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  • Saudi Arabia Plans to Increase State Spending by More than 7 Percent in 2019
     

    Saudi Arabia plans to ramp up state spending by more than 7 percent in 2019, according to a budget released by the Finance Ministry on Tuesday. Spending is projected to rise to $295 billion next year, Arab News reports, an increase of $25 billion over 2018’s figure of $270 billion. The move is seen as an effort […]

     
  • Saudi Private Sector Growth hits 11 Month High as Economy Adjusts to Reforms
     

    Saudi Arabia’s non-oil private sector grew at its fastest rate for 11 months in November, Reuters reports, citing a monthly survey of companies. The positive private sector growth figure is “a sign that the economy may finally be recovering from austerity measures” imposed at the start of 2018 as part of the Kingdom’s economic reform plans, which […]

     
  • Senate Set to Vote On Measure to End U.S. Support Saudi Arabia in Yemen as Pompeo Pens Op-Ed Touting ‘Vital Partnership’
     

    The U.S. Senate is expected to vote on legislation as early as Wednesday that would end U.S. involvement in the Saudi Arabia-backed war in Yemen, as the Trump Administration continues to publicly express support for the U.S.-Saudi relationship. Politico reports that the bill introduced by Sens. Mike Lee (R-Utah) and Bernie Sanders (I-Vt.) “has gained support since […]

     
  • Trump Taps Gen. John Abizaid as U.S. Ambassador to Saudi Arabia
     

    President Trump has selected Retired Four-Star General John Abizaid to be the next U.S. Ambassador to Saudi Arabia. An experienced military leader who retired from the U.S. Army in 2007 after 34 years of service, Gen. Abizaid was head of the U.S. Central Command (CENTCOM). At the time of his retirement, Abizaid was the longest serving commander […]

     
  • Top Think Tank in Saudi Arabia Studying ‘Hypothetical World Without OPEC’
     

    Saudi Arabia’s King Abdullah Petroleum Studies and Research Center in Riyadh is studying what happens to oil markets in a hypothetical world without OPEC, according to the Wall Street Journal and other reports. The study does not represent government thinking or any active discussions about OPEC within the Saudi government. “We’re looking at what happens if […]

     
  • Severe Weather, Rains Across Saudi Arabia Kill 14
     

    Damaging rains and floods have killed 14 people in Saudi Arabia in recent days as officials say the weather across the Kingdom this year has been among the most severe in decades. The heavy rain has affected 13 areas of the Kingdom, the Saudi Press Agency reported. Since Oct. 19, the Command and Guidance Center in […]

     
  • Blackstone Establishes Energy Investment Vehicle for MENA Region
     

    Blackstone, the world’s largest buyout group with over $15 billion of equity globally with the energy industry has established Zarou, a company designed to develop, finance, construct and operate energy-related projects in the MENA region. According to the Financial Times, Blackstone will team with Sameh Shenouda, former head of infrastructure equity investments at the UK’s development finance […]

     
  • Global Advisory Board for NEOM Includes Diverse Experts
     

    The Saudi government has appointed a global advisory board for Neom, the kingdom’s $500 billion city of the future planned for Saudi Arabia’s northwest coast near Egypt on the Red Sea. The board is composed of experts in a variety of sectors – including urban planning, architecture, design, technology, sustainability, energy and manufacturing – to provide […]

     
  • Oil Reaches Four Year High after OPEC+ Downplays Calls for Increased Production
     

    Oil rose to its highest price in four years on Tuesday, to above $81 on Brent, after Saudi Arabia and Russia appeared to downplay calls from the US to increase production. Saudi Arabia said it will boost its crude oil production “in the coming months” as it expects stronger demand, according to recent comments made by […]

     
  • Saudi Energy Minister Khalid Al-Falih in Washington Today to Meet with Secretary Perry
     

    Saudi Arabia’s Energy Minister Khalid Al-Falih is in Washington D.C. on Monday to meet with Secretary of Energy Rick Perry, according to a Reuters report which cited a Trump administration official and the Department of Energy. Saudi Arabia has markedly increased oil exports to America in recent months, according to Bloomberg. This weekend, the energy minister […]

     

MUST-READS

  • The Saudi Capital Market Continues to Set Annual Records in 2023.

    The Capital Market Authority (CMA) issued its 2023 annual report, highlighting significant leaps and record achievements in various regulatory and legislative aspects, as well as developmental and investment product areas. During the past year, CMA approved a new regulation and amended four other regulatory regulations, rules, and instructions. That year also saw the approval by the Council of Ministers of the Real Estate Contributions Law, all in the continuous effort to develop legislation and regulations governing the capital market, according to the annual report issued today.

  • Erdogan says Turkiye stands with Lebanon as tensions rise with Israel

    Cross-border strains between Israel and Lebanon’s Hezbollah have been escalating in recent weeks, stoking fears of an all-out Israel-Hezbollah war. Shelling across Israel’s northern border has led to the evacuation of tens of thousands of people from areas on both sides of the frontier.

  • Indian and Middle Eastern Carriers Boost Connectivity to Tap India’s Outbound Potential

    In an interview with Skift, low-cost carrier Akasa Air’s co-founder Praveen Iyer said that while expanding internationally, the airline received flying rights to Qatar, Saudi Arabia, and Kuwait. “Each of these countries are constrained for capacity, and are therefore interesting markets,” he said, adding that the traffic flows between India and the Middle East will only grow with each passing year.

  • Japan, Australia and Saudi Arabia grouped together in third round of Asian World Cup qualifying

    Japan, Australia and Saudi Arabia will face each other in the third round of Asia’s World Cup qualification for a third cycle in a row following Thursday’s draw in Kuala Lumpur. The three powerhouses, with 19 World Cup appearances between them, have been placed in Group C with Bahrain, China and Indonesia.

  • Saudi Aramco to Buy 10% Stake in Renault, Geely Auto JV

    Saudi Aramco is poised to take a stake of about 10% in a powertrain joint venture with Renault SA and China’s Zhejiang Geely Holding Group Co., according to people familiar with the plan, a smaller commitment than originally signaled by the world’s biggest oil company. The transaction is set to value Horse Powertrain Ltd. at around €7.4 billion ($7.9 billion) with Renault and Geely keeping roughly 45% each, the people said, asking not to be named before the agreement was finalized. An announcement could come by month’s end, the people said.

  • Top websites in Saudi Arabia from December 2022 to November 2023, by number of unique visitors

    Top websites in Saudi Arabia from December 2022 to November 2023, by number of unique visitors,

  • A Rare Bilingual Inscription Discovered in Saudi Arabia’s Tabuk Province

    The discovery is a component of the commission’s ongoing archaeological survey efforts throughout the Kingdom. The inscription is thought to have been written in the fifth century AD based on research on letter forms and their evolution. The inscription is a combination between the Thamudic script and early Arabic script, standing as a living proof of the continued use of the Thamudic script in the 5th century AD.

  • Damac Group invests $1 billion in data centers, eyes Saudi expansion

    Luxury conglomerate Damac Group is making a significant pivot towards the future with a $1 billion investment in data centers and a growing focus on artificial intelligence (AI). Recognizing the increasing demand for robust digital infrastructure, Damac is strategically expanding beyond its core real estate, hospitality, and property management businesses.

  • Climate change boosted deadly Saudi haj heat by 2.5 C, scientists say

    The heatwave in Saudi Arabia blamed for the deaths of 1,300 people on the haj pilgrimage this month was made worse by climate change, a team of European scientists said on Friday. Temperatures along the route from June 16 to 18 reached 47 degrees Celsius (117 degrees Fahrenheit) at times and exceeded 51.8 C at Mecca's Great Mosque. The heat would have been approximately 2.5 C (4.5 F) cooler without the influence of human-caused climate change, according to a weather attribution analysis, opens new tab by ClimaMeter.

  • Saudi Arabia launches e-visas for Esports World Cup attendees in Riyadh

    Saudi Arabia is set to issue electronic visas for attendees of the first Esports World Cup, which will commence in Riyadh on July 3, 2024. The move is a collaborative effort between the Esports World Cup Convention and the Saudi Ministries of Foreign Affairs and Tourism.