The TWENTY30

Fossil fuel consumption reaches record levels. But has it peaked? + Worker safety in the heat in KSA and much more...

Episode 16 of The TWENTY30 Podcast hosted by Hanaa Almoaibed and Lucien Zeigler once again finds the two hosts on direct opposite sides of the planet, with Hanaa in Singapore speaking at a conference and Lucien on vacation at his home in the United States. Listener feedback takes a light-hearted turn with comments on Lucien's “improving” tan, leading to a broader discussion on the cultural implications and personal anecdotes surrounding names and their meanings in different regions.
The episode's DEEP DIVE centers on a comprehensive new report from the Energy Institute, co-authored by KPMG and Kearney, detailing fossil fuel use in 2023. The report reveals that global fossil fuel consumption, driven largely by coal and oil, has reached record levels, with emissions surpassing 40 gigatons of CO2. The hosts discuss the urgency of these findings amidst a warming planet and increasing climate change impacts. They point out that although there is notable growth in renewable energy sources like wind and solar, especially in Europe and China, fossil fuels are still ever as dominant.
 
The hosts wrap the episode with a discussion of some of the latest news and reports on Saudi Arabia.
 
In the news this week:
•We begin with the Saudi Journalists Association's first-ever participation in the International Federation of Journalists' annual meeting, held in London. This milestone event marks a significant step for Saudi journalism on the global stage, as representatives from around the world gather to discuss the state of journalism, the challenges it faces, and the importance of international cooperation.
 
•A crucial worker safety regulation introduced by the Saudi Arabian Ministry of Human Resources and Social Development. Starting June 15th, 2024, a ban on working under direct sunlight between noon and 3 p.m. will be enforced. This measure aims to enhance the safety and health of outdoor workers during the scorching summer months, preventing heat-related illnesses and improving overall worker productivity. The importance of such regulations is underscored as Saudi Arabia strives for rapid and safe development.
 
•Saudi Arabia's achievements in the cybersecurity sector. The kingdom has secured second place in the Global Cybersecurity Index and made significant gains in the World Competitiveness Yearbook (WCY) for 2023. With a notable jump in the overall competitiveness ranking, Saudi Arabia has demonstrated its commitment to strengthening its cybersecurity landscape. The National Cybersecurity Authority plays a pivotal role in protecting the nation's critical infrastructure and economic sectors from cyber threats, showcasing Saudi Arabia's leadership in this vital area.
 
•Brazilian planemaker Embraer's strategic interest in Saudi Arabia as a key defense market. As Saudi Arabia looks to replace its aging fleet of Lockheed Martin's C-130 Hercules, Embraer is engaging with the kingdom to expand sales of its C390 Millennium military transport jet. This potential purchase highlights Saudi Arabia's ongoing efforts to modernize its defense capabilities and bolster its strategic partnerships.
 
•The Saudi Arabian Monetary Authority (SAMA) has published the annual performance report for the Saudi finance and real estate company sector for 2023. The report reveals a notable increase in paid-up share capital, total assets, and net income, reflecting the sector's solid financial performance and expanding economic landscape. The classification of loan portfolios and the importance of supporting micro, small, and medium enterprises (MSMEs) are also discussed, providing insights into Saudi Arabia's diversified economic growth.
 
Hanaa concludes the show by sharing the Arabic word/phrase of the day.
 
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Salman Al-Sudairi, leading Saudi lawyer and markets advisor talks new Saudi IPO regulations, reforms

Saudi Arabia’s Capital Market Authority recently published new guidelines for the offering and listing of foreign companies on the Kingdom’s Main Market, the Tadawul. Leading Saudi attorney and go-to advisor for nearly every major IPO in the past decade (including Saudi Aramco’s blockbuster 2020 listing and recent share sale) Salman Al-Sudairi joins The TWENTY30 Podcast for an exclusive conversation about the new rules and guidelines, the evolution of the Kingdom’s stock market, and how Vision 2030’s reforms are pushing greater interest in investing in Saudi Arabia. Salman Al-Sudairi is a partner at Latham & Watkins LLP, one of the leading law firms in Saudi Arabia. He’s worked on roughly 50 IPOs and offerings on the Saudi Stock Market, and has experience advising on all aspects of sukuk transactions and IPOs. Qualified to practice in both New York and Riyadh, Salman advises government entities, local and international companies, and private equity funds in complex commercial transactions in a wide range of industries. The new guidelines published by Saudi authorities clarify rules surrounding the three avenues through which non-Saudi companies may list their shares in Saudi Arabia, a subject of interest for companies looking to establish their presence in the Kingdom and tap into its capital markets. The regulations also stipulate that a non-Saudi company that wishes to cross-list or dual-list on the Main Market “must demonstrate the added value that it will bring to the Saudi Exchange and the Saudi economy as a whole.” Salman also discusses with The TWENTY30 Podcast the status of the legal profession in Saudi Arabia, the challenges and opportunities facing lawyers and companies working on setting up their operations in the Kingdom, and looks ahead to new changes and reforms potentially on the horizon. Joining The TWENTY30 Podcast hosts Lucien and Hanaa, Salman Al-Sudairi also discusses human capital in Saudi Arabia, particularly in his profession, and how he feels it is important for established large law firms to train and develop young Saudi legal talent. In addition to his role as leading markets advisor and attorney, Salman was also appointed by Supreme Order from HRH Crown Prince Mohmmed bin Salman in 2023 to serve on new board of directors of King Saud University. He also serves as a Member Board of Trustees at the Red Sea Film Foundation. You can read Latham & Watkins LLP’s report on the new changes, authored by Salman, here: https://www.lw.com/admin/upload/SiteAttachments/Saudi-Exchange-Publishes-Guidelines-for-Offering-and-Listing-of-Foreign-Companies.pdf
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Discussing the powerful imagery and viral visuals of the Hajj pilgrimage with Ghada Almuhanna

Eid Mubarak! In Episode 14, the hosts welcome Ghada Almuhanna back onto The TWENTY30 for her monthly segment to share insights into the diverse and culturally rich photographs taken during Hajj by pilgrims and the significance of these images. They highlight stories of personal experiences, historical visuals, and viral content that captures the essence of this spiritual journey. The conversation spans from the logistics and preparation for Hajj to the historical attempts of Europeans to document Mecca, showcasing Hajj as a unique and profound event uniting Muslims globally.
Before the conversation with Ghada, the hosts discuss the latest in Saudi sports investments, with news that the Kingdom is eying the creation of a new boxing league that would disrupt the sport.
The hosts conclude as always with a discussion of the latest news on Saudi Arabia.

Discussing Saudi film and cinema with leading Saudi documentary filmmaker Abdulrahman Sandokji and much more...

Abdulrahman Sandokji, a Riyadh-based leading documentary filmmaker joins hosts Hanaa and Lucien in Episode 13 of The TWENTY30 for an exclusive discussion about the status of film and cinema in Saudi Arabia and discusses his journey from having his first camera at age 15 to becoming a notable figure in the industry, directing and producing numerous projects featured on major broadcast channels and festivals, including the 10th Saudi Film Festival. 
Sandokji recently finished a documentary called “Underground” about Saudi Arabia’s growing music scene and reacts to the experience of filming the documentary, which follows artists around the Kingdom. He also discuses the impact YouTube had on his career, the significant role of the Ministry of Culture in supporting Saudi filmmakers, and his successful investigative documentaries like 'Phosphine.' He also shares his insights on the growing interest and importance of documentaries in Saudi Arabia, along with advice for aspiring filmmakers. His upcoming projects focus on exploratory TV series about ancient Saudi civilizations.
Before the conversation with Abdulrahman, the hosts discuss Hanaa’s deepdive, which is a discussion of fashion in Saudi Arabia in the context of what visitors should wear, what to expect and how to be respectful after a discussion of this topic a few weeks ago on the Kingdom’s Red Sea Fashion Week prompted a desire to spend more time on this subject. Hanaa highlights how the laws have changed over time and places this story of transformation within modesty laws and the fading role of the Haia.
The episode finishes up, as always, with some interesting recent news topics, including: 
-The Red Sea Film Foundation's storytelling training for aspiring filmmakers and a showcase of international documentaries
-Preparations for Hajj, with 2.1 million pilgrims arriving in Saudi Arabia and extensive logistical planning to ensure their safety. 
-Saudia’s negotiations with Boeing for wide-body jets, 
-A successful separation surgery of conjoined twins by a Saudi medical team
-The rebranding and new identity of Al Qadisiyah Football Club. 
 
For Episode 13’s “Arabic Word of the Show” summary, the hosts also explore the cultural practice of entering a room where people are eating without interrupting their meal.
 
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How can real estate drive Saudi Arabia's Vision 2030 to success?

Faisal Durrani, Partner and Head of Research, Knight Frank Middle East joins The TWENTY30 Podcast hosts Lucien and Hanaa for a discussion on a wide range of topics on Saudi Arabia's booming real estate sector, giga projects, construction, and other developments. Knight Frank is one of the world's leading real estate consultancies, and the reports that it produces especially on the markets in the Middle East is second-to-none. Its latest, "Destination Saudi," is over 140 pages of facts and data released by Knight Frank -- part of which stems from a survey done by the organization on consumer habits and interests in real estate in Saudi Arabia. 
Before the conversation with Faisal, the hosts discuss Hanaa's DeepDive, which is the status of ESG (Environmental, Social, Governance) initiatives in Saudi Arabia and how the Kingdom is evolving with ESG at the forefront of public and private sector management.  
The hosts conclude as always with a discussion of the news, including Hajj Preparations, a slow down in investment deals, drug smuggling, a new Saudi semiconductor hub, and the latest with OPEC+.
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Leading Saudi artist Manal Aldowayan discusses Venice Biennale, 'Shifting Sands', and art in Arabia

Saudi Arabia's leading contemporary artist Manal Aldowayan joins The TWENTY30 for an exclusive conversation and interview to discuss the Venice Biennale, her journey from computer science major to leading artist, and the development of art in Saudi Arabia. Aldowayan is representing Saudi Arabia at the 2024 Venice Biennale with a multimedia installation entitled Shifting Sands: A Battle Song, showing from April to November.
Manal AlDowayan is one of Saudi Arabia’s most significant contemporary artists working internationally. Her work, which spans various mediums including photography, sound, sculpture, and participatory practice, interrogates traditions, collective memories, and the status and representation of women. AlDowayan’s work has been exhibited regionally and internationally in the most prestigious art institutions such as  the Guggenheim and the Louvre Abu Dhabi, The British Museum, and many others. Born in Dhahran, Saudi Arabia in 1973, AlDowayan currently lives and works between London and Dhahran.
Before the conversation, co-hosts Hanaa and Lucien discuss Aramco's recent announcement of a share sale and some look into how a shift in dividends may attract more foreign investors. 
The host wrap up the show as always with a discussion of some of the latest news on Saudi Arabia. 
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***
About The TWENTY30 Podcast
New futuristic cities built from scratch. Giga-projects. Major sports investments. Trillions in spending. An economy and society changing so quickly even locals sometimes can’t believe their eyes. Saudi Arabia is on a mission to change itself from a conservative society with an oil-dominated economy to a modern and open society with a diversified economy - and to become a global tourism destination. Such a transformation has never before been attempted, and the stakes for the Middle East - and the world - are high. The TWENTY30 is a new media network and podcast that explores the seemingly endless dimensions of the social and economic transformations in Saudi Arabia, which few living outside the Kingdom can truly grasp. From the creator and co-host of The 966 Podcast comes a new platform that tackles the news, issues, challenges, and opportunities in Saudi Arabia and the Middle East region as it continues forward in a full-throttle effort to remake itself while the world watches. Featuring exclusive interviews, frank conversations, and in-depth topic exploration, The TWENTY30 is the first bi-weekly English program of its kind dedicated to uncovering and highlighting the road ahead for Saudi Arabia and the region and why it matters.

UBS Saudi Arabia Chairman Ramzi Abukhadra joins The TWENTY30 to discuss Saudi Arabia’s banking sector and real estate

This week, the hosts welcome onto the TWENTY30 Mr. Ramzi Abukhadra, Chairman of the Board of UBS Saudi Arabia and longtime banker in the Kingdom to give an overview and some analysis on the banking sector in Saudi Arabia. How far has the banking sector in Saudi Arabia progressed? How can local banks compete with a flood of international heavyweights? And where is Riyadh’s real estate market going as major government-backed projects begin to enter the market?
 
Lucien and Hanaa take the opportunity to ask these questions and more in the program’s “MainStage” segment, which the hosts are excited roll out now to our growing audience with some consistency going forward.
 
Ramzi’s brilliance is on full display in the conversation with Lucien and Hanaa, which takes advantage of Ramzi’s seasoned and experienced outlook with the market in Saudi Arabia.
 
Before the interview, the hosts discussion Hanaa’s “DeepDive,” which is a conversation about Zadk, the culinary organization in Saudi Arabia that is doing amazing work in the space and helping to serve as an incubator for the future culinary talent of the Kingdom of Saudi Arabia.
 
After the interview with Ramzi, the hosts discuss some of the latest news on Saudi Arabia.
 
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Can Saudi Arabia be the world’s next great aviation hub?

In the 10th episode of The TWENTY30, the hosts "celebrate" their "milestone" of 10 episodes before teasing two upcoming interviews as they start to introduce conversation segments to the program, featuring the some of the top voices and changemakers that are driving Saudi Arabia’s transformation plans. Regular publishing of that segment, called “The Mainstage,” begins in earnest this coming week as The TWENTY30 ramps up its operations.
In Episode 11, the hosts will talk with Chairman of the Board of UBS Saudi Arabia, Ramzi Abukhadra, a seasoned banker with a long career working in the finance sector in Saudi Arabia. 
Then in Episode 12, the hosts will host one of Saudi Arabia's most significant contemporary artists working internationally, Manal Aldowayan, who is representing Saudi Arabia at the Venice Biennale with her immersive and multi-layered art experience, Shifting Sands: A Battle Song. 
This week, Hanaa, back in London, and Lucien, still in Riyadh (with a makeshift audio situation — apologies for the quality 🙃) recap a busy week for Saudi Arabia. Lucien does a deep dive on Saudi Arabia’s aviation sector, discussing all the news and announcements from the Future Aviation Forum 2024 in Riyadh, where Lucien hosted a few on-stage panel discussions and more importantly, took some notes on a few of the more interesting facts that emerged from the Forum, both on aviation in general and Saudi Arabia’s pursuit of being the next global aviation hub. This lead to a discussion of Boeing and Airbus, turbulence, and much more.
Then hosts round out episode 10 with a discussion of some of the latest news from Saudi Arabia and the region, including Saudi Arabia's condolences over the death of Iranian President Ebrahim Raisi, The Saudi MHRSD's new regulations on flexiwork, and the Red Sea International Film Festival's activities in Cannes. 
 
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Swimsuits on the runway in Saudi Arabia at Red Sea Fashion Week, fast food real talk and more...

Lucien and Hanaa kick off Episode 9 spending probably too much time discussing and debating Chick Fil-A and fast food preferences as Hanaa wraps up her week in LA, where she is traveling to interview Saudi Arabia's brightest youth at the Regeneron event in California. 
Then, Hanaa's Deep Dive topic this week is the Red Sea Fashion Week (RSFW) in Saudi Arabia. The show was considered historic as models displayed swimsuits along Saudi Arabia's Red Sea coast, known for its stunning blue waters and white sand beaches. The three-day event commenced with an opening show, followed by two days of runway shows and activations, featuring luxury fashion, jewellery, Ready-to-Wear, and Resort Wear collections from both Saudi and international designers. 
That discussion leads to another on Saudi fashion, what to wear in Saudi Arabia for both men and women, how fashion is changing and the unique style of the Kingdom. 
The hosts wrap up the program discussing the latest news, including new rules on book sales in Saudi Arabia, British Airways' new route, AlShehana AlAzzaz, an US-Saudi energy cooperation roadmap and much more. 
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Changes at key Saudi leadership positions, avoiding 'overheating' as Saudi grows fast, and much more...

In episode 8 co-hosts Hanaa and Lucien are both still traveling and battling a very big time difference on both sides of the globe. “Chairman” Lucien tells us about his latest conference on Saudi Gigaprojects and construction. 
 
The co-hosts come together to do a deep dive on the encouraging direction the Saudi economy is headed in by discussing HE Saudi Finance Minister Mohammad AlJadaan’s comments about some of the Kingdom’s macro-economic trends at the Qatar Economic Forum this week. Al Jadaan addressed the importance of spending smart throughout the diversification project to avoid ‘overheating’ and ‘economic leakage’ - noting the drawbacks of growing too fast. Lucien helps contextualise this for anyone that is interested in investing in Saudi but is too heavily reliant on Western media that may paint any slowing down or change of course in a negative way. 
 
Co-hosts go on to highlight some key news talking about Saudi school calendars, banking, 5G and the United Nations. 
 
Hanaa highlights some key Arabic words throughout the episode - learn how to say news, grandma and ‘what do you call it’. 
Get this episode and other episodes emailed to you when they're ready with a summary. Join the fastest-growing email newsletter list on Saudi Arabia here for free:
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The TWENTY30 Podcast is a production of The TWENTY30 Media Group, LLC. 
 
©The TWENTY30. All rights reserved.