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Saudi Arabia’s PIF Significantly Increases Investments in U.S. Markets, Wins Big on Live Nation
Saudi Arabia’s Public Investment Fund (PIF) significantly increased its holdings and investments into U.S. companies in the fourth quarter (Q4) of last year, public filings made public last week show, after slashing its exposure in Q3. The PIF’s total investments in the U.S. market reached $12.8 billion in the fourth quarter last year, up from $7 billion […]
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Dazzling Designs Revealed for a ‘Coral Bloom’ Concept at Saudi Arabia’s Red Sea Project’s Main Hub Island at Shurayrah
Saudi Arabia this week unveiled a new, visionary design and plans for the Red Sea project’s main hub island at Shurayrah, a “Coral Bloom” concept created by world-renowned architecture firm Foster + Partners.
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Johnson Favored as Saudi Arabia Gears Up for 3rd Saudi Invitational; Nicklaus Agrees to Design New Course at Qiddiyah
Saudi Arabia’s flagship annual golf tournament begins Thursday with world number one golfer Dustin Johnson as the favorite to win at the Royal Greens Golf Club in King Abdullah Economic City, Saudi Arabia. The Saudi Invitational, presented by the Public Investment Fund offers a purse of €3,019,002 ($3,630,712.19), with the strongest-yet field of 138 players set to compete. 12 Major […]
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In ‘Routine’ Action, New Biden Administration to Review Some Arms Sales from Previous Administration to Saudi Arabia, UAE
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.
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First American Chamber of Commerce Established in Riyadh; ABGR Becomes AmCham KSA
The American Business Group of Riyadh (ABGR) has formally become part of the global network of the American Chambers of Commerce with the announcement that the group will now be known as the American Chamber of Commerce in Saudi Arabia (AmCham KSA), the first such establishment of its kind in the Kingdom.
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Saudi Arabia Postpones Riyadh Airport Expansion Financing after Pandemic
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.
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Positive Economic Data Seen in Latest Saudi Chartbook for January 2021 – Jadwa Investment
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. Saudi Arabia’s non-oil PMI saw a significant monthly rise in November, the latest data available and reported […]
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Crown Prince Mohammed bin Salman, Other Top Saudi Officials Get Vaccinated Against Coronavirus
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. Wearing a black thobe with his left arm bare to receive the shot, the Crown Prince made a point to ensure […]
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Saudi Arabia Unveils 2021 Fiscal Budget with Spending Reductions, Eying Economic Rebound
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.
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Saudi-Owned Lucid Motors Completes Phase 1 of Arizona Factory Build, Eyes 2021 Production
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. Lucid completed the first phase of construction of its factory in Casa Grande, Arizona, and is aiming to start […]
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Delta Air Lines and Saudia Airlines enter into new codeshare agreement
As further evidence of the importance of US carriers establishing and expanding travel options to the Middle East, Atlanta-based Delta Air Lines has announced the signing of a new codeshare agreement with Saudia Airlines, the national carrier of the Kingdom of Saudi Arabia. The agreement, which remains subject to regulatory approval, builds on the existing interline agreement between the two companies.
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Together Iran and Israel are destroying Biden’s Middle East policy
Ironically, the principal threat to this US imperative has come from Israel rather than Iran. In the week following the October 7 attacks, Israeli Defence Minister Yoav Gallant began pressing for a major offensive against Hezbollah. Mr Biden pressured Israeli Prime Minister Benjamin Netanyahu to reject these demands and focus on Hamas. A similar scenario was repeated at least twice.
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Architecture in the First Saudi State
Architecture in the First Saudi State is the architectural designs in the provinces of the First Saudi State, founded by Imam Mohammed Bin Saud in 1727, with ad-Dir'iyyah as its capital, preserved a unique character. This architectural style reflects the societal bonds of the Saudi State. The architecture of that period was characterized by its durability and distinctive external lines, utilizing materials such as mud, adobe, stones, wood, tamarisk, and palm trunks in houses, as well as beams of forts and castles.
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Saudi Arabia updates regulations for temporary work visas for Hajj and Umrah services
These changes, approved by the Saudi Cabinet in its session on Tuesday, will aim to provide more flexibility for the private sector, allowing businesses to better align visa needs with labor market demands and contribute to creating a more attractive work environment, SPA added. One of the updates is the renaming of the seasonal work visa to the “temporary work visa for Hajj and Umrah services,” and extending the grace period for these visas from Shaban 15 until the end of Muharram (around Feb. 14 to July 25).
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Palestinian Life in the West Bank, East Jerusalem After Oct. 7
For the past decade, Palestinians living in the West Bank and East Jerusalem have rated their lives between 5.0 and 5.5 out of 10. In 2023, in the weeks before Oct. 7, they rated their lives at a 5.5, which is as positive as they have been since Gallup began measuring life evaluations there in 2006. Today, almost a year later, Palestinians’ evaluations of their current lives have dropped by nearly 1 point to 4.6, the lowest average in almost two decades.
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517 int’l companies licensed to open regional HQs in Saudi Arabia
As many as 517 international companies were so far granted licenses to open their regional headquarters (HQs) in Saudi Arabia, Ministry of Investment said in its 2025 pre-budget statement. This came thanks to the efforts made under the National Investment Strategy (NIS), the minister noted. This surpassed the target to have regional HQs of 500 international companies by 2030, it further stated.
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First Look At Neom-Shot 1990s-Set Saudi Bedouin Drama ‘Hobal’
Saudi director Abdulaziz Alshlahei’s upcoming feature Hobal, about a Bedouin family living in isolation in the desert because its patriarch believes the end of the world is near, has unveiled first look images. The drama is Alshlahei’s third feature and collaboration with writer Mufarrij Almajfel after Zero Distance and The Tambour of Retribution which was Saudi Arabia’s Best International Feature Film Entry for the 94th Academy Awards in 2021.
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Saudi Arabia’s FM calls on world to publicly support Palestinian statehood
The Global Alliance for the Implementation of the two-state solution was unveiled during Prince Faisal bin Farhan’s speech at a meeting on the sidelines of last week’s UN General Assembly in New York that included the Arab League, the Organization of Islamic Cooperation (OIC) and Norway. “Self-determination is an inalienable right that the Palestinian people not only deserve but are entitled to. Our diplomats have worked tirelessly alongside others to secure recognition of Palestine as a sovereign state globally,” Prince Faisal wrote in the op-ed.
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Saudi poultry producer gets nod to sell 30% stake in IPO
Arabian Company for Agricultural and Industrial Investment (Entaj), a Riyadh-based poultry producer, has received the green light from the Saudi market regulator to list shares on the main market (Tasi). The company will float 9 million shares through an initial public offering (IPO), representing 30 percent of the total issued share capital.
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PGA Tour commissioner and Saudi fund governor paired at pro-am event in Scotland
Three weeks after PGA Tour commissioner Jay Monahan met with Saudi Arabia’s financial backer of LIV Golf, they will be together again this week in Scotland, this time inside the ropes. Monahan and Yasir Al-Rumayyan, the governor of the Public Investment Fund that supports the PGA Tour’s rival league, are playing together in the Dunhill Links Championship on the European tour. The tournament starts Thursday.
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