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Deputy Crown Prince Mohammed bin Salman Arrives in Washington, Photographed for the First Time Wearing Western Business Suit
Deputy Crown Prince Mohammed bin Salman arrived in Washington, D.C. on Monday and met with Secretary of State John Kerry in Georgetown for an informal dinner. Prince Mohammed’s arrival marks the first time he has been photographed or filmed wearing western clothing. The prince typically wears traditional Saudi clothing both at home in the Kingdom and […]
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As Vision 2030 Details are Rolled Out, International Banks and Others Look for Opportunities
International banks are jockeying for a role in Saudi Arabia’s plans to list part of state-owned Saudi Aramco for an Initial Public Offering (IPO), according to a report in Reuters. Financiers around the world are keen to cash in on a cornerstone of the recently-announced “Vision 2030” economic and social plan, with banks preparing for […]
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Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman to Visit Washington Mid-June
Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman will visit Washington, D.C. and other cities in the U.S. in June, as the influential Saudi official plans to discuss both foreign policy and economics, according to sources cited by several news outlets. Because Prince Mohammed is both Minister of Defense and President of the key Council […]
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2015 Aramco Annual Review Highlights Record Year of Production
Saudi Aramco’s recently released Annual Review 2015 confirms that the state-owned company produced at record levels last year – averaging 10.2 million barrels per day. The report, which features highlights of the company’s 2015 performance, also said total refining capacity stood at 3.1 million barrels per day, “reflecting successful rapid expansion downstream, optimizing the overall […]
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Graphic: A Capital Punishment Uptick in Saudi Arabia; Kingdom Trails China and Iran
Saudi Arabia may put more than 100 people to death in the first six months of this year and is on pace for a record-setting year after a dramatic surge in executions in 2015, according to reports. Saudi Arabia has executed 95 people this year, with about half of that figure resulting from the execution of […]
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Mine Kills Saudi Border Guard, Wounds Three Others on Yemen Border as Peace Talks Flail
A Saudi border guard was killed and three others were wounded by a land mine that exploded while on patrol alongside the border with Yemen on Monday, according to reports. According to the Saudi Press Agency, the blast injured the soldiers in Saudi Arabia’s southern Jazan Province on the border with Yemen. Reuters reports that it was not immediately […]
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G.E. Jumps Into Saudi Economic Reforms with $1.4b in Deals, Doubled Workforce
General Electric (G.E.) has won a series of deals in Saudi Arabia worth $1.4 billion and said it would double its workforce in the Kingdom from 2,000 to 4,000 by 2020, according to reports. The deals amount to “support” for Saudi Arabia’s “Vision 2030” reform plan, according to Reuters, and were announced by the company’s […]
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Saudi Aramco Energy Ventures Steps Up Investments in U.S.
Saudi Aramco ventures, the venture capital arm of the state-owned Saudi oil giant, has increased its investments in early stage and high growth companies in energy, petrochemicals, and renewables recently with two investments into U.S. companies, according to Forbes. The Dhahran, Saudi Arabia-based VC can is looking to invest $1 million and $30 million per […]
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How Riyadh’s King Abdullah Financial District’s Future Has Shifted
Riyadh’s unfinished King Abdullah Financial District (KAFD) located halfway between downtown Riyadh and King Fahd International Airport is headed for new ownership and a revised master plan. KAFD – the city within a city that was originally designed to be home to the Kingdom’s banks and international financial houses – will soon be owned by […]
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Ahead of ‘Vision 2030’, Saudi Arabia Tested Foreign Lending Appetite
Ahead of Saudi Arabia’s landmark Vision 2030 announcement, the Kingdom tested its credit-worthiness from international lenders by raising $10 billion, despite downgrades by Moody’s and Standard & Poor’s (S&P) earlier this year. Not only was Saudi Arabia able to easily raise the funding, the issuance was oversubscribed – so much so that the Kingdom increased […]
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MUST-READS
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How La Liga is building bridges with Saudi Arabia and regional partners
At the start of March, the La Liga FC Futures U14 tournament was held at the Mahd Sports Academy in Riyadh and won by Spanish club Villarreal. The competition had been organized in partnership with the Kingdom’s Ministry of Sports and saw 12 teams taking part, including eight EA Sports La Liga teams — Barcelona, Cadiz, Atletico Madrid, Sevilla, Villarreal, Real Betis and Osasuna — as well AS Roma from Italy, Portugal’s SL Benfica, Olympique de Marseille ofFrance and Saudi Arabia’s own Mahd Academy.
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Ronaldo scores his 4th hat trick of Saudi Pro League season
Cristiano Ronaldo scored his fourth hat trick of the Saudi Pro League season on Saturday as Al Nassr thrashed Al Wehda 6-0. The five-time Ballon d'Or winner now has 32 league goals this season, two short of Abderrazak Hamdallah's record tally of 34 back in the 2018-19 campaign, with four games still to play. Ronaldo opened the scoring in Riyadh in the fifth minute after intercepting a poor clearance from goalkeeper Monir El Kajoui.
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Boxing has a drug problem. Saudi Arabia’s Turki Alalshikh can make fixing it his legacy
Turki Alalshikh, chairman of the General Entertainment Authority, is the driving force behind Saudi Arabia’s expanding influence in boxing. His personal commitment and respect for the sport are well known. I’d like to see Turki Alalshikh take the lead in combatting the use of illegal performance enhancing drugs in boxing.
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Who’s Who: Abdullah Al-Ajmi, space business development director for Lockheed Martin in Saudi Arabia
Abdullah Al-Ajmi is the space business development director for Lockheed Martin in Saudi Arabia. He is responsible for coordinating and bolstering the Kingdom’s space efforts. In addition to fostering strategic cooperation between government and commercial enterprises, Al-Ajmi oversees the facilitation of scientific experiments and international research collaborations, as well as the administration of future space-related missions. A retired brigadier general of the Royal Saudi Air Force and Ministry of Defense, he has a wealth of expertise and experience in remote sensing and intelligence, surveillance, and reconnaissance and space systems.
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Saudi Awwal Bank reports 16 percent growth in Q1 net profit at SR2 bn
Lubna S. Olayan, chair of the board of directors of Saudi Awwal Bank, announced the bank’s financial results for the period ending March 31. SAB recorded a net profit after zakat and income tax of SR2.04 billion ($543.9 million) for the period ending March 31, representing an increase of 16 percent compared to the same period of 2023. The total operating income rose 7 percent to SR3.44 billion.
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World Snooker Championship: The near-silent sport which has become the latest focus of Saudi Arabia’s imagination
No one dares speak louder than a whisper as nearly 1,000 people respectfully take their seats inside the dimly lit Crucible Theatre. There is a sense of nervous excitement as those lucky enough to get their hands on a ticket cram into this historic venue in the heart of Sheffield, a city in the north of England. But they’re not here to see a theatrical performance. They’ve come to witness the nerve-shredding, silently electric atmosphere of the World Snooker Championship.
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Sullivan Says US-Saudi Defense Pact Not Possible Without Israel Deal, FT Reports
US National Security Advisor Jake Sullivan insisted the Biden administration will enter into a defense pact with Saudi Arabia only if the kingdom normalizes relations with Israel, the Financial Times reported. Sullivan said in an interview with the newspaper the two issues were part of an “integrated vision” for peace in the Middle East and could not be disentangled. He said that President Joe Biden will publicly outline a path to a more secure Israel and a more peaceful region in the months ahead, the FT said.
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U.N. rights boss seeks freedom for Saudi women activists
U.N. human rights chief Michelle Bachelet called on Saudi Arabia on Wednesday to release women activists allegedly tortured in detention after authorities accused them of harming the country's interests. Activists have named 10 Saudi women held for their campaigning, voicing fears that they could face harsh sentences. Saudi Arabia's public prosecutor is preparing the trials of detainees, identified by watchdog groups as women's rights activists, after completing its investigations, state news agency SPA said last Friday.
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Saudi Fintech Firm Rasan Plans to Sell 30% Stake in Riyadh IPO
Saudi Arabian fintech firm Rasan intends to sell a 30% stake in its Riyadh initial public offering, making it one of the first companies from the sector to go public in the kingdom. Rasan and its investors will offer 22.7 million shares in the IPO, including 5.3 million new shares, according to a statement on Sunday. Bookbuilding for institutional investors will run from May 12 through May 16, while retail investors will be able to bid from May 29 to May 30.
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Saudi anti-corruption authority reveals details of recent cases
In one case, two Central Bank employees were arrested for receiving sums of money from a resident, who was also arrested, in exchange for depositing more than SR7.3 million ($1.95 million), without verifying the source, into bank accounts belonging to commercial entities over a two-year period. In another case, a security officer working at the General Department of Traffic was arrested for receiving SR387,000 from the owner of a public services office, who was also arrested, in exchange for illegally amending the essential data of a group of vehicles.
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