ECONOMY

Saudi Foreign Reserves Continue Climb, Non-oil PMI Index at Highest Since December 2017

jadwa-graphic
The recently-released Jadwa Investment report on the Saudi economy found a positive picture developing for the Kingdom, with economic data positive in May with the non-oil PMI index reaching its highest reading since December 2017.

Saudi Arabia

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OPEC+

Russia and Saudi Arabia agree to extend deal with Opec to curb oil output

The Saudi energy minister, Khalid al-Falih, said on Sunday that the deal would most likely be extended by nine months and no deeper reductions were...

 

G-20

Rebuked by many, Saudi crown prince feted at G20 summit

For many he’s an international pariah, but you wouldn’t know it by the lavish reception Saudi Crown Prince Mohammed bin Salman has received at the...

 

Economy

Oil production cuts weigh on Saudi growth in first quarter

Saudi Arabia’s economic growth more than halved on a quarterly basis to 1.66% in the first quarter of this year, in line with expectations of...

 

Debt Finance

Saudi Arabia widens funding base with dual-tranche debut euro bond

Saudi Arabia has hired a group of banks including Goldman Sachs and Societe Generale to arrange a global investor call ahead of an issuance of...

 

Housing and Real Estate

Saudi Arabia sees 212% surge in new mortgages in May

The number of residential loans awarded in Saudi Arabia surged 212 percent in May, compared to the same month last year, according official data. The monthly...

 

Pipeline Attacks

US says Saudi pipeline attack came from Iraq not Yemen, report

Iraqi Prime Minister Adel Abdul Mahdi last week denied the attacks could have come from Iraqi territory but US officials familiar with the investigation told...

 

Yemen Civil War

Yemen Houthis claim launch of fresh bomb-laden drone attack on Saudi Jizan airport

Yemen's Houthi rebels said they attacked Jizan airport in southern Saudi Arabia on Saturday night, using bomb-laden drones, the group's al-Masirah TV reported. "The attack hit...

 

Qiddiya

Saudi’s Qiddiya unveils Capital of Entertainment development hubs

The masterplan for Saudi Arabia’s Qiddiya gigaproject features five zones called development nodes that feature sport stadiums, hotel resorts, a residential neighborhood, theme parks, and...

 

Saudi-Egypt

Egypt seeks Saudi investments in its new cities

The real estate sector accounts for about 22% of Egypt’s GDP. To revitalise the sector, the government introduced amendments to laws granting citizenship to foreigners...

 

Saudi-S.Korea

Saudi Arabia invites South Korea for Neom, Qiddiya, first nuclear plant

In total, 14 MoUs pertaining to ICT, e-government and automobiles, hydrogen, medical insurance, culture, intellectual property rights, military purchase operations, think-tank cooperation, financial institutions, tourism,...

 

Technology

Saudi Arabia launches e-invoice payment platform for businesses

The Governor of Saudi Arabia Monetary Authority (SAMA) Dr. Ahmed Abdulkarim Alkolefi announced the launch of Esal – an electronic bill presentment and payment platform...

 

Saudi-Japan

Japan: Fast becoming Saudi students’ favorite destination

Due to the highly competitive nature of Japanese university entrance exams, the limited number of seats allotted to foreign students, and even the completely foreign...

 

Saudi-based Dhad raises investment for its Arabic audiobook platform

Dhad, a Saudi-based audiobook startup has raised investment in a round led by Raed Ventures, the startup told MENAbytes today without disclosing financial details of...

 

Entertainment

Saudi entertainment authority hosts Blue Man Group

Honoring its pledge to offer world-class entertainment to residents, citizens and tourists in Saudi Arabia, the General Entertainment Authority (GEA) is hosting the famous Blue...

 

Saudi +

Regional and related topics

Oil Markets

Oil firms as OPEC+ poised to extend supply cut

Oil prices were up on Monday as OPEC and its allies looked on track to extend supply cuts until at least the end of 2019...

 

U.S.-China

Stock futures jump after U.S.-China trade ceasefire

July’s first trading day has historically been the most bullish first day of all 12 months of the year, according to data compiled by the Almanac...

 

Iran Nuclear Agreement

Iran breaches nuclear deal’s uranium stockpile limits

Iran has surpassed the uranium stockpile limits established by a 2015 multinational nuclear deal, according to the Islamic Republic's semi-official Fars news agency, making good...

 

U.S.-Iran

Commentary: Iran shifts to higher-risk strategy as Trump bears down on pressure campaign

“The thing is, the less the Iranians have to lose, the less risk averse they will become,” Vaez said, adding, “It would be quite typical of...

 

U.S. Military

US deploys first F-22 fighter jets to Qatar, adding to Gulf buildup

The Air Force F-22 Raptor stealth fighters have been deployed “to defend American forces and interests,” the U.S. Air Forces Central Military Command said in...

 

Syria

Countries May Begin Backfilling US Troops in Syria Within Weeks, Envoy Says

Several member states of the counter-ISIS coalition are expected to announce within weeks that they will backfill U.S. ground troops withdrawing from Syria, in what...

 

Turkey

Former Turkish PM Davutoglu slams Erdogan’s AKP after Istanbul defeat

A former Turkish prime minister and close ally of President Tayyip Erdogan on Saturday harshly criticized the ruling AK Party after a stinging electoral defeat...

 

Sudan

Scores of protesters wounded and seven dead on Sudan’s streets

Seven people have died and nearly 200 have been wounded during huge demonstrations in Sudan, the first large-scale protests since a crackdown on a camp...

 

Afghanistan

Kabul blast: Taliban attack kills at least 16 in Afghan capital

The Taliban detonated a powerful car bomb in an area of Kabul housing military and government buildings, killing at least 16 the interior ministry told...

 

Bahrain

Bahrain recalls Iraq ambassador over embassy attack

More than 200 demonstrators broke into the courtyard of Bahrain’s Embassy in Baghdad and took down the kingdom’s flag on Thursday night to protest a...

 

Turkey

Six Turkish Sailors Freed by Libyan Captors After Turkey Warning

Six Turkish sailors were freed by their Libyan captors after Ankara threatened to take military action in the conflict-ravaged North African country. The sailors -- who...

 

Iran

Iran seizes 1,000 Bitcoin mining machines after power spike

Bitcoin mining has reportedly sprung up in a variety of locations in Iran. "Everyone's talking about Bitcoin and how to get it," said Mahsa Alimardani, a...

 

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