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  • Saudi Crown Prince Reassures Foreign Investors after Corruption Crackdown
     

    Saudi Arabia’s Crown Prince Mohammed bin Salman is seeking to reassure the business community following the Kingdom’s crackdown on corruption, which netted over $100 billion for the Saudi government from alleged impropriety. The secretive nature of the arrests and concerns over political motivations have worried local and foreign business leaders. More than 300 people, among them royals, politicians and […]

     
  • New Benefits to Offset Reform Costs for Average Saudi Household, Merrill Lynch Says
     

    The average Saudi household will be sheltered from tough economic reforms by new royal grants and household allowance disbursements, a report on the Saudi economy by Bank of America Merrill Lynch (BofAML) said. “The combination of royal grants and Household Allowance disbursements more than fully shelter Saudi households from the costs of fiscal reform costs, which […]

     
  • Saudi Arabia’s Crackdown on Corruption has Netted the Government Over $106 billion; 56 Suspects Still in Custody
     

    Saudi Arabia’s crackdown on corruption has netted the government over $106 billion, according comments from the official in charge of the effort. Attorney General Sheikh Saud Al-Mojeb said on Tuesday that 56 corruption suspects were still in custody out of a total of 381 people detained on graft charges. According to the Saudi Gazette, the […]

     
  • Saudi Arabia Announces 9 New Desalination Plants in 18 Months
     

    Saudi Arabia said it would build 9 new desalination plants in the next 18 months on the Red Sea coast, according to an announcement by the Saudi Minister of Environment, Water and Agriculture, Eng. Abdulrahman al-Fadhli. The new plants will cost SAR 2 billion ($533 million). The minister said the plants would be built “using modern techniques” […]

     
  • Ritz Carlton Riyadh May Re-Open in February as Prince Alwaleed bin Talal Reportedly Negotiating for Release
     

    The palatial Ritz-Carlton in Riyadh may re-open in mid-February 2018 after it served as a makeshift detainment center for Saudi elites accused of corruption charges. The hotel has re-opened its online reservation system, accepting new guests as soon as February 14th. Reservations attempted before that date re-direct to a notification that no rooms are available at […]

     
  • Saudi Arabia Lowers Barriers to Stock Market Investment Again as Reforms Progress
     

    Saudi Arabia announced that it will lower the required minimum assets under management for qualified foreign institutions starting this month, according to Bloomberg and a statement by the Saudi Capital Markets Authority (CMA). The announcement said the CMA will also allow foreigners to own up to 49 percent of listed securities on Saudi Arabia’s stock market. […]

     
  • Ministry of Culture and Information Launches Certified Saudi Cinema Account: ‘We are back’
     

    The Saudi Ministry of Culture and Information (MoCI) launched an official and certified account for Saudi cinema on Twitter yesterday and used its first tweet to proclaim the return of Saudi cinema. “We are back,” the account announced. The announcement and launch of the twitter handle comes ten days after the MoCI announced that cinemas […]

     
  • Yemen’s Houthis Fire Another Ballistic Missile at Riyadh
     

    Saudi Arabia said it intercepted a Yemeni rebel missile over Riyadh on Tuesday as residents reported a “loud boom” that shook buildings in the Saudi capital. It was the second Houthi missile attack on Riyadh in the past two months. “Ballistic missile intercepted over Riyadh,” the Coalition battling Yemen’s Houthi rebels said in a statement. […]

     
  • Saudi Cinema to Return in March 2018, Minister Al-Awwad Says
     

    Saudi Arabia’s Ministry of Culture and Information has confirmed that commercial cinemas will be allowed to operate in the Kingdom as of March 2018, according to a statement by Minister Awwad Al-Awwad. When the first cinema opens, it will be the first public cinema that has been permitted to operate in Saudi Arabia in 35 years. The return of […]

     
  • Second Missile in a Month Launched from Yemen Intercepted by Saudi Military
     

    For the second time in a month, the Saudi military has intercepted and destroyed a ballistic missile that was launched from Yemen on Thursday. The missile did not cause any casualties and was headed towards the Saudi city of Khamis Mushait on the Kingdom’s southwestern border, according to reports. Yemen’s Iran-backed armed Houthi rebels claimed responsibility for the […]

     

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