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QUOTED
“The [Saudi] market is very immature at the moment – that isn’t a criticism, it’s just a fact. We aren’t Western Europe, we’re not North America – there’s a lot of catching up to do,” flyadeal CEO Steven Greenway, India Is ‘On Our Radar’ for 2025, Says CEO of Saudi’s Flyadeal [Skift]
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TOP STORY
Speaking at the 2024 Local Content Forum just completed in Riyadh, Ahmed Al-Ohali, Governor of the General Authority for Military Industries (GAMI), said Saudi Arabia has localized 19.35% of its military spending. [more]
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MORE TOP STORYLINES
Via Maria Fantappie and Bader Al-Saif in foreignaffairs.com: To Washington, the Saudi rapprochement with Iran may seem like bad news. U.S. officials, after all, have spent years pushing for Israel and Saudi Arabia to normalize relations. But the United States should welcome Riyadh’s pivot. If Saudi Arabia can forge working ties with both Iran and Israel, the country can play a new and useful role in moderating Middle Eastern tensions. It can act as a broker between competing parties, perhaps putting an end to the current Iranian-Israeli tit for tat. The events of the past year have upended long-standing redlines, deterrence parameters, and traditional rules of engagement among foes, and Riyadh is in a uniquely strong position to midwife a better regional order.
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Via Oliver Stuenkel and Margot Treadwell in carnegieendowment.org: At the BRICS summit last month, one leader was noticeably absent from the family photo of assembled leaders: Saudi Arabia’s crown prince, Mohammed bin Salman. Over a year after the kingdom was offered membership to the bloc, the invitation remains unanswered, and the crown prince passed on attending the 2024 summit. Instead, the Saudi foreign minister arrived for only the final day of the gathering. For its part, Saudi Arabia is hedging its commitment to a group that itself constitutes a hedging club for other middle powers. The motivations driving its ambiguous strategy deserve a closer look. Saudi Arabia’s assessment is likely influenced by BRICS’s decision to invite Iran, as well as Russia’s aggressive rhetoric and plans to reduce the importance of the U.S. dollar. These moves could transform BRICS into an anti-Western club and jeopardize Saudi Arabia’s economic and security relationship with the United States. Furthermore, the bloc’s inclusion of Iran and the UAE places the countries on equal footing with Saudi Arabia at a time when Riyadh seeks to project itself as the regional leader.
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in arabianbusiness.com: The Qurain Cultural District is set to become a vibrant global hub where culture meets modern urban living. It will offer a diverse range of arts, retail, office, and residential spaces for people to live, work, shop local brands, and enjoy local dining experiences. Its cultural offerings will include a cinema, museums, and several academies focused on writing, traditional Najdi architecture and mud building, Arabic music, culinary arts, performing arts, and theatre. The district will feature 19 mixed-use buildings, including office, retail, and residences, 10 of which have various boutique office options, and a wide range of retail space and dining venues.
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MORE ON THE KINGDOM AND BEYOND
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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]
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TotalEnergies will build an 0.3 gigawatt (GW) solar park in Saudi Arabia, while EDF Renewables will build...[By America Hernandez via reuters.com]
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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]
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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]
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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]
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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]
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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]
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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]
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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]
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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]
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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]
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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]
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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]
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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]
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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]
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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]
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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]
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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]
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President Trump was persistent during his first term — he wanted a new deal with Iran and persuaded Japanese Prime Minister Shinzo Abe to take a...[By Alex Vatanka via mei.edu]
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The International Criminal Court issued arrest warrants on Thursday for Israeli...[By Stephanie van den Berg and Nidal Al-Mughrabi via reuters.com]
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Angry crowds gathered in the remote Pakistani mountain town of Parachinar on Friday, incensed by an attack...[By Mushtaq Ali via reuters.com]
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