QUOTED

Quoted

“We just came back from a very important trip to the Kingdom of Saudi Arabia. It was the first such trip we have had to the kingdom and we feel it was very productive. Very encouraging…We had an open dialogue. We met with high-level officials and raised our concerns, they raised their concerns, and we firmly believe that this a step in a long and productive relationship.”

-Arthur Stark, Chairman of the Conference of Presidents of Major American Jewish Organizations, speaking about a recent visit group leaders made to Saudi Arabia. The visit, which took place from Monday to Thursday, included meetings with senior Saudi officials. [timesofisrael.com]

TOP STORY

Princess Reema bint Bandar Gives First Interview to Arab Newspaper as Ambassador: ‘Saudi Arabia is Washington’s Closest Partner in Region’

princess-reema

Princess Reema bint Bandar gave her first interview with an Arab newspaper since assuming her position in Washington, telling Asharq Alawsat that Saudi Arabia is Washington’s closest partner in the region and that the strategic Saudi-American partnership is not affected by which party the president of the White House belongs to. [more]

 

TOP STORY

Saudi Arabia and Kuwait Agree to Resume Oil Production from Neutral Zone Fields

Domestic energy subsidies may be targeted by Saudi authorities.

Saudi Arabia and Kuwait will resume joint production at two oilfields from a shared neutral zone between the countries, according to Bloomberg, ending a five-year dispute that sidelined production from the area. [more]

 

TOP STORY

Will Saudi Arabia soon be an exporter of gas?

Saudi Arabia plans to start exporting gas and will soon make a major announcement on the topic, the country’s energy minister said. [more]

 

MORE TOP STORYLINES

Saudi Arabia fiscal deficit could be 7.4% in 2020, 8.1% in 2021

Via Saeed Azhar in reuters.com : The fiscal deficits of Gulf Arab states, which includes Saudi Arabia, will rise next year because of expected higher spending and lower oil prices, S&P analyst Zahabia Gupta said in Dubai.

Ivanka Trump lauds Saudi, UAE on womens rights reforms

Via Aya Batrawy in go.com : Ivanka Trump has praised Saudi Arabia, the United Arab Emirates and a handful of other Mideast countries for embarking on “significant reforms” to advance womens rights at a gathering of women entrepreneurs and regional leaders in Dubai.

Saudi Arabia’s Al Ula forecasted to generate 67,000 jobs

in hoteliermiddleeast.com : Located 1,100km from Riyadh in north-west Saudi Arabia, Al Ula comprises an oasis valley, sandstone mountains and ancient cultural heritage sites dating back thousands of years.

 

MORE ON THE KINGDOM AND BEYOND

Saudi Arabia and Japan to collaborate on digital economy growth, technology innovation

Saudi Arabia’s Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Swaha recently held a meeting in Jeddah with Taro Kono, Japanese minister...[By Elias Al Helou via economysaudiarabia.com]

 

Saudi real GDP likely to grow 2.2% in 2024: S&P Global

S&P Global Ratings expects the real GDP of Saudi Arabia to grow by 2.2% in 2024, before rising further by 5% in 2025.   In its latest...[via argaam.com]

 

Saudi Arabia’s non-oil revenues rise 9 percent to $29.73 billion in Q1 2024: MoF

Saudi Arabia’s non-oil revenues saw a 9 percent increase to SAR111.512 billion ($29.73 billion) in the first quarter of 2024, compared to Q1 of 2023,...[By Yara Abi Farraj via economymiddleeast.com]

 

Saudi Arabia sees Pakistan as high priority opportunity, believes in its economic potential: Almubarak

Almubarak made the remarks at the two-day Pakistan Saudi Arabia Investment Conference, which began in Islamabad today, after arriving in the capital the previous night...[via dawn.com]

 

Kingdom of Saudi Arabia and United Kingdom Conclude High-Level Strategic Dialogue on International Development and Humanitarian Assistance

The Kingdom of Saudi Arabia, represented by the King Salman Humanitarian Aid and Relief Centre (KSrelief) and the United Kingdom successfully concluded their Strategic Dialogue...[via reliefweb.int]

 

Saudi Arabia’s Donia Abu Taleb set to make historic step for women at Paris Olympics 

Donia Abu Taleb took an historic step for Saudi women when she earned direct qualification for the taekwondo competition at the Paris Olympics and is...[via alarabiya.net]

 

Opinion: A U.S. Deal Could Make Saudi Arabia the Next Egypt

Will they, or won’t they? That is the question that the Middle East-watching world has been asking for the past few weeks. Will the United...[via foreignpolicy.com]

 

Exclusive: Shell in talks to sell Malaysia fuel stations to Saudi Aramco, sources say

Energy giant Shell is in talks with Saudi Arabia's state-owned Saudi Aramco to sell its gas station business in Malaysia, the second-largest such network in...[via reuters.com]

 

Saudi Aramco maintains $31 billion dividend despite lower Q1 net income

Saudi Arabia's state oil giant Aramco (2222.SE), opens new tab expects to pay $31 billion in dividends to the Saudi government and its shareholders despite...[By Hadeel Al Sayegh via reuters.com]

 

Saudi Arabia readies six airports to receive Hajj 2024 pilgrims

Saudi civil aviation authorities said they have designated six main airports for receiving Muslims, who will attend next month’s annual Hajj pilgrimage. They are King Abdulaziz...[By Ramadan Al Sherbini via gulfnews.com]

 

Alipay+ expands to Saudi Arabia. Good news for luxury?

Chinese fintech giant Ant Group is aggressively expanding abroad, with its eyes now on Saudi Arabia. Singapore-based Ant International, which extends the group’s innovative fintech solutions...[By Julienna Law via jingdaily.com]

 

Saudi Arabia AI development head reveals they will divest from China if US steps up and asks them to

Amit Midha, CEO of Alat, Saudi Arabia’s new investment fund for semiconductor and artificial intelligence technology, stated that the country would divest from China if...[via firstpost.com]

 

Expat remittances surge in Saudi Arabia, hit two-year high

Monthly remittances of expatriates in Saudi Arabia reached SR11.9 billion in March, marking their highest in nearly two years, according to official figures. The remittances in...[via gulfnews.com]

 

When is Eid al-Adha? And when will Hajj 2024 begin? All you need to know

The Muslim world is gearing to celebrate Eid al-Adha this year on or around Sunday June 16, according to various astronomical calculations. The date, however, can...[By Ghinwa Obeid via alarabiya.net]

 

Saudi Arabia announces stringent penalties for unauthorised Hajj pilgrims

Saudi Arabia has announced stringent penalties against individuals attempting to perform the annual Islamic Hajj pilgrimage without an official permit. The Ministry of Interior said that...[via gulfnews.com]

 

Riyadh Air Strengthens Partnership with Saudi Tourism Authority to Promote Sector

Riyadh Air, which is owned by the Public Investment Fund, concluded a memorandum of understanding with the Saudi Tourism Authority (STA) to boost joint cooperation...[via aawsat.com]

 

No let up in Taliban attacks, fresh orders awaited over deal with U.S.

Last week, a senior U.S. administration official said negotiations with Taliban representatives in Qatar had resulted in and agreement in principle for a week-long reduction...[By Abdul Qadir Sediqi and Jibran Ahmed via reuters.com]

 

EU split over naval mission amid Libya arms embargo concerns

A number of European Union countries are still blocking any move to resume a naval operation in the Mediterranean Sea over concerns that it might...[By Kirsten Grieshaber and Frank Jordans via apnews.com]

 

UN: Warring parties in Yemen agree on major prisoner trade

Abdul-Qader al-Murtaza, a rebel official in charge of prisoners’ affairs, said in a tweet that the first phase of the deal includes the release of...[By Samy Magdy via apnews.com]

 

Syrian refugees in desperate race to outrun regime offensive

In the last two months, more than 832,000 people have fled the last opposition-held territory in Syria in the wake of a relentless air campaign...[By Gul Tuysuz, Arwa Damon and Brice Laine via cnn.com]

 

Khamenei loyalists may tighten grip at Iran elections

Allies of Supreme Leader Ayatollah Ali Khamenei have ensured hardliners dominate the field, removing moderates and leading conservatives and permitting voters a choice mostly between...[By Parisa Hafezi via reuters.com]

 

Taliban Truce With U.S.: Congress Needs to See the Details

In the last year, Congress has begun to claw back its constitutional power to declare war. A possible U.S. truce with the Taliban will show...[By Eli Lake ]

 

Global Oil Markets

Oil Set for Biggest Weekly Gain in 5 Months as Virus Fear Eases

After several weeks of falling crude prices, Chinese refiners are now snapping up cheap cargoes, taking many traders by surprise. That follows the World Health...[By Alex Longley and Grant Smith via bloomberg.com]

 

Commentary: OPEC Underestimates China Virus’s Impact On Oil Demand

A comparison of the latest forecasts from the world’s three big oil agencies — the International Energy Agency, the U.S. Energy Information Administration and the Organization of Petroleum...[By Julian Lee via bloomberg.com]

 

Death of AQAP Leader Shows the Group’s Fragmentation—and Durability

But one should not overplay Raimi’s status. The group fragmented and weakened under his leadership, and he never quite managed to fill the shoes of...[By Elisabeth Kendall via washingtoninstitute.org]

 

Oman Sees Prospects of Talks Between Iran and U.S.

“We are in touch with the U.S. and Iran,” Yousef Bin Alawi, Oman’s foreign minister, was cited as saying on Sunday by the state-run Oman...[By Golnar Motevalli and Abbas Al Lawati via bloomberg.com]

 

Qatar delays partnerships for natural gas expansion amid price collapse

Qatar has delayed choosing Western partners for the world’s largest liquefied natural gas (LNG) project by several months after surprising the industry with a big...[By Eric Knecht via reuters.com]

 

Has the coronavirus affected the Middle East’s construction sector?

Logistics have been impacted and factory output has been reduced. It has meant material and equipment suppliers have been unable to meet their obligations. This...[By Ashley Williams and Haroon Niazi via constructionweekonline.com]

 

Lebanon

Lebanon weighs defaulting Eurobond next month

Lebanon’s finance minister said Thursday that its new government is weighing whether to pay or default on its $1.2 billion Eurobond maturing next month, amid...[via arabnews.com]

 
 

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