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  • Seven Saudi PV solar power projects worth $1.51b launched at recent industry exhibition
     

    Seven PV solar power projects with a capacity of 1.52 GW and worth $1.51bn (SAR5.6bn) were launched on the sidelines of the recently concluded Saudi Elenex exhibition, according to a report in ConstructionWeekOnline. The projects were unveiled by Saudi Arabia’s Ministry of Energy, Industry, and Mineral Resources. The announcements are part of the Kingdom’s larger effort […]

     
  • ‘Signs of Life’ in the Saudi Economy as Indicators Point to Improvements, Growth
     

    Recently-released monthly data show signs of life in Saudi Arabia’s economy, the Arab world’s largest, according to reports. Jadwa Investment’s monthly chartbook for May 2019 shows “marginal economic improvements” with a surge in POS transactions by 19 percent year-on-year and mild improvement in the Kingdom’s non-oil PMI index in March. The Kingdom also saw a net monthly […]

     
  • Saudi Arabia’s PIF Eyes Billions in Debt Raise after Aramco Success – Report
     

    Saudi Arabia’s Public Investment Fund is planning to tap the debt market for billions of dollars, according to a Wall Street Journal report, which cited comments from the country’s finance minister Mohammed Al-Jadaan. The PIF has “begun preliminary talks with banks on a possible bridge loan of as much as $8 billion,” the WSJ reports, […]

     
  • Saudi Arabia to Host 15th Annual G20 Meetings in Riyadh in 2020
     

    Saudi Arabia will host the 15th annual G20 Leaders’ Summit on November 21 and 22, 2020 in Riyadh, the Saudi press agency (SPA) said this week. “Saudi Arabia is fully committed to the G20’s objectives and to the stability and prosperity of the international economic system,” it reported on Wednesday. G20 consists of the 19 world’s largest […]

     
  • Iraqi Prime Minister Adil Abdul-Mahdi Visits Saudi Arabia as Relations Warm
     

    Iraqi Prime Minister Adil Abdul-Mahdi and a delegation visited Saudi Arabia yesterday and met with King Salman and Crown Prince Mohammed bin Salman, as relations between the two nations continue to warm. The Prime Minister’s office said the leaders signed 13 agreements in areas such as trade, energy and political cooperation, without giving further details, according to […]

     
  • Princess Reema Bint Bandar Sworn In as Ambassador to the United States
     

    Princess Reema bint Bandar bin Sultan al-Saud was sworn in on Tuesday as Saudi Arabia’s next Ambassador to the United States, according to the Saudi Press Agency. The swearing in took place at Al-Yamamah Palace in Riyadh. Princess Reema is the first Saudi woman to hold the high-ranking diplomatic post after a royal decree appointed […]

     
  • Saudi-based Telecom Firm Arabsat is SpaceX’s First Commercial Mission, Falcon Heavy Launch Successful
     

    SpaceX’s Falcon Heavy successfully launched its first commercial mission today with Saudi-based telecom firm Arabsat as its customer in a key demonstration for billionaire entrepreneur Elon Musk’s space company in the race to grasp lucrative military launch contracts, Reuters reports and the companies involved confirm. The Falcon Heavy rocket blasted off from Florida’s Kennedy Space Center […]

     
  • Orders for Saudi Aramco’s Debut International Bond Topped $100 billion in ‘Vote of Market Confidence’
     

    Orders for Saudi Aramco’s debut international bond topped $100 billion on Tuesday, Reuters reports, in what amounts to a  “record breaking vote of market confidence” for Aramco after facing investor concerns about government influence over the company. Al-Falih had previously said the $10 billion bond offering had been oversubscribed well above $30 billion. Demand appeared […]

     
  • Saudi Aramco Agrees to Buy 70% Stake in SABIC from Kingdom’s Public Investment Fund
     

    Saudi Arabia’s national oil company Saudi Aramco has agreed to buy a 70% stake in Saudi Basic Industries Corporation (SABIC), the kingdom’s leading petrochemical firm, for $69.1 billion in a private transaction, SABIC said in a press release. The move continues Saudi Aramco’s plans to diversify away from oil to “generating more of its profits […]

     
  • 950,000 SMEs Registered in Saudi Arabia — Jadwa Investment
     

    A recent report by Jadwa Investment highlights the progress being made in the development of Small and Medium-Sized Enterprises (SMEs) in Saudi Arabia and the significance that these crucial elements of a diverse economy can have on sustainable growth in the Kingdom. Saudi Arabia is focusing on SME development with its Vision 2030 social and […]

     

MUST-READS

  • Iran’s Missile Delivery to Russia Triggers Western Backlash

    During a press briefing last week, Pentagon Press Secretary Air Force Maj. Gen. Pat Ryder stated: "The United States has confirmed reports that Iran has transferred shipments of Fath 360 close-range ballistic missiles to Russia, which we assess could employ them within weeks against Ukraine, leading to the deaths of even more Ukrainian civilians." He added that right now, U.S. officials have not determined how many missiles are involved, but some press reports claimed Iran might have delivered up to 200 of the weapons. Iran reportedly proceeded with the transfer by loading the weapons on a Russian ship that docked on Iran’s Caspian Sea coast.

  • On the Second Anniversary of Mahsa Amini’s Death, Where Do Women Stand in Iran?

    Large numbers of women are appearing in public without headscarves and a newly inaugurated government includes a woman cabinet minister, a female vice president in charge of the environment and a woman spokesperson.  Despite these efforts, the number of women in the government of President Masoud Pezeshkian is fewer than during the two terms of President Mahmoud Ahmadinejad (2005-2013) and only slightly higher than during the tenure of Hassan Rouhani (2013-2021). There remains skepticism about the depth of these gestures, as Iranian women continue to face substantial structural barriers and cultural attitudes that hinder progress toward gender equality.

  • Ronaldo’s Saudi Arabian club Al-Nassr fires another coach

    “Al-Nassr can announce that head coach Luis Castro has left the club,” the club said on social media. “Everyone at Al-Nassr would like to thank Luis and his staff for their dedicated work during the past 14 months, wishing them the best of luck for the future.” The Riyadh club drew 1-1 against Al-Shorta of Iraq on Monday in the opening game of the AFC Champions League Elite.

  • Saudi’s Red Sea International Co. Subsidiary Signs $405.8 million MEP Works Contract

    Red Sea International Company, Saudi Arabia announces that its subsidiary, The Fundamental Installation for Electric Work Co. Ltd. has signed a contract with Modern Building Leaders Co. The value of the contract is SAR 1.52 billion. The contract is related to Supply, installation, testing, and commissioning of mechanical, electrical, plumbing (MEP), and infrastructure works in one of the projects. The duration of the contract is 19 months.

  • Saudi Arabia’s SURJ Sports Investment ‘enters race’ for EuroLeague investment

    The outlet reports that shareholders in EuroLeague Commercial Assets, the parent company of the EuroLeague and second-tier EuroCup competition, are aiming to sell about a third of the business. It is said to be aiming to sell a minority stake at a €1 billion (US$1.11 billion) valuation. According to the FT, the group is working with investment bank LionTree on the sale process.

  • Saudi Arabia’s Boeing 777 road trip: Epic journey from Jeddah to Riyadh’s 2024 Runway

    The journey by road of three retired Boeing 777 aircraft of Saudi Arabian airlines (Saudia) from Jeddah to Riyadh has captivated people’s attention throughout Saudi Arabia as onlookers share the aircraft voyage through the deserts and mountains by posting videos and pictures on social media platforms. The Boeing aircraft, which will be displayed at the Riyadh Season 2024 Boulevard Runway zone covered about 1,000 kilometers, from Jeddah airport to Riyadh, on big trucks. The bodies of the planes were transported after their wings, fuselages and other functional components were taken apart.

  • IMG teams up with Alamiya Media for Saudi soccer production

    IMG, the sports marketing agency giant, has enlisted Alamiya Media, the Saudi-based production facilities company, to provide additional facilities and resource services for its coverage of domestic soccer’s Saudi Pro League (SPL) competition and Saudi Arabian Football Federation (SAFF) games. The partnership follows IMG’s recent appointment by the SPL and SAFF to deliver production services for matches across the top-tier Saudi league, Saudi Super Cup, and King’s Cup.

  • Christie’s to open new franchise in Saudi Arabia

    The renowned auction house Christie’s is expanding its presence in the Middle East by opening a franchise in Riyadh, led by managing director Nour Kelani. This will be Christie’s second outpost in the region, following the 2005 opening of Christie’s Dubai, which has had a significant impact on the promotion of Arab art and creativity, both contemporary and modern.

  • Industry Minister launches Rafed Program for university-based factories

    Bandar Alkhorayef, Minister of Industry and Mineral Resources, launched today, Sept. 16, the Rafed Program, which aims to establish innovative factories at universities and technical colleges across the Kingdom, the Saudi Press Agency reported.

  • Christie’s will become first global auction house to operate in Saudi Arabia

    Heading up the firm’s latest location is Nour Kelani, who has been appointed to the newly created role of managing director, Christie’s Saudi Arabia. Based in the capital Riyadh, she will lead Christie’s client services for the fine art and luxury secondary business to “build on long-established clientele in the Kingdom and engage with the next generation of collectors”, according to a release.