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  • Oversupply in Oil Markets Continues Downward Pressure on Prices
     

    Global oil markets have entered a period of oversupply, putting downward pressure on prices and eliciting calls for the world’s largest producers like Saudi Arabia to act on top of March 2017 OPEC cuts to reduce the glut. Oil prices fell 3 percent on Friday after data showed U.S. production rose last week just as […]

     
  • Response to Qatar Demands Given Two-Day Deadline Extension
     

    Four Arab states lead by Saudi Arabia agreed to extend until late on Tuesday a deadline for Doha to comply with a list of demands, as U.S. President Donald Trump voiced concern to both sides about the dispute, according to Reuters and other reports. Qatar’s foreign minister said via Twitter that the demands “were meant […]

     
  • Saudi Begins Extended Eid Al-Fitr Holiday as Massive Celebrations Planned
     

    An extended Eid Al-Fitr holiday began in Saudi Arabia and most other Arab countries on Sunday, marking the end of the holy fasting month of Ramadan. Kuwait, Qatar and the United Arab Emirates will also start the holiday on Sunday, but Oman starts the holiday on Monday, according to reports. The timing of Eid can vary […]

     
  • Bechtel Appoints Abdulrahman Al-Ghabban as New Country Manager in Saudi Arabia
     

    Bechtel, a global leader in engineering, procurement, and construction, today announced the appointment of Abdulrahman Al-Ghabban as country manager in Saudi Arabia.  Al-Ghabban will lead Bechtel’s business and operations in the Kingdom. Al-Ghabban said “I am honored to be the first Saudi national to hold the position as country manager for one of the most […]

     
  • $1.4b in Defense Contracts Approved by State Department as Senate Eyes Debate
     

    The U.S. State Department has approved the potential sale of more than $1.4 billion worth of military training and equipment for Saudi Arabia, the Pentagon said on Monday, the first fraction of a $110 billion arms deal U.S. President Donald Trump agreed to with Saudi Arabia when he visited in May. The announcement by the State […]

     
  • New Video Shows How Riyadh Metro Will Transform Saudi Capital
     

    Riyadh’s new metro project is already transforming the face of the city, and will change how its citizens get around in the Saudi capital. There is no large-scale public transportation system currently in place in the city, and the city’s traffic situation reflects this reality. A new graphical video released on YouTube by The Business […]

     
  • VAT Draft to Hit General Authority of Zakat and Tax in ‘Weeks’
     

    Saudi Arabia’s General Authority of Zakat and Tax will publish the value-added tax (VAT) draft on its electronic portal within the next two weeks, Reuters reports, citing local media reported. The General Authority for Zakat and Tax announced on Sunday that the implementation of 5% VAT starting January 2018 “will have no exceptions.” This 5% […]

     
  • New Life for the 15 Year Old Abdullah Arab Peace Initiative?
     

    At a summit in Beirut in March 2002, then-Saudi Crown Prince Abdullah unveiled an initiative to achieve peace between Israelis and Palestianians. The Arab Peace Initiative set out a comprehensive proposal calling for full Israeli withdrawal from all the Arab territories occupied since June 1967, Israel’s acceptance of an independent Palestinian state with East Jerusalem as […]

     
  • Counting The US-Saudi Deals: A Look at What We Know So Far following President Trump’s Visit to Saudi Arabia
     

    Bloomberg and naturalgasintel.com feature a thorough rundown of all of the deals that were announced during the recent visit by President Donald Trump to Saudi Arabia.  While the total remains unknown, the deals are estimated to be valued between $300 and $400 billion. Aerospace, Arms and Defense – $110 billion U.S. Department of Defense and Saudi […]

     
  • Following President Trump’s Visit, U.S.-Saudi Business and Diplomatic Ties Reach New Heights
     

    The two-day visit by President Trump and top members of his family and staff to Riyadh, Saudi Arabia marks a new height in the history of U.S.-Saudi diplomatic and business relations as the warm Saudi embrace of President Trump was on full display in the Kingdom. President Trump’s visit amounted to a bonanza for large, established American companies […]

     

MUST-READS

  • Iraq calls for emergency Arab, Islamic summit to halt Israeli aggression on Lebanon

    Iraq’s Foreign Minister, Fuad Hussein, yesterday proposed holding an emergency Arab and Islamic summit aimed at “unifying efforts to halt Israeli aggression” in Lebanon, Anadolu reported. Since Monday morning, the Israeli military has launched what is described as its “most intense and wide-ranging” assault on Lebanon since hostilities with Hezbollah began nearly a year ago. The attacks resulted in 569 deaths, including 50 children and 94 women, and left 1,835 wounded, according to the Lebanese Ministry of Health.

  • Houthis Expand Ties Beyond Iran’s Axis

    Unlike other members of the Axis, the Houthis swear fealty to their own leadership, and not to Iran’s Supreme Leader Ayatollah Ali Khamenei, and they have their own regional ambitions separate and distinct from Iran. Diversifying their regional and global partnerships helps reduce the Houthis’ dependence on Tehran.

  • Warren & Hearn defend Saudi involvement in boxing

    "Why is there criticism? A small minority complaining about the national anthem being played," Warren said. "These type of events would not be able to be made without financial input. "It's for the love of boxing from His Excellency [Alalshikh] that has made that happen. The fans there, did you hear anyone moaning?"

  • IAEA chief sees willingness from Iran to re-engage on nuclear file

    U.N. nuclear watchdog chief Rafael Grossi said on Tuesday he had sensed a greater willingness by Iranian officials to engage with the agency in a more meaningful way after talks in New York, and that he hoped to travel to Tehran in October. Several long-standing issues have dogged relations between Iran and the International Atomic Energy Agency, including Tehran's barring of uranium-enrichment experts on the inspection team and its failure for years to explain uranium traces found at undeclared sites.

  • Kushner’s Fund Has Reaped Millions in Fees, but So Far Returned No Profits

    The private equity firm run by Jared Kushner, the son-in-law of former President Donald J. Trump, has been paid at least $112 million in fees since 2021 by Saudi Arabia and other foreign investors, even though as of July it had not yet returned any profits to the governments largely bankrolling the firm.

  • Saudi Arabia’s non-oil exports jump 19% in July

    Non-oil exports in Saudi Arabia recorded an increase of 19 percent reaching SR25.4 billion in July this year, compared to SR21.3 billion in the same month in 2023. Non-oil exports, excluding re-exports rose 6.5 percent, while the value of re-exported goods rose 78.4 percent in the same month.

  • ‘Shaandaar Saudi’: Saudi Arabia’s New Campaign to Attract Indian Tourists

    Saudi Arabia has launched its first-ever marketing campaign targeted exclusively at Indian tourists: “Shaandaar (Spectacular) Saudi.” Unveiled in Mumbai on Tuesday, the campaign highlights Saudi Arabia as a year-round destination for Indian families, culture enthusiasts, adventurers, and food lovers. Bringing in Indian tourists is an important part of Saudi’s Vision 2030, a plan to diversify the economy and attract 150 million visitors by the end of the decade. Saudi aims to bring in 7.5 million visitors from India alone.

  • Saudi Arabia draws $144B in foreign investments, says Alkhorayef

    This announcement was made during a promotional event in New York for the upcoming Multilateral Industrial Policy Forum (MIPF 2024), which will be held in Riyadh on Oct. 23-24, 2024. According to data available with Argaam, foreign investment within the Saudi economy rose to SAR 2.55 trillion by the end of Q1 2024, reflecting a 6% increase compared to the end of 2023.

  • Saudi Arabia Surges to 14th Position in Global AI Index, 1st in Arab World.

    The Kingdom of Saudi Arabia has achieved a significant milestone in the field of artificial intelligence, securing 14th place globally and the top spot in the Arab world in the Global AI Index for 2024, published by Tortoise Intelligence. This remarkable 17-rank improvement among 83 countries underscores Saudi Arabia's rapid progress in AI adoption and development.

  • Israel rejects U.S.-backed Lebanon ceasefire proposal

    Israel rejected proposals on Thursday for a ceasefire with Hezbollah, defying allies including the United States which had called for an immediate three-week halt in fighting to allow for diplomacy to avert a wider war. "There will be no ceasefire in the north," Foreign Minister Israel Katz said on X. "We will continue to fight against the Hezbollah terrorist organization with all our strength until victory and the safe return of the residents of the north to their homes."