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  • ‘Downward Trend’ in Economic Activity Seen in Latest Jadwa Investment Chartbook
     

    Jadwa Investment’s recently released economic chartbook for the month of November found a downward trend in economic activity and the fourth consecutive negative change in government accounts with SAMA. “Economic data for September showed a downward trend in economic activity,” Jadwa said it the report, pointing to negative growth in cash withdrawals from ATMs and […]

     
  • Are oil markets better off with OPEC cuts?
     

    Jadwa Investment’s latest Quarterly Oil Market Update anticipates that OPEC’s decision to announce, but not to implement, a cut in production will likely lead to a small cut in oil production “more akin to a production ’freeze’ rather than an outright cut”. “Any agreement by OPEC, if reached, will of course need to be acted […]

     
  • Saudi Arabia’s PIF, Japan’s Softbank Team Up to Create a Tech Investing Behemoth
     

    Saudi Arabia and Japan’s SoftBank Group will create a technology investment fund that could grow as large as $100 billion, making it one of the world’s largest private equity investors. Softbank is creating a new global tech investment fund, seeded with $25 billion of its own money. The fund, which will be London, UK based […]

     
  • Yemen’s Houthis Fire Another Missile into Saudi Arabia as Kingdom, Iran Spar at UN over War
     

    Saudi Arabia says it has shot down a ballistic missile fired into the Kingdom by Houthi rebels and their Iranian allies in the latest incident in Yemen’s civil war that has raged for nearly 19 months. The missile targeted the southwestern city of Khamis Mushait and was destroyed Tuesday night without causing any injuries, the Saudi Press […]

     
  • Saudi Arabia Switches to Gregorian Calendar
     

    Saudi Arabia has shifted to the Gregorian or “Western” calendar as a basis for paying civil servants as part of broader fiscal changes, according to reports. The kingdom adopted the lunar Islamic calendar when it was founded in 1932, but the change places its payment schedule in line with the West. It also brings civil […]

     
  • Saudi Arabia’s Foreign Ministry Criticizes JASTA, Congress Weighs Adjustment of Law
     

    Although the Congressional override of President Obama’s veto on the controversial Justice Against Sponsors of Terrorism Act (JASTA) was anticipated, it’s reality has proved shocking to U.S. leaders as well as countries globally.  Saudi Arabia’s foreign ministry has issued a statement strongly condemning the legislation and noted, as has been done frequently in the run-up […]

     
  • Jadwa Investment Report Looks at ‘Significant Implications of Vision 2030 on Trade and Financial Flows’ for Saudi Arabia
     

    A recently released Jadwa Investment report researches the impact that Vision 2030 is likely to have on international trade and investment flows with Saudi Arabia. This report looks at the evolution of the current account for the period 2016-30, which is forecast to reach a surplus of $135 billion (8 percent of GDP) by 2030. “While oil export […]

     
  • Deputy Crown Prince Mohammed bin Salman Cracks Bloomberg’s 50 Most Influential in Finance
     

    Saudi Deputy Crown Prince Mohammed bin Salman has been ranked 42nd Bloomberg’s list of the 50 Most Influential People in the world of finance. Bloomberg said that the 31-year old prince has drawn up a plan to transform the world’s biggest crude exporter into a diversified economy fit for the next era, almost eight decades after […]

     
  • New Desalination Technology at KACST in Saudi Arabia ‘Opens Doors to Higher Worldwide Clean Water Sources’
     

    The first worldwide adsorption water desalination and cooling plant has been successfully implemented by King Abdulaziz City of Science and Technology (KACST) in August 2016, the university said in a press release, as the Kingdom continues to be a global leader in desalination technology. Adsorption Desalination and Cooling (ADC) is a newly invented technology, co-owned […]

     
  • President Obama to Veto JASTA Bill
     

    White House Press Secretary Josh Earnest said on Monday that U.S. President Barack Obama will veto the controversial Justice Against Sponsors of Terrorism Act (JASTA) passed by congress last week, setting up a showdown with Congress. Earnest reiterated the White House’s fear that the measure would expose U.S. citizens to legal action overseas if foreign countries pass […]

     

MUST-READS

  • Saudi Arabia Foreign Minister Demands Palestinian State

    Saudi Arabia’s foreign minister says the kingdom will not normalize relations with Israel or contribute to Gaza’s reconstruction without a credible pathway to a Palestinian state. Prince Faisal bin Farhan’s remarks in an interview with CNN broadcast late Sunday were some of the most direct yet from Saudi officials. It puts them at odds with Israeli Prime Minister Benjamin Netanyahu, who has rejected Palestinian statehood and described plans for open-ended military control over Gaza.

  • Saudi’s SABIC gives go-ahead for $6.4 bln China petrochemical plant

    Saudi Basic Industries Corp (SABIC) (2010.SE), opens new tab will go ahead with building a petrochemical complex in southeastern China's Fujian province, the company said in an exchange filing on Sunday, shoring up Saudi ties with China, the world's top oil importer. The project, expected to cost around $6.4 billion, will be developed in a joint venture with state-owned Fujian Fuhua Gulei Petrochemical. First proposed in 2018, the joint venture marks the latest in a series of tie-ups between Saudi firms and Chinese refiners.

  • New Ajax midfielder Henderson apologises again to anyone offended by Saudi move

     Jordan Henderson, who joined Ajax Amsterdam on Thursday, has apologised again to anyone he might have offended six months after the England midfielder was the target of scathing criticism for his move to Saudi Arabian club Al-Ettifaq.
    The 33-year-old met with media a day after he signed with the Dutch side having terminated his contract with Saudi Pro League club Al-Ettifaq after six months.
    Henderson's switch to Saudi Arabia -- where homosexuality is illegal -- after 12 years at Liverpool was widely criticised as he has long been a supporter of the LGBTQ+ community.

  • A Desperate Netanyahu Formally Rejects Any Palestinian Statehood Ever

    On Thursday, January 18, Israeli Prime Minister Benjamin Netanyahu formally declared his long-held but never publicly articulated policy of opposing a two-state solution to the Israeli-Palestinian crisis. “In any future arrangement … Israel needs security control of all territory west of Jordan. This clashes with the idea of (Palestinian) sovereignty. What can you do?” Netanyahu told a news conference in Tel Aviv. This is a complete rejection of a Palestinian state and another rejection of U.S. policy goals.

  • Palestinian state the only solution to Middle East unrest, says Saudi ambassador to US

    Speaking at the World Economic Forum in Davos during a Saudi-focused panel discussion, Princess Reema bint Bandar said the Kingdom fully recognized Israel’s need and desire for security following the Oct. 7 attacks by Hamas militants. However, that security would not come “at the expense” of the safety of the Palestinian people, and there is a need for an immediate ceasefire, she added. “How many more children need to die? How many more limbs need to be lost? How many more parents need to lose their livelihoods? It cannot happen anymore; the Kingdom has condemned violence on both sides,” she said.

  • Ministry launches health clusters across Saudi Arabia, completes first phase of transition

    Each cluster will include primary care centers, public hospitals, and specialized services within its scope, offering beneficiaries integrated administrative organization to ensure service flexibility, promptness, and satisfaction. The clusters will also be responsible for the health of the population in their area through continuous monitoring, such as conducting early periodic examinations for all and collaborating with other entities to create a healthier community environment.

  • Saudi event to feature 20-point golden ball with 167 break possible

    The World Snooker Tour has announced a first TV event in Saudi Arabia, where there will be an extra 20-point golden ball for players who complete a 147.

    Seven-time world champion Ronnie O'Sullivan, 2019 winner Judd Trump and current holder Luca Brecel will play in the event from 4-6 March.

    The other seven players and schedule will be confirmed in the coming weeks.

    Games will follow current rules but with a 23rd "Riyadh Season ball" pottable on completing a maximum break.

  • Saudi Arabia to host World Economic Forum meeting in April

    Saudi Arabia will host a special World Economic Forum (WEF) meeting in April, economy minister Faisal Alibrahim said on Thursday, as it aims to boost the global profile of the kingdom and its capital Riyadh.
    The meeting, scheduled to take place from April 28-29, will focus on global collaboration, growth and energy, Alibrahim said in Davos, Switzerland, where the World Economic Forum's main annual event is currently taking place.

  • Saudi foreign minister calls for ‘credible and irreversible path to a Palestinian state’

    Speaking to NBC News’ Keir Simmons at the World Economic Forum in Davos, Saudi Foreign Minister Faisal bin Farhan Al-Saud laid out the conditions necessary for Saudi Arabia to move towards normalizing relations with Israel.

  • Saudi, Iranian foreign ministers discuss Israeli war on Gaza

    Saudi Arabia and Iran held talks on Thursday on the ongoing Israeli war in the Gaza Strip, which left nearly 24,500 people dead. Saudi state news agency SPA said Foreign Minister Prince Faisal bin Farhan discussed with his Iranian counterpart Hossein Amir-Abdollahian bilateral relations and a host of issues of mutual concern. The discussions dwelt on the current developments in the Gaza Strip “and the need from the international community to shoulder its responsibility towards achieving an immediate cease-fire and protecting civilians," SPA said.