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G.E., Aramco Ventures Pump $52m into Boston-Area 3D Printing Startup
General Electric Ventures and Saudi Aramco Ventures have led an investment of $52m in total funding into a Boston-based 3D printing device company, Desktop Metal. Desktop Metal aims to bring “an everyday-use metal 3D printing solution to the workspace of every engineering team,” according to CEO Ric Fulop. Boston Business Journal reports that the investment from […]
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Jadwa Investment: A Turn to Positive for Saudi Economic Data in July 2016 Economic Chartbook
Jadwa Investment’s recently released July 2016 Chartbook reveals economic data for Saudi Arabia trending toward the positive for the month of May, citing data on ATM withdrawals and point-of-sales transactions showing seasonal increases. Cement sales and PMI data also showed a slight acceleration in activity. The government also has reversed the months-long decline in assets at […]
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Deputy Crown Prince Mohammed bin Salman, Minister of Commerce Majed Al-Qasabi Tour Facebook, Meet with Mark Zuckerberg
Saudi Arabia’s Deputy Crown Prince, Mohammed Bin Salman, met Facebook Inc. Chief Executive Officer Mark Zuckerberg during a tour of Silicon Valley before departing for New York. The Deputy Crown Prince was given a tour of Facebook’s headquarters in Silicon Valley and was accompanied by the Saudi Minister of Commerce, Dr. Majed al-Qasabi. Prince Mohammed […]
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Back in a Business Suit, Deputy Crown Prince Mohammed bin Salman and Delegation Sign Agreements with Six Flags, Cisco Systems
Saudi Arabia has signed partnership agreements with theme park company Six Flags Entertainment and Cisco Systems during a visit by Deputy Crown Prince Mohammed bin Salman and his accompanying delegation to Silicon Valley this week as Saudi Arabia looks to boost its business and commercial ties with the United States. The prince was shown wearing a gray […]
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Deputy Crown Prince Mohammed bin Salman Meets with Defense, U.S. Chamber of Commerce Officials
U.S. Defense Secretary Ash Carter hosted an enhanced honor cordon yesterday to welcome Deputy Crown Prince Mohammed bin Salman, Saudi Arabia’s defense minister, at the Pentagon in Washington, D.C. The two leaders and other defense officials from both the U.S. and Saudi Arabia met “for a series of constructive meetings and briefings,” the Pentagon said in […]
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Saudi’s New Minister of Commerce and Investment Dr. Majed Al-Qasabi to Meet with Business Leaders at U.S. Chamber of Commerce Today
Saudi Arabia’s New Minister of Commerce and Investment, Dr. Majed bin Abdullah Al-Qasabi, will meet with business and private sector leaders today at the U.S. Chamber of Commerce in Washington, D.C. The private roundtable discussion is part of the U.S.-Saudi CEO Summit initiative which is a partnership between the U.S. Chamber of Commerce and the […]
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Dispute Between U.N.’s Ban Ki Moon, Saudi Arabia Spills into the Public
UN chief Ban Ki-moon said in public comments on Thursday that Saudi Arabia had exerted “unacceptable” pressure on the world body after a U.N. report blacklisted a Saudi-led military coalition for killing children in Yemen, according to reports. Moon said financing for humanitarian operations in the Palestinian territories, South Sudan and Syria would be compromised if […]
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Saudi Arabia’s National Transformation Program Released
Saudi Arabia has unveiled its long-awaited National Transformation Program (NTP), a 112-page document outlining Saudi Arabia’s strategic objectives in achieving its previously-announced “Vision 2030” initiative as well as identifying the challenges faced by government bodies in the economic and development sectors. “The National Transformation Program is one of the executive programs supporting Vision 2030. The program […]
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Uber Scores the Largest Single Investment Ever Made in a Private Company from Saudi Arabia’s Public Investment Fund; Snags $3.5b
In what is being called the largest single cash investment ever made into a private company, Saudi Arabia’s Public Investment Fund (PIF) has invested $3.5 billion for 5% of the on-demand car service Uber. The investment is the first of likely many more investments into technology as Saudi Arabia looks to act on its ‘Vision 2030’ […]
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Saudi, Iran Row Over 2016 Hajj Heats Up
Iran says it will not allow its pilgrims to attend the Hajj this year following weeks of talks with Saudi Arabia, according to reports. According to Saudi Arabia’s Foreign Minister, Adel Al-Jubeir, Saudi Arabia would not acquiesce to “unacceptable” demands. Al-Jubeir commented that, “Iran refused to sign the memorandum and was practically demanding the right to hold […]
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MUST-READS
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Saudi Red Sea Authority set to attract 19 million tourists to Red Sea coast by 2030
The Saudi Red Sea Authority (SRSA) aims to develop a thriving coastal tourism sector in the Red Sea, contributing approximately SR85 billion to the GDP by 2030. This would capture 30 percent of the Kingdom’s leisure tourism and 40 percent of total entertainment spending, attracting 19 million tourists, and generating more than 210,000 jobs.
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Iran’s FM to visit Saudi Arabia amid hardliner backlash over Arab response to Gaza
Last Friday, for the first time in five years, reinforcing a message he has focused on recently: the unity of Muslim countries against the presence of the US and other Western powers in the region. Khamenei called for solidarity, stating, “We have to tighten the belt of defense... from Afghanistan to Yemen, Iran to Gaza and Lebanon, in all Islamic countries. That’s the first issue I wanted to discuss.”
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Saudi Arabia tops Arab cement producers, ranks 10th globally: Alkhorayef
Saudi Arabia ranks first in the Arab world and tenth globally in cement production, with an annual output capacity exceeding 80 million tons from 20 domestic factories, according to Minister of Industry and Mineral Resources Bandar Alkhorayef, as reported by the Saudi Press Agency (SPA).
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Atlético Madrid stadium rights bought by Saudi state airline
Saudi Arabia has consolidated its branding push with Atlético Madrid by paying for naming rights to the Spanish club's stadium for the next nine years. Atlético, which has been sponsored by Saudi state-owned Riyadh Air since last season, confirmed on Wednesday that its Metropolitano stadium will be known as the Riyadh Air Metropolitano henceforth until 2033. Atlético did not say how much it was receiving for the new agreement "which makes the Saudi Arabian company the most important sponsor in the club's history."
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Inside Saudi Arabia’s Remarkable Logistics Transformation
The 2024 Agility Emerging Markets Logistics Index continues to rank Saudi Arabia highly across several key metrics and demonstrates the impact of the agenda set forth by Saudi Vision 2030. The country ranks sixth for ‘international opportunities’ in the logistics sector, up three places from 2023. When it comes to ‘business fundamentals’ and ‘digital readiness’, it ranks third and sixth respectively, showing how well the Kingdom matches up in the context of global logistics. Meanwhile, Saudi Arabia has risen 17 places in the World Bank's Logistics Performance Index and is set to host the Global Logistics Forum in Riyadh later this month, reflecting its growing status as a leader in the field.
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Saudi q-commerce Nana acquires Rasseed app
Founded in 2016 by Abdulmajeed Alsukhan and Sami Alhelwah, Nana is a digital grocery shopping platform dedicated to fulfilling daily, weekly, and monthly household grocery needs. Meanwhile, Rasseed, founded in Saudi Arabia in 2016, is focused on providing software solutions to simplify the purchase of branded and local gift cards.
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Saudi Arabia, Japan are the safest and least crime countries among G20
A recent statistic for the Global Crime Index for 2023 showed that Saudi Arabia and Japan topped the list of the safest and least crime countries in the G20, as the Kingdom came in second place in the list of the safest countries, with a rate of 75.3, reflecting the success of ongoing efforts to enhance security and stability in the country, and reliance on strict legal systems and advanced technologies to monitor security, in addition to community programs aimed at enhancing safety and preventing crime.
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Saudi Arabia’s e-commerce market set to surge to $69.33 billion in 2025
Saudi Arabia’s e-commerce sector is on track for substantial growth, with revenues projected to hit SR260 billion (approximately $69.33 billion) by 2025, according to Commerce Minister Dr. Majed Al-Qasabi. During a visit to the Al-Baha region, the minister emphasized the increasing momentum in online shopping, noting that over 50 million e-commerce shipments entered the kingdom in 2023 alone.
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A Region Aflame – October 7 A Year Later
You could say Hamas as a military organization is shattered compared to what it was a year ago, but I think Israel wants to ensure that not only are they not a threat today, but they will also never be a threat. That's an exceptionally difficult bar, right? I don't actually know how you do that on a practical level. In Gaza, Israel seems to want to eradicate or destroy Hamas, but not do what the United States would say is necessary, which would be a mix of having lots of troops there so you can keep Hamas down and at the same time putting in place some sort of political structure that replaces Hamas.
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Saudi Arabia narrowly fails to win seat on U.N. Human Rights Council
Saudi Arabia narrowly failed on Wednesday to win a seat on the United Nations Human Rights Council, a blow to Riyadh's efforts to boost the country's rights reputation abroad and four years after it was rejected in a 2020 bid to join the 47-member body. Saudi Arabia is spending billions to transform its global image from a country known for strict religious restrictions and human rights abuses into a tourism and entertainment hub under a plan its Crown Prince Mohammed Bin Salman launched, known as Vision 2030. The Asia-Pacific group, which included Saudi Arabia, was the only competitive race on Wednesday with six candidates vying for five seats. Marshall Islands came in fifth with 124 votes, while Saudi Arabia missed out with 117 votes.
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