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In today’s newsletter:

Stay informed with the latest updates from Arabian Business. Here’s what you missed over the weekend:

Dubai Police has advised the public to adhere to safety measures for the 53^rd Eid Al Etihad celebrations. Key guidelines include avoiding random marches or gatherings, obeying traffic rules, following police instructions, and refraining from using party sprays. These measures aim to ensure public safety and prevent disruptions during the festivities.

In other major developments, the UAE’s net wealth grew to $2.9 trillion in 2023, driven by a 10 per cent increase in financial wealth compared to 2022, according to Boston Consulting Group’s Global Wealth Report 2024. The growth outpaced the 8 per cent regional average for the Middle East and Africa. Globally, financial wealth grew 7 per cent in 2023 after a decline in 2022.

Meanwhile in Saudi Arabia, the kingdom has launched the Riyadh Metro, now operational on three lines: the Blue Line (Al-Olaya-Al Batha), Yellow Line (King Khalid International Airport Road), and Purple Line (Abdulrahman bin Aauf Street–Sheikh Hassan bin Hussain bin Ali Road). The remaining three lines will open sequentially. The metro forms part of the Kingdom’s urban development initiatives.

Aside from this, Saudi Arabia’s bid to host the FIFA World Cup 2034 has received an evaluation score of 419.8 out of 500, the highest in the tournament's history, according to FIFA’s Bid Evaluation Report. The official host announcement for the 2030 and 2034 tournaments will be made on December 11, 2024, at an extraordinary FIFA Congress.

In addition, Saudi Arabia’s sports sector has attracted 2.5 million tourists over the past four years, according to Minister of Sport Prince Abdulaziz bin Turki bin Faisal. Speaking at the 2025 Budget Forum, the minister highlighted the sector’s contributions to economic growth and global recognition, supported by leadership initiatives.

^{Until next time, Sharon Benjamin for Arabian Business}

THE LONGER READ:

War-torn Lebanon eyes economic rebound but reconstruction costs loom large and recovery hinges on reforms and presidential deadlock

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