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Saudi News Update: Week 15


A businessman is staying up to date by reading the news on a tablet

This week, the International Monetary Fund (IMF) officially opened its first regional office in Riyadh. This announcement coincided with a conference titled ‘Industrial Policies to Promote Economic Diversification’. This was organised in collaboration with the Saudi Ministry of Finance.


In other news, Saudi Arabia’s business environment has seen a drastic shift towards the use of AI as a critical tool. Rami Mourtada, Director of Boston Consulting Group, said companies in Saudi Arabia should set their AI agendas imminently and prepare to adapt to this dynamic evolution. 

 

Economy, Budgets and Finance

Arab News:  Saudi Arabia’s business landscape witnessing a dynamic shift as AI adoption rises. Read here


Saudi Gazette: IMF opens first regional office in Riyadh. Read here


Arab News: Saudi Arabia’s non-oil exports surge by 4.4%: GASTAT. Read here


Government and Royal Family

Al Arabiya:  Saudi Arabia’s King Salman leaves hospital after routine checkup: Official statement. Read here


Al ArabiyaTop US diplomat to visit Saudi Arabia this weekend following China trip. Read here


Arab News: Saudi citizens granted 5-year visas in EU-Schengen rule updateRead here


Defence and Security

Arab News: Saudi defense minister, British counterpart discuss military escalation in region  . Read here


Middle East Monitor: Report: Saudi was Middle East’s largest arms purchaser in 2023. Read here


Arab News: Saudi air force joins several allies in UAE for start of multinational military exercise Desert Flag. Read here


Commercial

Aramco : Aramco in talks to acquire 10% stake in Chinese company Hengli Petrochemical. Read here


NEOM: Marriott International signs agreement with NEOM to bring the Ritz-Carlton reserve to Trojena, the mountains of NEOM. Read here


Al Arabiya: Saudi Arabia’s booming hospitality sector to add 320,000 hotel rooms by 2030. Read here


Arab News: How Saudi Arabia’s new economic cities can make manufacturing more sustainable. Read here


Social

Arab News : 48th Saudi relief plane for Palestinians.  Read here


Arab News: Saudi Arabia launches witness protection centerRead here


Arab News: Ivan Rakitic: Luka Modric moving to Saudi Arabia would be ‘amazing’Read here

 

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