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  • Saudi Research and Marketing Group, UK-Based Independent Ink Media Deal
     

    Last week, the Saudi Research and Marketing Group (SRMG) and the UK-based Independent announced an exclusive licensing deal that will lead to the creation of four new online news services offering “the highest-quality, free-thinking, independent news, insight and analysis on global affairs and local events,” according to reports. SRMG, the middle east’s biggest publisher whose mastheads […]

     
  • KAPSARC Report: The $200 Billion Annual Value of OPEC’s Spare Capacity to the Global Economy
     

    A recent peer-reviewed report by the King Abdullah Petroleum Studies and Research Center (KAPSARC) finds that OPEC’s spare capacity reduces oil price volatility and generates between $170 and $200 billion of annual economic benefits for the global economy. “Rising international oil prices and increased geopolitical uncertainty have put OPEC’s spare production capacity back into the spotlight,” […]

     
  • 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 […]

     

MUST-READS

  • Saudi surgeon performs world’s first robotic heart transplant on teen

    A Saudi surgeon has performed the world’s first robotic heart transplant on a teenager in the Kingdom. The two-and-a-half-hour surgery, led by Saudi cardiac surgeon Dr. Feras Khaliel at the Kingdom’s King Faisal Specialist Hospital and Research Center (KFSHRC), was carried out on a 16-year-old suffering from stage four heart failure.

  • Analysis: Saudi’s NEOM Dream Deferred: Low Funds, High Risk And China-US Strategic Rivalry

    In April this year, Saudi Arabia revised its target for The Line – a unique linear city inside NEOM which has received global attention for its avant-garde architecture and a revolutionary concept of carbon-neutral urban living. The kingdom announced a massive scaling-down in the size of the metropolis from 105 to 1.5 miles along with a decrease in likely inhabitants to 300,000 from original target of 1.5 million.

  • Saudi Arabia’s Turki Al-Shaikh tops list of most influential people in boxing, MMA, pro wrestling

    Saudi Arabia's General Entertainment Authority Chair Turki AlShaikh came in the top spot of ESPN ranking of "who currently holds all the influence across boxing, MMA and pro wrestling and how they wield it,” according to Mike Coppinger of ESPN.com. The rankings, which were determined with the help of 30-plus industry power players -- fighters, promoters, executives, lawyers, managers and media -- looked at four factors:

  • Saudi Arabia’s IPI rises 1.6% in July: GASTAT

    Saudi Arabia’s Industrial Production Index (IPI) for July 2024 rose by 1.6% compared to the same month in 2023. This growth was attributed to heightened activity in the manufacturing industry, electricity, gas, steam, and air conditioning supply activities, as well as water supply, sewerage, waste management, and remediation activities, a General Authority for Statistics (GASTAT) bulletin said.

  • Statement Issued Following the Fourth Meeting of High-Level Saudi-Chinese Joint Committee

    Both parties commended the robust economic, trade, and investment relations between the two nations, with Saudi Arabia being China's top trading partner in the Middle East and reciprocally, China being the Kingdom's foremost trading partner. Trade between the two countries reached $48 billion by June 2024, with Saudi exports to China totaling $24 billion and Chinese exports to the Kingdom also amounting to $24 billion.

  • Poverty in Yemen: Tracing the Path to Economic Downturn

    For the last ten years, a complex civil war has engulfed Yemen, leading to one of the worst humanitarian crises in the world. International reports indicate that Yemen currently ranks second globally among countries most affected by acute hunger, with millions of Yemenis facing escalating levels of malnutrition, poverty, and deprivation, as well as a severe shortage of basic services. The conflict development in the Red Sea by attacking the ships, hindering the delivery of humanitarian aid and external funding, has exacerbated the situation and accelerated the collapse of living standards.

  • Saudi Arabia’s Riyadh Air begins noncommercial flights ahead of expected launch

    Saudi Arabia’s new airline, Riyadh Air, began on Thursday operating noncommercial flights ahead of its expected official launch next year. The first flight, RX5001, commenced from Riyadh to Jeddah as part of the airline’s Air Operator Certificate (AOC) process that is required by the General Authority of Civil Aviation (GACA). Riyadh Air is scheduled to start operations in 2025 with plans to fly to over 100 destinations worldwide by 2030.

  • China prioritizes Saudi Arabia in overall diplomacy, particularly in Middle East – Chinese premier

    China puts the development of relations with Saudi Arabia as a priority in its overall diplomacy, especially in its Middle East diplomacy, Chinese Premier Li Qiang said here on Wednesday. He called on both sides to further expand bilateral trade, deepen cooperation in traditional areas such as oil and gas, petrochemicals and infrastructure, explore collaboration in emerging fields like new energy, information and communication, and the digital and green economies, while encouraging their respective companies to invest in each other's countries and working together to maintain global industrial and supply chain stability.

  • Nvidia AI Chips Headed to Saudi Arabia, US Reassesses Export Ban

    The U.S. initially imposed advanced semiconductor sanctions on China in 2023, citing national security concerns. In 2024, the embargo on Saudi Arabia followed for its alleged proximity to China. Interestingly, Nvidia AI chips continue to enter China via smuggling and other channels. Saudi Arabia’s engagement in the AI sector has increased, as evidenced by its participation in AI-driven initiatives and partnerships to reduce its reliance on Chinese firms. This has prompted the U.S. to reevaluate its embargo on the country.

  • Aramco Digital partners with Accenture for AI-skilled workforce in Saudi Arabia

    At the core of the partnership lies building an AI-ready workforce. Aramco Digital will adopt Accenture’s LearnVantage’s AI-native platform, which uses a generative AI recommendation engine to curate learning content and offer deep capabilities – from skill gaps assessment and personalized learning to certifications – to ensure individuals gain the skills to become tech-savvy and succeed in their changing role.