President Joe Biden’s administration has temporarily paused some pending arms sales to U.S. allies in order to review them, a move that is typical for most new incoming administrations, especially if arms sales are announced just hours before the outgoing administration departs.
The global pandemic and its impact on travel is causing the Kingdom to delay its plans to raise financing "potentially worth billions of dollars" for the expansion of Riyadh’s airport, sources told Reuters.
A more optimistic Saudi private sector reacting to the start of the vaccine rollout in the Kingdom is is being credited for positive data seen for Saudi Arabia's economy, Jadwa Investment says in its latest Charbook for the month of January 2021.
Crown Prince Mohammed bin Salman and top Saudi officials have begun receiving their first dose of the Coronavirus vaccine, imported to the Kingdom earlier this month and rolled out on December 17th, according to the Saudi Press Agency.
Saudi Arabia unveiled a new budget for the 2021 year, cutting spending to rein in a fiscal deficit brought on by a lower oil prices in 2020 and adjusting the Kingdom's fiscal strategy to a post-Coronavirus pandemic era.
Saudi-owned Lucid Motors, a forthcoming EV rival to Tesla, announced that it completed the first phase of construction at its factory in Arizona, eying production of up to 400,000 electric cars per year at the facility after future expansions.
Saudi Arabia and Yemen's Iran-backed Houthis are on the cusp of a "breakthrough" nationwide ceasefire agreement, Reuters reports, on the condition that the Houthis agree to an establish a buffer zone between the two countries.
Saudi Arabia's heavy investments to expand natural gas production in recent years is paying off in the form of record production of the fuel, according to Bloomberg, which cited latest figures from Saudi Aramco's third-quarter results released on Tuesday.
