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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.
Crown Prince Mohammed bin Salman Begins State Visit to UAE Wednesday
Saudi Arabia’s Crown Prince Mohammed Bin Salman will start a state visit to the UAE on Wednesday, according to Al Arabiya news. During the official visit, the Saudi Crown Prince will meet Sheikh Mohammad Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. The two leaders […]
China’s Imports of Saudi Oil Soar 76% in October as Demand Increases
China’s crude oil imports from Saudi Arabia rose over 75% in October as demand from new refiners was met by the Kingdom, according to Reuters data. The 76.3% rise in October was boosted by demand particularly from from two new integrated refineries, the Hengli Petrochemical Co. in the north, and Zhejiang Petrochemical in the south, Reuters reports. […]
Saudi Arabia Gears Up to Host G20 Summit; Saudi FM Travels to Japan for Ceremony
Saudi Arabia is making major preparations to host the annual gathering of the leaders of the Group of 20 (G20) nations next year in Riyadh, the 15th meeting of the group that is set to thrust the city into the global spotlight. The meeting will be held on November 21–22, 2020, and will be chaired […]
U.S. Continues Troop Deployments to Saudi Arabia
The United States is continuing forward with a deployment of 3,000 troops to Saudi Arabia to deter threats from Iran, according to a letter sent by President Trump to the U.S. Congress this week. “United States Armed Forces have been deployed to the Middle East to protect United States interests and enhance force protection in […]
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Saudi Binladin Leadership Overhaul Slows $15 Billion Debt Revamp
Saudi Arabia’s biggest construction company overhauled its top management, delaying plans to appoint an adviser for a proposed $15 billion debt restructuring, people familiar with the matter said. Saudi Binladin Group’s previous chairman and managing director left within months of being appointed, the people said, asking not to be identified because the matter hasn’t been made public. The company also named four new directors to its board this week, they said.
Iraq cleric calls for new premier without foreign influence
“We hope the head of the new government and it’s members are chosen within the constitutional deadline and according to the aspirations of the people and away from outside influence,” the Grand Ayatollah Ali al-Sistani said in his weekly Friday sermon in the holy city of Najaf. The sermon is always delivered by a representative.
Archaeologist launches private bid to retrieve priceless Egyptian treasures from European museums
Egypt’s famed archaeologist and a former antiquities minister, Zahi Hawass, is launching a campaign for the restitution of treasures from Europe’s leading museums. “I am heading a private team of Egyptians and foreigners to encourage restitution,” he told The Art Newspaper at the opening of the Tutankhamun exhibition in London last month.
Middle East innovation: These four startups are making their mark
"The Middle East was late to the first, second, and third industrial revolutions. This time, it must be ahead of the curve," Khalid Al Rumaihi, chief executive of the Bahrain Economic Development Board argued earlier this year.
Netanyahu’s annexation of Jordan Valley already a reality, say Palestinians
With their water already stolen by Israeli settlers and facing legal discrimination, residents say any formal move will make little difference
France to convene meeting to mobilize support for Lebanon
France plans to convene a meeting of an international support group for Lebanon on Dec. 11 to mobilize assistance for the country as it grapples with an acute economic crisis, a Lebanese government official said on Friday.
With the Help of Russian Fighters, Libya’s Khalifa Haftar May Soon Take Tripoli
All this may sound like good news to Haftar, who, for the first time, could conceivably take Tripoli. But the battlefield advantages that come with Russian aid may carry costs. On Nov. 14, the U.S. State Department issued its most forceful condemnation yet of his war, singling out his militia by name and asserting that his alliance with Russian mercenaries is a dangerous breach of Libyan sovereignty.
U.S. military could add troops to Middle East, but struggles to explain plans
The United States military struggled on Thursday to explain its plans for potential increases in U.S. forces in the Middle East amid concerns Iran could carry out further aggressive actions in the region. U.S. officials, speaking on the condition of anonymity, told Reuters the United States was considering sending thousands of additional troops to the Middle East to deter Iran, but that no decision had been made and the situation remained fluid.
Iran Faces Tougher Stance From Europe Over Nuclear Deal Violations
France, Britain and Germany will ratchet up pressure on Iran in coming weeks by triggering a dispute mechanism if Tehran continues its prohibited moves away from the 2015 nuclear deal, diplomats say.
Assessing US policy toward Iran
In the aggregate, Tehran is able, despite the maximum pressure campaign, to deter an assault on Iran by threatening to inflict substantial damage on the attacker or the attacker’s regional allies and interests.
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