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  • Saudi Arabia Replaces Finance Minister in Continued Shift Toward Younger Technocrats
     

    Saudi Arabia has replaced its Minister of Finance, Dr. Ibrahim Al-Assaf, with the head of the Kingdom’s capital markets regulator Mohammed Al-Jadaan in the latest move toward a younger generation of technocratic leaders in high positions. Al-Assaf was Saudi Arabia’s longest-serving active minister, having held the position of Minister of Finance since 1996. Another Royal […]

     
  • US Customs Facilities Coming to Riyadh, Jeddah Airports to Add Convenience, Efficiency to U.S.-Saudi Travelers
     

    The United States Customs and Border Protection (CBP) will soon set up facilities at Riyadh and Jeddah airports to process U.S.-bound passengers’ arrival documents before landing in the U.S., the Saudi Gazette reports, citing a person with knowledge of the situation who spoke with the Okaz Arabic daily. Long delays and extra screenings have become standard for […]

     
  • Candor from High-Ranking Saudi Ministers on Economy Latest Example of Increased Transparency
     

    Several high-ranking officials and Ministers in Saudi Arabia discussed the state of the Kingdom’s economy on a popular television show last week, according to Bloomberg, in what amounted to “an unusual attempt by a government not known for transparency to promote its plan to cope with the plunge in oil prices.” “Saudis who switched on a […]

     
  • Government Payments to Top Companies Resume, Al-Assaf Says on Saudi TV
     

    Saudi Arabia has resumed payments of its debts to contractors after long delays that imperiled company finances and hurt investor sentiment, according to Bloomberg, which cited comments made by Saudi Finance Minister Ibrahim Al-Assaf on Saudi television. In the televised interview late on Wednesday, Al-Assaf said payments have been “regularized and will rise in the coming period.” […]

     
  • 72-Hour Ceasefire in Yemen Set for Wednesday Night
     

    The United Nations Special Envoy to Yemen announced a 72-hour cease-fire to begin Wednesday night, after he received commitments from all of the country’s warring factions, according to reports. Ismail Ould Cheikh Ahmed said the cessation of hostilities will begin at 8:59 p.m. UTC Wednesday and could be renewed after the initial three-day period. Twice […]

     
  • Despite Downturn, Half in New Poll Expect Saudi Economy to Improve
     

    With tough economic decisions at hand and the price of oil at a tipping point, where is the Saudi economy heading? In a recent poll conducted by Bayt.com and YouGov, 50% of respondents in Saudi Arabia expect business conditions to improve in one year, and 40% believe things will improve in the next six months. […]

     
  • Deadly Coalition Missile Attack on Funeral in Yemen Draws International Condemnation, Prompts U.S. Review of Support
     

    The ongoing conflict in Yemen was further inflamed this weekend after a missile attack on a funeral hall killed over 160 civilians, sparking outrage across the war-torn country. Yemeni officials and witnesses are blaming the Saudi-led coalition fighting in Yemen for the attack, which threatens to significantly alter the war’s course. The coalition initially denied […]

     
  • Video: Paramotoring in Saudi Arabia’s Qassim Desert
     

    A recently released report and video by Reuters highlights the start and growth of a “paramotoring” club in the Qassim Desert in Saudi Arabia as “a hobby, curiosity, a change.” Paramotoring, also referred to as powered paragliding, involves the use of a motor driving propeller that is worn on one’s back. The motor can be stopped and started in […]

     
  • Jadwa Investment Revises Saudi GDP Down to 1.1%
     

    The latest quarterly GDP update on the Saudi economy from Jadwa Investment finds year-on-year growth continued to slow for the fourth consecutive quarter, “mainly owing to a deceleration in annual GDP growth for both the oil sector and the non-oil private sector.” However, in real terms, the Saudi economy was 1.4 percent larger in the second quarter […]

     
  • Top Saudi Investment Officials in New York for Two-Day JPMorgan Chase Event
     

    Saudi Capital Market Authority Chairman Mohammed Al-Jadaan and Tadawul stock exchange Chief Executive Officer Khalid Al Hussan are among officials attending a two-day event in New York City this week organized by JPMorgan Chase & Co., Bloomberg reports. According to Bloomberg, senior representatives of the kingdom’s economy ministry and central bank will also be present. The […]

     

MUST-READS

  • What Japan wants from Saudi Arabia

    Crown Prince Mohammed bin Salman (MbS) of Saudi Arabia was last month slated to visit Japan for the first time in five years. However, he canceled the trip due to concerns about King Salman’s health, with Japan announcing that it would be rescheduled. Although details of the planned visit are unclear, there is clarity about the motives for engagement on both sides. While most analysis focuses on the Gulf Arab perspective, it is useful to also consider the driving factors on the Japanese side—including the challenges and opportunities ahead.

  • For Over a Century: Saudi Success in Hajj Management

    On February 25, 1925, Sultan Abdulaziz bin Abdul Rahman Al Saud issued a call to Muslims, inviting them to perform Hajj. This was before he was declared King of Hijaz. How did he organize the first Hajj season, and what conditions did pilgrims face? Security was a major concern, along with disease, mistreatment by local authorities, and lack of services.

  • ‘Unprecedented’: Why Hezbollah threatened to attack Cyprus

    Hezbollah chief Hassan Nasrallah on Wednesday threatened an attack on Cyprus, raising fears that a full-fledged war between Israel and Hezbollah could ripple across the Eastern Mediterranean. "Opening Cypriot airports and bases to the Israeli enemy to target Lebanon would mean that the Cypriot government is part of the war, and the resistance will deal with it as part of the war," Nasrallah threatened. Nasrallah's comments are likely to send a shockwave not just through Cyprus, an ethnically divided island nation, but also Greece, a close ally of Nicosia and Israel.

  • The power of ‘brandformance’ in the Middle East

    A recent eMarketer survey revealed that 56 percent of global brands have experienced improved outcomes by breaking down the conventional barriers between branding and performance and opting for a combined approach known as ‘brandformance’. This strategy can be crucial to the MENA market, which is characterised by fierce competition and a deeply digital landscape.

  • A sweltering Middle East cannot afford more power cuts

    Blistering summer heat is nothing new in many parts of the Middle East, even in this era of global warming. For centuries, the people of this region have used all their ingenuity and resilience to cope with high temperatures and humidity. From the Sumerians developing advanced irrigation systems to the barjeel system of ventilation, inhabitants of the region have adapted well to the weather. One would have hoped that modern technology such as air conditioning, refrigeration and electric fans would have consigned such struggles to the past. Sadly, for some countries, even in 2024 this is not the case. Mismanagement and corruption plague some nations, compounding the problems of excessive heat.

  • Saudi Arabia Dethrones China as Top Emerging-Market Borrower

    Overtaking China is meaningful for Saudi Arabia — which has 1/16th of the Asian nation’s the gross domestic product and the drive to become a global business hub by the end of the decade. The latest data suggest improving sentiment as Riyadh seeks funding for projects to diversify the economy from oil and position it as a link between Asia and Europe. Meanwhile, the rest of emerging markets are also witnessing a blockbuster year for bond issuance, amid falling borrowing costs and a hunt for juicy yields.

  • HRS to open first hydrogen station in Saudi Arabia

    Hydrogen Refueling Solutions (HRS), European designer and manufacturer of hydrogen refueling stations, has announced the first order of a hydrogen station outside of Europe, from a Saudi Arabian developer. The site was ordered by a local national energy company and is set to supply a planned fleet of 20 buses and light vehicles, with construction starting in July. As its first station to be sold outside Europe, this marks a decisive step in HRS's strategy of international development.

  • Saudi Wants Family Offices to Help Build Americas Investment

    That figure jumped sevenfold to $4 billion through 2023, and should keep growing, said Abdulrahman Bakir, managing director of the Americas for the Saudi Investment Ministry. Key to increasing the two-way flows of money between Brazil and Saudi Arabia — as well as with the rest of Latin America — is connecting institutional investors, private companies and especially family offices, which are multiplying globally and becoming a bigger source of capital, Bakir said.

  • Hajj comes to an end officially as pilgrims leave Mina after 4th day’s stoning

    Pilgrims who stayed back in Mina on Tuesday night to perform the stoning ritual for the fourth consecutive day, threw pebbles at three Jamarat on Wednesday afternoon. Pilgrims hurled seven pebbles each, first at Jamarat Al-Sugra, then at Jamarat Al-Wusta, and finally at Jamarat Al-Aqaba in a calm and peaceful atmosphere inside the sprawling Jamarat Complex manned by a contingent of security forces, health workers and volunteers.

  • Saudi Arabia Inaugurates its Pavilion at Beijing International Book Fair

    The Saudi delegation, led by the Literature, Publishing and Translation Commission, includes representatives from various cultural entities, such as the Heritage Commission, the Culinary Arts Commission, the Ministry of Investment, the King Abdulaziz Foundation, the King Salman Global Academy for Arabic Language, the King Abdulaziz Public Library, and the Saudi Publishers Association.