QUOTED

Quoted

“Who are you going to have that relationship with? Countries recognize the risks of working with authoritarian-backed suppliers and seek partners that will strengthen their independence and their energy security. These are not trivial decisions. They’re really important 50 to 100-year decisions, and they seek the United States.” Kirsten Cutler, a Senior Strategist for Nuclear Energy Innovation at the US State Department, New-wave reactor technology could kick-start a nuclear renaissance — and the US is banking on it [CNN]

TOP STORY

Kingdom Launches ‘Alat’, A New Effort to Transform Saudi int Electronics and Advanced Industries Hub

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Saudi Arabia’s Crown Prince Mohammed bin Salman announced on Thursday the launch of a new Public Investment Fund company called “Alat,” which will contribute to the aim of making Saudi Arabia a global hub for sustainable technology manufacturing that focuses on advanced technologies and electronics, Saudi Press Agency reported. [more]

 

MORE TOP STORYLINES

The Rise of Saudi Arabia’s Venture Capital Ecosystem: A 5-Year Reflection

in magnitt.com: Against the gloomy picture painted in most regions, Saudi Arabia weathered this storm with success, becoming MENA’s leading market for venture capital funding, where $1.38BN was deployed in capital to Saudi-headquartered startups in 2023. Central to this was the investment in four MEGA deal rounds, investments greater than $100M+, which were closed by Nana, Floward, Tamara, and Tabby, with the latter announcing their relocation to the Kingdom in Q4 2023. These four deals together captured 64% of the capital deployed in the Kingdom.

HRH Crown Prince launches ‘Alat to contribute in making Saudi Arabia a global hub for electronics and advanced industries

in pif.gov: Alat will focus on manufacturing products that serve local and international markets within seven key strategic business units: advanced industries and semiconductors, as well as smart appliances, smart health, smart devices and smart buildings, in addition to next generation infrastructure. The company, chaired by HRH Crown Prince, aims to enhance the capabilities of the Saudi technology sector, increase its contribution to local content – benefiting from the rapid development of this sector – increasing the nation’s attractiveness and its ability to create investment opportunities. Alat will also enable the private sector through its strategic partnerships with leading international players in manufacturing and technology, which will enhance the economic ecosystem locally and regionally.

U.S. sanctions 4 settlers, amid broader push to end Gaza war

Via Laura Rozen in substack.com: The United States today sanctioned four Israeli nationals under a new executive order signed by President Biden targeting perpetrators of extremist violence and intimidation in the Israeli-occupied West Bank, amid a broader push by Washington to try to help negotiate an extended ceasefire between Israel and Hamas, get over 100 Israeli hostages freed, and get regional buy-in for a longer-term path for enduring peace and security for Israelis and Palestinians.

 

MORE ON THE KINGDOM AND BEYOND

Saudi Arabia pushes for U.S. defence pact ahead of presidential election

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CENTCOM chief in Saudi Arabia to meet top military general as violence engulfs region

The top US military general for the Middle East met with Saudi Arabia’s Chief of General Staff, Gen. Fayyad Al-Ruwaili, on Wednesday to discuss deepening...[via alarabiya.net]

 

The Rise of Saudi Arabia’s Venture Capital Ecosystem: A 5-Year Reflection

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Events in January will shape Saudi market in 2024

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Commentary: Saudi Arabia’s oil production move

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Saudi’s PIF sets up new company to manufacture robotic systems and heavy machinery

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Saudi FDI data overhaul to use financial statements not estimates

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Saudi anti-corruption body targets high-ranking officials in landmark multi-million riyal cases

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McKinsey and BCG accused of withholding information on ties with Saudi Arabia

Four consulting firms, including McKinsey and BCG, have been accused of failing to comply with a US congressional subpoena of documents related to their work...[By Stephen Foley via ft.com]

 

Saudi real estate platform transactions soar to $267m a day, 1m users registered

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What are people in Saudi Arabia buying?

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Saudi food industry sees buoyant demand, growth momentum to improve in Q1 2024: Almunajem CEO

The demand levels in Saudi Arabia’s foods industry are strong and the momentum will likely continue over the coming period due to population growth, tourism,...[via argaam.com]

 

Saudi project win caps record year

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Ronaldo-less Al Nassr beats Messi’s Inter Miami 6-0 in Saudi Arabia

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Saudi Arabia among first to start pavilion build for Expo 2025 Osaka

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First Saudi Arabian Grand Prix concert headliners announced

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Saudi aid convoys arrive at Nile River and Northern states in Sudan

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No Saudi citizens harmed, embassy says as student wearing hijab attacked in US school

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Watch: Saudi Arabia’s Cool Crew Give You a Glimpse of Hai Vogue in Al Balad

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US sees signs Iran is worried about escalating proxy attacks amid heightened tensions

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Backs to the wall, Gazans fear Israeli assault on last refuge

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UNRWA funding pauses come amid uncertainty over Gaza aid future

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Exxon, Chevron Surpass Forecasts as Shale Drilling Lifts Output

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New-wave reactor technology could kick-start a nuclear renaissance — and the US is banking on it

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