Saudi Arabia’s investment appeal driver for S&P Global decision to open regional HQ in Riyadh/node/2592814/saudi-arabia
Saudi Arabia’s investment appeal driver for S&P Global decision to open regional HQ in Riyadh
Saudi Arabia’s position as a preferred destination for global investors was the main driver behind S&P Global’s decision to open its regional headquarters in Riyadh this week, according to the Kingdom’s investment minister. (Shutterstock/File Photo)
Saudi Arabia’s investment appeal driver for S&P Global decision to open regional HQ in Riyadh
Saudi Arabia’s Minister of Investment Khalid Al-Falih welcomed the decision
Updated 07 March 2025
Arab News
NEW YORK/RIYADH: Saudi Arabia’s position as a preferred destination for global investors was the main driver behind S&P Global’s decision to open its regional headquarters in Riyadh this week, according to the Kingdom’s investment minister.
The move highlights the Kingdom’s growing significance in international capital markets and aligns with its broader economic transformation under Vision 2030, the corporation added.
“Establishing our Saudi Arabia regional headquarters in Riyadh is an important milestone for S&P Global’s growth and part of our long-term strategic commitment to investing in the region,” said Martina Cheung, president and CEO of S&P Global.
“With our expanded presence and dedicated leadership team, we are well positioned to better serve our clients, expand strategic partnerships, and power global markets,” she added.
Saudi Arabia’s Minister of Investment Khalid Al-Falih welcomed the decision, emphasizing the Kingdom’s increasing appeal to global firms.
“The decision to establish a regional headquarter in Riyadh by S&P Global signifies the growing prominence of Saudi Arabia as a preferred destination for investors seeking to mobilize and invest capital,” he said.
“This will assist in deepening the level of expertise within the market and improving the services accessible to the broad range of international investors operating in the Kingdom, totaling around 40,000, of which 590 have been licensed to date to open a regional headquarter office.”
The new RHQ builds on S&P Global’s existing presence in Saudi Arabia, following the opening of its Riyadh branch in 2017, when it became the first international credit rating agency to secure pre-approval from the Saudi Capital Market Authority.
The move comes at a time of rapid economic diversification in Saudi Arabia, as the government continues to implement reforms aimed at fostering private sector growth, attracting foreign investment, and enhancing the financial ecosystem.
S&P Global’s expanded presence will include representatives from all divisions of the company.
Recipe renaissance – traditional foods brighten Saudi iftar spreads with heritage
Arab News spoke to Saudis carrying the taste of family legacy forward during holy month
Updated 13 March 2025
Nada Hameed Waad Hussain
JEDDAH/RIYADH: Ramadan is helping revive traditional dishes in Saudi Arabia, as many families prepare foods distinctive to their region.
Tables across the Kingdom showcase great diversity during the holy month, with families passing down culinary traditions through generations.
The connection between Ramadan and these traditional dishes is rooted in customs, but their nutritional value also plays a key role. Often rich in energy-boosting ingredients such as meats and vegetables, they provide essential nutrients that replenish the body after a long day of fasting.
In the Northern Borders, al-khumei’ah is a well-known dish, while the Eastern Province is famous for its harees (slow-cooked wheat and meat soup), according to the Kingdom’s Culinary Arts Commission.
Riyadh’s signature dish is marqooq (thin dough with meat, onions, and spiced broth), whereas Qassim is known for its al-tawah pastry.
In Tabuk, al-mafroukah (dough with dates, honey, and butter) is a popular choice, while Jazan is renowned for makshan fish, cooked with onions and spices.
Hail offers al-baseesa (dough balls with date paste), and Asir is known for tasabee’ (a flour, milk and sugar mix).
Najran features al-wafd and al-maraq (dough balls), while Makkah is recognized for its red barley soup. In Madinah, sobiyah is a well-loved traditional drink made from barley or oats.
Al-Baha is known for its maraqa bread, while Jouf specializes in saj bread, an unleavened flatbread.
Young people are being drawn to traditional foods through social media.
“Living in this era where everyone’s trying to keep up with trends and compete on ‘who did it better’ along with the culture of sharing photos is a big motivation. But I can’t deny that nostalgia and emotional connection also play an important role,” said Maryam Al-Oufi.
Loza Al-Mahdi and Eman Al-Hussaini, a mother and daughter from western Saudi Arabia, believe these dishes represent important memories.
“No matter how many new recipes we try, traditional dishes have a special place because they hold childhood memories and connect us to the past.”
One staple that remains a must-have during Ramadan is maamoul, a date-filled pastry that holds deep cultural and spiritual significance.
Al-Mahdi said: “No Ramadan is complete without making maamoul. It’s something that brings the whole family together.”
Platforms like TikTok and X have made it easier to share and preserve traditional recipes. “Sharing recipes on TikTok or even posting pictures of dishes on X really helps with that,” Al-Oufi explained.
“When we see cool photos and videos, it gets us excited to try those dishes again and bring back recipes that had faded away.”
For many, Ramadan cooking is about familial legacy. “Families have the choice of continuing the tradition and passing it on to future generations or just burying it,” Al-Oufi stated.
Al-Mahdi emphasized the importance of hands-on learning: “I make sure to teach my children how to cook properly, just as I learned from my mother and grandmother.”
For some, certain dishes hold deep sentimental value. Al-Oufi recalls her grandmother’s attention to detail: “My grandma was very picky about food, especially when it came to the size and shape of the luqaimat. My grandma passed away, but her rules stayed with us.”
Similarly, Al-Hussaini shares a dish that remains close to her heart: “One of the most important dishes I have to make during Ramadan, and my kids love, is jaib al-tajir (merchant’s pocket).”
The Culinary Arts Commission has played a significant role in preserving traditional dishes by organizing a number of events and festivals that highlight Saudi heritage cuisine.
It has also documented preparation methods and cultural traditions, supported entrepreneurs, and published books and videos, helping to inspire interest in traditional foods.
Traditional markets and restaurants also play a major role in preserving these dishes, offering visitors the opportunity to experience authentic flavors and promoting traditional food culture across generations.
The Culinary Arts Commission promotes heritage foods during Ramadan by sharing special content on social media and its website.
This includes highlighting traditional Ramadan dishes, their preparation methods, historical origins, and cultural significance.
By sharing this knowledge, the commission encourages the community to appreciate and preserve Saudi culinary heritage during Ramadan.
Saudi joint forces chief receives UAE counterpart and delegation
Updated 13 March 2025
Arab News
Saudi Arabia’s Commander of the Joint Forces Lt. Gen. Fahd bin Hamad Al-Salman received Deputy Commander of the UAE Joint Operations Maj. Gen. Awad Saeed Al-Ahbabi and his accompanying delegation at the Armed Forces Officers Club in Riyadh on Wednesday.
During the meeting, they discussed various aspects of cooperation between the two sides, the Saudi Press Agency reported.
Al-Ahbabi expressed his gratitude for the warm hospitality and stressed the importance of joint coordination between the Saudi and Emirati sides for the benefit of the two countries.
Saudi FM discusses Gaza reconstruction with Arab counterparts, US envoy in Qatar
Arab ministers agree to continue consultations on Gaza plan as a foundation for rebuilding efforts
Foreign ministers of Egypt, Qatar, Jordan, and UAE take part in Doha meeting
Updated 12 March 2025
Arab News
RIYADH: Saudi Arabia’s Minister of Foreign Affairs, Prince Faisal bin Farhan, discussed the reconstruction plan for the Gaza Strip with his Arab counterparts and the US Middle East envoy Steve Witkoff in Doha.
Qatar’s foreign ministry said on Wednesday that “the Arab foreign ministers discussed the Gaza reconstruction plan, which was approved during the Arab League Summit held in Cairo on March 4, 2025. They also agreed with the US envoy to continue consultations and coordination on the plan as a foundation for the reconstruction efforts.”
Significant areas of the Gaza Strip are in ruins following 15 months of Israeli bombings and military operations in the enclave, which resulted in the deaths of nearly 50,000 Palestinians.
In February, US President Donald Trump proposed relocating residents of Gaza to neighboring countries, such as Jordan and Egypt. The idea was strongly rejected by Arab League countries, which held an emergency summit in March and advocated for a plan to reconstruct Gaza without displacing its residents.
The meeting in Doha on Wednesday was attended by the Qatari Foreign Minister, Mohammed bin Abdulrahman Al-Thani, and his counterparts from Jordan, Ayman Safadi, and from Egypt, Badr Abdelatty.
Khalifa Shaheen Al-Marar, the UAE minister of state for foreign affairs, and Hussien Al-Shiekh, secretary of the Executive Committee of the Palestine Liberation Organization, were also present.
NEW YORK CITY: Saudi Arabia has been on a transformative journey in recent years, particularly when it comes to women’s empowerment, with a range of once-unimaginable opportunities opening up in education, business, the workforce, and social life.
On the sidelines of the 69th UN Commission on the Status of Women, or CSW, chaired this year by Saudi Arabia, Princess Lamia bint Majid Al-Saud lauded the Kingdom’s strides toward gender equality and her vision for the future.
In a wide-ranging interview with Arab News, she highlighted the significant progress Saudi women have made, the challenges still on the horizon, and the critical role that the youth, especially young women, play in shaping the nation’s destiny.
“We have momentum. I think it is now our time to shine,” she said.
A key part of this momentum is the growing realization of the vast potential that Saudi women possess. With more than 9 million women in Saudi Arabia, 67 percent of whom are under the age of 30, the Kingdom holds an immense demographic advantage.
Princess Lamia
Princess Lamia said that the opportunities currently available to Saudi women in terms of education, employment, and empowerment were unprecedented.
“Can you imagine the amount of power? Can you imagine, with all the doors open for Saudi women, with all the support, with all the initiatives done, and the educational opportunities, and the training, the jobs, everything that is happening,” she said.
“This is our time. Now. There is no room for losing this opportunity.”
The event offered the Kingdom a chance to showcase the profound changes that have taken place in Saudi Arabia over the past decade — an opportunity that Princess Lamia said was historic.
“What happened, it was history,” she said. “We witnessed history with this amount of expertise of women sitting on the same panel in New York at the UN to present our success and our story.”
She said that it was a significant milestone not only for Saudi women but for the Kingdom as a whole, highlighting the country’s commitment to driving gender equality and empowering women across all sectors.
“For Saudi Arabia to chair the CSW, it’s well deserved,” she added.
Left to Right: Prof. Einas Al-Eisa, Dr. Maimoonah Al-Khalil, Prof. Hanan Al-Ahmadi, and Princess Lamia bint Majid at the 69th session of the UN Commission on the Status of Women in New York. (Supplied)
For Princess Lamia, the presence of so many accomplished women at the event underscored the progress women had made. She drew particular attention to the confidence and determination of the panelists.
“It was astonishing,” she said. “The amount of confidence that reflects that we’re free to choose our path.”
Despite the Kingdom’s rapid progress, Princess Lamia acknowledged that challenges remain. “Let’s be very honest, where is the country that is 100 percent free of challenges? There’s no such a thing,” she said.
“It’s about sustaining the process and sustaining the development, and how you keep it going on the right path and on a healthy path, and at a healthy speed.
“Yes, we’ve been very fast, but we’ve been very late — that’s why we work very fast. But to have it sustained, this is the most important thing.
“Of course, we still have challenges. We’re a very young country in our 90s, and we did all of that in nine years.”
She added: “But where we reached (in that time), I don’t think even Europe and the US have the same thing in empowering women.”
Princess Lamia shared an example, highlighting the differences between Saudi Arabia and other regions in terms of women’s rights.
In many Western countries, gender equality issues such as equal pay for women are still being debated in government institutions, she said. However, in Saudi Arabia, any instance of unequal pay can be addressed immediately through legal channels.
“In Saudi Arabia, any governmental entity, if I prove that a male is taking one riyal more than me, I can sue them instantly,” she said. “Where is that, but in Saudi Arabia?”
A significant part of Princess Lamia’s vision for women’s empowerment is grounded in the example set by Princess Nourah bint Abdel Rahman, the sister of King Abdulaziz, who played an instrumental role in shaping the Kingdom’s early years.
Such was her impact, the largest women’s university in the world is named after her.
“Princess Nourah bint Abdel Rahman is the figure of women’s empowerment,” Princess Lamia said, adding that there is still much to be learned from her legacy.
Princess Nourah’s contributions to Saudi society were multifaceted, as “the consultant, the minister of foreign affairs, the sister, the friend, everything,” and a key figure in the royal family, said Princess Lamia.
King Abdulaziz, Princess Nourah’s brother, took great pride in her achievements, often saying, “I am Nourah’s brother,” rather than emphasizing his royal status.
“Can you imagine? With the tribal mentality, a man to say this during wartime?”
Princess Nourah’s humility and commitment to empowering others resonates deeply with Princess Lamia, who views her as a beacon of strength and inspiration. “She’s a character I think I’m embodying (in the sense) that I truly admire her,” she said.
Princess Lamia also highlighted the vital role women play in philanthropy and social development. She emphasized the critical role that mothers play in shaping strong families and societies.
“Listen, if you want to have a developing nation, it needs to rely on its people, and mothers are the main pillars,” she said.
“If the mother is very well-educated, empowered, definitely the family will be strong. One woman has always been and will always be the main pillar of a family and of society. The only job that you cannot resign from is being a mother.”
Princess Lamia also reflected on her own journey in philanthropy, particularly as the secretary-general of Alwaleed Philanthropies, the charitable foundation led by the Saudi businessman and investor Prince Alwaleed bin Talal.
She said that Prince Alwaleed’s decision to place his trust in women to lead and shape his philanthropic vision had left a lasting impact on Saudi Arabia and beyond.
“The relation between men and women, it is how you build this world,” she said. “This is how God created us. We need men and they need us. No one can move and move forward without the other. That’s a fact.”
Princess Lamia paid tribute to the Kingdom’s crown prince for implementing many of the reforms now serving women’s empowerment.
“Prince Mohammed bin Salman … he is the savior of the Kingdom,” she said, adding that his Vision 2030 has been a game-changer for the Kingdom, creating equal opportunities for both men and women.
“Under his leadership, Saudi Arabia has taken significant steps toward gender equality, breaking down barriers that once seemed insurmountable.
“Would we be here today… without the vision of one person, Prince Mohammed bin Salman? No. Prince Mohammed, he created Vision 2030, he empowered us, he changed the country.
“He represents more than half of the population (youth), he is talking the same language. We’ve been waiting for that, us, (who are not of) this generation, we’ve been waiting for equal opportunities and gender equality.”
Reflecting on the collaborative spirit that now defines Saudi Arabia’s approach to women’s rights, Princess Lamia said: “We don’t have to fight with each other. We can work with each other.”
She added: “What we did, our generation, how we struggled to find our place in different positions, and how we paved the way for the upcoming generation, wasn’t easy. But I believe in (young women) so much that they can do much better than us.”
She encouraged young women to seize “the golden opportunity” that lies before them.
“No nation, around the world, ever experienced what we’re experiencing. You’re living the dream,” she said, urging the next generation to stand firm, to recognize their worth, and to build on the hard-won gains of those who came before them.
“Make us feel that it was worth it,” she said. “Look at us and say: ‘She had a very tough life. It wasn’t easy, but she made it. I want to be much better than her.’”
Saudi scouts volunteer 11,800 hours in first 10 days of Ramadan
Camp leader says it plays a vital role in promoting volunteerism and a positive image of the Saudi youth
Updated 12 March 2025
Arab News
MAKKAH: Makkah’s young scouts at the Saudi Arabian Scouts Association volunteered 11,800 hours during the first 10 days of Ramadan.
In collaboration with the Ministry of Education’s Makkah Department, the association’s pilgrim service camp deployed 295 scouts to assist Umrah performers in Makkah during Ramadan.
Ziyad Qadeer, the camp leader, said the camp plays a vital role in promoting volunteerism, patriotism, and a positive image of the Saudi youth, confirming that their services will continue throughout Ramadan.
The camp also collaborated with the General Authority for the Care of the Affairs of the Grand Mosque and the Prophet’s Mosque, the Makkah Health Cluster, and the General Directorate of Public Security.
