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Saudi Ambassador Princess Reema Visits Naval Air Station in Pensacola, Florida, Offers Condolences to Victims
Saudi Arabia’s Ambassador to the United States Princess Reema al-Saud visited the Naval Air Station Pensacola in Florida on Thursday to “personally extend her deepest condolences for the tragedy that unfolded last week and to reinforce Saudi Arabia’s full cooperation with U.S. authorities in investigating this senseless act of violence,” the Saudi embassy in Washington, […]
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.
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Desert X AlUla—the inaugural sculpture biennial in a historic Saudi Arabian valley—announces participants
Fourteen artists including five Saudi nationals will take part in the inaugural Desert X exhibition launching in the vast AlUla region in northwest Saudi Arabia later this month (31 January-7 March).
SATS Saudi Arabia wins cargo concession in Riyadh
SATS operates 10 cargo terminals in Beijing, Dammam, Ho Chi Minh, Hong Kong, Jakarta, Kuala Lumpur, Mumbai, Bengaluru, Oman and Singapore.
France deploys radar system in Saudi Arabia to ‘reassure’ kingdom
France has deployed a radar system on the eastern coast of Saudi Arabia to beef up its ally’s defenses after missile attacks on the kingdom’s oil infrastructure in September, French officials said.
Saudi Arabia Strongly Condemns Houthi Terrorist Attack in Yemen’s Marib
Saudi Arabia strongly condemned on Monday the terrorist attack carried out by the Iran-backed Houthi militias against a mosque in the al-Estiqbal military training camp in Yemen’s Marib last week. The Foreign Ministry said the Houthis commit such acts to deliberately undermine the political process in Yemen.
Turkey interest rate cut to dampen foreign investor appeal
Turkey’s move to cut interest rates highlights the country’s economic fragility and its exposure to geopolitical risk, say analysts. The latest 75 basis point cut on Jan. 16 follows four consecutive cuts during the last four monetary policy meetings that were held last year. In a bid to stimulate growth, President Recep Tayyip Erdogan also hinted recently about the forthcoming interest rate cuts.
The 50th Davos summit in numbers
BBC News takes a look at some of the numbers around the 50th World Economic Forum in Davos, Switzerland.
Ministry of Housing, With the Support of Alpin, Develop Mostadam, New Green Building Rating System
Alpin Limited is proud to have been an integral part of the development of Mostadam, a new green building rating system developed by the Ministry of Housing of the Kingdom of Saudi Arabia. Mostadam, launched in October 2019, will have a great impact on construction projects in the region. It draws inspiration from the Saudi Vision 2030 and its objectives (energy, water, and human health). Mostadam will greatly improve sustainability in the construction industry and will have a resoundingly positive social and economic impact.
Hundreds injured in Lebanon as violence flares in ‘week of anger’
Lebanese medical groups said at least 377 people were injured on Saturday, including 80 who were taken to hospital, during the culmination of days of unrest that organisers called a “week of anger” after a relative lull.
World Economic Outlook Update, January 2020: Tentative Stabilization, Sluggish Recovery?
Trade policy uncertainty, geopolitical tensions, and idiosyncratic stress in key emerging market economies continued to weigh on global economic activity—especially manufacturing and trade—in the second half of 2019. Intensifying social unrest in several countries posed new challenges, as did weather-related disasters—from hurricanes in the Caribbean, to drought and bushfires in Australia, floods in eastern Africa, and drought in southern Africa.
America Is Awash With Natural Gas and It’s About to Get Worse
The Appalachian region has spearheaded a historic expansion, turning the U.S. into the world’s biggest producer while slashing prices for consumers and sounding the death-knell for domestic coal. But the dark side of the boom is increasingly difficult to ignore. Shale drillers are extracting so much gas that it’s overwhelming demand.
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