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.