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Deputy Defense Minister Khalid bin Salman to Visit Washington, London to ‘Urge Restraint’ as U.S.-Iran Tensions Soar
Saudi Arabia’s Crown Prince Mohammed bin Salman has instructed his younger brother and deputy defense minister Prince Khalid bin Salman to travel to Washington and London to “urge restraint” after the killing of a top Iranian commander has sent regional tensions soaring.
Saudi Arabia Mum on Soleimani Death So Far
Top Saudi officials have yet to comment publicly on the news last night of the U.S. drone strike on Iran’s powerful Quds Force commander Qasem Soleimani.
Saudi Non-Oil GDP Rises as Vision 2030 Reforms Kick In
Economic indicators from the month of November show a continued positive trend for Saudi Arabia, with non-oil GDP surging and credit to the private sector rising to the highest rise in 3 years, Jadwa Investment said.
Riyadh’s Night Skies Light Up with New Years Fireworks for the First Time
The night sky over Riyadh was illuminated with fireworks and light shows to celebrate the beginning of the new decade last night.
Lockheed Martin Awarded Contract to Build Four MMSC ships for Saudi Arabia
The Navy announced Friday that Lockheed Martin was awarded a $1.96 billion contract to modify four multi-mission surface combatants (MMSC) for Saudi Arabia. This award is an addition to Saudi Arabia’s $11.25 billion agreement to provide MMSCs in 2015.
U.S. Probe of Saudi Oil Attack Shows it Came From the North – Reuters Report
The United States said new evidence and analysis of weapons debris recovered from an attack on Saudi oil facilities on Sept. 14 “indicates the strike likely came from the north, reinforcing its earlier assessment that Iran was behind the offensive,” Reuters reports in an exclusive. The attacks on September 14th were significant. Two of Saudi […]
The Big Business of Riyadh Season: GEA Nets $270 Million from Entertainment Push
The chairman of the General Entertainment Authority (GEA) in Saudi Arabia said that the Kingdom’s “Riyadh Season” of events has generated more than SR1 billion ($270 million) for the GEA, according to Arab News.
Unemployment declines in Saudi Arabia, further gains seen in 2020 – Jadwa Investment
Unemployment in Saudi Arabia declined in the 3q 2019 and is likely to continue to improve as a pick-up in the non-oil private sector growth should translate to more jobs, according to a recent report from Jadwa Investment.
Global Construction Giant Bechtel Opens New Office in Al-Khobar, Saudi Arabia
Global engineering, procurement and construction (EPC) firm Bechtel has re-opened its office in Al-Khobar to “meet the increasing demand for quality services in the Oil and Gas sector in Saudi Arabia and in the region,” SUSTG has learned.
Saudi Arabia’s Spending Cuts Could Reduce the Kingdom’s ‘Fiscal Vulnerabilities’ to Oil Price Fluctuation, IIF Says
Saudi Arabia will lower government spending in 2020 as the Kingdom’s economic and social reforms start to kick in. That could help reduce Saudi Arabia’s medium-term fiscal vulnerabilities to lower oil prices, the Institute of International Finance (IIF) said, and put Saudi on track for a balanced budget by 2023.
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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.
Saudi Arabia records a 51 per cent increase in FDI in 2019, Invest Saudi
In a report, Invest Saudi, the state entity in charge of promoting foreign investment, said that a total of 1,131 of foreign companies were created in 2019, a 54 per cent increase from 2018, adding that this was the biggest rise in 10 years. Of the 1,131 investor licences issued in 2019, 69 per cent were full foreign ownership and 31 per cent accounted for joint venture partnerships with local investors.
Saudi Arabia reiterates its commitment as top Sudan Donor
Saudi Arabia, the biggest aid provider to Sudan, has pledge continued commitment to the beleaguered state. The pledge was made a high-level roundtable on Humanitarian Aid in Sudan co-hosted by the UK, Sweden and the UN's Office for the Coordination of Humanitarian Affairs (OCHA) in London.
Car bomb attack wounds Turkish contractors, police near Somali capital
Somali insurgents linked to al Qaeda claimed responsibility for a car bombing on Saturday that wounded at least 15 people in Afgoye, northwest of the capital Mogadishu.
Saudi courts to handle copyrights, patents cases
Saudi commercial courts and departments will handle copyrights and patents-related cases from February. The cases will be heard in commercial courts and in commercial departments inside general courts across the Kingdom.
Gulf carriers fly over Iraq, Iran after military action deters others
Qatar Airways, Emirates and several other Gulf airlines still fly in Iraqi and Iranian airspace and to cities in both countries, even as other international carriers have rerouted planes since the United States and Iran traded military strikes.
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