RED SEA ATTACK

Reports: Houthis Thwarted in Attack on Saudi Oil Tanker

GCC joint exercise security saudi-border-guard-navy-boat
Houthi rebels in Yemen were foiled in an attack in international waters on a Saudi oil tanker, the Saudi Gazette and major news services report.

Saudi Arabia

News, analysis, and more

War in Yemen

Saudi Arabia halts oil exports in Red Sea lane after Houthi attacks

Saudi Arabia said on Thursday it was suspending oil shipments through a strategic Red Sea lane after Yemen’s Iran-aligned rebels attacked two tankers in the ...

 

Trade

European Countries Race to Ink Mega Projects in Saudi Arabia

The Council of Saudi Chambers discussed on Wednesday mechanisms of implementing the initiative for EU-GCC dialogue on economy diversification and joint cooperation between the Kingdom ...

 

Oil Prices

Oil Rises as Saudi Attack Underscores Geopolitical Risk Premium

Brent futures rose as much as 1.2 percent after adding 0.7 percent Wednesday. Two vessels were attacked by Yemeni Houthi militia, leading Saudi Arabia to ...

 

Saudi Economy

Analysis: Signs Point To Trouble Ahead For Saudi Economy

Saudi Arabia is in the midst of a centralized development plan to boost its lagging economy, led by the ambitious and still popular Crown Prince ...

 

Islamic Bonds

Saudi Arabia issues $925 million Islamic bond

The Government selected five local banks Alinma Bank, Bank Aljazira, Samba Financial Group as well as National Commercial Bank and Saudi British Bank to act as primary dealers, ...

 

F-15SA

Alsalam awarded $59.7M contract for Saudi F-15 upgrades

The contract, announced Tuesday by the Department of Defense, enables the continued shift to the F-15SA, which at the time of its debut  ...

 

Finance

Saudi finance ministry goes live with digital financial platform Etimad

The Ministry of Finance’s digital portal Etimad, to streamline services for the public and private sector, has gone online. ...

 

Housing and Real Estate

Housing rents fall in Saudi Arabia on expat departures, economic reforms

Housing rental prices have weakened in Saudi Arabia this year due to tough economic conditions and new labour fees imposed on expat employees, according to ...

 

South Africa Power

Saudis To Invest $10B In South Africa’s Energy Sector

The funds can’t come soon enough for South Africa, whose power sector outages likely represent the African nation’s number one problem. ...

 

Food and Beverage

Ritz-Carlton in Saudi Arabia Hires Female Vegan Chef

Plant-based chef Al-Maha Al-Dossary is one of 15 new female chefs to join the luxury hotel’s team as part of an initiative to empower women ...

 

Economy

Saudis Load Up on Debt as Government’s Austerity Program Bites

Since the beginning of 2018, the government has raised fuel and utility prices, introduced value added tax and imposed a levy on some temporary foreign ...

 

Saudi +

Regional and related topics

Pakistan

Uproar as Pakistan election results delayed and Khan tipped for power

Pakistan was gripped by electoral chaos Thursday with the results from its pivotal general election delayed and major parties denouncing "blatant rigging", as former cricket ...

 

Global Oil Markets

Oil Rises as Saudi Attack Underscores Geopolitical Risk Premium

Thursday’s gain highlights the growing political-risk premium in the crude market, even though Brent’s current contango price structure suggests there’s still ample supply. ...

 

Iran

Iran special forces chief tells Trump Tehran will respond to any hostile action

An Iranian military commander said on Thursday that Donald Trump should address any threats against Tehran directly to him, and mocked the U.S. president as ...

 

Egypt

Egypt’s economy grows 5.3 percent, highest in 10 years: minister

Egypt’s gross domestic product grew by 5.3 percent in the 2017-18 fiscal year ending in June, the highest rate in 10 years, Planning Minister Hala ...

 

Syria

IS Leaves Syria Druze Reeling from Heaviest Losses of War

The death toll in coordinated Islamic State group attacks in Syria's Sweida neared 250 on Thursday, the Druze-majority province's heaviest loss of life of the ...

 

Iran

Iran Names New Central Bank Head Amid Currency Collapse

The central bank has been sharply criticized for its handling of the currency crisis. The rial has lost more than half its value against the ...

 

Blue Diamond

Dubai police recover rare $20 million stolen blue diamond

Dubai police say they’ve recovered a rare $20 million blue diamond that was stolen from a city company’s vault and smuggled to Sri Lanka inside ...

 

Nikki Haley

US envoy to UN: Arab states do not really support Palestine

US ambassador to the United Nations Nikki Haley has blamed Middle Eastern countries for not doing enough to financially help the Palestinians and assist them with ...

 

Renewable Energy

Why Are Top Companies Pushing for 100 Percent Renewable Energy?

The YouGov survey also found that 79 percent of executives surveyed found strengthened brand reputation to be one of the most significant business benefits for ...

 

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