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  • Secretary Tillerson, in Riyadh, Pledges Support for Saudi-Iraq Relationship to Counter Iran
     

    U.S. Secretary of State Rex Tillerson visited Riyadh over the weekend to express U.S. support for a warming of relations between Saudi Arabia and Iraq as the two nations inaugurate the first meeting of the Saudi-Iraq Coordination Council, a new organization that will facilitate bilateral ties. The inaugural Coordination Council meeting marks a warming of relations between Riyadh and Baghdad. […]

     
  • Saudi Aramco Denies Financial Times Report on Shelving Long-Awaited IPO
     

    Saudi Aramco has denied a report in the London-based Financial Times that the state-controlled company will shelve its plans to list part of the company on international indices in favor of private placements. The Financial Times reports that talks about “a private sale to foreign governments including China and other investors have gathered pace in recent […]

     
  • King Salman Consolidates Development Funds and Promotes New Transportation Minister
     

    Saudi Arabia’s King Salman has created a new organizational body to centralize and consolidate control and management of its economic development funds, called the National Development Fund (NDF), under Crown Prince Mohammed bin Salman. The NDF will “link the Saudi Fund for Development, the Saudi Industrial Development Fund, the Agricultural Development Fund, the Social Development Bank, the Human […]

     
  • Saudi Arabia’s PIF Takes Charge of $5b Jeddah Corniche Redevelopment to create “New Downtown”
     

    Saudi Arabia’s Public Investment Fund (PIF) has announced it will lead the redevelopment of Jeddah’s waterfront corniche, creating a “unique tourist, residential and commercial destination” that aims to become the “New Jeddah Downtown.” The PIF will look to add 12,000 housing units as well as shops and other attractions like museums, a cultural and social area, an activities center, […]

     
  • Saudi Arabia Will Remove its Ban on Internet Phone Calls on Thursday
     

    Saudi Arabia will remove its ban on internet phone calls on Thursday, a government spokesman said, in a bid “aimed at stimulating online business as the kingdom looks to boost non-oil revenue,” Reuters reports. The news is sure to be welcomed by the many foreign men and women who travel to Saudi Arabia for business, […]

     
  • New York Times Profiles New Saudi Ambassador to the U.S. Prince Khaled bin Salman
     

    The New York Times published a profile and interview with Saudi Arabia’s new Ambassador to the United States Prince Khaled bin Salman and the significant role the young prince will play in the U.S.-Saudi diplomatic and economic relationship. Prince Khaled, who is brother of the Crown Prince Mohammed bin Salman and son of King Salman, […]

     
  • Al-Falih: Steps Taken by OPEC Have Brought Greater Stability, Further Cuts Eyed
     

    Saudi Arabia’s Minister of Energy, Industry, and Mineral Resources Khalid Al-Falih said he agreed with other OPEC nations to keep all options open in the organization’s push to re-balance world oil markets, “including the possible extension of output cuts beyond next March,” according to reports. According to three emailed statements from his ministry obtained by Bloomberg, steps taken by […]

     
  • Trump, King Salman Discuss Qatar Crisis in Phone Call
     

    U.S. President Donald Trump spoke with Saudi King Salman on Wednesday and urged “all the parties in the Qatar dispute” to find a diplomatic resolution to end the crisis, according to a White House statement. According to a White House readout of the call, President Trump and King Salman “discussed the need to defeat terrorism, cut off […]

     
  • 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 […]

     

MUST-READS

  • PIF-backed Saudi companies increase dividends

    This week Saudi Arabia’s former telecom monopoly announced increased dividends. It became the latest company part-owned by the kingdom’s sovereign wealth fund and listed on Riyadh’s bourse to do so. The higher payouts provide a boost to the income of the Public Investment Fund, which it can then reinvest in higher-growth industries and accelerate Saudi’s economic diversification. Other investors can also benefit.

  • Are You Ready for Saudi Arabia’s Personal Data Protection Law? Here’s What You Need to Know

    As Saudi Arabia’s new Personal Data Protection Law (PDPL) comes into effect this September, companies across the Kingdom are racing to meet stringent data management and privacy standards. The law, which is said to be modelled closely on the EU’s GDPR, is designed to safeguard personal information and regulate data handling practices, reflecting Saudi Arabia’s commitment to data privacy amid its broader Vision 2030 goals.

  • Saudi inflation remains steady at 1.5% in July

    The consumer price index (CPI) increase was primarily driven by a 9.3% year-on-year (YoY) rise in housing, water, electricity, gas, and other fuel prices, according to Al Rajhi Capital Research. The Wholesale Price Index (WPI) rose by 3.1% in July 2024 compared to the same month in 2023. Furthermore, Saudi crude oil production (mbpd) rose to 9.00 in July.

  • Saudi Arabia issues royal decrees

    Commander of the Joint Forces Lieutenant General Mutlaq bin Salem bin Mutlaq Al-Azima will retire from military service. He has been appointed as an advisor at the Royal Court

  • Saudi Arabia changes senior military commanders

    Saudi Arabia issued royal decrees announcing changes to the heads of its joint forces, navy and land forces, state news agency SPA reported on Thursday.
    The chief of general staff, Lieutenant-General Fayyad bin Hamed al-Ruwayli, was left in place. The next most senior military role, commander of the joint forces, will be taken by Lieutenant General Fahd bin Hamad bin Abdulaziz Al-Salman, who was promoted from a major general, the decree said.

  • Saudi Arabia’s GEA unveils details for 5th edition of Riyadh Season

    The fifth edition will also see the launch of a new area called “Boulevard Runway,” developed in partnership with Saudi Airlines, which will repurpose old, unused airplane models. Boulevard Runway will consist of three zones with a capacity of 9,000 people, spread across 140,000 square meters.

  • Saudi Arabia announces $266m Boulevard Business Park as Riyadh creative hub

    The project includes more than 60,000sq m of leasable space, offices and headquarters for companies, co-working zones for entrepreneurs, retail stores, concept stores for national and international brands, an outdoor art gallery, a gym, a spa, a suspended pool, and hanging gardens.

  • Saudi Arabia’s Waba Crater Recognized Among Top 100 Geological Landmarks Worldwide

    The Saudi Geological Survey (SGS) announced the selection and nomination of the Waba Crater, also known as the Tamiya Quarry or scientifically as the Al-Mar Volcano, located in Hurrat Khishb, about 270 km northeast of Jeddah, as one of the top 100 geological heritage sites in the world for 2024. This distinction was bestowed by the International Union of Geological Sciences (IUGS) and the United Nations Educational, Scientific, and Cultural Organization (UNESCO).

  • AlUla Wellness Festival to return to Saudi Arabia’s ancient city with new experiences

    The AlUla Wellness Festival will make its much-anticipated return to Saudi Arabia’s ancient city with a blend of community activities, wellness experiences and workshops that offer a comprehensive approach to wellness. Held from 17th October to 2nd November, the festival invites guests to take a “voyage within” and discover holistic renewal, self-reflection, healing, and immersion in nature.

  • Red Sea Global Launches Saudi Arabia’s Second Water Aerodrome

    Red Sea Global (RSG), the developer behind the regenerative tourism destinations The Red Sea and AMAALA, has secured its second operating license for a water aerodrome, this time for Shebara Resort at The Red Sea.  “As owners of the Kingdom’s first seaplane airline and its only two water aerodromes up until now, we are firmly establishing ourselves as leaders within tourism and aviation. he added.