Red Sea

• OXFORD, England, July 4, 2023 /PRNewswire/ -- Diligencia, the leading provider of corporate intelligence solutions in the Middle East & Africa, and Red Sea Global, the visionary developer owned by Saudi Arabia's Public Investment Fund (PIF), announced a new partnership today that will enable Red Sea Global to forge new business relationships whilst meeting the highest standards of regulatory compliance.
• As a cornerstone of Saudi Arabia's Vision 2030, Red Sea Global is spearheading a new model of development as it builds two major responsible and regenerative tourism destinations, The Red Sea and Amaala.
• Diligencia is able to provide the information we need ahead of onboarding new partners," said Tareq Musmali, Group Chief Internal Audit Officer at Red Sea Global.
• "We are delighted to be working with Red Sea Global to assist with their third-party due diligence."

• Medvedev claimed such rights against the background of recent media reports on the mysterious sabotage of the Nord Stream undersea gas pipeline last year.
• The question of who was behind the attacks on the pipelines in the Baltic Sea on September 26 2022, however, remains unresolved.
• But the speculation stretches from western special forces or Ukrainian groups being behind the attack to it being a well-orchestrated Russian operation.

Vulnerable undersea cables

• As we have shown in a report to the European parliament of last year, subsea cables are the backbone of the contemporary digital economy.
• According to SubTelForum’s Submarine Cable Almanac as of the beginning of 2023, there were 380 cables in Europe on the ocean floor, mostly the size of a garden hose.
• If Russia is serious about its threats to cut cables, the main economic cost would be for repair work.
• For instance, several important cables surface in the port of Marseilles – and the English channel and the Red Sea have a high density of cables.

What’s behind the threat?

• Probably, this is also a message to two security events happening in the coming days and weeks and meant to increase the feeling of vulnerability and uncertainty.
• At the end of May, Ireland commenced a national consultative forum on security – online and on four separate days at the end of June.
• Ireland’s foreign minister, Micheál Martin, said the aim was to build public understanding and generate discussions on our foreign, security and defence policies.
• The particular focus would be on how Ireland wants to respond to the new security environment and whether to seek Nato membership.

• A year ago, the idea that Saudi Arabia – an absolute monarchy with few golf courses, scant public interest in the sport and a notorious human rights record – could suddenly leap to the top of the global golf hierarchy seemed impossible.
• Now, the new company will be chaired by Yasir Al-Rumayyan, the governor of Saudi Arabia’s sovereign wealth fund, or PIF.
• But even PIF’s deep pockets may not be deep enough to achieve the Saudi grand vision of bringing golf to the Arab masses.

An ambitious vision

• The fund’s venture into golf, according to Golf Saudi, a division of PIF, is part of a broader economic growth plan aimed at reducing the country’s reliance on oil and enacting sweeping societal and lifestyle transformations.
• One of the driest nations in the world hopes to build new golf courses, “spread the sport of golf among the Saudi society” and “enhance the Kingdom’s position in the game of golf locally and internationally,” as Golf Saudi noted on its website.

If you build it, will they come?

• But as I argue in my recent book, “Emerging Sports as Social Movements,” such an approach to sports often falls short.
• Similar cases in the U.S. point to an uphill battle for Saudi golf promoters.
• Heady predictions about emerging American sports have been just as optimistic – and potentially flawed – as those coming out of Saudi Arabia about golf.
• Meanwhile, soccer, as the joke goes, is America’s sport of the future — and always will be.

What money can’t buy

• The Saudi national team has been competitive in Asia for decades and has qualified for six FIFA World Cup tournaments.
• With vast oil wealth, Saudi Arabia showed the world how easy it is to buy a seat at the table of an elite sport.
• And yet, even if it built a string of world-class courses from the Red Sea to the Persian Gulf, golf still may not bloom in the desert without a golf culture and the one thing money alone cannot buy: a love of the game.

• The "Middle East, Turkey, Africa And Levant Video Surveillance Market | Trends, Value, Revenue, Analysis, Industry, Share, Segmentation & COVID-19 IMPACT: Market Forecast By Components, By Applications, By Countries And Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
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• Historical Data and Forecast of Middle East, Turkey, Africa and Levant Video Surveillance Market Revenues & Volume for the Period 2018-2028F
  Historical Data and Forecast of Middle East, Turkey, Africa and Levant Video Surveillance Market Revenues & Volume, By Components, for the Period 2018-2028F
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