Saudi Arabia's Lifting Women Driver Ban Is an Economic Play
*By Jacqueline Corba*
For the first time in nearly three decades, women are allowed to get behind the wheel of a car in Saudi Arabia.
And while the change that went into effect Sunday may be a step forward for women's rights in the kingdom, it is also an economic move.
"The driving ban being lifted has been one in a set of limited economic and social reforms aimed specifically at making women good workers and good consumers," Human Rights Watch Acting Saudi Researcher Hiba Zayadin told Cheddar Monday. "With the drop in oil prices Saudi's strategy now is to shift the economy away from an over-dependence on oil."
And to do that, it means getting women to work.
Saudi Arabia's workforce is currently only [22 percent female](https://www.ft.com/content/c55d6cf4-8cd3-11e7-9084-d0c17942ba93), though women account for about 45 percent of the total population. PwC estimates that the number of female drivers will [reach 3 million within two years](https://www.pwc.com/m1/en/publications/women-driving-the-transformation-of-the-ksa-automotive-market.html), and if those women are better able to look for employment, that's going to have an impact. In fact, allowing women to drive will add $90 billion to Saudi Arabia's economy by 2030, according to [Bloomberg Economics](https://www.bloomberg.com/news/articles/2018-06-24/saudi-women-driving-is-seen-better-for-economy-than-aramco-ipo).
But getting everybody on board may not be so easy. The move, spearheaded by Saudi Arabia Crown Prince Mohammed bin Salman, [has some afraid of backlash](https://www.wsj.com/search/term.html?KEYWORDS=saudi%20arabia&page=2) from men reluctant to adopt more western norms. And many who champion equality reportedly remain detained for taking such a stance.
"The women's rights activists currently behind bars should be out there celebrating as well," said Zayadin. "What you are seeing on the news is women smiling with drivers licenses, but at the same time people are afraid to show solidarity for the women behind bars."
For the full segment, [click here.](https://cheddar.com/videos/saudi-arabia-lifts-womens-driving-ban)
The PGA has suspended 17 golfers, including Phil Mickelson and Dustin Johnson, who are competing in a Saudi-backed golf event outside of London. In a memo, commissioner Jay Monahan said "these players have made their choice for their own financial-based reasons", announcing they are ineligible to participate on the PGA tour or any other tours it sanctions. Hugh Kellenberger, Senior Managing Editor at the Athletic, breaks down the controversy, and what might happen next.
U.S. stocks closed Friday at session lows after May CPI data showed inflation in the U.S. has not peaked and is still rising rapidly. For the week, the S&P fell 5.06%, the Dow lost 4.58%, and the Nasdaq dropped 5.60%, marking the worst week since January for all three major indexes. Mike Zigmont, Head of Trading and Research at Harvest Volatility Management, joins Cheddar News' Closing Bell to discuss.
Benefits brokerage, Nava Benefits, raised $40 million in a Series B round. Nava says it's on a mission to fix healthcare, one benefits plan at a time. The startup is working to bring benefits to small business that are normally available to only Fortune 500 companies. Brandon Weber, Co-Founder and CEO of Nava Benefits, joined Cheddar News' Closing Bell to discuss.
The House Select Committee investigating the Jan. 6 riots on Capitol Hill held its first primetime hearing on Thursday. Cheddar News speaks with legal analyst Tracy Pearson, who breaks down the biggest takeaways.
Fuel and oil prices have risen almost 17 percent since May, making the national gas prices reach nearly $5 a gallon. Andrew Lipow from consulting firm Lipow Oil Associates joined Cheddar News to discuss the future of gas prices. "The biggest issue on the oil market is really events that are beyond our control, which is what is happening over in Europe," he said, regarding the ongoing Russia Ukraine war. Lipow also said he predicted gas prices to hit $5.05 and that he's focused on the Biden administration's overtures in repairing a relationship with Saudi Arabia.
March For Our Lives will be returning this weekend to Washington, DC, in the wake of the recent mass shooting seen throughout the country. Marchers include Yolanda Renee King, the only granddaughter of Martin Luther King Jr. She joined Cheddar News to discuss the importance of the march and activism in general. "I just think that it's so important to have these rallies because we need to demand to our leaders and politicians that they pass legislation and that and we actually need to see action," she said.
Erika Alexander and Whitney Dow, directors of 'The Big Payback,' join Cheddar News to discuss their new film, 'The Big Payback.' It premieres Saturday, June 11 at the Tribeca Festival.
President Biden proposed a new rule that would add 500,000 chargers for electric vehicles nationwide. The proposal comes amid the rapid shift to EVs with dozens of automakers announcing plans for all-electric fleets within the next decade. But with the new surge will the U.S. have the proper infrastructure to keep up? Scott Painter, founder and CEO of Autonomy.com joined Cheddar's Opening Bell to discuss. "I really think the idea of standardization is a big deal. Standardization certainly makes it much better for everybody to be able to get a charge when they need one," he said.
The House select committee investigating the January 6th riots on Capitol Hill is opening its landmark series of public hearings. Cheddar News speaks with Mike Sozan, senior fellow at the Center for American Progress who explains how to follow the hearings and what to expect.
