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  • 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 […]

     
  • Photos of Crown Prince Mohammed bin Salman, Top Saudi Leaders Visiting Remote Northwest Saudi Arabia Go Viral
     

    Photographs of Crown Prince Mohammed bin Salman and some of Saudi Arabia’s top officials visiting some of Saudi Arabia’s most famous mountains in the Northwest region of the country have gone viral on social media. The photos showing casually-dressed Saudi ministers and officials were taken last Summer by royal photographer Bandar Al-Jaloud at Jabal Al-Lawz (Almond Mountain) […]

     
  • Saudi Arabia’s Collections from VAT Double Expectations in 2018; Foreign Investment Rebounds
     

    Foreign investment into the Kingdom and VAT collections both more than doubled in 2018 over the previous year, government officials revealed this week as information regarding the Kingdom’s 2019 budget are published. Reuters reports that the Kingdom saw a rebound in foreign investment into Saudi Arabia in 2018 to 13 billion riyals ($3.5 billion), more than […]

     
  • Looking toward Africa, Saudi Seeks Red Sea Political, Economic Bloc
     

    Saudi Arabia is seeking a political and economic alliance with six countries bordering the Red Sea and the Gulf of Aden in a move aimed at strengthening its interests in the crucial waterway and in Africa, according to reports. Representatives from Egypt, Djibouti, Somalia, Sudan, Yemen and Jordan gathered in Riyadh on Wednesday to discuss the initiative, […]

     
  • Saudi Arabia Braces for More Dangerous Wet Weather
     

    Authorities in Saudi Arabia’s are cautioning that more thunderstorms and wet weather is on its way to several areas across the Kingdom, as locals brace for the potential for additional flooding and other hazards. The country’s General Authority of Meteorology and Environmental Protection warned that heavy winds along with thunder and rain would hit Jazan, […]

     
  • Saudi Arabia’s Public Prosecutor Seeks Death Penalty for 5 Khashoggi Murder Suspects
     

    Saudi Arabia’s public prosecutor is seeking the death penalty for five out of 11 suspects charged in the murder of journalist Jamal Khashoggi, Arab News and other local media report. The public prosecutor, Saud al-Mojeb, has concluded that an intelligence officer ordered Jamal Khashoggi’s murder, and not Crown Prince Mohammed bin Salman. Top aide to the Crown […]

     
  • Oil Prices Rise as Saudi Signals 1m Barrel/Day Cuts to Curb Supply Glut
     

    Oil prices rose on Monday after weeks of losses on oversupply and weak demand forecasts after Saudi Arabia signaled that it would cut supply in order to stabilize the markets. OPEC and its allies signaled a willingness to cut production next year by 1m barrels per day (bpd) on October 2018 levels, according to reports. That would […]

     

MUST-READS

  • Saudi Arabia’s Localization Plan Is Reshaping Consultancy Sector

    In October 2022, the Kingdom’s Ministry of Human Resources and Social Development announced that by the end of March 2024, 40 percent of workers in consultancy firms must be Saudi nationals. This mandate targets all professions within the sector, including financial advisory specialists, business advisers, cybersecurity advisory specialists, project management managers, engineers, and specialists.

  • Its economy and infrastructure battered, can Lebanon afford a war with Israel?

    The risks for Lebanon are far greater than in 2006, when a monthlong war with Israel ended in a draw. Lebanon has struggled with years of political and economic crises that left it indebted, without a stable electricity supply, a proper banking system and with rampant poverty.

  • Top US general says risk of broader war eases a bit after Israel-Hezbollah exchange

    Air Force General C.Q. Brown, chairman of the Joint Chiefs of Staff, spoke to Reuters after emerging from a three-day trip to the Middle East that saw him fly into Israel just hours after Hezbollah launched hundreds of rockets and drones at Israel, and Israel's military struck Lebanon to thwart a larger attack.It was one of the biggest clashes in more than 10 months of border warfare, but it also ended with limited damage in Israel and without immediate threats of more retaliation from either side.

  • 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).