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  • For Oil Markets, ‘Volatility is Back’
     

    Rising optimism around global economic growth coupled with continued OPEC compliance to output targets and rising geopolitical tensions all contributed to pushing Brent oil prices to near 2014 highs, according to a recent report on the oil market by Riyadh-based Jadwa Investment. “Although oil prices were pressured somewhat at the start of April  due to trade tensions […]

     
  • Major Fossil Discovery in Saudi Arabia is 90,000 Years Old
     

    A recently discovered fossil finger bone dating back about 90,000 years that was unearthed in Saudi Arabia’s Nefud Desert is “pointing to what scientists are calling a new understanding of how our species came out of Africa en route to colonizing the world,” Reuters reports. The discovery, the middle bone of an adult’s middle finger, […]

     
  • Trump, King Salman Speak by Phone; Trump Urges End to Qatar Crisis
     

    President Trump and Saudi Arabia’s King Salman spoke by phone yesterday and discussed a number of regional issues, according to a readout of the call and wire reports. On the call, Trump “emphasized the importance of resolving the Gulf dispute and restoring a united Gulf Cooperation Council to counter Iranian malign influence and defeat terrorists and extremists.” The leaders […]

     
  • President Trump Calls King Salman, Urges End to Qatar Dispute
     

    President Trump and Saudi Arabia’s King Salman spoke by phone yesterday and discussed a number of regional issues, according to a readout of the call and wire reports. On the call, Trump “emphasized the importance of resolving the Gulf dispute and restoring a united Gulf Cooperation Council to counter Iranian malign influence and defeat terrorists and […]

     
  • Crown Prince Mohammed bin Salman Attends High-Powered Dinner in Los Angeles with Studio Brass, Stars
     

    Crown Prince Mohammed bin Salman and members of his entourage were welcomed to Hollywood last night with a high-powered dinner hosted by the Entertainment industry’s elite, according to a report in the Hollywood Reporter. An intimate dinner was held at Rupert Murdoch’s estate with Dwayne “The Rock” Johnson, Morgan Freeman, James Cameron, Michael Douglas, Disney CEO […]

     
  • Saudi Leadership Delighted at FTSE Inclusion for Tadawul; Billions Expected in Fresh Inflows
     

    The Saudi Arabian stock market will join FTSE Russell’s emerging market index starting in March next year in a move that will likely bring billions of dollars of fresh investment into the Kingdom, Reuters reports. Saudi Arabia’s Crown Prince Mohammed bin Salman and Finance Minister Mohammed Al-Jadaan met with the Mark Makepeace, chief executive of […]

     
  • Saudi Aramco IPO Delayed Until 2019, Financial Times Reports for Second Time
     

    Saudi Aramco’s long-awaited IPO “could be delayed until 2019 at the earliest,” the Financial Times reported on Sunday, citing British officials briefed on the matter. It is the second time the London-based newspaper was the first to report that the IPO would be delayed. The Financial Times reported the same news in September, but Saudi officials […]

     
  • Saudi Officials, Current and Former, Downplay Oil Demand Concerns
     

    Saudi officials downplayed the risk of waning demand for oil as electric vehicles become more mainstream, according to comments made by Saudi Aramco’s CEO Amin Nasser and by former Minister of Petroleum Ali Al Naimi. According to comments at the CERAWeek by IHS Markit conference on Tuesday reported by Bloomberg, Nasser said he is “not […]

     
  • Soft Opening for New $7.2 Billion Jeddah Airport Set for May
     

    Jeddah’s King Abdulaziz International Airport is set to unveil its long-awaited new look at a soft opening in May, the Jeddah-based Saudi Gazette reports, citing confirmation by the General Authority of Civil Aviation (GACA) and the emir of Mecca. Once recognized by travelers as one of the worst airports in the world, Saudi Arabia’s second largest city is […]

     
  • King Salman Opens Annual Janadriyah Festival as Kingdom Puts Saudi Culture On Display
     

    Saudi Arabia’s King Salman on Wednesday attended the opening ceremony of the Kingdom’s 32nd National Festival for Heritage and Culture, held in Janadriyah village on the northern outskirts of Riyadh.  The annual festival, known as the Janadriyah Festival, is a vibrant display of Saudi cultural traditions and heritage, and lasts 18 days. The festival’s first day saw King […]

     

MUST-READS

  • GCC Ministers Meet in Saudi Arabia, Hold Talks With Russia, BRICS Nations

    Foreign ministers from Gulf Cooperation Council (GCC) member states met in Saudi Arabia on Monday for the council’s 161st ministerial summit and held separate talks with their counterparts from BRICS nations Russia, Brazil, and India. Based in Riyadh, the GCC is a regional political and economic union made up of Gulf monarchies, including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. Russian Foreign Minister Sergey Lavrov attended the summit for the seventh GCC-Russia Joint Ministerial Meeting of Strategic Dialogue.

  • Lower Oil Prices Challenge Saudi Fiscal Policy

    Oil prices have slumped in recent weeks. Brent fell from close to $88 per barrel in early July to $71/bbl in early September. Growing worries about the impact of slower economic growth in China and the United States on the demand for oil have offset the production outage in Libya and periodic concerns about potential supply disruptions from a broadening conflict in the Middle East.

  • Saudi Arabia’s PIF to boost annual spending to $70 billion by 2025

    In its latest report on Saudi Arabia, the International Monetary Fund (IMF) highlighted that the PIF’s investments are set to reach $70 billion by 2025, according to Amin Mati, the IMF’s Mission Chief for Saudi Arabia.

  • Dozens killed, wounded in Israeli strikes on Gaza tent camp

    Israeli strikes tore a huge crater, set tents ablaze and buried Palestinian families alive under sand in a supposedly safe zone of southern Gaza before dawn on Tuesday, killing or wounding scores of people, according to Palestinian officials.  Israel said it had struck a command centre for Hamas fighters whom it said had infiltrated the designated "humanitarian" area in al-Mawasi, a vast camp on sandy soil where the military has told hundreds of thousands of Palestinians to shelter since ordering them out of their homes.

  • Dubai singles splurge on premium dating apps but starve for real romance

    Dubai singles are more willing to pay premium prices for dating app subscriptions than ever before in the hopes of boosting their prospects of finding meaningful relationships, residents told Arabian Business. However, this financial investment comes with a paradox. Despite their willingness to pay for premium dating app subscriptions, these same singles have overwhelmingly expressed a preference for meeting potential partners organically in person to build more authentic connectio

  • Time to retire ‘Arab-Israeli conflict’?

    The experience of the past 11 months has led many experts on the region like myself to reassess that term. Is “Arab-Israeli conflict” an accurate reflection, given that the active participants are no longer just Arabs and Israelis? Should we retire that term for good now that the conflict has widened, drawing in the United States and Iran–and potentially Turkey and others in the coming years?

  • Russia invites Saudi Crown Prince to October BRICS summit

    Russia has invited Saudi Crown Prince, Mohammed Bin Salman, to attend a BRICS summit in the city of Kazan from 22-24, Foreign Minister, Sergei Lavrov, said on Monday. The bloc of developing nations, last year, invited Saudi Arabia, Iran, Ethiopia, Egypt, Argentina and the United Arab Emirates to become members, in a move aimed at accelerating its push to reshuffle a world order it sees as outdated, Reuters reports.

  • Full steam ahead for Saudi Arabia’s aquaculture dream

    The Kingdom decided to introduce aquaculture more than 40 years ago, leading to the establishment of the National Fisheries Center. Since then, the sector has undergone significant development through international partnerships and collaborations, particularly with the Food and Agriculture Organization.

  • Saudi Arabia’s Vision 2030 Projects Reach $1.3 Trillion in Value

    Saudi Arabia has launched $1.3 trillion in real estate and infrastructure projects over the past eight years as part of its plan to diversify the economy away from oil and become a more attractive place to live, work and travel. About $164 billion worth of real estate contracts have been awarded since 2016, when Saudi Crown Prince Mohammed bin Salman unveiled his strategy to wean the country off its dependence on petrodollars and improve the quality of life for locals.

  • Saudi Arabia’s Economic Growth Defies Regional Instability

    The report says that Saudi oil exports are not dependent on the Red Sea, where Iran-backed Houthis have targeted commercial ships, in what they say is in solidarity with Palestinians in Gaza. Likewise, Saudi Arabia’s tourism numbers "remain strong". In general, the IMF painted a rosy picture of Saudi Arabia’s economy, with a strong banking system, growing home ownership and "robust" non-oil economic growth. The report underscores the divergence between Gulf economies and those of poorer states like Egypt, Lebanon and Jordan, whose already weak economies have been battered by Israel’s war.