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  • Saudi Arabia is the World’s Largest Arms Importer, Qatar Third – UK Study
     

    Saudi Arabia is the largest arms importer in the world by total sales amount, with regional rival Qatar surging to third largest importer, according to a data released by the UK’s Ministry of Justice. The report sheds light on the flow of arms, weaponry and military equipment around the world. According to the data, which can be […]

     
  • Recent Economic Data for July 2017 Points to Mixed Picture for Saudi Economy
     

    Growth in Saudi Arabia’s non-oil private sector accelerated in July, albeit at a moderate pace, while the expansion in employment slowed, according to a Reuters report citing a Emirates NBD survey. “The seasonally-adjusted Emirates NBD Saudi Arabia Purchasing Managers’ Index (PMI) rose to 55.7 last month from 54.3 in June. A level above 50 means business is […]

     
  • Demands from Qatar Modified to ‘Six Broad Principles’
     

    Saudi Arabia and 3 Arab nations leading a boycott of Qatar are no longer insisting it comply with a list of 13 specific demands they tabled last month, according to reports. Saudi Arabia, the United Arab Emirates, Bahrain and Egypt told reporters at the United Nations they now wanted it to accept “six broad principles.” […]

     
  • Step Forward for Women in Saudi Arabia as Physical Education Classes for Girls OKed
     

    Saudi public schools will begin offering physical education for girls in the coming academic year, the education ministry announced on Tuesday, in another step forward for women and girls in the Kingdom. The long-awaited reform was announced by Education Minister Ahmed al-Issa on Tuesday. The announcement said that P.E. for girls would start with the […]

     
  • Oversupply in Oil Markets Continues Downward Pressure on Prices
     

    Global oil markets have entered a period of oversupply, putting downward pressure on prices and eliciting calls for the world’s largest producers like Saudi Arabia to act on top of March 2017 OPEC cuts to reduce the glut. Oil prices fell 3 percent on Friday after data showed U.S. production rose last week just as […]

     
  • Response to Qatar Demands Given Two-Day Deadline Extension
     

    Four Arab states lead by Saudi Arabia agreed to extend until late on Tuesday a deadline for Doha to comply with a list of demands, as U.S. President Donald Trump voiced concern to both sides about the dispute, according to Reuters and other reports. Qatar’s foreign minister said via Twitter that the demands “were meant […]

     
  • Saudi Begins Extended Eid Al-Fitr Holiday as Massive Celebrations Planned
     

    An extended Eid Al-Fitr holiday began in Saudi Arabia and most other Arab countries on Sunday, marking the end of the holy fasting month of Ramadan. Kuwait, Qatar and the United Arab Emirates will also start the holiday on Sunday, but Oman starts the holiday on Monday, according to reports. The timing of Eid can vary […]

     
  • Bechtel Appoints Abdulrahman Al-Ghabban as New Country Manager in Saudi Arabia
     

    Bechtel, a global leader in engineering, procurement, and construction, today announced the appointment of Abdulrahman Al-Ghabban as country manager in Saudi Arabia.  Al-Ghabban will lead Bechtel’s business and operations in the Kingdom. Al-Ghabban said “I am honored to be the first Saudi national to hold the position as country manager for one of the most […]

     
  • $1.4b in Defense Contracts Approved by State Department as Senate Eyes Debate
     

    The U.S. State Department has approved the potential sale of more than $1.4 billion worth of military training and equipment for Saudi Arabia, the Pentagon said on Monday, the first fraction of a $110 billion arms deal U.S. President Donald Trump agreed to with Saudi Arabia when he visited in May. The announcement by the State […]

     
  • New Video Shows How Riyadh Metro Will Transform Saudi Capital
     

    Riyadh’s new metro project is already transforming the face of the city, and will change how its citizens get around in the Saudi capital. There is no large-scale public transportation system currently in place in the city, and the city’s traffic situation reflects this reality. A new graphical video released on YouTube by The Business […]

     

MUST-READS

  • Saudi Technology Sector Could See $4bn Surge from GenAI by 2028, Report Says

    An analysis by global consulting firm Strategy& Middle East has showed that Saudi technology sector could witness a surge in operating profit of SR15 billion ($4 billion) by 2028 with the adoption of generative artificial intelligence. The reports states that the Kingdom could achieve a 15 percentage point margin growth if tech companies satisfy the needs of advanced hardware and infrastructure and develop and commercialize new GenAI use cases.

  • A look at municipal services fees for tourist hospitality facilities licenses in KSA

    Saudi Arabia’s Minister of Municipalities and Housing Majed Al Hogail issued a decision to scrap fees for issuing commercial licenses for hotels, hotel apartments, and residential resorts, effective as of Sept. 4. Under the Regulations of Municipal Services Fees, issued on Jan. 14, 2019, fees imposed on issuing licenses for local tourist hospitality facilities are based on the category classification approved by the Saudi Ministry of Tourism. They shall range between a minimum of SAR 10 and a maximum of SAR 250 each, depending on the facility type.

  • Putin Thanks Saudi Prince for U.S.-Russia Prisoner Swap

    Russian President Vladimir Putin thanked Saudi Crown Prince Mohammed bin Salman on Thursday for his role in the historic U.S.-Russia prisoner swap. American journalist Evan Gershkovich and U.S. marine Paul Wheelan returned home after being freed following the largest prison swap between the U.S. and Russia on August 1. Gershkovich and Whelan were accused of espionage by the Kremlin, a charge they and the U.S. government had consistently denied. "Saudi Arabia's Crown Prince played an active role in the initial stages of this work. We are very grateful to him, as it resulted in the return of our citizens to the homeland," Putin said at the Eastern Economic Forum.

  • Activists among 457 prisoners released in Bahrain by royal decree

    Scores of prisoners were released from a Bahrain prison on Thursday following a royal pardon of more than 450 inmates, including activists detained during Shia-led protests more than a decade ago.

  • OPEC+ agrees to delay October oil output hike for two months, sources say

    OPEC+ has agreed to delay a planned oil output increase for October and November after crude prices hit their lowest in nine months, three sources from the producers' group told Reuters on Thursday. Oil prices have been falling along with other asset classes on concerns about a weak global economy and soft data from China, the world's biggest oil importer. "Two months delay," one of the sources said. The three sources declined to be identified by name

  • What went down in August?

    The month began recording the lowest venture funding across all emerging markets in 2024, with no mega deals in sight. August also revealed an in-depth analysis of Africa’s H1 funding figures, highlighting a steep 57% drop compared to last year, marking the region’s most significant decline since 2019. Meanwhile, MENA defied global trends with a notable increase in investor activity, particularly from international backers. The month concluded with insights into investor behavior, spotlighting key players reshaping the venture landscape in the UAE and Saudi Arabia.

  • Family offices now rival hedge funds as a way for the ultra-rich to hoard their wealth

    The number of ultra-wealthy individuals and families continues to increase. Today the amount of wealth held by family offices is an estimated $5.5 trillion, which is already a stark increase from $3.3 trillion in 2019. According to Deloitte projections, the wealth held by family offices will increase by 189% by 2030.

  • Saudi: Barq signs deal with Mastercard for payment solutions

    The agreement will see barq leverage Mastercard Gateway technology to further equip its merchants and consumers around the kingdom with greater access to a wide range of value-added services — responsive, personalised solutions that cater to their unique needs and preferences.

  • Saudi Arabia leads international bond issuance

    Saudi Arabia, the Middle East’s largest economy despite a 0.8 percent decline in real GDP last year, sold $26.8 billion of international bonds from January 1 to August 27 2024, inclusive. Poland was second among emerging markets with $18 billion and the UAE was third with $12 billion, data from London Stock Exchange Group shows. The data refers to “international” bonds, or those sold to foreign investors.

  • Who moved to Saudi Arabia this summer – and what it reveals about the Pro League

    While 2023 will be remembered as the year Cristiano Ronaldo (Al Nassr), Neymar (Al Hilal), Karim Benzema (Al Ittihad) and Jordan Henderson (Al Ettifaq; he terminated his contract in January and joined Ajax) left Europe for lucrative contracts in the Saudi Pro League, the transfer outlay in 2024 has been less extravagant, with total spending coming in at around $250m (£190m).