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QUOTED
“LNG is where GCC investors, who already have significant US gas interests, may invest further, according to analysts. Worldwide, demand for the relatively clean-burning fuel will rise by around 60 percent by 2040, according to Shell. Meanwhile Russia, a major exporter, is likely to be excluded for the foreseeable future. The US is not just the world’s largest exporter, having stepped into the European market, but it is also the most efficient producer.” US energy push bodes well for GCC’s LNG interests [Arabian Gulf Business Insight]
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TOP STORY
According to Newsweek’s 2025 ranking of the world’s best hospitals, King Faisal Specialist Hospital & Research Centre (KFSHRC) was named the top hospital in Saudi Arabia for the fourth consecutive year while also making the list of the top 250 hospitals worldwide. [more]
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MORE TOP STORYLINES
Via Natasha Turak in cnbc.com: Saudi state oil producer Aramco reported on Tuesday a decline in net profit to $106.2 billion in 2024, down from $121.3 billion in 2023. The company said it expects total dividends for 2025 of $85.4 billion — a significant fall from 2024′s total of $124.2 billion. This comes as it cut its total payout for the fourth quarter. The oil giant said its base dividend for the final three months of the year would be increased to $21.1 billion, but its performance-linked payout would be just $200 million. This compares to a third-quarter base dividend of $20.3 billion and a performance-linked dividend of $10.8 billion. Lower oil prices hit the company’s net profit last year as crude production around the world increased and demand slowed. Amarco’s realized oil price — the final price the company receives for selling its crude after accounting for transport costs and other factors — dropped to $80.2 per barrel in 2024 from $83.6 the year prior.
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Via Gavin Gibbon in agbi.com: Staffing levels in Saudi Arabia surged in February as companies prepare for growth opportunities ahead. But it was a different story in neighbouring Kuwait and Egypt where jobs were lost in the face of a slowdown in new orders, according to the latest business sentiment surveys. Employment numbers in Saudi Arabia increased at the quickest rate in 16 months in February. The manufacturing and services sector in particular experienced significant growth, according to the seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI), a monthly indicator of conditions in the non-oil economy. The index fell from a decade-high of 60.5 in January to 58.4 last month, but remains well above the 50.0 mark that separates economic growth from contraction.
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Via Andrea Barone, Anila Graupp and Samia Melhem in worldbank.org: Since 2019, the World Bank has been actively engaged with Saudi authorities to enhance the Kingdoms digital sector, and with AI adoption spreading at breakneck speed across the globe, this work continues. Our collaboration has aimed to transform the way people in Saudi Arabia experience everyday online transactions and engage with government services through partnership and technical assistance with four key digital authorities: 1) the Ministry of Communications and Information Technologies (MCIT), 2) the Saudi Digital Government Authority, 3) the Saudi Data and Artificial Intelligence Authority, and 4) the Digital Cooperation Organization. And tangible results were achieved. For example, Saudi Arabia successfully implemented key reforms that revolutionized the production and delivery of public services through digital means. These reforms have improved back-end operations related to data and information management, streamlined workflows and processes around people’s needs, and enhanced online user interfaces. As a result, Saudi Arabia recently came up number 6 out of 193 countries in the 2024 United Nations E-Government Survey ranking.
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MORE ON THE KINGDOM AND BEYOND
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“Bad Boys 3” directors Adil El Arbi and Bilall Fallah are shooting Saudi blockbuster “The Seven Dogs,” featuring...[By Nick Vivarelli via variety.com]
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Dar Global, the international development arm of Saudi-listed Dar Al Arkan, has purchased two land plots in Jeddah and Riyadh for $390...[By Pramod Kumar via agbi.com]
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At last week’s CERAWeek conference of energy leaders in Houston, he caused a stir at one panel session by suggesting that...[By Frank Kane via agbi.com]
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Saudi Arabia‘s non-oil economy is expanding at more than four times the rate of the oil sector, with the capital enjoying...[By Edmund Bower via agbi.com]
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Since 2016 the US has transformed into the world’s largest LNG exporter, eclipsing Australia and Qatar. Donald Trump is now determined...[By Matein Khalid via agbi.com]
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Lebanon and the Gulf Cooperation Council (GCC) states have a rich history of mutually beneficial ties. Since the 1950s, highly skilled and educated Lebanese professionals...[By Barbara Slavin via stimson.org]
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In an environment of rising protectionism and persistent geopolitical tensions, the GCC region will remain resilient and is expected to register a GDP growth of...[By Yara Abi Farraj via economymiddleeast.com]
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Saudi Arabia aims to solidify its position as the world’s top oil supplier, with Aramco planning to boost production. The state-owned giant will increase output...[By Oshionameh Ajayi via theelectricityhub.com]
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U.S. forces are continuing strikes on Houthi sites in Yemen that began over the weekend, Pentagon officials told reporters on Monday, and the strikes will...[By Meghann Myers via defenseone.com]
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S&P Global Ratings has upgraded Saudi Arabia’s rating to “A+” from “A” with a stable outlook, citing socioeconomic and capital market...[By Pramod Kumar via agbi.com]
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Saudi Arabia’s SURJ Sports Investment is backing a new global Twenty20 cricket league and is prepared to pump US$500 million into the project, according to ...[By Ed Dixon via sportspro.com]
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At least 274 Kenyan workers, most of whom are women, have died in Saudi Arabia over the past five years despite being a young workforce...[via middleeasteye.net]
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The Ministry of Industry and Mineral Resources announced that the number of valid mining licenses in Saudi Arabia reached 2,401 by the end of 2024....[via spa.gov]
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Five years have passed since the Tadawul All-Share Index (TASI) reached the bottom in March 2020. The benchmark hit its lowest level since 2016, falling...[via argaam.com]
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Standard & Poor's upgraded Saudi Arabia's credit rating to “A+” from “A”, with a “Stable” outlook. The three global rating agencies (Moody's, Standard & Poor's...[via argaam.com]
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Saudi’s national tourism brand, ‘Saudi, Welcome to Arabia’, is announcing “Ramadan Lights” – the next phase of its global tourism campaign “This Land is...[via biztoday.news]
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Saudi Re has reported net profit after zakat (a religious obligation for all Muslims who meet the necessary wealth criteria) of SAR 475 million for...[By Saumya Jain via reinsurancene.ws]
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Crystal Palace have confirmed that Dougie Freedman has left his role as sporting director, with the former Scotland forward expected to join a club...[By Ed Aarons via theguardian.com]
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Turkish Foreign Minister Hakan Fidan’s warning that Iran will face instability if it makes any destabilizing move in Syria has sparked widespread condemnation in Tehran....[via amwaj.media]
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