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A Look at Saudi Arabia’s 2020 Budget
This week, Saudi Arabia unveiled its 2020 budget, which signals an end to the expansionary trend of recent years, assumes lower oil prices than in 2019, and continues to invest in the economic diversification as outlined in the Kingdom’s Vision 2030 economic and social reform plans.
Saudi Aramco Soars 10% in Debut in ‘Vindication’ for Company
Saudi Aramco’s shares rose SAR 3.20, or 10% (the daily limit) to 35.2 riyals in Riyadh, raising the company’s valuation to $1.88T. The debut, by any measure, is a success, and officially makes Saudi Aramco the world’s most valuable company.
Arab Youth are Concerned about Unemployment, Poll Finds
A recent Arab News — Arab Strategy Forum research study conducted by YouGov found that 55 percent of Arab youth believe corruption is the main problem in their country, but unemployment was close behind at 46 percent, according to Arab News. In the Arab world, 65 percent of the population are under the age of 30. The study interviewed 3,079 […]
Pensacola Shooting Puts U.S.-Saudi Relations in Spotlight; Trump Speaks with King Salman and Crown Prince
A Saudi soldier in training in the United States opened fire on a naval base in Pensacola, Florida on Friday, killing three and wounding 12. Second Lt. Mohammed Saeed Alshamrani was then killed by a sheriff’s deputy who responded to the attack. The attack shocked Saudis and Americans alike.
Saudi Aramco Officially the World’s Biggest IPO, Raises $25.6 Billion
Saudi Aramco sold 3 billion shares at 32 riyals ($8.53) each in its IPO, raising $25.6 billion, making it the world’s biggest IPO. The IPO values Aramco at roughly $1.7 trillion, making it the most valuable publicly traded company in the world ahead of Apple, which is worth about $1.15 trillion. It also soared past the previous […]
Saudi Arabia to Grant Citizenship to ‘Scientists, Intellectuals and Innovators’ From Around the World
In a bid to attract top talent and spark innovation in the Kingdom, Saudi Arabia has announced that it would grant full citizenship to “scientists, intellectuals, and innovators” from key sectors and focuses, according to reports.
Tiger Woods Cites Busy Schedule in Declining to Play in Saudi Invitational, Defends Mickelson’s Decision to Play
Tiger Woods has declined to play in the upcoming Saudi Invitational golf tournament early next year, citing one of the busiest tour schedules for the Master’s champ in recent years, and defended the decision by Phil Mickelson and others to play. Woods said that he understood that the decision could be difficult for some athletes, […]
Qatar, Saudi National Teams Set to Face Off in Semifinals of Gulf Cup in Doha
Qatar defeated the United Arab Emirates, 4-2, in the quarterfinals of the Gulf Cup being played in Doha, Qatar on Monday. The win advances the host country’s team to a semifinal match against Saudi Arabia on Wednesday. The match between the two teams has extra intrigue as the two nations play each other for the […]
Saudi Arabia Assumes G20 Presidency, Launches Promotional Video
Saudi Arabia has assumed the presidency of the Group of 20 nations (G20) for the year as it gears up to host the annual G20 meeting in Riyadh in 2020. The Kingdom launched a promotional video that has been widely shared on Twitter and other social platforms.
Saudi Economy: Consistent Growth in Non-Oil Activity, Modest Overall Growth Forecasted for 2020 — 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, the Riyadh-based firm said in a recently-released report.
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State Department Reprimanded Pakistan in August for Misusing F-16s, Document Shows
Addressed to the head of the Pakistani air force, Air Chief Marshal Mujahid Anwar Khan, the letter began by relaying the State Department's confirmation that Pakistan had moved the F-16s and accompanying American-made missiles to unapproved forward operating bases in defiance of its agreement with the U.S.
Turkey and Russia Judged Bigger Risk Than ISIS for U.S. Troops in Syria
The Trump administration’s rapidly shifting strategy in northern Syria has American commanders there scrambling to protect their forces from an expected surge in actions by military units from Turkey, Russia, Iran and the Syrian government, as well as their proxy forces, according to Defense Department officials.
New rocket attack targets Iraq base housing US troops
No casualties in overnight attack, the 10th since late October and days after another assault wounded six members of Iraq’s elite US-trained counterterrorism force in same camp
Inside the UAE’s lobbying efforts to lift European weapons-export bans
Emirati officials have in the discussions with European counterparts stressed the Gulf state’s need to defend itself while highlighting the UAE’s drawdown of troops in Yemen, the five people with knowledge of the discussions said. The restrictions had been imposed because of concerns that weapons could be used in the conflict in Yemen between a Saudi-led military coalition, that includes the UAE, and the Iran-aligned Houthi movement.
Lebanon Asks IMF for Technical Assistance on Rescue Plan
Lebanon’s caretaker Prime Minister Saad Hariri said he discussed with the heads of the International Monetary Fund and World Bank a possible plan to rescue one of the world’s most indebted countries from a financial crisis that has paralyzed trade and hit the currency.
Turkey sends Libya maritime accord to U.N. for approval: source
Turkey on Thursday sent its accord with Libya on a maritime boundary between the two countries to the United Nations for approval, a Turkish diplomatic source said, despite objections from Greece that the agreement violates international law.
Pertamina, Saudi Aramco discussing narrower Cilacap JV plan: Pertamina CEO
PT Pertamina and Saudi Aramco aim to finalize a deal in the first quarter of 2020 as they discuss a new plan for their joint venture, the Indonesian energy firm’s chief executive said.
Saudi Logistics Hub Promotes Investment Opportunities and Trading Ties With Singapore
Saudi Arabia currently commands a 55 percent share of the logistics market in the GCC region. Over the last decade, the country has invested more than US$100 billion in its transport and logistics infrastructure, resulting in a comprehensive nationwide network.
Military projectiles target hospital in Saudi border
Saudi Arabia announced on Wednesday that the Houthi militia has targeted a hospital in the border city of Jazan. Spokesman of the General Directorate of Civil Defense in Jazan Region Lt-Col. Yahya Abdullah Al-Qahtani said in a statement on the Saudi Press Agency that no injuries were reported in the attack that took place on Tuesday evening.
Selwa Al-Hazzaa makes Saudi Arabia the Center of Excellence for first USA FDA/EU approved “Retinal Gene Therapy”
Professor Al-Hazzaa, an international expert in Genetics, Gene Therapy and hereditary diseases in the Middle East indicates new opportunities of this precision medicine will be extended to other forms of “Inherited Retinal Diseases” such as Stargardt disease, Chorideremia, Usher syndrome, LHOA, Retinoschisis, other forms of RP and more genetic diseases that are extremely common in Saudi Arabia.
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