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Saudi Arabia’s Ultra-Lux Amaala Resort May Raise Up to $2.7 Billion Next Year
Saudi Arabia’s ultra-luxury Amaala tourism project may raise up to 10 billion riyals ($2.7 billion) in 2022, the CEO of the company, John Pagano said in an interview on the sidelines of Arabian Travel Market in Dubai.
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Startup Ecosystem in Saudi Arabia Begins to Thrive
Saudi Arabia’s startup ecosystem is beginning to thrive as new and increasingly larger investments into young Saudi companies continue to mount.
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High-Level Biden Administration Officials Plan Regional Trip to Gulf Allies in Diplomatic Push
The Biden administration is sending a team of senior officials to visit top regional allies in the Gulf including visits to Saudi Arabia, the UAE, Egypt, and Jordan, according to reports from several news outlets.
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Crown Prince Mohammed bin Salman Opens Sakaka Solar Plant; Announces 7 More Projects
Saudi Arabia’s Crown Prince Mohammed bin Salman announced the opening of the Sakaka solar power plant on Thursday, and said that agreements have been signed for seven more solar power projects throughout the Kingdom, according to reports.
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Photos Show Riyadh’s New Metro System, Set to Begin Operation This Year
New photos from the AFP published in Gulf News show Riyadh’s forthcoming new metro rail, set to connect the city long plagued by significant traffic woes and enable citizens to get around between the city’s districts.
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Princess Reema bint Bandar Headlines 2nd Day of Virtual U.S.-Saudi Business Forum; Calls for a ‘Restart’ in U.S.-Saudi Relations
Saudi Arabia’s Ambassador to the United States, Princess Reema bint Bandar Al-Saud, gave the keynote address this morning at the virtual U.S.-Saudi Business forum and discussed the path forward for U.S.-Saudi business and diplomatic relations, women empowerment, and rebounding from the effects of the pandemic on the global and local economy. The comments, delivered virtually […]
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Japanese Firm Eyes Saudi Arabia as Next Mega-Solar Project Destination – Report
Japanese trading house Marubeni is looking to open a megasolar plant in Saudi Arabia by June 2023, the company’s first solar project in the country and fourth in the Middle East, the Japanese news website Nikkei reports. Marubeni has formed a joint venture with Saudi utility Al Jomaih Energy and Water for the plant, which is […]
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‘Arab News’ Releases Impressive Graphical Feature on Saudi Arabia’s Heritage Sites
English-language daily news site Arab News has released a graphical feature item on its website detailing the five Saudi historic sites inscribed on UNESCO’s World Heritage List.
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OPEC+ Poised to Agree to Production Increase This Week as Oil Continues Climb
The OPEC+ group of oil producing nations is poised to agree to a production increase this week as it looks to add more supply as prices continue to recover from 2020 lows, according to reports. “There’s a widespread view within the group that the market can absorb additional barrels,” Bloomberg reports, citing people familiar with the […]
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Saudi Arabia to End Contracts with Foreign Companies Without a Regional HQ in the Kingdom After 2023
Saudi Arabia announced on Monday that it will stop signing contracts with foreign companies from 2024 unless their regional headquarters are based in the Kingdom, part of a push to give more of the Kingdom’s economic opportunities to countries that will hire local talent and compete with neighboring cities in other Gulf nations.
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Saudi Arabia plants over 95 million trees since launch of green initiative
Since the 2021 launch of the Saudi Green Initiative, Saudi Arabia has planted over 95 million trees through the National Afforestation Program and partnerships with government, private sector, and non-profit organizations. These efforts have also rehabilitated over 118,000 hectares of degraded land and protected 4.3 million hectares currently under restoration.
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Uzbekistan exact revenge on Saudi Arabia to once again show they are Asia’s rising force
On Saturday, with an impressive 2-0 win over defending champions Saudi Arabia, the Uzbeks advanced to the semi-finals of the ongoing AFC U-23 Asian Cup. In doing so, they kept alive their hopes of a maiden appearance in the men's football tournament at the Olympic Games. Should they beat Indonesia in their next tie and reach the final, they are guaranteed a ticket to Paris.
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Biden offers both a carrot and a stick to Israel as his term nears an end
In his final months in office, President Joe Biden is signaling new willingness to use U.S. military assistance to Israel as both a carrot and a stick to influence its high-stakes confrontation with Iran and Iran-backed militant groups. But while the approach increases Washington's involvement in Israeli decision-making just weeks before the US presidential election, it is unclear whether it will help achieve Biden's goals, including preventing a broader regional conflict and getting Israel to address the increasingly dire humanitarian situation in Gaza, experts say.
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Iran warns Israel against retaliation for missile attack
The commander of Iran's Revolutionary Guards warned Israel on Thursday against attacking the Islamic Republic in retaliation for a missile barrage, as the Israeli military stepped up its offensive in Lebanon against Tehran-backed Hezbollah. Fears of a wider Middle East conflict have grown as Israel plans its response to the Oct. 1 missile attack carried out by Iran after Israeli airstrikes on Iranian-allied militants.
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Charges of double standards as Lebanese Shiites seek refuge in Iraq
Iraqi officials are facing accusations that “humanitarian assistance” to displaced Lebanese is offered primarily to Hezbollah’s leadership and their families. Images of recent arrivals from Lebanon wearing scarves with the group’s insignia initially kicked off allegations of double standards. Observers further alleged that non-affiliates of Hezbollah are not offered preferential treatment. Meanwhile, others oppose such aid writ large, charging that Iraq’s Shiite political elite is supporting Lebanese co-religionists at the expense of displaced Iraqi Sunnis.
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Saudi Arabia, Egypt agree deeper investment ties, urge Gaza truce
Saudi Arabia's Crown Prince Mohammed bin Salman and Egypt's President Abdel Fattah al-Sisi agreed to deepen trade and investment cooperation and called for a ceasefire in Gaza and Lebanon in talks in Cairo on Tuesday. Egypt's presidency said the leaders signed an agreement to encourage and protect mutual investments between the countries, and witnessed the signing of an accord to form a supreme coordination council between Riyadh and Cairo to deepen cooperation.
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Saudi crown prince attends weekly Cabinet meeting
The Cabinet addressed the Kingdom’s ongoing efforts on the political and humanitarian levels to contribute to the current situation in the Gaza Strip and its surroundings, as well as the repercussions of the ongoing events ion Lebanon, Saudi Press Agency reported. It also discussed Saudi efforts of launching an air bridge to the Lebanese people to support them in facing these critical circumstances.
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Saudi’s Manara in advanced talks to buy stake in First Quantum’s Zambian mines
Saudi Arabia's Manara Minerals is closing in on a deal to buy a minority stake in Canadian miner First Quantum Minerals' (FM.TO), opens new tab Zambian copper and nickel assets, three people familiar with the details told Reuters. Manara, a joint venture between Saudi Arabian mining company Ma'aden (1211.SE), opens new tab and its $925 billion Public Investment Fund, is in advanced talks to acquire between 15% and 20% equity in the Zambian assets, the sources said.
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FIFA World Cup Qualifying review: Saudi Arabia and fellow Gulf sides struggle
The third round of Asian qualifying for the 2026 FIFA World Cup continued this past week, with each nation still in the running for a spot at the tournament playing a pair of matches. For some, like Saudi Arabia, it was a difficult seven days, while others moved closer to a spot at the 2026 finals in the United States, Canada and Mexico. Here, Al Arabiya English rounds up the key moments from FIFA World Cup qualifying.
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Goldman Sachs’ Saudi Arabia CEO leaving firm – source
Goldman Sachs' (GS.N), opens new tab Saudi Arabia CEO, Khalid Albdah, is leaving the firm, a source familiar with the situation told Reuters on Wednesday.Albdah has been heading Goldman's Saudi operations for nearly a decade, his LinkedIn profile showed. He joined the bank in 2013 from Al Rajhi Capital, one of the largest financial firms in the Middle East. Goldman Sachs declined to comment. The news was first reported by Bloomberg.
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