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Report: $7.9 Billion Bid for KAFD by Saudi Arabia’s Public Investment Fund
Saudi Arabia’s Public Investment Fund (PIF) is reported to be prepared to make an offer for the King Abdullah Financial District (KAFD), situated between downtown Riyadh and the city’s King Khalid International Airport. The offer, reported by Bloomberg citing unnamed sources, is 30 billion riyals ($7.9 billion) — the amount already spent on KAFD by the Saudi Public […]
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Jadwa Investment: Recent Saudi Stock Market Changes ‘Pave the Way’ for Saudi Arabia’s Inclusion Into MSCI Emerging Market Index
The major announcements for Saudi Arabia’s economy and society in the last few weeks related to the release of its ‘Vision 2030’ strategy have given the Kingdom a roadmap and targeted benchmarks for achieving greater economic diversification and empowering Saudi Arabia’s youth. In addition to the ‘Vision 2030’ release and cabinet changes there was “an […]
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Report: Donald Trump Set Up Four Businesses Related to a Jeddah, Saudi Arabia Hotel Project While Campaigning for President in August 2015
Republican frontrunner Donald Trump set up four companies related to a possible hotel project in Jeddah, Saudi Arabia while campaigning for president in August 2015, according to a report by BuzzFeed news, citing the candidate’s latest financial disclosure filings released on Wednesday. According to the report, on August 21, 2015, Trump became president and owner of […]
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Secretary Kerry Meets with Saudi Leaders in Jeddah Ahead of Crucial Syria Talks
Secretary of State John Kerry travelled to Jeddah, Saudi Arabia to meet with Saudi Arabia’s King Salman and other Saudi officials ahead of critical talks on Syria, according to reports. The Secretary, who also met with Crown Prince Mohammed bin Naif and Foreign Minister Adel Al-Jubeir, “discussed a range of regional issues – Yemen, Libya, […]
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Difficult Times for the Saudi Binladin Group
The Saudi Binladin Group (SBG) is facing its toughest challenges in the construction giant’s 85 years of operation as tightened government spending and a 8-month restriction on new projects in the pipeline has undermined the company’s finances. Saudi Binladen has announced a reduction in jobs totaling 77,000, or about one-third of its total workforce. “The […]
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The 5 Major Changes Saudi Arabia’s Capital Markets Authority Made to Increase Foreign Investment in the Saudi Stock Market
Saudi Arabia’s Capital Markets Authority (CMA) has significantly lowered the barriers to entering the Saudi stock market as a foreign investor and increased the amount which a foreigner may own of a Saudi company, the bourse announced in a release today. “These rules were implemented with the aim of raising the bar in relation to investing […]
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Commentary: Saudi Arabia’s Vision 2030, Don’t Miss the Point
While Saudi Arabia’s Vision 2030 was formally endorsed by the Saudi Council of Ministers and published on April 25, 2016, anticipation about the plan had been building for months. McKinsey & Company’s 165-page Moving Saudi Arabia’s Economy Beyond Oil in December 2015 confirmed the depth of the analysis underway within the Saudi government while Deputy […]
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Deputy Crown Prince Mohammed bin Salman Opens Up on Personal History; ‘Vision for the Kingdom of Saudi Arabia’
In his second exclusive and wide-ranging interview with Bloomberg, Saudi Arabia’s deputy crown prince, chair of the Council of Economic and Development Affairs (CEDA), and minister of defense opened up on his rise to power, his initial struggles and ultimate acceptance under the late King Abdullah, and his fondness for Winston Churchill and Sun Tzu’s The […]
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As President Obama Heads to Saudi Arabia, Economic Cooperation and Enhanced Bi-Lateral Security Will be on Agenda
As President Obama heads to Saudi Arabia next week to meet with HRH King Salman and attend a GCC summit, familiar topics as well as new issues will be on the agenda for the President’s 3rd official visit to Saudi Arabia and second meeting with King Salman since September. Along with long-standing regional and security concerns that require U.S.-Saudi […]
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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 […]
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Israel’s War in Gaza Enters Its Most Perilous Phase Yet
The Israeli military largely controls the north of Gaza after heavy bombardment reduced much of its urban areas to rubble, along with many tunnels. Hamas’s battalions there were smashed, although pockets of resistance continue. Many thousands of civilians were killed too. Most of the population fled south.
But Israel’s progress in the south is facing a logjam. Its forces are closing in on a swollen population of displaced Palestinians who are running out of places to flee. An international outcry is mounting over the heavy toll of civilian deaths and injuries, raising pressure on Israel to change its tactics.
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Washington Struggles To Stem The Slide Toward Regional War
Secretary Blinken’s January itinerary did not include Lebanon, but another envoy, Amos Hochstein, has been tasked to try to de-escalate the skirmishing between Israel and Lebanese Hezbollah that began after the Hamas attack on Israel. Of members of Iran’s axis of resistance, Hezbollah is probably the most capable of causing widespread destruction inside Israel and drawing in its sponsor, Iran, into a region-wide war. Hochstein has sought to enlist Lebanese leaders – many of whom resent Hezbollah’s wielding of a large, Iran-supplied armed force outside the chain of command – to persuade Hezbollah not to draw Lebanon into a war with Israel.
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Iran’s Revolutionary Guard deployed in Yemen
The IRGC has stationed missile and drone trainers and operators in Yemen, as well as personnel providing tactical intelligence support to the Houthis, U.S. and Middle East officials told Semafor. The IRGC, through its overseas Qods Force, has also overseen the transfer to the Houthis of the attack drones, cruise missiles, and medium-range ballistic missiles used in a string of strikes on Red Sea and Israeli targets in recent weeks, these officials said.
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How Saudi Arabia is unlocking the power of the blue economy
Many of these huge projects focus on core fundamentals of the blue economy, namely regenerative tourism and maritime logistics. Amaala, which is part of Red Sea Global, and Sindalah which is part of NEOM, represent the largest regenerative tourism investments in the world and have the ambitious aim to go beyond environmental protection to enhance their natural assets. The scale of these ambitions requires massive investments in renewable energy, sustainable materials, innovative design, and ecosystem restoration.
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How Saudi Arabia is unlocking the power of the blue economy
Saudi’s coastline is the eighth largest community of coral reefs in the world, covering around 6,600 square kilometres, as well as 204 square kilometers of mangrove forests, and hundreds of kilometres of seagrass meadows. It is also home to more than 20 newly-discovered “blue holes” in the Red Sea.
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Saudi Arabia to boost petrochemical industry with Basell deal
A strategic partnership agreement was signed on Tuesday between Saudi Arabia’s petrochemical manufacturing company Alujain Corporation and Basell International Holdings, a subsidiary of LyondellBasell Industries, at the Ministry of Energy headquarters in Riyadh on Tuesday. The agreement, inked in the presence of Energy Minister Prince Abdulaziz bin Salman, outlines Basell’s acquisition of a 35 percent stake in the National Petrochemical Industrial Co. — still being developed by Alujain Corporation. And NATPET is working to build a petrochemical complex at a cost of around SR7.5 billion ($1.99 billion), the ministry said.
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The speed of Jordan Henderson’s disillusionment reflects how great his regret must be
Saudi Arabia had a proud history as a football nation long before its modern-day rulers began to harness the sport’s potential as part of a national and wider global strategy, but there is a difference between Fabinho playing for Al Ittihad, who attracted an average crowd of 40,453 en route to the league title last season, and Henderson playing in front of sparse crowds for Al Ettifaq.
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Saudi Arabia very concerned about climate change and eager to set global standards, says envoy
“We are a responsible actor in the global community and we don’t want to follow the standards, we want to set the standards for how countries should conduct themselves and what responsibilities they take on and what objectives they set, and what programs and initiatives they put in place domestically, regionally and internationally to help meet the challenge of climate change,” Adel Al-Jubeir said at the World Economic Forum in Davos.
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Saudi Arabia’s Dammam Airport Handles Record 10.9 Million Passengers In 2023
Dammam’s King Fahd International Airport (DMM) reported a record 16.2% annual increase in passenger traffic in 2023 to 10.9 million passengers, the highest since the airport’s inception. The recent surge in traffic aligns with the Saudi National Aviation Strategy’s objectives to achieve 330 million passengers and 4.5 million tonnes of cargo by 2030.
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Saudi media company launches new podcast app
Saudi-based media company Thmanyah has announced the launch of a new Arabic podcast app, Radio Thmanyah. The Radio Thmanyah application is dedicated to listening to Arabic and international podcast programmes. It will also allow creators to host their podcast show, promote it to their podcast listeners, and access monetisation opportunities. The application also introduces profiles for creators and social interactions with the content. Through the app users will be able to import their podcast libraries from existing platforms or search the catalogue for international and regional podcasts. The app will feature content from podcast shows like Funjan, Socrates, and Swalif Business, along with newsletters, and documentaries.
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