Media Minister: 2024 Marks Year of Media Transformation in Saudi Arabia

Saudi Minister of Media Salman bin Yousef Al-Dosary outlined key strategic aspects of the media system for the upcoming year. (SPA)
Saudi Minister of Media Salman bin Yousef Al-Dosary outlined key strategic aspects of the media system for the upcoming year. (SPA)
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Media Minister: 2024 Marks Year of Media Transformation in Saudi Arabia

Saudi Minister of Media Salman bin Yousef Al-Dosary outlined key strategic aspects of the media system for the upcoming year. (SPA)
Saudi Minister of Media Salman bin Yousef Al-Dosary outlined key strategic aspects of the media system for the upcoming year. (SPA)

Saudi Minister of Media Salman bin Yousef Al-Dosary expressed on Tuesday optimism about the future of Saudi media, anticipating numerous achievements and transformations across all sectors.

He outlined key strategic aspects of the media system for the upcoming year, detailing various projects and programs set to bring these features to fruition, while announcing 2024 as the "Year of Media Transformation."

"Today, we unveil the strategies for the Year of Media Transformation in the Kingdom, based on four pillars: figures, indicators, passion, and work, guided by a wise vision from the Custodian of the Two Holy Mosques and led by Crown Prince," said Al-Dosary at the opening session of the Saudi Media Forum 3 in Riyadh.

The event was attended by over 2,000 media outlets from within and outside the Kingdom.

Al-Dosary said the Saudi media industry has contributed SAR14.5 billion to the GDP in 2023, projecting an increase to SAR16 billion this year. He emphasized the industry's investment in human capital, which generated 56,000 employment opportunities last year, with expectations to reach 67,000 this year.

He presented three implemented strategies serving as a roadmap for the future of media, fortifying the sector, increasing investment attractiveness, and improving the effectiveness of national cadres. These strategies involve collaboration with over 30 government institutions, shaping the comprehensive strategic direction of the Kingdom's media system.

Al-Dosary discussed the Saudi Broadcasting Authority’s (SBA) strategy, aiming to expand the Authority, enhance business competitiveness, nurture media professionals and talents, and produce outstanding content for international digital platforms. He also highlighted the Saudi Press Agency's (SPA) strategy, focusing on improving its global network, offices, and correspondents while aligning media content with public expectations and contemporary developments.

Additionally, the minister spotlighted noteworthy projects, including the "Media Oasis" coinciding with the Kingdom's participation in major summits and events. This initiative engaged over 2,600 journalists from 60 countries, providing insights into more than 30 national projects. Initiatives, like the "Mediazone", have completed their work or are in the process of developing new editions to stay aligned with creative advancements in media arts and expertise.

Al-Dosary emphasized the significance of the Hajj and Umrah seasons, highlighting the recent launch of the "Hajj and Umrah Mediathon" project. This initiative encourages interested parties and media professionals to compete in developing media initiatives and projects promoting innovative and creative media coverage.

He also announced the initiation of the "Hajj Media Hub" project, aiming to establish an integrated media community and environment to assist media professionals in their coverage. Additionally, there will be an interactive media exhibition showcasing services during the Hajj season. The minister disclosed an anticipated outreach to more than 2,000 media professionals and international visitors.

Moreover, Al-Dosary announced the establishment of the Saudi Media Academy that aims to empower, develop, and train individuals in future disciplines. It also aims to form early and innovative strategic partnerships with major technology companies and global media platforms such as Google, Huawei, Alibaba, and others.

Following the minister's remarks, President of the Saudi Media Forum and Chairman of the Saudi Broadcasting Authority (SBA) Mohammed Al-Harthi delivered a speech highlighting a comprehensive development renaissance witnessed by the Kingdom at all levels and fields. He emphasized that the media serves as a mirror reflecting global changes.



Egypt Plans $1 Billion Red Sea Marina, Hotel Development

This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
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Egypt Plans $1 Billion Red Sea Marina, Hotel Development

This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)

Egypt announced plans on Monday for a new $1 billion marina, hotel and housing development on the Red Sea in a bid to boost the region's tourist industry.

Construction on the "Monte Galala Towers and Marina" project would ‌start in ‌the second ‌half ⁠of the ‌year and run for seven years, Ahmed Shalaby, managing director of the main developer, Tatweer Misr, said.

The 10-tower development - a partnership with the ⁠housing ministry and other state bodies ‌including the armed ‍forces' engineering authority - ‍would cost about 50 ‍billion Egyptian pounds ($1.07 billion), he added.

The project, also announced by the cabinet, will cover 470,000 square meters on the Gulf of Suez, about ⁠35 km south of Ain Sokhna, Shalaby said.

Egypt aims to boost total tourist arrivals to around 30 million by 2030, from around 19 million recorded by the tourism ministry in 2025.


Saudi-Polish Investment Forum Explores Prospects for Economic and Investment Cooperation

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
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Saudi-Polish Investment Forum Explores Prospects for Economic and Investment Cooperation

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA

The Saudi-Polish Investment Forum was held today at the headquarters of the Federation of Saudi Chambers in Riyadh, with the participation of Minister of Investment Khalid Al-Falih, Minister of Finance of the Republic of Poland Andrzej Domański, and Vice President of the Federation of Saudi Chambers Emad Al-Fakhri.

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation, expanding investment partnerships in priority sectors, and exploring high-quality investment opportunities that support sustainable growth in Saudi Arabia and Poland.

During a dedicated session, the forum reviewed economic and investment prospects in both countries through presentations highlighting promising opportunities, investment enablers, and supportive legislative environments.

Several specialized roundtables addressed strategic themes, including the development of the digital economy, with a focus on information and communication technologies (ICT), financial technologies (fintech), and artificial intelligence-driven innovation, SPA reported.

Discussions also covered the development of agricultural value chains from production to market access through advanced technologies, food processing, and agricultural machinery. In addition, participants examined ways to enhance the construction sector by developing systems and materials, improving execution efficiency, and accelerating delivery timelines. Energy security issues and the role of industrial sectors in supporting economic transformation and sustainability were also discussed.

The forum witnessed the announcement of two major investment agreements. The first aims to establish a framework for joint cooperation in supporting investment, exchanging information and expertise, and organizing joint business events to strengthen institutional partnerships.

The second agreement focuses on supporting reciprocal investments through the development of financing and insurance tools and the stimulation of joint ventures to boost investment flows.

The forum concluded by emphasizing the importance of continued coordination and dialogue between the public and private sectors in both countries to deepen Saudi-Polish economic relations and advance shared interests.


Gold Rises as Dollar Slips, Focus Turns to US Jobs Data

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
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Gold Rises as Dollar Slips, Focus Turns to US Jobs Data

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo

Gold prices rose on Monday, buoyed by a softer dollar as investors braced for a week packed with US economic data that could offer more clues on the US Federal Reserve's monetary policy.

Spot gold rose 1.2% to $5,018.56 per ounce by 9:30 a.m. ET (1430 GMT), extending a 4% rally from Friday.

US gold futures for April delivery also gained 1.3% to $5,042.20 per ounce.

The US dollar fell 0.8% to a more than one-week low, making greenback-priced bullion cheaper for overseas buyers.

"The big mover today (in gold prices) is the US dollar," said Bart Melek, global head of commodity strategy at TD Securities, adding that expectations are growing for weak economic data, particularly on the labor front, Reuters reported.

Investors are closely watching this week's release of US nonfarm payrolls, consumer prices and initial jobless claims for fresh signals on monetary policy, with markets already pricing in at least two rate cuts of 25 basis points in 2026.

US nonfarm payrolls are expected to have risen by 70,000 in January, according to a Reuters poll.

Lower interest rates tend to support gold by reducing the opportunity cost of holding the non-yielding asset.

Meanwhile, China's central bank extended its gold buying spree for a 15th month in January, data from the People's Bank of China showed on Saturday.

"The debasement trade continues, with ongoing geopolitical risks driving people into gold," Melek said, adding that China's purchases have had a psychological impact on the market.

Spot silver climbed 2.9% to $80.22 per ounce after a near 10% gain in the previous session. It hit an all-time high of $121.64 on January 29.

Spot platinum was down 0.2% at $2,092.95 per ounce, while palladium was steady at $1,707.25.

"A slowdown in EV sales hasn't really materialized despite all the policy softening, so I do see that platinum and palladium will possibly slow down," after a bullish run in 2025, WisdomTree commodities strategist Nitesh Shah said.