 

Saudi Arabia Plans Further Borrowing Spree to Pay for Huge Projects

Saudi Arabia, one of the largest bond issuers in emerging markets last year, has started 2025 with a funding spree as the country fuels its...[By Abeer Abu Omar and Matthew Martin via yahoo.com]

 

Leading Saudi Arabian airports hit passenger traffic highs in 2024

Jeddah King Abdulaziz International Airport and Riyadh King Khalid International Airport each posted record passenger traffic in 2024, reflecting the continuing strong performance of aviation...[By Dermot Davitt via moodiedavittreport.com]

 

Saudi Arabia Hikes Its Oil Prices to Asia as Supply Tightens

The world’s top crude oil exporter, Saudi Arabia, has raised the price of its crude loading for Asia in February by more than expected...[By Tsvetana Paraskova via oilprice.com]

 

Saudi Arabia Mandates USB Type-C Charging Ports for Mobile Devices

The Communications, Space and Technology Commission (CST) and the Saudi Standards, Metrology and Quality Organization (SASO) have announced that the first mandatory phase of the...[By Aayushya Ranjan via techafricanews.com]

 

Can Saudi’s New Milaf Cola Compete with Coca-Cola and Pepsi?: Video

In a move that has both bemused and intrigued the global beverage industry, Saudi Arabia has launched Milaf Cola, a fizzy drink made from dates....[via youtube.com]

 

Saudi Arabia to host Royal Rumble in 2026

WWE, in partnership with The General Entertainment Authority (GEA), on behalf of HE Turki Alalshikh, announced that the 39th annual Royal Rumble will be held in January...[via wwe.com]

 

Secretary Blinken’s Call with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud

Secretary of State Antony J. Blinken spoke today with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud. The Secretary reaffirmed U.S. support for...[via state.gov]

 

Syria is the Middle East’s Hinge, but Which Way Will It Turn?

Whatever happens in the region tends to depend heavily on what happens in, about, and to Syria. So, the outcome of the regime’s fall is...[By Hussein Ibish via thecairoreview.com]

 

Israel plans to double population on occupied Golan, citing threats from Syria

Israel agreed on Sunday to double its population on the occupied Golan Heights while saying ...[By Howard Goller via reuters.com]

 
 

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