The 966 - Captagon in the Middle East, Messi's history with Saudi Arabia, and a conversation with Norah Ortiz, owner of Riyadh's first authentic Mexican restaurant

Captagon in the Middle East, Messi's history with Saudi Arabia, and a conversation with Norah Ortiz, owner of Riyadh's first authentic Mexican restaurant

05/05/23 • 95 min

The 966 Episode 85! The 966 hosts speak with Norah Ortiz, founder of the first authentic Mexican restaurant in Riyadh, Don Reuben's, which is located in the Diplomatic Quarter. Ortiz tells us her story as an American born in San Diego to Mexican parents and her journey to owning and operating the first authentic Mexican restaurant in a city increasingly becoming a hot spot for foodies. Before that discussion, the hosts talk about Richard's One Big Thing: a growing Captagon crisis in the Middle East and Syria's fall into becoming a narco state. Lucien's One Big Thing is Lionel Messi's long relationship with Saudi Arabia as rumors and reports swirl that he might be heading to Saudi Arabia to play for Al Hilal. The hosts then conclude as always with Yallah! 6 top storylines to keep you up to date heading into the weekend.

9:11 - Richard's one big thing is a growing Captagon crisis in the Middle East and Syria's fall into becoming a narco state. Captagon is a synthetic amphetamine-type stimulant, fenethylline and has become the center of an increasing number of drug busts across the Middle East. The vast majority of global captagon production occurs in Syria, with the Gulf region being its primary destination.

24:24 - MESSI TO SAUDI? Lucien's one big thing is what is dominating the headlines this week for the Kingdom. There are reports now, not just rumors, that it’s going to happen... Messi to Saudi Arabia and probably to Al Hilal. Messi was officially unveiled as a brand ambassador for the Saudi Tourism Authority last year, and rumors swirled about him playing in Saudi Arabia eventually. Lucien provides a timeline of Messi's experiences and relationship with Saudi Arabia and some thoughts on what this might mean for the Saudi Professional League.

40:10 - Riyadh-based restaurateur Norah Ortiz, who is founder of the popular authentic Mexican restaurant Don Reuben’s, located in the diplomatic quarter. Don Reuben’s is the first authentic taco shop in the Kingdom and recently won the “highly commended” Riyadh Time out awards for best Latin American restaurant in the capital city. Ortiz tells us her story as an American born in San Diego to Mexican parents and her journey to owning and operating the first authentic Mexican restaurant in a city increasingly becoming a hot spot for foodies.

1:08:44 - Yallah!

MENA startups Raised $7 Million in April 2023, a 93 Percent Decline Year-on-Year – WAMDA Report
In April 2023, startups based in the Middle East and North Africa raised roughly $7 million, a drop of 97 per cent compared to March 2023 and a 99 per cent drop compared to April 2022, according to a report in Wamda, which we shared on SUSTG.com today.

Banker Pay Surges For Those Willing to Work in Saudi Arabia
According to Bloomberg, banking jobs remain plentiful and salaries are surging in one unexpected corner of the world: Saudi Arabia.

Aramco In Talks With Sinopec and Total on $10 Billion Saudi Gas Deal
According to Bloomberg, Sinopec and TotalEnergies SE are among companies holding talks to invest in the Jafurah development in Saudi Arabia, according to people familiar with the matter, as the kingdom seeks to exploit one of the world’s largest untapped gas fields.

Saudi economy edging closer to reducing dependence on oil, IMF official says
According to Reuters, Government-led reforms and the growth of private investment in new sectors will help support non-oil economic growth in Saudi Arabia amid an expected sharp slowdown in overall growth this year, a senior IMF official said.

Asset Management Firm Tiger Global, Visa Invest in UAE Fintech Company Tarabut Gateway for Saudi Expansion – Report
Payments giant Visa Inc. has made its first open banking investment in the Middle East, joining Tiger Global Management in backing UAE-based fintech firm Tarabut Gateway’s latest fundraising which outlines an expansion to Saudi Arabia, according to Bloomberg.

Middle East Set to Outpace Other Regions in Growth of Travel Demand: Rategain
The Middle East region is expected to outpace all other travel markets in its rate of recovery for travel demand in the April-June quarter, according to India-headquartered travel technology firm Rategain.

1:08:44 - Yallah!

Banker Pay Surges For Those Willing to Work in Saudi Arabia
According to Bloomberg, banking jobs remain plentiful and salaries are surging in one unexpected corner of the world: Saudi Arabia.

Previous Episode

Knight Frank's Faisal Durrani joins The 966 to talk Saudi real estate, giga-projects and much more

In Episode 84, The 966 speaks with Faisal Durrani, partner and head of Middle East research for the global real estate company Knight Frank. Mr. Durrani shares some of the highlights and key information from Knight Frank’s recently-released 2023 report on real estate in Saudi Arabia, The Saudi Report 2023, a publication which touches on many subjects beyond real estate, including hotels and tourism, travel preferences for Saudis domestically, and so much more. Before the conversation, the hosts discuss the situation in Sudan and Saudi Arabia's role in assisting other nations in getting its civilians out of harms way in the country, how a Saudi company became ensnared in the politics of the Western US water crisis, and much more.

4:01 - Richard's one big thing is Saudi Arabia's assistance in getting civilians out of harms way in the war-torn country. Sudan is just across the Red Sea from Saudi Arabia, and both nations share a long border with that pivotal trade route, raising the stakes for the Kingdom as yet another nation in its neighborhood is threatened with instability. Sudan has a 530-mile (853 km) coastline bordering the Red Sea, and that waterway's maximum width is 190 miles. There are fears that the fighting could further fragment the country, worsen political turbulence and draw in neighboring states. Saudi Arabia received praise from U.S. President Joe Biden for its work and hospitality in rescuing civilians from harm's way.

12:04 - Lucien's one big thing is the water crisis in the American west, and how it has ensnared a Saudi company, Fondomonte, a subsidiary of Almarai, the Kingdom's largest big agricultural company. Saudi Arabia's own water conservation has lead Saudi Arabia to explore farming and agriculture opportunities abroad, both in wheat and other imports from places like Ukraine and in Africa, and in agricultural enterprises abroad, including in the United States. Fondomonte in Arizona farms alfalfa to feed cows for dairy products in the Kingdom. Fondomonte had permitting applications into the state for drilling the wells but those were denied ceremoniously by the state’s attorney general, Kris Mayes, who used the opportunity to make an example of Saudi Arabia’s farms in Arizona and the need for water to be used by locals. The permits were denied after Hays raised objections in early April to state agencies about discrepancies in application paperwork, including listing different landowners and conflicting information about whether the wells were new or replacements,” azcentral.com reports.
Valued at $14.3 billion, the Almarai Company – which owns about 10,000 acres of farmland in Arizona under its subsidiary, Fondomonte – is one of the biggest players in the Middle East’s dairy supply. The company also owns about 3,500 acres in agriculture-heavy Southern California, according to public land records, where they use Colorado River water to irrigate crops.

26:28 - The 966 speaks with Faisal Durrani, partner and head of Middle East research for the global real estate company Knight Frank. Mr. Durrani shares some of the highlights and key information from Knight Frank’s recently-released 2023 report on real estate in Saudi Arabia, The Saudi Report 2023, a publication which touches on many subjects beyond real estate, including hotels and tourism, travel preferences for Saudis domestically, and so much more.

1:12:07 - Yallah! 6 top storylines to get you up to speed on all things Saudi headed into the weekend.

World Military Spending Rises to Record as Insecurity Swells

Defense expenditure increased by 3.7% in real terms to reach a record high of $2.24 trillion in 2022, the Stockholm International Peace Research Institute, SIPRI, said on Monday. About half the annual increase was due to Ukraine’s ballooning military budget, according to data for the eastern European country that excludes foreign aid. Arms budgets are expanding across Europe in response to Russia’s aggression at the same time as tensions in East Asia are prompting larger outlays in that part of the world. In another sign of how the world is sliding back into a situation last seen during the Cold War, military expenditure in central and western European countries exceeded the 1989 level for the first time.

Saudi Arabia Advances 17 Ranks in World Bank's Logistics Performance Index

Saudi A...

Next Episode

Neom's progress and opening date, Syria comes in from the cold, the Rua Al-Madinah giga-project and much more

Episode 86! The hosts fly solo today with lots to discuss from a busy week in Saudi Arabia. Richard's One Big Thing is the recent developments on Saudi-Syria relations. Syria has come in from the cold in recent days as the Arab League and Saudi Arabia in particular prioritize engagement with Assad regime to solve growing regional challenges - a departure from a decade of isolating the country which has descended into becoming a narco state under Assad. Lucien's One Big Thing is NEOM, which in just the last week had a slew of announcements and dropped an opening date for its first destination, Sindalah Island, located off the coast of the futuristic city. Then the hosts jump right into Yallah! to discuss 6 top storylines on Saudi Arabia headed into the weekend.

3:55 - Richard's One Big Thing is the recent developments on Saudi-Syria relations. Syria has come in from the cold in recent days as the Arab League and Saudi Arabia in particular prioritize engagement with Assad regime to solve growing regional challenges - a departure from a decade of isolating the country which has descended into becoming a narco state under Assad.

23:57 - Lucien's One Big Thing is NEOM, which in just the last week had a slew of announcements and dropped an opening date for its first destination, Sindalah Island, located off the coast of the futuristic city.

37:17 - Yallah! 6 top storylines to get you up to speed headed into the weekend.

Saudi Ambassador to Washington, Princess Reema bint Bandar, visited a Boeing facility in Charleston, South Carolina, to celebrate Saudi Arabia’s $37 billion deal struck in March to purchase up to 121 Boeing aircraft.
“This historic investment will create around 100,000 direct & indirect jobs in the US across several states, including hundreds of suppliers and many small businesses.” According to Princess Reema. This is the fifth-largest commercial aircraft deal by value in Boeing’s history.

The Saudi Tourism Authority Says LGBT+ Visitors Are Welcome In Saudi Arabia
In the FAQ section of STA’S website, somebody inquired whether or not LGBT+ visitors were welcome in Saudi Arabia. The response was: “everyone is welcome to visit Saudi Arabia, and visitors are not asked to disclose such personal details.”

Lucid losses put Saudi Arabia's EV strategy in the headlamps
Lucid, a U.S. company in which PIF owns a 60.46% stake, fell well short of analyst forecasts on Tuesday with a sharp first quarter revenue fall and a cut to its 2023 production outlook, according to Reuters.
That performance could put another potential dent in Saudi plans to build its own EV industry, which includes Lucid's first manufacturing plant outside the U.S., as part of its far-reaching diversification plan led by Crown Prince Mohammed bin Salman.

Saudi Arabia is planning to transform Islam's second holiest city of Madinah into a "modern Islamic and cultural destination" according to a report yesterday by Arab News.
The project, which is part of the Kingdom's Vision2030 strategy, will be overseen by Rua Al Madinah Holding Co., a real estate firm owned by the Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF)

World’s first Transformers indoor theme parks to open in Saudi Arabia
Toy giant Hasbro and Saudi Entertainment Ventures are teaming up to launch the world’s first Transformers-themed indoor entertainment centers.

Saudi Arabia and Netherlands agree to collaborate on green energy

Saudi Arabia and the Netherlands on Thursday signed a memorandum of understanding to collaborate on the development of green energy and hydrogen. The Netherlands could be the main destination for the transport of hydrogen derived from renewable energy sources from Saudi Arabia to Europe, Saudi energy minister Prince Abdulaziz bin Salman said at the World Hydrogen Summit in Rotterdam.