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  • Saudi Aramco Selects D.C.-Based FTI Consulting as Media Advisor for IPO, Report Says
     

    Saudi Aramco has chosen Washington, D.C.-based FTI Consulting as global media adviser for what is expected to be the world’s largest initial public share offer, industry sources told Reuters. FTI Consulting will join already-tapped financial houses to assist with the listing, including Moelis & Co., Evercore, JPMorgan Chase & Co and Morgan Stanley. FTI “will support Aramco’s communications […]

     
  • U.S., Saudi Arabian Agribusiness Majors May Partner to Bid on Saudi Grains Milling Privatization
     

    Saudi Arabia’s largest private agriculture company, Almarai, and U.S. agribusiness Archer Daniels Midland Co. are reportedly among companies eying Saudi Grains Organization’s (SAGO) milling operations, the kingdom’s sole supplier, according to an exclusive report by Reuters. The state-owned SAGO handles the Kingdom’s grains purchases, and is one of the world’s largest wheat and barley buyers. The company […]

     
  • Despite Major Investments in Uber, Careem, Saudi Arabia Bans Ride-Sharing Apps from Airport Pickups
     

    Saudi Arabia’s government has banned ride-sharing apps from making airport pickups, a report in Al Arabiya said, less than a year after the Kingdom’s Public Investment Fund (PIF) invested $3.5 billion into Uber and STC put $100m into Careem. The announcement is a setback for customers who prefer the ease, convenience, dependability, and safety of ride-sharing apps […]

     
  • Aramco Taps Three Banks to Underwrite ‘Largest Ever’ IPO
     

    Saudi Aramco has asked JPMorgan Chase & Co. and Morgan Stanley to assist with its upcoming initial public offering and could call on another bank, HSBC, with access to Chinese investors, according to separate reports in Reuters and the Wall Street Journal, which cited unnamed sources. The major U.S. banks join Moelis & Co., a […]

     
  • Seven Saudi Soldiers Killed on Yemen’s Border Last Week
     

    At least seven Saudi soldiers have been killed in the past week in clashes with Yemeni rebels, Al Jazeera reports, citing the Saudi Press Agency (SPA). Mohammed al-Manjahi was the latest soldier to be killed on the kingdom’s southern borders in the fight against Houthi rebels. According to an AFP news agency tally compiling reports by the Saudi […]

     
  • Secretary of State Tillerson Calls Saudi King Salman, Applauds Saudi Role in Regional Stability
     

    U.S. Secretary of State Rex Tillerson called Saudi Arabia’s King Salman by phone yesterday, and commended the Kingdom on its role in “promoting stability across the region,” the SPA reports. Tillerson also “stressed on the importance of working with the Kingdom, developing a comprehensive plan to strengthen bilateral relations and cooperation both military and counter-terrorism […]

     
  • December Data a Mixed Picture for Saudi Economy
     

    Saudi Arabia’s total government accounts with SAMA fell $80 billion last year, representing a significant slowdown from 2015 which saw a $116 billion net decline, according to a recently released chartbook by Jadwa Investment. The net monthly change to government accounts with SAMA remained negative in December, falling for the seventh consecutive month, part of […]

     
  • Trump Turns Up Rhetoric, Threats Toward Iran
     

    The Trump administration says it is putting Iran “on notice” following two incidents in the region in the past week, including an attack on a Saudi navy ship by Iran-backed Houthi rebels. The comments came from President Trump on Twitter as he blasted the agreement to disarm Iran’s nuclear program. “Iran was on its last legs […]

     
  • U.S.-Saudi Arabia Continue Strong Defense Ties in Trump Administration’s Early Days
     

    Saudi Deputy Crown Prince Mohammed bin Salman spoke by phone with Secretary of Defense James Mattis today to discuss mutual cooperation on security issues, according to the SPA and the Saudi Gazette. The Deputy Crown Prince also serves as minister of defense and chair of the powerful Council on Economic and Development Affairs (CEDA). The U.S.-Saudi relationship is […]

     
  • Economy Rebounds in Saudi Arabia as Money Supply Grows
     

    Saudi Arabian money supply growth has picked up in latest data for the month of December “in a sign that the economy is regaining strength after a slump last year caused by low oil prices and government austerity measures,” Reuters reports, citing central bank data. Key notes among the Central Bank data reported by Reuters: -Annual […]

     

MUST-READS

  • One week on, how the Lebanon attacks have changed the Middle East

    But when Israel withdrew from Lebanon in 2000, Hezbollah kept its weapons in violation of a UN resolution requiring it to disarm. It continued to present itself as a necessary force for the defence of Lebanon and “became the country's most powerful political actor”, says Prof Khatib. Although it is represented in Lebanon’s government, Hezbollah’s real power lies behind the scenes, she adds - as an armed group that many analysts say is more powerful than the Lebanese army, it has the ability to intimidate its opponents.

  • Saudi Arabia to establish 10 private colleges

    The Council of Ministers on Tuesday approved the establishment of 10 private colleges in Saudi Arabia. Custodian of the Two Holy Mosques King Salman chaired the weekly session of the Cabinet in Riyadh.

  • LGBTQ fans welcomed in Saudi, says 2034 World Cup bid chief

    Hammad Albalawi, head of Saudi Arabia's 2034 World Cup bid unit, said his country welcomes all visitors, including LGBTQ people and their bid to host the 48-team showpiece event has nothing to do with 'sportswashing' their human rights record. Global governing body FIFA limited the 2034 contest to bidders from the Asian and Oceania confederations as Morocco, Portugal and Spain will share the hosting of the 2030 tournament.

  • Desert Diplomacy: Saudi Arabia’s Quest for Regional Harmony

    By prioritizing dialogue, diplomacy, and economic cooperation over conflict and confrontation, the Kingdom hopes to reduce tensions in the Middle East and create a more stable environment for its ambitious domestic reforms. While challenges remain, the early successes in mending relations with Iran, Qatar, and Yemen offer hope that Saudi Arabia’s new foreign policy could contribute to lasting peace and stability in the region.

  • Saudi Arabia Eyes Satellite Partnership with Nigeria for TV Channel Expansion on NigComSat-1R

    The Saudi Arabian Embassy in Nigeria has initiated discussions to host four television channels on Nigeria’s NigComSat-1R satellite. This development follows a visit by Saudi Arabia’s Head of Media, Mohammed Alsahabi, to the NigComSat offices on Friday. During the visit, Alsahabi engaged in talks with NigComSat officials, focusing on the potential for collaboration in satellite broadcasting. Abiodun Attah, NigComSat’s Executive Director of Technical Services, received the Saudi delegation, emphasizing the importance of the discussions.

  • Saudi Arabia launches 3 GW solar tender

    SPPC has launched the sixth round of the Saudi Arabian government's National Renewable Energy Program (NREP). It has issued an RFQ in relation to 3 GW of solar capacity across four projects. One facility will have a capacity of 1.4 GW (AC) near Hima in Najran province, in addition to a second 600 MW (AC) plant near Ad Darb, Jizan province. SPPC is also seeking to assign a 600 MW (AC) project planned in Jazan and a 400 MW (AC) project near Al Sufun, Hail province.

  • Hezbollah’s tunnels and flexible command weather Israel’s deadly blows

    Hezbollah's flexible chain of command, together with its extensive tunnel network and a vast arsenal of missiles and weapons it has bolstered over the past year, is helping it weather unprecedented Israeli strikes, three sources familiar with the Lebanese militant group's operations said. Israel's assault on Hezbollah over the past week, including the targeting of senior commanders and the detonation of booby-trapped pagers and walkie-talkies, has left the powerful Lebanese Shiite militant group and political party reeling.

  • Climate change doubles chance of floods like those in Central Europe, report says

    Climate change has made downpours like the one that caused devastating floods in central Europe this month twice as likely to occur, a report said on Wednesday, as its scientific authors urged policymakers to act to stop global warming. The worst flooding to hit central Europe in at least two decades has left 24 people dead, with towns strewn with mud and debris, buildings damaged, bridges collapsed and authorities left with a bill for repairs that runs into billions of dollars.

  • Chinese esports firm launches multi-title tournament in Asia with Saudi Arabia backing

    The Esports Asian Champions League (ACL) will kick off next year, with tens of thousands of professional players set to compete across the continent in a six-month season each year, VSPO announced on Tuesday. The Tencent Holdings-backed company is the biggest esports operator in Asia.

  • Saudi Aramco begins issuing dollar-denominated sukuk

    Saudi Aramco has started on Tuesday issuing US dollar-denominated international sukuk or Islamic bonds. The sukuk offering, which is part of the Trust Certificate Issuance Program of the SA Global Sukuk Limited, will run through until October 2. The value of the offering will be determined according to market conditions and investor demand at the time of the offering, Aramco said in a filing on the Saudi Stock Exchange (Tadawul). The minimum subscription will be $200,000 with integrated multiples of $1,000 in excess of that amount, subject to market conditions.