QUOTED

Quoted

“Through careful inspection and evaluation of a 25-kilogram sample from each contender over a one-month period, the jury will select 12 winners from the participating cities. The prizes for the top three positions in each city are: SAR 25,000 (US$6,657) for first place, SAR 15,000 (US$3994) for second place, and SAR 10,000 (US$2663) for third place.” Saudi Coffee Company and Alliance for Coffee Excellence launch Sip of Excellence Competition [Global Coffee Report]

TOP STORY

Saudi Arabia approves borrowing plan of $37bn for 2025

Annual borrowing plan, NDMC

Finance Minister Mohammed Al Jadaan approved Saudi Arabia’s annual borrowing plan which estimates financing requirements of approximately $37 billion in 2025 to cover the expected budget deficit as well as about $10 billion in debt maturities.  [more]

 

MORE TOP STORYLINES

Leading Saudi Arabian airports hit passenger traffic highs in 2024

Via Dermot Davitt in moodiedavittreport.com: 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 in Saudi Arabia. King Abdulaziz International Airport served 49.12 million passengers, a leap of +14% year-on-year and a new annual high for any airport in the Kingdom. Jeddah Airports Company hailed the figure as a “historic milestone”, noting that the busiest day was 31 December when it hosted 174.600 travellers. With 4.7 million passengers, December was also the busiest month of the year. In a statement, Jeddah Airports CEO Eng. Mazen Johar attributed the record-breaking performance to the airport’s accelerated operational growth, enabled by the support of the Kingdom’s leadership and oversight of the Ministry of Transport and Logistics. He saluted infrastructure development, emphasising the company’s vision to position the airport as a global hub.

Saudi Arabia to host Royal Rumble in 2026

in wwe.com: 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 2026 in Riyadh, Saudi Arabia. This landmark event marks the first time the Royal Rumble will be hosted outside of North America. Royal Rumble is an annual WWE Premium Live Event that includes both a men’s and women’s match with the winners eliminating all opponents and securing a Championship opportunity at WrestleMania. In a statement, HE Turki Alalshikh said, “Saudi Arabia’s hosting of the Royal Rumble for the first time outside North America reflects the General Entertainment Authority’s ongoing commitment to bringing the world’s largest and most important entertainment events to the Kingdom. Through this partnership with WWE, we aim to enhance the entertainment sector and deliver a transformative experience that attracts a wide audience.”

Saudi Arabia Lays Out Its Strategic Vision For The Quantum Era

Via Matt Swayne in thequantuminsider.com: Experts from The Centre for the Fourth Industrial Revolution in Saudi Arabia recently released its Quantum Economy Landscape in Saudi Arabia report, which outlines the country’s progress, challenges and future roadmap for building a robust quantum ecosystem. The plan is guided by its Vision 2030 blueprint, which sets the Kingdom on a path to better diversify its economy and establish itself as a global innovation hub. “This report marks a pivotal step towards charting a course for a national quantum roadmap harnessing quantum advancements, fostering innovation, and bolstering productivity across diverse industries, potentially revolutionizing the country’s technological and economic landscape,” the report states.

 

MORE ON THE KINGDOM AND BEYOND

Saudi Arabia’s Jeddah Tower to serve as magnet for surge in global investment in the Kingdom, say experts

“The impact of Jeddah Tower will extend far beyond its architectural grandeur. The construction of such an iconic structure will be a catalyst for transformative...[via arabianbusiness.com]

 

Saudi cement sales up 19% to 5.23M tons in Dec 2024

The aggregate sales volumes of 17 Saudi cement producers jumped 19% to 5.23 million tons in December 2024, from 4.39 million tons a year earlier,...[via argaam.com]

 

Saudi Arabia’s National Water Company will implement water supply projects worth $426 million

The National Water Company (NWC), represented by the Western Cluster, announced that it has started implementing water supply projects in the holy city of Makkah at...[via smartwatermagazine.com]

 

Lucid Motors joins “Made in Saudi” Program

Lucid Motors, a leading electric vehicle manufacturer, has joined the "Made in Saudi" program, earning the right to use the "Made in Saudi" logo on...[via com.sa]

 

Saudi deep tech startups raise more than $100 million since 2020

Saudi Arabia’s Ministry of Communications and Information Technology (MCIT), in partnership with King Abdullah University of Science and Technology (KAUST) and Hello Tomorrow,...[By Carrington Malin via middleeastainews.com]

 

Saudi Arabia completes $12B international bond issue

Saudi Arabia closed investor requests for international bond issuance, as part of the Saudi Government International Bond program, the National Debt Management Center (NDMC) announced. Total subscription requests...[via argaam.com]

 

US dangles Saudi Arabia’s cash to push candidate for Lebanon’s presidency

The US has told Lebanese officials that Saudi Arabia is prepared to deploy hundreds of millions of dollars to reconstruct their war-torn country if Lebanese...[By Sean Mathews via middleeasteye.net]

 

Saudi Arabia’s Almoosa Surges in Debut Post $450 Million IPO

Saudi Arabia’s Almoosa Health Co. surged in its trading debut following a $450 million initial public offering in Riyadh, bucking the recent trend of disappointing...[By Laura Gardner Cuesta via yahoo.com]

 

Saudi Videos Show Flooded Mecca

Satellite images show that Mecca, a holy city according to Islam, has flooded after Saudi Arabia was hit with torrential rains due to...[By Maya Mehrara via newsweek.com]

 

Al-Hogail highlights key milestones in Saudi urban, housing development in 2024

Majid Al-Hogail, Minister of Municipalities and Housing, highlighted the key milestones witnessed by Saudi cities in 2024, reaffirming the ministry's commitment to achieving Vision 2030...[via argaam.com]

 

Saudi airports kick off world’s largest passenger flow tech rollout

Saudi Arabia’s General Authority of Civil Aviation (GACA) and airport operator MATARAT are rolling out an advanced LiDAR and passenger flow management solution across the...[via internationalairportreview.com]

 

Saudi Aramco leads $30m investment in tech startup

Wa’ed Ventures, the $500 million venture capital fund owned by Saudi Aramco, and Japanese conglomerate Sumitomo have invested in Zension Technologies, a consumer electronics startup. Wa’ed...[By Neil Halligan via agbi.com]

 

95 endangered animals released into Imam Turki bin Abdullah Royal Reserve

The National Center for Wildlife (NCW), in collaboration with the Imam Turki bin Abdullah Royal Natural Reserve Development Authority (ITBA), released 95 endangered animals into...[via saudigazette.com]

 

Saudi startup funding tumbles as era of cheap money ends

Funding for startups in Saudi Arabia dropped 44 percent to $750 million last year, the sharpest decline in the Middle East and North Africa, according...[By Megha Merani via agbi.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]

 

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]

 

UAE discusses post-war Gaza government with US and Israel

The United Arab Emirates has discussed with Israel and the United States participating in a provisional administration...[By Alexander Cornwell via reuters.com]

 
 

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