QUOTED

Quoted

“Do they pay me to come here? Yes. But we must not lose perspective… Changes cannot happen from one day to the next 100%, because society is not prepared for a radical change. No society has ever been like this in history, this change has to happen gradually. I believe that all these things that are happening in the country mean that this change, instead of happening in 50 or 60 years, will happen in a much shorter time. And I believe that, in some way, despite all the criticism, it is worth it and I accept the criticism, I respect it.” 22-time Grand Slam winner Rafael Nadal, Rafael Nadal gives brutally honest verdict on Saudi Arabia criticism and sportswashing claims [Tennis 365]

 

TOP STORY

IMF World Economic Outlook releases KSA forecasts for ’24 and ’25

IMF, world-economic-outlook-growth-projections-july-2024-real-gdp-growth-map

In its just-released World Economic Outlook Report the International Monetary Fund further lowered its GDP growth forecast for Saudi Arabia for 2024 to 1.5% and estimated growth to accelerate to 4.6% next year. [more]

 

MORE TOP STORYLINES

Perspective: The New Battle for the Middle East

Via Karim Sadjadpour in foreignaffairs.com: These two countries are historic rivals with irreconcilable goals. Vision 2030 appeals to national aspirations, whereas Vision 1979 taps into national grievances. Vision 2030 seeks a security alliance with the United States and normalization with Israel; Vision 1979 is premised on resisting the former and eradicating the latter. Vision 2030 is propelled by social liberalization; Vision 1979 is anchored in social repression.

Blinken and Crown Prince Salman discuss Gaza in US push for Israel-Saudi Arabia normalisation

Via Anjana Sankar and Willy Lowry in thenationalnews.com: US Secretary of State Antony Blinken met Saudi Crown Prince Mohammed bin Salman in Riyadh on Wednesday as part of a diplomatic push to “end the conflicts” in the Middle East. Mr Blinken “emphasised the need to end the war in Gaza, free the hostages and enable the people of Gaza to rebuild their lives free from Hamas, State Department spokesman Matthew Miller said in a readout of the meeting.

IMF Forecasts Steady Global Growth in 2025

Via Anna Fleck in statista.com: India, China, Russia and the United States are forecast to see contractions in their economic output between 2024 and 2025. In Russia, this change is expected to be most pronounced, dropping 2.3 percentage points. Meanwhile, 2025 is forecast to be an improved year for growth in the United Kingdom, Japan and Germany. U.S. has had an upwards revision to a forecasted growth of 2.8 percent in 2024, from the previously estimated 2.6 percent. In 2025, growth is expected to slow to 2.2 percent in the U.S. as fiscal policy is gradually tightened and a cooling labor market slows consumption. This is still an improvement from the July forecast, which had estimated growth at 1.9 percent.

 

MORE ON THE KINGDOM AND BEYOND

Saudi Arabia hits 900+ sports sponsorships in quest for influence

The study mapped 910 sponsorships in different sports and 1,412 positions in 207 Saudi entities, noting that the kingdom has significantly expanded its web of...[By Ed Dixon via sportspro.com]

 

France’s EDF, TotalEnergies awarded Saudi solar tenders during Macron visit

TotalEnergies will build an 0.3 gigawatt (GW) solar park in Saudi Arabia, while EDF Renewables will build...[By America Hernandez via reuters.com]

 

KAPSARC and Climeworks to explore feasibility of Direct Air Capture solutions in Saudi Arabia

The MoU outlines a roadmap to assess the deployment of new DAC systems in the Kingdom, focusing on availability of natural resources including subsurface CO₂...[via climeworks.com]

 

Saudi Arabia and World Bank Group to Establish a Global Knowledge Hub in Riyadh

The World Bank Group–Saudi Arabia Knowledge Hub (K-Hub) will serve as a platform for knowledge generation and exchange to drive greater development impact for countries....[via worldbank.org]

 

How French and Saudi architects are redesigning the cities of tomorrow

Saudi Arabia today is synonymous with megaprojects. Since the launch of the Vision 2030 reform agenda, the Kingdom has rolled out a range of major...[By Zeina Zbibo via arabnews.com]

 

Saudi Arabia announces 5 new initiatives worth $60 million at SGI Forum

Saudi Arabia unveiled five new initiatives, valued at $60 million (SR 225 million), reinforcing the Kingdom's leading role on climate and environment efforts. The initiatives were...[via saudigazette.com]

 

Saudi Arabia signs solar deals with France’s TotalEnergies

A separate power purchase agreement for the Kingdom’s Al Masa’a solar power plant project was signed between the Saudi Power Procurement Company (SPPC), French state-owned...[via alarabiya.net]

 

Crown Prince: Saudi Arabia provides $6B funding for 200 water projects

Crown Prince and Prime Minister Mohammed bin Salman inaugurated the “One Water Summit” in Riyadh on Tuesday evening in the presence of several presidents and...[via argaam.com]

 

FIFA, Clifford Chance Accused of ‘Whitewashing’ Saudi Human Rights Record in World Cup Bid

As FIFA approaches its December 11 vote to appoint the 2034 World Cup host, the football association is once again under fire for allegedly...[By Dario Sabaghi via law.com]

 

Saudi NEOM partners with CarbonCure and Gulf Cryo on low-carbon concrete push

Efforts to integrate carbon capture and utilisation (CCU) technologies into construction in Saudi Arabia’s futuristic Neom city have taken a major step forward as CarbonCure...[By Anthony Wright via gasworld.com]

 

Saudi Arabia bets on tech to make deserts bloom

Saudi Arabia accounts for nearly 75 percent of Middle East investment in climate technology start-ups worldwide, according to a 2023 report by auditor PwC. But its...[via phys.org]

 

Saudi Arabia’s Neo Space Group to Acquire UP42 from Airbus

Saudi Arabia’s Neo Space Group (NSG) is making an acquisition in the Earth observation space, acquiring UP42 from Airbus Defence and Space. Terms of the deal were not disclosed in...[By Rachel Jewett via satellitetoday.com]

 

Locating EV Charging Stations to Enable Intercity Travel in Saudi Arabia

The development of electric vehicle (EV) infrastructure presents a promising pathway to reduce transportation emissions, particularly when integrated with low-carbon...[By Ryan Alyamani and Thomas Gertin via kapsarc.org]

 

How FIFA helped pave the way for Saudi 2034

In October 2023, FIFA made a surprising move that effectively set the stage for Saudi Arabia’s bid to host a future FIFA World Cup...[via playthegame.org]

 

Aramco’s Diversification Strategy: Fueling Saudi Arabia’s Vision 2030

Saudi Aramco is not only the largest oil producer globally but also the most profitable business, surpassing tech giants like Apple and...[By John Calabrese via agsiw.org]

 

France targets Saudi PIF’s ‘colossal’ investment power

During a three-day official state visit focused on boosting business ties, Mr Macron told a Saudi-French business forum in Riyadh that one of...[By Sunniva Rose via thenationalnews.com]

 

Macron announces France-Saudi partnership to co-host conference on creating Palestinian state

French President Emmanuel Macron announced on Tuesday, December 3, that he and Saudi Arabia's de facto ruler, Crown Prince Mohammed bin Salman, would...[via lemonde.fr]

 

Saudi Arabia’s network of spending and influence detailed before getting 2034 World Cup from FIFA

More Saudi commercial deals are expected after the 2034 World Cup decision, either for the 2026 edition being played in North America or the revamped...[By Graham Dunbar via apnews.com]

 

Saudi energy minister sees net zero as scenario that ‘can never happen’

The minister said at the Saudi Green Initiative Forum in Riyadh that the world is currently going through a "reality check" on net zero...[By Rosemary Griffin via spglobal.com]

 

Macron: France, Saudi Arabia will co-chair conference on creating Palestinian state

French President Emmanuel Macron announced on Tuesday that he and Saudi Arabia’s Crown Prince Mohammed bin Salman would co-chair a conference...[via alarabiya.net]

 

Israeli strike kills Lebanese troops as France rallies support for army

An Israeli strike killed three Lebanese troops in south Lebanon on Thursday as France hosted ...[By Maya Gebeily, James Mackenzie and John Irish via reuters.com]

 

Blinken scraps Jordan stop on Gaza truce tour, heading to Saudi Arabia instead

US Secretary of State Antony Blinken will travel to Saudi Arabia on Wednesday for talks on normalization with Israel as he pushes for a ceasefire...[By Jacob Magid via timesofisrael.com]

 

Lebanon’s cash economy surge drives FATF grey-listing concerns

Lebanon is set to be placed on a financial crime watchdog’s grey list this week, with experts pointing to the...[By Tala Michel Issa via arabianbusiness.com]

 

Attackers kill 5, injure 22 at Turkish aviation site

Two attackers killed five people and wounded 22 others on Wednesday in what Ankara called a terrorist...[By Ece Toksabay and Mert Ozkan via reuters.com]

 

How EVs are changing the future of oil demand

Despite near-term challenges in some markets, the uptake of electric vehicles (EVs) globally remains strong. Last year, about 20% of new cars...[via linkedin.com]

 
 

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