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  • BBC Travel Profiles Asir’s ‘Flower Men’, Natural Beauty as Kingdom Eyes Tourism Push
     

    A recently published story in the BBC highlights the unique culture and natural beauty of the Asir province in Saudi Arabia, whose male inhabitants don colorful and ornate head dresses made of local flowers. The U.K.-based news service traveled to Asir province in the south of the Kingdom, one of the least traveled places in Arabia by Western […]

     
  • Oil Continues Rebound as OPEC, Russia Eye Production Cut Agreement
     

    The price of oil on international indices has rebounded for a second straight trading day after leaders from Saudi Arabia and Russia indicated that production cuts were likely to stabilize oversupplied markets, according to reports. But while sentiment appears to indicate a looming decision to cut production by OPEC members and Russia at a meeting in Vienna, […]

     
  • Saudi Arabia to Host G20 Summit Meetings in 2020
     

    The final communiqué of the G20 summit, which concluded this weekend in Buenos Aires, Argentina, confirmed that Saudi Arabia will host the summit in 2020. Hosting the major event involving the world’s largest economies is an opportunity for the Kingdom to showcase Saudi’s standing as a key player in the G20 and a force for economic stability. Saudi […]

     
  • Donald Trump Affirms Solidarity with Saudi Arabia in Written Statement as Top Senators Vow Further Action
     

    President Donald Trump vowed on Tuesday to remain a ‘steadfast partner’ of Saudi Arabia despite saying that Saudi Crown Prince Mohammed bin Salman may have known about the plan to murder dissident journalist Jamal Khashoggi last month. “This is an unacceptable and horrible crime,” President Trump said in the statement, but added, “our relationship is with […]

     
  • Unemployment Unchanged in Saudi Arabia in Latest Labor Market Report
     

    Unemployment in Saudi Arabia remained unchanged in the latest government estimated figures, according to a recently released report by Jadwa Investment on the Saudi labor market. The latest General Authority for Statistics (GaStat) labor market release for Q2 2018 shows that unemployment rate remained unchanged, at 12.9 percent, for the second consecutive quarter. However, the […]

     
  • Special Economic Zone Created at Riyadh Airport to Attract Investment; New Jazan Project Launched
     

    Saudi Arabia announced the establishment of a special economic zone around Riyadh’s airport to draw more foreign investment, Reuters reports, citing the Saudi Press Agency (SPA). The zone, which will be located in King Khalid International Airport in Riyadh, will “focus on integrated logistics and enjoy special rules and regulations aiming at attracting more multinational companies […]

     
  • Secretary of State Mike Pompeo Visits Saudi Arabia, Meets with King, Crown Prince
     

    US Secretary of State Mike Pompeo held separate talks with King Salman and Crown Prince Mohammed bin Salman on Tuesday in Riyadh as the situation over missing journalist Jamal Khashoggi continues. According to CNN, Pompeo had a short discussion with King Salman before a longer meeting with Crown Prince Mohammed bin Salman. US State Department spokeswoman Heather […]

     
  • IMF Lifts Projections for Economic Growth for Saudi Arabia
     

    In its World Economic Outlook, the International Monetary Fund (IMF) on Tuesday lifted its projections for economic growth in Saudi Arabia, the region’s biggest economy, and its oil-rich neighbors in the Gulf – while also predicting that Iran’s economy will suffer due to renewed US sanctions. The Saudi economy is expected to grow by 2.2 percent […]

     
  • Bloomberg Lands Another Wide-Ranging Sit-Down Interview with Crown Prince Mohammed bin Salman
     

    Bloomberg‘s reporting team in Saudi Arabia landed another wide-ranging sit down interview with Saudi Arabia’s Crown Prince Mohammed bin Salman, revealing the powerful leader’s thinking on many issues from Vision 2030 to the Saudi Aramco IPO and others. Bloomberg’s Senior Executive Editor for Economics, Stephanie Flanders, and five other Bloomberg journalists sat down with the […]

     
  • Kingdom’s Finances Trending Positively as Higher Oil Enables Government to Increase Spending by 7% in 2019
     

    Saudi Arabia’s Minister of Finance told reporters in Riyadh on Sunday the Kingdom would accelerate state spending next year in what he hopes will be a clear message to the private sector that the government is determined to support economic growth, according to reports. Saudi Arabia may spend SAR 100 billion ($26.6 billion) more than originally planned in 2019 […]

     

MUST-READS

  • Hamas faces dissent in Gaza as heavy toll weakens support for war, a year on

    “Despite all the hardships, our life was going well. We had jobs, houses and a city,” said Samira, 52, who declined to give her family name for fear of retaliation. Samira describes Israel as “our prime enemy…the source of all our ills” but she also blames Hamas' leader Yahya Sinwar, the mastermind of the Oct. 7 attacks, for what she sees as a huge miscalculation. "What was he thinking? Didn't he expect that Israel would destroy Gaza?" she said.

  • A year of escalating conflict in the Middle East has ushered in a new era of regional displacement

    Israel’s ongoing attacks have forced nearly 2 million Palestinians to flee their homes in Gaza over the past year, amounting to 9 in 10 inhabitants of the densely populated strip. What is unique about the scale of the displacement in Gaza is that nearly all internally displaced persons remain trapped, unable to leave the territory amid Israel’s ongoing border closure and bombardment. This has intensified cascading humanitarian crises, including famine and the spread of disease, along with countless other hardships that make normal life nearly impossible. For many Palestinians in Gaza, the yearlong bombardment has meant repeated displacement as Israeli attacks shift from area to area, amid shrinking humanitarian spaces.

  • Saudi Arabia’s PIF to Take 40% Share in Selfridges Stores

    The PIF will take a 40% stake in both the property and operating businesses of Selfridges, according to an emailed statement from current co-owner Central Group. The Thai retail conglomerate will own a 60% stake, with the deal including new investment from both shareholders to shore up Selfridges’ financial position. The PIF has signed a binding agreement for a total buyout of Signa’s interest in the department store chain, the statement said. The terms were not disclosed.

  • High-level Saudi delegation to visit Pakistan from Oct. 9-11 amid Islamabad’s investment push

    Saudi Arabia’s Investment Minister Khalid bin Abdulaziz Al-Falih will visit Pakistan with a high-level delegation from Oct. 9-11, Pakistan’s foreign office spokesperson said on Monday, stressing that the visit would aim to enhance bilateral cooperation and economic partnership between the two allies.  Pakistan and Saudi Arabia have been closely working in recent months to increase bilateral trade and investment deals, with Crown Prince Mohammed bin Salman reaffirming the Kingdom’s commitment to expedite an investment package of $5 billion to the South Asian country earlier this year.

  • Israelis, Palestinians Face New Realities After Oct. 7

    Gallup surveys conducted in Israel and in the West Bank and East Jerusalem tell stories of people struggling to adjust to changing realities since Hamas attacked Israel a year ago and the Israel-Hamas war began.

  • Saudi Camel Owners Shine at This Year’s Camel Racing Federation Cup

    Saudi camel owners continue their strong performance at the fourth edition of the Saudi Camel Racing Federation Cup, held in Najran from October 1 to 5. So far in the competition, Saudi Arabia secured 10 cups, the UAE claimed five cups, and Qatar won one cup. Saudi camels also led in the overall standings, winning 71 out of 104 rounds held over the four days. Qatar came in second with 14 rounds, followed by the UAE with 12. Kuwait and Bahrain each won three rounds, while Oman secured one round.

  • National heritage will be ‘biggest driver’ of Saudi economy

    National heritage will be the biggest driver of the economy under Saudi Vision 2030, said Prince Sultan bin Salman, special adviser to King Salman and founder and chairman of the nonprofit Al-Turath (Heritage) Foundation. He was speaking at the foundation’s annual meeting held under the theme “Confident Steps Toward the Future” at the Riyadh International Book Fair, the Saudi Press Agency reported.

  • Saudi Arabia’s official reserves highest in 21 months at $470bn

    Saudi Arabia’s official reserve assets reached SR1.76 trillion ($469.83 billion) in August, the highest in 21 months and a 10 percent increase year-on-year, according to recent data. Figures released by the Saudi Central Bank, known as SAMA, show these holdings include monetary gold, special drawing rights, the International Monetary Fund’s reserve position, and foreign reserves.

  • Saudi Arabia’s PIF mulls larger stake in Nintendo, Kyodo reports

    Saudi Arabia's Public Investment Fund (PIF) is considering raising its stakes in Nintendo (7974.T), opens new tab and other Japanese gaming companies, Kyodo News reported on Saturday. Prince Faisal bin Bandar bin Sultan Al Saud, vice chair of the sovereign wealth fund's gaming unit, disclosed the plan in an interview with Kyodo. He told the Japanese news agency that PIF is not in a rush to increase its stakes, and that investments would be made in a friendly way.

  • Frankly Speaking: How Fareed Zakaria views change in Saudi Arabia

    Elaborating on the point, Zakaria said: “The role of women really has been transformed, but there are some areas, for example, where there’s still the requirement and encouragement that Saudis dress in traditional clothes. So, Saudi Arabia is trying to balance this in a way that doesn’t become too revolutionary.” Overall, he said referring to the change, “when you look at it in historical terms, clearly this will be seen as a revolution, but it’s a revolution that is being played out in an incremental way, in an organic way … so that the changes are not so overwhelming.”