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QUOTED
“The U.S. is a strategic partner and it has a big role in terms of international security….We are leaving it to our friends of the U.S. to conduct themselves in a manner they see fit in attending to a situation like this.”
-Prince Abdulaziz bin Salman, Saudi Arabia’s Minister of Energy, discussing the recent heightened tensions between the U.S. and Iran with CNBC’s Hadley Gamble. The Prince also said Saudi Arabia “will continue to do all it can do to ensure stable oil markets.” [CNBC.com]
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TOP STORY
Saudi Aramco Energy Ventures (SAEV), a unit of the kingdom’s energy company, is preparing to start a new $500 million fund this year after completing $500m in investments, Bloomberg reports. [more]
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TOP STORY
The World Bank forecasted Saudi Arabia’s GDP growth will increase significantly in 2020, to 1.9%, compared with 0.4% in 2019, with further gains in subsequent years. [more]
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MORE TOP STORYLINES
Via Clare Duffy in cnn.com : An over-allotment — also called a greenshoe option — allows a company to issue a certain percentage of additional shares above what it had initially planned for an IPO. The option can act as a stabilizing mechanism to keep shares from falling below their offering price.
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Via Dahlia Nehme in reuters.com : Saudi Arabian utility developer ACWA Power is planning to invest about $10 billion in 2020 as it eyes new projects in some 10 countries, the company’s chief executive said on Saturday. The company, which builds power and desalinated water plants and has 50% of its portfolio in Saudi Arabia, plans to expand into new markets, Paddy Padmanthan told Reuters on the sidelines of an energy event in Abu Dhabi.
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in bbc.com : Crowds gathered at the capital’s Sultan Qaboos Grand Mosque on Saturday before Qaboos was buried in a family cemetery. No cause of death has been confirmed but media reports suggest he was suffering from colon cancer.
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MORE ON THE KINGDOM AND BEYOND
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Saudi Arabia and other oil-rich Persian Gulf states have tried to avoid taking a position on America’s geopolitical rivalries in recent years,...[By Summer Said and Stephen Kalin via wsj.com]
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Saudi Arabia is moving closer to a potential deal to acquire a minority stake in a Pakistan mine controlled by Barrick Gold Corp., people with...[By Dinesh Nair, Matthew Martin, and Thomas Biesheuvel via bloomberg.com]
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It’s shaping up to be a banner year for the mobile esports industry, with an unprecedented amount of activity in the space in 2024. The...[via digiday.com]
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Saudi-based ACWA Power recognized as the world’s largest private water desalination company and a frontrunner in energy transition with a focus on green hydrogen, secured...[By Pooja Chandak via solarquarter.com]
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“Those Arab countries are in a very critical situation,” said Oraib Al Rantawi, director of the Al Quds Center for Political Studies, a think...[via nbcnews.com]
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When ancient humans pushed into the Arabian Peninsula, they found a world marked by magma. Swaths of it once erupted from volcanoes, leaving a landscape...[By Robin George Andrews via nytimes.com]
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Alongside further expansion in Saudi Arabia – the largest branded coffee shop market in the Middle East – Barn’s is also expected to...[via worldcoffeeportal.com]
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The total number of workers in the Saudi private sector reached 11.24 million in March 2024, the National Labor Observatory said.
The total number of nationals working in private-sector entities stood...[via argaam.com]
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Saudi Arabia is looking to raise over a billion dollars for the Neom megacity project from the sale of Islamic bonds, following reports that ambitions for...[via middleeasteye.net]
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Saudi Arabia’s mining sector is undergoing a significant transformation and is gearing up to become one of the key pillars of economic diversification efforts outlined...[By Yara Abi Farraj via economymiddleeast.com]
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The plane, en route to the Ukrainian capital of Kyiv, was carrying 167 passengers and nine crew members from several countries, including 82 Iranians, 57...[By Nasser Karimi and Joseph Krauss via apnews.com]
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Protesters denouncing Iran’s clerical rulers took to the streets and riot police deployed to face them on Monday, in a third day of demonstrations after...[By Babak Dehghanpisheh via reuters.com]
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Defense Secretary Mark Esper explicitly said Sunday that he had seen no hard evidence that four American embassies had been under possible threat when President...[By Robert Burns via apnews.com]
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Before dawn on January 3, as a United States drone fired missiles that killed Iran’s Quds Force head Qassem Suleimani in Baghdad, a separate strike...[By Ali Mahmood via thenational.ae]
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Iraq, like other countries, maintains government accounts at the New York Fed as an important part of managing the country’s finances, including revenue from oil sales....[By Ian Talley and Isabel Coles via wsj.com]
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In November 2019, freshly printed banknotes arrived in Aden, headquarters of the UN-recognized government of Yemeni President Abed Rabbo Mansour Hadi. From there they were pumped onto...[via al-monitor.com]
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As in all previous months, Saudi Arabia overcomplied significantly with its share of the cuts, helping the cartel achieve the new quota effective January a...[By Tsvetana Paraskova via oilprice.com]
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Complacency over risks and the belief that the market is abundantly supplied has meant that oil prices can no longer be used as a barometer...[By Adal Miles via atlanticcouncil.org]
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Despite the increase in tensions across the Middle East after the killing of an Iranian general by a U.S. air strike, hedge fund managers added...[By John Kemp via reuters.com]
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The White House is considering dramatically expanding its much-litigated travel ban to additional countries amid a renewed election-year focus on immigration by President Donald Trump,...[via apnews.com]
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Legal adviser's opinion says speaker cannot keep lawmakers from convening a panel on prime minister's immunity request, which most lawmakers are expected to vote against...[By Jonathan Lis via haaretz.com]
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“Saudi Arabia is paying us for . We have a very good relationship with Saudi Arabia,” Trump said. “I said, listen, you’re a very...[By Peter Wade via rollingstone.com]
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“Jeopardy!” has received a wave of backlash on social media after a contestant answered a question about where Bethlehem was located by saying Palestine and...[via thehill.com]
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