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  • Saudi Aramco to Seek $1.7 billion valuation with 1.5% Share Float; Cancels International Roadshow
     

    Saudi Aramco is seeking a valuation of up to $1.7 trillion, which would become the world’s biggest IPO and confirm the company as the world’s most valuable. The valuation is below the initial $2 trillion sought by Saudi Arabia’s leadership. The Kingdom is hoping to raise $30 billion on the local Tadawul index by offering 1.5% of the […]

     
  • MODON, GAMI Ink Deal to Promote Investments in Saudi Arabia’s Defense Sector
     

    A new strategic cooperation between the Saudi Authority for Industrial Cities and Technology Zones (MODON) and the General Authority for Military Industries (GAMI) aims to encourage the localization of military industries in the Kingdom, according to the Saudi Press Agency (SPA). The new cooperation “supports the localization of 50 percent of the expenditure in military industries through […]

     
  • Saudi Aramco targets zero flaring by 2030
     

    Saudi Aramco said on Wednesday it was joining the World Bank’s initiative to reduce gas flaring to zero by 2030, and said its flaring was already less than 1% of its total raw gas production in the first half of 2019, Reuters reports. The announcement comes as the company began this week the process of floating shares […]

     
  • Saudi Arabia Names Prince Faisal bin Farhan as New Foreign Minister
     

    Saudi Arabia appointed Prince Faisal bin Farhan Al-Saud as the Kingdom’s new foreign minister as part of a larger reshuffling of the cabinet. Prince Faisal bin Farhan is the third foreign minister in three years. He replaces Ibrahim Al-Assaf, who was relieved of his post and appointed minister of state and a member of the Saudi Council of […]

     
  • Saudi Aramco delays planned IPO until after earnings update, seeks local listing
     

    Saudi Aramco has delayed the planned launch of its initial public offering “in hopes that pending third-quarter results will bolster investor confidence in the world’s largest oil firm,” Reuters reports, citing two sources familiar with the matter. The slight delay allows Saudi Aramco to reassure investors by first presenting results covering the period in which two […]

     
  • U.S., Saudi Officials Discuss Regional Security and Military Cooperation
     

    Saudi Arabia’s deputy defense minister said on Thursday he discussed “regional security and military cooperation” with senior U.S. government officials, Reuters reports. Deputy Defense Minister Khalid bin Salman, who previously served as Saudi Arabia’s Ambassador to the United States, met separately with U.S. Secretary of State Mike Pompeo and Secretary of Defense Mark Esper. Deputy […]

     
  • Full Transcript: Crown Prince Mohammed bin Salman’s Interview with CBS’ 60 Minutes
     

    Below is the full transcript from the CBS 60 Minutes interview with Saudi Arabia’s Crown Prince Mohammed bin Salman. *** Norah O’Donnell: Did you order the murder of Jamal Khashoggi? Crown Prince Mohammad bin Salman: Absolutely not. This was a heinous crime. But I take full responsibility as a leader in Saudi Arabia, especially since it […]

     
  • Saudis Around the World Celebrate 89th National Day
     

    Saudis around the world are celebrating Saudi National day today, the Kingdom’s biggest national holiday dedicated to the history of the Kingdom as a unified state. The holiday commemorates the announcement of the Saudi Kingdom’s unification on September 23rd, 1932 by King Abdulaziz Al-Saud, who united and renamed the Kingdoms of Nejd and Hejaz to Saudi Arabia by […]

     
  • Pompeo Calls Strikes an ‘Act of War’ as he Visits Saudi Arabia, Meets with Crown Prince
     

    Secretary of State Mike Pompeo has called the recent attacks against Saudi oil facilities an “act of war” by Iran, and met Wednesday with Saudi Crown Prince Mohammed bin Salman in Jeddah. The recent attacks “didn’t come from the Houthis,” Pompeo said Wednesday in remarks to reporters. “This was an Iranian attack…we’re blessed that there were no Americans killed […]

     
  • Positive Trends Seen in Latest Data on Saudi Tourism Sector
     

    Recent data released by the Tourism Information Research Center for the Saudi Commission for Tourism & National Heritage finds encouraging data for Saudi officials hoping to attract tourism spending from abroad and entice Saudis to spend vacation locally in the Kingdom. Tourism spending in Saudi Arabia amounted to $9.6 billion during July and August of 2019 […]

     

MUST-READS

  • Perspective: Saudi Official Views of Hamas

    Saudi disapproval of the October 7 atrocities began immediately after the massacre. When Hamas leader Khaled Meshaal appeared on the Saudi state-owned Al-Arabiya, an anchor asked him, “Would you apologize for what was done to Israeli civilians on October 7?” When he refused to give a clear answer, the anchor pressed him: “You say this is legitimate resistance in your view, but what the people saw on Western TV screens were transgressions by Hamas against civilians.”

  • Saudi Arabia condemns militant attacks in Pakistan’s Balochistan

    Saudi Arabia condemned on Tuesday attacks by separatist militants in Pakistan’s southwestern province of Balochistan that started late on Sunday. At least 73 people were killed in Pakistan’s province of Balochistan when separatist militants attacked police stations, railway lines, and highways. The Kingdom confirmed its rejection of all forms of violence, extremism, and the targeting of civilians.

  • Saudi crown prince discusses situation in Gaza with Palestinian president

    The Crown Prince stressed that the Kingdom will continue its efforts to communicate with all international and regional parties to stop the escalation in the war-torn territory. He also reiterated Saudi Arabia’s contentious support for the Palestinian people to achieve their legitimate rights to a decent life, fulfill their hopes and aspirations, and achieve just and lasting peace.

  • The Saudi Sherpa Office Holds Second Workshop to Coordinate with Saudi Government Entities Participating in 2024 G20

    The Saudi Sherpa Office at the Ministry of Finance held today, August 27, 2024, the second G20 workshop to coordinate with Saudi government entities participating in the 2024 G20 under the Brazilian presidency. The workshop was chaired by His Excellency the Saudi Vice Minister of Finance, Saudi Sherpa, Mr. Abdulmuhsen Alkhalaf, and attended by the Kingdom's representatives in the G20 working and engagement groups.

  • Hezbollah strike on Israel revives focus on Iranian pledges of retaliation

    Comments by Iran’s supreme leader on the nature of war have renewed focus on pledges that Israel will pay for the assassination of a Palestinian leader in Tehran. Ayatollah Ali Khamenei’s intervention notably follows Hezbollah’s launch of a drone and rocket attack on Israel in retaliation for Tel Aviv’s killing of the Lebanese group’s top military commander. Meanwhile, insisting that Iran does “not seek” escalation, Iran’s new chief diplomat has warned of a “definitive” reaction against Israel that will be “measured” and “well calculated.”

  • Iran indicates ‘JCPOA not good enough for us anymore’

    Iran’s new Reformist government appears determined to forge a revised deal with the west to lift sanctions in exchange for restrictions on the country’s nuclear program. However, there is ambiguity over potential paths ahead—including the extent to which elements of the Joint Comprehensive Plan of Action (JCPOA), as the 2015 nuclear agreement is known, may be restored.

  • Israel says situation on Lebanon border ‘not sustainable’

    Israeli officials and media reacted with satisfaction on Monday after a long-expected missile attack by the Iranian-backed Hezbollah movement appeared to have been largely thwarted by pre-emptive Israeli strikes in southern Lebanon. Both Hezbollah and Israel seemed content to let Sunday's attack, in retaliation for the killing of a senior Hezbollah commander in Beirut last month, count as settled for the moment.

  • Top Countries by Fossil Fuel Consumption in 2023

    Fossil fuel consumption reached new record highs in 2023, driven by increased coal and oil use in China, despite the global boom in renewable energy. Together, gas, oil, and coal accounted for 81.5% of the global energy mix last year, slightly down from 82% in 2022. This graphic shows the top 12 countries by fossil fuel consumption in 2023. Data is from the Energy Institute, 2024 Statistical Review of World Energy, released in June 2024.

  • Saudi Arabia’s Annual Grape Production Reaches 110,500 Tons, Tabuk Region Leads with 46,939 Tons

    According to the Ministry of Environment, Water, and Agriculture (MEWA), Saudi Arabia's annual grape production surpasses 110,500 tons, achieving a self-sufficiency rate of 58%. Grapes are cultivated on over 4,720 hectares in the Kingdom.

  • Saudi National Day 2024 Will Be A Four-Day Long Weekend

    This year Saudi National Day festivities will be taking place from Friday, September 20th to Monday, September 23rd, 2024 – meaning residents and nationals will have four days off work this year, according to numerous sources.