The 966

The rapidly evolving venture capital environment in the Middle East, Gulf and Saudi Arabia is in focus in this special conversation for The 966. 

1:00 -- Saudi Arabia's incredible, award-winning pavilion at Dubai's Expo 2020 signed off with a big ceremony. Will Saudi Arabia host Expo 2030? Of the top 5 candidate-cities, two are in Russia and Ukraine. The Russian invasion of Ukraine weakens their candidacy, leaving Saudi Arabia in competition with only Italy (which hosted in 2015) and South Korea.  So, what would an Expo 2030 Riyadh Saudi Ar...

0:57 - A new personal status law in Saudi Arabia is set to be a game-changer for Saudi women, in addition to having significant real-life impact for everyone in Saudi Arabia. The personal status law is one of the four laws announced by the Crown Prince Mohammed bin Salman bin Abdulaziz in February, which is designed to enhance the efficiency and integrity of the kingdom's judicial system – a move...

Nusf specializes in preparing and qualifying women for executive leadership in Saudi Arabia. The organization was founded to help Saudi and Arab women develop professionally, lead in the corporate world, and make a lasting positive impact on society. Nusf is committed to advancing the Kingdom’s national development agenda and Vision 2030 objective of increasing women’s participation in the workfor...

2:36 - Where is shale oil and why isn't it more impactful in the U.S. energy mix? U.S. shale oil production transformed global energy markets when it helped U.S. oil production go from just under 4mbd in September 2008 to 13.1 mbd in February 2020. And, despite rapid depletion rates, shale oil production is cheaper and faster to bring online than traditional methods of oil production. By 2014 U.S....

1:49 - Lucid's new Saudi plant is official. Lucid announced a long-term plan to bring advanced automotive manufacturing to Saudi Arabia to address global demand. The plant will be designed for a maximum annual production capacity of 150,000 vehicles. Lucid estimates that the site could result in up to $3.4 billion in value for the company over 15 years. The plant is expected to create “several tho...

1:29 - Richard's one big thing this week in Saudi Arabia is an update to Saudi Arabia's founding story as the Kingdom celebrated its Founding Day on February 22.   Earlier this year, the government announced the new holiday will be celebrated with a day off for both public and private sector workers, and released a vintage-looking logo used to mark the event. The Saudi English-daily Arab New s fea...

2:10 - Richard's "One Big Thing" this week: Al Dawaa Medical Services Co., one of the largest pharmaceutical retail companies in Saudi Arabia, will list 25.5 million shares on the Saudi Stock Market (Tadawul) seeking to raise about $500 million. Al Nahdi Medical Co., the kingdom’s largest pharmacy retail chain, plans to seek about $1.3 billion in an IPO in the next few months in what could be the...

Saudi Arabia’s changing society, economy, and the impact of King Salman with guest David Rundell, author of the book Vision or Mirage, Saudi Arabia at the Crossroads. 7:16 - Richard's one big thing this week is the Saudi Games 2022 will welcome 6,000 athletes in March - the first time this huge event has been held in the Kingdom. 6000 athletes from both sexes will compete in 45 sports in the host...

1:48 - Richard's one big thing is the announcement of Saudi Arabia's Founding Day - a new holiday in Saudi Arabia. Saudi Arabia's Council of Ministers has chosen Feb. 22 to commemorate the Founding Day of Saudi Arabia. Annual celebrations will recognize the foundation of the first Saudi state in 1727 by Imam Mohammed bin Saud, a move that brought unity, peace, and stability to the Arabian Peninsul...

1:16 - Richard’s one big thing is a recent item by Ali Shihabi for the Hoover Institution , The Saudi Succession And The Sociocultural-Religious Reforms Of Mohammed Bin Salman. 4:43 - Lucien's one big thing is Saudi Arabia's Public Investment Fund (PIF) has created a new hospitality company called The Boutique Group that will transform palaces into ultra-lux hotels. The Boutique Group will convert...

3:15 - Richard's One Big Thing this week is fintech startup Tamara's big Series A investment. Riyadh-based buy now pay later platform Tamara has raised $110 million in a Series A round led by leading global payment processor Checkout.com. The hosts discuss this in the context of the Kingdom's growing venture capital ecosystem and the importance of startups for the Kingdom's Vision 2030 economic an...

0:45 - Richard's one big thing this week is Saudi Arabia in 2021 continued its exponential growth as a theatrical box office market. According to reports. Revenue totaling $238 million for the year, a 95% increase compared with 2020 when the total intake had been $122 million, according to figures provided by Comscore. Interesting news for the bourgeoning cinema industry in Saudi Arabia with an on...

Episode 20! The 966 Hosts discuss Gaussin's hydrogen-powered Dakar Rally truck in partnership with Aramco, why Saudi coffee is so delicious and how 2022 is "The Year of Saudi Coffee," the mining and minerals sector in Saudi Arabia, a discussion oil in 2022, and much more in the program's "Yallah" final segment. 1:00 - Richard's one big thing this week is the first hydrogen-powered truck to take pa...

The 966's first "topical" discussion format is with energy expert Kate Dourian, non-resident fellow at the Arab Gulf States Institute in Washington and contributing editor at MEES, the Middle East Economic Survey. Kate is also a former editor and veteran journalist covering energy and more in the region for Reuters and Platts, and joins The 966 from London.

The hosts kick off each each with their “one big interesting thing this week in Saudi Arabia.” Richard highlights a forthcoming conversation The 966 has with energy expert Kate Dourian and discusses dwindling new oil supplies coming on-line in 2021. Lucien notes that, while not a done deal, a PIF takeover of Inter Milan would be a big deal for Saudi Arabia’s global sports ambitions and would be a...

Today - with the holiday season fast approaching and Christmas on Saturday, The 966 features a special episode for today's weekly podcast. 3:35 - Lucid is building a factory in Saudi Arabia: Lucid has recently announced that the USA-based electric car manufacturer will be producing vehicles in Saudi Arabia by 2024. Lucid will be competing against its rival Tesla and hopes to outperform the Tesla M...

The 966 features an exclusive, two-part interview with Fahad Nazer, spokesperson for the Saudi embassy in Washington. In Part 2 of the interview, the hosts ask Mr. Nazer about a wide range of issues, including about Saudi Arabia's students in the United States, Iran, Saudi Arabia's relationship with Israel. The hosts also ask Fahad a little bit about growing up in the United States, including how...

1:00 - The Saudi Ministry of Culture hosted the Riyadh Philosophy Conference with a virtual talk from professor Michael Sandel. A major international conference on philosophy has been held in Saudi Arabia aimed at encouraging critical thinking, according to the BBC and other local sources. In a virtual appearance, Harvard professor Michael Sandel - who's been described as having the global profile...

1:04 - The UAE weekend is changing. The United Arab Emirates is changing its workweek to have half days on Fridays and a Saturday-Sunday weekend. 8:46 - The hosts discuss their first time visiting the Kingdom of Saudi Arabia - and how perceptions differed from reality on the ground. The 966 recently interviewed the Saudi Embassy in Washington's top spokesperson Fahad Nazer. One of his answers to a...

The 966 features an exclusive, two-part interview with Fahad Nazer, spokesperson for the Saudi embassy in Washington. In  part of the interview, the hosts ask Mr. Nazer about a wide range of issues, including Saudi Arabia's energy plans, the Kingdom's relationship with the U.S. Congress (and the Biden administration), the Jamal Khashoggi murder, and other domestic-focused topics in part 1 of this...

1:31 - A significant number of entertainment and other events in Riyadh this winter has transformed the Saudi capital. The hosts discuss the significant changes ongoing in Riyadh as the city hosts "Riyadh Season." The grouping of events as part of a massive season-long entertainment push has Saudis traveling from all over the country to visit the capital, as guest co-host Fahad Almaliki attested....

1:20 - Women's soccer in Saudi Arabia takes a big leap forward. Saudi soccer officials said they will launch the first edition of a women’s league. The new women’s league will be playing in two phases within the regional league, and sixteen teams will take part in the first phase with games played in three cities — the capital Riyadh, Jeddah and Dammam. Saudi officials also announced the hiring of...

1:35 - Richard's One Big Thing This Week is the recent U.S.-GCC statement on Iran. Diplomats from the U.S., Saudi Arabia and other GCC nations convened in Riyadh this week to discuss a coordinated effort to counter Iran’s “range of aggressive and dangerous policies,” the State Department confirmed in a statement. The U.S. GCC Iran Working Group Statement “affirmed the longstanding partnership betw...

2:58 - Rivian’s IPO. Rivian, the electric adventure vehicle company, IPOed this week. The stock began trading at $106.75 a share, giving Rivian a market valuation of $91 billion. 5:36 - Saudi Arabia gears up to host world’s largest camel fest.    8:24 - Saudi Arabia's Red Sea International Festival. This is Saudi Arabia's first-ever film festival, and it will run from December 6-15 in Jeddah, Saud...