ECONOMY

Kingdom’s Finances Trending Positively as Higher Oil Enables Government to Increase Spending by 7% in 2019

Saudi Arabia's new Minister of Finance Mohammed Al-Jadaan.
“I hope that the private sector sees in the contents of this statement a clear message of the government’s determination to support economic growth,” Saudi Finance Minister Mohammed Al-Jadaan said on Sunday.

Saudi Arabia

News, analysis, and more

Economy

Saudis Target Higher Spending to Bolster Economic Growth

Public spending is expected to reach 1.106 trillion riyals ($295 billion) in 2019, 100 billion riyals more than the government had projected last year, Finance ...

 

U.S.-Saudi Relations

Trump calls Saudi’s King to discuss oil supplies

U.S. President Donald Trump called Saudi Arabia’s King Salman on Saturday and they discussed efforts being made to maintain supplies to ensure oil market stability ...

 

Saudi-Pakistan

Saudi team arrives in Pakistan, may sign four MoUs

Pakistan and Saudi Arabia are expected to sign four memoranda of understanding (MoUs) for oil and mineral sector investment and trade cooperation that would ultimately ...

 

Solar Power

Saudi Arabia puts world’s biggest solar power project on hold

The project and the 200-gigawatt goal were considered a loose agreement and potential ambition, not an explicit commitment to generate that amount of capacity by ...

 

Salary Performance

Can Saudi Strike a Balance Between Its Rising Inflation Rate and Uneconomic Salary Bonuses?

While average salary increases were consistent with 2017 figures, those increases didn’t keep up with inflation. A rising inflation rate of 4.4%, up from 2.2% ...

 

FATF

Saudi misses out on joining anti-illicit funding body for now

Saudi Arabia has missed out on gaining full membership of the Financial Action Task Force (FATF) after the global body dedicated to fighting illicit money ...

 

'Sharek'

Details of new Saudi e-visa system announced

Saudi Arabia’s General Sports Authority (GSA) on Sunday announced details of its new electronic visa system, Sharek, which has gone live and will allow international ...

 

World Boxing Super Series

Saudi boxing fans real winners in historic Jeddah fight night

One fighter took home $10 million and the inaugural Muhammad Ali Trophy, the other took home $5 million — but the real winners on a ...

 

Saudi-Kuwait

Saudi Crown Prince to discuss Neutral Zone oil output during Kuwait trip

Saudi Arabia’s Crown Prince Mohammad bin Salman is expected to discuss the resumption of oil output from the Neutral Zone, which the kingdom’s shares with ...

 

Border Security

Saudi-led coalition foils Houthi attack on Jizan port: SPA

A Saudi-led military coalition fighting against Yemen’s Houthi movement foiled an attack by two explosives-laden remote controlled boats deployed by the Houthis against Saudi Arabia’s ...

 

Saudi Film Council

Saudi national library of film-shooting sites launched

The council is urging private companies and citizens to add sites to the list via www.film.sa. ...

 

Saudi +

Regional and related topics

Syria

Trump eyeing Arab ‘boots on the ground’ to counter Iran in Syria

Arab allies and local proxy forces backed by U.S. air power could replace the roughly 2,000 American troops deployed there now as the administration begins ...

 

Global Oil Markets

Opinion: Hedge funds doubt Saudi Arabia will replace Iranian oil

Hedge fund managers are increasingly betting Saudi Arabia and its allies cannot or will not replace all the crude lost from the market when U.S. ...

 

ME Stock Markets

Middle East funds less positive on equities, particularly in Egypt

Middle East funds have become less positive toward regional equities, particularly in Egypt, because of concern about instability in emerging markets globally, a monthly Reuters ...

 

War in Yemen

UN rights body renews experts’ probe of Yemen crimes

The Human Rights Council, in a measure brought by Western countries, voted 21-8 with 18 abstentions. Burundi, China, Cuba, Egypt, Pakistan and Venezuela joined Saudi ...

 

Egypt

98% of Egypt’s total area is desert, says minister

“97 per cent of Egypt’s water comes from outside the country,” the minister pointed out. ...

 

Abraaj Capital

What’s Left of Abraaj and How It Collapsed So Quickly: QuickTake

The problems for the buyout firm and its founder, Arif Naqvi, began in February with allegations that money in the company’s health fund had been ...

 

Tunisia

IMF disburses $245 million loan tranche to Tunisia

The IMF has approved the payment of a $245 million loan tranche to Tunisia, the fifth under its loan programme. ...

 

Iran

Could Trump put an end to the Iranian art boom?

Interest in Iranian art appears to have boomed in recent years. In 2016, a Tehran art auction attracted record sales of $7.4 million, sparking hopes ...

 

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