QUOTED

Quoted

“US Treasuries as a portion of total foreign assets held by SAMA, as the Saudi Central Bank is known, rose to almost 35% last month. That puts them at the highest level since February 2020 at the onset of the coronavirus pandemic. The country’s investments in the US government bonds has been rising this year and SAMA now holds $144 billion in US Treasuries even as its total foreign assets has fallen to the lowest since February.” Saudi Arabia’s US Treasury Holdings Hit Highest Since 2020 [Bloomberg]

TOP STORY

Riyadh hosts COP16 – the United Nations Convention to Combat Desertification

COP16, Riyadh, desertification

The largest-ever meeting of the United Nations Convention to Combat Desertification (UNCCD) kicked off today in Riyadh.  [more]

 

MORE TOP STORYLINES

Saudi Fund’s Shifting Focus Hits Budgets on Some Projects

Via Matthew Martin, Christine Burke and Zainab Fattah in yahoo.com: The Public Investment Fund has asked some portfolio companies to cut their proposed budgets for next year by as much as 20% while some other developments may be accelerated, according to people familiar with the matter, who asked not to be identified discussing private information. The PIF is also reviewing budgets for projects yet to be announced, the people said. Spending plans for 2025 are due to be presented next month to the fund’s board, when final decisions on its total outlays and budgets for individual projects are expected to be made, the people said. Some PIF projects are looking to raise external financing to compensate for any budget cuts, the people said.

Fifa issues glowing Saudi 2034 World Cup report despite human rights fears

Via Jonathan Wilson in theguardian.com: Saudi Arabia’s 2034 World Cup bid received a higher technical score from Fifa than the 2026 joint bid by the United States, Canada and Mexico, even though the Middle Eastern nation has yet to construct a number of stadiums proposed for the tournament. Fifa released its bid evaluation report in the early hours of Saturday morning and said the 2034 bid received an overall average score of 4.2 out of 5, though eight stadiums are still to be built. All venues – including the planned 92,760-seater King Salman International Stadium in Riyadh – will not be completed until 2032, but three new stadiums are expected to be finished for the Asian Cup which kicks off in January 2027.

Who are the rebels seizing control of Syria's second city?

Via Sebastian Usher in bbc.com: Rebel forces launched the largest offensive against the Syrian government in years on Wednesday. By Sunday, they had taken control of large parts of the countrys second-biggest city, Aleppo and were advancing towards Hama in the south. The surprise offensive prompted the first Russian strikes on Aleppo since 2016, and saw Syrias military withdraw its troops from the city. The attack was led by the Islamist militant group Hayat Tahrir al-Sham (HTS) – which has a long and involved history in the Syrian conflict.

 

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]

 

At least 25 killed as Russian, Syrian jets intensify bombing of Syrian rebel territory

At least 25 people were killed in northwestern Syria in air strikes carried out by the Syrian...[By Suleiman Al-Khalidi via reuters.com]

 

Russian strikes hit Aleppo as rebels take control

Rebel forces in Syria have taken control of the "majority" of the country's second-largest city, Aleppo, according to the UK-based monitoring group Syrian...[By Raffi Berg & Maia Davies via bbc.com]

 

Iran weighs intervention as Syrian civil war returns to spotlight

The Syrian city of Aleppo has fallen to Sunni militants for the first time since 2016 after a lighting offensive. Iran has reacted by moving...[via amwaj.media]

 

Hamas releases hostage video as UNRWA halts aid deliveries to Gaza citing looting

Hamas has released a video of hostage Edan Alexander, 20, in which he addresses his family,  Benjamin Netanyahu and Donald Trump. Hamas leaders held talks...[via abc.net]

 

Why Trump II may be different for Iran, Iraq

Donald Trump’s first term as president of the United States (2017–21) posed significant challenges for both Iran and Iraq, bringing economic strain, political pressure, and...[By Ali Mamouri via amwaj.media]

 

Trump picks Massad Boulos to serve as adviser on Arab, Middle Eastern affairs

U.S. President-elect Donald Trump on Sunday said Lebanese American businessman Massad...[By Andrea Shalal and Maya Gebeily via reuters.com]

 

FIFA should pay workers harmed in building World Cup venues, its committee report says

After years of outcry over the human rights abuses against migrant workers during the 2022 World Cup in Qatar, a FIFA-commissioned report concluded that FIFA,...[By Juliana Kim via npr.org]

 

EU and GCC officials aim to resume FTA negotiations

European and Gulf officials are holding “informal” efforts to “revive” and even “upgrade” negotiations over a free trade agreement between the two blocks. Efforts towards such...[By Valentina Pasquali via agbi.com]

 
 

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