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Construction Week’s 2015 Power 25 list for Saudi Arabia; El Seif Engineering #2
The well-regarded industry tracker, Construction Week Online, issued its 2015 Power 25 for Saudi Arabia recently. As the article notes, “This is a celebration of those who are shaping both the industry, and the regional landscape. True to its roots, this year’s list is dominated by powerhouses from across Saudi but you will notice new entrants […]
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Construction Titan, Saudi Bin Laden Group, Suspended from new Projects Following Review of Mecca Crane Collapse
Custodian of the Two Holy Mosques King Salman on Tuesday ordered that top officials of the Saudi Binladin Group be banned from traveling outside the kingdom after investigators pinned the blame partially on the construction company for Friday’s deadly crane crash in Makkah, Arab News reports. The company is also forbidden from taking on new […]
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Jadwa Investment: Oil sector GDP growth revised up following higher than expected year-to-date oil production in Saudi Arabia
In Jadwa Investment’s recently released report on the Saudi economy, the Riyadh-based finance firm sees limited upside to oil prices for the remainder of the year but increased production leading to growth in Saudi Arabia’s oil sector GDP. “Brent oil prices year-to-date average is currently 55 per barrel (pb), down 51 percent, year-on-year. The combination of […]
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Jadwa Investment September 2015 Chartbook: Saudi Government Slows Reserves Drawdown, Oil Affects Stock Market
Jadwa Investment’s September 2015 Saudi Chartbook, a detailed look at key economic performance data for the Kingdom’s economy, finds oil prices pushing downward on the Saudi stock market, but a slowdown to 10-month lows in the Government’s drawdown on assets. Jadwa Chief Economist Dr. Fahad Alturki, in a message to investors, noted four key findings in […]
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Boeing, Saudi Companies to Form New Joint Venture for Helicopter Service
Boeing and its Saudi partners are forming a maintenance, repair and overhaul company for commercial and military helicopters in Saudi Arabia, according to reports. Boeing has signed the agreement with Saudia Aerospace Engineering Industries (SAEI) and Alsalam Aircraft Company to create the Saudi Rotorcraft Support Center in the Kingdom of Saudi Arabia. The joint venture will have locations […]
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King Salman to Visit Washington for September 4th Meeting with President Obama; First Saudi King to Visit since 2010
Saudi officials and sources say King Salman will visit the United States for the first time since ascending the throne and will meet with President Barack Obama on Friday, September 4th in Washington. The King’s visit will be the first since the late King Abdullah visited the United States in 2010. In May, King Salman was invited to […]
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MERS Surges Ahead of Hajj in Test to New Health Minister
Saudi Arabia’s Ministry of Health confirmed 49 new cases of Middle East Respiratory Syndrome (MERS) coronavirus in the last week as the urgency to keep the forthcoming Hajj period free of the infectious disease rises. So far, Saudi Arabia has identified 1,147 infections of the virus, including 487 deaths, since the appearance of the disease […]
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New Planned Saudi City in the Eastern Province May Create 90,000 Jobs
Saudi Arabia’s Eastern Province municipality is planning a model city comprising a residential, economic, and tourism center along the scenic Half Moon bay just south of Al Khobar and across from Bahrain. When complete, the city will absorb 350,000 people, providing 90,000 jobs over the next 30 years, according to Construction Week Online and Arab News. […]
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The Number of Women Employed in Saudi Arabia has Increased by 48% since 2010
Saudi women are entering the workforce in greater numbers as a promising report by Saudi Arabia’s Central Department of Statistics finds a significant uptick in women employed in Saudi Arabia. The increase of 48% since 2010 is encouraging news for the government of Saudi Arabia. The report reflects a slow but seismic shift in Saudi society […]
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Blast Hits Mosque in Asir Province, at Least 13 Confirmed Dead in Third Major Mosque Attack in 2015
A suicide bomber attacked a mosque inside a local security force headquarters in Abha, the capital of Asir province near the Yemeni border. The Guardian reports that, “Ten members of emergency services and three mosque workers killed when a bomber detonated vest during noon prayers in Asir.” The attack is the third such attack in Saudi Arabia […]
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MUST-READS
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Ahead of the National Day, Saudi Arabia Celebrates Iconic Cultural Years
With a bold vision to showcase Saudi Arabia’s majestic heritage, the Kingdom has designated the past four years as prestigious celebrations to crystalize the cultural symbols of the Saudi civilization. Since 2020, Saudi Arabia has embarked on various world initiatives to revolutionize the meanings of traditional symbols and reintroduce these national foundations in a captivating way.
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‘Constructive’ Gaza ceasefire talks to continue Friday
While there is little expectation that a final deal will be struck this week, the resumed talks may also serve as a release valve for soaring tensions between Iran and Israel following Israel’s suspected assassination of a Hamas leader in Tehran last month, which Iran has vowed to avenge.
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Saudi Space Agency Launches ‘Abaad’ Astrophotography Competition
According to the release, the competition aims to encourage interest in astrophotography and increase scientific awareness of astronomy and space sciences, building a creative and productive community. Saudi Astronaut Ali AlQarni, supervisor of Abaad, emphasized the competition's role in advancing space education and inspiring a new generation of astronomers. "The Abaad competition also aligns perfectly with SSA's mission to enrich Arabic content in space sciences and foster a community passionate about exploring the cosmos," said AlQarni.
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KAUST announces building of the first regional class research vessel in Saudi Arabia
KAUST has announced that Freire Shipyards, which has over 100 years of shipbuilding experience, will build its new research vessel, RV Thuwal II, at its yard in Vigo, Spain. Upon the expected completion in 2026, RV Thuwal II will be the first regional class research vessel for Saudi Arabia and enable complete access to the Red Sea, including coastal waters and the deep sea.
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Predicting the Next US Administration’s Approach to the Region
The two leading presidential candidates in America’s 2024 election have made statements and established track records on the Middle East based on their time in office. This document aims to highlight the most important and reliable positions staked out by former President Donald Trump and current Vice President Kamala Harris.
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The war in Gaza passes a bleak, bloody milestone
On Thursday, the Gaza Health Ministry announced that the enclave’s death toll amid the ongoing Israeli offensive against militant group Hamas had surpassed 40,000 people. That statistic is grim in its own right, though implicit in it, too, is the staggering scale of destruction in Gaza — the quantifiable damage unleashed by Israel’s relentless bombardments of the territory and the unquantifiable toll of misery and suffering experienced by a hungry population, struggling for safety in a Gaza where no area seems safe.
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Mpox virus detected in Pakistan, health authorities say
A new form of the virus has triggered global concern because it seems to spread more easily though routine close contact. A case of the new variant was confirmed on Thursday in Sweden and linked to a growing outbreak in Africa, the first sign of its spread outside the continent.
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Saudi Arabia welcomes Sudanese government’s decision to reopen border crossing to aid
Saudi Arabia on Thursday welcomed the Sudanese sovereign council’s decision to allow the use of the Adre border crossing with Chad for three months to enable the entry of aid into areas of the Darfur region. The Kingdom’s foreign ministry said it notes the positive impact of this step in addressing humanitarian needs, facilitating the delivery of aid, and ensuring the safety of humanitarian workers.
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Saudi Arabia to Reduce Big Spending on Oil Sector, Goldman Says
Saudi Arabia is expected to put less money into the oil industry than initially predicted in its goal to invest $1 trillion in strategic sectors by the end of the decade. The Gulf kingdom will likely direct the majority of its funds, around 73% of total investments, into non-oil sectors by 2030, according to Goldman Sachs Group Inc., a shift from the bank’s earlier estimate of 66%.
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The Houthis’ Achilles Heel
In recent months, as the United States has struggled to deter and degrade the Houthis, Yemen’s United Nations-recognized government has worked to dramatically increase economic pressure on the group. The economy, in particular revenue and liquidity, is the Houthis’ Achilles heel. This is where the group is most vulnerable, and this is exactly where the government in Aden is pressing. This approach, however, also carries significant risks. In the short term, increasing economic pressure on the Houthis is likely to prompt them to reignite attacks on Saudi Arabia, while in the long term it could make reuniting Yemen into a single state all but impossible.
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