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HRH Prince Turki Al-Faisal Al-Saud talks about his father King Faisal’s legacy, the King Faisal Foundation’s decades of work, and U.S.-Saudi relations
An interview and conversation with the legendary HRH Prince Turki Al-Faisal Al-Saud, who joins The 966 to share some stories and his anecdotes about his late father, King Faisal bin Abdulaziz Al-Saud. King Faisal’s death lead his sons to create the King Faisal Foundation to honor his visionary legacy and generous spirit. HRH Prince Turki […]
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Saudi Arabia Stuns World With Upset Win Over Argentina in Qatar World Cup Opener; King Salman Declares Wednesday a Holiday
In what some analysts are already classifying as one of the greatest upsets in the history of the World Cup, Saudi Arabia stunned tournament favorite Argentina, 2-1, in its opening match at Lusail Stadium in Doha.
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Saudi Economy Continues Growth Streak as Non-Oil PMI Continued in Expansion Mode in September – Jadwa Chartbook
Saudi Arabia’s non-oil economy continued to grow in September as data continues to point to 2022 being a year in which the Kingdom outperforms economies around the world in growth, according to the latest Jadwa Investment Chartbook for the month of September 2022.
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OPEC+ and the American uproar with Colby Connelly from Energy Intelligence, plus Riyadh Season’s big events and more…
Episode 62! Energy Intelligence’s Colby Connely joins The 966 to talk about oil markets, the big kerfuffle here in the United States caused by the OPEC+ decision, and some more on that hot topic. But first, the hosts discuss new statistics on Saudi Arabia’s population, Riyadh Season 2022, and then conclude as always with the […]
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Saudi Arabia’s Population Grows 9.3% in 2021, Officially Reaching 34 million
Saudi Arabia’s population reached 34 million people in 2021, according to a recent report by Saudi Arabia’s Ministry of Health and published in the Saudi Gazette, at an annual growth rate of 9.3%.
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Saudi Telecom Giant STC Plans $1 Billion in Investments to Transform Kingdom into Regional Data Hub – Report
Saudi Arabia’s Saudi Telecom Co. (STC), the Middle East’s most profitable mobile operator, “plans to spend about $1 billion to transform the kingdom into a regional data hub, and may sell a stake in its data hub, called Center3, business to finance the plans,” Bloomberg reports.
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Middle East Regional Carriers to Spend $765 billion by 2040 on Fleet Expansion, Boeing Says
Carriers in the Middle East are set to expand its fleet with an additional 2,980 commercial jets in the next two decades, spending upwards of $765 billion on new planes, major supplier Boeing said on Monday in Dubai. The new planes will be required to meet the strongly recovering demand for both passenger and cargo […]
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OPEC Continues to Forecast Robust Global Oil Demand Growth in 2022 and 2023
In its latest monthly report, OPEC stuck to its forecasts for robust global oil demand growth in 2022 and 2023, citing signs that major economies were faring better than expected despite global headwinds such as surging inflation, Reuters reports.
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Saudi GDP Up 12.2% in Second Quarter, Exceeding Initial Estimate, as ‘Boom Spreads Beyond Oil’
Saudi Arabia’s real gross domestic product expanded by 12.2% in the second quarter compared with the same period of 2021, new data revealed on Wednesday, as the Kingdom continues to see growth from high oil prices that is now spreading to the private sector.
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Report: Israeli Energy Companies Create JV for Saudi, Gulf Push
Israeli companies Enlight Renewable Energy Ltd. and natural gas producer NewMed Energy LP plan to jointly develop renewable energy projects in North Africa and the Middle East, including in Saudi Arabia and Oman, Bloomberg reports.
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MUST-READS
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US struggles to avoid wider war after Iran missile attack on Israel
After days of escalating Israeli attacks on Iran-backed Hezbollah in Lebanon that killed Hezbollah leader Hassan Nasrallah and a day after Israel announced limited ground incursions into southern Lebanon, Iran today launched 180 ballistic missiles at Israel. The Biden administration said initial assessments indicated there had been very few, possibly no fatalities from the massive attack, which it nevertheless called a significant escalation.
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Wrapping up mission, US troops will leave some longstanding bases in Iraq under new deal
he U.S. announced an agreement with the Iraqi government Friday to wrap up the military mission in Iraq of an American-led coalition fighting the Islamic State group by next year, with U.S. troops departing some bases that they have long occupied during a two-decade-long military presence in the country.
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Falconers Flock to the Northern Borders Deserts for the Hunting Season
Al-Hammad area, located east of Arar, in the Northern Borders region, is a renowned stopover for migratory birds during the hunting season. This annual event, which begins in October, attracts falconers from all over Saudi Arabia and GCC countries. Known for its abundance of prized falcons, Al-Hammad desert draws enthusiasts from near and far. The area often sees high sales at falcon auctions, making it a popular destination for collectors.
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Hezbollah Got Caught in Its Own Trap
Hezbollah is entirely a creature of Tehran, unlike Hamas and the Houthis, which, though backed by Iran, were not founded under the Islamic Republic’s tutelage and have religious and political differences with it. Established in the immediate aftermath of the Israeli invasion of Lebanon in 1982 and developed during the 18-year occupation that ended in May 2000, Hezbollah was the first Iranian-controlled militia in the Arab world, providing a model that Tehran has successfully replicated in Iraq, Syria, and elsewhere.
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Saudi oil may keep a lid on Middle East fallout
Israel’s war in Gaza has certainly had savage economic consequences – year-on-year GDP in the Palestinian enclave fell 86%, opens new tab in January 2024, the World Bank says. But oil prices – the obvious way for the conflict to hit the global economy – have mostly hovered in the $70s and $80s a barrel region. Major hostilities on Israel’s northern border with Hezbollah were assumed to be the key reason to make them spike higher. The doomsday scenario would be for Iran to shut the Strait of Hormuz, through which a fifth of the global oil supply passes daily.
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Saudi unemployment drops again in second quarter
The unemployment rate for Saudi nationals fell to 7.1 percent in the second quarter of 2024, government data shows, down from 7.6 percent in the first quarter and 8.5 percent in the same period a year ago. The overall unemployment rate, which includes expatriate workers, dropped to 3.3 percent in Q2, down from 4.1 percent in 2023, according to the General Authority for Statistics’ latest labour force survey.
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Saudi Arabia targets $1.7 trillion in tourism infrastructure by 2030
Official data indicates that as of June 2024, the kingdom has 255 tourism infrastructure projects valued at $1.7 trillion, aligning with its Vision 2030 goal to attract 150 million visitors annually.
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Unemployment among Saudi citizens falls to 7.1% in Q2
Unemployment among Saudi citizens continued to decrease in the second quarter, falling to 7.1%, according to government data released on Monday, down from 7.6% in the previous quarter, and from 8.5% in the same period a year earlier. The overall rate of unemployment, which includes expatriate workers, fell to 3.3% in Q2, down from 4.1% in the prior year period, the General Authority for Statistics said.
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Saudi Arabia stresses need to ‘preserve Lebanon’s sovereignty, territorial integrity’
Saudi Arabia has stressed “the need to preserve Lebanon’s sovereignty and territorial integrity” amid ongoing Israeli strikes on the country, the Kingdom’s Ministry of Foreign Affairs said in a statement issued on Monday. “The Kingdom of Saudi Arabia is following with great concern the developments taking place in the Republic of Lebanon,” the statement continued, adding that it “affirms its solidarity with the Lebanese people against the repercussions of these events and the need to limit their humanitarian consequences.”
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Saudi Arabia announces monthly financial support to address humanitarian situation in Gaza
Saudi Arabia on Sunday announced the provision of monthly financial support to Palestinians to help address the humanitarian situation in the Gaza Strip and its surroundings. The support comes as a continuation of the humanitarian and development aid provided by the Kingdom to the Palestinian people in the past, which amounts to more than $5.3 billion.
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