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QUOTED
“PwC Middle East’s 28th Annual CEO Survey showed that 77% of business leaders in Saudi Arabia expect the local economy to grow over the next 12 months, outpacing their peers in the GCC (71%), the Middle East (64%), and the world (57%).” 77% of Saudi businessmen expect economy to grow in next 12 months: PwC survey [Argaam]
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TOP STORY
Fresh off being named 2024 Asset Manager of the Year at the recent Saudi Capital Market Awards, Jadwa Investment has released its Saudi Economy in 2025 macroeconomic report. [more]
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MORE TOP STORYLINES
Via Kareem Chehayeb in apnews.com: Lebanon’s president said Monday that he hopes to strengthen ties with Saudi Arabia during a visit to the kingdom following years of strained relations between the countries. Joseph Aoun became Lebanon’s first head of state to visit Riyadh in six years. Saudi Arabia has been vocal about its concerns over the Iran-backed militant Hezbollah group and Lebanon’s positions on some regional issues. In recent years, it imposed a travel and import ban on Lebanon. Aoun’s appointment as president as well as that of a diplomat and former head of the International Criminal Court, Nawaf Salam, as prime minister are both seen as major blows to Hezbollah. As relations slowly thaw, Lebanon hopes that Saudi Arabia will lift the travel ban on the cash-strapped country, restore trade and help its reconstruction efforts after the war between Hezbollah and Israel left southern and eastern Lebanon in ruins.
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Via Miguel Hadchity in arabnews.com: US President Donald Trump’s $5 million “gold card” visa is expected to draw wealthy Arab investors seeking economic stability, US market access, and residency prestige, experts say. With Gulf nations, including Saudi Arabia, successfully running their own golden visa programs, Trump’s initiative positions the US as a competitive destination for high-net-worth individuals from the region, offering them a gateway to business expansion, real estate investment, and financial security. “Saudi investors have always been keen on expanding into the US market, particularly in sectors like technology, real estate, and energy. A more accessible visa process could encourage even greater collaboration and economic integration between both countries,” Al-Ansari said. The new initiative will replace the existing EB-5 visa program, which was established in 1990, and is expected to help reduce the national deficit. The EB-5 program grants foreign investors a green card for investing around $1 million in a US business that creates or sustains at least 10 full-time jobs for local workers.
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Via Colin Foreman in meed.com: US-based Turner has been appointed as the project manager for the 1,000-metre-plus Jeddah Tower in Saudi Arabia. Turner was the project manager for the Burj Khalifa in Dubai, which at 828 metres tall has been the world’s tallest building since 2010. The appointment comes amid other signs of clear progress on the Jeddah Tower. The concrete pouring works for Jeddah Tower began on 20 January, marking the official recommencement of construction works. The project’s contractor, the local Saudi Binladin Group (SBG), has received a payment of SR712m ($190m) for work on the tower. Last year, the project development company, Jeddah Economic Company (JEC), signed an estimated SR8bn 42-month contract with the local SBG to resume construction work on the tower. SBG then began engaging with the supply chain to work on the project. SBG awarded Beijing-headquartered Jangho Group a facade works contract that involves engineering design and technical services for the project’s structural glass and adhesive curtain walls.
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MORE ON THE KINGDOM AND BEYOND
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Saudi Arabia‘s Red Sea Global’s newest ultra-luxury offering, Desert Rock Resort, has quickly established itself as a global draw since...[By Tala Michel Issa via arabianbusiness.com]
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The report sheds light on financial performance during the fourth quarter of last year, including revenues, expenditures, and public debt indicators. It highlighted a 21...[via com.sa]
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Unlike Abu Dhabi-backed Manchester City, which has dominated English soccer over the past decade, and Qatari-backed Paris Saint-Germain, which has done likewise in France, it...[By James Robson via apnews.com]
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Trump’s renewal of the maximum pressure campaign could lead to rising tensions in the Gulf after a brief period of relative stability. The Saudis remember...[By Sultan al-Amer via newlinesinstitute.org]
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Saudi Arabia's Crown Prince Mohammed bin Salman congratulated Mark Carney on Friday, on the occasion of the formation of the new government headed by him...[via arabnews.com]
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Saudi Arabia has arrested more than 50 people, including 11 women on prostitution charges, in a new crackdown on “immoral acts” amid ongoing social and...[via middleeastmonitor.com]
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Saudi Arabia and Indonesia are set to sign a memorandum of understanding (MoU) to facilitate the recruitment of domestic workers from Indonesia to Saudi...[via argaam.com]
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The Ministry of Interior conducted inspection campaigns across Saudi Arabia between March 6 and March 12 to ensure compliance with residency, labor, and border security...[via saudigazette.com]
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Saudi Arabia is set to launch a groundbreaking global Twenty20 league, backed by its $1 trillion sovereign wealth fund. Spearheaded by Australian cricket figure Neil Maxwell,...[via geosuper.tv]
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The Saudi Architecture Characters Map highlights 19 architectural styles inspired by geographical, natural and cultural characteristics, derived...[via saudigazette.com]
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Minister of Environment, Water and Agriculture Eng. Abdulrahman Al-Fadley witnessed on Sunday the signing of an agreement between the Environment Fund and the Small and...[via saudigazette.com]
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Developer Diriyah Company — backed by Public Investment Fund — secured $1.6 billion in financing to develop the Wadi Safar project, an upscale residential...[By Kelsey Warner via semafor.com]
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The United States will keep attacking Yemen's Houthis until they end...[By Phil Stewart, Mohammed Ghobari and Gabriella Borter via reuters.com]
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Improvements in the availability and quality of digital infrastructure and services have yet to impact productivity growth in the Gulf economies...[By Valentina Pasquali via agbi.com]
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CERAWeek, the annual gathering of the energy elite in Houston, Texas, is an intense crash course in the state of world...[By Frank Kane via agbi.com]
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Between 10am and 4:30pm on March 11 the tariff rate on Canadian aluminium and steel imports to the US was hiked...[By Robin Mills via agbi.com]
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S&P Global Ratings has raised Saudi Arabia’s credit rating for the first time in two years, citing the country’s economic...[By John Benny via thenationalnews.com]
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Saudi Arabia condemned on Thursday recent Israeli strikes targeting Syria, accusing it of attempting to destabilize the situation in the country. The Kingdom’s foreign ministry issued...[By Ghinwa Obeid via alarabiya.net]
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The larger question is though, can Europe develop a more cohesive foreign policy as essentially the European Union toward the Middle East? Because when you...[via csis.org]
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US President Donald Trump appears to have finally accepted that his scheme to expel all 2.2 million Palestinians permanently from Gaza and have...[By Hussein Ibish via thenationalnews.com]
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More than 1,000 Syrians died in detention at a military airport on the outskirts of Damascus, killed...[By Reade Levinson and Feras Dalatey via reuters.com]
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Militant group Hamas said on Thursday it was ready to begin talks on the second phase of...[By Rami Amichay, Nafisa Eltahir, Yomna Ehab, Maayan Lubell, Ali Sawafta, Nidal al-Mughrabi, Ahmed Tolba and Alexander Cornwell via reuters.com]
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The U.S. Agency for International Development, Washington's primary humanitarian aid agency, has been a top target of a government reduction program spearheaded by billionaire and...[By Sumanta Sen via reuters.com]
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Hamas agreed to release the last hostage bodies included in phase one of the Gaza ceasefire deal,...[By Nafisa Eltahir and Rami Amichay via reuters.com]
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"The war in Gaza and the disastrous situation in the Middle East have led to a freeze in cooperation between Arab countries and Israel," Youssef...[By Ignacio Cembrero via middleeasteye.net]
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Syria's interim president has told a national dialogue conference that the country has a "historic" opportunity to rebuild after the overthrow of Bashar...[By David Gritten via bbc.com]
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