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Saudi Arabia’s commitment to extended OPEC cuts ‘will result in oil production having negative effects on GDP’, Jadwa Says
A recent report on the Saudi economy by Riyadh-based Jadwa Investment finds that overall GDP growth will be 0.1 percent in 2017 (compared to 1.4 percent in 2016) due to a sharp decline in oil sector GDP, resulting from the Kingdom’s OPEC commitments to cut output. The projected figure is a revision from earlier forecasts […]
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‘Epicenter X: Saudi Contemporary Art’ Show Hits U.S. in July to Challenge Perceptions, Share Saudi Culture
A U.S. exhibition featuring the works of roughly 40 Saudi Arabian artists aims to “share their expressions, foster conversations and challenge conceptions of life” in Saudi Arabia, the Associated Press reports. The exhibition, entitled “Epicenter X: Saudi Contemporary Art,” opens July 8 and runs for about three months at the Arab American National Museum in […]
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GCC Population grows 7.3% to 57.6 million
According to recent statistics released by the GCC Statistical Centre, the total population of the Gulf Cooperation Council (GCC) countries witnessed a significant increase of 7.3% in 2023 compared to 2021, reaching 57.6 million.
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Saudi Arabia was The Second-Largest Arms Importer in the World from 2019 to 2023 — SIPRI DATA
Saudi Arabia was the second-largest arms importer in the world from 2019 to 2023, accounting for 8.4% of all imports, according to recent data from the Stockholm International Peace Research Institute’s (SIPRI).
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Report Says Saudi Arabia Seeing a Surge in Demand for Cybersecurity Specialists
Saudi Arabia has seen a surge in demand for cybersecurity specialists amid growing concerns about cyber threats within the Kingdom, according to a recent report by security software company Qrator Labs.
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United States Breaks Ground on New Embassy Compound on 27.5-Acre Site in Riyadh
The United States has officially broken ground on its new embassy project in Saudi Arabia’s capital Riyadh, a sprawling new building blending traditional and modern architecture on a 27.5 acre site. When completed, it will be the largest embassy in Riyadh.
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Wamda: MENA Startups Raised $95 Million in July 2023, a Bounce-Back from June’s Total but Deal Volume Falls
Startups in the Middle East and North Africa region (MENA) raised $95 million across 31 deals in July 2023, a slight dip from the $105 million recorded in the same month last year, according to Wamda, the leading website tracking the development of the startup ecosystem in the region.
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Saudi Arabia’s SEVEN Breaks Ground on BUJV, a $347 Million Entertainment Project in Madinah
Saudi Entertainment Ventures (SEVEN), a wholly-owned subsidiary of the Public Investment Fund (PIF), has announced its construction work on BUJV, its new entertainment destination in Madina, according to a report in Construction Week Online and a press release from SEVEN.
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The MENA region gets hotter as a global heat wave hits 3 continents, the Islamic New Year, Saudi Arabia outranks the US in expat survey and much more…
Episode 95! The hosts discuss some of the biggest storylines and topics on Saudi Arabia this week. First, Richard’s One Big Thing this week, the Islamic new year. Muslims around the world observe and celebrate the Islamic New Year, also called the Hijri New Year, which marks the beginning of a new lunar Hijri year. […]
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Non-Oil Business Activity in Saudi Arabia Surged in June 2023 as Tourism, Construction Sectors Lift Economy
Non-oil business activity in Saudi Arabia surged in June supported by strength in construction and tourism, a survey showed.
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Saudi Arabia’s crude oil exports in July hit almost one-year low
Saudi Arabia's crude oil exports in July fell to their lowest level in nearly a year, data from the Joint Organizations Data Initiative (JODI) showed on Thursday. The country's oil exports stood at 5.741 million barrels per day (bpd) in July, their lowest level since August 2023. Saudi Arabia is world's largest exporter of crude. OPEC+ oil producers earlier this month agreed to delay a planned production increase for October and November and said they could further pause or reverse the hikes if needed.
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Saudi Arabia welcomes UNGA resolution to end Israel’s unlawful presence in Occupied Territories
The Kingdom stressed the need to take practical and credible steps to reach a just and comprehensive solution to the Palestinian cause in accordance with the Arab Peace Initiative and international legitimacy resolutions in a way that ensures the Palestinian people’s inherent right to self-determination and the establishment of their independent state on the 1967 borders with East Jerusalem as its capital.
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Topgolf Callaway Brands Enters into Multiyear Strategic Agreement with Golf SaudiTopgolf Callaway Brands Enters into Multiyear Strategic Agreement with Golf Saudi
As part of the agreement, Golf Saudi plans to build three Topgolf venues by 2028, to be owned and operated by Golf Saudi with the option to open another two venues in the future. In addition, Callaway Golf, Odyssey, TravisMathew and Ogio will become the official equipment and apparel brands for the Saudi Men's, Women's and Junior National golf teams as well as for Saudi Elite golf professionals and golf pros working at Golf Saudi facilities. Finally, Golf Saudi will be the exclusive distributor of Callaway Golf, Odyssey and Ogio products in Saudi Arabia.
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Saudi Arabia launches Tamkeen Initiative to empower tech professionals in MSMEs
The Ministry of Communications and Information Technology has partnered with the National Technology Development Program (NTDP) to launch the Tamkeen Initiative, which aims to empower Saudi technical professionals in micro, small, and medium-sized enterprises (MSMEs).
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Middle East is the ‘closest to regional war since 1970s’, warns Saudi ambassador
Prince Khalid bin Bandar al Saud told Sky News's The World with Yalda Hakim that the situation on the ground is only getting worse and it is time to put in "renewed efforts" to stop fighting in places like Gaza. His caution comes after Israel's defence minister announced a "new phase" of the war with troops moving up to the country's northern border, where it has exchanged cross-border fire with Hezbollah for months.
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Saudi Arabia arrests over 22,000 in week of nationwide security raids, crackdowns
Those arrested were apprehended for a variety of alleged violations of the Saudi legal system, including 14,216 for violating the Residency Law, 4,943 for breaching the Border Security Law and 3,214 for infringement upon the Labour Law. A further 1,507 individuals were arrested while reportedly attempting to cross the border into Saudi Arabia, with a majority of them being Ethiopian nationals numbering 53 per cent and Yemenis numbering 46 per cent.
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Ronaldo gets new coach in Saudi Arabia with Pioli hired by Al-Nassr
Al-Nassr appointed former AC Milan boss Stefano Pioli on Wednesday, a day after it fired Luis Castro. The 58-year-old Pioli led Milan to the Serie A title in 2022 and then took the team to the last four of the Champions League in 2023 before leaving the club in May. Castro was fired after a slow start to the season with just one win in three league games.
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MBS: No Saudi-Israel normalization until Palestinians get a state
Although the Biden administration had previously signaled that they might be willing to move forward with the U.S.-Saudi defense agreement even in the absence of normalization with Israel, MBS’ announcement appears to finally kill the possibility of the so-called “Grand Bargain” that Presidential advisors Brett McGurk, Jake Sullivan, and other senior Biden officials had hoped would offer a means of countering China, resolving the Gaza crisis, and topping Trump’s Abraham Accords all in one.
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Saudi Arabia tenders Riyadh Metro Line 7
The Royal Commission for Riyadh City (RCRC) has issued the request for proposal notice to selected firms to design and build Line 7 of the Riyadh Metro project. MEED understands that the client issued the tender notice in mid-September. The RCRC has given consortiums six months to prepare the bids. The submission deadline is 10 March 2025. The RCRC received prequalification forms from contractors for the tender in February this year.
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Saudi Arabia Forging Ahead in Building its First Nuclear Power Plant
“Given the importance of nuclear energy in social and economic development, the Kingdom is moving towards benefiting from nuclear energy and its radiation applications for peaceful purposes,” declared Prince Abdulaziz at the 68th Session of the General Conference of the International Atomic Energy Agency in Vienna.
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