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  • In Egypt, Saudi Arabia’s King Salman Reaffirms Commitment to Bi-Lateral Ties
     

    In what is being hailed as a landmark visit, Saudi Arabia’s King Salman arrived in Egypt to re-affirm Saudi-Egyptian ties and engage a critical regional ally on key foreign policy concerns. King Salman, who was also accompanied by Deputy Crown Prince Mohammed bin Salman and dozens of Saudi officials and leaders, including 14 ministers, was received […]

     
  • Crown Prince Mohammed bin Naif Joins Twitter
     

    Following the lead of King Salman and other top Saudi government officials, Saudi Arabia’s Crown Prince has joined the social microblogging website Twitter using the handle @M_Naif_Alsaud.  The Crown Prince chairs the Council of Political and Security Affairs (CPSA) and is Minister of Interior of Saudi Arabia. His first tweet, sent on April 5, 2016 […]

     
  • Saudi Arabia was world’s third largest military spender in 2015, surpassing Russia
     

    Saudi Arabia surpassed Russia in military spending for 2015 to be the world’s third largest spender on defense, according to a new report by the Stockholm International Peace Research Institute (SIPRI). The United States retained its top position globally in total military spending in 2015, accounting for almost one-third of all military spending globally. The […]

     
  • Saudi Arabia taking ‘unprecedented hands-on role in housing finance and development’
     

    Saudi Arabia’s housing minister Majed al-Hogail gave an interview with Bloomberg last week in which he discussed the government’s plans to create its own development company and start a mortgage-guarantee fund to encourage banks to increase lending for Saudis. “‘We are looking to improve the productivity of the local developers’ but also trying to attract international […]

     
  • Throwback: Photos of King Salman at King Saud University, 40 Years On
     

    Recently released photos by the Saudi Press Agency (SPA) show King Salman at the King Saud University roughly 40 years ago, as the then-prince assisted in shaping the Riyadh-based University to be what it is today. King Saud University (KSU) is billed as “the premier institution of higher education in the Kingdom of Saudi Arabia. Prince […]

     
  • New Homeland Security Decision Allows Saudi Students to Stay in U.S. for 3 Years By Getting On the Job Training
     

    The United States Department of Homeland Security (DHS) recently published a new rule allowing F1 students the opportunity to stay in the country longer “by getting training on the job at some companies for a period of 36 months,” according to a report in Arab News and information posted to the DHS website. According to DHS, […]

     
  • What Will Be Saudi Arabia’s Next Tourist Destination?
     

    Saudi Arabia’s King Abdullah Economic City (KAEC) attracted more than 100,000 visitors last year, a sign that the planned mega city about 100 miles north of Jeddah on the Red Sea might become Saudi Arabia’s next domestic tourist destination. Although Saudi citizens typically flock to Dubai, Bahrain, or elsewhere abroad for leisure trips, that might […]

     
  • In Bid to Boost Transparency, Saudi Regulators Require International Banks to Disclose Financial Statements
     

    Saudi Arabia’s Capital Markets Authority (CMA) is instructing international banks to publicly disclose financial statements for the first time as the kingdom seeks to boost transparency, according to a report in Bloomberg. The Bloomberg report says that companies under the regulation of the CMA in Saudi Arabia must publish the financial information on their websites […]

     
  • Surge in Flights from Saudi Airports as Kingdom’s Aviation Sector Booms
     

    Saudi Arabia’s airports have seen a “substantial growth in international traffic” as the number of international flight services from the Kingdom’s airport surges 50% since last year. The number of international flight services from the domestic airports jumped by 51.5 percent to 26,361 at the end of 2015 from 17,405 in 2014, according to a […]

     
  • Construction Payment Delays Draw International Attention, Report Says
     

    Foreign governments are pressing both government authorities and company executives in Saudi Arabia “to ensure that local construction firms make delayed salary payments to thousands of workers, a sign of pressure on the kingdom’s economy due to low oil prices,” according to a Reuters report. Construction firms in Saudi Arabia are have been squeezed as […]

     

MUST-READS

  • Saudi Arabia’s crude exports rise to four-month high in October

    Saudi Arabia's crude oil exports in October hit their highest level in four months, data from the Joint Organizations Data Initiative (JODI) showed on Monday. Crude exports from the world's largest oil exporter rose 9.6% rose to 6.30 million barrels per day (bpd) from September, while the country's crude oil production, decreased 0.4% to 8.94 million bpd. In November, OPEC+ oil producers agreed to voluntary output cuts totaling about 2.2 million barrels per day (bpd) for early next year led by Saudi Arabia rolling over its current voluntary cut.

  • Secretary Blinken’s Call with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud

    Secretary of State Antony J. Blinken spoke today with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud.  The Secretary stressed the importance of urgently addressing humanitarian needs in Gaza and preventing the further spread of the conflict.  Secretary Blinken underscored the U.S. commitment to the establishment of an independent Palestinian state.  The Secretary also condemned continued attacks by the Houthis on commercial vessels operating in international waters in the southern Red Sea and urged cooperation among all partners to uphold maritime security.  The Secretary and the Foreign Minister affirmed their countries’ shared commitment, in coordination with international and regional partners, to end the devastating conflict in Yemen.

  • Saudi art blooms with the kingdom’s transformation

    “Venice is very important for any artist in their career,” AlDowayan says. “But it’s about bringing our Saudi art. The cultural scene in this country is very strong, it always was, but it wasn’t seen. There is a transformation taking place.”

  • Saudi PE Firm Jadwa Eyes $530 Million Fund for Mideast Deals

    Saudi private equity firm Jadwa Investment Co. is planning to raise as much as 2 billion riyals ($530 million) for a new fund to boost dealmaking in fast-growing oil exporting countries in the Middle East.

    The firm is raising its first blind pool fund with a view to taking significant minority stakes in as many as 12 companies over the next three years, Jadwa said in a statement to Bloomberg. It will target investments in Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, Bahrain and Oman, an economic bloc known as the Gulf Cooperation Council, of GCC.

  • GOP senator: Israel must accept two-state solution to normalize ties with Saudis

    Arab countries will not agree to normalize ties with Israel unless Jerusalem agrees to a two-state solution, Republican US Senator Lindsey Graham of South Carolina said Sunday.

  • Morgan Stanley Looks to Offload $350 Million Loan to Saudi Wealth Fund

    The Wall Street bank is sounding out interest among potential buyers for the debt issued to the Public Investment Fund, according to a note detailing various loan sales seen by Bloomberg News. It’s not disclosed what price it would be willing to accept or the reason for the sale. Morgan Stanley has been shedding some of its corporate loan exposures recently, mirroring a trend among banks for paring capital-intensive assets as interest rates rise.

  • Saudi Arabia to invest $12bln in steel projects

    Saudi Arabia is investing nearly $12 billion in steel projects to boost its production of the metal to face a large increase in domestic demand, a senior official has said. Demand for steel, a pillar of construction activity, is already strong due to massive projects under way as part of the Gulf Kingdom’s Vision 2030 economic diversification scheme, said Khalid Al-Mudaifer, Deputy Industry and Mineral Resources Minister.

  • Moody’s sees Saudi non-oil GDP to grow by 3-4% annually until 2030

    Moody’s Analytics expects Saudi Arabia’s non-oil GDP to grow between 3% and 4% annually until 2030.  Speaking at a webinar on the economic prospects for the Middle East and North Africa in 2024, Catarina Noro, an economist at Moody’s, said the oil sector is expected to grow between 0.5% and 1.5% after 2025.

  • Saudi, Korean industry ministers sign MoU to expand industrial cooperation

    Saudi Arabia marked a milestone in its ongoing bilateral trade discussions with South Korea as the Kingdom’s industry minister met with his Korean counterpart in Seoul. Saudi Industry and Mineral Resources Minister Bandar Alkhorayef met Korean Trade, Industry and Energy Minister Lee Chang-yang on Dec. 16 to discuss opportunities to enhance industrial cooperation between the two nations. During the meeting, the ministers signed a memorandum of understanding between the Saudi Authority for Industrial Cities and Technology Zones, also known as MODON, and the Korean GL Rapha Holding Co. with an investment value of SR750 million ($199.93 million), the Saudi Press Agency reported.

  • Saudi crown prince offers his condolences after passing of Kuwait’s late emir

    Saudi Arabia’s crown prince offered his condolences to the new emir of Kuwait on Sunday after the passing of his predecessor Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah. Crown Prince Mohammed bin Salman traveled to Kuwait on the directives of King Salman and was received by Sheikh Meshal Al-Ahmad Al-Sabah, Saudi Press Agency reported. Sheikh Meshal thanked the crown prince for his condolences.