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Two Top Officials in Crackdown Sweep Return to Public Eye
Two top officials detained in last year’s crackdown on corruption in Saudi Arabia have returned to the public eye following settlement payments, according to reports. Prince Miteb bin Abdullah, former head of the Saudi national guard and son of the late King Abdullah, was photographed alongside Crown Prince Mohammed bin Salman at a horse race […]
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‘Largest Ever’ Budgeted Expenditure for Saudi Arabia in 2018 as Kingdom Looks to Propel Growth
Government officials unveiled Saudi Arabia’s largest budgeted expenditure ever as the Kingdom looks to propel economic growth following two years of reduced spending. Compared to previous years, the budget is expansionary. Saudi Arabia will spend SR88 billion ($23.5 billion) more in 2018 compared with 2017. The announcement was made at a press conference at which Finance Minister Mohammed […]
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Nearly $20b in Stimulus for Saudi Economy in 2018
Saudi Arabia has unveiled a stimulus package to begin next year with money to support housing construction as well as fee waivers for small businesses. Saudi Arabia’s King Salman issued a royal decree approving 72 billion riyals ($19.2 billion) worth of measures to stimulate growth in the private sector next year (2018), and 200 billion […]
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Westinghouse in Talks with Other U.S. Companies to Bid for Saudi Nuclear Opportunities, Reuters Reports
An exclusive Reuters report reveals that Westinghouse is in talks with other U.S-based companies to form a consortium to bid in a multi-billion-dollar tender for two nuclear power reactors in Saudi Arabia, citing three industry sources. If the consortium forms and bids, it would have stiff international competition in countries like South Korea, France, and Russia, who […]
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UK Government Agrees to $2b Loan Guarantee For Saudi Aramco
The U.K. government agreed to a $2 billion loan guarantee for Saudi Aramco as competition to host the likely largest in history IPO heats up, according to Bloomberg. “The unusually large export credit guarantee, designed to finance the purchase of British goods, will be seen by many as an attempt to help woo the IPO to the […]
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Saudi Arabia to Boost Spending Next Year as Foreign Reserves Reach New Lows
Saudi Arabia will boost state spending next year despite dwindling foreign reserves as the Kingdom looks to turbo charge economic growth, according to reports. Saudi Arabia’s Finance Minister Mohammed al-Jadaan told the Financial Times that Saudi Arabia “would set out an expansionary budget in 2018” to respond to the needs of the struggling private sector, which is […]
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Secretary of State Rex Tillerson to Travel to Saudi Arabia October 20th for Saudi-Iraq Meet
U.S. Secretary of State Rex Tillerson will travel to Riyadh, Saudi Arabia to take part in the inaugural Coordination Council meeting between the governments of Saudi Arabia and Iraq. The Secretary will also meet with various Saudi leaders to discuss the conflict in Yemen, the ongoing Gulf dispute, Iran, and a number of other important regional and […]
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With transfer season underway Saudi Professional League evolves strategy
The SPL has shifted from last year’s extensive talent acquisition—where 97 players were signed—to a more strategic approach this season. The Saudi transfer window opened on July 18 and will close on September 2, aligning with European leagues. This change indicates a focus on filling specific gaps and enhancing overall team quality rather than a […]
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Al-Hilal’s Streak and Saudi Professional League Spending
Saudi Pro League league standings leader, Al-Hilal, just notched it’s 28th straight win to break the world record for most consecutive wins by a top-flight team.
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Human Capability Initiative Conference in Riyadh Concludes with Goal of Increasing Employment Rate in New Industries
The Human Capability Initiative (HCI) Conference launched this week in Riyadh at the King Abdulaziz International Convention Center under the patronage of Crown Prince Mohammed bin Salman with the goal of boosting human capital in the Kingdom.
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A former Colorado staffer’s rogue NIL trip to Saudi Arabia: Wild tale or sign of desperate times?
Reilly said he did not tell Sanders of his plans to visit the Middle East after the conclusion of the 2023 season, but said he informed members of Sanders’ personal staff of his intentions. He also had made it clear to tourism officials in the Middle East that he could never himself strike a deal, but his goal was to serve as an introductory middleman between Colorado’s collective and potential partners.
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Saudi Arabia aims to establish itself as a global film production hub
Producers, artists, specialists, and filmmakers from the kingdom and abroad are participating in the four-day Saudi Film Confex. The opening day showcased an impressive attendance of specialized filmmakers, featuring dialogue sessions that addressed critical topics such as the role of support and financing funds in the industry and the integration of the film sector with other developmental areas.
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Saudi Arabia offers Pakistan share of $200bn in annual construction contracts
As Saudi Arabia prepares to become the world’s largest construction market, the Kingdom is investing heavily to diversify its economy. According to a 2024 report by global property consultancy Knight Frank, the total construction output is projected to reach $181.5 billion by the end of 2028, marking a nearly 30 percent increase from 2023. “Saudi Arabia is the largest construction site in the world and we will in the next few years be awarding construction and material procurement contracts reaching about $1.8 trillion,” Al-Falih said at the Pak-Saudi Business Forum 2024.
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Saudi Company for Artificial Intelligence partners with Elm for Al in public sector
Established in 2021, SCAI is a PIF-owned company that was founded with the aim to positioning KSA as a global AI leader. The company builds AI applications, including in areas such as smart cities, healthcare, public transport, and sustainability. Together with Elm, one of Saudi Arabia’s leading IT consulting and technology companies, SCAI will develop AI use cases in the public sector, and develop prototypes and applications using Al technologies. Elm’s consulting business meanwhile will provide strategic advisory services to SCAI and to the Al offices of public sector institutions that are part of SCAI’s network.
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Saudi businessmen sign 27 memorandums of understanding with Pakistan valued at $2 billion
In a televised speech, Sharif hailed the memorandums and said he hoped they would soon be translated into agreements, adding that his government will do its best to facilitate Saudi investments in the country. Sharif also thanked Saudi Arabia for helping Pakistan reach an agreement to receive a $7 billion bailout from the International Monetary Fund.
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Saudi, UAE, Qatar Lobbying DC to Keep Gulf Oil Safe from Israel
Speaking to Reuters three unnamed Gulf sources said Saudi Arabia, UAE and Qatar are concerned that Israel will target Iranian oil facilities and that other Gulf assets could also come under fire by Iran or its proxies. All three Gulf countries are refusing to let Israel use their airspace, with Reuters reporting that Tehran warned Riyadh earlier this week that it could not guarantee the safety of the Kingdom's oil facilities in the event of an Israeli attack. "The Iranians have stated: 'If the Gulf states open up their airspace to Israel, that would be an act of war,” Reuters quoted a Saui analyst close to the royal court as saying.
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Saudi Arabia launches insurance policy to protect expatriate workers
Director general of international communications and cooperation, Abdulrahman Al-Zaid, told Arab News: “The Expatriate Worker Wage Insurance Service for Private Sector Defaults is part of the ministry’s ongoing efforts to protect both workers and employers, while enhancing the overall efficiency and appeal of the Saudi labor market. “The initiative is designed to create a more secure labor environment, making Saudi Arabia a leading hub for international talent.”
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Saudi Arabia, GCC embrace biological age testing in push for healthier aging
From stem cell research to modifying age-limiting conditions such as Alzheimer’s or Parkinson’s disease, to unlocking the regenerative capacity to reverse age-related changes in the body, targeting human aging with new therapies and medicines is a big business. And the latest trend is biological testing; figuring out how old your body actually is, versus the age on your passport. Or, in other words, your biological age versus your chronological age.
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Battling Japan down Saudi Arabia to stay perfect in World Cup qualifying
Japan handed Saudi Arabia a 2-0 defeat in Jeddah on Thursday as Hajime Moriyasu's side continued their march towards the World Cup with a third consecutive win in Asian qualifying that moves the Samurai Blue five points clear at the top of Group C. Daichi Kamada's close range finish put the Japanese in front in the 14th minute of a physical first half and substitute Koki Ogawa headed in Junya Ito's corner nine minutes from time to secure the points.
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Saudi Arabia’s flyadeal eyes widebodies; A321neo due in 1Q26
flyadeal (F3, Jeddah International) is planning to place a widebody order - its first - before the year ends, chief executive Steven Greenway said at the Routes World 2024 conference in Bahrain. The Saudia (SV, Jeddah International) low-cost subsidiary sees opportunity with widebodies, “and we’re going after it,” Greenway said, adding that they are evaluating both the A330 and B787 but have discarded the A350, as it would be “too big.”
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