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Adding to Growing List of Natural Treasures, ‘Desert Fish’ Rock Formation Discovered in Al-Ula
The recent discovery of a giant fish-shaped rock emerging from the sands of the Saudi desert near Al-Ula adds to a growing collection of natural wonders in Saudi Arabia.
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Virginia-Based Bechtel Corp. Wins Contract to Provide Project Management Consultancy Services for NEOM’s TROJENA
Virginia-based Bechtel Corporation has been appointed as the Project Management Consultant for TROJENA, a year-round mountain destination in the NEOM region of northwest Saudi Arabia, the company confirmed in a press release.
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An ‘Aerotropolis’: Saudi Arabia Plans to Build One of the World’s Largest International Airport’s in Riyadh Named After King Salman
Saudi Arabia plans to build one of the world’s largest airports in the capital Riyadh, named after King Salman, which will be capable of handling 185 million passengers a year and eventually powered by renewable energy, according to a statement from Saudi Arabia’s Public Investment Fund and reported widely by news outlets.
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Data Show Foreign Direct Investment Inflows into Saudi Arabia Falls 85% in Second Quarter on 2021 Aramco Deal
Saudi Arabia recorded second-quarter foreign direct investment (FDI) inflows down 85% year on year, an investment ministry report showed on Tuesday, with the reason for the significant drop attributed to the closing of state-owned Saudi Aramco’s IPO deal in the second quarter of 2021.
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Crown Prince Heads to G20 in Indonesia as Chinese Leader Xi Jinping Reportedly Eyes December for Saudi Visit
Crown Prince Mohammed bin Salman of Saudi Arabia will represent the Kingdom at the G20 in Indonesia at this year’s meetings, and will visit other Asian countries as part of the trip, state news agency SPA reported.
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Saudi Arabia Sees Traction with Green Initiatives as Kingdom Climbs Ranks of MIT’S Green Future Index
Saudi Arabia advanced 10 places in the second edition of the Green Future Index, issued by MIT Technology Review, evidence that the Kingdom is seeing progress in its goals outlined in the new Saudi Green Initiative announced by Crown Prince Mohammed bin Salman last year.
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Saudi Ambassador to United States Reema bint Bandar Al Saud Joins CNN for Extensive Interview
Princess Reema bint Bandar Al Saud, Saudi Ambassador to the United States, sat down with CNN’s Becky Anderson in her first televised interview with international media since becoming the ambassador in early 2019.
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Riyadh Season Prepares for Oct. 21 Launch with Slogan ‘Beyond Imagination’, Cirque du Soleil Show
The expanded third edition of Riyadh Season will kick off on October 21st 2022 under the slogan “Beyond Imagination” with an international show by Cirque du Soleil, the General Authority for Entertainment has announced.
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Is Saudi Arabia Just at the Beginning of its Heritage and Antiquities Discoveries?
Saudi authorities indicated that the Kingdom has only begun to discover important cultural and heritage sites and artifacts across Saudi Arabia, with Heritage Commission CEO Dr. Jasser Bin Suleiman Al-Harbash stating that archaeological sites, which have been discovered in the Kingdom, constitute only 15% of Saudi Arabia’s treasures.
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Report – Saudi NEOM’s Tech Unit Rebrands as Tonomous and Will Invest $1 billion in 2022
NEOM Tech & Digital, a subsidiary of the $500 billion signature NEOM project of the Saudi crown prince, has invested $1 billion in 2022 in AI, including a metaverse platform, its chief executive said on Tuesday, according to a Reuters report.
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MUST-READS
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Amjad Iraqi: The Future of Palestinians in Israel
Amjad Iraqi: It's definitely been quite a complex experience. I think first of all, Gaza's not just sort of an imaginary construct for Palestinian citizens. There are very real family connections, community connections, and Palestinian history. Gaza is, and has always been, very much the center of Palestinian identity and politics and culture. And so, to experience it in this moment whereby you're seeing Gaza decimated in the way that it's been, I think has been very profoundly shocking to Palestinian citizens as much as it has to other Palestinians.
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Cruise Saudi expanding to 10 destinations along Red Sea coast, 3 new ports underway
Currently operational ports include Jeddah, Yanbu, and Dammam, which have already facilitated visits from hundreds of thousands of international tourists. Among the new developments is AlWajh, which Clasen revealed will serve as a gateway to AlUla, plus a private island and beach location exclusively for cruise passengers.
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Saudi Arabia Turns to Debt Markets for Vision 2030 Financing
According to Saudi Arabia’s National Debt Management Center, the kingdom’s total debt stood at some $308.7 billion at the end of September. Of this total, $183.7 billion was domestic debt, and the remaining $125 billion was foreign debt. Compared to U.S. debt, this is nothing. But compared to 2019 debt levels, it is a palpable increase: in 2019, Saudi debt stood at $180.8 billion.
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Saudi sees tenfold surge in foreign firms since 2016
Saudi Arabia has seen a sharp increase in foreign firms establishing operations in the country, with numbers rising tenfold compared to the period before Saudi Vision 2030, the kingdom’s mammoth economic diversification plan, was launched in 2016, said Khalid al-Falih, Saudi Arabia’s Minister of Investment, at the Future Investment Initiative (FII).
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Saudi crown prince meets with global leaders including Pakistani PM, Jordanian counterpart
Saudi Crown Prince Mohammed bin Salman met with Prime Minister Shehbaz Sharif of Pakistan on Tuesday, Saudi Press Agency reported. The prime minister and his accompanying delegation are in the Kingdom to attend the Future Investment Initiative conference. During the conference, Sharif shared with attendees his government was looking forward to forging new partnerships in artificial intelligence (AI), education and health.
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Saudi Arabia’s Renewable Energy Initiatives and Their Geopolitical Implications
One approach Saudi Arabia has adopted is investing heavily in renewable energy, particularly through partnerships with China. This has had the effect of accelerating the country’s progress in renewable energy, with far-reaching implications for global geopolitics and energy markets. Specifically, Saudi Arabia is increasingly becoming aligned with China while China is gaining greater access to Middle Eastern markets and greater regional influence.
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Franklin Templeton launches two Saudi Arabia funds
Saudia Arabia also has the largest and fastest-growing bond market among Golf Cooperation Countries, hence its launch of the the Franklin Saudi Arabia Bond fund, which will invest in debt securities and obligations issued by government and corporate entities in the region. Its second product, the Franklin FTSE Saudi Arabia UCITS ETF, will track the FTSE Saudi Arabia 30/18 Capped index, which consists of 64 large and mid-cap Saudi Arabian equities. Dina Ting and Lorenzo Crosato will managed the fund.
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Following Israeli counterstrike on Iran, region appears to pull back from the brink
After last weekend’s limited Israeli strike on Iran, and Tehran’s apparent willingness to absorb the blow without serious retaliation, the Middle East region looks to be pulling back from the brink of a major regional war. Credit must be given to the US administration, which worked hard to convince the Israeli government to not hit nuclear and energy targets as well as avoid a strike so large that it would necessitate an Iranian retaliation. The Israeli decision to choose a path that would avert further escalation with Iran has raised hopes that, after more than a year of war, perhaps Prime Minister Benjamin Netanyahu is winding down this round of warfare.
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Trump’s Commercial Influence in the Gulf
Eric Trump, the executive vice president of the Trump Organization, stated that his father “loves” the United Arab Emirates and hopes to visit on an official trip if reelected in the upcoming U.S. presidential election. The UAE president, Mohammed bin Zayed al-Nahyan, recently visited the Republican presidential candidate, former President Donald J. Trump, as part of his official visit to the United States in late September. Whether or not Trump wins the presidency for a second time in November, his brand – and varying degrees of commercial influence – will remain a visible feature of the Gulf region.
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Syrian national airline resumes flights to Saudi city of Jeddah after eight-year pause
The Syrian regime’s transport ministry announced on Sunday that national carrier Syrian Air’s flights from Damascus to the Saudi city of Jeddah would resume, 18 months after Saudi Arabia and the regime normalised ties. Flights will restart again on 7 November, according to the regime’s SANA news agency, and will operate twice weekly. These will be the first commercial flights from Damascus to Jeddah for over eight years. Flights are already operating between Damascus and the Saudi capital Riyadh.
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