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Official White House, Saudi Statements on Iran Deal
U.S. President Barack Obama spoke with Saudi Arabia’s King Salman by phone on Tuesday to discuss the results of the P5+1 negotiations over Iran’s nuclear program. President Obama also expressed his condolences over the recent passing of HRH Prince Saud al-Faisal. According to a readout by the White House, President Obama “shared details of the Joint Comprehensive […]
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Secretary of State John Kerry Issues Statement on Passing of HRH Prince Saud al-Faisal
U.S. Secretary of State John Kerry issued a statement today expressing condolences for HRH Prince Turki al-Faisal. “Teresa and I join with my colleagues, past and present, across the United States government in expressing our deep sadness at the passing of Prince Saud Al Faisal, who served as Foreign Minister of Saudi Arabia for more […]
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Improvement in Demand, Slowdown in Shale Output Push Oil Market Prices Up 13% in 2Q 2015: Jadwa Investment
Oil prices are rebounding steadily following a low point at the beginning of 2015, according to a recently released analysis of the oil market by Riyadh-based Jadwa Investment. Jadwa Chief Economist Dr. Fahad Alturki said that a general improvement in oil demand and slowdown in the rate of growth in US shale oil output combined […]
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Three Saudi Brothers Arrested in Connection with Mosque Bombing in Kuwait
Three Saudi brothers have been arrested in connection with a suicide bombing at a Shi’ite mosque in Kuwait last month, according to Saudi and Kuwaiti authorities and as reported by the Reuters news agency. “The three brothers were ‘parties to the crime of the sinful terrorist bombing that targeted the Imam al-Sadeq mosque in Kuwait,’ the SPA state news […]
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Oil sector pushes up overall growth for Saudi Arabia in 1Q 2015 – Jadwa Investment
According to a recently released report by Jadwa Investment, the Saudi economy saw 2.4% year-on-year growth in real terms in the first quarter of 2015. “The acceleration was mainly attributed to the oil sector, which grew following two consecutive quarterly declines,” Jadwa writes. “We assume that year-on-year economic growth will reach similar levels in the […]
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Opening of New Terminal at Prince Mohammed Bin Abdulaziz International Airport (PMIA) in Medina Shows Possibility of Public-Private Partnerships in Saudi Arabia
The General Authority of Civil Aviation (GACA) and Tibah Airports Development Company today announced the opening of the new terminal at Prince Mohammed Bin Abdul Aziz International Airport (PMIA) in Madinah Al-Munawarah, Kingdom of Saudi Arabia, according to a press release. The opening of the new terminal at Prince Mohammed Bin Abdulaziz International Airport (PMIA) […]
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Saudi Arabia Tops List of Military Spending as Percentage of Overall GDP
Saudi Arabia’s military budget grew by 17 percent last year, and the military now amounts to at least 10.4 percent of the kingdom’s GDP, according to an estimate from SIPRI. That is by far the largest military spending by GDP in the world. According to an infographic of the SIPRI data done by Forbes and […]
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Oil Prices and the Saudi Stock Exchange (Tadawul)
A recently released report by Jadwa Investment, entitled, “Oil Prices and the Saudi Stock Exchange (Tadawul),” examines both the real and sentimental changes in the Saudi stock market as a result of lower oil prices. “With Saudi Arabia being a predominantly oil-based economy, major changes in the price of oil are likely to be followed by […]
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Saudi Oil Export Revenues Down 46% in 2015 as Drawdown on Net Foreign Assets Continues
Saudi Arabia exported 1.4 billion barrels of oil in the first half of the current year for a total revenue value of SAR305 billion ($81.33 billion), according to latest figures. These revenue figures are down about 46% from the same period last year. The Kingdom also consumed about 23% of all the oil it produced for […]
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Laughing Off Daesh Threats: Saudi Comedian Uses Satire Against Self-Described Islamic State
A Saudi comedian threatened with beheading by Islamic State supporters on social media, and accused of apostasy by a Saudi Imam, says he will continue to use humor as a tool against the extremist group. Nasser al-Qasabi is a 53 year-old Saudi comedian. A recent sketch, entitled ‘Selfie’, which aired on the Saudi television channel MBC, […]
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Saudi Arabia braced for heavy rainfall, Civil Defense issues warning
Saudi Arabia is set to receive more rainfall toward the weekend, with Riyadh and its outskirts likely to witness heavy rains from Friday to next Tuesday. In addition, the National Center for Meteorology said on Tuesday: “May forecasts indicate a chance of higher than average rainfall.” More rain is forecast this week in Makkah, Jazan, Aseer, Al-Baha, the Eastern Province, and regions in Riyadh, the NCM added.
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Blinken planning to visit Saudi Arabia this weekend
Blinken is expected to participate at a special meeting of the World Economic Forum that will take place in Riyadh on April 28-29, the sources said. U.S. officials say Blinken is also considering traveling to Israel as part of this trip and meeting with Prime Minister Benjamin Netanyahu and other senior officials.
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Saudi Arabia’s cinema revenue soars to over $986 million in just six years
Saudi Arabia’s cinema industry has generated revenue of SAR3.7 billion ($986.42 million) just six years after the opening of its first cinemas. According to government data from the General Authority of Media Regulation, the industry sold from April 2018 to March of the current year, over 61 million tickets, screening a total of 1,971 films, including 45 local productions. This growth highlights the rapid adoption of cultural activities in Saudi Arabia, aligning with the goals of Vision 2030 to diversify the economy and improve the quality of life.
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Saudi ministry shuts 67 erring hospitality facilities in 3 months
The Ministry of Tourism has shut down as many as 67 tourism hospitality facilities, including hotels and residential apartments, across the Kingdom during the first three months of 2024. The punitive measures were taken after detection of various violations during inspection tours carried out by the ministry officials, the Saudi Press Agency reported.
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Inside the White House’s Scramble to Avert a Bigger Middle East War
Over the course of 19 days, U.S. officials raced to contain escalating tensions between Israel and Iran amid a series of attacks. WSJ’s Michael R. Gordon on what was going on behind the scenes as the White House worked to prevent a bigger conflict.
- Saudi Arabia’s King Salman in hospital for routine check up – TV
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Israel’s Iran attack carefully calibrated after internal splits, US pressure
Israel's apparent strike on Iran after days of vacillation was small and appeared calibrated to dial back risks of a major war, even if the sheer fact it happened at all shattered a taboo of direct attacks that Tehran broke days earlier.Prime Minister Benjamin Netanyahu's war cabinet had initially approved plans for a strike on Monday night inside Iranian territory to respond forcefully to last Saturday's missile and drones from Iran, but held back at the last-minute, three sources with knowledge of the situation said.
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Perspective: Newcomers Bring New Rules
The world’s challenges are increasingly complex. Borders could not stop the spread of the Covid-19 pandemic, but Russia’s 2022 invasion of Ukraine demonstrated that the kinds of national wars that characterized the 20th century were still relevant. Ideology has faded, and the states of the Global South have grown larger and wealthier. They now expect a larger share of the global pie. While cooperation has become more necessary, the world has entered an era of increased national contestation.
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Saudi Aramco in talks to buy 10% of China’s Hengli Petrochemical
Saudi oil giant Aramco said on Monday it is in talks to acquire a 10% stake in China's Hengli Petrochemical (600346.SS), opens new tab, a deal which would further bolster Aramco's growing downstream presence in China.Aramco (2222.SE), opens new tab is in talks with parent Hengli Group Co and signed a memorandum of understanding over the proposed transaction, which is subject to due diligence and regulatory approvals, Aramco said in a statement.
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The Importance of Venture Capital for Startups in Saudi Arabia
Startups are a critical component of the 21st-century economy, driving innovation, creating jobs, and fostering national economic growth. In Saudi Arabia, venture capital (VC) is gaining increasing importance in supporting startups and enabling them to grow and thrive. In this article, we'll explore the importance of venture capital for startups in Saudi Arabia and its impact on the national economy.
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