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Saudi Authority Calls on UNESCO to Protect Traditional Khawlani Coffee Cultivation Techniques
The Saudi Heritage Preservation Society has called on UNESCO to protect traditional Khawlani coffee cultivation techniques in Saudi Arabia in a press release, noting that the Arabian tradition “has been passed down for generations by the ancient tribes of Khawlan who have grown and processed Khawlani coffee beans in the verdant valleys of Jazan, a region […]
Report: SABIC, Aramco set to decide on oil to chemicals project in 2Q 2020
Saudi Basic Industries Corp (SABIC) and Saudi Aramco expect to announce in the second quarter whether they’ll proceed with plans to build a facility to process crude oil directly into chemicals, Bloomberg reports.
The Economic Impact of Saudi Arabia Hosting the G20 Summit
A recent report from Jadwa Investment looks at the economic impact of Saudi Arabia hosting the G20 Summit, noting that while the Riyadh has hosted major summits before, “the G20 summit differs due to the sheer number of different events related to it” with more than 120 workshops, ministerial meetings and specialized seminars scheduled throughout […]
World Bank’s Women, Business and the Law Report says Saudi Arabia Top Reformer, Improver Among 190 Economies
The Kingdom of Saudi Arabia has realized a remarkable leap in the World Bank’s Women, Business and the Law 2020 report, with a score of 70.6 out of 100 and achieving the honor of being the top improver over the last year, according to reports.
Using ‘Greenshoe Option’, Saudi Aramco Raises IPO to Record $29.4B; Banks Seek ‘Incentive Fee’
Saudi Aramco sold millions of additional shares of its initial public offering using a so-called “greenshoe option” that has raised the size of its IPO by nearly $4 billion.
Saudi Aramco Energy Ventures Prepares New $500m Fund, Opens Office in China
Saudi Aramco Energy Ventures (SAEV), a unit of the kingdom’s energy company, is preparing to start a new $500 million fund this year after completing $500m in investments, Bloomberg reports.
World Bank Sees Saudi GDP Growth to Increase to 1.9% in 2020, with More Growth Onward
The World Bank forecasted Saudi Arabia’s GDP growth will increase significantly in 2020, to 1.9%, compared with 0.4% in 2019, with further gains in subsequent years.
Saudi Arabia launches third phase to build up solar power capacity, invites bidders for new projects
Saudi Arabia’s energy ministry has issued a request for qualifications for the third round of the Kingdom’s National Renewable Energy Program (NREP), which comprises of “four Solar PV projects with a combined generation capacity of 1,200 MW,” the Saudi Press Agency said.
With Tensions Soaring, Saudi Arabia Keeps Eyes on Cyber Threat from Iran
As tensions soar between the United States and Iran, Saudi officials are keeping close tabs on emerging cybersecurity threats that may be emanating from the Islamic Republic, according to a report.
Prince Khalid bin Salman Meets with President Trump at White House
Saudi Arabia’s deputy defense minister Prince Khalid bin Salman held several meetings with top U.S. officials yesterday in Washington, D.C., including Secretary of Defense Mark Esper, Secretary of State Mike Pompeo, and President Donald Trump.
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Iraq protesters battle security forces in bid to shut Baghdad streets
Rallies have rocked Iraq since October but, fearing they would lose momentum amid spiralling regional tensions, protesters last Monday told the government it had one week to meet their demands or they would escalate.
Yemen attack: 80 soldiers killed by Iran-backed Houthi rebels
At least 80 Yemeni soldiers attending prayers at a mosque were killed and 130 others injured in ballistic missile and drone attacks by Iran-backed Houthi rebels, the UN Special Envoy for Yemen reported Sunday.
Libya players agree cease-fire amid warnings war may become ‘next Syria’
The agreement on Sunday came after about four hours of talks in Berlin where German Chancellor Angela Merkel hosted leaders of 11 countries, with Libya’s two main rival leaders also in the German capital but not at the main conference table.
Pompeo Felt ‘Outrage’ Over U.S. Citizen’s Death in Egypt
U.S. Secretary of State Mike Pompeo “expressed outrage” to Egypt’s president on Sunday at the death of an American citizen who insisted he had been wrongfully held in Egyptian prison, according to a state department spokeswoman. Pompeo’s sharp remarks signal the U.S. government intended to place the death of Mustafa Kassem, 54, following his protracted hunger strike last week, high on the diplomatic agenda.
Saudi Arabia’s Qiddiya eyes first Formula One race in 2023
Saudi Arabia’s new entertainment giga-project Qiddiya, on the outskirts of Riyadh, has the potential to become the “motorsport capital of the world”, according to former Formula One star Alex Wurz. Wurz is behind the design of the new race track, which has been touted as a future venue for Formula One in 2023. Qiddiya already hosts a round of the Formula E Championship, while the new track will be designed up to the FIA Grade 1 standards required for F1.
Saudi IMI signs rig deals with ARO and Lamprell
International Maritime Industries, located in The King Salman Complex for International Maritime Industries & Services at Ras Al-Khair, Saudi Arabia, will be the largest, full service maritime facility in MENA. International Maritime Industries is a joint venture between Saudi Aramco, Lamprell, Bahri and Hyundai Heavy Industries.
Inaugural Saudi Cup coming up a blockbuster – and so could the undercard
A clash of Eclipse Award finalists Maximum Security, McKinzie, and Midnight Bisou ramps up anticipation for the inaugural $20 million Saudi Cup. Moreover, Riyadh’s Feb. 29 program as a whole could turn out to be a blockbuster, if the nominations for the supporting prizes are any indication.
Saudi Religious Scholars Debate if Shops Should be Closed at Pray Time
Saudi Arabia has recently announced allowing commercial activities to function for 24 hours, in a new string of promised boosts of business and provide services for all. While the change solves many problems, such as congestion and loss of potential income, many Saudis still debate whether or not it will include the custom of shops closing during prayer time, five times a day.
Saudi’s United Electronics to Evolve Online Platform, CEO Mohammed Galal Fahmi Says
Mohammed Galal Fahmi, chief executive officer of United Electronics Co., a consumer electronics retailer in Saudi Arabia, talks about its business strategy and outlook. United Electronics reported profit for the full year that beat the average analyst estimate.
Saudi Arabia’s 2020 growth forecast cut by IMF on OPEC+ cuts
Saudi Arabia's 2020 GDP will be 1.9%, down from 2.2% projected in October, the IMF said. The fund kept its 2021 forecast at 2.2%, compared with 0.2% for 2019.
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