Unemployment in Saudi Arabia declined in the 3q 2019 and is likely to continue to improve as a pick-up in the non-oil private sector growth should translate to more jobs, according to a recent report from Jadwa Investment.
Jadwa Investment has revised downward its forecast for economic growth in Saudi Arabia this year from 1.6% to 0.2% based on recent data, but 2020 may see strong growth.
Saudi Arabia’s King Salman said in his annual address to the Shoura Council on Wednesday that the ability of Saudi Aramco to quickly restore oil production capacity after attacks on its facilities in September "had proven the kingdom’s ability to meet global demand during any shortage."
Saudi Arabia’s Public Investment Fund has invested $400 million into Uber founder Travis Kalanick’s new company CloudKitchens, according to the Wall Street Journal.
Secretary of Defense Mark Esper arrived Monday in Saudi Arabia for an unannounced visit as the U.S. and Saudi Arabia seek to bolster their joint defense in the face of rising regional tensions.
France and Saudi Arabia have announced a "major partnership" to develop the area of Al-Ula, a historic site in the Kingdom that is part of its push to bring in tourists and open the Kingdom up to investment.
