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  • 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 […]

     
  • Snapchat-funded Study Finds More Saudis Watching Video on Mobile Devices
     

    More Saudis watch short online videos than traditional TV, with more than 85 percent of Saudis viewing videos lasting less than 10 minutes at least once a day, according to a new Snapchat-commissioned study. The survey of 869 Saudis found that mobile devices are beginning to outpace traditional TV sets in the Kingdom. 80 percent of Saudis view […]

     
  • Oil Continues Slide as Recession Fears Mount
     

    Oil fell 2% toward $58 a barrel on Thursday, extending the previous session’s 3% drop, pressured by mounting recession in the United States and and a surprise boost in U.S. crude inventories, Reuters reports. Last week, oil prices rallied in response to indications from Saudi Arabia and the so-called OPEC+ group that it would work […]

     

MUST-READS

  • Saudi Arabian economic growth to accelerate in 2025 as oil taps open

    Saudi Arabia, the world's largest exporter of crude oil, is reportedly preparing to abandon its unofficial target of reaching $100 per barrel. This will allow the kingdom to reverse past production cuts and increase market share, which along with non-oil revenue growth, will help drive faster economic growth. The Oct. 9-22 Reuters poll of 21 economists forecast the Saudi economy would expand 4.4% in 2025, the fastest in three years, and up from an expected 1.3% this year.

  • Saudi crown prince, Iraqi prime minister discuss regional crises during phone call

    Saudi Crown Prince Mohammed bin Salman spoke on the phone with Iraq's Prime Minister Mohammed Al-Sudani on Tuesday, Saudi Press Agency reported. During the call, they reviewed relations between the two countries and ways to enhance and develop them in various fields. They also discussed the latest developments in the region and the efforts made to prevent the deterioration of the situation in Palestine and Lebanon, as well as how to spare the region from the risks of escalation.

  • Seven GCC IPOs raise $1.7 billion in Q3 2024, UAE leads growth with $1.1 billion

    Markaz’s report also revealed that the UAE led the GCC region in terms of IPO proceeds in Q3, raising a total of $1.1 billion from one offering. This constituted 69 percent of total GCC IPO proceeds during the quarter. Meanwhile, Saudi Arabia’s IPO proceeds reached $512 million during the quarter with six offerings constituting 31 percent of total GCC IPO proceeds during the quarter.

  • BRICS summit 2024 to begin on Tuesday: All you need to know

    The original BRICS members—Brazil, Russia, India, China, and South Africa—will be joined by the newly admitted members: Egypt, Ethiopia, Iran, and the United Arab Emirates. However, Brazilian President Luiz Inácio Lula da Silva will participate virtually due to a recent injury, adding an interesting dynamic to the proceedings.

  • Saudi Minister of Finance Heads Kingdom’s Delegation to 2024 IMF-WBG Annual Meetings & 4th G20 FMCBG Meeting

    The Saudi Delegation will also include His Excellency the Governor of the Saudi Central Bank (SAMA), Mr. Ayman Alsayari; His Excellency the Saudi Vice Minister of Finance, Mr. Abdulmuhsen Alkhalaf; the Deputy Minister of Finance for International Affairs, Mr. Khalid Bawazier; the Deputy Chair of the International Monetary and Financial Committee (IMFC), Dr. Ryadh Alkhareif; and a number of specialists from the Saudi Ministry of Finance, SAMA, the Saudi Fund for Development (SFD), the Zakat, Tax and Customs Authority (ZATCA), and the National Debt Management Center (NDMC).

  • Two Falcons Sold for SAR191,000 at Third Night of Saudi Falcons Club Auction 2024

    The Saudi Falcons Club Auction 2024, held at the club's headquarters in Malham, north of Riyadh, continues until November 15. On the third night, two Shaheen falcons were sold for a total of SAR191,000. The first falcon, Tarh Al-Faw Hafr Al-Batin, presented by falconer Omar Al-Enezi, sold for SAR41,000. The second falcon, Tarh Al-Leith, presented by falconer Ibrahim Al-Ayyaf, began with a starting price of SAR50,000, generating intense competition before ultimately selling for SAR150,000.

  • Saudi Arabia, China forge tourism partnerships to boost investment, travel

    In a post on his X account, Al-Khateeb said: “During my visit to China, I met with Chinese investors and discussed the great potential and investment opportunities in Saudi Arabia’s tourism sector and ways for collaboration to elevate the experience of tourists.” In June, the Kingdom announced its official Approved Destination Status, effective July 1, following participation in the second China Roadshow and ITB China in Shanghai.

  • A Mideast Shift Is Underway, Without Israel

    A diplomatic détente is underway in the Mideast, but not the one envisioned by the Israeli prime minister, Benjamin Netanyahu, who continues to say that his administration can clinch a deal with Riyadh. This month, the foreign ministers of the Persian Gulf states met for the first time as a group with their Iranian counterpart. It is a shaky, early-stage rapprochement that will only chip away at centuries of sectarian antagonisms, but it represents a sharp shift in a region where the rivalry between Riyadh and Tehran has drenched the region in bloodshed for decades.

  • Saudi Arabia launches unified e-contract for student registration

    This came with the aim of regulating the contractual relationship between schools and parents of students, in a way that guarantees the rights of both parties within a legal framework of transparency and clarity, SPA reported. The contract includes the obligations of both private schools and parents towards each other, including providing the curriculum, paying tuition fees at the specified times, and maintaining good behavior and discipline within the school.

  • Eighth Saudi Relief Plane Departs for Lebanon with Essential Aid Supplies

    The eighth relief plane of the Saudi air bridge, operated by the King Salman Humanitarian Aid and Relief Center (KSrelief), took off today for Lebanon, bound for Rafic Hariri International Airport with a cargo of food, shelter, and medical supplies.