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  • Crown Prince Mohammed bin Salman Launches Project for First Nuclear Plant in Saudi Arabia
     

    Saudi’s crown prince on Monday launched a project to build the first nuclear research reactor in the kingdom, Reuters reports, citing the Saudi Press Agency. The project is one of seven “cutting edge ventures” in the fields of renewable energy, atomic energy, water desalination, genetic medicine and aircraft design that were inaugurated by the crown […]

     
  • Saudi Arabia Adjusts National Transformation Plan (NTP)
     

    Saudi Arabia has adjusted some targets within its five-year National Transformation Plan (NTP), making changes to metrics on the official document that can be found on the Kingdom’s Vision 2030 website. Bloomberg first reported the changes on November 1, noting that the new document “doesn’t affect major fiscal or energy-related reforms” but nevertheless represents a scaling back of […]

     
  • Pompeo Leaves Saudi Arabia, Arrives in Turkey
     

    U.S. Secretary of State Mike Pompeo concluded his visit to Saudi Arabia and is now in Turkey to meet with Turkish officials including President Erdogan, according to reports. Pompeo said the government pledged to hold anyone accountable in the disappearance of Saudi journalist Jamal Khashoggi. “[The Saudi government] made a commitment to hold anyone connected […]

     
  • Saudi, Kuwait, UAE Agree to Give Bahrain $10b
     

    Saudi Arabia, Kuwait and the United Arab Emirates have agreed to give Bahrain $10 billion to “support the country’s funding requirements,” Reuters reports, as Bahrain embarks on a fiscal program aimed at eliminating its budget deficit by 2022. The move by Saudi Arabia, Kuwait and the UAE “makes sense economically” because “any collapse of Bahrain’s currency […]

     
  • Saudi National Day Becomes Global Celebration
     

    Buildings in Saudi Arabia and around the world were colored in the Saudi national color of green as millions celebrated the Kingdom’s 88th national day. The Burj Khalifa in the UAE was illuminated with the Saudi flag last night, while the Nasdaq Tower’s electronic billboard in New York’s Times Square was lit up with photos of […]

     
  • Saudi Arabia’s SABIC Gets Green Light to Buy 24.99% stake in Clariant, Creates Joint Venture
     

    Saudi Arabia’s SABIC has received a green light to go ahead with its planned acquisition of 24.99% of Swiss chemical company Clariant, and is now proceeding with a new joint venture with the company, according to the Wall Street Journal. SABIC will pay $2.5 billion for the stake and “now the two companies are creating […]

     
  • Al-Falih Denies Reuters Report of Cancelled Saudi Aramco IPO
     

    Saudi Arabia is refuting a Reuters report yesterday that said the Kingdom was cancelling its planned IPO for Saudi Aramco, according to comments made by the Kingdom’s minister of energy Khalid Al-Falih. “The Government remains committed to the IPO of Saudi Aramco at a time of its own choosing when conditions are optimum,” Al-Falih said. […]

     
  • Report: Top Tech Companies Remove Accounts Related to Anti-Saudi ‘Iranian Propaganda Operation’
     

    Facebook, Twitter, and Alphabet collectively removed hundreds of accounts tied to an alleged Iranian propaganda operation on Tuesday, while Facebook took down a second campaign it said was linked to Russia, according to a Reuters report. Facebook Chief Executive Mark Zuckerberg said the accounts identified on his company’s platform were part of two separate campaigns, […]

     
  • Saudi’s SAMA Warns Against Cryptocurrencies
     

    The Saudi government has outlawed using and trading in Bitcoin, citing the high risk and negative consequences in the cryptocurrency. Saudi Arabia’s Monetary Agency (SAMA) warned against trading in digital currencies for “their negative consequences and high risks on traders as they are out of government supervision.” SAMA continued that cyptocurrencies like Bitcoin “are illegal in the kingdom […]

     
  • Conflicting Reports on PIF Interest in Massive Tesla Stake
     

    Conflicting reports have surfaced on the interest level of Saudi Arabia’s sovereign wealth fund in purchasing a large stake in Tesla, which could enable the electric car company founded by Elon Musk to go private. Saudi Arabia’s Public Investment Fund (PIF) is “working to be part of any investor pool that emerges to take Tesla private,” Bloomberg News […]

     

MUST-READS

  • 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.

  • The Rise of Saudi Arabia’s Oil Empire

    Saudi Aramco, originally founded as the California-Arabian Standard Oil Company in the 1930s, began its journey after oil was discovered in the Eastern Province of Saudi Arabia. The company was established through a partnership between Saudi Arabia and Standard Oil of California (now Chevron). Over the decades, it grew from a regional enterprise into the world’s largest oil producer, pivotal in the development of Saudi Arabia's economy and its global economic influence.

  • Inaugural Esports World Cup signs off with historic closing ceremony

    Over the course of eight consecutive weeks, the EWC hosted 1,500 athletes and over 200 clubs, with a record-breaking $60m prize pool up for grabs across 22 tournaments and 21 titles. The ceremony concluded the biggest weekend in esports history, which also featured the 2024 Esports Awards and 2024 New Global Sport Conference.

  • Saudi Arabia launches Phase I of Riyadh Parking Project

    Phase I of the project is to create and manage over 24,000 public parking spaces in public and commercial streets, in addition to the management of more than 140,000 parking spaces in nearby residential neighborhoods. The phase will cover 12 areas distributed across the Al-Wurud, Ar Rahmaniyyah, West Olaya, Al-Murooj, King Fahd, and Al-Sulaimaniyah districts, in addition to four other areas in the southern neighborhoods of Riyadh.

  • All proposed Iranian ministers approved, but at what cost?

    All ministerial nominees of Iran’s President Masoud Pezeshkian have been approved by the parliament—a first in 23 years. The vote of confidence has stirred controversy as Pezeshkian prior to the ballot told lawmakers that Supreme leader Ayatollah Ali Khamenei had pre-approved all picks. The assertion has sparked pushback from both critics and supporters of the political establishment.

  • Saudi Ambassador to Yemen meets UN Special Envoy

    Saudi Ambassador to Yemen Mohammed Al-Jaber met with UN Special Envoy for Yemen Hans Grundberg in Riyadh on Thursday. They discussed the latest developments with regard to the Yemeni crisis. Al-Jaber is also serving as the executive director of Yemen Comprehensive Humanitarian Operations and general supervisor of the Saudi Development and Reconstruction Program for Yemen.

  • Israel’s evacuation orders have displaced 90% of Gaza residents, UN says

    Successive Israeli evacuation orders in Gaza have displaced 90% of its 2.1 million residents since the Israel-Hamas war began in October, the top U.N. humanitarian official for the Palestinian territory says. U.S. Vice President Kamala Harris says she and President Joe Biden are working to end the war in Gaza, where the International Rescue Committee says the polio virus has been circulating for the first time in a quarter-century because of the destruction of hospitals and water infrastructure, along with overcrowded living conditions.

  • Saudi: Tadawul witnesses 22 private deals worth $104.26mln on Thursday

    Investors in the Saudi stock market Tadawul witnessed execution of 22 private deals on Thursday, with a total value of SR391 million. Most of these deals were pertaining to the Saudi local banks. The highest executed value was in Alinma Bank with SR132 million distributed over six deals with about 4 million shares executed at a price of SR32.25.