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  • For the Third Time in 9 Months, IMF Raises Saudi Growth Forecast
     

    The International Monetary Fund on Monday raised its growth forecast for the Saudi Arabian economy on the back of higher oil prices. In the organization’s World Economic Outlook update, the IMF said the Saudi economy — which contracted by 0.9 percent last year — would grow by 1.9 percent in 2018, up 0.2 percentage points […]

     
  • Report: Saudi to Invest $10b in South Africa’s Economy
     

    Saudi Arabia will invest at least $10 billion in South Africa, mostly in the energy sector, including building oil refineries, Reuters reports, citing the spokeswomen for South Africa’s president Cyril Ramaphosa said on Thursday. The pledge was made by Saudi Crown Prince Mohammed bin Salman during an official visit by President Ramaphosa and government ministers […]

     
  • Financial Sector Development Program: Delivery Plan 2020
     

    A recently released report from Jadwa Investment shines light on the Saudi Arabia’s Financial Sector Development Program (FSDP), which was announced in April of this year. “In many ways, the FSDP is one of the most important Vision Realization Programs (VRPs), in that the success of the other 11 VRPs are wholly dependent on it,” […]

     
  • ‘The Worst May be Over for Saudi Economy’ as GDP Growth Returns
     

    Rising oil prices and a surge in the non-crude sector jolted the Saudi economy back to life in the first quarter of this year, according to reports, as economists and analysts say the worst might be over for the Kingdom after enacting tough but needed economic reforms. The Kingdom’s GDP grew for the first time […]

     
  • Saudi Arabia, Russia to Jointly Invest $2 Billion in Tech Following Crown Prince, Putin Meeting
     

    Saudi Arabia and Russia will jointly invest $2 billion in technology projects next year, according to reports, following the visit of Crown Prince Mohammed bin Salman to Russia at the start of the World Cup last week. Russia’s RIDF, the country’s sovereign wealth fund, and Saudi Arabia have already allocated $10 billion for investment with $2 billion […]

     
  • Saudi Arabia, UAE and Kuwait Come to Jordan’s Aid with $2.5b after Weekend Summit
     

    Saudi Arabia and two Gulf nations agreed to a $2.5b aid package to help support Jordan’s economy after a proposed income-tax increase sparked some of the largest protests seen in the region since the Arab Spring protests in 2011. The package of aid will include a deposit in the Central Bank of Jordan, guarantees to the World […]

     
  • King Salman Extends Eid Al-Fitr Holiday Break
     

    Saudi Arabia’s King Salman issued a directive to extend this year’s Eid Al-Fitr, the end of the Holy month of Ramadan holiday, to give government employees and military staff a full working week off to mark the holiday, which falls at the end of Ramadan. Although the exact start date of Eid has yet to be officially announced, […]

     
  • Saudi World Cup Squad Beats Greece in Friendly, Will Play Cup Host Russia on June 14
     

    Saudi Arabia’s World Cup squad won a friendly match against Greece 2-0 on Tuesday as the Kingdom sets its sights on its first tournament bid since since 2006. ESPN.com has an excellent breakdown of the Saudi team and how it got to secure its first World Cup bid in over a decade, since failing to qualify […]

     
  • Design Released for Saudi Arabia’s New Global Business School in Jeddah
     

    Renderings of the forthcoming Global Business School in Jeddah have been published online, depicting a massive building that will serve as a modern campus for the educational institution in Saudi Arabia’s second largest city. The new business school, which will have both Saudi and international students, is expected to open in 2020 and will operate […]

     
  • Will Trump’s JCPoA Decision Affect U.S.-Saudi Nuclear Talks?
     

    President Trump’s decision to withdraw the United States from the so-called Iran deal may have an effect on the ongoing negotiations between the U.S. and Saudi Arabia, according to analysts, as Energy Secretary Rick Perry hopes to steer Saudi nuclear negotiators into an “acceptable 123 agreement with additional protocols.” The U.S. is hoping to position Westinghouse among […]

     

MUST-READS

  • Arab States Urge Iran to Show Restraint in Conflict With Israel

    Several Arab countries are encouraging Iran to exercise restraint in responding to the assassination of Hamas’s political leader, Ismail Haniyeh, in Tehran last week, as fears of an unpredictable regional war expand. The diplomatic blitz, led by countries allied with the United States, came as the Biden administration was trying to lower tensions in the Middle East and renew efforts to achieve a cease-fire in Gaza.

  • US Leaders Call for Calm in the Middle East, Even as More American Forces Head to the Region

    Calling for calm in the Middle East, top U.S. national security leaders said that they and allies are directly pressing Israel, Iran and others to avoid escalating the conflict, even as the U.S. moved more troops to the region and threatened retaliation if American forces are attacked. “It’s urgent that everyone in the region take stock of the situation, understand the risk of miscalculation, and make decisions that will calm tensions, not exacerbate them,” Secretary of State Antony Blinken said at the close of a meeting with Australian leaders.

  • Mapping the Growing U.S. Military Presence in the Middle East

    The United States maintains a considerable military presence in the Middle East, with forces in more than a dozen countries and on ships throughout the region’s waters. That presence has expanded in 2024 as the United States focuses on deterring and defeating threats from Iran and its network of armed affiliates in the region, including Hamas (Gaza Strip), Hezbollah (Lebanon), the Houthis (Yemen), and several Iraq- and Syria-based militant groups.

  • Oracle’s second cloud region in Saudi Arabia to help kingdom harness AI’s full potential

    Oracle has opened its second cloud region in Saudi Arabia, giving a boost to Riyadh's digital transformation strategy, as it aims to help the kingdom's economy harness the full potential of artificial intelligence. The move, part of a $1.5 billion investment commitment announced by the US technology company in the Arab world's biggest economy, will help public and private organisations migrate to the cloud, Texas-based Oracle told The National on Tuesday.

  • Saudi PIF Has Poured $750 Million Into Depleted AR Firm Magic Leap

    Magic Leap, which has raised at least $3.5 billion, said it needs additional funds later this month and again in January and June 2025 “to meet its obligations as they fall due,” according to a company report filed in the UK. The firm has a “realistic expectation” of getting the funding from an unnamed investor, according to the filing from its European operations.

  • Saudi Aramco Sees Oil Demand Rising by 1.6 Million Bpd in Second Half of 2024

    Global oil demand is expected to rise by between 1.6 million and 2 million barrels per day (bpd) in the second half of the year, Saudi Aramco’s chief executive Amin Nasser said on Tuesday, noting that the past week’s selloff in oil doesn’t reflect fundamentals. Aramco sees total global oil demand at 104.7 million bpd for the full-year 2024, the top executive of the world’s largest oil company said on the second-quarter earnings call.

  • Saudi Aramco to Return $31 Billion to Shareholders, Government Despite Profit Dip

    Saudi Arabia's national oil company on Tuesday posted a quarterly net profit of $29.07 billion, down from the $30.83 billion it reported for the same period last year, after it sold less crude oil and its refining margins weakened, offsetting robust oil prices in the quarter.

  • ACWA Power to commission 2.6 GW of Saudi solar projects by end-2024

    Saudi Arabia’s ACWA Power Co (TADAWUL:2082) will commence operations in the second half of 2024 for four domestic solar projects with a combined capacity of 2,620 MW and a total investment of SAR 11.5 billion (USD 3.06bn/EUR 2.81bn).

  • Saudi Aramco stock climbs on Q2 results, dividends

    Shares of Saudi Aramco (2223.SR) are trading higher after the company met second quarter net income expectations and will pay a quarterly dividend totaling $31.1 billion. Yahoo Finance reporter Ines Ferré breaks down the details, analyzing the company's financials and providing insights into the broader oil industry landscape.

  • Revolutionizing GCC Logistics: Impact of the Proposed Kuwait-Saudi Railway

    The Kuwait-Saudi Railway, a groundbreaking infrastructure project set to stretch 650 kilometers and connect Kuwait City with Riyadh by 2028, could revolutionize logistics in the Gulf Cooperation Council (GCC) region. This rail link promises to bring about significant improvements in efficiency, cost-effectiveness, and environmental sustainability, marking a transformative moment for the region’s logistics landscape.