QUOTED

Quoted

“I did not know at the time that I would be the first woman to serve as the US consul general in Dhahran. I really wanted to learn about energy! I was lucky enough to meet people from the very first moment I arrived. I have always made an effort to get to meet people at different occasions. Saudis have welcomed me into their homes, shared meals and traditions with me. I really have the best job in the best place at the best time.”

-Rachna Korhonen, the US consul general in Dhahran, in an interview with Arab News. [arabnews.com]

TOP STORY

Saudi Cabinet Shakeup Places Khalid Al-Falih in Charge of New Investment Ministry

Khalid Al-Falih is Saudi Arabia's new Investment Minister, heading a new ministry that used to be SAGIA.

Saudi Arabia has shaken up its government investment bodies with a major change to SAGIA, the Saudi Arabian General Investment Authority, making the body a full ministry and replacing former Governor Ibrahim Al-Omar with former Saudi Aramco head Khalid Al-Falih, the King revealed in a series of royal decrees.

In three separate royal orders, Eng. Ibrahim bin Abdulrahman Al-Omar of was relieved of his post as Governor of the Saudi Arabian General Investment Authority. SAGIA is now transformed into a ministry with the name of Ministry of Investment, and Khalid bin Abdulaziz Al-Falih is now the new Minister of Investment. [more]

 

MORE TOP STORYLINES

Saudi Fund of Funds Bets $1.07 Billion on Small, Local Firms

Via Robert Mogielnicki in agsiw.org : In an interview, Ateeq suggested that underdeveloped private equity and venture capital funds in Saudi Arabia and the broader Gulf create a need for Jada to serve as an “anchor institutional investor.” Jada’s website currently lists six investment partners: Arzan Venture Capital, BECO, 500 Startups, global.ventures, Ra’ed Ventures, and Vision Ventures.

Saudi Aramco launches largest shale gas development outside U.S.

Via Rania El Gamal and Simon Webb in reuters.com:  The Jufarah field is near the Gulf coast, so has relatively easy access to seawater, which will have to be lightly treated before using in fracking, Nasser said. It is also close to the world’s largest oilfield, Ghawar, so has easy access to existing energy infrastructure. Aramco has also identified local sand that can be used for fracking.

Saudi Jobseekers Move Into Uber Gear For Extra Cash

Via Haitham El-Tabei in gulfnews.com via AFP : The companys spokesman says it is available in 20 cities in the kingdom and that more than 200,000 Saudis have driven for the app-based business since it launched in 2014. I work for seven hours a day, five days a week, and make an average of 6,000 riyals per month from Uber, said Ahmed, adding the second job had helped ease his financial burden.

 

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