QUOTED

Quoted

“Seafarers who over the centuries fell victim to the crosscurrents, unpredictable winds, reefs and shoals in this stretch of water at the entrance to the Red Sea named it the Bab el-Mandeb—Arabic for the “Gate of Tears.” The Six Choke Points That Can Upend Global Trade [Bloomberg]

TOP STORY

National Center for Wildlife Releases 66 Endangered Species at King Khalid Royal Reserve

National Center for Wildlife, oryx

Saudi Arabia’s National Center for Wildlife has released 66 endangered species into the King Khalid Royal Reserve. [more]

 

MORE TOP STORYLINES

Saudi football gets its own Netflix documentary

Via Mohammed Sergie in semafor.com: Over six episodes, Saudi Pro League: Kickoff chronicles the 2023-24 season, highlighting the impact of Cristiano Ronaldo’s move to Al-Nassr in 2022. His arrival in Riyadh — and a $200-million-a-year contract — inspired global stars, including Brazil’s Neymar and French striker Karim Benzema, to move to Saudi, elevating the league’s market value and global reach, with matches broadcast in 180 countries. The series examines football’s deep cultural roots in Saudi Arabia, and provides insight into the lives of the newcomers to the country.

End of ‘blank cheque’ culture for Saudi consultancy

Via Gavin Gibbon in agbi.com: Saudi Arabia remains a boom town for the global consultancy industry, but experts have warned it is no longer the land of milk and honey for international operators and there is now a tighter hold being placed on budgets. The Saudi consultancy market, the largest in the GCC, expanded by 18.2 percent in 2023 with revenues reaching a record $3.2 billion. Opportunities remain, but Saudi Arabia is scaling back its trillion-dollar Vision 2030 giga-projects, and Dane Albertelli, a London-based senior research analyst focused on the industry at Source Global Research, says consultants are now having to “prove their worth”. “I think the days of the blank cheque consulting projects are over in Saudi,” he tells AGBI. “I’d say consultants need to rein in what they think and their expectations. There’s no longer an infinite money tree.”

For the OPEC+ Oil Producers, a Year of Caution Paid Off

Via Kate Dourian in agsiw.org: With all the uncertainty clouding the picture, OPEC+ adopted a cautious approach throughout 2024, maintaining production levels without change in efforts to balance the market and prop up prices that were weighed down by tepid Chinese demand and higher non-OPEC+ output, mainly from the United States. It was largely successful in preventing what some analysts expected would be a slide below $70 per barrel. Benchmark Brent crude oil averaged $80.91/bbl as of December with prices trading within a tight range between $71/bbl and $74/bbl in the final trading days of the year. The U.S. Energy Information Administration has forecast that Brent crude oil prices will end the year at an average $80.49/bbl, falling to an average $73.58/bbl in 2025.

 

MORE ON THE KINGDOM AND BEYOND

In a year, Saudi gifted students get 107 global awards, with over 582,000 students competing nationally.

Saudi Arabia's national teams who competed in international science and academic contests had tremendous success, winning 107 global awards across 25 events held between September...[via mawhiba.org]

 

‘Next Saudi Generation Program’ Launched to Support Saudi Talent in Motorsports

The Saudi Automobile and Motorcycle Federation (SAMF) has launched the Next Saudi Generation Program to support and develop Saudi talent in motorsports. The program, conducted in...[via spa.gov]

 

Iran FM says ties with Saudi Arabia are progressing despite gradual pace

Speaking in an interview with China Media Group (CMG), Araghchi said that the newly restored Iranian-Saudi ties have a lot of potential that haven’t been...[via alarabiya.net]

 

Milan star thanks Saudi fans for inspiring Supercoppa comeback

Milan forward Tammy Abraham has hailed the impact of the support in Riyadh as his side booked their place in the Supercoppa Italiana final. The Englishman...[via yahoo.com]

 

Major Saudi Food Company Exits Iran After 20 Years

The Saudi Arabian group SAVOLA has sold all its assets in Iran for 705 million Saudi riyals (approximately $188 million) and is exiting the country. SAVOLA,...[via iranfocus.com]

 

Cristiano Ronaldo Talks Life In Saudi Arabia, Growth Of Saudi Pro League

Since Ronaldo's arrival in the SPL, the league has grown leaps and bounds. Players like Karim Benzema, Neymar, Riyad Mahrez, Sadio Mane, and...[By Apratim Banerjee via si.com]

 

All 6 lines of Riyadh Metro operational with rollout of Orange Line

The Line 3 (Orange Line) covering Madinah Road would connect the east of Riyadh to its west, and extends from Jeddah Road in the west...[via saudigazette.com]

 

Which sporting events is Saudi Arabia hosting in 2025?

On the back of the busiest sporting year Saudi Arabia has ever had, punctuated by news of the nation’s successful 2034 FIFA...[By Mark Lomas via alarabiya.net]

 

US approves possible sale of torpedoes to Saudi Arabia: Pentagon

The State Department approves the possible sale of 20 MK 54 MOD 0 Lightweight Torpedoes to Saudi Arabia for $78.5 million, according...[via alarabiya.net]

 

Saudi Arabia Affirms Readiness To Participate In Syria’s Renaissance

Prince Faisal reiterated the Kingdom’s commitment to supporting Syria’s sovereignty, independence, and territorial integrity while emphasizing efforts to achieve security, stability, and prosperity for the...[via eurasiareview.com]

 

Saudi Arabia revises fees for seven services, including visa and Iqama renewals

The Saudi Ministry of Interior’s Absher Business platform has introduced updated fees for seven services offered to establishments, according to Okaz newspaper. Among the changes,...[via gulfnews.com]

 

Climate-driven sea level rise will overwhelm major oil ports, study shows

Rising sea levels driven by the climate crisis will overwhelm many of the world’s biggest oil ports, analysis indicates. Thirteen of the ports with the...[By Damian Carrington via theguardian.com]

 

Saudi Arabia embraces mortgage-backed securities

Saudi officials have signed a preliminary deal this week to issue residential mortgage-backed securities, a first for the Gulf. The Saudi Real Estate Refinance Company (SRC),...[By Valentina Pasquali via agbi.com]

 

Anti-corruption squad arrests Saudi government employees

Government employees were among 145 people arrested in Saudi Arabia over corruption charges last month. The country’s Oversight and Anti-Corruption Authority (Nazaha) conducted 1,462 “oversight visits”...[By Gavin Gibbon via agbi.com]

 

South African-built cars dominate the Dakar Rally in Saudi Arabia: Video

South Africa’s strong legacy at the Dakar Rally continues in 2025, with more than half of the vehicles at the event in Saudi Arabia being...[via youtube.com]

 

Saudi wages rise 45% as unemployment hits historic low of 3.3% in 2024

Wages for Saudis in the private sector rose by 45 per cent in 2024, as Saudi Arabia’s Ministry of Human Resources and Social Development...[By Khitam Al Amir via gulfnews.com]

 

Saudi Arabia to host 2026 Gulf Cup

Adding another tournament to a busy decade of football events, Saudi Arabia will host the 2026 Gulf Cup.  The news was confirmed on the sidelines of...[via insideworldfootball.com]

 

Commentary: The balance of power is shifting in the Middle East – and it is Turkey’s ‘full moon’ on the rise

Turkey played a pivotal role in the rebels’ surprising triumph. The operation unfolded with an extraordinary lack of the kind of violent destruction that...[By Hassan Hassan via theguardian.com]

 
 

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