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  • Leaders Arrive in Saudi Arabia for Two Summits as Tensions Run High Over Iran
     

    Saudi Arabia began hosting Arab leaders for two emergency summits starting today after attacks this month on oil assets has heightened tensions with Iran, according to reports. Riyadh hopes the meetings will deliver a strong message to Iran that regional powers will defend their interests against any threat after this months attacks, Reuters reports. Saudi Arabia’s Minister of […]

     
  • Economy Update: Prices cool down after a year of reforms
     

    The latest official government figures on inflation for Saudi Arabia show a decline in prices after a year of reforms, according a recently released report by Jadwa Investment. Over the last year, Saudi Arabia has introduced a number of reform measures, including the introduction of a VAT, utility price reform, and other changes. The latest General […]

     
  • Saudi Arabia’s SALIC invests in crop analytics firm Hummingbird Technologies
     

    The Saudi Agricultural and Livestock Investment Company (SALIC) announced it was leading a £7m ($8.8m) funding round of investments into artificial intelligence startup Hummingbird Technologies, according to the company. Hummingbird, which was set up in 2016, uses drone and artificial intelligence to provide advanced crop analytics to farmers. Hummingbird, using imagery and data analytics from satellite, drone, plane […]

     
  • Oil Soars as Two Saudi Oil Tankers Among Four Attacked off UAE Coast
     

    Saudi Arabia said on Monday that two of its oil tankers were among those attacked off the coast of the United Arab Emirates, Reuters reports, with a total of four vessels being impacted by an attack. The UAE said on Sunday that four commercial vessels were “sabotaged” just outside the Strait of Hormuz. It did […]

     
  • Saudi Government Revenue Surges Nearly 50% in Q1
     

    Government revenue surged to SR245 billion ($65 billion) the first quarter of this year, an increase of 48 percent year-on-year, according to recent data revealed by Jadwa Investment. Both oil and non-oil revenue saw sizable rises. Government oil revenue rose by 48 percent, to SR169 billion ($45 billion), and was boosted by a SR124 billion ($33 billion) dividend […]

     
  • Senate Fails to Override Trump Veto on Yemen War
     

    The Senate on Thursday fell short of the votes needed to override President Trump’s veto of legislation demanding an end of U.S. support for the Saudi-led military coalition operating in Yemen. The resolution passed in the House and Senate would have ended all U.S. involvement with the Saudi Arabia-led coalition in the war in Yemen. It marked […]

     
  • IMF’s Regional Economic Outlook Says Saudi Needs $85 Oil for Fiscal Balance
     

    A recently-released IMF report on the oil-producing Middle East and North African economies said that Saudi Arabia’s newest breakeven price for oil – the price of oil at which its government could fund its operations without a deficit – is $85 on the Brent index. The report is a quarterly update on the economies of oil-producing […]

     
  • Saudi Youth Unemployment Numbers Improve Significantly in 2018, Report Reveals
     

    A recently released report by Jadwa Investment, citing latest government data, shows major gains in curbing high youth unemployment in the Kingdom. Overall unemployment declined slightly in Saudi Arabia by the end of 2018, to 12.7 percent by the end of 2018, from 12.8 percent in 2017, according to data from the latest General Authority for […]

     
  • Saudi Arabia to Invest $35 Billion in Movie Theaters by 2020; Seeks 2,500 Screens
     

    Saudi Arabia’s General Commission for Audiovisual Media (GCAM) announced that the Kingdom will spend $35 billion on cinemas by 2020, according to reports. The announcement was made Thursday at CinemaCon, the official convention of the National Association of Theatre Owners at Caesar’s Palace in Las Vegas. The GCAM is the authority in charge of issuing cinema licenses […]

     
  • PIF-backed Uber Technologies Buys Regional Rival Careem for $3.1 Billion
     

    It’s the biggest tech deal the Middle East region has ever seen. Uber Technologies, Inc. is buying regional ride-sharing rival Careem for $3.1 billion, $1.7 billion in convertible notes and $1.4 billion in cash. Dubai-based Careem successfully rivaled Uber in Saudi Arabia and other parts of the Middle East region, amassing 30 million users across 90 […]

     

MUST-READS

  • Saudi Arabia announces discovery of seven oil, gas deposits

    Saudi Arabia's energy minister announced on Monday the discovery of seven oil and gas deposits in the kingdom's Eastern Province and Empty Quarter, the official Saudi news agency SPA reported. Saudi Energy Minister Prince Abdulaziz bin Salman said state oil group Saudi Aramco had discovered "two unconventional oil fields, a reservoir of light Arabian oil, two natural gas fields, and two natural gas reservoirs", SPA said.

  • Trump Tower is coming to Saudi Arabia

    The Trump Organization revealed plans Monday to develop a luxury Trump Tower in Saudi Arabia. The new tower will be built in Jeddah and developed in tandem with Dar Global, the international arm of Saudi mega-developer Dar Al Arkan. If completed, it appears the Jeddah tower would be the Trump Organization’s first major project in Saudi Arabia.

  • Iran’s Presidential Hopefuls: Strongman, Surgeon, and Pen Pusher

    The presidency in Iran is to some extent what the president makes of it: While strongmen empower the institution, weak presidents reduce it into a largely ceremonial office. Therefore, who occupies the Office of the President in Tehran is significant.

  • Saudi Arabia Records 231.7 Points in the UN Maritime Index

    This year has witnessed the continuation of the authority's efforts to develop infrastructure in the Kingdom's ports to enhance the competitiveness of ports at the regional and international levels, and to support and facilitate global trade. The development work of the Red Sea Gateway Terminal in the northern part of Jeddah Islamic Port has been completed, with investments amounting to SAR 1 billion. Mawani has also completed the deepening of the northwestern approach channel in the port with a length of 3,000 meters, a width of 300 meters, and a depth of 18.5 meters, which was previously 17 meters.

  • flynas Launches Saudi Arabia’s First Program to Train Airline Cabin Crew in Sign Language

    The Saudi air carrier flynas has launched the first program of its kind in Saudi Arabia to train airline cabin crew in sign language. Implemented in collaboration with the Saudi Association for Hearing Impairment, this program underscores flynas' commitment to adopting sustainable initiatives that positively impact society.

  • Why Saudi Arabia matters more than ever to the US in a volatile Middle East

    That the stability of the Arabian Peninsula is taken completely for granted by many observers in the West represents a failure of the imagination, as Saudi Arabia, with its wealth and holy places, is a country that jihadi Islamists such as Al Qaeda, and revolutionary Iran and its proxies, have sought to capture for decades. Indeed, the Kingdom of Saudi Arabia is the ultimate prize for those who want to topple the U.S.-led order in the region. Failure to recognize this or to imagine what would happen should radical revisionist elements succeed in disrupting Saudi stability is short-sighted and strategically dangerous.

  • Who does Saudi Arabia play in 2026 FIFA World Cup qualifiers?

    Saudi Arabia learned its 2026 FIFA World Cup qualifying fate on Thursday as the Green Falcons were handed a tough third round group that includes fellow Asian heavyweights Australia and Japan. Roberto Mancini’ side, which labored to a second place finish behind Jordan in second-round qualifying, will need to improve if it is to claim a spot at the World Cup finals in the USA, Canada and Mexico in two years’ time.

  • Saudi Reserves Jump to 18-Month High Thanks to Aramco Dividends

    Net foreign assets held by the kingdom’s central bank jumped 5% to $445 billion, or 1.67 trillion riyals, at the end of May, the highest since November 2022, according to figures released Sunday. That coincided with Aramco paying out more than $25 billion in dividends to the government the same month, up from about $18 billion a year earlier.

  • Banks drag Saudi down, Qatar hits 3-month high

    The Saudi index closed lower on Sunday, with the financial sector leading the losses, while the Qatari index hit a three-month high having risen consistently through the month. Saudi Arabia's benchmark stock index (.TASI), opens new tab, which recorded its first monthly gain after three months of consecutive losses, dropped 0.4%. The losses in the index were driven by Saudi Arabia's two biggest lenders, with Al Rajhi Banking And Investment Corporation (1120.SE), opens new tab declining 1.8% and Saudi National Bank (1180.SE), opens new tab dipping 1.2%.

  • Saudi Arabia ranks 3rd in remittance outflows globally in 2023: World Bank report

    Saudi Arabia ranked third globally and second in the Arab world in terms of countries sending international remittances during the year 2023. Total outward remittances amounted to nearly SR 144 billion ($38.4 billion) during the last year.  Foreign remittance is the money that immigrants send directly to their families or communities in their country of origin in the world.  According to a recent report by the World Bank titled “Migration and Development Brief,” the United States of America topped among the world countries sending international remittances, with total external remittance flows reaching about $85.8 billion during the year 2023.  The United Arab Emirates came in second place globally and first in the Arab world, with total remittances amounting to about $38.5 billion, while Kuwait ranked tenth globally and third in the Arab world.