QUOTED

Quoted

“I think globally, the serious, serious issue that we need to watch is sovereign debt issues, particularly in low-income countries and emerging economies that do not have the fiscal buffers to lean into in case of disruptions in the market. And hopefully between the IMF and the G20 we will find a solution, and we will be ready to support the world economy in case of shocks in that area, but it is an area that we need to watch, as global leaders, to make sure that it doesn’t surprise us.” Saudi Minister of Finance, Mohammed Al-Jadaan at the Future Investment Initiative in Riyadh,  Sovereign debt is the biggest risk to global growth in 2025, Saudi finance minister says [CNBC]

TOP STORY

8th Future Investment Initiative wraps in Riyadh

FII8 logo

The 8th Future Investment Initiative (FII) conference just concluded in Riyadh, Saudi Arabia, running from October 29th to 31st, 2024. This year’s theme was “Infinite Horizons: Investing Today, Shaping Tomorrow.” [more]

 

MORE TOP STORYLINES

Saudi-US bilateral accords ‘not that connected’ to Israel normalization

Via Nour El-Shaeri in arabnews.com: Saudi Arabia’s foreign minister said on Thursday that some of the bilateral agreements the kingdom has been negotiating with Washington are “not that tied” to the normalization of Saudi relations with Israel and are “moving ahead.” He noted that potential US-Saudi agreements on trade and artificial intelligence are “not tied to any third parties” and “can progress probably quite quickly.” “Some of the more significant defense cooperation agreements are much more complicated. We would certainly welcome the opportunity to finalize them before the end of the Biden administrations term, but that’s reliant on factors outside of our control,” he said.

Saudi Arabia's Q3 GDP grows by estimated 2.8% y/y

Via Rachna Uppal in reuters.com: Saudi Arabia’s economy grew 2.8% in the third quarter year on year, preliminary government data showed on Thursday, supported by an increase in non-oil activities. Non-oil growth rose 4.2%, government activities increased 3.1% and the oil sector grew 0.3%, data released by the General Authority for Statistics showed. GDP had shrunk in the second quarter on a year-on-year decline in oil activities of almost 9%.

Saudi Arabia’s Historical Mud City Seeing Boost in Tourism FDI

Via Christine Burke and Sam Dagher in bloomberg.com: The Saudi company tasked with building a mega cultural heritage project in the heart of Riyadh is close to securing $400 million from foreign investors, indicating progress in the kingdom’s efforts to draw private funding into the tourism sector. Companies from Italy, Colombia and the United Arab Emirates are the latest to make commitments to co-develop hotels and villas at the site, Diriyah Co. Chief Executive Officer Jerry Inzerillo said in an interview on the sidelines of the Future Investment Initiative confab in the Saudi capital. Tourism is one area he said is going better than expected. Saudi Arabia aims to draw in 150 million tourists a year by 2030 — from about 109 million last year — and plans to spend almost $1 trillion on the sector in the next decade. It wants to see $80 billion in private investment by 2030.

 

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

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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

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

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France targets Saudi PIF’s ‘colossal’ investment power

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

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There is no alternative to Hezbollah’s disarmament

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