Global Scans · Saudi Arabia · Weekly Summary

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DRIVER: Saudi Arabia could see some tumultuous economic policy changes provoked by the lower oil price era and the emerging challenge from renewable energies. It also faces threats from Middle East turmoil.

• The US has 13,500 troops in Kuwait, 10,000 US Force in Qatar, more than 2700 troops in Saudi Arabia, and 3500 US personnel in the UAE. Eurasia Review
• Renewable capacity for hydrogen production is concentrated in China, Saudi Arabia and the US, which together are expected to account for more than 75% of renewable capacity for hydrogen production by 2028. Global Trade Review (GTR)
• The world's biggest crude exporter is trying to transition its economy away from fossil fuels under Crown Prince Mohammed bin Salman's Vision 2030 reform agenda, which aims to position Saudi Arabia as a tourism, business and sports hub. The Telegraph
• Over the past few years, Saudi Arabia has worked hard to improve regulations, establish entities to support entrepreneurship and encourage its own population to explore startup opportunities. Wamda
• The geospatial infrastructure in Saudi Arabia is set to receive a boost with the launch of an open data portal that will use geographical information systems to achieve sustainable development goals. ArabNews
• Consider the Axis of Resistance groups Iran uses to project power throughout the Middle East, or Turkey's involvement in the conflict in Libya, or how Saudi Arabia and the United Arab Emirates have become entangled in the conflict in Sudan. Vox
• Oil dropped after Saudi Arabia cut official selling prices for all regions, underscoring a worsening global outlook and outweighing concern over Red Sea tensions and supply disruptions in Libya. Advisorpedia
• Another reason could be intra-regional rivalry, with Saudi Arabia wanting to compete with neighbouring petro-states such as the United Arab Emirates, Qatar and Bahrain, who have also established themselves as sporting hubs. BBC Sport
• Washington is expected to heighten pressure on allies like Saudi Arabia, Israel, and the United Arab Emirates to restrict cooperation with China, especially in strategic technologies such as artificial intelligence. Middle East Institute
• With the recent expansion and entrance of new members, including Iran, Egypt, Ethiopia, Saudi Arabia, and the United Arab Emirates, BRICS will double its global oil production and represent more than half of the world's population. investing.com
• Oil markets are set to remain in deficit through to the end of 2025 unless Saudi Arabia and its allies - which launched new production cuts this month - boost output significantly. Yahoo Finance
• Though Saudi Arabia is an absolute monarchy, leaders pay close attention to public opinion, which could further influence Riyadh's actions as the Gaza and the Red Sea crises evolve. DAWN.COM
• The Smelter DFS will assume the export of PGM concentrate from the Waterberg Project in South Africa to a port facility in Saudi Arabia and will encompass options related to infrastructure, location, technical specifications, capital, and operating costs. Yahoo Finance
• Saudi Arabia is concerned that a tough response to the Houthi threat could lead to a reloaded war along its border with Yemen, a concern shared by Washington's other Gulf allies. Eurasia Review
• Saudi Arabia, through its Vision 2030 plan and the massive NEOM project, aims to be a hub for innovation, technology, and sustainable development. Middle East Institute
• Federation Internationale de Football Association (FIFA), the body governing international soccer competitions, will launch its own nonfungible token (NFT) collection ahead of the 2023 Club World Cup in Saudi Arabia in collaboration with blockchain firm Modex. TradingView
• The strategic 50/50 joint venture will have exclusive access to approximately 48,500 km 2 of land in the underexplored Arabian Shield to explore for copper, gold, silver and other metals in support of Saudi Arabia's Vision 2030. Morningstar, Inc.
• Saudi Arabia has stated, while going through the motions of caring about the Palestinians, that the normalization process with Israeli will continue. Begin-Sadat Center for Strategic Studies
• Saudi Arabia is taking rapid steps to enhance the future of the electric car industry towards achieving its national strategy in Vision 2030, by reducing carbon emissions and generating 50% of its electrical energy from renewable sources.
• Israel will have to accept a two-state solution if it wants to normalise ties with Arab nations, including Saudi Arabia. Al Jazeera
• The Fifa World Cup in Saudi Arabia, if played in the summer of 2034, would see temperatures of around 50 C which will significantly increase the risk of heat stress for players, families and supporters, and ruling out some people from going. The Guardian
• The number of people aged greater than 65 years per 100 people aged 20-64 years is expected to almost double in The Kingdom of Saudi Arabia between 2020 and 2030. BioMed Central
• The strategic 50/50 joint venture will have exclusive access to approximately 48,500 km2 of land in the underexplored Arabian Shield to explore for copper, gold, silver and other metals in support of Saudi Arabia's Vision 2030. Junior Mining Network

Last updated: 05 February 2024