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  • Saudi insurance spending per capita up 30% to SAR 2,034 in 2023

    Per capita spending on insurance in Saudi Arabia grew 30% to SAR 2,034 by the end of 2023, compared to SAR 1,564 a year earlier, data from the Insurance Authority (IA) showed. The per capita insurance spending is defined as the gross written premiums (GWPs) during the year divided by population number. Health insurance accounted for 59% of total per capita spending in the sector last year, followed by general insurance with 37%, as well as protection and savings insurance with 4%.

  • How would a President Harris deal with Saudi Arabia?

    As president, Harris would have to accept that close ties with Riyadh are necessary. There is already a draft bilateral agreement with Saudi Arabia that includes security guarantees and cooperation on civilian nuclear power. While the vice president is campaigning, improbably, as the candidate of change, she should pick up the threads of Biden’s existing policy on Saudi Arabia.

  • NASCAR linked with possible race in Saudi Arabia toward end of decade

    NASCAR was listed with a caveat that it was one of the parties having discussions as opposed to having a firm deal. NASCAR COO Steve O’Donnell and Exec VP and Chief Venue & Racing Innovations Officer Ben Kennedy both told SBJ in separate interviews in ’23 that the Middle East was one of the regions they were exploring for potential events, alongside Europe, South America and Asia.

  • Amjad Iraqi: The Future of Palestinians in Israel

    Amjad Iraqi: It's definitely been quite a complex experience. I think first of all, Gaza's not just sort of an imaginary construct for Palestinian citizens. There are very real family connections, community connections, and Palestinian history. Gaza is, and has always been, very much the center of Palestinian identity and politics and culture. And so, to experience it in this moment whereby you're seeing Gaza decimated in the way that it's been, I think has been very profoundly shocking to Palestinian citizens as much as it has to other Palestinians.

  • Cruise Saudi expanding to 10 destinations along Red Sea coast, 3 new ports underway

    Currently operational ports include Jeddah, Yanbu, and Dammam, which have already facilitated visits from hundreds of thousands of international tourists. Among the new developments is AlWajh, which Clasen revealed will serve as a gateway to AlUla, plus a private island and beach location exclusively for cruise passengers.

  • Saudi Arabia Turns to Debt Markets for Vision 2030 Financing

    According to Saudi Arabia’s National Debt Management Center, the kingdom’s total debt stood at some $308.7 billion at the end of September. Of this total, $183.7 billion was domestic debt, and the remaining $125 billion was foreign debt. Compared to U.S. debt, this is nothing. But compared to 2019 debt levels, it is a palpable increase: in 2019, Saudi debt stood at $180.8 billion.

  • Saudi sees tenfold surge in foreign firms since 2016

    Saudi Arabia has seen a sharp increase in foreign firms establishing operations in the country, with numbers rising tenfold compared to the period before Saudi Vision 2030, the kingdom’s mammoth economic diversification plan, was launched in 2016, said Khalid al-Falih, Saudi Arabia’s Minister of Investment, at the Future Investment Initiative (FII).

  • Saudi crown prince meets with global leaders including Pakistani PM, Jordanian counterpart

    Saudi Crown Prince Mohammed bin Salman met with Prime Minister Shehbaz Sharif of Pakistan on Tuesday, Saudi Press Agency reported. The prime minister and his accompanying delegation are in the Kingdom to attend the Future Investment Initiative conference. During the conference, Sharif shared with attendees his government was looking forward to forging new partnerships in artificial intelligence (AI), education and health.

  • Saudi Arabia’s Renewable Energy Initiatives and Their Geopolitical Implications

    One approach Saudi Arabia has adopted is investing heavily in renewable energy, particularly through partnerships with China. This has had the effect of accelerating the country’s progress in renewable energy, with far-reaching implications for global geopolitics and energy markets. Specifically, Saudi Arabia is increasingly becoming aligned with China while China is gaining greater access to Middle Eastern markets and greater regional influence.

  • Franklin Templeton launches two Saudi Arabia funds

    Saudia Arabia also has the largest and fastest-growing bond market among Golf Cooperation Countries, hence its launch of the the Franklin Saudi Arabia Bond fund, which will invest in debt securities and obligations issued by government and corporate entities in the region. Its second product, the Franklin FTSE Saudi Arabia UCITS ETF, will track the FTSE Saudi Arabia 30/18 Capped index, which consists of 64 large and mid-cap Saudi Arabian equities. Dina Ting and Lorenzo Crosato will managed the fund.