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  • China’s Imports of Saudi Oil Soar 76% in October as Demand Increases
     

    China’s crude oil imports from Saudi Arabia rose over 75% in October as demand from new refiners was met by the Kingdom, according to Reuters data. The 76.3% rise in October was boosted by demand particularly from from two new integrated refineries, the Hengli Petrochemical Co. in the north, and Zhejiang Petrochemical in the south, Reuters reports. […]

     
  • Aramco Quickly Met Global Demand After Attacks, Saudi Arabia’s King Salman Says in Annual Address
     

    Saudi Arabia’s King Salman said in his annual address to the Shoura Council on Wednesday that the ability of Saudi Aramco to quickly restore oil production capacity after attacks on its facilities in September “had proven the kingdom’s ability to meet global demand during any shortage,” Reuters reports. The King pointed a finger at Iran […]

     
  • Saudi Arabia’s PIF Reportedly Invests $400m in Disruptive Food Startup Founded by Travis Kalanick
     

    Saudi Arabia’s Public Investment Fund has invested $400 million into Uber founder Travis Kalanick’s new company CloudKitchens, according to the Wall Street Journal. CloudKitchens is a food and real estate startup that buys cheap properties across the U.S. and in India, China, the U.K. and elsewhere. “The hope is that their proximity to densely populated areas will make them […]

     
  • Defense Secretary Esper in Riyadh for Surprise Visit; Kushner, Mnuchin to attend Future Investment Initiative
     

    Secretary of Defense Mark Esper arrived Monday in Saudi Arabia for an unannounced visit as the U.S. and Saudi Arabia seek to bolster their joint defense in the face of rising regional tensions. Secretary Esper met with Saudi Arabia’s King Salman in Riyadh, photos show, and Esper said he discussed the deployment of U.S. forces and […]

     
  • Law Firm Pillsbury Analyzes First Cases in Saudi Arabia’s New Bankruptcy Law
     

    Law firm Pillsbury published a research note highlighting the recently passed bankruptcy law in Saudi Arabia that incorporated modern alternatives to liquidating businesses in the Kingdom, using the first cases decided by the Saudi judiciary as case studies. “For several years now, judges in [bankruptcy] courts have been involved in seminars and training work­shops to help prepare them to rule […]

     
  • Saudi Arabia, France Announce ‘Major Partnership’ for Al-Ula Development
     

    France and Saudi Arabia have announced a “major partnership” to develop the area of Al-Ula, a historic site in the Kingdom that is part of its push to bring in tourists and open the Kingdom up to investment. According to The National, the new partnership will take place in three phases, with the first being completed in […]

     
  • Travelers Arrive in Saudi Arabia on Newly-Issued Tourist Visas
     

    First visitors have arrived in Saudi Arabia on new tourist visas as Saudi Arabia looks to attract visitors and investment into the Kingdom. Saudi Arabia announced a new tourist visa scheme on Friday that will see the Kingdom open up to international leisure travelers for the first time, a historic milestone in a broader push to diversify and modernize its economy and society. […]

     
  • King Salman Opens Jeddah Airport’s New Terminal
     

    Saudi Arabia’s King Salman opened and toured a new terminal at King Abdulaziz International Airport in Jeddah on Tuesday as the Kingdom continues to invest in ambitious plans to transform its tourism sector. The new King Abdul Aziz International Airport Terminal 1 (KAIA Terminal 1) in Jeddah is one of the biggest infrastructure projects undertaken […]

     
  • Trump says he does not want war with Iran, but says Tehran ‘likely’ behind attacks
     

    President Donald Trump said on Monday it looked like Iran was behind attacks on oil plants in Saudi Arabia but stressed he did not want to go to war, according to reports, as the world watches how the Kingdom and its allies may respond to Saturday’s strikes. “It’s certainly looking that way at this moment,” Trump […]

     
  • World’s Largest Fund Manager BlackRock Opens Office in Saudi Arabia
     

    BlackRock, the world’s largest fund manager, has opened an office in Saudi Arabia, according to reports, as the company continues forward with plans to capitalize on the government’s economic reforms. A company spokeswoman told Reuters the BlackRock Riyadh office had “opened recently and is headed by Yazeed Almubarak,” the news service reports. Almubarak previously worked at Morgan Stanley […]

     

MUST-READS

  • Saudi Arabia, UAE, Qatar, Bahrain, Kuwait Not to Allow U.S. Airbases to Be Used Against Iran

    Urgent calls for de-escalation dominated the discussions, with regional leaders expressing fears that an extended conflict could jeopardize key oil installations. Although Iran has not directly threatened Gulf oil facilities, it has hinted that intervention from "Israel supporters" could lead to retaliation against their interests in the region. According to Saudi commentator Ali Shihabi, Gulf states believe an Iranian strike on their oil facilities is unlikely, but are cautious given the hints conveyed through unofficial channels.

  • Middle East conflict triggers 12% plunge in global cryptocurrency market, Bitcoin falls to $60,750: Experts

    Escalating conflict in the Middle East has taken a heavy toll on the global cryptocurrency market, plunging total market volume by over 12 per cent over the last 24 hours to $81.11 billion. The crash in the market volume has brought the global cryptocurrency market cap to $2.11 trillion on Friday, close to a 1 per cent decline from the previous day and a massive 30 per cent fall from its all-time high of $3 trillion.

  • Saudi Arabia Railways Joins EULYNX Signalling Consortium

    Saudi Arabia Railways (SAR) has officially joined the EULYNX Consortium, making it the first organisation outside of Europe to become part of the group. The EULYNX Consortium is an international collaboration of leading European railway infrastructure managers dedicated to the standardisation and modernisation of railway signalling systems.

  • Gulf region remains a bright spot amid global uncertainty, IMF says

    Despite numerous shocks over the past few years, the GCC region remains a “bright spot” amid global uncertainty, according to Kristalina Georgieva, managing director of the International Monetary Fund. Unemployment remains low, inflation is under control, major port exports have rebounded and international flight arrivals remain stable, Ms Georgieva told the annual GCC ministerial meeting in Doha on Thursday.

  • Foreign ministers of GCC and Iran meet to address escalating tensions in the region

    Albudaiwi said that the meeting discussed the increasing escalation in the region and its serious repercussions on regional and international peace and security. He stressed on the urgency of de-escalation, exercising maximum restraint, and sparing the region further instability from the dangers of wars and destruction, and their effects on the peoples of the region and the world.

  • Qatar: Minister of Finance spotlights huge GCC financial and economic accomplishments

    He noted that the GCC is expected to achieve a 4.7-percent growth rate in 2025, up from 2.4 percent in 2024, and largely outperforming the relatively weak 2023 rates due to oil production reduction as part of efforts to support prices.

  • Gulf states sought to reassure Iran of their neutrality in Iran-Israel conflict, sources say

    Gulf Arab states sought to reassure Iran of their neutrality in the conflict between Tehran and Israel in meetings in Doha this week on the back of concerns that a wider escalation in violence could threaten their oil facilities, two sources told Reuters. Ministers from Gulf Arab states and Iran attending a meeting of Asian nations hosted by Qatar centred their conversations around de-escalation, the sources said.

  • Saudi foreign minister: A two-state solution is more urgent than ever

    A two-state solution is not merely an ideal; it is the only viable path to ensuring Palestine, Israel and the region’s long-term security. Uncontrolled escalatory cycles are the building blocks of wider war. In Lebanon, we are witnessing this first hand. Peace cannot be built on a foundation of occupation and resentment; true security for Israel will come from recognising the legitimate rights of the Palestinian people. By embracing a solution that allows both peoples to coexist in peace, we can dismantle the cycle of violence that has entrapped both sides for far too long.

  • Delta Air Lines and Saudia Airlines enter into new codeshare agreement

    As further evidence of the importance of US carriers establishing and expanding travel options to the Middle East, Atlanta-based Delta Air Lines has announced the signing of a new codeshare agreement with Saudia Airlines, the national carrier of the Kingdom of Saudi Arabia. The agreement, which remains subject to regulatory approval, builds on the existing interline agreement between the two companies.

  • Together Iran and Israel are destroying Biden’s Middle East policy

    Ironically, the principal threat to this US imperative has come from Israel rather than Iran. In the week following the October 7 attacks, Israeli Defence Minister Yoav Gallant began pressing for a major offensive against Hezbollah. Mr Biden pressured Israeli Prime Minister Benjamin Netanyahu to reject these demands and focus on Hamas. A similar scenario was repeated at least twice.