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IMF Sees Continued Recovery for Saudi Economy with Real GDP Growth at 2.1% in 2021
The IMF projected real GDP growth for the Saudi economy at 2.1% in 2021 and 4.8 % in 2022 (compared to a contraction of -4.1 % in 2020), according to a statement issued at the conclusion of the IMF staff mission for the Kingdom 2021 Article IV.
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‘Rapid Radical Reduction’ in Solar PV Price a Massive Opportunity for Saudi Renewables
A significant and unforeseen drop in the cost to produce solar energy in recent years may enable Saudi Arabia to turbocharge its ambitions to diversify its economy and free up more oil for exports, as the Kingdom continues ahead with the development of several solar installations.
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Second Round of Saudi-Iran Talks Planned, Sources Tell Reuters; Both Sides Mum
Saudi and Iranian officials plan further direct talks this month, unnamed sources told Reuters, with the aim of easing tensions between the Middle East arch-rivals in a significant move for regional stability.
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Could Saudi Arabia’s Recycling Sector Be Worth More than $18bn?
The CEO of Saudi Arabia’s biggest waste company, Saudi Investment Recycling Company (SIRC), said that the Kingdom’s recycling market size could reach $18 billion as the sector remains underdeveloped, according to a report Arab News.
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Saudi Crown Prince Announces Two Massive Green Initiatives to Fight Climate Change
Saudi Arabia’s Crown Prince Mohammed bin Salman launched two initiatives over the weekend to make Saudi Arabia a significant contributor in the global fight against climate change, the Saudi Press Agency reports.
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Yemen’s Iran-Backed Houthis Launch Another Drone Attack on Saudi Aramco Facilities in Riyadh
Yemen’s Iran-aligned Houthi group on Friday said it conducted yet another attack on a Saudi Aramco facility in Riyadh, in an attack comprising six armed drones, Reuters and the Saudi Press Agency report.
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Stephen D. Bechtel Jr., Grandson of Company’s Founder, Dies at Age 95
Stephen D. Bechtel Jr., who expanded the global reach of Bechtel as chief executive from 1960 to 1990, died Monday at his home in San Francisco, the company announced. He was 95.
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‘New Launching-Off Point’ for U.S.-Saudi Ties: U.S. Imposes Sanctions, Visa Bans on Saudis for Khashoggi Killing, but Crown Prince Not Sanctioned
The Biden administration announced sanctions and visa bans on Friday targeting Saudi Arabian citizens over the 2018 killing of journalist Jamal Khashoggi, but stopped short of imposing sanctions on Crown Prince Mohammed bin Salman himself, Reuters reports. A senior Biden administration official, speaking on condition of anonymity to Reuters, said the approach aims to create […]
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After Steady Rise in Oil Prices, Saudi Arabia Plans Production Increase – Report
Saudi Arabia, the world’s largest oil producer, plans to increase oil output in the coming months as a nearly year-long recovery in oil prices is giving the Kingdom confidence that the market has improved enough to reverse a recent big production cut, the Wall Street Journal reports.
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World #1 Dustin Johnson Handily Wins the Saudi Arabia’s Third Saudi International Golf Tournament at Royal Greens
The world’s number one golfer, Dustin Johnson, handily held off some of the sport’s biggest names making last minute pushes to claim the Saudi International golf title at the Royal Greens Golf and Country Club.
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MUST-READS
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Does Climate Change Cause More War? A New Paper Raises Doubts
A new paper questions the growing body of evidence that weather fluctuations can prompt wars, but researchers have doubts about its value.
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Want to be a female soldier in Saudi Arabia’s military? Here are the rules
The Saudi Arabian Interior Ministry’s General Security division has started accepting applications of women interested in joining the military as soldiers.
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Editorial: Will the U.S. Help the Saudis Get a Nuclear Weapon?
The last thing the Middle East needs is another country with the potential to build nuclear weapons. Yet that could happen if the United States mishandles Saudi Arabia’s plans to enter the nuclear power business and erect as many as 16 nuclear reactors for electricity generation over 25 years.
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Photos: The world’s tallest future skyscraper?
Kingdom Holding Company, the development firm behind Jeddah Economic City, is billing it as a city of the future. Designed by HOK Architects, the city will host energy efficient homes, shops, a transit system, and offices.
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All aboard the Saudi equities train?
The MENA region witnessed record inflows in January 2018: $1.1billion, mainly led by Saudi Arabia at $619 million, followed by Egypt at $219 million and the UAE at $185 million. This is the second highest monthly inflow recorded since 2009, after an inflow of $1.25 billion received in May 2014.
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Who Created These Strange, Ancient Sculptures Hidden in the Saudi Desert?
The large stone images would also have been highly visible landmarks in the years after their creation, the researchers wrote, before the long passage of time. The carvings likely signaled the start of a well-traveled route through the desert.
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Commentary: A New Kingdom of Saud?
Since the early 1970s, Saudi Arabia has pursued nine successive five-year development plans (1970–74 to 2010–15) that sought to transform its relatively underdeveloped oil-based economy into a more diversified one.
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Will the Israeli-Iranian Showdown Be in Syria — or New York?
Over the past fifteen years, Israel has steadily seen its own maneuverability in the region recede, while Iran’s has been bolstered by Washington’s disastrous invasion of Iraq, the subsequent loss of U.S. influence and credibility, and even Bashir al-Assad’s survival in Syria.
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Will Trump release a Saudi prisoner from Guantanamo?
On the campaign trail Donald Trump said he wanted to keep the detention center at Guantanamo Bay open and "load it up with some bad dudes." But President Trump may actually oversee a slight decrease in the population.
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Yemen’s Cratered Economy: Glimmers of Hope?
The crisis cannot be resolved through humanitarian aid alone. Any improvement in the humanitarian environment will require an intervention in Yemen’s macroeconomy, particularly its banking system.
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