In Episode 82, the 966 hosts fly solo and discuss some of the top developments of late on Saudi Arabia - and there are a lot of them. First, the hosts discuss Richard’s One Big Thing, which is the readout of the recent call between the U.S. National Security Advisor, Jake Sullivan, and Saudi Arabia’s Crown Prince Mohammed bin Salman. There were a lot of “Easter eggs” in that call’s readout from the U.S. side, especially the focus on new priorities and less on the traditional dynamics of U.S.-Saudi relations. Next, the hosts discuss Lucien’s One Big Thing this week, which is the Saudi-Iran thaw. When announced, the detente was surprising, and a timeframe of two months was declared. Lucien provides a timeline of what has happened since , and lays the foundation for a discussion on how Saudi Arabia’s foreign policy has shifted in just a few weeks - not just on Iran, but on Iraq, Syria, Yemen, Lebanon, and others. Then the hosts finish up as always with Yallah! A discussion of six top storylines on Saudi Arabia from the previous week to get you up to speed headed into the weekend.
3:47 - Richard’s One Big Thing is based on the readout of the recent call between the U.S. National Security Advisor, Jake Sullivan, and Saudi Arabia’s Crown Prince Mohammed bin Salman. There were a lot of “Easter eggs” in that call’s readout from the U.S. side, especially the focus on new priorities and less on the traditional dynamics of U.S.-Saudi relations.
Here’s what the Readout said from the U.S. side:
“National Security Advisor Jake Sullivan spoke with Crown Prince and Prime Minister Mohammed bin Salman Al Saud of Saudi Arabia today. They discussed a number of global and regional matters, to include ongoing diplomacy related to ending the war in Yemen. Mr. Sullivan highlighted the remarkable progress in Yemen over the past year, during which fighting has nearly ceased under a UN-mediated truce. He welcomed Saudi Arabia’s extraordinary efforts to pursue a more comprehensive roadmap for ending the war and offered full U.S. support for those efforts, noting that Special Envoy Tim Lenderking will be in the region over the coming days. Mr. Sullivan and Crown Prince Salman also discussed broader trends toward de-escalation in the region, while underscoring the need to maintain deterrence against threats from Iran and elsewhere. Mr. Sullivan reaffirmed President Biden’s unwavering commitment to ensure Iran can never acquire a nuclear weapon. Mr. Sullivan and Crown Prince Salman committed to stay in regular contact and to accelerate contact between the Saudi and U.S. national security teams on issues including the Partnership for Global Infrastructure and Investment (PGII), clean energy cooperation, and development and investment in cutting-edge Open Radio Access Network (O-Ran) 5G and 6G technologies.”
15:42 - Lucien’s One Big Thing this week, which is the Saudi-Iran thaw. When announced, the detente was surprising and a timeframe of two months was declared. A timeline of what has happened since lays the foundation for a discussion on how Saudi Arabia’s foreign policy has shifted in just a few weeks; not just on Iran, but on Iraq, Syria, Yemen, Lebanon, and others.
30:32 - Yallah! 6 top storylines to get you up to speed heading into the weekend.
Citigroup Sees Oil Falling Despite OPEC Efforts to Prop Near $80
Oil prices are likely to fall below $80 a barrel even with OPEC’s recent apparent efforts to support that level with unexpected cuts, according to Ed Morse, global head of commodities research at CitiGroup.
Saudi Arabia’s National Center for Privatisation (NCP) has announced the launch of 200 development projects across 17 sectors.
The initiative will provide local and international investors with an opportunity for advanced preparation to ensure their readiness to participate in the projects tendered to the market. Schemes include four airports, seven desalination plants, six wastewater treatment plants and 10 strategic water reservoirs. According to HE Mohammed Al-Jadaan, Minister of Finance, these projects will increase the attractiveness of the economy, create opportunities for local and international investor and increase private sector contribution to GDP.
Masters 2023: Jon Rahm won big, but so did LIV Golf
Jon Rahm was the day’s biggest winner. But LIV Golf, the breakaway tour that’s caused a civil war within golf’s ranks, scored a major victory of its own this weekend. Derided as a tour for washed-up former stars and unknowns, a money grab for has-beens and never-was’es, LIV this weekend put three players in the top 6 — Mickelson, Brooks Koepka and Patrick Reed — and 12/17 players made the cut. Whatever else LIV may be, on this weekend the breakaway tour came up big. “We're still the same people,” said Koepka, who held the clubhouse lead for three rounds and three holes. “I think that’s just manufactured by the media that we can’t compete anymore, that we are washed up.”
Hajj Minister: Makkah and Madinah now host 1.3 million foreign pilgrims and visitors
Minister of Hajj and Umrah Dr. Tawfiq Al-Rabiah said that Makkah and Madinah are witnessing a record number of foreign pilgrims and visitors and there are currently 1.3 million in the two holy cities. “All the procedures have been improved remarkably and there is a major qualitative shift in the movement of worshipers as well as in the facilities and services being provided to them inside the Two Holy Mosques.” he said while addressing a dialogue session as part of the first edition of the Manafea Forum, which kicked off here on Monday.
Middle East debt issuances nearly triple in Q1 2023 as Saudis take lead
Middle East and North Africa (MENA) debt issuances nearly tripled year-on-year from January to March 2023 to $26.9 billion compared to the previous quarter, marking the highest start to a year by proceeds since 2011. This is a major shift since last year’s total of $37.3 billion, the lowest full-year amount since 2011, according to American-British financial data company Refinitv. In Q1 of 2023, Saudi Arabia was the leading debt issuer in the MENA region.
Saudi Heritage Commission Includes 190 New Antiquities Sites in National Register
The Saudi Heritage Commission approved the registration and documentation of 190 new archaeological sites in the national register of Antiquities. There are now 8,788 such locations in the national register across the country, representing a national legacy that reflects the historical richness of the Kingdom. Asir region has the largest number with 35, followed by Al-Jouf with 32, Tabuk with 31, Hail with 23, Al-Qassim with 22, and the Eastern Province with 20. Of the new registrations, 11 are in Jazan, 10 are in the Makkah region, five are in Al-Baha, and one is in Madinah.