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  • Saudi FM Prince Faisal bin Farhan Meets with Secretary of State Mike Pompeo
     

    Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan has met with US Secretary of State Mike Pompeo in Washington on Thursday ahead of an international meeting of countries committed to defeating ISIS, according to reports and social media. “During the meeting, they discussed the Saudi-US long-established strategic partnership, especially the partnership in the fight against […]

     
  • Saudi-based STV Leads $23 Million Funding Round in Trukker
     

    Saudi-based Saudi Technology Ventures (STV) said in a blog post that it is leading a $23 million investment round in Trukker, a truck-focused digital freight marketplace and aggregator based in the UAE. “Today, truck drivers must communicate with brokers via phone calls in order to negotiate pricing of each transaction and discuss capacity and routes,” […]

     
  • State Department Lauds ‘Strong counterterrorism relationship’ between Saudi Arabia and the United States
     

    The U.S. State Department’s recently-released country reports on terrorism praised the U.S.-Saudi “strong counterterrorism relationship” and said “through a range of counterterrorism initiatives, many in partnership with the U.S. government, Saudi Arabia took tangible steps to strengthen its counterterrorism capabilities in border security, counter terrorist financing, and [countering violent extremism].” “Based on local reporting, Saudi Arabia […]

     
  • Venture Capital Set for Ten-fold Growth Over the Next Six Years in Saudi Arabia
     

    Venture capital investments in Saudi Arabia are set to grow ten-fold over the next six years, according to a new report by Saudi Technology Ventures published by The National. The report says that Venture funding investments are at a “positive inflection point” and are set to grow to $500 million annually by 2025, from $50m last […]

     
  • To the Delight of Fans, Saudis Play Soccer Match in West Bank for First Time in Decades
     

    Saudi Arabia’s soccer team will play against the national team in Palestine in the West Bank for the first time in over a decade, delighting fans from both sides. The match, planned for Tuesday, has “electrified Palestinians” not just because it’s a World Cup qualifying match, but because it’s a home game actually played at […]

     
  • Officials Announce ‘Riyadh Season’, a Three-Month Series of Events
     

    Saudi officials have launched ‘Riyadh Season’, a new, three month series of events that will take place from October 15 to December 15 all around Riyadh. The countdown was launched by the chairman of the General Entertainment Authority, Turki Al Sheikh, on his twitter account in a video. The theme of the first season is ‘Imagine.’ Officials have […]

     
  • Saudi Arabia has Selected Haifaa Al Mansour’s ‘The Perfect Candidate’ as its Official Entry for the 2020 Oscars
     

    Saudi Arabia has selected Haifaa Al Mansour’s The Perfect Candidate as its official entry for the 2020 Oscars in the best international feature category, according to reports. Haifaa Al Mansour’s “The Perfect Candidate” is about a Saudi doctor who challenges the patriarchal system in her country by running in municipal elections. Al Mansour is one of the Kingdom’s best-known […]

     
  • Saudis Pay Tribute to Famous Bodyguard to Kings Killed in Dispute with Friend in Jeddah
     

    Saudi citizens took to social media to pay tribute to Maj. Gen. Abdulaziz Al-Fagham, the bodyguard to both the late King Abdullah and King Salman who was killed in argument with a friend in Jeddah, Saudi state media said. Al-Fagham, a tall and fit man who had a familiar face for many Saudis because he was […]

     
  • First shares in Aramco will be sold on Saudi stock exchange – reports
     

    Saudi Aramco will list the first shares of the company on Saudi Arabia’s stock exchange, the Tadawul, and will do so “very soon,” the company’s CEO Amin Nasser said. The local listing is likely to precede an international one, but the company has not yet selected a location, according to reports. “The primary listing is to list […]

     
  • IMF suggests Saudi Arabia double its VAT to 10%
     

    The International Monetary Fund (IMF) suggested that Saudi Arabia would see positive economic benefits by raising its Value Added Tax (VAT) to 10% after successfully implementing a 5% VAT last year. “The introduction of the VAT in January 2018 was a landmark achievement, with revenue collections exceeding expectations,” the Washington-based lender said in a report […]

     

MUST-READS

  • The EU and GCC have embarked on a new era of strategic partnership

    The EU has become acutely aware of the absolute urgency of a fresh and coherent approach to reflect, strengthen and lead the growing strategic convergence with the GCC around trade, investment and new technologies; energy security, climate change and green transition; people to people; regional, global security and humanitarian challenges; and a new generation of dedicated institutional engagements.

  • India and Iran Move Forward on Long-Delayed Chabahar Port Project

    On May 13, India signed a 10-year agreement with Iran to develop and operate the Shahid Beheshti terminal of Iran’s strategic Chabahar port. The new agreement follows a previously promised Indian investment in 2016 of a potential $500 million. It comes after multiple failures to fully implement a previous deal concluded in May 2016 to develop two terminals and five berths at Chabahar port to transport goods and gas from Central Asia to India and handle other international cargo.

  • Saudi Arabia urges its citizens to leave Lebanon immediately

    Saudi Arabia urged its citizens to leave Lebanon immediately, Saudi Press Agency (SPA) reported on Saturday. The call from the Saudi embassy in Lebanon comes following “ the developments of the current events in southern Lebanon, and confirms its previous call to all Saudi citizens to abide by the travel ban to Lebanon,” a statement on SPA said.

  • U.S. Special Envoy for Yemen Lenderking’s Travel to Saudi Arabia and Oman

    U.S. Special Envoy for Yemen Tim Lenderking is traveling to Saudi Arabia and Oman this week to continue discussions with partners regarding recent Houthi detentions of UN, diplomatic, and international NGO staff and efforts to secure an immediate end to reckless Houthi attacks in the Red Sea and surrounding waterways.  Houthi detentions and attacks threaten progress toward achieving a durable resolution to the conflict in Yemen and obstruct the delivery of humanitarian assistance to Yemenis and people in need across the region.

  • Saudi Aramco Awards $25 Billion in Contracts For Gas Expansion

    Saudi Arabia has some of the biggest gas reserves in the world. Development of the Jafurah field, estimated to hold 200 trillion cubic feet of gas, is expected to cost $100 billion and boost the firm’s gas production more than 60% by 2030.

  • Saudi Aramco finalizes deal for phase 2 of Jafurah gas field scheme

    Saudi Aramco has finalized agreements for the second phase of its Jafurah gas field development and the third stage of the expansion of its master gas system, awarding contracts exceeding $25 billion. The company has granted 16 agreements for phase two development at Jafurah, worth a combined total of around $12.4 billion. An additional 15 one-time complete contracts, worth around $8.8 billion, have been awarded to commence the phase three expansion of the master gas system, which delivers natural gas to customers across Saudi Arabia.

  • Saudi Aramco Awards $25 Billion in Contracts For Gas Expansion

    Saudi Aramco has awarded construction contracts worth $25 billion for the development of its Jafurah gas project, as it looks to boost production of the fuel considered a key part of plans to reduce plant-warming emissions. The contracts awarded include $12.4 billion for increasing gas output at Jafurah, plus $8.8 billion for expanding the so-called master gas system, which delivers natural gas to customers around the country, according to a statement. Aramco also awarded $2.4 billion in contracts for gas rigs.

  • Saudi Power Procurement Company signs deals for three solar projects

    Saudi Power Procurement Company (SPPC) has signed power purchase agreements for three new solar photovoltaic projects with total capacity of 5.5 gigawatts (GW), the Saudi energy ministry said on Wednesday. In a statement through the Saudi stock exchange on Thursday, ACWA Power said the agreements are worth 12.3 billion riyals ($3.28 billion) in total.
    The agreements are with Saudi renewable energy utility ACWA Power Company, the Water & Electricity Holding Company (Badeel) and Aramco Power. Badeel is wholly owned by Saudi Arabia's Public Investment Fund.

  • Saudi Arabia’s Contribution to Humanitarian Relief Reaches $130 Billion

    The Kingdom can trace back its record in relief aid to the mid-20th century. In 1950 and under the directives of the founder King Abdulaziz, it sprang to offer humanitarian aid to the victims of floods in Punjab that claimed around 2,900 lives. The following year, Saudi Arabia set up a major school in Jerusalem where 500 students received comprehensive care and education. King Abdulaziz dedicated 100,000 dollars to the school every year.

  • Saudi Tadawul Group Invests in Dubai Exchange

    The acquisition sees Saudi Tadawul Group Holding Company become the joint largest shareholder in DME Holdings Limited, the parent company of Dubai Mercantile Exchange (DME), alongside CME Group, through the acquisition of a mix of new and existing shares. DME will be rebranded as the Gulf Mercantile Exchange (GME) to reflect its position as the key regional commodities exchange in the Middle East.