QUOTED

Quoted

“Property prices in Riyadh have surged since the pandemic, with the cost of a house now almost 81 per cent higher than in 2020…Apartment prices in the city have increased 56 per cent over the same period… At the moment, 63 per cent of Saudis own their own home, up from 47 per cent in 2016… But the figure in Riyadh, where 4.4mn of 18.8mn Saudis live, is far lower at 53.2 per cent, according to the latest census data, taken from 2022.” Ahmed Al Omran, Riyadh’s property boom puts home ownership beyond reach of many Saudis [Financial Times]

TOP STORY

Saudi driver Yazeed Al-Rajhi wins Dakar Rally!

Dakar 2025, Yazeed Alrajhi

Yazeed Al Rajhi has won the 2025 Dakar Rally in the car category becoming the first Saudi overall champion ever in the world’s preeminent rally race.  [more]

 

MORE TOP STORYLINES

IMF lowers 2025 Mena growth forecast on slowing Saudi economy

Via Kyle Fitzgerald in thenationalnews.com: The International Monetary Fund on Friday lowered its growth forecast for the Middle East and North Africa this year, largely reflecting a slowdown in Saudi Arabias economy due to Opec+ production cuts. The broader Mena economy is projected to grow by 3.5 per cent this year, according to the IMFs latest World Economic Outlook, half a percentage point down from its October update. Saudi Arabia, the biggest Arab economy and Opec’s top oil producer, is forecast to grow by 3.3 per cent in 2025, a downwards revision of 1.3 percentage points. Its economy is projected to grow by 4.1 per cent in 2026, which is down by 0.3 percentage points from the funds October forecast.

LIV Golf announces multiyear media rights deal with Fox Sports

Via Russell Leung in cnbc.com: LIV Golf announced a multiyear media rights agreement with Fox Sports to broadcast the pro golf tour to U.S. viewers, starting in February. The tour’s 14-tournament season will air on Fox, FS1 and other Fox networks, and will also stream on the Fox Sports and LIV Golf+ apps. The LIV Golf League features 13 teams of four golfers each, including two-time major champions Jon Rahm and Bryson DeChambeau. The news comes a day after the Saudi-financed sports organization named Scott O’Neil, the former CEO of Merlin Entertainments and Harris Blitzer Sports & Entertainment, as its new CEO. He replaces Greg Norman, the tour’s first commissioner and CEO, who will remain informally involved with LIV. LIV Golf was previously broadcasted on the Nexstar Media Group-operated CW Network. The upstart golf league struggled to bring in big audiences on The CW.

Christina Aguilera, Michael Buble perform at Riyadh’s Joy Awards

Via Sulafa Alkhunaizi in arabnews.com: The annual Joy Awards honored Arab talent with musical performances that serenaded a star-studded guest list at Riyadh’s Kingdom Arena on Saturday. The award show opened with a concert by Christina Aguilera, who performed “The Voice Within” and her hit song “Genie in a Bottle.” Musical icons Mohammed Abdo and Andrea Bocelli performed together, blending Gulf and Italian sounds. Lebanese singer Wael Kfoury and Canadian artist Michael Buble collaborated on a striking rendition of Frank Sinatra’s “My Way,” performed in both English and Arabic. Amanda Seyfried, Morgan Freeman and Matthew McConaughey were among the international and local celebrities who showcased their dazzling ensembles on the ceremony’s iconic lavender carpet on Saturday.

 

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Gulf sovereign wealth funds drive $36bn+ mega-deal boom as UAE, Saudi buck global M&A slowdown

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Saudi Arabia cracks down on employers over health insurance violations

The Saudi Arabia Council of Health Insurance (CHI) has announced penalties against several employers for failing to meet mandatory health insurance...[By Roxanne Libatique via insurancebusinessmag.com]

 

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Saudi Arabia’s Crown Prince Mohammed bin Salman received Germany’s President Frank-Walter Steinmeier at Al-Yamamah Palace in Riyadh on Monday.  The two leaders held an official session...[via arabnews.com]

 

Oil prices: The US is in a ‘delicate dance’ with Saudi Arabia

"Ultimately, we're going to see the seasonal dance: Gas prices are going to go up this spring regardless of tariffs or not, they're going to...[By Julie Hyman and Josh Lipton via yahoo.com]

 

Saudi-PIF backed Umm Al Qura moves ahead with IPO to support $26bn Masar project in Makkah

The IPO proceeds are to be deployed for funding the infrastructure, land settlements, and development of the MASAR Destination, a major Makkah redevelopment project valued...[via arabianbusiness.com]

 

Saudi Arabia champions youth as it drives talent development to fuel Vision 2030

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Saudi Arabia Defers $1.2B Oil Payment By Pakistan

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Saudi Arabia increases defense spending to $78B in 2025

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How PIF is supercharging the new golden age of gaming

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The Gulf States in a New Syria

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Saudi-GCC non-oil commodity exports soar to $2.5bln

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Saudi economy expected to grow 3.3% in 2025: IMF

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Hamas frees hostages, Israel releases Palestinian prisoners on day one of ceasefire

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Diplomacy Is All Hamas Has Left in the Arsenal

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