Future Mega-City NEOM in Saudi Arabia Receives First High-Profile Holiday Visitor: King Salman

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Saudi Arabia

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Public Investment Fund

Saudi’s PIF aims to raise between $6-8 billion in first loan: sources

Saudi Arabia’s top sovereign wealth fund is seeking to raise between $6 and $8 billion from banks as it seeks to boost its firepower to ...

 

NEOM

Saudi Arabia’s King Salman, 82, holidays in still unbuilt £380billion mega city NEOM

It is an unusual holiday destination for King Salman, who in summer can often be seen in exotic locations such as the French Riviera, Marbella ...

 

Personal Wealth

Saudi: Personal wealth to reach $1.1 trillion by 2022

Private wealth in Saudi Arabia grew 3 percent between 2016 and 2017 and is expected to grow to $1.1 trillion in investible assets by 2022, ...

 

Saudi Oil Policy

Commentary: Saudi Arabia Is in a Double Bind on Oil Prices

At the OPEC meeting held in Vienna on 22 June, Saudi Arabia successfully pushed for an increase in oil production, despite opposition from Iran, Iraq ...

 

Banking and Finance

CEO confirms Credit Suisse seeking Saudi banking license

Credit Suisse (CSGN.S) Chief Executive Tidjane Thiam personally traveled to Saudi Arabia to apply for a banking license, he said on Tuesday, confirming Reuters information ...

 

Saudi-UK

UK firm PwC criticised over bid for major Saudi Arabia contract

One of Britain’s biggest consulting and accountancy firms has been negotiating to land a major contract to help streamline and modernise Saudi Arabia’s military, the ...

 

Labor

Issue of work permits linked to residential rent contracts in Saudi Arabia

The Ministry of Labor and Social Development and the Ministry of Housing announced that work permits shall only be issued or renewed in the presence ...

 

Badir

Saudi Arabia start-ups raise $3.11 million funding in Q2 2018

Funding in Saudi Arabia was able to keep pace in Q2 2018, showing strong signs of ecosystem growth in the Kingdom’s market according to The Badir ...

 

Oil Prices

Why is Saudi halting oil shipments through the Red Sea?

Analysts say Saudi Arabia is trying to encourage its Western allies to take more seriously the danger posed by the Houthis and step up support ...

 

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Regional and related topics

Global Oil Markets

Oil Set for Biggest Monthly Loss in Over a Year on Supply Gains

Oil retreated in New York, heading for its biggest monthly loss since March 2017, as some of the supply risks facing the market abated. ...

 

U.S.-Iran

Trump says he’s willing to meet Iranian President Rouhani ‘anytime’ and without preconditions

Trump said he would meet Iranian President Hassan Rouhani without preconditions, stressing that he believes meeting with adversaries is the best path to resolving conflicts. ...

 

GPS

The World Economy Runs on GPS. It Needs a Backup Plan

It’s tough to overstate how GPS-dependent the world economy has become since the U.S. Department of Defense started giving the service away to the public ...

 

Iran in the Region

UN Panel Finds Further Evidence of Iran link to Yemen Missiles

In a confidential report to the Security Council, a copy of which was seen by AFP on Monday, the panel said it "continues to believe" ...

 

Syria

UN Envoy Plans September Talks on New Syria Constitution

The UN peace envoy for Syria said Tuesday that he plans to host Iran, Russia and Turkey for talks in September on finalising a committee ...

 

Israel-Palestine

If you want Israelis to favor peace negotiations, let them trade stocks

Since most Israelis are not active investors, they have little direct exposure to the broader economic costs of the conflict, leading them to underestimate the ...

 

Algeria

7 soldiers, 4 extremists killed in clash in Algeria

Four extremists were killed in a violent clash in the Skikda region, some 420 kilometers (260 miles) east of the capital city of Algiers, Algeria’s ...

 

Afghanistan

Afghanistan attackers take dozens hostage in eastern city

There was no immediate claim of responsibility, though the Taliban issued a statement denying involvement and a spate of deadly attacks on the city in ...

 

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