The 966

An interview and conversation with the legendary HRH Prince Turki Al-Faisal Al-Saud, who joins The 966 to share some stories and his anecdotes about his late father, King Faisal bin Abdulaziz Al-Saud. King Faisal's death lead his sons to create the King Faisal Foundation to honor his visionary legacy and generous spirit. HRH Prince Turki also discussed Saudi Arabia's progress with Vision 2030 and answers a question famously asked of his late father nearly 50 years ago. The former Ambassador, top intelligence official and statesman also talks about U.S.-Saudi relations and potential building blocks for the longstanding allies to continue with a strong relationship in the years and decades to come.

HRH Prince Turki Al-Faisal Al-Saud is former head of Saudi Arabia’s General Intelligence Directorate for 23 years, former Ambassador of Saudi Arabia, first to the United Kingdom and Ireland, and after that, to the United States. He serves as co-founder and trustee of the King Faisal Foundation, established in 1976, Chairman of the Board, King Faisal Center for Research and Islamic Studies, and a visiting Distinguished Professor at Georgetown University.

Robert Mogielnicki from AGISW and adjunct professor at Georgetown and GWU joins The 966 to talk NEOM, the PIF, the Saudi economy and so much more. The hosts talk about our neighbors – all 8 billion of them and counting - on planet Earth as the world's population passes 8 billion. Lucien's one big thing is the Crown Prince's recent trip to Asia, including Indonesia and South Korea, ahead of Chinese President Xi's planned visit to Saudi Arabia in December. The hosts conclude as always with Yallah! 6 top storylines to get you up to speed headed into the weekend.

2:47 - Richard's One Big Thing is the world's population crossing 8 billion people. What does that mean for humanity and the Middle East region? How will policy and business need to adapt to meet the challenges and opportunities of a growing human race?

11:29 - Lucien's One Big Thing is Crown Prince Mohammed bin Salman's trip to Asia for the G20 meetings in Indonesia and separate trips to South Korea, where $30 billion in deals were signed, and Thailand. China's president Xi Xinping will also visit Saudi Arabia in December.

19:33 - Robert Mogielnicki from AGISW and adjunct professor at Georgetown and GWU joins The 966 to talk NEOM, the PIF, the Saudi economy and so much more.

1:15:53 - Yallah! 6 top storylines to get you up to speed headed into the weekend.

•Funding for Green-Hydrogen Plant at Saudi Arabia’s Neom Almost Done

•IBM to help tighten Saudi Arabia’s cybersecurity as hackers target supply chains: General manager

•Saudi Aramco signs agreement to establish carbon capture and storage hub

•UAE and US in strategic partnership to invest $100bn in clean energy projects

•Goldman Is Hiring in the Middle East to Tap Deals, Fund Flow

•Andy Warhol Exhibition to Come to Saudi Arabia as Part of AlUla Arts Festival

Episode 65! Prince Waleed Bin Nasser Al Saud joins The 966 -- Prince Waleed is CEO of Mukatafa, a consultancy based in Riyadh that brings together the public and private sectors in Saudi Arabia, forming an ecosystem that enables the private, public, and third-party sectors to collaborate, integrate, and grow together as the Kingdom drives forward with Vision 2030. Mukatafa means standing shoulder to shoulder in Arabic, and the growing organization founded by Prince Waleed has worked specifically within the Manufacturing, Education, Food and Beverage, Grocery, Luxury Fashion, Jewelry, Beauty, Electronics, and Furniture industries. Before that discussion, the hosts discuss U.S.-Saudi relations, the mining and minerals sector in the Kingdom and much more...

1:28 - Richard's One Big Thing is why U.S.-Saudi relations are in need of a healthy reset and how some recent commentary on U.S.-Saudi relations seems to recognize the need for the U.S. perspective to be updated on Saudi Arabia

13:14 - Lucien's one big thing is all of the recent developments in Saudi Arabia's mining and minerals sector, overseen by Minister Bandar bin Ibrahim AlKhorayef, Deputy Minister for Mining Affairs Khalid Al-Mudaifer, and Deputy Minster Osama Zamil. The team is full steam ahead with developing the mining and minerals sector and working to make Saudi Arabia more attractive for industry in general.
AlKhroyef said recently that Saudi Arabia plans to award over a dozen mining exploration licenses to international investors.
Five new exploration sites are up for licensing and the kingdom will release details of an additional 10 opportunities next year, the minister said in a speech at IMARC. More than 145 licenses have been issued so far and the country has seen a 27% year-on-year growth in its mining revenue. The Minster also referenced the recently announced ambitious strategy to attract investments worth $32 billion to the sector.

[Note: here is the interview referenced by Lucien: https://im-mining.com/2022/11/02/91213/]

22:37 - Prince Waleed Bin Nasser Al Saud joins The 966 -- Prince Waleed is CEO of Mukatafa, a consultancy based in Riyadh that brings together the public and private sectors in Saudi Arabia, forming an ecosystem that enables the private, public, and third-party sectors to collaborate, integrate, and grow together as the Kingdom drives forward with Vision 2030. Mukatafa means standing shoulder to shoulder in Arabic, and the growing organization founded by Prince Waleed has worked specifically within the Manufacturing, Education, Food and Beverage, Grocery, Luxury Fashion, Jewelry, Beauty, Electronics, and Furniture industries.

1:10:14 - Yallah! 6 top storylines to get you up to date heading into the weekend...

COP 27 in Egypt Underway

The conference officially runs from Nov. 6 through Nov. 18. The meetings are being held at the Sharm el Sheikh. There are two main sites for the event: the Blue Zone and the Green Zone. The Blue Zone, based at the Sharm el Sheikh International Convention Center just south of the town center, is where the official negotiations will be held. That space will be managed by the United Nations and is subject to international law. More than 35,000 delegates are expected to attend the event, including President Biden and more than 100 heads of state, according to the U.N. climate body. That is smaller than last year’s summit in Glasgow, which brought together 120 world leaders and over 40,000 registered participants. But for a year in which no major decisions are officially expected, it is still a substantial gathering.

Saudi Arabia announces visa-free entry ahead of FIFA World Cup Qatar 2022

For the first time ever, Saudi Tourism Authority announces the extension of the Saudi multi-entry visa, the new announcement states that the multi-entry visa allows Hayya Card holders to stay in Saudi for up to 60 days, with pre-entry to the FIFA World Cup not required. Further extensions will allow for ‘Hayya with Me (1+3)’, allowing Hayya Card holders and three additional friends and family members to enter the kingdom.

Saudi Arabia Launches Its Own EV Brand

The kingdom's sovereign wealth fund announced last week it is launching an electric vehicle brand together with Taiwan's Foxconn, called Ceer. It will become the first Saudi automotive brand to produce electric vehicles in Saudi Arabia, and will design, manufacture, and sell a range of vehicles for consumers in the country and the MENA (Middle East and North Africa) region, including sedans and sports utility vehicles.

Saudi Arabia Hosting The 22nd Arab Radio & TV Festival

Running from 9th-12th November 2022, 30 other countries will be participating in the event – including 12 that are non-Arab countries. Over 1000 media experts and professionals from around 200 radio and television networks and production and distribution companies will be attending. 2022’s edition of the Arab Radio and Television Festival is being held in Saudi Arabia for the first time, as opposed to its usual location in Tunisia, where its headquarters are based and will coincide with the establishment of the Future of Media Exhibition.

Saudi Arabia commits $2.5bn to Middle East Green Initiative over next 10 years

Saudi Arabia will contribute $2.5 billion to a green initiative in the Middle East over the next ten years, Crown Prince Mohammed bin Salman announced during the Cop27 UN climate summit. Prince Mohammed was speaking at the second edition of the Middle East Green Initiative conference being held in Cairo alongside the Cop27 climate change summit in Egypt. He told attendees that the kingdom aims to provide more sustainable energy systems and that Saudi Arabia would build a prominent headquarters for the initiative. “With concerted regional efforts, the initiative seeks to support efforts and co-operation in the region to reduce and eliminate emissions by more than 670 million tonnes of carbon dioxide equivalent,” he said.

Saudi Arabia’s October PMI marks highest growth since January 2021

The headline seasonally adjusted Purchasing Managers’ Index (PMI) of Saudi Arabia rose to 57.2 in October 2022 from 56.6 last September, marking the strongest business outlook since January 2021. The PMI highlighted solid business conditions in the non-oil private sector economy during October 2022, according to Riyad Bank’s data. Firms witnessed enhanced domestic economic conditions and smooth inf...

The 966 interviews Reem Philby and Alan Morrissey, two of the four team members set to embark on the ‘Heart of Arabia’ expedition, a 1,300km journey across Saudi Arabia following the route of Harry St John (Abdullah) Philby that took place 105 years ago. Philby and Morrissey join The 966 to discuss the history of Philby’s 1917 mission to Ibn Saud, which earned him the Royal Geographical Society Founder’s Medal, as well as the journey and challenges ahead. 

Episode 63! The hosts welcome Jeffrey Beyer, Managing Director, Zest Associates, a Dubai-based consultancy that develops sustainability solutions for governments and private companies for the low carbon economy. First, the hosts discuss Richard’s one big thing this week, which is Saudi Arabia’s forthcoming Saudi Games, the largest single sporting event ever in Saudi Arabia. Lucien’s one big thing this week in Saudi Arabia is the progress on the Red Sea with major milestones reached for The Red Sea Development Company (TRSDC), headed up by John Pagano. The hosts conclude the program as always with Yallah! 6 top storylines to get you up to speed headed into the weekend. 

2:02 - Richard’s one big thing this week is Saudi Arabia’s forthcoming Saudi Games, the largest single sporting event ever in Saudi Arabia. The games take place with the participation of more than 6000 athletes and 2,000 technical and administrative supervisors representing more than 200 clubs across the Kingdom, competing in 45 sports as individuals and teams including 5 games dedicated to Paralympic sports.

10:42 - Lucien’s one big thing this week in Saudi Arabia is the progress on the Red Sea with major milestones reached for The Red Sea Development Company (TRSDC), headed up by John Pagano. Earlier this summer, Rosewood hotels said it would open one of its high-end hotels in the area. That was just the start of a slate of news on the progress at the Red Sea resort area. Foster + Partners released designs for the “world’s first fully immersive experiential marine life center.” Authorities also announced the official opening of the Shura bridge, a 3.3km crossing (so just over 2 miles) from the Saudi mainland to the hub island Shura. 

18:36 - The hosts welcome Jeffrey Beyer, Managing Director, Zest Associates, a Dubai-based consultancy that develops sustainability solutions for governments and private companies for the low carbon economy. The hosts talk with Jeffrey about sustainability and climate, ESG, and more with COP27 and COP28 taking place in the Middle East region. 

Links to the reports mentioned in the conversation are here:

• 
  Financing a Green Transition in the Middle East: Link
• UAE-UK Clean Hydrogen Collaboration: Link
  
  

1:05:48 - Yallah! 

Qatar World Cup ticket sales near 3 million

Ticket sales for the soccer World Cup are approaching the three million mark ahead of the tournament kicking off in Qatar on Nov. 20, FIFA president Gianni Infantino and event organisers said on Monday. The top 10 purchasing countries of the 2.89 million tickets sold are Qatar, the United States, Saudi Arabia, England, Mexico, the United Arab Emirates, Argentina, France, Brazil and Germany, FIFA's World Cup Chief Operating Officer Colin Smith told a news conference in Doha.

US officials not invited to Saudi's 'Davos in the Desert'

The organisers of the Saudi investment conference known as 'Davos in the Desert' said they will not invite US government officials, in a major departure from previous years which comes amid rising tensions between Washington and Riyadh. The Future Investment Initiative (FII), a three-day conference set to begin on 25 October in Riyadh, typically draws Wall Street titans and high-ranking officials from around the world, and up to 400 American CEOs are expected to participate this year, said Richard Attias, CEO of the group behind the event.

Saudi Crown Prince announces $400 million in humanitarian aid for Ukraine

Saudi Arabia’s Crown Prince Mohammed bin Salman has announced $400 million in humanitarian aid for Ukraine, the official SPA news agency reported. It followed a phone call between the Crown Prince and President Volodymyr Zelenskyy on Friday where the Crown Prince emphasized “the Kingdom's position of supporting everything that will contribute to de-escalation, and the Kingdom's readiness to continue the efforts of mediation,” SPA reported. The humanitarian aid package for Ukraine will contribute to alleviating the suffering of Ukrainian citizens in the wake of the Russia-Ukraine conflict.

Saudi Crown Prince Launches National Industrial Strategy

Saudi Crown Prince Mohammed bin Salman bin Abdulaziz launched the National Strategy for Industry, which aims to promote industry and attract investment, leading to economic diversification and growth of non-oil exports and GDP. The National Strategy for Industry will increase growth in the sector, bringing the number of factories to about 36,000 by 2035. The Strategy focuses on 12 sub-sectors to diversify the industrial economy in the Kingdom while identifying more than 800 investment opportunities worth $266 billion, beginning a new chapter of sustainable growth for the sector. It seeks to achieve ambitious economic returns for the Kingdom by 2030, including increasing industrial GDP threefold and doubling the value of industrial exports to reach $148.5 billion.

Making waves and skirting sharks: Mariam bin Laden on her Saudi Arabia-Egypt swim

Saudi endurance swimmer Mariam bin Laden has made history again — this time as the first woman and first Arab to swim from Saudi Arabia's Tiran Island to Sharm El Sheikh in Egypt. Bin Laden, a dentist and advocate for Syrian refugees, joined fellow endurance swimmer and UN Patron of the Oceans Lewis Pugh in the Coral Swim event in the Red Sea. They were aiming to bring attention to the devastating effects of climate change on coral reefs ahead of Cop27.

Saudi Arabia to host WTTC Global Summit next month

The 22nd World Travel and Tourism (WTTC) Global Summit is set to take place in Riyadh, Saudi Arabia from 28 November to 1 December 2022. The event will host industry leaders and key government representatives with the goal of driving support for the travel and tourism sector’s ongoing recovery, moving it to a safer, more resilient, inclusive and sustainable future, according to the WTTC. The event will include a lineup of speakers, including Arnold Donald, chair of World Travel & Tourism Council and HE Ahmed Al Khateeb, Minister of Tourism for Saudi Arabia.

3:13 - The census in Saudi Arabia is starting to reveal interesting data points on Saudi Arabia’s population. Saudi Arabia’s population reached 34 million people in 2021, according to a recent report by Saudi Arabia’s Ministry of Health and published in the Saudi Gazette, at an annual growth rate of 9.3%. Saudi Arabia’s population has grown 16.8% during the past ten years in which data are available and published by the Ministry (2012-2021).

12:18 - Riyadh Season details are here, and it’s going to be a big one. Lucien’s one big thing is the expanded third edition of Riyadh Season, which will kick off on October 21st 2022 under the slogan “Beyond Imagination” with an international show by Cirque du Soleil, the General Authority for Entertainment has announced. The Chairman of the Board of Directors of the General Entertainment Authority (GEA), Turki Al-Sheikh, announced details of the season at a launch event on Wednesday.

Al-Sheikh said that the new season would consist of 15 areas, including the Boulevard World, which would display restaurants, markets and arts from several regions around the world, including America, France, Greece, India, China, Spain, and Japan, Morocco, Mexico, in addition to the Italian city of Venice, Asharq Alawsat reports. The Boulevard World will also include the world’s largest artificial lake, allowing visitors to enjoy riding submarines for the first time in Riyadh.

21:41 - Colby Connelly, Senior Analyst at Energy Intelligence and non-resident scholar at the Middle East Institute, Joins The 966 to talk about the recent decision by OPEC+ to slash production targets, causing an uproar in the United States. “It is unfortunate that many of the nuances impacting the decision have been overlooked…allegations that Riyadh is openly siding with Moscow have been vastly overblown,” Connelly writes in MEI. The 966 asks about the technical side of the production cuts and what’s to come in the months ahead. 

54:27 - Yallah! 6 top storylines to get you up to date headed into the weekend:

•Women no longer required to bring male guardian to Hajj and Umrah
Saudi Arabia has made the historic decision to allow women to attend the Hajj and Umrah pilgrimages without a "mahram" or male guardian. Speaking at the Saudi embassy in Cairo, Tawfiq Al Rabiah, Saudi Arabia's Minister of Hajj and Umrah, said: "A woman can come to the kingdom to perform Umrah without a mahram."  The announcement ends a decades-long rule imposed by Saudi Arabia, although exemptions have been given to females attending the Hajj or Umrah pilgrimage with large groups of other women.

•Netflix Unveils Upcoming Arab Films & Series
Netflix has previewed a selection of upcoming films and shows aimed at the Arab world and hailing from Saudi Arabia, Kuwait, UAE, Egypt, and Jordan. The global platform has been steadily making inroads into the Middle East and North Africa since 2015, in the face of fierce competition from local players such as MBC’s Shahid VIP and Starzplay. The new productions, mainly due to launch in 2023, include Saudi Arabian feature Alkhallat+, a satirical suspense film based on the hit online show Alkhallat, which was first released in 2017 and received more than 1.5 billion views across YouTube and social media.

•Saudi Arabia’s industrial production rises by 16.8% in August
Saudi Arabia’s Industrial Production Index increased by 16.8 percent in August compared to the same period a year ago, according to the latest General Authority for Statistics report. The growth in IPI was primarily driven by high production in the three subsectors — mining and quarrying, manufacturing, and electricity and gas supplies, official data showed. The growth of the IPI turned positive in May 2021, and it has been growing continuously since then. This comes after negative trends witnessed during 2019 and 2020 due to the impacts of the pandemic.

•Venture capital funding for Mena start-ups hits $2.3bn and is on track to beat 2021 total
Venture capital funding for start-ups in the Middle East and North Africa rose 20 per cent annually to more than $2.3 billion in the first three quarters of 2022, putting it on track to potentially surpass the total investments attracted in 2021, a study carried out by Magnitt has found. Funding reached $512 million in the third quarter, which was the lowest since the first quarter of 2021, the data intelligence company said in its quarterly update, citing global economic and geopolitical factors. That, however, put total funding in 2022 at more than 80 per cent of the 2021 level, leaving the industry with a full quarter to match or even surpass last year's total of about $2.8bn.

•Saudi Arabia leaps ahead in World University Rankings 2023
Times Higher Education released the results of its World University Rankings 2023, which showed the UK’s University of Oxford retaining its top spot for the seventh consecutive year. King Abdulaziz University has risen from 190 in 2022 to a joint-101 spot in the 2023 table, making it the highest ranked university in the Middle East and achieving the best ranking ever by a Middle Eastern university in this table. “Not only has King Abdulaziz University risen dramatically to move within a whisker of the world top 100 to lead the entire Mena region, but other leading institutions have also made strong progress and Saudi Arabia’s overall representation in the World Rankings has increased — from 15 universities ranked last year, to 21 this year.

•Saudi Health plans 100 partnership projects worth $13bn
Saudi Arabia has announced a major plan to involve the private sector in 100 health projects over the next 5 years, resulting in $13 billion investment opportunities. The initiatives announced by Saudi Health for public-private partnership, including the operation of two new medical cities, a project to provide 900 beds for medical rehabilitation and long-term care services, as well as restructuring 200 primary care centers, and providing air medical evacuation services, said Health Minister Fahd Al Jalajil.

2:38 - Richard's one big thing is Saudi Arabia's Ministry of Commerce has announced ten initiatives to develop the e-commerce retail industry, and the initiatives are based on the results of a survey “Consumer’s Voice”, conducted by the Ministry of Commerce to gauge the level of consumer satisfaction with the performance of online stores. 

14:39 - Lucien's one big thing is actually two big things. First, Lucien comments on a changing Riyadh having just returned from the Saudi capital, and why much is different and yet some things will stay the same. Then he provides an update on the latest with LIV golf's quest to get its players crucial world ranking points so that they can compete in major events in the sport. 

34:06 - The 966 welcomes Dr. Abdulaziz Alanazi, assistant professor at King Saud University in Riyadh, who discusses his work that recently won a very prestigious international water award. Dr. Abdulaziz, along with his colleagues at the University of Cincinnati, won a very prestigious international award for their work studying ways to address water pollution. The Prince Sultan Bin Abdulaziz International Prize for Water was awarded to Dr. Abdulaziz and his colleagues for their work developing advanced oxidation technologies and nanotechnologies to monitor and treat emerging toxins and other contaminants of emerging concern in water. 

1:14:00 - Yallah! 6 top storylines to get you up to date headed into the weekend. 

•Mohammed bin Salman named prime minister
Saudi Arabia's Crown Prince Mohammed bin Salman has been appointed prime minister - a post that is traditionally held by the king. A royal decree announcing his promotion from deputy PM and defence minister cited an exception to the Basic Law. An official told Reuters news agency the move was in line with the king's previous delegation of duties to him. "The crown prince... already supervises the main executive bodies of the state on a daily basis, and his new role as prime minister is within that context," the official said. The 37-year-old son of King Salman bin Abdulaziz, 86, is already seen as the de facto head of government for Saudi Arabia. The decree named another of his sons, Prince Khalid bin Salman, as the new defence minister. A third, Prince Abdulaziz bin Salman, remains in the key role of energy minister.
  
•Saudi Arabia forecasts lower growth, revenue for 2023 amid uncertain global economic outlook
Saudi Arabia, which is forecasting a decade-high economic growth of 8% for 2022, is projecting its GDP will slow to 3.1% growth in 2023, the ministry of finance said in a preliminary 2023 budget report released on Sept. 30. Saudi Arabia is also forecasting its total revenue, including oil income, will drop in 2023 in a conservative baseline scenario. The ministry's preliminary estimates are projecting an 8.1% decline in fiscal revenue to $299 billion in 2023 from a year earlier. "This is due to the direction that the government is adopting in basing the estimates of oil and non-oil revenues in the budget on conservative standards in anticipation of any developments that may occur in the domestic and global economy," the ministry said.

•Saudi to host Asian Winter Games in NEOM megacity
Saudi Arabia was chosen on Tuesday to host the 2029 Asian Winter Games at NEOM which planners say will feature a year-round winter sports complex. The Saudi bid was "unanimously approved", the statement said, noting that NEOM will be the first West Asian city to host the event.  The Asian Winter Games are slated to take place in Trojena, an area of NEOM "where winter temperatures drop below zero celsius and year-round temperatures are generally 10 degrees cooler than the rest of the region", according to the project's website. Set to be completed in 2026, Trojena will include year-round skiing, a manmade freshwater lake, chalets, mansions and ultra-luxury hotels according to the website. The Asian Winter Games include competitions for skiing, snowboarding, ice hockey and figure skating -- 47 events in all, 28 on snow and 10 on ice.
 
•Saudi Arabia's Savvy Games Group launches $38bn investment strategy
 Saudi Arabia's Savvy Games Group, owned by the country's sovereign wealth fund, the Public Investment Fund, has unveiled its new investment strategy, as the kingdom seeks to become one of the world's major gaming hubs. The group plans to invest $38bn across four programmes, each with specific objectives, the Saudi Press Agency reported. The programmes include the acquisition and development of a leading game publisher to become a strategic development partner and making a series of minority stake investments in key companies that support Savvy’s game development agenda. They also include diversified investments in industry disrupters to grow early-stage games and esports companies as well as investing in mature industry partners who add value and expertise to Savvy’s portfolio.
 
•The Saudi Downtown Company (SDC), a company created under the aegis of the royalty and therefore the Public Investment Fund (PIF), will promote the launch of projects in various regions of the country, creating new jobs, with a view to improving the infrastructure of many cities and building strategic alliances with the private sector. The projects to be developed will be in twelve cities including Al-Khobar, Al-Ahsa, Buraidah, Najra, Jizan and Arar.
 
•Saudi Telecom Co., the Middle East’s most profitable mobile operator, plans to spend about $1 billion to transform the kingdom into a regional data hub, and may sell a stake in its Center3 business to finance the plans. The investment over the next five years by Center3, as the data unit is known, would help Saudi Arabia host more media, gaming and corporate data, according to Mohammed Alabbadi, STC’s chief carrier and wholesale officer and chairman of Center3. It would also follow an initial investment of $1 billion on building data centers and submarine data cables

2:38 - Saudi Arabia has been ranked 3rd top destination for migrants for the second year in a row, According to the UN World Migration Report 2022. Richard’s one big thing is the World Migration Report 2022, the eleventh in the world migration report series, which has been produced to “contribute to an increased understanding of migration throughout the world.”

The report can be accessed here: https://worldmigrationreport.iom.int/wmr-2022-interactive/

12:58 - Big cats! Saudi Arabia welcomes birth of 2 Arabian leopards in the latest win for Kingdom’s conservation efforts. Lucien’s one big thing is this story, which is the latest development in Saudi Arabia’s recent emphasis on natural conservation. Saudi Arabia’s Princess Reema Bint Bandar Al-Saud, the Ambassador to the United States, has personally championed the cause of big cat conservation, having founded a charity called Catmosphere and emphasizing the critical need to ensure big cats globally survive and are reintroduced to the wild.

You can see Assouline’s book on Big Cats here: https://bit.ly/3pMvUm8

22:17 - Yallah! 6 top storylines on Saudi Arabia to get you up to speed headed into the weekend.

•New Saudi Companies Law 2022: Key Changes, and Next Steps for Companies in KSA

On 28 June 2022, the Saudi Cabinet of Ministers approved the New Companies Law, and it was published in the official gazette (Umm Al Qura newspaper) on 4 July 2022. The New Law will come into effect on or around 1 January 2023, replacing the previous Companies Law which was issued 10/11/2015 and the Law of Professional Companies issued 25 September 2019. The implementing regulations of the New Law are expected to be released prior to the New Law taking effect.

•Salman Rushdie attack ‘unacceptable’ to Islam, says MWL chief Al-Issa
Muhammad bin Abdul Karim Al-Issa, secretary-general of the Muslim World League, called the attack on writer Salman Rushdie “a crime that Islam does not accept.” In an interview with Arab News on the side of his participation in a conference on inter-religious dialogue in the Italian city of Rimini, he said: “Islam is against violence and can never admit any method of violence. Religious and intellectual issues, including phrases that may read in full or partly as offensive, cannot never be dealt with in these violent ways.”

•Pride of Ukraine: Usyk beats Joshua, keeps heavyweight belts
Oleksandr Usyk kissed the blue-and-yellow flag of Ukraine and looked to the Saudi Arabian sky as he waited to discover if he had honored his war-torn country by retaining his world heavyweight titles. Six months ago, he was patrolling the streets of Kyiv with an automatic rifle and defending Ukraine from the invading Russians. Inside the King Abdullah Sport City arena, the still-undefeated Usyk lived up to his billing as the sporting pride of Ukraine by beating Anthony Joshua in a closely fought rematch to keep his WBA, WBO and IBF belts. “I devote this victory to my country, to my family, to my team, to all the military defending this country,” the 35-year-old Usyk said through a translator. “Thank you very, very much.”

•Saudi Energy Ministry completes legal framework for rollout of EV charging stations
Saudi Arabia’s Ministry of Energy, in cooperation with other related government agencies and in integration with the private sector, haslaunched the regulations for the rollout of electric vehicle (EV) charging stations so as to ensure quality, efficiency and protection of users and facilities across the Kingdom, according to a report in Saudi Gazette.

•KAPSARC sets new record in Saudi Arabia with five LEED EBOM Platinum certifications
The U.S. Green Building Council (USGBC) awarded King Abdullah Petroleum Studies and Research Center (KAPSARC) in Saudi Arabia five Leadership in Energy and Environmental Design (LEED) Platinum certificates under the Existing Building: Operation and Maintenance (EBOM) rating system with a rating of over 80 points. KAPSARC’s facilities are the only buildings in the Kingdom to have achieved LEED-EBOM Platinum certification.

•Saudi Arabia’s Crown Prince Mohammed bin Salman inaugurated the master plan for the ‘Rua al-Madinah Project’ that lies east of the Prophet’s Mosque.
The Saudi Press Agency reported on Wednesday that the project will increase the occupant capacity and be able to host 30 million Umrah pilgrims.

1:35 -- The IMF this week maintained its economic growth forecast for Saudi Arabia at 7.6% this year, likely placing it among the top growing economies in the world in 2022. Richard's one big thing this week is the release of the report, in which The IMF said it expected the kingdom’s non-oil gross domestic product to grow by 4.2% this year. Also, Saudi Arabia's fiscal surplus is likely to be 5.5% of GDP.

9:46 - Saudi Arabia’s Public Investment Fund (PIF) bought shares in Alphabet, Zoom Video, and Microsoft this week as part of a wider pick of U.S. stocks, bringing the market value of the sovereign wealth fund’s investment portfolio to about $40.8 billion at the end of the second quarter. Lucien's one big thing this week is discussing the recent stock buy by the PIF. The PIF, with $620 billion in assets, also added to positions it held in Facebook Inc. owner Meta Platforms Inc., PayPal Holdings Inc. and Electronic Arts Inc. in the second quarter, according to a SEC 13F filing by the PIF, a quarterly report that is required to be filed by all institutional investment managers with at least $100 million in assets under management.

17:36 - The 966 interviews Dr. Saad Alshahrani, Deputy Minister for economic affairs and investment studies at Saudi Arabia's Ministry of Investment. Dr. Saad joins The 966 from Riyadh to talk about the Saudi economy, investment opportunities, and reforms in the Kingdom. The hosts also ask Dr. Saad about the red hot tourism sector in Saudi Arabia and the opportunities there. He also shares his story of studying in the U.S. and journey to becoming a deputy minister.

1:03:10 - Yallah! 6 top storylines on Saudi Arabia this week to get you up to date headed into the weekend.

High oil prices help Saudi Aramco earn $88B in first half

Saudi energy company Aramco reported that its profits jumped 90% in the second quarter compared to the same time last year, helping its half-year earnings reach nearly $88 billion. The increase is a boon for the kingdom and the crown prince’s spending power as energy companies worldwide rake in big earnings, the AP reports.

Time Out Riyadh Restaurant Awards shortlist 2022: nominees revealed

For more than 20 years, Time Out’s reviewers have conducted anonymous, independent restaurant visits in the region, booking anonymously and paying for every meal in order to establish which restaurants are truly worth diners’ time and money. The Time Out Restaurant Awards are the longest-running, most established dining awards in the Middle East. In 2022, the Time Out Riyadh Restaurant Awards will be held for the very first time. Following 12 months of anonymous restaurant reviews, taking in all corners of the city, and the full spectrum of price points and dining experiences, Time Out presents a shortlist of 150 of Riyadh’s best restaurants across 17 categories. The winners will be revealed September 15th. 

Digital payments exceed cash for first time in Saudi Arabia with 94% transaction value 

Electronic payments exceeded the use of cash for the first time in Saudi Arabia in 2021, with these transactions representing 94 percent of all payments when measured by value, a study conducted by the Saudi Central Bank revealed. In terms of volume, the use of electronic payments increased to 62 percent last year from 44 percent in 2019 across all areas of economic activities. The Saudi government sector has almost completely converted to electronic payment methods for all outward payments to individuals, business establishments or other government agencies, the report noted.

As President Biden looks to close GITMO, Saudi Arabia emerges as an option

According to a report in the New York Times, Thirty-six prisoners remain at Guantánamo Bay today, and Saudi Arabia’s reintegration center for recovering Islamic extremists may be an option for President Biden, who is looking to close the detention center in Cuba. Saudi Arabia’s program, with its campus in Riyadh, and another in Jeddah, grew from a counterterrorism campaign that began in 2004 to re-educate citizens who had made their way home from jihadist training camps in Afghanistan and others influenced by them.

Saudi Crown Prince leads washing ceremony of Holy Kaaba in Mecca

Saudi Arabia's Crown Prince Mohammed bin Salman Tuesday led the annual washing ceremony of the Holy Kaaba on behalf of Saudi King Salman bin Abdulaziz, the Saudi Press Agency reported. The Crown Prince was accompanied by a number of dignitaries and carried out the ceremony, which is part of the tradition set by Prophet Mohammed, after performing prayers.

Photos show progress made on Saudi Arabia’s Red Sea Project, guests expected in 2023

Images shared by the CEO of the Red Sea Development Company (TRSDC) John Pagano show significant progress made at the Ummahat Islands reserve site.

Playing host to Nujama, part of the luxury hotel-chain Ritz Carlton’s Reserve collection, the 82-key resort will welcome guests in 2023, according to Pagano.