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Gulf Rift Ends after 42 Months; Qatari Emir Heads to GCC Summit as Skies, Borders Re-Open
Saudi Arabia and other GCC nations effectively ended their 42 month-long rift with neighboring Qatar on Monday, signaling a new era in Gulf political and economic relations and bringing to a close a long dispute begun in June 2017.
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Saudi Arabia’s PIF Makes Two Moves in Security, Defense Space
Saudi Arabia’s Public Investment Fund (PIF) and its defense subsidiary SAMI announced separate moves in the defense and security space this week, according to reports. The PIF said Tuesday it had established a company to develop and expand the private security sector in the Kingdom, creating the National Security Services Co. (SAFE). SAFE will focus on […]
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Saudi Arabia’s Tourism Minister: Kingdom Needs to Inject $200 Billion into Industry — Report
Saudi Arabia’s tourism minister Ahmed Al-Khateeb dismissed naysayers of the Kingdom’s ambitious tourism plans, telling Arab News‘ Frank Kane in an exclusive interview that the Kingdom’s target of obtaining 100 million visits by 2030 is not overambitious with big investments in the industry.
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Houston-Based Baker Hughes, Saudi Aramco to Develop Oil, Gas Products Using Nonmetallic Resources
Saudi Aramco and Houston-based Baker Hughes have announced the formation of Novel, a 50/50 Joint Venture (JV) to develop and commercialize a broad range of non-metallic products for multiple applications in the energy sector, the companies said in a press release.
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Saudi Economy More Resilient than Expected in Q2, Q3 2020; Recovery Possible Next Year – Jadwa Investment
Saudi Arabia’s economy proved to be more resilient than expectations in the face of dual crises of the Coronavirus pandemic and a drop in oil prices in 2020, Jadwa Investment writes in an economic update.
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Road to the G20: Saudi Arabia Set to Host Main Leaders’ Summit this Weekend
Saudi Arabia is set to host the G20 Leaders Summit this weekend, the main event involving the heads of the 20 nations chaired virtually by the Kingdom due to the Coronavirus pandemic.
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Saudi Economy Contracts 4.2% in 3Q, Improves from 2Q; Fitch Affirms Credit Rating at ‘A’
Saudi Arabia’s economy shrank 4.2% in the third quarter from a year earlier, government data showed on Tuesday, but the contraction was smaller than the second quarter when the economy was reeling from coronavirus-linked lockdowns, Reuters reports. The economy expanded by 1.2% on a seasonally-adjusted quarter-on-quarter basis in the third quarter from a contraction of 4.9% […]
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As Saudi Non-Oil Revenue Soars, Uncertainty Looms Over Oil Market
Saudi Arabia saw a significant boost in non-oil revenue in the third quarter of this year, with an increase of 63% year-on-year to SR123 billion ($32.8 billion), new data shows, an encouraging trend for policymakers as the market for oil continues on an uncertain path in the face of a global pandemic and global economic slowdown.
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Images: Architect Jean Nouvel Reveals Design for Sharaan Resort in Al-Ula, Saudi Arabia
French architect Jean Nouvel unveiled his design for Sharaan, a new resort hidden within the rock dwellings of Al-Ula, a cultural oasis in north-west Saudi Arabia.
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Top Names in Golf Commit to Saudi International Tournament in February
Saudi Arabia’s annual golf tournament secured two of the sports top names to compete in February, winning commitments from the world’s top-ranked golfer and the latest major championship winner on Monday to play in the Saudi International. Dustin Johnson, the world’s number one golfer, and Bryson DeChambeau, who won the U.S. Open by six strokes in […]
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Qatar becomes first Arab state to join US visa waiver programme
The US has said it will waive visa requirements for citizens of Qatar, making the gas-rich Gulf state the first Arab country, and only the second Muslim-majority country, to join a network of states with expedited travel to the US. The US Department of Homeland Security said on Tuesday that the Gulf monarchy cleared the "stringent security requirements" to become the 42nd member of the US’s visa waiver programme. Qatar’s population stands at just 2.6 million, of whom only a tiny fraction - around 313,000 - are citizens. The US visa waiver programme is mainly reserved for wealthy western European and Asian states. Israel was added to the programme last year.
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Hotel franchise in the Middle East: navigating the shift
Though still considered emerging, the region's hospitality market is rapidly maturing and diversifying. Coupled with an increasing range of brands across all scale ratings, there has been a noticeable shift to franchise (including third-party operators and heightened owner engagement). Franchise, predominant in North America and widespread in Europe, may not have been considered when HMAs for most Middle East hotels were first entered. But as these agreements approach expiry or renewal, their owners may have a golden opportunity to explore alternatives.
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Middle East accounts for 7.5% of global crypto volume — Chainalysis
According to a Sept. 25 Chainalysis report, the Middle East and North Africa region (MENA) accounted for 7.5% of all cryptocurrency transaction volume globally between July 2023 and June 2024. Chainalysis estimates the total value received during the period to be $338.7 billion, with the vast majority of the transaction volume coming from institutional and professional investors.
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US admits Qatar into visa waiver program
The United States on Tuesday announced it was admitting Qatar into its visa waiver program, allowing visa-free travel by Qatari citizens for up to 90 days starting no later than Dec. 1. The U.S. Department of Homeland Security and the Department of State said in a statement that Qatar is the first Gulf country to be admitted to the U.S. Visa Waiver Program, commending Doha for meeting the strict security requirements to join.
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Foreign trucks must settle any violations before their entry or exit of Saudi Arabia
It is mandatory on the part of foreign trucks to settle any transportation violations before the entry or exit of drivers or trucks in Saudi Arabia. This is one among the four key regulations, formulated by the Transport General Authority (TGA), in collaboration with relevant authorities, aimed at governing foreign truck operations in the Kingdom.
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Saudi Arabia to bolster medical tourism with strategic partnerships
One notable example is a memorandum of understanding (MoU) signed last August between Saudi Arabia and Morocco, focusing on research, digital health, therapeutic development, pandemic preparedness, and preventative medicine. Meanwhile, this MoU follows a similar agreement signed with Thailand in January to foster knowledge sharing on hospital management and wellness services between both countries.
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Iraq calls for emergency Arab, Islamic summit to halt Israeli aggression on Lebanon
Iraq’s Foreign Minister, Fuad Hussein, yesterday proposed holding an emergency Arab and Islamic summit aimed at “unifying efforts to halt Israeli aggression” in Lebanon, Anadolu reported. Since Monday morning, the Israeli military has launched what is described as its “most intense and wide-ranging” assault on Lebanon since hostilities with Hezbollah began nearly a year ago. The attacks resulted in 569 deaths, including 50 children and 94 women, and left 1,835 wounded, according to the Lebanese Ministry of Health.
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Houthis Expand Ties Beyond Iran’s Axis
Unlike other members of the Axis, the Houthis swear fealty to their own leadership, and not to Iran’s Supreme Leader Ayatollah Ali Khamenei, and they have their own regional ambitions separate and distinct from Iran. Diversifying their regional and global partnerships helps reduce the Houthis’ dependence on Tehran.
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Warren & Hearn defend Saudi involvement in boxing
"Why is there criticism? A small minority complaining about the national anthem being played," Warren said. "These type of events would not be able to be made without financial input. "It's for the love of boxing from His Excellency [Alalshikh] that has made that happen. The fans there, did you hear anyone moaning?"
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IAEA chief sees willingness from Iran to re-engage on nuclear file
U.N. nuclear watchdog chief Rafael Grossi said on Tuesday he had sensed a greater willingness by Iranian officials to engage with the agency in a more meaningful way after talks in New York, and that he hoped to travel to Tehran in October. Several long-standing issues have dogged relations between Iran and the International Atomic Energy Agency, including Tehran's barring of uranium-enrichment experts on the inspection team and its failure for years to explain uranium traces found at undeclared sites.
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