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  • The Saudi Cultural Mission’s New Headquarters
     

    The new SACM headquarters in Fairfax, Virginia provides a modern hub for Saudi Students in the United States, and stands as a symbol of the strong cultural relations between the United States and Saudi Arabia. Until recently, the future of the iconic Watergate hotel and office complex in Washington DC, which was the site of […]

     
  • With customs union, GCC edges toward closer economic ties
     

    Saudi Arabia, the biggest Arab economy, is leading moves toward political and economic cooperation, which it believes would give the mostly Sunni-led monarchies of the Gulf more power to withstand any confrontation with Shi’ite Iran. Closer business ties within the GCC, which consists of Saudi Arabia, the UAE, Kuwait, Qatar, Oman and Bahrain and has […]

     
  • Ramadan 1433
     

    Ramadan means more in the lives of Muslims than refraining from eating and drinking during the daylight hours. The ritual fasting during the holy month is among the five pillars of Islam: Shahadah, the declaration of faith; Salat, five daily prayers; Zakat, charitable giving; Hajj, the pilgrimage to Mecca; and Sawm of Ramadan, the ritual […]

     
  • Saudi car sales to hit $25 billion by 2013
     

    Saudi Arabia has ambitious plans to further expand its lucrative automobile industry. In 2011 alone, the Kingdom announced the sale of approximately 800,000 cars potentially increasing to 1 million vehicles per year by the end of the current decade. In this context, the country is planning to start manufacturing automobile parts by 2013 in addition […]

     
  • Muslims across the world prepare to observe Ramadan
     

    Muslims around the world begin fasting on Friday in observation of Ramadan, the holiest month in Islam when the faithful abstain from eating food or drinking water from sunrise to sunset…. Every year, identifying the start of Ramadan is like a waiting game; Islamic scholars must see the new crescent moon in the night skies […]

     
  • Gulf States Move to Diversify Income Sources
     

    Saudi Arabia, the world’s biggest oil exporter, has identified mining as a key investment area after oil and petrochemicals, and is spending an estimated $38 billion to develop two cities centered around mining…“The idea is to try and improve the range of benefits and advantages of doing business in the G.C.C. and in Saudi Arabia, […]

     
  • Moving forward with nationalisation in Saudi Arabia
     

    “Nitaqat represents an effort to introduce more incentives for companies to employ Saudis and in that sense it is an improvement on what went before,” says James Reeve, an economist at the local Samba Financial Group. “The reason you are hearing more complaints is probably because the system is being enforced with greater vigour.” Despite […]

     
  • More than half of GCC population under age 25
     

    The countries of the Gulf Cooperation Council (GCC) have a low population compared with other regions, totaling 45 million people in 2011, less than 1 percent of the global population, a recently published report read. The report, filed by Kuwait Financial Center (Markaz), highlighting the GCC demographic shift, said the region is young, with 54 […]

     
  • Saudi public sector’s bank credit rebounds
     

    Bank lending in Saudi Arabia is continuing at a generally brisk pace, the National Commercial Bank said in its “GCC Financial Market Quarterly” released Monday.The report said liquidity conditions supporting this credit expansion remain very benign. However, the growing economic confidence has begun to hit deposit growth somewhat and the annual pace of expansion decelerated […]

     
  • Jadwa Investment’s Saud June 2012 Inflation Report
     

    Jadwa Investment’s recently released June inflation report found year-on-year inflation for Saudi Arabia eased again in June, slipping to 4.9 percent from 5.1 percent in May, the first time it has been below 5 percent since August 2011. The Riyadh-based investment firm also found lower rental inflation caused most of the fall. Jadwa’s report is […]

     

MUST-READS

  • OPEC sticks to 2024 oil demand growth forecast but trims Q1 view

    OPEC on Tuesday stuck to its forecast for relatively strong growth in global oil demand in 2024, despite lower-than-expected use in the first quarter, saying travel and tourism would support consumption in the second half of the year.
    The Organization of the Petroleum Exporting Countries, in a monthly report, said world oil demand will rise by 2.25 million barrels per day (bpd) in 2024 and by 1.85 million bpd in 2025. Both forecasts were unchanged from last month.

  • Over 1.5 million pilgrims arrive in Saudi Arabia for annual pilgrimage

    Over 1.5 million pilgrims have so far arrived in Saudi Arabia for this year’s Hajj season, the Kingdom’s General Directorate of Passports announced on Tuesday. The directorate said that up until Monday, June 10, the number of pilgrims that entered the Kingdom through the air, land and sea ports reached 1,547,295.

  • Jonathan Rynhold: Israel’s Divided Politics

    At the beginning of this war, there was a very strong, unified sense of purpose. It was very clear to all Israelis, not only Israeli Jews, but also Israel's Arab citizens, what Israel needed to do. It needed to defeat Hamas and it needed to use a lot of military force to do that. That kind of bound the country together. The horizon of what you do afterwards was a long, long way off. Over the last few months, we have approached the critical elements where there is more disagreement.

  • Opinion: The US-Saudi Nuclear Agreement: Regional Implications

    Saudi Arabia’s nuclear energy ambitions have been relatively slow compared to the UAE. After establishing the King Abdullah City for Atomic and Renewable Energy in Riyadh in 2010, Saudi officials announced plans to construct 16 nuclear reactors to generate 20 percent of the kingdom’s electricity by 2032. By 2017, the Saudi National Atomic Energy Project outlined a civil nuclear program featuring large nuclear power plants, small modular reactors, and fuel cycle activities. Despite this ambitious vision, progress on small modular reactor projects has been slow, with plans now including just two large nuclear power reactors.

  • Tiger Woods on state of PGA Tour-Saudi negotiations: “We all want the same thing”

    In a wide-ranging if brief media session on Tuesday morning, Tiger Woods touched on a range of topics, and Woods’ prevailing emotion was optimism … whether or not it’s grounded in reality. Woods is attempting two distinct, extraordinarily difficult feats: returning to major-winning ways after catastrophic injury at age 48, and trying to hold together a professional game that appears in danger of fracturing completely in two.

  • Hajj 2024: Saudi Arabia braces for extreme heat

    This year's Islamic Hajj pilgrimage — which starts on June 14 — will not only be a once-in-a-lifetime experience for some 2 million Muslims from around 180 countries who travel to Saudi Arabia, it will also be a physical challenge as temperatures will be above average. "The expected climate for Hajj this year will witness an increase in average temperatures of 1.5 to 2 degrees [Celsius] above normal in Mecca and Medina," national meteorology center chief Ayman Ghulam said last week. For Mecca, which is at the heart of the five-day Hajj pilgrimage, the increase likely spells an average temperature of around 44 degrees Celsius (111 degrees Fahrenheit).

  • Saudi Arabia plans to upgrade 113 water projects

    The Saudi government-backed National Water Company (NWC) is seeking private investment this year to upgrade 113 existing water and sewage treatment plants, which will have a total capacity of 2.4 million cubic meters per day.
    As part of its long-term operation and maintenance programs, NWC signed a 15-year contract worth $148 million (Dh543 million) with Spain’s Aguas de Valencia Company to rehabilitate, operate, and maintain sewage treatment plants in the Taif region.

  • Saudi Aramco announces completion of secondary share sale for $11.2 bln

    Saudi Aramco (2223.SE), opens new tab has completed a secondary share sale raising $11.23 billion, the oil company and the Saudi government said in a statement on Tuesday.

  • Over a year in making, Aramco stake sale brings rare foreign investment to Saudi

    Saudi Arabia began preparing more than a year ago to sell a new chunk of state oil giant Aramco (2222.SE), opens new tab, targeting foreign investment that has lagged goals for years and is needed for an ambitious economic transformation.
    The preparations led by CEO Amin Nasser paid off.
    Over half of the $11.2 billion Aramco shares were sold to foreign investors, a far cry from five years ago, when they largely shunned its $29.4 billion initial public offering, citing concerns about risks around governance, regional geopolitics and the environment.

  • Saudi Utility Plans $1.9 Billion Stock Sale to Fund Spending

    Saudi Arabia’s Acwa Power Co. is planning to raise 7.1 billion riyals ($1.9 billion) by issuing stock to existing shareholders, capitalizing on a sixfold increase in its share price since a 2021 listing.