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  • Major Fossil Discovery in Saudi Arabia is 90,000 Years Old
     

    A recently discovered fossil finger bone dating back about 90,000 years that was unearthed in Saudi Arabia’s Nefud Desert is “pointing to what scientists are calling a new understanding of how our species came out of Africa en route to colonizing the world,” Reuters reports. The discovery, the middle bone of an adult’s middle finger, […]

     
  • Trump, King Salman Speak by Phone; Trump Urges End to Qatar Crisis
     

    President Trump and Saudi Arabia’s King Salman spoke by phone yesterday and discussed a number of regional issues, according to a readout of the call and wire reports. On the call, Trump “emphasized the importance of resolving the Gulf dispute and restoring a united Gulf Cooperation Council to counter Iranian malign influence and defeat terrorists and extremists.” The leaders […]

     
  • President Trump Calls King Salman, Urges End to Qatar Dispute
     

    President Trump and Saudi Arabia’s King Salman spoke by phone yesterday and discussed a number of regional issues, according to a readout of the call and wire reports. On the call, Trump “emphasized the importance of resolving the Gulf dispute and restoring a united Gulf Cooperation Council to counter Iranian malign influence and defeat terrorists and […]

     
  • Crown Prince Mohammed bin Salman Attends High-Powered Dinner in Los Angeles with Studio Brass, Stars
     

    Crown Prince Mohammed bin Salman and members of his entourage were welcomed to Hollywood last night with a high-powered dinner hosted by the Entertainment industry’s elite, according to a report in the Hollywood Reporter. An intimate dinner was held at Rupert Murdoch’s estate with Dwayne “The Rock” Johnson, Morgan Freeman, James Cameron, Michael Douglas, Disney CEO […]

     
  • Saudi Leadership Delighted at FTSE Inclusion for Tadawul; Billions Expected in Fresh Inflows
     

    The Saudi Arabian stock market will join FTSE Russell’s emerging market index starting in March next year in a move that will likely bring billions of dollars of fresh investment into the Kingdom, Reuters reports. Saudi Arabia’s Crown Prince Mohammed bin Salman and Finance Minister Mohammed Al-Jadaan met with the Mark Makepeace, chief executive of […]

     
  • Saudi Aramco IPO Delayed Until 2019, Financial Times Reports for Second Time
     

    Saudi Aramco’s long-awaited IPO “could be delayed until 2019 at the earliest,” the Financial Times reported on Sunday, citing British officials briefed on the matter. It is the second time the London-based newspaper was the first to report that the IPO would be delayed. The Financial Times reported the same news in September, but Saudi officials […]

     
  • Saudi Officials, Current and Former, Downplay Oil Demand Concerns
     

    Saudi officials downplayed the risk of waning demand for oil as electric vehicles become more mainstream, according to comments made by Saudi Aramco’s CEO Amin Nasser and by former Minister of Petroleum Ali Al Naimi. According to comments at the CERAWeek by IHS Markit conference on Tuesday reported by Bloomberg, Nasser said he is “not […]

     
  • Soft Opening for New $7.2 Billion Jeddah Airport Set for May
     

    Jeddah’s King Abdulaziz International Airport is set to unveil its long-awaited new look at a soft opening in May, the Jeddah-based Saudi Gazette reports, citing confirmation by the General Authority of Civil Aviation (GACA) and the emir of Mecca. Once recognized by travelers as one of the worst airports in the world, Saudi Arabia’s second largest city is […]

     
  • King Salman Opens Annual Janadriyah Festival as Kingdom Puts Saudi Culture On Display
     

    Saudi Arabia’s King Salman on Wednesday attended the opening ceremony of the Kingdom’s 32nd National Festival for Heritage and Culture, held in Janadriyah village on the northern outskirts of Riyadh.  The annual festival, known as the Janadriyah Festival, is a vibrant display of Saudi cultural traditions and heritage, and lasts 18 days. The festival’s first day saw King […]

     
  • JLL Research: 2018 a ‘Year of Implementation’ for Saudi Arabia
     

    A recent report by international real estate company Jones Lang LaSalle said that 2018 would be a “year of implementation” for Saudi Arabia following a historic 2017 in which Saudi Arabia saw great social and economic change. JLL predicts that recent reforms enacted by King Salman and Crown Prince Mohammed bin Salman will “translate positively” to the economy and […]

     

MUST-READS

  • Saudi trades in US equities fall to $15.61B in Q2 2024

    Saudi investors executed sell and buy transactions on US equities of SAR 58.6 billion through capital market institutions in Q2 2024, a year-on-year (YoY) fall of about SAR 1.25 billion, or 2%. Saudi trades in US stocks through capital market institutions recorded a 6% decline (SAR 3.75 billion) from SAR 62.3 billion in Q1 2024, the Capital Market Authority (CMA) said in a report.

  • Bahrain’s new corporation tax isn’t just about boosting revenues

    Bahrain has been facing fiscal pressure since 2010, when it recorded its first budget deficit of the new millennium. While it has used a wide range of tax instruments to improve its finances, most notably value-added tax, it has so far shunned a tax on business profits. Several factors contributed to this decision, most notably a concern that it might affect Bahrain’s reputation as an attractive destination for foreign direct investment.

  • UN rights chief urges states to challenge Israel over occupation

    The U.N. human rights chief said on Monday that ending the nearly year-long war in Gaza is a priority and he asked countries to act on what he called Israel's "blatant disregard" for international law in the occupied Palestinian territories. Nearly 41,000 Palestinians have been killed in Gaza, according to Gaza health officials, since Israel unleashed a military campaign in response to cross-border attacks by Hamas militants on Oct. 7, 2023 in which 1,200 people were killed and a further 250 taken hostage. The conflict has also fuelled a surge in violence in the Israeli-occupied West Bank.

  • Russia aims to tip US election to Trump, intel official says

    “RT has built and used networks of U.S. and other Western personalities to create and disseminate Russia-friendly narratives while trying to mask the content in authentic Americans’ free speech,” said the official with the Office of the Director of National Intelligence, who spoke to reporters on the condition of anonymity.

  • Ronaldo goals prove Saudi league quality – Neves

    And Ronaldo followed up his record-breaking 900th career goal against Croatia on Thursday by coming off the bench to score the decisive late goal against the Scots as Portugal began their Nations League Group A1 campaign with two 2-1 home wins. Asked about the 39-year-old's continued impact despite now playing in the Saudi Pro League, Neves told the Portugal FA website: "I invite those people to watch Saudi football."

  • Saudi Arabia exceeds Vision 2030 target of attracting 100 mln tourists: IMF report

    The Kingdom’s tourism revenues reached $36 billion in 2023, with net tourism income increasing by 38 percent. The sector’s direct and indirect contribution to GDP reached 11.5 percent in 2023, with expectations to grow to 16 percent by 2034, according to the report published on Wednesday.

  • Saudi debt market valued at $213 billion, says official

    The Chairman of the Board of the Saudi Capital Market Authority, Mohammed El-Kuwaiz, said on Sunday that the size of the debt market in the Kingdom has doubled to reach 800 billion Saudi riyals ($213bn), compared with around 400bn riyals ($106bn) in 2019. El-Kuwaiz made his comment during the Debt Markets and Derivatives Forum in Riyadh.

  • Saudi Arabia woos US investors to bolster housing sector

    As growth in mortgage lending in Saudi Arabia runs up against local liquidity constraints, several US investment giants are looking to step in. After a visit by Saudi officials to the US at the end of August, household names such as BlackRock and King Street Capital signed preliminary agreements with the Saudi Real Estate Refinance Company (SRC) and Saudi Mortgage Guarantee Services Company (Dhamanat) to enhance the kingdom’s secondary market for home loans.

  • In precedent, Saudi envoy attends Washington summit with Israelis, gives ‘inspiring’ speech

    Saudi Arabia’s ambassador to the United States, Reema bint Bandar Al Saud, is taking part in the Middle East – America Dialogue (MEAD) summit in Washington, DC. Notably, she is appearing at the same event as many senior Israeli officials, as efforts for a US-brokered normalization agreement have been put on the backburner amid the US elections but could renew afterward. Al Saud takes part in a panel alongside the Moroccan and Bahraini ambassadors to the US. The content of the panel and photos of it are currently barred from publication, though Israeli media outlets hail her speech as “inspiring.”

  • Saudi Arabia: Proposed amendments to various provisions of VAT Implementing Regulations

    The proposed amendments/ additions to the VAT Implementing Regulations aim to enhance compliance with the KSA VAT landscape and to provide further clarity for the taxpayers.