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Diriyah Contemporary Art Biennale, First of its Kind in Saudi Arabia, Announces Artists
The upcoming Diriyah Contemporary Art Biennale – the first art event of its kind to be held in Saudi Arabia – announced participating artists for the exhibition called Feeling the Stones, according to a report in The Art Newspaper. The event is scheduled to take place starting December 11 and running for three months, concluding March 11, 2022.
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Bloomberg Report: Saudi Arabia Continues to Combat Pandemic with ‘World’s Toughest Rules’
Since the start of the global pandemic last year, Saudi Arabia’s authorities and leadership have implemented progressive policies to help the Kingdom mitigate the spread of the Coronavirus within its borders. From imposing strict fines for individuals and businesses who flaunt rules on mask mandates and distancing requirements to shutting down international travel, and even all but cancelling […]
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Saudi Arabia’s Public Investment Fund Raises Stake in California-Based Activision Blizzard Inc.
Saudi Arabia’s Public Investment Fund (PIF) significantly increased its stake in California-based entertainment and games company Activision Blizzard Inc. last quarter, buying 37.9 million shares with a market value of $3.6 billion, according to Bloomberg.
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Saudi Aramco Joins ACWA Power, Others in $1 billion Sudair Solar Power Plant Development
A consortium that is developing Saudi Arabia’s largest solar project has reached financial close for the nearly $1 billion plant, and has secured the backing of state oil producer Saudi Aramco, according to Bloomberg. According to the report, Aramco, through a unit called The Saudi Aramco Power Company (SAPCO, will hold a 30% stake in the […]
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Saudi Issues Record Number of Foreign Investor Licenses in a Single Quarter, MISA Says
Saudi Arabia’s Ministry of Investment (MISA) reported issuing 478 new licenses in the first quarter of 2021, “the most number in a single quarter since records began in 2005” and a 36% increase from the same quarter last year, according to reports.
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‘All Around the Region, Iran Continues to be Emboldened,’ Saudi Arabia’s Foreign Minister Says at Virtual Forum
Saudi Arabia’s foreign minister Prince Faisal bin Farhan al Saud said on Tuesday he sees an emboldened Iran acting with increased malign intent in the region in an appearance at a virtual gathering of the Aspen Security Forum. “All around the region, Iran continues to be emboldened,” Prince Faisal bin Farhan said. “Iran is extremely active in […]
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Saudi Arabia Suspends Privatization of the $2 Billion Ras Al Khair Desalination and Power Plant – Reports
Saudi Arabia has suspended the privatization plans for the Ras Al Khair desalination and power plant, valued at an estimated $2 billion, according to reports.
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Saudi Arabia Vaccination Drive Accelerates as Toll Passes 8,000 in Kingdom, Deadline Looms
Saudi Arabia’s daily Coronavirus vaccination rates passed 400,000 as the government continued to emphasize the importance of the jab ahead of a key deadline in which citizens and residents will need to prove they have received the vaccine to take part in many normal daily activities.
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Kingdom’s Net Foreign Assets Fall Again, but Higher Oil Prices Should Lift Reserves in Coming Months
Saudi Arabia’s net foreign assets fell again in May by 0.8% after reaching a 10-year low last month, according to reports, but higher oil prices should boost government figures in the coming months as the Kingdom ramps up production to meet demand.
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Will Oil Reach $100 Soon? Traders, Industry Execs See Oil Rising Higher
In April last year, at the height of the pandemic crisis that touched every corner of the globe, oil prices collapsed in a spectacular fashion as demand plummeted and supply continued apace, leaving suppliers in some cases without a place to store their excess crude oil. US oil prices plunged, falling below $0 to $-37.63 a barrel – […]
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MUST-READS
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Is Russia really siding with the UAE against Iran?
Still, it is essential not to exaggerate the significance of the Russia-GCC joint statement on resolving the Iran-UAE dispute. As both Moscow and Tehran are fully aware, Iran will not enter into negotiations with the UAE, much less allow the International Court of Justice, to arbitrate their dispute. The Russia-GCC joint statement does nothing to alter the fact that Iran remains in control of the three islands and is likely to remain so.
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What’s ahead for the Wagner Group in Africa and the Middle East?
Ukraine aside, the Wagner Group has sent mercenary deployments to Syria, Libya, Mozambique, Mali, the Central African Republic, and Sudan. Unconfirmed rumors have been swirling about Wagner’s presence in the Democratic Republic of the Congo. Wagner also maintains logistical, support, smuggling, and money laundering affiliates and subsidiaries in the United Arab Emirates. Through a vast network of intermediaries and shell companies, its business, commodity-extraction, and disinformation operations span even more countries.
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With Messi in MLS and Ronaldo in Saudi Arabia, is a battle for star players emerging?
Messi turned down the Saudi money for the Miami lifestyle (…and also a lot of money) to choose Inter Miami, but he’s in the minority now.
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Saudi deal frustrations? Jay Monahan? Rewards? Jon Rahm opens up
“I still think they have the best interest of the players at heart. All we have right now, it’s a framework agreement. It’s an agreement to have an agreement. We really don’t have anything right now to be able to say or judge what they’ve done. That’s all I can say.”
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Will China ever get rich? A new era of much slower growth dawns
China is entering an era of much slower economic growth, raising a daunting prospect: it may never get rich. Whether the world's second-largest economy chugs ahead at 3-4% annually or flirts, as some economists expect, with Japan-like "lost decades" of stagnation, it looks set to disappoint its leaders, its youth, and much of the world. Policymakers hoped to narrow China's development gap with the United States. Young Chinese went to universities to study for advanced-economy jobs. Africa and Latin America count on China buying their commodities.
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Opinion: A Saudi-American Alliance?
America, after all, has the military power already in place in the Gulf to establish deterrence, but its lack of will to exercise that power recently has resulted in its being seen as a paper tiger by adversaries. Only an ironclad commitment by the United States to come to the aid of Saudi Arabia should the latter be attacked will encourage Saudi Arabia to resume its position under the American umbrella.
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Can Kuwait Get Its Oil Strategy Back on Track?
The Kuwait Petroleum Corporation has been unable to reach its 2020 oil exploration and production capacity targets, and the Al-Zour refinery project has been beset by delays, leading to billions of dollars in unrealized revenue. As consumers turn away from fossil fuels – a process accelerated by the Ukraine war – Kuwait runs the risk of leaving part of its untapped hydrocarbon resources in the ground.
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What’s Next for Israel’s Judicial Overhaul and Netanyahu?
They call it “salami tactics.” Critics of the plan by Israel’s right-wing government to overhaul the country’s judiciary accuse Prime Minister Benjamin Netanyahu of slicing up the original legislative package in a bid to make it more palatable. Some protesters made that point by brandishing giant plastic salamis during large-scale protests on Tuesday.
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Will Iran vs. Kuwait-Saudi Arabia on gas field turn into trilateral deal?
Kuwait and Saudi Arabia have “rejected” Iranian plans to commence drilling in a shared gas field. The contention over the offshore natural resource is rooted in the lack of demarcated maritime boundaries between Iran and Kuwait. While rival claims to the field have been longstanding, the dispute has gained prominence as Iran is pursuing rapprochement with both Kuwait and Saudi Arabia.
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Opinion: A grand US-Saudi bargain? The cost of ties with Israel
“The recent near-hysteria in Congress over a private business arrangement merging two professional golf associations, the US-based PGA and the Saudi-sponsored LIV Golf, underscores the strength of Saudi-phobia in the Congress and would certainly bear on any debate over the consequential Saudi demands,” Feierstein told TNA.
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