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  • Full Text: Saudi Arabia Public Prosecution’s Briefing on the Investigation Results into the Murder of Jamal Khashoggi
     

    Saudi Arabia’s Public Prosecution released a briefing on the investigation into the murder of Jamal Khashoggi in Istanbul. Below is the full text of the briefing, emailed by the Saudi Embassy in Washington, D.C. *** Public Prosecution: A Briefing on the Investigation Results  The Public Prosecution said in a press briefing that through the investigation […]

     
  • Saudi Economy Fundamentals Stable, Continued Growth Expected: Jadwa Investment
     

    A recently released macroeconomic update by Jadwa Investment finds the fundamentals of the Saudi economy remain unaltered and the bank “expects solid growth in the next few years” by 2.2 percent in 2018 (compared to -0.9 percent in 2017), with an improvement in the oil sector lifting oil GDP to 3.2 percent in 2018. Looking out into […]

     
  • S&P says Gulf countries need to raise $300 billion by 2021 – Report
     

    Gulf Cooperation Council (GCC) countries will need to raise about $300 billion between 2018 and 2021, with Saudi Arabia having the largest financing requirements, according to rating agency S&P as reported in Reuters. According to a Reuters report, the S&P expects 70 percent of the $300 billion of combined funding needs to be raised through debt […]

     
  • Saudi Arabia’s Budget Deficit Shrinks a Whopping 60%
     

    Saudi Arabia reduced its budget deficit by 60 percent to SR49 billion ($13 billion) in the first nine months of the year, official figures published Wednesday show. The reduction — greater than anticipated in earlier budget forecasts — was the result of a significant growth in both oil and non-oil revenues, the Ministry of Finance […]

     
  • Saudi Crown Prince Promises Justice for ‘Heinous Crime’ of Khashoggi Murder, Touts Reform Progress
     

    Crown Prince Mohammed bin Salman took the stage yesterday at the Future Investment Initiative conference in Riyadh, making his first public comments since the murder of Saudi journalist Jamal Khashoggi in Istanbul grabbed the world’s attention. The Crown Prince did not shy away from the topic, and opened with addressing what he and the Saudi […]

     
  • Oil Down 11% in Two Weeks
     

    Despite sanctions against Iran and tensions between Riyadh and Washington over the disappearance of Saudi journalist Jamal Khashoggi, the price of oil has fallen 11% in two weeks on oversupply and other downward pressures, according to reports. U.S. crude has plunged 11 percent from peak to trough over the last two weeks, while Brent is […]

     
  • The Impact of Reforms on The Saudi Retail Experience – Report
     

    A report today in Reuters highlights the impact that Saudi Arabia’s Vision 2030 economic and social reforms are having on Saudi Arabia’s malls and bazaars – which are changing as retailers embrace a shift in shopping habits. “Designer clothes stores and high-end chocolate and flower shops are shutting and fast-fashion, fast-food, budget stores and cinemas […]

     
  • 75% of Riyadh Metro Project Work Completed, Riyadh Emir Says
     

    Saudi Arabia’s ambitious and sprawling Riyadh metro project is 75% completed, Riyadh Emir Prince Faisal Bin Bandar said after chairing the Arriyadh Development Authority meeting on Monday. Prince Faisal, who is also the chairman of the board of directors of Arriyadh Development Authority and chairman of the supreme committee for supervision of the King Abdul […]

     
  • Ministry of Labor Inspectors ‘Find Many Shops Closed’ as Store Owners Deal With New Regulations
     

    Saudi Arabia’s plans to increase Saudi employment to 70 percent of jobs in stores in several sectors came into force on Tuesday, and inspectors from the Ministry of Labor reportedly found that “many such shops in Dammam and Al-Khobar downed their shutters to avoid penalties and ensure that when they open they are in line with the […]

     
  • PIF Selects Goldman Sachs, Bank of America Merrill Lynch and Michael Klein Selected to Advise on SABIC sale
     

    Saudi Arabia’s sovereign wealth fund has chosen Goldman Sachs, Bank of America Merrill Lynch and Michael Klein as advisers on its planned sale of a stake in petrochemicals firm SABIC to Saudi Aramco, sources familiar with the process told Reuters. Citigroup Inc has reportedly won the mandate to advise Saudi Basic Industries Corp (SABIC). Reuters previously […]

     

MUST-READS

  • King Salman reconstitutes Shoura Council and Council of Senior Scholars

    Saudi Arabia's Grand Mufti Sheikh Abdul Aziz Al-Sheikh has been reappointed chairman of the Council of Senior Scholars while Sheikh Abdullah Al-Sheikh was reinstated as speaker of the Shoura Council, the Saudi Press Agency reported. Mishaal Al-Salami was re-named deputy speaker of Shoura Council while Dr. Hanan Al-Ahmadi was re-appointed assistant speaker. The 150-member Shoura Council has been reconstituted for a period of four years effective from Friday, Rabi Al-Awwal 3, 1446, corresponding to Sept. 6, 2024.

  • Yemen’s STC steps up effort to achieve global recognition

    The Southern Transitional Council (STC) is the most organized fighting force in the south of Yemen. Following the onset of the Ansarullah movement’s attacks on commercial shipping, starting in Nov. 2023, the STC has been actively positioning itself on the global stage as a disciplined defender against the group—better known as the Houthis—and as a key player in securing the Red Sea and the Gulf of Aden.

  • Netanyahu pushes back against new pressure over Gaza and hostages: ‘No one will preach to me’

    Israeli Prime Minister Benjamin Netanyahu on Monday pushed back against a new wave of pressure to reach a cease-fire deal in Gaza after hundreds of thousands of Israelis protested and went on strike and U.S. President Joe Biden said he needed to do more after nearly 11 months of fighting.

  • Saudi’s New Railways Law Further Enhances the Kingdom’s Rail Infrastructure Projects

    The Kingdom recently published its new Railways Law, which took effect this summer and is designed to support the large pipeline of cross-country, inner-city, and inter-city rail infrastructure projects. The Transport General Authority (TGA) is due to publish the implementing regulations to the new Railways Law imminently.

  • When does the Saudi Pro League transfer window end and can Premier League clubs still sell to the Middle East?

    The window is set to slam shut on Monday, September 2, which is five days fewer than the 2023 summer window, which closed on September 7. Couple this with the fact the Premier League transfer window closed earlier on Friday, August 30, and you have an interesting situation.

  • NEO, a new mobile banking brand, is being launched in Saudi Arabia by Saudi National Bank (SNB).

    Described as a “lifestyle digital banking and financial ecosystem”, the banking app comes with a multi-currency debit card (supporting up to 20 different currencies with fixed currency rates); a rewards programme, including cashback and discounts; gift cards; and additional services such as cinema, restaurant and hotel bookings.

  • TNS striker Young makes Saudi Arabia move

    The New Saints striker Brad Young, Welsh football’s leading goalscorer last season, has signed for Saudi Pro League club Al-Orobah for a £190,000 fee. Young, 21, was the Cymru Premier's golden boot winner for 2023-24 after his 22 goals helped TNS to the Welsh double.

  • Saudi Heritage Commission launches Al-Yamama Archaeological Project in Riyadh

    The Saudi Press Agency (SPA) reported on Monday that the Commission will conduct various archaeological surveys and excavations in Riyadh during 2024-2028. A detailed study of Riyadh, along Wadi Hanifah, and surrounding areas will be part of the project.

  • ACWA Power locks in funds for 5.5 GW of solar in Saudi Arabia

    ACWA Power Co (TADAWUL:2082) has secured SAR 9.7 billion (USD 2.6bn/EUR 2.33bn) in financing from a consortium of local and international banks for the construction of three large-scale solar power plants in Saudi Arabia with a combined capacity of 5.5 GW.

  • Saudi Arabia launches Family Guidance Strategy

    The Family Guidance Strategy includes more than 12 initiatives that cover all family and societal requirements. It focuses on empowering and improving the performance of those working in the field of family guidance, in addition to qualifying them and developing their capabilities and skills. It enhances society’s understanding of the role of family guidance and its positive impact in improving family relations, resolving conflicts and supporting stability, through organizing and implementing several qualitative programs and initiatives for society and the family.