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  • 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 […]

     
  • Aramco Officials Begin Early Talks with Banks for SABIC Stake Financing, Report Says
     

    Saudi Aramco officials began early talks with banks about a potential debt financing of up to $70 billion to back its acquisition of a majority stake in Saudi petrochemical firm Sabic, Reuters reports, citing banking sources. JPMorgan and Morgan Stanley were picked to advise on Saudi Aramco’s plan in July. Aramco is looking at the 70% strategic stake in Sabic which […]

     
  • MSCI, Tadawul Sign Agreement to Launch a Tradeable Index Later This Year
     

    Global index provider MSCI announced the signing of an agreement with the Saudi Stock Exchange Co (Tadawul) to jointly launch a tradeable index later this year, Reuters reports, a “move that could spur the growth of derivatives and exchange-traded funds.” The Tadawul said it would introduce exchange-traded derivatives in the first half of 2019. According to a […]

     
  • Saudi Arabia Taps Aradhana Khowala for NEOM Tourism Chief
     

    Aradhana Khowala, former CEO and founder of Aptamind, a global private client advisory firm, has been appointed as NEOM’s managing director of tourism, according to reports. “We will be working alongside Aradhana to make NEOM an exceptional global tourism destination looking ahead to the future,” said NEOM’s CEO Nadhmi Al-Nasr in a tweet on NEOM’s official […]

     

MUST-READS

  • Coco Gauff praises WTA Finals in Riyadh, hopes to inspire Saudi’s next generation of tennis stars

    Women’s tennis has found a promising advocate in American tennis star Coco Gauff, who has expressed her support for the sport’s expansion into Saudi Arabia. The 19-year-old, fresh off her triumph at the US Open, is emerging as an inspiration for young athletes, both on and off the court. While some players have been hesitant about the WTA Finals taking place in Riyadh, Gauff’s perspective is refreshingly different. Gauff, currently ranked No. 3 in the world, is on a mission to defend her Flushing Meadows title, aiming to be the first to do so since Serena Williams in 2014.

  • Saudi Arabia to Embark on Exceptional Visit to East Asia, Seeks Automotive Technology Localization

    Saudi Arabia is currently preparing for a high-profile economic visit to East Asia, under the leadership of Minister of Industry and Mineral Resources, Bandar AlKhorayef, from Sep. 1 to 8, 2024, reported the Saudi Press Agency (SPA).

  • Saudi Arabia’s GOSI extends fine exemption for businesses

    Launched by GOSI in March, the initiative aims to help establishments mitigate the financial impacts of fines, correct their insurance status, and settle debts, the Saudi Press Agency reported on Saturday. It is part of GOSI’s efforts to support the business sector, encourage insurance compliance, and improve customer satisfaction. With a 100 percent exemption rate, subscription amounts due to GOSI must be paid through Taminaty Business.

  • Saudi merchandise imports down 5% to SAR 57.7B in June

    Saudi Arabia’s merchandise imports decreased 5% year-on-year (YoY) to almost SAR 57.7 billion in June 2024, according to data issued by the General Authority for Statistics (GASTAT).

  • Saudis Aim to Slash Red Tape as Race for Foreign Cash Heats Up

    The updated law — announced in August and due to take effect in 2025 — will also provide equal treatment for foreigners and locals, freedom to manage investments and repatriate funds, and the ability to appeal penalties and violations. Additionally, investors are set to have more flexibility in how they choose to resolve disputes, including by doing so outside the court.

  • Saudi soccer league remains as ambitious as ever despite quiet transfer window, CEO says

    Despite a relatively quiet transfer window in Saudi Arabia, the arrival of Ivan Toney and Joao Cancelo shows that the ambitions of the cash-rich Saudi Pro League remain as high as ever, according to league chief executive Omar Mugharbel. August ended with Al-Ahli of Jeddah paying London club Brentford a reported 40 million euros ($44 million) for Toney on Friday, three days after Premier League champion Manchester City sold Cancelo to Riyadh’s Al-Hilal.

  • Saudi Arabia’s digital bank ‘D360’ to launch tomorrow

    D360, a digital bank, is scheduled to be officially launched in Saudi Arabia on Sept. 3, on the sidelines of the 24 Fintech conference in Riyadh, which will run from Sept. 3 to 5, according to Al Eqtisadiah newspaper. In February 2022, the Saudi Cabinet approved the Minister of Finance, Mohammed Al-Jadaan, to issue a license to the local digital bank - D360 Bank (under established) – in line with Article No. 3 of the Banking Control Law, data compiled by Argaam showed

  • Massive protests hit Israel after six hostages killed in Gaza

    Massive protests swept Israel on Sunday following the death of six hostages in Gaza as frustration mounted over the failure of the country's leadership to secure a ceasefire deal that would free Israeli captives. Crowds estimated by Israeli media to number up to 500,000 strong demonstrated in Jerusalem, Tel Aviv and other cities, demanding that Prime Minister Benjamin Netanyahu do more to bring home the remaining 101 hostages, about of a third of whom Israeli officials estimate have died.

  • This Saudi video will inspire your next holiday

    There’s a new Visit Saudi video highlighting just how fabulous Saudi really is. A recent video is taking the internet by storm putting a spotlight on the wonders of the Kingdom. “The Land Is Calling” campaign takes viewers on a journey across Saudi, with its contents launching in the UK, France, Italy, Germany and the US.

  • Nazaha arrests 139 government officials over corruption charges

    The arrest follows 2,950 rounds of inspection tour of several government offices by the Nazaha officials. The inspections resulted in the initiation of criminal cases against 380 suspects from a number of government offices such as the Ministry of Interior, Ministry of Defense, Ministry of Education, Ministry of Health, Ministry of Municipality and Housing, and the Zakat, Tax and Customs Authority.