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QUOTED
“The BCG report reveals a robust outlook for GCC trade, with total trade volume set to reach 2.3T USD by 2033. This growth is supported by significant expansion across multiple trade corridors, with China emerging as the largest growth market at 88B USD (5.7% CAGR), followed by Japan at 46B USD (9.4% CAGR). The analysis shows GCC’s non-hydrocarbon trade will grow by 3.5% annually, highlighting the region’s successful economic diversification efforts.” GCC trade set to grow 5.5% annually through 2033, with total trade volume reaching $2.3trln, BCG report finds [Zawya]
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TOP STORY
Saudi Arabia Railways and Italian hospitality company Arsenale have officially unveiled the final designs of the Dream of the Desert train, the first five-star luxury train in the Middle East. [more]
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MORE TOP STORYLINES
Via Barak Ravid in axios.com: President Trump’s Middle East envoy Steve Witkoff met on Tuesday in Riyadh with a senior adviser to Palestinian president Mahmoud Abbas, according to two sources with knowledge of the meeting. This was the first meeting between a Trump administration official and a Palestinian official since Novembers election. The sources said the meeting was the result of several weeks of back-channel talks between Trump administration officials and Palestinian leadership. According to one source, Saudi Arabia helped broker the meeting, which took place in its capital.
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Via Alkesh Sharma in thenationalnews.com: Saudi Telecom Company, the kingdoms biggest mobile operator, has signed a contract worth Saudi riyals 32.64 billion ($8.7 billion) with a government entity to build, operate and provide telecoms infrastructure services. STC, which offers digital products and services across the Middle East and North Africa region, did not disclose the name of the government entity. The agreement includes an 18-month preparation and execution phase, followed by a 15-year operational period for the project, STC said in a statement on Tadawul, where its shares are traded. STC shares rose more than 2.24 per cent on Tuesday after the announcement as this deal marks a significant step in enhancing the kingdoms telecom infrastructure.
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Via Arjun Vir Singh in linkedin.com: Despite a sharp 44% dip in total funding, Saudi startups pulled in $750 million this year. The dip comes down to a lack of mega deals (those over $100 million). These large funding rounds were behind much of the total capital in recent years, so the absence of mega deals in 2024 weighed heavily on the numbers. The number of deals hit a historic high—178 transactions, up 16% from last year. Early-stage funding led the way, with SEED funding surging 64% and Series A deals growing 30%.
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MORE ON THE KINGDOM AND BEYOND
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Ongoing transformation in the global screen industry has created an opportunity for GCC countries to establish themselves as prominent players. As the industry grapples with...[By Tarek Matar, Karim Sarkis and Maansi Sagar via strategyand.pwc]
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The delegation consists of nine technical teams covering various sectors, including goods, services, investment, general provisions, e-commerce, intellectual property, government procurement, rules of origin, and...[via spa.gov]
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After years of regulatory uncertainty under both Democratic and Republican administrations, Trump has pledged to protect bitcoin ownership and encourage blockchain...[By Carla Sertin via agbi.com]
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68.1m international tourists visited the Gulf Cooperation Council (GCC) countries by the end of 2023, according to data issued by the Statistical...[via arabianbusiness.com]
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Since China is the US’s third-biggest export destination for food and agricultural products after Canada and Mexico, Beijing may retaliate by...[By Martin Keulertz via agbi.com]
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A recent analysis by Capital Economics highlights the consequences of these tariffs and their broader implications for global trade dynamics. The administration's agenda to...[By Issac John via khaleejtimes.com]
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Saudi Arabia’s non-oil economy started 2025 on a high as business conditions improved substantially. This improvement was largely due to the fastest increase in total...[By Yara Abi Farraj via economymiddleeast.com]
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Some of the Kingdom’s prominent military branches are participating in the drills, including forces from the Presidency of State Security and the Saudi Arabian National...[via arabnews.com]
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Strategic inbound and domestic M&A activity in the region surged 88 per cent year-on-year to reach $36 billion during the first 10 months...[By Tala Michel Issa via arabianbusiness.com]
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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]
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"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]
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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]
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Figures from the General Authority for Statistics released in 2023 show that 63 percent of the Kingdom’s population is under 30 years old, and the government...[By Nadin Hassan via arabnews.com]
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Pakistan has signed an agreement with the Saudi Fund for Development to defer a $1.2 billion payment on the country's oil imports by one year,...[By Alex Kimani via oilprice.com]
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The Kingdom of Saudi Arabia has allocated $78 billion for defense spending in 2025, up from $75.8 billion spent in 2024, Governor of the General...[By Agnes Helou via breakingdefense.com]
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Valued at more than $200 billion globally – larger than the film and music industries combined – the gaming industry has evolved far...[via linkedin.com]
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If you take the words of Turkish ruling elites at their face value, Turkey, first and foremost, in the mid and long term, is interested...[via csis.org]
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The United Arab Emirates wants to build and consult on nuclear projects around the world, with the US as the fastest-growing market, the head of...[By Malcolm Moore via ft.com]
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The...[via pwc.com]
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Gordon Brothers, the global asset experts with headquarters in Boston, US, has announced that they have been appointed as the exclusive selling agent for a...[via zawya.com]
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Careem has launched a new remittance feature through Careem Pay that offers zero-fee international transfers and better-than-market exchange rates, challenging traditional exchange houses in...[By Tala Michel Issa via arabianbusiness.com]
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