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  • Investors, Analysts with Mixed Interpretations After Wild Weekend in Saudi Arabia
     

    Investors and analysts are mixed in their reactions after a wild weekend for Saudi Arabia that put the Kingdom into the international spotlight. Within the span of just days, Saudi Arabia said it shot down a missile that nearly hit Riyadh’s international airport, launched a new corruption body that immediately arrested some of Saudi Arabia’s wealthiest international businessmen and […]

     
  • Saudi Arabia will Introduce Tourist Visas ‘Soon’, Tourism Authority Head Confirms
     

    Saudi Arabia plans to start issuing tourist visas “soon,” Prince Sultan bin Salman bin Abdul Aziz, head of the Saudi tourism authority, said in a statement according to several reports. Prince Sultan did not give an exact time frame. The Kingdom issues separate visas for the millions of pilgrims that visit Saudi Arabia each year for […]

     
  • KAPSARC’s New Headquarters Near Riyadh, Designed by Zaha Hadid Architects, Receives LEED Platinum Status
     

    The futuristic-looking new headquarters of the King Abdullah Petroleum Studies and Research Centre (KAPSARC) on the outskirts of Riyadh has received LEED Platinum certification—the first of Zaha Hadid Architects’ projects to receive the title. KAPSARC is a non-profit dedicated to studying energy and their environmental impacts. The new 230,000 square-foot campus comprises five buildings and cuts a striking figure against […]

     
  • Saudi Arabia Allows Foreign Investors into Local IPOs, Hopes to List Aramco on Tadawul
     

    Foreign investors are now able to participate in initial public offerings (IPO) on companies listed on the Nomu (parallel) market in Saudi Arabia, according to reports based on comments from Saudi Arabia’s Capital Market Authority (CMA) chairman Mohammed El Kuwaiz. El Kuwaiz said Thursday that foreign investors can take part in company flotations when asked about the […]

     
  • Over 87,000 Business Licenses Issued to Saudi Arabia this Year – Report
     

    Saudi Arabia’s Ministry of Commerce and Investment issued over 87,000 business licenses to women in the last year as the Kingdom looks to increase female integration into the Saudi economy. The Ministry said it issued 87,575 commercial registrations for women “for businesses in various fields, including trade, manufacturing, communications, information technology, real estate, cleaning, tourism, restaurants […]

     
  • Saudi Economy Contracts as Production Cuts, Reforms Begin
     

    Saudi Arabia’s economy contracted by 1.03 percent in the second quarter of this year following a 0.5-percent contraction in the first quarter, according to reports, as participation in the OPEC oil production cut and disappointing growth in non-oil industries weighed on the economy. While the contraction in the economy is to be expected as OPEC and Russia seek […]

     
  • Saudi-based Restaurant Management Startup Raises $4m
     

    A restaurant management startup in Saudi Arabia has raised a $4m Series A investment as the Kingdom sees signs of life for new small and medium-sized enterprises (SMEs). Foodics, which is a Saudi-based company, offers an all-in-one iPad-based point of sale and restaurant management system. Foodics raised its venture funding from Saudi VC firms Raed […]

     
  • Saudi Arabia’s ‘Third Rail’ No More? Kingdom Eyes Ambitious Energy Subsidies Cuts By November 2017, Report Says
     

    Energy subsidies have long been a significant drag on the Saudi economy on numerous fronts, but as Vision 2030 reforms move ahead, Saudi Arabia is reportedly eyeing further cuts to its domestic energy subsidy program, long a third rail for Saudi domestic politics. According to a Bloomberg report, the government will aim to phase out “subsidies for gasoline and jet […]

     
  • ‘Shale Oil 2.0’: Uptick in Oil Prices Entices Shale Producers, but ‘Bumps in the Road’ Persist — Jadwa Investment
     

    The recently observed uptick in oil prices has given many US shale oil producers the opportunity to expand production, Riyadh-based Jadwa Investment said in a research note on shale production. “Latest forecasts from the Energy Information Administration (EIA) see US oil production rising by 10 percent year-on-year in 2017, and 3.3 percent in 2018. Alongside the […]

     
  • Saudi Arabia Secures Spot in 2018 World Cup in Russia
     

    Saudi Arabia has secured a trip to compete in the next World Cup in 2018 after defeating Japan 1-0 in their last AFC Round 3 Group B match on Tuesday. The World Cup in 2018 is being hosted by Russia, and matches will be played in cities across the country. According to FIFA, Saudi Arabia finished […]

     

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