The 966

Episode 105! Amjad Ahmad, a leading venture capitalist and seasoned investment professional with extensive experience in VC and private equity in emerging markets, joins The 966. Amjad discusses the VC ecosystem in Saudi Arabia, the MENA region, and globally today. In addition to over two decades of experience investing in the region, Amjad is also chairman and founding director of the EmpowerME initiative at the Atlantic Council, a program which empowers entrepreneurs, women, and the private sector in the region and which oversees in collaboration with Georgetown University the WIn Fellowship, a fully sponsored year-long program for female entrepreneurs from the region. Amjad also sits on the board of directors for several companies in the US and across the region. Before the discussion, the hosts discuss crypto in the MENA region, an incredible report on giga-projects from Knight Frank highlighting growth in Saudi Arabia, and much more in the concluding Yallah! segment.

6:50 - Richard's One Big Thing is crypto in the MENA region and the region's growth as a player in that space. Saudi Arabia is the fastest growing crypto economy globally amid a regional drive in the sector. The kingdom led globally with a 12% increase in crypto transaction volume reaching nearly $31 billion from July 2022 through June 2023, according to an industry report released Tuesday cited by Al Monitor.

17:27 - Lucien's One Big Thing is a recent report from the real estate firm Knight Frank on Saudi Arabia, which included an excellent update on the progress and top-level figures of Saudi Arabia’s giga-projects. This one is available online and published by 2x previous guest of The 966, Faisal Durrani, who is partner and head of MENA research for the global real estate firm. The firm reviews how the total value of real estate (and infrastructure) projects since the launch of Saudi Arabia’s National Transformation Plan in 2016 has crossed US$ 1.25 trillion. "The phenomenal transformation in 2022’s fastest- growing major global economy is clearly visible across the entire urban landscape, with the Kingdom’s Giga projects set to deliver a new urban future for Saudi Arabia through a transformed and vastly expanded residential, office, retail, hospitality and industrial offering, designed to support the projected population growth which is expected to top 50 million by 2030 (government forecasts) as well as the arrival of 100 million international visitors by 2030," the report said.

24:18 - Amjad Ahmad, a leading venture capitalist and seasoned investment professional with extensive experience in VC and private equity in emerging markets, joins The 966.

1:24:30 - Yallah! 6 top storylines to get you up to speed on Saudi Arabia this week.

Saudi Arabia said on Monday it has decided to end light-touch oversight of its nuclear activities by the U.N. atomic watchdog and switch to full-blown safeguards, a change the agency has been demanding for years.

Soudah Peaks is Saudi’s new luxury mountain destination opening in Aseer in 2033. Spanning across 627 square kilometres, it will sit 3,015 metres above sea level on the highest mountain peak in Saudi and will have 2,700 keys, 1,336 residential units, over 30 attractions and 80,000 square metres of commerical space.

As many as 500 leaders, sector experts and officials from 120 countries are expected to attend the World Tourism Day in Riyadh on September 27-28, the organising committee for the events said. World Tourism Day 2023 will be held under the slogan “Green Tourism and Investment”.

Saudi traffic authorities have said a visitor is allowed to use a foreign driving licence for one year in the kingdom, which is seeking to attract more tourists as part of efforts to diversify its oil-reliant economy.

In a significant move toward economic diversification and revolutionizing the national transportation landscape, the Economic Cities and Special Zones Authority has granted Lucid Motors a permit to operate a manufacturing unit in King Abdullah Economic City.

The Saudi foreign minister addressed the UN General Assembly on 24 September in a speech calling for the establishment of a Palestinian state and a “just, comprehensive solution to the Palestinian issue” while criticizing Israel for its ongoing illegal building of Jewish settlements in the occupied West Bank.

Gautam Sashittal, the CEO of Riyadh's financial district that has redefined Riyadh’s skyline and is the city’s most sought-after business address and lifestyle destination, joins The 966 podcast. The district is home to many of Saudi Arabia’s largest companies and regional headquarters of international corporations doing business in the region, as well as the Kingdom’s finest restaurants and real estate. KAFD is now owned by Saudi Arabia’s PIF whose headquarters, the PIF tower, is now located in the Financial District. Gautam took over as CEO of KAFD in January 2021, before that, he was CEO and COO of the Dubai Multi Commodities Centre DMCC Dubai Multi Commodities Centre, Which was eight times crowned ‘Global Free Zone of the Year’.  Before the discussion, the hosts discuss the upcoming Saudi National Day, the Crown Prince's interview with Fox, and much more...

2:35 - Richard's One Big Thing is the upcoming celebration of Saudi Arabia's National Day, a Kingdom-wide holiday celebrating Saudi Arabia's rich history and unique culture - as well as its national identity.

7:53 - Lucien's One Big Thing is HRH Crown Prince Mohammed bin Salman's interview with Fox News and reacting to some themes and takeaways from the momentous conversation - his first in English with an American news channel. The interview was billed in advance by a media release as “no holds barred." The Crown Prince discussed Vision 2030, the economy, foreign policy, Iran, Israel, the United States, oil, Russia’s invasion of Ukraine, legal reforms in Saudi Arabia and much more. Lucien notes that we don’t get a lot of these interviews and this is the first ever of its kind, so as such, it was fascinating to get the rare insight into the Crown Prince's thinking and vision.

22:28 - Gautam Sashittal, the CEO of #Riyadh's financial district that has redefined Riyadh’s skyline and is the city’s most sought-after business address and lifestyle destination, joins The 966 podcast. The district is home to many of Saudi Arabia’s largest companies and regional headquarters of international corporations doing business in the region, as well as the Kingdom’s finest restaurants and real estate.
KAFD is now owned by Saudi Arabia’s public investment fund (PIF) whose headquarters, the PIF tower,  is now located in the Financial District.
Gautam took over as CEO of KAFD in January 2021, before that, he was CEO and COO of the Dubai Multi Commodities Centre DMCC Dubai Multi Commodities Centre, Which was eight times crowned ‘Global Free Zone of the Year’.

55:47 - Yallah! 6 top storylines on Saudi Arabia this week to get you up to speed this week.

•As part of the inaugural Cityscape Global meeting recently held in Riyadh, promoters of NEOM were on hand to present plans for the TROJENA and OXAGON segments of their $500 billion NEOM megaproject.

•Saudi Arabia welcomed positive results from discussions to reach a road map supporting the peace process in Yemen, the kingdom's foreign ministry said in a statement on Wednesday, after Houthi negotiators' talks with the Saudis in Riyadh.

•Saudi Arabia officially unveiled "The Garage," its latest addition to the thriving startup ecosystem on Monday. Situated within the King Abdulaziz City for Science and Technology in Riyadh, The Garage spans an impressive 28,000 square meters, earning the title of the largest innovation district in the Middle East.

•Saudi nationals employed in the private sector have witnessed a substantial 45% increment in their salaries over the past five years, as per the data released by the Kingdom’s National Labor Observatory.

•Founded in 1955 as the European Cup, the UEFA Champions League (UCL) represents the pinnacle of European club soccer, with the best teams from across the continent all striving to lift the famous trophy. 

•Red Sea Global has teamed up with British adventurer and TV presenter Bear Grylls to bring his adventure and survival brand to Saudi Arabia.

Author David Rundell joins to discuss King Salman's incredible impact on Saudi Arabia. King Salman has played an enormously pivotal role for the Kingdom of Saudi Arabia and the development of the modern Saudi state. Before the conversation, the hosts discuss an archaeology summit taking place in Al Ula this week, an interesting and exciting new investment made by Saudi Aramco's VC arm, Wa'ed, into a company that is building new homes using 3D printing, and much more as always in the program's Yallah! segment.

7:36 - Richard's One Big Thing is AlUla's invite-only AlUla World Archaeological Summit taking place this week. The three-day summit’s program of panels, discussions and excursions commenced yesterday at Maraya Concert Hall, the ancient region’s giant mirror-cladded multipurpose venue located amid a wealth of archaeological treasures stemming from the Neolithic era to the early 20th century. 

16:26 - Lucien's One Big Thing is Aramco's VC arm Wa'ed and its investment into an exciting, California-based 3D homebuilding company called Mighty Buildings. The company claims its proprietary printed material, made of 60% recycled glass, is five times the strength of concrete, 70% the weight and produces fewer carbon emissions during manufacturing. It’s also rated for winds up to 150 miles per hour — hurricane-force, in other words — and compliant with the California Building Code, including Title 24 Energy requirements and other regulatory standards. Mighty Buildings employs ultraviolet light to cure its material off-site. This allows for “highly refined” and “unique” shapes with a range of customization options, the startup says, while reducing waste as only the material that’s required is cured.

28:36 - Author David Rundell joins to discuss King Salman's incredible impact on Saudi Arabia. Rundell spent 15 of his 30 total years in service as a diplomat in Saudi Arabia, including as Chief of Mission. Lately, Mr. Rundell has been active in providing commentary and analysis in the media -- two items from David which we’ve referenced recently on The 966 include his recent piece for the online publication Unherd, entitled “How MBS wins friends and influences people,” and for Newsweek earlier this year, entitled Saudi Arabia's True Role in 9/11, in which he and fellow author Michael Gfoeller dispel some common myths on Saudi Arabia’s connection to those attacks.

56:44 - Yallah! Top storylines on Saudi Arabia this week ---

•Saudi Arabia is working on its own major commercial cruise line brand designed for those with “Arabian preferences.” AROYA Cruises sets sail next year with a single ship, formerly known as World Dream, the last remaining ship of the struggling Dream Cruises company.

•The United States and Saudi Arabia are in talks to secure metals in Africa needed to help them with their energy transitions, the Wall Street Journal reported on Sunday, citing people with knowledge of the talks.

•Noor Riyadh, the Largest Light Art Festival in the World, will return for its third edition in Riyadh, with the festival running from November 30 to December 16, 2023, and the exhibition from November 30, 2023 to March 2, 2024.

•Saudi Arabia's new Red Sea International airport (RSI) is on track to open this year along with the first three resorts at The Red Sea destination and Saudi Arabian Airlines (Saudia) will become the first airline to operate out of the airport.

•Saudi Arabia's new Red Sea International airport (RSI) is on track to open this year along with the first three resorts at The Red Sea destination and Saudi Arabian Airlines (Saudia) will become the first airline to operate out of the airport.

•The company formed to build the kilometre-high Jeddah Tower in the Saudi city of Jeddah has restarted work on the scheme and has drawn up a list of contractors who may complete the structure.

Episode 102! Rawan Hashem from the data insights firm Carma joins The 966 to discuss evolving media perspectives of Saudi Arabia and Vision 2030. Before the conversation, the hosts discuss the new organization in Saudi Arabia, called Hevolution, and its $1 billion mission to advance humanity's fight against aging based on a recent Wall Street Journal article from this week. Then the hosts discuss the recent data out on Saudi Arabia's tourism industry which show the Kingdom's important new sector is growing rapidly. The hosts conclude as always with six top storylines to on Saudi Arabia this week.

4:23 - Richard's One Big Thing this week is Hevolution, and its $1 billion mission to advance humanity's fight against aging based on a recent Wall Street Journal article from this week.

13:58 - Lucien's One Big Thing this week is Saudi Arabia's tourism industry, which has put up some impressive numbers in 2023. Saudi Arabia only very recently rolled out tourist visas for visitors on September 28, 2019, months before the pandemic. Tourism revenues in Saudi Arabia tripled during the first quarter of 2023, reaching about $9.86 billion, according to the state-run Saudi Press Agency (SPA).
The Kingdom has recovered significantly since the COVID pandemic, hosting approximately 7.8 million tourists during the first quarter of the year. That number represents a 64% increase in the number of tourists so far in 2023, compared to the pre-COVID record year in 2019.

27:06 - Rawan Hashem from the data insights firm Carma joins The 966 to discuss evolving media perspectives of Saudi Arabia and Vision 2030.

1:06:00 - Yallah!

•The Saudi Esports Federation has announced a three-year partnership with American fast food company KFC. The partnership will focus on supporting local esports talent in the region by providing more opportunities to advance to international esports events.

•Saudi is planting 80 million trees in the Saudi Royal Reserves. The new forests will protect wildlife and are part of eco-tourism developments and the goal to attract 2.3 million tourists by 2030

•The second edition of the NEOM Beach Games is scheduled to start on October 21 and continuing to the end of November.

•Saudi Arabia and Russia said they would extend their cuts in oil supplies through for the rest of 2023.

•Saudi Arabia and Iran have reached a “groundbreaking” deal to resume home-and-away football matches between club sides after seven years of competing in neutral venues, the Asian Football Confederation (AFC) said on Monday.

•Saudi Arabia’s Public Investment Fund will fully acquire the Saudi Iron & Steel Company (Hadeed) from Saudi Basic Industries Corporation (Sabic) in a $3.3 billion deal, as the kingdom seeks to accelerate its industrial development.

Colin Foreman, journalist and editor for the Middle East Economic Digest (MEED), joins The 966 to talk about construction, giga-projects, and Saudi Arabia's economic development. MEED is a leading resource for executives with a highly-respected publication for the MENA region. Before the conversation with Colin, the hosts discuss the latest with the Saudi Pro League and dispelling some myths and facts about the growing football league in the Kingdom, an update on the New Murraba project in Riyadh that promises to change the face of the city, and so much more in the program's concluding Yallah! segment.

4:20 - Richard's One Big Thing is the Saudi Pro League's rise and some interesting updates and facts about the Pro League, which made its mark in the transfer season this year and, while on the rise, is nowhere close to outspending other leagues for players. The hosts also discuss the latest in big name signings and the new coach of the Saudi national team, which stands to benefit from the influx of stars into the national league. 

21:10 - Lucien's One Big Thing is an update on the New Murraba project and the importance of the recent news that the project's planners will bring on Bechtel, the world's leading construction and project management firm, for a PMC role to bring the project to fruition. The project was announced February 16th with the launch of the New Murabba Development Company, and the project is massive – it aims to develop the world’s largest modern downtown in Riyadh. 

38:34 - Colin Foreman, journalist and editor for the Middle East Economic Digest (MEED), joins The 966 to talk about construction, giga-projects, and Saudi Arabia's economic development.

1:18:41 - Yallah! 6 top storylines and topics from the week on Saudi Arabia...

•The Kingdom of Saudi Arabia assumed command of a multinational task force that monitors merchant shipping through key strategic chokepoints during an indoor ceremony here Aug. 27.

•New Saudi Arabia coach Roberto Mancini is counting on the recent influx of global stars to the Saudi Pro League to help the local players improve.

•Saudi Arabia’s Ades International Holding is set to list in Riyadh, a deal that’s set to be the kingdom’s largest initial public offering this year, according to reports. 

•White House officials have notified the Israeli government that a possible normalization deal with Saudi Arabia will require them to make “significant concessions” to the Palestinians, four US officials with knowledge of the matter told Axios.

•Saudi Arabia is considering bids to build a nuclear power station from countries including China, France and Russia as the kingdom seeks to sway the US over a sensitive security pact.

•Saudi Arabia’s newest airline, Riyadh Air, plans to focus on the niche market for flights to and from the kingdom rather than competing with its Gulf neighbors’ vast hubs, its chief executive has said, in an explanation of its “super aggressive” growth plans.

Nadia Maqbool Al-Lawatiya, a leading Riyadh-based architect and urban designer who is closely familiar with Salmani architecture, joins The 966 to share her journey and discuss some of the themes and thinking behind the new style emerging from Saudi Arabia. Nadia listened to a previous episode of The 966 on Salmani architecture and joins for this episode to discuss the style and answer some questions from the hosts. We learn about the underlying thinking and strategic vision behind the style, and explore some of its more distinctive elements. Before the conversation with Nadia, The 966 hosts reflect on 100 episodes of The 966 and note that this is just the beginning. The hosts also discuss last week's inaugural The 966 golf invitational and, just one day after their golf outing, Lucien's amazing hole-in-one!

MESSAGE FROM THE HOSTS: "The hosts want to thank the loyal, growing listenership and viewership of the program for making it a success and number one in the space. There are tens of thousands of you around the world in over 100 countries and that number keeps growing. It's a privilege and genuinely fun to be doing this - thank you!"

10:30 - Richard's One Big Thing this week is an update on the mining and minerals strategy that Saudi Arabia is executing on now.

26:12 - Lucien's One Big Thing is Saudi Arabia's invitation to join the BRICS group, and some thoughts on the pros and cons of Saudi Arabia joining the group.

45:40 - Nadia Maqbool Al-Lawatiya, a leading Riyadh-based architect and urban designer who is closely familiar with Salmani architecture, joins The 966.

1:31:32 - Yallah! 6 top storylines on Saudi Arabia to get you up to speed heading into the weekend.

•Saudi Arabia and the United Arab Emirates have bought thousands of Nvidia GPUs as they develop generative AI applications

•SRMG Ventures, the venture capital arm of Ryadh-based conglomerate Saudi Research and Media Group, has announced a small but significant $5 million investment in Anghami

•Axiom Space has raised $350 million in a funding round led by Saudi Arabia's Aljazira Capital and Korean healthcare firm Boryung as the startup works with NASA

•A falcon from a Saudi breeding facility has become the most expensive in the Middle East, fetching a record $134,000 at auction

•More than 7 million students in Saudi Arabia returned to school on Sunday, resuming their studies after a two-month summer vacation

•A video published by the UAE-based The National shows Mecca’s Clock Tower, one of the tallest buildings in the world, being dramatically struck by a bolt of lightning amid heavy rains that caused localized flooding.

Episode 99! Princess Mashael bint Saud Al-Shalan, Founding Partner, Aeon Strategy, joins The 966 to discuss her work heading one of the leading consultancies in Saudi Arabia in the field of sustainability. Aeon Strategy played a key role in support of the Kingdom's Net-Zero targets under the Saudi Green Initiative and the Circular Carbon Economy Framework. The company aims to lead Saudi Arabia towards a sustainable future by designing and scaling pioneering, science-backed, researched based business and policy solutions that create and sustain equal benefits for the nation’s economy, ecology and society. Before that conversation, the hosts the latest with The Line at Neom in Saudi Arabia, how Saudis are flocking to see 'Barbie', and so much more in the program's concluding 'Yallah' segment. 

8:50 - The hosts the latest with The Line at Neom in Saudi Arabia. The Line is ambitious, but that's the point -- and Saudi Arabia is not shying away from building a city that is unlike others in the world. The Line is a smart city under construction in Saudi Arabia in Neom, Tabuk Province. The city is designed to have no cars, streets, or carbon emissions. It will be 170 kilometers (110 miles) long and 200 meters (660 feet) wide. The Line is expected to house 9 million people. The Line is part of the Saudi Vision 2030 project, which aims to create a more sustainable and diverse Saudi Arabia. The government set a completion target for 2025, but experts are skeptical. The project's success depends on factors such as financing and technology. Construction on The Line began in the first quarter of 2021 and is estimated to cost between $100 and $200 billion.

23:47 - Saudis are flocking to see 'Barbie', with many wearing pink. The film has sparked a conversation in Saudi society about its themes and meaning. Saudi Arabia until recently banned movie theaters in the Kingdom, but this month permitted “Barbie” in its cinemas earlier this month and "many moviegoers got into the spirit of things, wearing pink abayas—the long robe overdress traditionally worn in the Arabian Gulf region—and munching pink éclairs," the Wall Street Journal noted.

According to the leading local English language news outlet Arab News, last Thursday, on the opening day in Riyadh, movie goers “descended on cinemas wearing various shades of pink and their funkiest accessories, demonstrating how the popularity of the film has affected local audiences.”

Neighboring Kuwait has banned “Barbie,” while there is heated debate underway in Lebanon on whether to do so.

34:31 - The 966 speaks with Princess Mashael bint Saud Al-Shalan, Founding Partner, Aeon Strategy.

1:34:00 - Yallah! 6 top storylines to get you up to speed heading into the weekend...

•Hilton Plans to More Than Quadruple its Presence in Saudi Arabia

•The Saudi Data and Artificial Intelligence Authority (SDAIA), in cooperation with Google Cloud, continues to train 1,000 women

•Saudi Arabia has appointed its first ambassador to the Palestinians

•GoDaddy, the web hosting provider has announced the launch of its .AI domain extension in Saudi Arabia

•Cristiano Ronaldo has yet again left the competition behind as the five-time Ballon D'Or winner was named Instagram's top earner for the third year in a row

•Saudi Arabia Passes Law Requiring USB-C Charging on New iPhones, Androids, and Laptops.

Episode 98! Dr. Bader Al-Saif, founding President at Al-Saif Consulting and Assistant Professor at Kuwait University joins The 966 to talk about Saudi Arabia as an emerging economic and diplomatic power in a changing region. Al-Saif is also a visiting researcher at Georgetown University, where he completed his PHD in history, and a non-resident fellow at the Arab Gulf States Institute in Washington (AGISW). Al-Saif is frequently quoted in the largest publications and media outlets around the world. The 966 hosts discuss with Bader Saudi Arabia's ambitions and the context of its recent domestic and foreign policy decisions in its own history as a young nation. Before that conversation, the hosts revisit Saudi-Israel relations after discussing it last week; a lot has changed in just the previous few days since they discussed Saudi-Israel normalization reports and rumors last week. Then, hosts discuss Lucid Motor's recent earnings call and some surprise details revealed by its CEO beyond the latest financial figures for the PIF-backed company. The hosts conclude as always with the Yallah segment, with six top storylines from the week on Saudi Arabia.

9:20 - Saudi-Israel normalization. A new report from the WSJ said the U.S. and Saudi Arabia have agreed to the outlines of a deal. But many obstacles still remain...The US and Saudi Arabia continue to work on a framework aimed at Saudi recognition of Israel in exchange for US security guarantees for Riyadh. The Biden administration said in response to the report that there's still a long way to go. The hosts discuss the current state of the talks and why the talks alone are a good thing for all parties and create an uptick in U.S.-Saudi diplomacy. 

27:57 - Lucid's recent earnings call revealed the company's current financial position. It also revealed its road ahead, including plans for a factory under construction now in KAEC in Saudi Arabia, the forthcoming SUV, and much more.

"We are not limited by our ability to manufacture. Most of the supply chain has now come through out of the COVID era," CEO Peter Rawlinson told Reuters. "We are limited by our ability to sell the cars right now, and that is my key focus."

44:14 - Dr. Bader Al-Saif, founding President at Al-Saif Consulting and Assistant Professor at Kuwait University joins The 966 to talk about Saudi Arabia as an emerging economic and diplomatic power in a changing region. Al-Saif is an assistant professor of history at Kuwait University and a non-resident fellow at the Arab Gulf States Institute in Washington. He holds a PhD with distinction from Georgetown University, a Master of Education and a Master of Theology, both with honors from Harvard University, and a Master of Law with honors from the School of Oriental and African Studies, University of London. He graduated summa cum laude from Boston College with a double major in political science and history.

1:35:05 - Yallah! 6 top storylines on Saudi Arabia to get you up to speed headed into the weekend...

•China is said to be in support of a third round of talks to find a framework for peace in Ukraine after a meeting of senior officials from about 40 countries in Saudi Arabia over the weekend.

•The long-awaited operation to resolve the issue of the ageing tanker SFO Safer, currently decaying off the coast of Yemen, is set to end in the coming days, with over 96 percent of the ship’s oil cargo transferred to a replacement tanker, the Yemeni government said on Wednesday.

•After pumping tens of billions of dollars into high-profile global investments, the $700 billion Public Investment Fund is accelerating spending at home, often on obscure startups and projects that it plans to own and operate.

•US oil production this year will rise faster than previously expected according to a new government forecast. Higher-than-expected well productivity and rising crude prices will help boost US production to a record 12.8 million barrels a day in 2023, up from a previous forecast of 12.6 million, according to a monthly report from the US Energy Information Administration released Tuesday.

•IMG has locked a series of international broadcast deals for the Saudi Pro League’s (SPL) 2023/24 season. The confirmed deals span over 130 territories, including what has been described as a “landmark deal” with DAZN in multiple territories (Austria, Belgium, Canada, Germany, and the UK) as well as Sport TV (Portugal), La 7 (Italy), Marca.com (Spain), and Canal+ (France).

•More than 3,000 Marines and sailors arrived in the Middle East on Sunday in a deployment meant to deter Iran from seizing and harassing merchant ships near the Strait of Hormuz, according to U.S. Naval Forces Central Command.

American journalist, author, media executive, and pulitzer prize winner Karen Elliott House joins The 966. Elliott House discusses her recent work, a paper entitled 'Saudi First', for the Belfer Center at Harvard's Kennedy School of Government, as well as her experiences traveling to and from Saudi Arabia for decades and her views on Saudi Arabia as an emerging regional power. Elliott House has served as publisher of The Wall Street Journal, former senior vice president of Dow Jones, and on the board of the Rand Corporation. She currently is a senior fellow at the Belfer Center for International Affairs at Harvard University’s Kennedy School of Government.

In addition to writing a series of articles on Saudi Arabia for the journal in 2007, Karen is author of the book, On Saudi Arabia: Its People, Past, Religion, Fault Lines - and Future. Recently, she has written several opinion and commentary pieces for the Wall Street Journal on Saudi Arabia and the US-Saudi relationship.

3:55 - Richard's One Big Thing: the mystery of all the press and coverage of a "normalization" deal between Israel and Saudi Arabia potentially brokered by the United States. What's in it for each party, and why is it a long shot at best?

31:33 - Lucien's One Big Thing: Saudi Arabia's economy is slowing down in 2023, but non-oil figures are more than a glimmer of hope for the Kingdom as economic diversification is the name of the game for Vision 2030 and its ultimate success. 

50:42 - The 966 speaks with Karen Elliott House about Saudi Arabia's evolving role in regional and global affairs, the U.S.-Saudi relationship, and the challenges facing Saudi Arabia in realizing its Vision 2030 economic and social reform goals. 

1:39:36 - Yallah! 6 top storylines to get you up to speed heading into the weekend.

Episode 96! The 966 speaks with PepsiCo Middle East CEO Aamer Sheikh for a conversation about the company's strategy to plug into Vision 2030's opportunities and continue to stay on top as the number one food and beverage brand in the Kingdom of Saudi Arabia. Mr. Sheikh, who is Pakistani-American and grew up in the United States, shares his story and how he rose to the top position for the company in the Middle East region. The PepsiCo MENA CEO also discusses how he works to position PepsiCo's products to be part of the fabric of Saudi society, the company's emphasis and insistence on sustainability as critical to success, and so much more. Before the conversation, The 966 hosts discuss Richard's one big thing, which is a big update on the investments and news in Saudi Arabia's professional football league, the Saudi Pro League, and why headline-grabbing player transfers are just part of the equation for Saudi Arabia. Lucien's one big thing is a surprising new Royal Order from Crown Prince Mohammed bin Salman, who just announced that King Saud University would see a major change and a brand new board of all-star public and private sector figures in the Kingdom - indicative that he intends for KSU to expand and grow further. The hosts conclude as always with Yallah! 6 top storylines to get you up to date heading into the weekend.

9:48 – Richard’s One Big Thing this week a big update on the investments and news in Saudi Arabia’s professional football league, the Saudi Pro League, and why headline-grabbing player transfers are just part of the equation for Saudi Arabia.

30:25 – Lucien’s One Big Thing this week is the surprising announcement via Royal Order from Crown Prince Mohammed bin Salman to restructure King Saud University, located in the heart of Riyadh. Saudi investment into its universities are part of the Kingdom’s Vision 2030, and the Crown Prince ordered a new board of directors to oversee the University and its transition to a non-profit institution. 

45:35 – The 966 speaks with PepsiCo Middle East CEO Aamer Sheikh for a conversation about the company’s strategy to plug into Vision 2030’s opportunities and continue to stay on top as the number one food and beverage brand in the Kingdom of Saudi Arabia. Mr. Sheikh, who is Pakistani-American and grew up in the United States, shares his story and how he rose to the top position for the company in the Middle East region. The PepsiCo MENA CEO also discusses how he works to position PepsiCo’s products to be part of the fabric of Saudi society, the company’s emphasis and insistence on sustainability as critical to success, and so much more. PepsiCo’s products/brands include the popular household names like Pepsi-Cola, Mirinda, 7-UP, Mountain Dew, and Aquafina, Lay’s, Cheetos, Doritos and Quaker Oats. Aamer Sheikh told The 966 that one point of emphasis for his team is the development of local talent, sharing skills with the next generation, and empowering Saudi women. This is part of the company’s “Proudly Saudi” campaign in 2021, he said. PepsiCo Middle East employs close to 9,000 people across 86 site operations; Saudization rates reach over 40% in some business units; and 1 in 5 are female.

1:21:01 – Yallah! 6 top storylines to get you up to speed heading into the weekend…

•Saudi state mining giant Ma’aden and US-based Ivanhoe Electric have closed a deal to investigate 48,500 sq km of under-explored lands in the Arabian Shield for “critical minerals” that are key to powering the global energy transition.

•According to Euromonitor International, the inflation rates for the United Arab Emirates and Saudi Arabia in 2022 were 5% and 2.5%, respectively.

•The population of Saudi Arabia has reached 32.2 million, 42% of whom are foreign nationals with 63% of Saudis under age 30, the country’s general authority for statistics said on Wednesday.

•Delivery Hero, the German online food delivery company, is taking full ownership of its Saudi subsidiary in a transaction valued at $297 million.

•The King Salman Humanitarian Aid and Relief Center (KSRelief) affirmed that Saudi Arabia is one of the few countries that hosts the largest number of refugees who enjoy the status of visitors.

•Saudi Arabia’s leadership in OPEC+ with voluntary cuts to production has proven to be costly, sending its receipts from oil sales abroad down by a third, to its lowest in over a year, according to a report in Bloomberg.