QUOTED

Quoted

“The Kingdom has connected 6.2 GW of renewable energy to its grid, with 20 GW of projects launched this year and 44.2 GW under development—enough to supply 7+ million homes with clean electricity.” Saudi Green Initiative 2024 forum, gallery, and talks conclude with impactful outcomes [Zawya]

TOP STORY

Noor Riyadh, world’s largest light festival, attracts 3 million

Noor Riyadh, 1

Noor Riyadh, the world’s largest light art festival and a flagship program of Riyadh Art, concluded its successful fourth edition, welcoming over 3 million spectators and bringing together over 60 artworks by more than 60 artists from 18 countries. [more]

 

MORE TOP STORYLINES

Saudi Healthcare Firm Almoosa’s IPO Draws $46 Billion in Orders

Via Laura Gardner Cuesta in yahoo.com: Saudi Arabia’s Almoosa drew 173 billion riyal ($46 billion) worth of orders from institutional investors for its $450 million initial public offering in the kingdom, in a sign of continued interest in Middle Eastern listings. Almoosa is offering 13.3 million shares, or a 30% stake. At this price, the firm would be valued at 5.62 billion riyals, with the deal on track to be the kingdom’s second largest listing of the year. Almoosa is the latest Middle Eastern listing to garner triple-digit levels of oversubscription, although of late this has not necessarily translated to strong trading performance.

The Transformative Power of Sculptures and Landmarks in Urban Spaces: The Case of Al Khobar, Saudi Arabia

in archdaily.com: The Mujassam Wattan competition, aligned with Saudi Vision 2030, has been a catalyst for integrating meaningful public art into cities across the Kingdom. By inviting artists and designers to create works inspired by Saudi heritage and aspirations, the initiative fosters cultural expression while enhancing urban spaces. In Alkhobar, the competition resulted in the creation of Alarda and Alkhobar Memory, two sculptures that transformed the citys sea front into a cultural and social hub. These works exemplify how public art can redefine spaces, connect communities, and highlight local identity.

Diriyah Company awards $202M excavation contract to China

Via Nikita Buekenhout in mepmiddleeast.com: Diriyah Company, the visionary Saudi mixed-use developer transforming “The City of Earth,” has awarded a $202.2 million contract to China Harbour Engineering Company (CHEC) for bulk excavation works within the second phase of the ambitious Diriyah project. Spanning approximately 6.3 square kilometres of the 14 square kilometre development, this phase is a cornerstone in bringing Diriyah’s integrated urban master plan to life. The project features more than 40 hotels, arts districts, museums, and world-class sporting venues, including the Royal Diriyah Opera House and the 20,000-seat Diriyah Arena. This groundwork will enable the seamless construction of the planned cultural and entertainment landmarks, paving the way for Diriyah to become a premier live-work-play destination on the outskirts of Riyadh.

 

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]

 

Severe Storms Delay Flights in Saudi Arabia

Severe storms hit Saudi Arabia, as torrential rains and high winds delayed flights at King Abdulaziz International Airport, in Jeddah, on Monday, January 6. Severe rains,...[via news.yahoo]

 

World Cup award adds pressure to Saudi Arabia’s construction challenge

Fifa’s decision to award Saudi Arabia the 2034 World Cup has started the clock on a huge logistical undertaking to build the infrastructure needed to...[via ft.com]

 

Trump returns to a profoundly different Middle East

In the urgent first quarter of 2025, the new US administration is going to have to focus on how to maximize the opportunity while minimizing...[By Paul Salem via mei.edu]

 

Post-Assad Syria presents a more complex, nuanced, and urgent challenge to a second Trump administration

A political transition is currently underway in Damascus, run by Hayat Tahrir al-Sham (HTS) — a group that remains a designated terrorist organization in the...[By Charles Lister via mei.edu]

 

Syrian mass graves expose “machinery of death” under Assad, top prosecutor says

An international war crimes prosecutor said on Tuesday that evidence emerging from mass grave sites in ...[By Timour Azhari and Anthony Deutsch via reuters.com]

 

Iran’s Revolutionary Guards extend control over Tehran’s oil exports, sources say

Iran's Revolutionary Guards have tightened their grip on the country's oil industry and control up to half...[By Jonathan Saul and Parisa Hafezi via reuters.com]

 

Mubadala backs US-based AI startup in $600m funding round

Abu Dhabi’s Mubadala Investment Company is among the investors backing Crusoe, a San Francisco-based artificial intelligence infrastructure provider, in its $600 million funding round. The...[By Pramod Kumar via agbi.com]

 
 

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