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  • Gulf Arab states support right of Saudi Arabia and UAE to defend interests
     

    Gulf Arab states voiced support for Saudi Arabia and the United Arab Emirates to take any action required to defend their security following recent attacks on their oil assets, Reuters reports. A statement published by Saudi state news agency SPA said the six nations had discussed at an emergency meeting in the kingdom a joint […]

     
  • Saudi Stocks Surge for Largest Single-Day Gain in 6 Months as Investors Prepare for MSCI Inclusion
     

    Shares in the Tadawul, the Saudi stock market, surged 2% on Tuesday with much of the gains happening before the session closed as MSCI Inc. prepares to include the Kingdom into its developing country benchmark, according to a report in Bloomberg. MSCI Inc., which is a Global provider of equity, fixed income, hedge fund stock market indexes, […]

     
  • Reports: Saudi Arabia Places Huge Bet on U.S. Natural Gas
     

    Saudi Aramco announced a preliminary agreement on Wednesday to buy 5 million tons of liquefied natural gas per year in a deal with U.S.-based Sempra LNG, according to reports. The move is a “new strategy” for Aramco and highlights “the growing importance of the United States as an energy exporter,” the New York Times reports. The deal, if completed, […]

     
  • Arabian Centres IPO Postponed Two Days, But will Still Make History
     

    Saudi Arabia’s largest share offering in four years for Arabian Centres shopping malls has been postponed for two days amid rising geopolitical tensions and a looming trade war between the U.S. and China, but when trading begins, it will still be a historic moment for Saudi Arabia’s markets. In addition to being the biggest IPO in four years, the […]

     
  • Saudi Arabia’s Shura Council Approves Green Card-Style Residence Program
     

    Saudi Arabia’s Shura Council has approved a plan for introducing a “Green Card-style residence system for foreigners aimed at attracting investors,” according to reports which cited Saudi media. The “privileged iqama” system will be offered for specific fees and have both permanent and temporary versions. The new system is designed to ensure eligible residents “a set of advantages […]

     
  • New ‘Economics in Society’ Report Examines Role of Misperceptions on Women Employment Rates in Saudi Arabia
     

    A new research report published by the UBS International Center of Economics in Society examines how social norms may affect employment rates for women in Saudi Arabia, providing evidence “that most Saudi men privately believe that women should be allowed to work, but that they underestimate the extent to which other men share their views.” […]

     
  • Saudi Economy to Grow at 2% This Year, Government Posts Large 1Q Surplus
     

    Saudi Arabia’s central bank governor, Ahmed Al-Kholifey, told Reuters in an interview that he expects economic growth to be “no less than 2 percent” in 2019. The comments from Al-Kholifey comes as a separate quarterly Reuters poll of economists found lowered expectations for growth in Arab Gulf economies this year. Gross domestic product in Saudi Arabia, […]

     
  • Al-Falih Expects Strong Demand for Aramco’s First-Ever Bond Issue
     

    Saudi Arabia expects strong demand for Saudi Aramco’s first-ever bond issue, which is expected to close on Wednesday. Demand for the bonds could surpass $30 billion, Energy Minister Khalid Al-Falih said while speaking at the inaugural Gulf Intelligence Saudi Arabia Energy Forum in Riyadh on Monday. Others estimate it could top $40 billion, more than four […]

     
  • Saudi Arabia plans 2.6 GW solar park near Mecca
     

    Saudi Arabia is set to issue tenders for 2.6 GW Mecca solar project in 2019, according to reports. The Faisaliah Solar Power Project is planned to be developed in several stages by the Saudi Ministry of Energy, Industry and Mineral Resources and the Development Authority of Mecca. Construction work on the project will begin this year, […]

     
  • King Salman Announces $23 Billion for Four Entertainment Projects Including the ‘World’s Biggest Park’ in Riyadh
     

    Saudi Arabia is planning to build the “world’s biggest park” as part of a $22.9bn project that aims to create large open green areas in Riyadh while creating thousands of new jobs, according to the Saudi Press Agency and other news outlets. The project consists of four entertainment projects in Riyadh, which are currently in the design phase, according […]

     

MUST-READS

  • White House denies Gaza ceasefire talks fizzled out, again

    But after repeated rounds of the White House portraying a deal as within reach that seems to slip away, one is left to wonder if the administration is engaged in wishful thinking, including about the Israeli leadership’s commitment to a hostage deal; is overselling the odds of a deal in order to reduce the pressures that could lead to a wider regional war, as well as domestic political pressure on itself; and/or is just ineffective or unable to get it over the finish line.

  • The Flourishing World of Artistic Shows in Saudi: A Comprehensive Exploration

    Saudi Arabia has been making significant strides in the world of art and culture, with a burgeoning scene that is captivating audiences both locally and internationally. The country’s rich history and traditions have laid the foundation for a dynamic and diverse artistic landscape, showcasing a blend of traditional and contemporary influences. From traditional performances to modern art exhibitions, the flourishing cultural scene in Saudi Arabia offers a well-rounded perspective and practical guidance for a diverse audience.

  • Saudi Arabia condemns Israeli minister’s remarks on building synagogue at Al-Aqsa mosque

    Saudi Arabia has condemned an Israeli minister’s remarks where he called to build a synagogue at Al-Aqsa mosque, the Kingdom’s foreign ministry said early Tuesday. Israel’s hard-line Security Minister Itamar Ben-Gvir repeated a call for Jews to be allowed to pray at the Al-Aqsa Mosque in Jerusalem, drawing sharp criticism for inflaming tensions as ceasefire negotiators seek a deal to halt fighting in Gaza.

  • Saudi Arabia’s pharma, medical device factories surge to 206 with $2.6bn investments

    The number of pharmaceutical and medical device factories in Saudi Arabia has reached 206, with investments totaling SR10 billion ($2.6 billion), according to official data. The Ministry of Industry and Mineral Resources reported that this growth includes 56 pharmaceutical factories licensed by the Saudi Food and Drug Authority, with investments in the pharmaceutical sector alone exceeding SR7 billion.

  • What lies in Rub al-Khali, world’s most dangerous desert, that swallowed up Telangana man

    Shezad, who hailed from Telangana and was working with a telecom company in the Al Hasa region of Saudi Arabia for three years, went to the Rub al-Khali desert with a colleague five days ago. Their GPS device malfunctioned. Their car ran out of fuel. Their phones had no signal. Eventually, all their efforts to reach safety turned out to be in vain.

  • Sharp slowdown in companies opening Saudi HQs

    Scott Cairns, managing director of Creation Business Consultants in Dubai said: “We observed a rush toward the end of last year and the beginning of this year, as many companies were eager to establish their regional headquarters.” Initial demand dropped by around half in the second quarter, although interest has since increased, “indicating that some took their time and are now ready to establish their operations,” he added.

  • Saudi Film Commission to participate in the 81st Venice International Film Festival 2024

    The Saudi Film Commission will take part in the 81st Venice International Film Festival, scheduled from August 28 to September 7, 2024, in Venice, Italy. As one of the oldest and most prestigious film festivals globally, the Venice Film Festival is a key event within the Venice Biennale and is recognized by the International Federation of Film Producers Associations (FIAPF).

  • Saudi authorities foil attempt to smuggle nearly 350,000 pills from Iraqi border

    Saudi authorities have thwarted an attempt to smuggle 349,710 Captagon pills into the Kingdom through the Jadidat Arar land crossing on the border with Iraq, Saudi Press Agency reported. The Zakat, Tax, and Customs Authority said that the pills were discovered concealed within a shipment labeled as “equipment used in polishing tiles.”

  • Saudi Arabia witnesses exceptional summer season featuring thunderstorms and showers of hail

    Saudi Arabia is witnessing an exceptional summer season with the continued rainfall, accompanied by showers of hail and active winds in several regions. The southwestern coastal city of Jazan recorded last Friday the highest amount of rainfall in a single day over the past 12 years, reaching 184 mm, breaking the record set in Jeddah in 2022 when it reached 182 mm.

  • Ratney: US Expediting Strategic Agreements with Saudi Arabia

    Although the US ambassador did not specify a timeline for the completion of these agreements due to the region’s complexities, he outlined that the package encompasses several key areas, such as enhancing the strategic and military partnership between the US and Saudi Arabia and normalizing relations between Riyadh and Tel Aviv, and ensuring a definite path towards the establishment of a Palestinian state.