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  • Saudi Government Data Reveals Large-Scale Crackdown on Illegal Workers, Residents
     

    A crackdown that began in November 2017 on illegal labor in Saudi Arabia has resulted in the deportation of 750,504 expatriates to their respective countries, according to official data. The kingdom has been detaining people for residential, labour and border security regulations since November 2017 with 19 government departments participating in the campaign. Saudi Arabia is […]

     
  • Lockheed Clinches $2.4 billion Deal for Sale of ‘Crown Jewel’ THAAD missiles to Saudi Arabia, Part of $15 billion Package
     

    Bethesda, Maryland-based Lockheed Martin Corporation was awarded a $2.4 billion Pentagon contract on Monday for THAAD interceptor missiles, some of which will head to Saudi Arabia, Reuters reports. The announcement of the THAAD system was “part of a $15 billion package for defensive ballistic missile systems,” the UPI reports. Lockheed will provide interceptors and associated one-shot […]

     
  • Inflows Surge as Tadawul Upgrades to Inclusion in FTSE Russell and S&P Dow Jones Emerging Market Indices
     

    Saudi Arabia’s stock exchange, the Tadawul, began the first phase of inclusion into the FTSE Russell and S&P Dow Jones Indices (S&P DJI), which is expected to lead to billions in inflows into the country and represent a milestone for Saudi authorities as the country continues to open up to investment. Inclusion of Saudi Arabia into the FTSE Russell […]

     
  • Ambitious Goals for Saudi Ports in Vision 2030 Drive
     

    The Saudi Ports Authority says it aims to reduce container time at its ports to three days by 2020 while simultaneously pushing for more than double handling by 2030, according to the Saudi Press Agency and other reports. The goals fit into the kingdom’s Vision 2030 economic and social reform drive which prioritizes the generation of efficiencies […]

     
  • Saudis ‘interested in market stability first and foremost’ despite Trump’s tweets
     

    President Trump’s attempts to restrain oil prices via Twitter have a reduced impact as Saudi Arabia says it will continue output cutbacks aimed at raising the price on global indices.. The President has used his Twitter account successfully in the past year to blast OPEC and Saudi Arabia while the price of crude rebounded from 2016 lows. […]

     
  • Visa Launches Apple Pay in Saudi Arabia as Executives Continue Probe of Absher App
     

    Visa on Tuesday launched Apple Pay in Saudi Arabia, allowing its Kingdom-based cardholders to make payments using their Apple devices, according to reports. Early reports via Apple Insider show “compatibility with previously confirmed financial partners including the country’s largest institution, the National Commercial Bank….Separately, individual banks like Al Rajhi confirmed access to the service in release notes accompanying […]

     
  • Saudi Arabia to establish an independent export and import finance bank
     

    Saudi Arabia will establish an independent export and import finance bank with a capitalization of SAR 30 billion riyals ($8 billion) to provide financing to local exporters and foreign importers, the UAE-based The National reports. The Kingdom first proposed the EXIM bank to support sales of its goods abroad in 2017. The Saudi Exports Development Authority (SEDA) […]

     
  • Report: The Oil Market Roller Coaster
     

    It has been a tumultuous six months for oil prices on international indices. Prices have slightly rebounded early in 2019 after a precipitous fall from over $86 in September on the Brent Index to just over $50 on Christmas Day. In response, the Saudi-led OPEC+ group agreed in December to cut prices to erode a global […]

     
  • OPEC Gets Jump on Planned Production Cuts, Slashes Output in December
     

    The nations forming the OPEC+ alliance slashed oil production in December, one month before the producer group officially began a fresh round of output cuts agreed to late last year in response to a global supply glut and fears of a worldwide recession, according to CNBC. OPEC’s oil output fell by 751,000 barrels per day, to 31.6 million […]

     
  • Reports: Potential Deal for New Saudi Investment in U.S. Energy Sector
     

    Saudi Arabia is reportedly eyeing an investment in U.S. liquefied natural gas (LNG) in what would mark a “sea change in the energy flows between the U.S. and Saudi Arabia,” the Wall Street Journal reported Tuesday citing unnamed sources. The WSJ reports the “landmark decision” would mark a shift for Saudi Arabia, which in the past has been an energy […]

     

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  • Israel kills 40 Palestinians in Gaza airstrikes amid fears of wider war

    Israeli forces stepped up airstrikes across the Gaza Strip on Thursday, killing at least 40 people, Palestinian medics said, in further battle with Hamas-led militants as Israel braced for potential wider war in the region. Israeli airstrikes hit a cluster of houses in central Gaza's Al-Bureij camp, killing at least 15 people, and the nearby Al-Nuseirat camp, killed four, medics said. Nuseirat and Bureij are among the densely populated enclave's eight historic camps and seen by Israel as strongholds of armed militants.

  • Survival of the fittest: Petrochemical makers battle global glut

    Petrochemical producers in Europe and Asia are in survival mode as years of capacity build-up in top market China and high energy costs in Europe have depressed margins for two consecutive years, forcing firms to consolidate. The sector's weakness is troubling for a global oil industry looking at petrochemicals to keep profits rolling in as transportation fuel demand falls in coming years with the energy transition.

  • It’s increasingly difficult to see how Qatar can broker a Gaza breakthrough

    When the longtime political chief of Hamas was assassinated in late July 2024, it didn’t just leave the entire Middle East on edge. It also created a political headache in Qatar. That’s because the death of Ismail Haniyeh, the result of an apparent Israeli operation, struck a blow to Doha’s already sputtering diplomatic efforts in the Middle East.

  • Everything you need to know about the first Saudi Arabia Snooker Masters

    Saudi Arabia Snooker Masters’ first event is Battle on the Blaze. The event will welcome some of the world’s biggest snooker players. Ronnie O’Sullivan will headline the event and compete for the trophy. The line-up also includes Mark Allen, John Higgins, Shaun Murphy, Mark Selby, Judd Trump, Kyren Wilson and Mark Williams.

  • Saudi Communications Ministry Unveils 2nd Phase of Source Tech Initiative to Boost Digital Economy

    The Saudi Ministry of Communications and Information Technology has announced the start of the second phase of the Source Tech initiative, which is part of efforts to boost the Saudi digital economy. This phase's launch follows the initiative's success in its first stage, which established more than 15 tech centers in six regions across Saudi Arabia. The initiative aims to maximize cooperation with the private sector to localize application and software development, outsourcing, and communication services within the Kingdom.

  • ROSHN Group, Saudi Aramco to Cooperate in the Construction of 47,000-capacity Stadium in Alkhobar

    A 47,000-capacity arena, to be called the Aramco Stadium, is to be built in Alkhobar in the Eastern Province following a cooperation agreement between ROSHN Group and Saudi Aramco. The stadium is expected to be fully operational by 2026, when it will be ready to host local and international events, including the Asian Cup which Saudi Arabia is scheduled to host in January 2027, the Saudi Press Agency reported on Wednesday.

  • Saudi ports report 15.72% growth in container handling for July | Hellenic Shipping News Worldwide

    Saudi Arabia’s ports recorded a 15.72 percent increase in container handling in July compared to the same month last year, official data showed. The latest statistics from the Saudi Ports Authority, known as Mawani, revealed that the Kingdom’s terminals received 271,465 standard containers in July, up from 234,592 in July 2023. The volume of handled tonnage also increased by 9.11 percent year on year, reaching 27.38 million tonnes.

  • Saudi Aramco explores global LNG opportunities: Nasser

    Saudi Aramco's President and CEO Amin Nasser said the company is working on a number of international investments and exploring global opportunities in the field of LNG. He added that the company has ambitious plans to develop its portfolio and expand its capabilities in this field. Nasser said in an investor call that the oil giant seeks to complete a strategic partnership in the field of LNG with MidOcean Energy during the third quarter of 2024.

  • Saudi Arabia Increases Its Cooperation with World’s Nuclear Watchdog

    The small but significant step could facilitate U.S. technology transfers to the kingdom, said to be a key element in any potential Israeli-Saudi normalization deal—but proliferation concerns persist.

  • Saudi Arabia: Insurance market posts 26% jump in net profit to US$586m in 1H2024

    The Top Three companies — BUPA, Tawuniya, and Al Rajhi — saw profit increases of 36%, 105%, and 47%, respectively, totalling SAR1.6bn.