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  • 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 […]

     
  • Saudi Arabia Releases Prince Alwaleed bin Talal and Three Other Prominent Detainees
     

    Just hours after a Reuters interview with reporter Katie Paul, Prince Alwaleed bin Talal was released from his cushy confines in the Ritz Carlton, Riyadh, where he and other prominent businessmen and royals have been detained in a crackdown on corruption in Saudi Arabia that started in November. Prince Alwaleed gave a tour of his large […]

     
  • Report: Locations Scouted for Potential Nuclear Power Plant Sites in Saudi Arabia
     

    Saudi Arabia is eying initial work on two sites for its first nuclear power plants, a report in MEED said, as the Kingdom looks to bolster alternative sources of energy to free up oil for export and power the growth needed for its Vision 2030 program. The kingdom has shortlisted two sites “and has invited […]

     
  • Bloomberg News, MiSK Launch Course in Dubai to Train Aspiring Saudi Journalists
     

    Bloomberg news and Saudi Arabia’s MiSK Foundation have teamed up to launch a course on financial reporting to train aspiring Saudi journalists, according to a report in Arab News. The intensive week-long course is taught at the Bloomberg Middle East headquarters in Dubai. 30 Saudi undergraduates, including 22 women and eight men, were chosen by MiSK […]

     
  • Gas Prices Set to Rise 80% in Saudi Arabia as New Relief for Low Income Saudis Planned
     

    Saudi Arabia will soon raise gasoline and jet fuel prices by 80% on consumers as part of broader economic reform plans meant to curb domestic consumption of oil that could be used for exports. The rise in prices is a result of the gradual elimination of energy subsidies that have long kept prices at world-leading […]

     

MUST-READS

  • Aster DM Gulf unit explores $250m Saudi expansion

    The UAE-based hospital chain Aster DM Healthcare’s Gulf unit is exploring acquisitions worth $250 million to expand its presence in Saudi Arabia. The deals will focus on medical centres and hospitals, Bloomberg reported, quoting Alisha Moopen, managing director and group CEO of Aster’s Gulf Cooperation Council unit.  These deals will be finalised in the next three to five years, she said.

  • Commentary: Nasrallah’s death is a wake-up call for the Arab world

    This pattern of inaction extends beyond Hezbollah. In the broader Arab world, there is a growing awareness that Iran’s promises of “resistance” have only deepened regional instability, resulting in endless cycles of conflict and devastation, particularly in Lebanon, Syria and Yemen. Nasrallah’s incendiary speeches painted a picture of eventual triumph over Israel, but on the ground Hezbollah’s actions yielded little progress in the Palestinian cause, only further isolating Lebanon in its perpetual state of conflict.

  • Saudi executes 198 in 2024, most in over 30 years: AFP

    The latest tally surpassed its previous highs of 196 in 2022 and 192 in 1995, according to the London-based human rights group, which began recording the annual data in 1990. The 198 executions this year compare with 170 in 2023, according to tallies compiled by AFP from official media reports.

  • Commentary: A view from Israel – Pezeshkian’s Israel stance could undermine his domestic priorities and nuclear diplomacy

    Masoud Pezeshkian’s victory in Iran’s July presidential elections gained little attention or enthusiasm in Israel. The elections took place amid the Israel-Hamas war in Gaza following the Hamas-led attack on Israel on 7 October attack last year. It is Israel’s longest war. Israel has also been involved in a simultaneous war against Hezbollah, which started after the latter’s unilateral attack on 8 October and has escalated significantly in recent weeks. These conflicts, coupled with the ongoing hostage crisis, have taken up most of the news cycle in Israel.

  • GCC airports in expansion race as UAE, Saudi, Qatar, Kuwait, Oman spend billions of dollars on upgrades

    Even until the mid-1990s, most airlines viewed the Middle East airports as nothing more than technical stops. What started with Dubai’s ambitions to become the world’s largest travel hub with the launch of Emirates Airline in 1985, has now spread across the Middle East. Countries want to take advantage of their strategic location and capture a bigger share of the long-haul market.

  • Hezbollah says it is ready for any Israeli land invasion in Lebanon

    Hezbollah fighters are ready to confront any Israeli ground invasion of Lebanon, the group's, deputy leader Naim Qassem said on Monday in his first public address since Israel killed its chief Hassan Nasrallah last week. Israel will not achieve its goals, he said. "We will face any possibility and we are ready if the Israelis decide to enter by land and the resistance forces are ready for a ground engagement," he said in an address from an undisclosed location.

  • Saudi Arabia secures funds for 5.5GW solar projects

    The developers of solar power projects worth SAR12 billion ($3.2 billion) with a combined output of 5.5 gigawatts (GW) in Saudi Arabia have secured financing for their projects. Saudi-listed Acwa Power, Water and Electricity Holding Co (Badeel), a Public Investment Fund (PIF)-owned company, and Saudi Aramco Power Co (Sapco), a wholly-owned subsidiary of energy major Aramco, have reached financial close for the Haden, Muwayh and Al Khushaybi projects.

  • Iran condemns killing of Nasrallah, but avoids vow of revenge

    Israel’s assassination of Hezbollah chief Hassan Nasrallah has been widely condemned in Iran. Supreme Leader Ayatollah Ali Khamenei has charged that the ‘Axis of Resistance’ will intensify attacks on Israel, but stopped short of vowing any direct revenge by the Islamic Republic. This comes as some Iranians are calling for a review of nuclear policy, arguing that a nuclear deterrent is necessary to stave off an attack by Israel.

  • Social media influencers go dark on TikTok after promoting futuristic Saudi megacity

    At least five influencers who had been posting videos from Neom, the multiyear project launched by Crown Prince Mohammed bin Salman to build a high-tech megacity, have either closed their social media accounts or gone private after one video faced a wave of mockery on social media. A handful of smaller accounts within this small community of Neom-based content creators remain active, with their videos still viewable.

  • Saudi Arabia urges G20 nations to address Israel’s violations and support Palestinian statehood

    Saudi Arabia has called on G20 countries to intensify joint efforts to address the international community's failure in confronting Israel’s serious violations of international laws and norms. The Kingdom emphasized the need for a ceasefire and a path toward the establishment of an independent Palestinian state. Saudi Foreign Minister Prince Faisal bin Farhan made the remarks on Wednesday during the second meeting of the G20 Foreign Ministers, chaired by Brazil, on the sidelines of the 79th session of the United Nations General Assembly in New York.