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Saudi’s SNB Capital Tops Forbes Ranking of Middle East Asset Managers; More than Half of List Based in Saudi Arabia
Forbes Middle East released its second annual ranking of the Middle East’s top 30 asset management companies, placing Saudi Arabia’s SNB Capital at the top of the list which is dominated by Saudi entities.
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Development on AMAALA Pushes Ahead as 300 Contracts Awarded Worth $1.6 Billion to Date
Saudi Arabia’s ultra-luxury tourism project AMAALA has broken ground and has $1.6 billion of contracts currently out to tender across 54 proposals, the project’s developer The Red Sea Development Company (TRSDC) revealed in a press statement.
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Aviation Plans Set to be Revealed at Saudi Arabia’s Future Airport Development Summit Set for November in Riyadh
Saudi Arabia is set to launch a new event, the Saudi Airport Exhibition, which organizers are billing as the largest dedicated event for airport development in Saudi Arabia.
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SAMA Licenses Two More Fintech Companies, Bringing Total to 38
The Saudi Central Bank, also known as the Saudi Arabian Monetary Agency (SAMA), announced on its website that it has granted permits to two companies to provide open banking solutions, bringing the total number of permitted Fintech companies operating under its Regulatory Sandbox to 38.
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President Biden Concludes Trip to Saudi Arabia with Agreements to Cooperate on Range of Issues
President Biden concluded his trip to Saudi Arabia with a renewed partnership with the Kingdom, pledging to work together with Saudi leadership to achieve shared goals on a number of diplomatic, energy, and trade issues.
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Dr. Sean Foley joins The 966 to talk about a changing Saudi culture, art in the Kingdom and more, and looking ahead to Biden’s visit
In Episode 52, Dr. Sean Foley, professor at MTSU and author of the book Changing Saudi Arabia: Art, Culture, and Society in the Kingdom, joins The 966. Dr. Foley specializes in Middle East history and the cultural, political, and religious trends in the wider Islamic World.
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Report: Announcement on Steps Toward Normalization of Saudi-Israel Relations Expected during President Biden’s Visit to Saudi Arabia
Steps toward normalizing relations between Saudi Arabia and Israel are expected to be announced over the weekend after President Biden meets in Jeddah with Saudi King Salman and Crown Prince Mohammed bin Salman, according to a report in Axios, citing three Israeli officials.
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Report: U.S. Justice Department Investigating PGA Tour in Fight With Saudi-Backed LIV Golf
The Department of Justice is investigating whether the PGA Tour engaged in anticompetitive behavior as it battles the upstart, Saudi-backed LIV Golf circuit, the PGA Tour confirmed to The Wall Street Journal.
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Raghad Fathaddin joins The 966; Oil’s price and Saudi spare production capacity, the new ‘Motawif’ app, and more…
In episode 50, The 966 talks with Raghad Fathaddin, communications analyst for PepsiCo based in Riyadh, an entrepreneur and founder of Sangha “Estidama Hub”, a Y20 delegate and also a WIn fellow. Before that conversation, the hosts discuss a new app from Saudi Arabia that is changing the way people register for the Hajj pilgrimage, […]
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IMF Sees 7.6% GDP Growth for Saudi Arabia in 2022; Highlights Solid Indicators
The International Monetary Fund (IMF) has highlighted solid indicators for the Saudi economy, expecting a 7.6 percent overall GDP growth in 2022, according to a report. Non-oil growth will increase to 4.2 percent in 2022, with the current account surplus increasing to 17.4 percent of GDP in 2022.
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MUST-READS
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Saudi Arabia ranks 1st among G20 countries in workforce growth rate
Saudi Arabia achieved the highest growth rates in both male and female workforce participation among all G20 countries between 2016 and 2021, according to data from the Kingdom’s National Labor Observatory. The statistics reveal a 1.7 percent growth rate for male workers in Saudi Arabia, surpassing Australia’s 1.5 percent and exceeding the rates of other G20 nations. Female workforce growth was even more notable, with a rate of 5.5 percent in Saudi Arabia compared to 2.1 percent in Australia and lower figures in the rest of the G20.
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Discover Saudi’s newest World Heritage Site
Set in a strategic point of the ancient trade routes that used to crisscross the Heart of Arabia and abruptly abandoned around the 5th century CE, the site of Al-Faw – which includes the vestige of the city of Qaryat al-Faw – is full of mysteries waiting to be uncovered.
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Saudi Arabia’s Domestic Tourism is Surging with Solo Travelers Leading the Charge
Domestic travel in Saudi Arabia has seen a significant rise, according to recent data from Wego. Wego’s report highlights a notable 20.31 percent increase in domestic flight bookings during Eid Al-Fitr this year compared to the same period last year. The travel app and online marketplace, catering to the Middle East and North Africa (MENA) region, recorded over three million searches specifically for Riyadh. Additionally, there was a 19.63 percent increase in domestic travel bookings during Eid Al-Fitr compared to the previous month.
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The Country with the Highest Indian Population in the World
India has the highest population in the world, which currently stands at around 1.43 billion, followed by China at 1.41 billion. Considering the Indian population, it is no surprise that it is the leading country with the highest rates of emigration. According to the UN, the total number of emigrants from India was around 78.26 million between 1990 and 2020. According to India’s Ministry of Foreign Affairs, the total number of overseas Indians in the world is approximately 35.42 million, as of May 2024. This number includes a total of 15.85 million non-resident Indians and nearly 19.57 million people are of Indian origin.
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Top U.S. general in the Middle East as U.S. and Israel prepare for possible Iran attack
The U.S. general in charge of American forces in the Middle East arrived in the region on Saturday as preparations continue for a possible attack against Israel from Iran in retaliation for the assassinations of senior Hamas and Hezbollah leaders, two U.S. officials said.
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Calls for foreigners to leave Lebanon as war fears grow
Several countries have urged their nationals to leave Lebanon, as fears grow of a wider conflict in the Middle East. Iran has vowed “severe” retaliation against Israel, which it blames for the death of Hamas political chief Ismail Haniyeh in Tehran on Wednesday. Israel has not commented. His assassination came hours after Israel killed Hezbollah senior commander Fuad Shukr in Beirut. Western officials fear that Hezbollah, an Iran-backed militia and political movement based in Lebanon, could play a key role in any such retaliation, which in turn could spark a serious Israeli response.
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Blinken told G7 Iran and Hezbollah could attack Israel in next 24 hours
Secretary of State Tony Blinken told his counterparts from the G7 countries on Sunday that an attack by Iran and Hezbollah against Israel could start as early as Monday, three sources briefed on the call tell Axios.
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A Battle Over a Farm, a Mosque and the Moral High Ground
In 2006, a developer planning a gated community in the area offered to buy the land. The elder Robinson was beat up from the hard labor, and his sons were not far behind. “So why not move on to the next chapter?” Brad Robinson recalled thinking.
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Saudi Arabia Unveils Plans for 11 New Stadiums in 2034 World Cup Bid
Saudi Arabia is set to make a significant impact on the global sports stage with its bid to host the 2034 FIFA World Cup. The bid includes plans for 11 new stadiums, highlighting the country’s commitment to modernising its infrastructure and enhancing its international profile. The announcement, made in Paris, showcases the kingdom’s intent to build new stadiums across five key cities: Riyadh, Jeddah, Khobar, Abha, and Neom’s futuristic city, The Line.
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Saudi Arabia raises Sept light crude prices for Asia less than expected
Top oil exporter Saudi Arabia raised the price for the flagship Arab light crude it sells to Asia in September for the first time in three months, while cutting prices to the other regions. The official selling price for Arab Light crude to Asia rose by 20 cents to $2 a barrel above the Oman/Dubai average in September, Saudi Aramco said in a statement on Sunday. The price was a two-month high, but the hike was less than the market had expected.
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