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QUOTED
“How do we wrap those two together – huge benefits from digitalisation but still very weak productivity growth in the region? Is that something that in the next stage of digitalisation we may see reversed?” Tim Callen, a former assistant director in the IMF’s Middle East and Central Asia department, Gulf digitalisation growth barely moving needle in productivity [Arabian Gulf Business Insight]
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TOP STORY
Global ratings agency S&P raised Saudi Arabia’s rating to ‘A+’ from ‘A’ with a stable outlook citing the country’s economic diversification efforts and growth of its non-oil economy.
[more]
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MORE TOP STORYLINES
Via Phil Stewart, Mohammed Ghobari and Gabriella Borter in reuters.com: The United States will keep attacking Yemens Houthis until they end attacks on shipping, the U.S. defense secretary said on Sunday, as the Iran-aligned group signaled it could escalate in response to deadly U.S. strikes the day before. The airstrikes, which the Houthi-run health ministry said killed at least 53 people, are the biggest U.S. military operation in the Middle East since President Donald Trump took office in January. One U.S. official told Reuters the campaign might continue for weeks. Houthi leader Abdul Malik al-Houthi said on Sunday that his militants would target U.S. ships in the Red Sea as long as the U.S. continues its attacks on Yemen. If they continue their aggression, we will continue the escalation, he said in a televised speech.
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Via Frank Kane in agbi.com: CERAWeek, the annual gathering of the energy elite in Houston, Texas, is an intense crash course in the state of world oil and gas markets, geopolitics and all the technological paraphernalia that keeps the global economy turning. There is an unspoken rivalry between CERAWeek and Adipec – the autumn gathering in the UAE which also draws a global energy audience – but in the era of President Trump and American “energy dominance”, Houston is the place to be in 2025. It’s difficult to distil the sheer weight of information that’s been laid out before me over the past week of dawn-to-early-hours days and many conversations with energy leaders.
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Via Jonathan Fulton in atlanticcouncil.org: In a new Scowcroft Middle East Security Initiative issue brief, “Present without impact? How the Middle East perceives China’s diplomatic engagement,” Jonathan Fulton argues that despite economic advancements and high-profile diplomatic engagements, China’s influence remains largely economic rather than political. Middle Eastern perceptions of China vary; it is seen as a cautious, transactional actor with limited capacity for addressing key regional conflicts and security concerns. Fulton adds that while Iran views China as a crucial partner, Gulf states leverage their ties with Beijing to maintain strategic flexibility.
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MORE ON THE KINGDOM AND BEYOND
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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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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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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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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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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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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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Spanish defense contractor Navantia has cut the steel of the Royal Saudi Naval Force’s seventh Avante 2200-class corvette at its shipyard in San Fernando. The...[By Rojoef Manuel via thedefensepost.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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The Saudi Architecture Characters Map highlights 19 architectural styles inspired by geographical, natural and cultural characteristics, derived...[via saudigazette.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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“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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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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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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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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“We will use overwhelming lethal force.” That’s how US President Donald Trump described a campaign of airstrikes he launched Saturday in Yemen against the Houthis. The...[via atlanticcouncil.org]
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The Donald Trump administration has declined to renew a sanctions waiver for Iraq's electricity imports from Iran, raising the spectre of a power...[via amwaj.media]
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