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  • Saudi, UAE, Kuwait to Support Bahrain Economy after Downturn
     

    Saudi Arabia, Kuwait and the United Arab Emirates will soon announce an “integrated program” to support Bahrain’s economic reforms and its fiscal stability, Reuters reports, citing a joint statement from the three Gulf states on Tuesday. Like other oil producing nations whose state finances are closely tied to oil prices, Bahrain’s economy was hit hard […]

     
  • The Race is On for Ride Sharing Apps in Saudi Arabia to Hire Saudi Women ‘Captinahs’
     

    As Saudi women settle into the driver’s seat, ride-sharing apps like Uber and Careem are gearing up for a race to hire women, according to reports. Careem — the Middle East’s answer to Uber — is recruiting Saudi women to take the wheel and has received over 2,000 applications since announcing it would recruit so-called […]

     
  • Saudi Digital Media Startup Raises $9 Million Series A Round with 20m Subscribers
     

    A Saudi Arabia-based digital media company raised $9 million in a Series A round of funding, according to reports. Telfaz11, with over 20 million subscribers on their network, and reporting more than 2 billion views on YouTube, is a leading Arabic Multi-Channel Network (MCN) which seeks to change the face of home-grown online entertainment. “As a pre-eminent […]

     
  • Saudi, Russia Say Oil Supply to Increase in ‘Near Future’ as Consumers Eye Increasing Prices
     

    Saudi Minister of Energy Khalid Al-Falih said OPEC and other producers are likely to gradually revive oil output in the second half of the year to ease consumer anxiety as prices trade near $80 a barrel, according to reports. The action would be a reverse of course from previous OPEC and non-OPEC producers’ decision two years […]

     
  • Saudi Crown Prince Mohammed bin Salman in Top 10 World’s Most Powerful People
     

    Saudi Arabia’s Crown Prince Mohammed bin Salman has landed on the Forbes list of the world’s most powerful people for the first time, ranking the powerful young leader within the top 10. “There are 17 new names on the list this year, including Mohammed Bin Salman Al Saud (#8), the Crown Prince of Saudi Arabia,” Forbes writes. “His […]

     
  • Saudi Arabia Applauds Trump Decision on Iran Nuclear Deal
     

    Saudi Arabia has embraced President Trump’s decision yesterday to pull the United States out of the JCPoA, the agreement to curb Iran’s nuclear ambitions by offering sanctions relief in exchange for Iran’s compliance with non-proliferation standards, according to statements made by top Saudi officials and the Saudi Press Agency. As the chief rival of Iran in […]

     
  • 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 […]

     

MUST-READS

  • Saudi Arabia’s cultural renaissance under spotlight at Riyadh forum

    A five-day cultural forum organized by Fenaa Alawwal in Riyadh’s Diplomatic Quarter, and co-curated by Afikra, is exploring the theme “Introspection: the role of contemporary art practices in a time of change.” The inaugural Muntada Forum of Contemporary Art Practices opened on Sunday night and will have five panel discussions during its run until Sept. 19. There are 24 creatives exploring a diverse range of topics, which includes the role of Saudi Arabia’s artists in shaping the Kingdom’s global image.

  • Aramco’s New Deals With China Signal A Further Deepening Of Sino-Saudi Relations

    The genesis of the broader and deeper relationship between Saudi Arabia and China was not the establishment of diplomatic relations between the two countries on 21 July 1990. Rather, it was more likely the offer made by China to buy the entire 5 percent in a private placement of Saudi Aramco that was being touted for sale in an initial public offering (IPO) from late-2016/early-2017, according to several industry sources.

  • Saudi Red Sea Authority’s first regulations for Saudi yachts

    In line with SRSA's mandate to promote coastal tourism, the regulation specifies the criteria for obtaining technical licenses for leisure tourism, as well as requirements for yacht owners and authorised tourism maritime agents. Yacht chartering licenses are another critical element, with stipulations that a licensed maritime agent or yacht management company must oversee charters, alongside strict guidelines on safety, contracts, and marina access.

  • SMEs account for 90% of Saudi industrial sector: Minister

    The industrial base in most countries consists of small and medium-sized enterprises (SMEs), Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef said during an interview at Monsha'at Support Council in Riyadh. He added that SMEs dominate 90% of the industrial sector in Saudi Arabia.

  • Chip Startup Groq Backs Saudi AI Ambitions With Aramco Deal

    Artificial intelligence startup Groq Inc. has partnered with oil producer Aramco to build a giant data center in Saudi Arabia that it hopes will become a hub for companies running AI systems across the Middle East, Africa and India. The data center will be up and running by the end of this year, and could later expand to include a total of 200,000 language processing units, Ross said

  • Goldman Sachs, Citigroup cut China’s 2024 growth forecast to 4.7%

    Goldman Sachs and Citigroup have lowered their full-year projections for China's economic growth to 4.7%, after the world's second-largest economy's industrial output slowed to a five-month low in August. Weak economic activity in August has ramped up attention on China's slow economic recovery and highlighted the need for further stimulus measures to shore up demand. The faltering growth has prompted global brokerages to scale back their 2024 projections to below government's target of around 5%.

  • 3-month midday outdoor work ban comes to an end in Saudi Arabia

    The rate of compliance of establishments with the decision to ban work under direct sunlight this year reached 94.6 percent, according to the ministry sources. During the implementation period, the ministry, in coordination with the National Council for Occupational Safety and Health, instructed employers to organize working hours and adhere to the provisions of the decision to reduce occupational injuries and diseases.

  • Alcoa to Get $1.1 Billion for Stakes in Saudi Aluminum Plants

    Alcoa Corp. will receive $1.1 billion in cash and stock in Saudi Arabian Mining Co. as part of a deal that will involve the Pittsburgh-based firm selling its stake in two metals plants in northern Saudi Arabia.  Maaden, as the Saudi firm is known, signed a deal with Alcoa to purchase its holdings in a bauxite facility and an aluminum smelter for 563 million riyals ($150 million) in cash and 3.6 billion riyals of stock in the Riyadh-based miner, according to a statement Sunday.

  • Saudi Arabia’s inflation rate inches up to 1.6% in August

    Saudi Arabia's annual inflation rate inched up to 1.6% in August, from 1.5% in July, government data showed on Sunday, driven by an increase in housing rents and food prices. Housing rents rose by 10.7% in August, weighing on the overall rise in prices of housing, water, electricity, gas, and other fuels by 8.9%, according to the General Authority for Statistics. The inflation rate had held steady at 1.5% in June and July, underpinned mostly by apartment rents.

  • Saudi Arabia presents space advances at G20 meeting in Brazil

    Saudi Space Agency Vice Chairman and CEO Mohammed Al-Tamimi led the Saudi delegation at the fifth G20 Space Economy Leaders Meeting in Foz do Iguacu, Brazil, from Sept. 11 to 13. This year’s meeting, initiated during Saudi Arabia’s G20 presidency, focused on “Space Economy and Climate Change: Challenges and Opportunities.” Al-Tamimi highlighted Saudi Arabia’s advances in its space sector and the Kingdom’s commitment to using space technology for sustainable development and climate change mitigation.