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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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Hajj 2016 Begins: Millions Gather in Saudi Arabia
An estimated two million pilgrims have converged in Saudi Arabia for the start of the annual Hajj pilgrimage today, lasting until Wednesday, September 13th. The hajj is one of the five pillars of Islam, which capable Muslims must perform at least once, marking the spiritual peak of their lives. Worshippers from more than 150 countries will embark on […]
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U.S. House to Allow Vote on Controversial JASTA Bill This Week
The U.S. House of Representatives will vote this week on a bill allowing the families of 9/11 victims to sue Saudi Arabia in U.S. courts, a Republican leadership source told Politico Wednesday. The highly-politicized Justice Against Sponsors of Terrorism Act (JASTA) bill, which President Obama said would receive his veto should it make it to […]
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Report: $20 Billion in Projects may be Canceled; Ministerial Budgets Squeezed as Saudis Adapt to Low Oil Prices
A report in Bloomberg today said that Saudi Arabia is considering canceling more than $20 billion of projects in addition to making deep cuts to ministry budgets as the Kingdom takes austerity measures due to low oil prices. The budget cuts to some ministries could be as much as 25%, the Bloomberg report said. Overall, the government is […]
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MUST-READS
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Vision 2030: The Lynchpin Of Saudi Arabia’s Unprecedented Economic Transformation
Although not formally part of Vision 2030, PIF’s globally renowned giga-projects have become closely associated with the programme. Some projects have commenced construction, including the Red Sea global tourism, the Qiddiya entertainment city and the Diriyah Gate heritage development initiatives. But the Kingdom’s most hotly discussed sustainability-based giga-project, Neom, has garnered the most global attention based on its unique design and sheer magnitude, alongside the distinctly light environmental footprint it seeks to cultivate with a new model of sustainable living.
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LinkedIn research reveals UAE and Saudi Arabian job trends
This inclination aligns with the UAE’s resilience in international hiring, showcasing a 0.3 per cent annual increase, which is a remarkable 30 per cent higher than the pre-pandemic levels of December 2019. As the new year begins, 62 per cent of professionals are actively seeking or planning to start looking for new job opportunities. Better salaries (42 per cent) and the desire for an improved work-life balance (33 per cent) stand out as the top two reasons motivating professionals to consider a career move.
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Professional Fighters League takes first step into pay-per-view with Saudi Arabia card
The PFL is headed to pay-per-view, with the MMA promotion running a Super Fight event Feb. 24 in Riyadh, Saudi Arabia . The Professional Fighters League first PPV will also showcase talent from the Bellator promotion, recently purchased by PFL and placed under its umbrella. The deal was aided in part by Saudi Arabia’s recent purchase into PFL. The purchase was relatively modest — $100 million according to the Financial Times — but even in a minority role, Saudi-backed SRJ Sports Investments ensured mixed-martial arts events will take place in that country.
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Saudis could recognise Israel if Palestinian issue resolved – foreign minister
Saudi Arabia's foreign minister said on Tuesday the kingdom could recognise Israel if a comprehensive agreement were reached that included statehood for the Palestinians, ambitious talk as the war between Israel and Hamas shows no sign of easing."We agree that regional peace includes peace for Israel, but that could only happen through peace for the Palestinians through a Palestinian state," Prince Faisal bin Farhan told a panel at the World Economic Forum in Davos.
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Saudi Arabia claim another epic win in Qatar — this time even crazier than their upset over Argentina
Over a year after their stunning upset of Argentina at the 2022 FIFA World Cup, Saudi Arabia have returned to Qatar and pulled off another stunning come-from-behind 2-1 win in a tournament opener at the AFC Asian Cup. Only this time it was an even crazier result, if that was even possible.
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Aramco Digital and Intel to create Saudi Arabia’s first Open RAN development centre
Once built, the facility is expected to drive innovation, foster technological advancements and contribute to the digital transformation landscape in the country. Specifically, the partnership aims to accelerate the development and deployment of Open RAN technologies, helping to enable Saudi Arabia to build reliable and agile telecoms infrastructure that will accelerate digitisation across various industries.
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Saudi Arabia has not yet joined BRICs – minister
Saudi Arabia has not yet officially joined the BRICs bloc of developing countries, the kingdom's minister of commerce said in a panel at the World Economic Forum in Davos on Tuesday. "Saudi Arabia has been invited to attend BRICs, we have not yet officially joined BRICs," Majid Al-Kasabi said in a first comment from Saudi officials after the proposed joining date of Jan. 1 passed. The comment also clarified the kingdom's position after Saudi state TV reported earlier this month that the kingdom had joined the bloc, only to remove the reports from its social media accounts later.
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Saudi Chemicals Giant Sabic Hires Aramco IPO Banker Mirza
Sabic hired Sulaiman Mirza as a senior adviser, according to his LinkedIn profile, an indication the Saudi chemicals producer may be eyeing more deals.
Saudi Basic Industries Corp., as the company is formally known, is a key part of the country’s strategy to funnel more oil into chemicals as it prepares for a future beyond crude sales. Sabic took part in one of the Middle East’s largest deals last year, divesting its Hadeed metals unit to focus on its core business.
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Royal Road JV wins bid for Saudi exploration licence
The JV was established on a 50/50 basis with Saudi investment holding company MSB for the purpose of copper and gold exploration in the kingdom. Royal Road is operator of the JV, which has submitted exploration licence applications over certain areas of interest.
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Solar PPAs viable in Saudi Arabia at prices above $26.10/MWh
Researchers at King Abdulaziz University have conducted a techno-economic analysis for utility-scale wind and solar plants in Saudi Arabia and have found that current tariffs make projects economically unviable. The scientists conducted their analysis with the System Advisor Model (SAM), which is a performance and financial model designed to estimate the cost of energy for grid-connected power projects. They also used a Support Vector Machine (SVM) algorithm based on machine learning to assess global horizontal irradiation (GHI), wind speed, as well as other weather parameters at different locations throughout the country.
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