The 966

Episode 95! Following several weeks of amazing special guests on the program (with many more to come in the weeks and months ahead) the hosts fly solo this week and discuss some of the biggest storylines and topics on Saudi Arabia this week. First, the hosts discuss Richard's one big thing this week, the Islamic new year. Muslims around the world observe and celebrate the Islamic New Year, also called the Hijri New Year, which marks the beginning of a new lunar Hijri year. The Islamic year is several days shorter than the Gregorian calendar, so its first day changes every year. Then the hosts discuss Lucien's one big thing, a global heat wave that has areas of the Middle East breaking records. On July 16, 2023, Persian Gulf International Airport in Iran reported a heat index of 152°F (66.7°C). In Riyadh this week, high temps are hovering around 115 degrees or so, which is about 46 degrees celsius. The hosts conclude the program as always with six top storylines on Saudi Arabia to get you up to speed heading into the weekend. 

7:47 - Richard's one big thing this week is a discussion of the Islamic new year. Muslims around the world observe and celebrate the Islamic New Year, also called the Hijri New Year, which marks the beginning of a new lunar Hijri year. The Islamic year is several days shorter than the Gregorian calendar, so its first day changes every year.

15:45 - Lucien's one big thing, a global heat wave that has areas of the Middle East breaking records. On July 16, 2023, Persian Gulf International Airport in Iran reported a heat index of 152°F (66.7°C). In Riyadh this week, high temps are hovering around 115 degrees or so, which is about 46 degrees celsius.

27:06 - Yallah! Six top storylines on Saudi Arabia to get you up to date heading into the weekend. 

•Saudi Arabia was the most active country for contract awards in a recent MEED survey for 2022. 

•Saudi Arabia agreed on Tuesday to buy Turkish drones in the biggest defence contract in Turkey's history as President Tayyip Erdogan reaped the benefits of his diplomatic push to repair ties with Gulf powers and help Ankara's struggling economy. 

•Saudi Arabia was considered the 28th best country to live in as an expat and the United States ranked 30th, according to the Expat Insider 2023.

•The Japanese premier, Fumio Kishida, kicked off his Gulf tour over the weekend with a stop in Saudi Arabia.

•An official from Israel’s Ministry of Foreign Affairs has confirmed to Al-Monitor that work has begun on a land bridge project connecting the country to Saudi Arabia, and that it will operate even if diplomatic ties between the two countries are not officially normalized.

•Saudi Arabia was announced as the host of the 2027 Pan Arab Games at the conclusion of this year’s  multi-sport event in Algeria.

Physician, non-fiction author, and broadcast media commentator and writer Dr. Qanta Ahmed joins The 966 from New York to discuss the “colossal” changes in Saudi Arabia since Vision 2030 was launched and her view that Saudi Arabia has emerged as an increasingly important and influential global power. Dr. Qanta is an Academic Pulmonologist and Sleep Disorder Specialist at NYU Langone and has lived in and visited Saudi Arabia now over a period spanning 3 decades. She first visited Saudi Arabia as a single female doctor in 1999, and wrote a book, called ‘In the Land of Invisible Women,’ (a title she reveals to The 966 she did not write) detailing her experiences in the Kingdom. Before that conversation, The 966 hosts discuss Riyadh's pitch to host Expo 2030, the progress for Saudi women since 2016 and the impressive gains for Saudi women in the workforce (as well as highlighting the strong line up of Saudi women guests The 966 has hosted since our launch over 94 episodes), and much more in the program's finishing segment.

3:35 - The 966 hosts discuss Riyadh's pitch to host Expo 2030

13:39 - The progress for Saudi women since 2016 and the impressive gains for Saudi women in the workforce.

27:14 - Dr. Qanta Ahmed joins The 966 from New York to discuss the “colossal” changes in Saudi Arabia since Vision 2030 was launched and her view that Saudi Arabia has emerged as an increasingly important and influential global power. Dr. Qanta is an Academic Pulmonologist and Sleep Disorder Specialist at NYU Langone and has lived in and visited Saudi Arabia now over a period spanning 3 decades.

1:19:25 - Yallah! 6 top storylines to get you up to speed headed into the weekend. 

Saudi businesswoman Dana Alajlani, Head of Public Affairs for the GCC at Sanofi, the French multinational pharmaceutical and healthcare company headquartered in Paris, joins The 966 to share her professional journey and story.  Dana is also Co-Chairwoman of the American Chamber of Commerce in Saudi Arabia (AmChamKSA) and is involved there with the Women in Business committee. Before that conversation, Richard and Lucien discuss a recent survey which examines the conversations and sentiments surrounding Saudi Arabia in 2022, seeking to understand the impact of Vision 2030. Then the hosts discuss Lucien's One Big Thing, which is a recent report in the Financial Times that said the Saudi PIF is eying up the possibility of a sports investment body, owned by the PIF, to further pursue investment into sport globally. Then the hosts wrap up as always with the Yallah! segment. 

9:30 - Richard's One Big Thing is a recent survey which examines the conversations and sentiments surrounding Saudi Arabia in 2022, seeking to understand the impact of Vision 2030. The leading research firm Carma analyzed media coverage across 33 major markets from traditional, digital, and broadcast media. The hosts discuss the changing perceptions of Saudi Arabia both in the Kingdom and abroad. 

16:20 - Lucien's One Big Thing is a new report from the Financial Times says Saudi Arabia plans to launch a multibillion-dollar investment company to expand its sports interests. The new entity will feature a “war chest” to fund its expansion, a sign that KSA wants to make further acquisitions, according to the report. Lucien highlights some of the facts in the piece, then Richard and Lucien provide some thoughts on all the progress in this space for Saudi Arabia. 

34:54 - Saudi businesswoman Dana Alajlani, Head of Public Affairs for the GCC at Sanofi, the French multinational pharmaceutical and healthcare company headquartered in Paris, joins The 966 to share her professional journey and story.  Dana is also Co-Chairwoman of the American Chamber of Commerce in Saudi Arabia (AmChamKSA) and is involved there with the Women in Business committee.

1:07:32 - Yallah! 6 top storylines to get you up to date heading into the weekend. 

•Non-oil business activity in Saudi Arabia surged in June, supported by strength in construction and tourism, a survey showed on Wednesday. 

•Saudi Arabia has begun issuing electronic visas for the new season of Umrah or lesser pilgrimage starting later this month, after the end of the annual Hajj pilgrimage.

•The Kingdom of Saudi Arabia (KSA) Civil Transactions Law (the Law) enacted on 19 June 2023, by Royal Decree M/191, has now been published in the official gazette "Umm Al-Qura."

•ATP Tour chair confirms “positive” investment discussions with Saudi’s PIF

•Saudi Arabia is considering a push to attract more outside investors to bolster its top football competition, part of a strategic revamp that’s started with an influx of star players from Europe.

•Startups in Mena raised $35.6 million in June 2023 across 45 deals, pushing the half year funding total to $1.6 billion.

Episode 92! Saudi Arabia’s sporting ambitions and investments have been dominating global coverage of the Kingdom in recent months. 

The 966 speaks with Simon Chadwick, Professor of Sport and Geopolitical Economy, SKEMMA Business School, Paris, about all of the interest and investments by Saudi Arabia and Gulf nations into global sports. Professor Chadwick has consulted for and advised some of the biggest names in sport, such as FC Barcelona, UEFA, Adidas, the Association of Tennis Professionals (ATP). Before that, the hosts discuss a recent article in Newsweek by a previous guest of The 966, David Rundell, about some facts around Saudi Arabia's real role in 9/11, and why context matters. Then the hosts discuss all the latest with NEOM, including a recent interview given by Crown Prince Mohammed bin Salman to Discovery in English. The hosts conclude as always with Yallah! 6 top storylines to get you up to speed heading into the weekend. 

5:22 - Richard's One Big Thing is drawing attention and giving credit to a recent op-ed in Newsweek by a previous guest of The 966, David Rundell. Rundell and Gfoeller argue that Saudis "never made up the majority of al-Qaeda's leadership or membership. Below Osama bin Ladin, al-Qaeda's leadership was primarily Egyptian. Al-Qaeda's foot soldiers came from across the Muslim world with North Africans, Indonesians and Pakistanis contributing far more than Saudis. Saudis were used to carry out the 9/11 attacks primarily because it was far easier for them to obtain visas to the United States than it was for their Egyptian or Pakistani colleagues....Nor did al-Qaeda's political agenda originate in Saudi Arabia. Saudi Islam has a long tradition of puritanical intolerance which has most often been directed against the religious practices of other Muslims. Within Saudi Arabia, the religious scholars have an equally long history of condemning terrorism, especially when it involves suicide."

24:01 - Lucien's One Big Thing is discussion of Crown Prince Mohammed bin Salman's remarks to a Discovery Channel documentary on Neom and all the other developments that happened in Neom in just the past two weeks. Lucien shares the comments that the Crown Prince made, which demonstrate his enthusiasm for the project and the genesis of the design and need to provide a new, global city for Saudis. Also recently, NEOM has announced that it has finalized contracts with investors for the first phase of its residential communities’ expansion, a social infrastructure project that will house the region’s growing workforce, and signed a deal with a global yachting brand, a major Saudi media organization, and more. 

38:38 - The 966 speaks with Professor Simon Chadwick. Professor of Sport and Geopolitical Economy, SKEMMA Business School, Paris, about all of the interest and investments by Saudi Arabia and Gulf nations into global sports. Professor Chadwick has consulted for and advised some of the biggest names in sport, such as FC Barcelona, UEFA, Adidas, the Association of Tennis Professionals (ATP).

1:33 - Yallah! 6 Top Storylines to get you up to speed heading into the weekend. 

•Nearly 1.5 million foreign pilgrims have arrived in Saudi Arabia so far for annual Hajj pilgrimage 

•Kingdom at the Forefront of Air Taxi Tech with Test of Volocopter in Collaboration with Neom

•Aston Martin Ties with Lucid for EV Partnership

•Kante joins Benzema at Al-Ittihad on 3-year deal as Saudi Arabia entices another star player

•The framework of the merger agreement of the PGA Tour and Saudi-backed LIV Golf says a for-profit subsidiary of the U.S. golfing body will be created 

•The 2023 Club World Cup will take place in Saudi Arabian city of Jeddah

Eid Al-Adha Mubarak to all followers and friends! -The 966 Team

The 966 speaks with Dr. Mohanad AlSheikh, CEO of Johnson Controls Arabia, a leading player in Saudi Arabia and the MENA region’s growing HVAC and smart building market. 

The 966 hosts ask Dr. Mohanad about the growing business opportunities in the HVAC and smart buildings space in the Kingdom and the wider region, the company’s focus on sustainability, and the importance of being a leading local content provider for Saudi Arabia. They also discuss how Johnson Controls Arabia is proving to be a trailblazer in R&D and technology transfer and development, and why that is important for the ecosystem in Saudi Arabia.

Other areas of focus for Johnson Controls includes AI, machine learning, and building technologies that help the company lead efforts to decarbonize in the region. 

The hosts begin the discussion by asking Dr. Mohanad to share his journey to-date, starting with his education in the United States when the hosts first met Dr. Mohaned. 

Dr. Mohanad joined Johnson Controls Arabia, a JV between the U.S.-headquartered Johnson Controls and local provider Al Salem, over a decade ago before rising to become head of the company. 

Saudi entrepreneurs Sara Bin Laden and Renad Aljefri, recent WIN fellows, join The 966 from Jeddah to discuss their experiences and journeys to-date. Renad and Sara recently took part in the second cohort of the Atlantic Council’s Women Innovators Fellowship, known as the WIN fellowship - a program launched by the empowerME initiative of the Rafik Hariri Center for the Middle East, by venture capitalist Amjad Ahmad. Before the conversation with Sara and Renad, the hosts discuss Richard's One Big Thing, the PIF's investments in Saudi football and the Saudi Pro League, as well as a discussion of the new names that will be playing in the Kingdom, like Karim Benzema and N’Golo Kanté, and Messi's decision to go to Miami. Then the hosts discuss Lucien's one big thing, the mixed picture presented by recent VC numbers in the MENA region. The hosts conclude as always with the program's "Yallah!" segment, featuring 6 top storylines on Saudi Arabia to get you up to speed heading into the weekend.

4:35 - Richard's One Big Thing, the PIF's investments in Saudi football and the Saudi Pro League, as well as a discussion of the new names that will be playing in the Kingdom, like Karim Benzema and N’Golo Kanté, and Messi's decision to go to Miami.

26:38 - Lucien's One Big Thing is the mixed picture presented by recent VC numbers in the MENA region. May represented a bounce-back of sorts for the MENA VC and startup ecosystem, with venture funding into the region’s startups touched $445 million spread across 39 transactions, compared to $7 million raised across 11 deals reported in the preceding month, according to a monthly report in Wamda. The UAE accounted for 90 per cent of the total raised during the period, but Saudi Arabia saw the most total investments into deals with 15. Saudi Arabia topped the charts thanks primarily to the graduation of seven homegrown startups from the Flat6labs Riyadh accelerator prorgram, headed by Riyadh-based venture capitalist Eyad Albayouk.

38:34 - Saudi entrepreneurs Sara Bin Laden and Renad Aljefri, recent WIN fellows, join The 966 from Jeddah to discuss their experiences and journeys to-date. Renad and Sara recently took part in the second cohort of the Atlantic Council’s Women Innovators Fellowship, known as the WIN fellowship - a program launched by the empowerME initiative of the Rafik Hariri Center for the Middle East, by venture capitalist Amjad Ahmad. The WIN Fellowship program is a collaboration between the Atlantic Council and Georgetown University, offering a structured fully sponsored yearlong executive training program, mentoring and networking opportunities with leading U.S. and MENA business executives, government officials, and policy experts. The top participants, and Renad and Sara were both selected for this - attend a fully sponsored trip to the United States for leadership training at Georgetown and meetings with US business and government leaders.

1:08:45 - Yallah! 6 top storylines to get you up to speed heading into the weekend.

Saudi Arabia will make a deep cut to its output in July on top of a broader OPEC+ deal to limit supply into 2024 as the group seeks to boost flagging oil prices. Saudi's energy ministry said the country's output would drop to 9 million barrels per day (bpd) in July from around 10 million bpd in May, the biggest reduction in years. OPEC+ has in place cuts of 3.66 million bpd, amounting to 3.6% of global demand, including 2 million bpd agreed last year and voluntary cuts of 1.66 million bpd agreed in April.

U.S. Secretary of State Antony Blinken had an "open, candid" conversation with Saudi Crown Prince Mohammed bin Salman about a wide range of bilateral issues, a U.S. official said. Blinken's visit came days after top crude exporter Saudi Arabia pledged to deepen oil output cuts on top of a broader OPEC+ deal to limit supply, as it seeks to boost flagging oil prices despite opposition from the U.S. administration. Blinken and the crown prince met for an hour and forty minutes, a U.S. official said, covering topics including Israel, the conflict in Yemen, unrest in Sudan as well as human rights.

The Iranian embassy in Saudi Arabia has been reopened at a ceremony attended by Iranian Deputy Foreign Minister for Consular, Parliamentary and Expatriate Affairs Alireza Bigdeli. The previous day, on June 5, the Iranian foreign ministry had announced that the Riyadh embassy, consulate-general in Jeddah and the Iranian mission to the Organization of Islamic Cooperation (OIC) would be officially reopened on June 6 and 7.

IATA — an association that represents around 300 airlines in 120 countries — forecasted that the global aviation industry's profits are expected to reach $9.8 billion in 2023, more than double the $4.7 billion forecast in December, driven by pent-up demand for air travel following the pandemic.  Revenue passenger-kilometers for Middle Eastern carriers stands at 88% of 2019’s figures, showing the airlines in the region have already been making strong progress. GCC carriers will be at the forefront of the surge in passenger numberswhich IATA expects to double in the region to 550 million by 2040.

The PGA TOUR, DP World Tour and the Public Investment Fund (PIF) announced a landmark agreement to unify the game of golf, on a global basis. The parties have signed an agreement that combines PIF’s golf-related commercial businesses and rights (including LIV Golf) with the commercial businesses and rights of the PGA TOUR and DP World Tour into a new, collectively owned, for-profit entity to ensure that all stakeholders benefit from a model that delivers maximum excitement and competition among the game’s best players.

The UK Government will be eliminating the need for visit visas for individuals from the UAE, Saudi Arabia, Qatar, Kuwait, Oman, Bahrain, and Jordan. Instead, these individuals will have the option to obtain an Electronic Travel Authorisation that will be valid for two years, and the cost for this will be only £10 ($12). This change will align the entry requirements for Gulf travellers and Jordanians with those of US and Australian citizens.

It's a story The 966 has covered in almost every one of its 90 podcasts in one form or another: the PIF-backed LIV Golf tour's founding and rise. So the news breaking today that the PGA Tour and Saudi-backed rival LIV Golf are combining in a shocking, earth-shattering merger, ending a dispute between the two, is worthy of a special emergency edition of The 966. 

Lucien, fresh off the plane and joining from Riyadh, and Richard talk about this seismic event and react to the incredible news of the merger. They react to some tweets rolling out in real time and try to see into the near future at how the world of golf might look. 

The 966 talks about the state of business dispute resolution in Saudi Arabia with the CEO of the Saudi Center for Commercial Arbitration, Dr. Hamed Merah, who joins from Riyadh. The 966 talks with Dr. Merah about the SCCA’s rise as a leading dispute resolution body in the region and increasingly, globally. As Saudi Arabia targets attracting foreign investors and companies looking to do business in the Kingdom, having a reputable and professional commercial arbitration center is important for growth. Dr. Merah talks about his work at the SCCA and its growth as an organization since its launch in 2014 and the significant expansion of the non-profit in just a few years. Dr. Merah discusses how one of the most important priorities for the SCCA is to provide “a user-focused environment with clear, fast and flexible procedures.” The SCCA uses the latest case management technology in Arabic and English and is growing in international repute.

Before the interview, The 966 hosts talk about their visit to the recent LIV Golf Tournament in Washington, D.C., Lucid's current rocky road, the royal wedding between a Saudi architect and Jordan's Crown Prince, and much more in the final Yallah! segment.

5:15 - Richard (and Lucien's!) One Big Thing is LIV Golf DC. The 966 boys headed on a field trip to the event on Saturday and soaked it all in. Richard and Lucien converse about the vibe, atmosphere, professionalism, and more on the event held in Northern Virginia right on the Potomac River. A former guest of The 966 also joined to take in some golf. The hosts even donned their swag they purchased, with Richard declaring his fandom for the RangeGoats GC and Lucien declaring he will remain a free agent fan until an offer is made he can't refuse.

31:17 - Lucien's (small, but still big) One Big Thing is the recent announcement by the PIF that it will invest in another round in Lucid Motors Group.

43:25 - CEO of the Saudi Center for Commercial Arbitration, Dr. Hamed Merah, joins The 966 to talk about the SCCA’s rise as a leading dispute resolution body in the region and increasingly, globally. As Saudi Arabia targets attracting foreign investors and businesses looking to do business in the Kingdom, having a reputable and professional commercial arbitration center is important for growth. Dr. Merah talks about his work at the SCCA and its growth as an organization since its launch in 2014 and the significant expansion of the non-profit in just a few years.

One of the most important priorities for the SCCA is to provide “a user-focused environment with clear, fast and flexible procedures.”

The SCCA uses the latest case management technology in Arabic and English.

1:34:45 - Yallah! Six top storylines to get you up to date heading into the weekend.

Amazon has launched a new fulfillment center in Riyadh doubling its total storage capacity in Saudi Arabia and increasing selling opportunities for small and medium-sized businesses. The facility, which spans 390,000 sq. feet across five floors, with 2.7 million cubic feet capacity can store more than 9 million products. “Whenever a new fulfillment center opens, it has a transformative impact on the economy of the host city by contributing to expanding product selection and availability, growth of e-commerce sales, talent development, and the acceleration of entrepreneurship,” said Prashant Saran, director of operations for Amazon in the Middle East and North Africa region

The royal wedding of Crown Prince Hussein of Jordan and Saudi Arabian architect Rajwa Al Saif is today, June 1 at 4:00 p.m. at Zahran Palace in Amman, Jordan.  Distinguished guests from around the world, including heads of state, esteemed political and diplomatic figures, and close friends and members of the royal family, will attend the ceremony. Jordanian flags and pictures of Crown Prince Hussein are festooned along the highway that connects Amman’s airport to the centre of the city. It will be one of the highest profile events in Jordan for more than two decades.

According to a census published Wednesday, Saudi Arabia's population has grown 34.2% since 2010, to 32.2 million, an increase of 8.2 million people. Of these, 4.8 million or 58.4% are Saudi nationals and most others are from South Asia or elsewhere in the Middle East and North Africa region. The majority of the kingdom's nationals are under 30 years old.  The 2022 Saudi census marks the "most comprehensive and precise population survey conducted in the Kingdom's history," the General Authority of Statistics said.

Mortgage lending in Saudi Arabia, a key component of the kingdom's total bank credit to the private sector, softened to a new low in April 2023 as higher interest rates drove away potential home buyers. Mortgage lending has surged in Saudi Arabia the past decade, often outpacing corporate lending, after the kingdom introduced regulations. It gained momentum in 2016 on the back of a government drive to boost home ownership to 70% under the Vision 2030 programme.  As a result of this push, homeownership has increased from 47% in 2017 to 67% in 2022, according to the real estate consultancy Knight Frank.

Saudi Arabia announced the extension of its Makkah Route Initiative to Türkiye, aiming to facilitate travel, immigration and other processes for pilgrims visiting the holy cities of Makkah and Medina Tuesday. The Makkah Route Initiative, which began in 2019 as part of the "Guests of God Service Program," is being carried out in Morocco, Indonesia, Malaysia, Pakistan, Bangladesh, and Ivory Coast, as well as Türkiye, according to the Saudi Interior Ministry. It aims to assist pilgrims by simplifying procedures so that they can be completed in their home countries.

Boeing Co (BA.N) is working on a deal to sell at least 150 737 Max jetliners to Saudi Arabian startup Riyadh Air, Bloomberg News reported on Sunday. The new carrier, wholly owned by Saudi Arabia's Public Investment Fund (PIF), is looking for about 300 to 400 single-aisle jets in total, the report said, citing people familiar with the matter. Airbus SE (AIR.PA) could also claim a part of the order, the report added.

Episode 88! Venture capitalist Eyad Albayouk returns to The 966 to talk about the latest developments in the VC sector in Saudi Arabia as well as the closing of his new startup seed fund with Flat6Labs in Saudi Arabia. The hosts discuss with Eyad the rocky start for new funding rounds in the Kingdom after a red hot 2022. Before that conversation, the host discuss Richard's one big thing - a new report from the Saudi consultancy Mukatafa and Kearney on e-commerce in Saudi Arabia. Then the hosts talk about Lucien's one big thing - the recent space mission that saw two Saudis, including the first female Saudi, and two Americans head to the International Space Station. Lucien noted that the new US Ambassador to Saudi Arabia, Michael Ratney, released a well-produced and meaningful congratulatory video to coincide with the launch, a refreshing move by a veteran communicator. The hosts conclude as they always do with Yallah! 6 top storylines to keep you updated headed into the weekend. 

7:19 - A new report by Saudi Arabia-based consultancy Mukatafa and Kearney found that 74% of online shoppers in Saudi Arabia expect to increase their purchases from the kingdom’s ecommerce platforms compared to their purchases from China, GCC, Europe and US. However, further support will be needed to ensure a level playing field for all ecommerce players, thereby protecting consumer interests, and promoting local investments, the report said. 

20:51 - SpaceX delivered another quartet of astronauts to the International Space Station on Monday - two Americans and two Saudis as part of the Axiom Mission 2 (Ax-2) launch to the International Space Station at Kennedy Space Center, Florida. To coincide with the launch, U.S. Ambassador to Saudi Arabia Michael Ratney released a positive video congratulating the astronauts and the people of both the US and KSA.  

34:47 - Venture capitalist Eyad Albayouk returns to The 966 to talk about the latest developments in the VC sector in Saudi Arabia as well as the closing of his new startup seed fund with Flat6Labs in Saudi Arabia. Eyad joins The 966 from Riyadh. The hosts discuss with Eyad the rocky start for new funding rounds in the Kingdom after a red hot 2022.

1:12:51 - Yallah! 6 top storylines to get you up to date headed into the weekend. 

Saudi Arabia's Neom Green Hydrogen Company has signed deals worth $8.4 billion with financial institutions for the plant it is building at Oxagon in the kingdom's $500 billion futuristic city Neom.

The Kingdom of Saudi Arabia (KSA) has recently introduced a new work visa, known as the "Temporary Work Visa", which replaces the previous "Work Visit Visa".

A goalless draw against Leicester City on Monday secured Newcastle United’s spot in next season’s Champions League for the first time in 20 years, a sensational rise for a team on course to be relegated from the English Premier League 18 months ago. 

A major entertainment calendar is due to kick off this week in Saudi Arabia, covering 16 cities across the kingdom where the entertainment industry is experiencing an unprecedented boom.

IHG Hotels & Resorts, one of the world’s leading hotel companies with more than 6,000 hotels, across 18 distinct brands, has signed a Master Development Agreement (MDA) with Tashyid for Hotel Operations, which will see the development of 12 hotels and 2,500 keys under the Holiday Inn Express brand across the Kingdom of Saudi Arabia.

The Saudi science and engineering team arrived back in the Kingdom on Sunday after winning 27 awards, including 23 major and four special prizes, at the Regeneron International Science and Engineering Fair. 

Episode 87! The hosts explore overlapping topics in Salmani architecture and an evolving Riyadh city under King Salman for decades. Kicking things off, Richard's One Big Thing is the rise of Salmani Architecture - a term the hosts have come across in recent months that is important in understanding the current and new face of a changing Saudi capital. Salmani architecture combines traditional Saudi design elements with the new, while remaining distinctive, functional, and aesthetically pleasing. Lucien's One Big Thing is the launch and opening of VIA Riyadh, a new retail, entertainment, and hospitality destination in Riyadh that is now open to the public. Then the hosts wrap up as always with Yallah! 6 top storylines to get you up to date before heading into the weekend.

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5:18 - Richard's One Big Thing is the rise of Salmani Architecture. Salmani architecture, becoming the norm in Riyadh for new buildings and construction, was characterized by an aesthetic appeal with six core values that were carefully planned and overseen by King Salman himself. The design process absorbs the guidance of all six values: Authenticity, Continuity, Human-Centricity, Livability, Innovation, and Sustainability.

28:36 - Lucien's One Big Thing this week is the launch of VIA RIYADH, a bougie new shopping and dining development in the heart of the Saudi capital. VIA Riyadh is done in the Salmani architecture style, and as the newest example of it, is a great look at some of the key elements and features of that style. VIA Riyadh was designed to work in perfect harmony with the local identity of the capital, preserving the unique identity of the city. The ancient stones that formed the famous Tuwaiq mountain in Dhurma ages ago, were professionally extracted to bring them to the present. The area has a significant place in Saudi history since it was the birthplace of the Second Saudi State in the 1820s.
VIA RIYADH launched on May 11th and is welcoming visitors and patrons now, and includes a shopping mall, a hotel, a cinema, and a variety of super trendy restaurants and chic cafes.

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

Saudi Crown Prince merges Riyadh districts and names them after King Salman

Via Mariam Nihal in thenationalnews.com: Saudi Crown Prince Mohammed bin Salman has merged two Riyadh districts and renamed them after his father in a tribute to his leadership of more than five decades. Al Waha and Salah Al Din districts, which are located in the heart of the capital, close to King Salman Park, will now be known as King Salman Neighbourhood, the Saudi Press Agency reported. The areas will be redeveloped and equipped with proper infrastructure and recreational amenities in a manner designed to allow them to keep pace with the growth of the city. Spanning an area of 6.6 square kilometres, the combined district will feature Salmani architecture.

https://www.thenationalnews.com/gulf-news/2023/05/15/saudi-crown-prince-merges-riyadh-districts-and-names-them-after-king-salman/

Contract Signed for $1.5 Billion for NEOM High-Speed Railway to Connect Port Development of Oxagon and The Line

Milan, Italy-based Webuild and its joint-venture partner Shibh Al Jazira Contracting Company (SAJCO) have signed a contract worth circa $1.5 billion to design and build 57 kilometers (35.4 miles) of a high-speed railway in NEOM, along the north Red Sea coast of Saudi Arabia which will connect Oxagon and The Line, according to reports.

https://www.sustg.com/contract-signed-for-1-5-billion-for-neom-high-speed-railway-to-connect-port-development-of-oxagon-and-the-line/

Saudi Arabia hits record 31.81 mm average rainfall in April, the highest in 40 years

The Ministry of Environment, Water and Agriculture (MEWA) announced that the average rainfall in various regions of the Kingdom of Saudi Arabia hit an exceptional record of 31.81 mm in April 2023.

According to MEWA, this is the highest average recorded in 40 years; it is higher than the average of 9.23 mm which it recorded in April 2022.

https://www.zawya.com/en/life/saudi-arabia-hits-record-3181-mm-average-rainfall-in-april-the-highest-in-40-years-nrqxo6vo

Saudi Wealth Fund Staffs NY Unit With Goldman, Point72 Hires

The US subsidiary of Saudi Arabia’s $730 billion sovereign wealth fund is hiring from Wall Street firms and top hedge funds to manage its growing portfolio of investments in the country. In January, former Point72 Asset Management executive Jason Chung joined as head of the New York office of USSA International, the fund’s US arm, after spending almost 13 years at billionaire Steve Cohen’s hedge fund, according to LinkedIn. That month, Meredith Wood Doherty joined from investment firm Baillie Gifford as USSA International’s head of compliance and governance, her LinkedIn profile shows.

https://www.bloomberg.com/news/articles/2023-05-16/saudi-wealth-fund-staffs-ny-unit-with-goldman-point72-hires?sref=5jMtLoGc

Ma’aden and Ivanhoe to explore untapped resources in Saudi Arabia

Ma’aden, a Saudi Arabian mining company, has finalised its agreement with Ivanhoe Electric Inc. (IE) to purchase 9.9% shares in the company and form a 50/50 joint venture (JV) to undertake one of the largest exploration programmes ever conducted.

The deal will provide Ma’aden, through the JV, with access to IE’s breakthrough Typhoon™ geophysical survey technology, which will accelerate the exploration of Saudi Arabia’s lands, estimated to hold US$1.3 trillion of untapped minerals.

Saudi Arabia’s Public Investment Fund (PIF) is pumping more money in the gaming industry, and has increased its stake in American gaming company Electronic Arts (EA) by 55%. 

The PIF held 16.1 million shares in the FIFA and Madden NFL game publisher before Q4 2022, but after Q1 2023, it held 24.81 million shares, according to financial research publisher Seeking Alpha. Saudi Arabia already has investments in Activision Blizzard and Take-Two Interactive from the United States.