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  • Saudi Arabia Applauds Trump Decision on Iran Nuclear Deal
     

    Saudi Arabia has embraced President Trump’s decision yesterday to pull the United States out of the JCPoA, the agreement to curb Iran’s nuclear ambitions by offering sanctions relief in exchange for Iran’s compliance with non-proliferation standards, according to statements made by top Saudi officials and the Saudi Press Agency. As the chief rival of Iran in […]

     
  • For Oil Markets, ‘Volatility is Back’
     

    Rising optimism around global economic growth coupled with continued OPEC compliance to output targets and rising geopolitical tensions all contributed to pushing Brent oil prices to near 2014 highs, according to a recent report on the oil market by Riyadh-based Jadwa Investment. “Although oil prices were pressured somewhat at the start of April  due to trade tensions […]

     
  • 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 […]

     

MUST-READS

  • Saudi Arabia Largest Emerging-Market Dollar Debt Issuer; Issuance Likely to Slow

    Saudi Arabia’s debt issuance will likely slow in the second half of 2024, Fitch Ratings says. Large dividend payments by Saudi Arabian Oil Company are used to temper sovereign financing needs. Substantial volumes in 1H24 made Saudi Arabia the largest US dollar debt issuer in emerging-markets (excluding China), and the largest sukuk issuer globally.

  • Saudi Red Sea Authority issues first yacht regulations

    The Saudi Red Sea Authority (SRSA) has introduced Saudi Arabia’s first regulation specifically governing yacht activities within its territorial waters. This new regulation provides a comprehensive framework for managing yacht operations, detailing the necessary requirements and conditions, and overseeing the issuance of tourism and leisure licences. It also emphasizes environmental protection, sustainability, and compliance with safety standards, reflecting SRSA’s commitment to promoting a sustainable coastal tourism sector.

  • US believes Iran has transferred short-range ballistic missiles to Russia, AP sources say

    The United States has informed allies that it believes Iran has transferred short-range ballistic missiles to Russia for its war in Ukraine, according to two people familiar with the matter. They did not offer any details about how many weapons have been delivered or when the transfers may have occurred, but they confirmed the U.S. intelligence finding. They spoke on condition of anonymity to discuss a matter that has not been publicly disclosed.

  • Dutch high-tech consultancy TMC launches in Saudi Arabia

    Netherlands headquartered high-tech consultancy TMC has launched a new office in Saudi Arabia, its second in the GCC region. Headquartered in the city of Eindhoven, TMC is an engineering and technology consulting company dedicated to the high-tech segment. The firm’s 2,700 staff worldwide (mainly in Europe) serve diverse industries such as technology, semiconductors, IT services, energy and renewables, and life sciences. After entering the Middle East last year through an office in Dubai, TMC has now expanded into Saudi Arabia too with a similar ambition – becoming the country’s go-to consultant for high-tech work.

  • Iraq’s new family law amendment could potentially legalize child marriage—and fracture the country

    The impact of child marriage is catastrophic, and it has been a major concern in Iraq over the past twenty years, exacerbated by the shortcomings of existing laws, under which girls and boys can marry at as young as fifteen years old with parental consent. Alarmingly, the Iraqi parliament recently proposed an amendment to its Personal Status Law (PSL) that could potentially legalize child marriage for girls as young as nine, thereby further restricting women’s rights.

  • Will Jordan’s new electoral law bring real change?

    But this time around, to strengthen the country’s political parties and engage voters more effectively, the government has reserved forty-one out of the 138 seats for candidates running on party lists. Yet, the resulting changes are likely only cosmetic since Jordanian parties are not winning voters’ confidence for various reasons, including on the pivotal issue of unemployment.

  • GCC Ministers Meet in Saudi Arabia, Hold Talks With Russia, BRICS Nations

    Foreign ministers from Gulf Cooperation Council (GCC) member states met in Saudi Arabia on Monday for the council’s 161st ministerial summit and held separate talks with their counterparts from BRICS nations Russia, Brazil, and India. Based in Riyadh, the GCC is a regional political and economic union made up of Gulf monarchies, including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. Russian Foreign Minister Sergey Lavrov attended the summit for the seventh GCC-Russia Joint Ministerial Meeting of Strategic Dialogue.

  • Lower Oil Prices Challenge Saudi Fiscal Policy

    Oil prices have slumped in recent weeks. Brent fell from close to $88 per barrel in early July to $71/bbl in early September. Growing worries about the impact of slower economic growth in China and the United States on the demand for oil have offset the production outage in Libya and periodic concerns about potential supply disruptions from a broadening conflict in the Middle East.

  • Saudi Arabia’s PIF to boost annual spending to $70 billion by 2025

    In its latest report on Saudi Arabia, the International Monetary Fund (IMF) highlighted that the PIF’s investments are set to reach $70 billion by 2025, according to Amin Mati, the IMF’s Mission Chief for Saudi Arabia.

  • Dozens killed, wounded in Israeli strikes on Gaza tent camp

    Israeli strikes tore a huge crater, set tents ablaze and buried Palestinian families alive under sand in a supposedly safe zone of southern Gaza before dawn on Tuesday, killing or wounding scores of people, according to Palestinian officials.  Israel said it had struck a command centre for Hamas fighters whom it said had infiltrated the designated "humanitarian" area in al-Mawasi, a vast camp on sandy soil where the military has told hundreds of thousands of Palestinians to shelter since ordering them out of their homes.