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  • Hamas names Oct 7 mastermind Sinwar as leader after Haniyeh assassination

     Hamas named its Gaza leader Yahya Sinwar as successor to former political chief Ismail Haniyeh, who was assassinated in Tehran last week, the group said on Tuesday, in a move that reinforces the radical path pursued since the Oct. 7 attack on Israel. Sinwar, the architect of the most devastating attack on Israel in decades, has been in hiding in Gaza, defying Israeli attempts to kill him since the start of the war.

  • Aramco to become majority shareholder in Petro Rabigh, an integrated refining and petrochemical complex in Saudi Arabia

    Aramco, one of the world’s leading integrated energy and chemicals companies, has signed a definitive agreement to acquire an additional stake of approximately 22.5% in Rabigh Refining and Petrochemical Co. (“Petro Rabigh”), the refining and petrochemical complex located on the Kingdom of Saudi Arabia’s west coast, from Sumitomo Chemical for $702 million.

  • Saudi delivery drivers bake in ‘deadly’ summer heat

    Gulping a bottle of cold water as the mercury neared 50 degrees Celsius (122 degrees Fahrenheit), the motorcycle driver said he was well aware the Gulf kingdom's harsh summer heat could be fatal. Yet only by pushing through and filling the daily blitz of food orders will he earn enough money to send something back home, his main reason for coming to Saudi Arabia in the first place.

  • Saudi Aramco’s Production Policy Is Weighing on Its Stock Price

    The report noted, however, that Aramco is a very different company from either Exxon or Shell because it is still majority-owned by the Saudi state, which can direct corporate strategy and is indeed doing just that. It’s worth noting that from a certain perspective, Aramco’s production cuts helped keep prices above a certain level, helping Exxon, Shell, and the rest of Big Oil keep posting higher results.

  • Saudi Aramco Q2 profit drops 3.4 percent on lower volumes, refining margins

    Oil giant Saudi Aramco on Tuesday reported a 3.4 percent fall in second-quarter profit on lower crude volumes and softer refining margins. Aramco posted second-quarter net income of 109.01 billion riyals ($29.03 billion) in the three months to June 30, beating a company-provided median estimate from 15 analysts of $27.7 billion.

  • Houthis step up pressure on foreign organizations in Yemen

    Amid continued British-US airstrikes in Yemen, the Ansarullah movement—better known as the Houthis—has significantly intensified its intimidation tactics in the country. Since May 31, the group has arbitrarily arrested UN staff as well as employees of international and national organizations operating in Sana’a. Moreover, in June, the Houthis declared that they had detained an “American-Israeli” spy cell “directly linked to the CIA”—accusing those arrested of engaging in “espionage and sabotage in both official and unofficial institutions.” They subsequently broadcasted what appeared to be forced confessions from ten former employees of the US embassy, which closed its operations in 2015.

  • Saudi Arabia announces major labour law changes; maternity leave extended, new notice rules, more paid leave

    Wide ranging changes include the extension of maternity leave, paid leave for the death of a sibling and defined notice periods for indefinite contracts. The Ministry of Human Resources and Social Development indicated that the recent amendments to several articles of the labour law, approved by the Cabinet session on Tuesday, August 6, will contribute to creating a more attractive work environment for employees and achieving sustainable development, in line with the goals of Saudi Vision 2030.

  • The road ahead for banks in the GCC region: 7 priorities

    The financial sector in the Gulf Cooperation Council (GCC) has managed to outperform the global average on several financial metrics, according to the McKinsey & Company study, including on return on equity (by three or four percentage points), margins, and cost-to-asset ratios.

  • Saudi Arabia mitigates environmental damage by recycling 100,000 electronic devices

     Saudi Arabia has managed to recycle more than 100,000 electronic devices so as to reduce their environmental damage and build a sustainable digital future that supports efficient use of resources. The Kingdom’s collaborative efforts with the International Telecommunication Union (ITU) to develop e-waste management regulations in three countries stand out with the aim of turning major challenges into opportunities and helping these countries adopt the best sustainable solutions.

  • Saudi Arabia is now self-sufficient in fig production, says agriculture ministry

    Saudi Arabia has achieved self-sufficiency in fig production, with annual output exceeding 28,000 tonnes on 1,421 hectares of land across the country, the Ministry of Environment, Water and Agriculture has announced. In a statement posted on its website over the weekend, the MEWA said Jazan and Riyadh are the biggest producers with annual production in tonnes of 9,906 and 8,010, respectively.