King Salman Announces ‘Sweeping’ Cabinet Reshuffle Affecting Top Domestic, Foreign Policy Posts

King Salman will visit Russia on Thursday for a state visit.
King Salman announced on live TV on Thursday a major and sweeping reshuffling of top cabinet positions in Saudi Arabia, the first such change in leadership since June.

Saudi Arabia

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Sovereign Wealth Funds

Two Saudi sovereign wealth funds among the Top 10 globally

Saudi Arabian Monetary Authority (SAMA) has retained its position as the world’s sixth largest sovereign wealth fund (SWF) with a net worth of $515.6 billion, ...


Saudi Cabinet

Saudi Arabia reshuffles cabinet headed by King Salman

Ibrahim Al-Assaf was appointed as Minister of Foreign Affairs, a position that was formally held by Adel Al-Jubeir, who was appointed as Minister of State for ...


U.S.-Saudi Relations

Saudi Arabia clarifies Trump tweet: No new pledges to rebuild Syria

President Donald Trump on Monday announced that Saudi Arabia  “has now agreed to spend the necessary money” for Syria’s reconstruction, briefly raising questions about whether ...


Banking and Finance

Saudi Said to Weigh More Bank Mergers as NCB Announces Talks

Saudi Arabia is exploring potential mergers to boost its financial services industry after the combination of Saudi British Bank and Alawwal Bank, according to people ...


Khashoggi Crisis

Investors Fret Over Khashoggi Killing but Still Maintain Saudi Ties

“Were there mistakes made? Absolutely there were mistakes made,” said Matt Michelsen, an associate of John Burbank and a Silicon Valley investor. “But this place ...


Expat Fees

Saudi Arabia to Release Findings of Expat Levy Review Next Month

The fees were introduced in 2017 as part of a drive to increase non-oil government revenue -- a key goal of Crown Prince Mohammed bin ...



Saudi awards contract for world’s largest water desalination plant

Acwa said the plant, procured under a 25-year build-own-operate contract, will cater to the water demands of Holy City Makkah al-Mukarramah and Jeddah, “especially during ...



Saudi Arabia said to privatize six water projects in 2019

One was awarded this week, three are in various stages of tender process and three more will be offered to investors next year, it said. ...


Travel and Tourism

Saudi Arabia Unveils Plans To Create Massive Red Sea Wellness Destinations

The Saudi Kingdom Public Investment Fund recently announced plans for a new luxury development on the coast of the Red Sea. Led by luxury hospitality ...


Art and Culture

Sotheby’s In Talks To Help Saudi Prince Build Desert Art Oasis  

Saudi Crown Prince Mohammed Bin Salman has set multiple ambitious agendas for his desert kingdom. Turning it into a major cultural destination may end up being one of ...


Saudi Aramco

Saudi Aramco sets up fuel retail subsidiary as part of downstream business push 

The move is part of Aramco’s overall strategy of further enhancing its crude production, increase its refining capacity and invest in its consumer-facing business. ...


Housing and Real Estate

Saudi Real Estate Refinance Sets Up $2.93 Billion Sukuk Program

Saudi Real Estate Refinance Co., a unit of the kingdom’s sovereign wealth fund, set up an 11 billion-riyal ($2.93 billion) Islamic bond program to increase ...


Saudi +

Regional and related topics

Trump Foreign Policy

Trump hails foreign policy shift on surprise visit to US troops in Iraq

Trump made the secret 11-hour flight on Air Force One with lights off and window shades drawn plus military jet escorts. He was accompanied by ...


Trump Foreign Policy

U.S. forces will stay in Iraq and could reenter Syria from there, Trump says

He said last week that U.S. troops would be coming out of Syria because victory had been achieved over the Islamic State. But the mission ...


Global Oil Markets

IEA: US oil production will equal Saudi Arabia and Russia’s combined output by 2025

US production, driving by the extraction of shale resources, is expected to grow by 3.7mn barrels per day (bpd) by 2023. Global production capacity is ...


Mattis Resignation

Perspective: Mattis’ Resignation is Bad News for Gulf Arab Countries

It’s unlikely that Mattis’ replacement will understand, and indeed share, as much of the Gulf Arab regional strategic evaluation. So, his resignation will undoubtedly be ...


Secretary of Defense

Trump: No plans to name Mattis replacement soon

President Donald Trump has no plans to nominate a replacement for Defense Secretary Jim Mattis any time soon, and said acting secretary Patrick Shanahan may ...



UAE reopens embassy in Syrian capital closed in 2011

The United Arab Emirates reopened its embassy in Syria’s capital on Thursday for the first time in seven years, a reflection of improved relations between ...


Russia in the Region

Russia Tells U.S. Not to Interfere in Saudi Crown Prince MBS Becoming King, Despite Khashoggi Killing

Russia’s deputy foreign minister and Middle East envoy, Mikhail Bogdanov, warned on Tuesday that the U.S. should not try to influence the line of succession ...


Channel Crossing

Why are Iranians crossing the Channel in dinghies?

Since 3 November, 101 migrants - including four children - have attempted the 21-mile journey across the Channel, one which police have likened to "trying ...



Why Are Filipinos in the Middle East Sending Less Money Back Home?

Remittances from Kuwait fell by 20.4 percent despite the resumption of OFW deployment last May. Bahrain showed negative 22.9 percent, transfers from Oman dropped by ...



Deposed Egyptian presidents come face to face in court

Two protagonists of Egypt’s recent history faced each other in court on Wednesday, with toppled strongman Hosni Mubarak testifying for the first time against the ...



Saudi Arabia to lift travel ban on Lebanon after gov’t formation

Saudi Ambassador to Lebanon Walid Bukhari said Thursday that Saudi Arabia will remove the travel ban on Lebanon upon the formation of a Lebanese government, ...


UAE Banking

Sharjah govt plans to invest about $517 mln in Invest Bank

The Sharjah government stepped in to support Invest Bank, one of the smaller banks in the UAE, after it was hit by recent high levels ...


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