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  • Ambassador Prince Khaled bin Salman Meets with Young Saudis in Tech in California
     

    Saudi Arabia’s Ambassador to the United States HRH Prince Khaled bin Salman met with young Saudi men and women working in Silicon Valley this week, telling the young employees of major U.S. tech firms “I see our future in you. Our leadership is betting on your success,” according to accounts of the meeting. The meeting with […]

     
  • Qatar Welcomes Saudi Decision to Open Border for Hajj Pilgrims
     

    Qatar has responded positively to Saudi Arabia’s decision to open its border with with the Gulf Arab nation for Hajj pilgrims, but also criticized a “politicization” of the key pilgrimage, according to reports. Qatar’s Foreign Minister, Mohammed Bin Abdulrahman Al-Thani, said in a press conference in Stockholm, Sweden that “regardless of the fact that the pilgrimage was prohibited […]

     
  • Rumors Abound Regarding Location(s) of Saudi Aramco IPO Listing
     

    Saudi Aramco’s advisers have recommended London for the historic listing of the oil company, sources familiar with the matter told Reuters in an exclusive report. The report said U.S. disclosure rules were a concern for Saudi authorities. London’s Financial Conduct Authority (FCA) has proposed a rule change that would allow state-owned companies, such as Saudi Aramco, to […]

     
  • New Saudi City Aims for Nearly 1m New Housing Units Near Mecca and Jeddah
     

    Details have emerged on plans for a “giant extension” to the holy city of Mecca in Saudi Arabia that could add up to one million housing units by 2050, according to reports. Prince Khalid Al-Faisal bin Abdulaziz is governor of the Mecca Region. In a press conference, the Prince told reporters that the Al-Faisaliah project […]

     
  • Saudi Female Private Sector Employment Grew 10% in 2016, Ministry of Labor Says
     

    The employment of Saudi women in the private sector increased 10 percent in 2016 over the previous year, according to the Saudi Ministry of Labor and Social Development as reported in the Saudi Gazette. The latest figures show a continuation of a dramatic increase in the last four years for female participation in the workplace. Based on figures provided […]

     
  • King Salman Issues Royal Decrees on Security as U.S. Praises ‘Strong Counterterrorism Relationship’
     

    Saudi Arabia’s King Salman issued a number of royal decrees on Thursday regarding the Kingdom’s security governance, creating a new security authority and separating forces from the Ministry of the Interior, according to reports. The executive order creates a security authority known as the “The Presidency for State Security” linked with the Prime Minister’s Office, the […]

     
  • Saudi Arabia Nears First Utility-Scale Wind Power Project
     

    Saudi Arabia moved a step closer toward the construction of its first utility-scale wind-power project, according to reports. The energy ministry “asked potential bidders and plant developers to submit their qualifications to build the 400-megawatt plant at Dumat Al Jandal in the kingdom’s northwestern Al Jouf region,” Bloomberg reports, citing an emailed statement. “Companies will be able to […]

     
  • Mohammed bin Salman Named Crown Prince, Next-in-Line to King; Prince Mohammed bin Nayef Deposed
     

    King Salman of Saudi Arabia has named his son, Prince Mohammed bin Salman, as crown prince of Saudi Arabia, deposing his cousin Prince Mohammed bin Naif. The move makes Prince Mohammed next-in-line to be king. As Reuters and other news outlets are reporting, the promotion of the new Crown Prince is less surprising than the […]

     
  • Saudi Foreign Minister Adel Al-Jubeir Meets with Secretary of State Rex Tillerson in Washington, Says ‘No Blockade’ of Qatar
     

    Secretary of State Rex Tillerson met with his Saudi counterpart, Foreign Minister Adel Al-Jubeir in Washington yesterday to discuss the ongoing diplomatic situation in the GCC and other regional challenges. In brief remarks to reporters before the meeting, Foreign Minister Al-Jubeir said that there was no “blockade” of Qatar and that Saudi Arabia was exercising […]

     
  • Senate Opposition to Sale of Precision-guided Munitions Grows
     

    Senate Minority Leader Charles Schumer (D-N.Y.) is the latest U.S. senator to throw support behind a Sen. Rand Paul (R-Ken)-led push to block part of President Trump’s $110 billion arms sale to Saudi Arabia, according to reports. The senators who proposed the resolution to block the arms sale said that they expect a close vote. Sen. Sens. […]

     

MUST-READS

  • IPOs, pre-Eid selling weigh on Saudi market: Analysts

    Analysts surveyed by Argaam said that the market experienced negative performance last week, with the Tadawul All Share Index (TASI) dropping by 4% year to date. This drop is attributed to pressures from IPOs, falling oil prices, the Federal Reserve meeting, and pre-Eid Al-Adha selling.

  • Saudi Arabia Loads Up on Debt Amid Growing Megaproject Bills

    The kingdom added around $17 billion in new sovereign debt in the first three months of the year, hitting its total target for all of 2024. The borrowing is part of Saudi Arabia's dash for cash to feed the hugely expensive megaprojects that anchor its planned economic revamp. Saudi Arabia's debt level remains conservative versus Western economies. Its sovereign debt equaled about 27% of gross domestic product last quarter, well shy of the 60%-plus seen in much of Europe.

  • Saudi Equities — Five-Year Milestone and the Road Ahead

    Since May 2019, the MSCI Saudi Arabia and MSCI Tadawul 30 Indexes and the MSCI Saudi Arabia Investable Market Index (IMI) have outperformed the MSCI Emerging Markets IMI. The MSCI Tadawul 30 Index, jointly launched by MSCI and the Saudi Stock Exchange Co. (Tadawul), includes the top 30 stocks listed in the Saudi equity market, based on free-float-adjusted market capitalization and screened for liquidity and international investability.

  • Al-Jadaan: Saudi Arabia seeks deepening collaboration with Switzerland in diverse fields

    He said this while inaugurating the 4th Saudi-Swiss Financial Dialogue held in Zurich, Switzerland, on Thursday. Al-Jadaan headed the Saudi delegation to the conference and the delegation also included a number of senior officials from the Saudi Ministry of Finance, Saudi Central Bank, Insurance Authority, Financial Sector Development Program, and Fintech Saudi.

  • Esports World Cup in Saudi Arabia with a $60 mln prize: All you need to know

    Saudi Arabia is gearing up to host its debut Esports World Cup (EWC) in Riyadh with prize pool of over $60 million in July. The prize pool is the largest ever in the industry, to be divided into four categories – game championships ($33 million), player bounties ($1 million), qualifiers ($7 million), and a cross-game competitive format club championship ($20 million).

  • How Saudi Arabia’s plans to increase base metals production, consumption will affect markets

    The country’s ambitious plan to diversify away from oil and into metals will increase local nickel consumption and fund international mining projects, given recent massive investments in nickel-intense industries, sources said. Meanwhile, Manara Minerals’ investment in Vale’s base metals unit could lead the firm’s nickel production to increase to 3000,000 tpy from around 175,000 tpy, according to Vale.

  • Israeli Official Describes Secret Government Bid to Cement Control of West Bank

    Israeli judges have long ruled that Israel’s control of the territory is a temporary military occupation and complies with international law. A powerful minister’s recent speech, caught on tape, suggested the government is trying to change that.

  • Opinion: Saudi Arabia’s Unwavering Support For Palestine

    The religious significance of Palestine, particularly Jerusalem, also plays a crucial role in Saudi Arabia’s stance. As the custodian of the two holiest sites in Islam, Mecca and Medina, Saudi Arabia holds a unique position within the Muslim world. Jerusalem, home to the Al-Aqsa Mosque, the third holiest site in Islam, holds profound religious importance for Muslims worldwide. Saudi Arabia’s commitment to protecting and preserving Islamic heritage in Jerusalem underscores its broader support for Palestinian sovereignty.

  • Saudi health minister says 1,301 people died during Hajj

    Saudi Arabia’s health minister said on Sunday the death toll during this year’s Hajj pilgrimage reached 1,301. Speaking to state television, Fahd al-Jalajel said that 83 percent of the deceased were pilgrims who had undertaken the journey without the necessary permits.

  • Saudi delegation in US to explore expanding trade and investment opportunities

    A Saudi delegation, headed by the Saudi General Authority of Foreign Trade under the chairmanship of Deputy Governor of the Authority for International Relations Abdulaziz Alsakran, is participating in the 8th Saudi-US Trade and Investment Council Meeting (TIFA), which began in Washington, D.C., on Sunday. Officials from 20 government entities are participating in the event, which will conclude on June 28. The Council aims to monitor trade and investment relations to identify opportunities to further expand trade and investment, as well as to work to remove barriers to trade and investment flows, foster a promising trade and investment environment, and promote economic development between the two countries.