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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

  • Saudi Security forces arrest 21,971illegals in a week

    Those who were arrested included 13,186 violators of the Residency Law, 5,427 violators of the Border Security Law, and 3,358 violators of the Labor Law, the Ministry of Interior announced on Saturday. The total number of people who were arrested while trying to cross the border into the Kingdom accounted for 1,421, of whom 34 percent were Yemeni nationals, 64 percent Ethiopian nationals, and two percent belonged to other nationalities while 53 people were arrested while attempting to leave the Kingdom illegally.

  • Seventh Saudi Relief Plane Arrives in Beirut with Aid for Lebanese People

    The seventh relief plane of the Saudi air bridge, organized by King Salman Humanitarian Aid and Relief Center (KSrelief), arrived today at Rafic Hariri International Airport, carrying food, shelter, and medical supplies. This assistance was granted under the directives of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and His Royal Highness Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister.

  • Saudi Arabia’s Next Giga Project Is a Gigantic Cube in Riyadh

    Already, New Murabba Development Co. has excavated more than 10 million cubic meters out of the ground to prepare for the Mukaab’s construction. The developer is planning to award contracts worth tens of billions of riyals in the coming year that will stock the building and its surrounding area with entertainment venues, educational institutions, health care facilities and a 45,000-seat stadium, Dyke said.

  • Saudi Arabia and Spain look to boost $3.2bn trade ties

    Saudi Arabia and Spain are looking to boost $3.2bn trade ties as the countries meet to discuss investment opportunities. Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef began an official visit to Spain on Thursday, aimed at enhancing industrial and mining cooperation and exploring shared opportunities in advanced industrial sectors, including aerospace and aviation, which are a focus of the National Industrial Strategy.

  • Protesters storm Saudi broadcaster MBC’s office in Baghdad over remarks against Iran-backed groups

    Supporters of Iran-backed groups ransacked the Baghdad office of Saudi broadcaster MBC early on Saturday, a security source told The National, over a report that referred to commanders of Tehran-aligned militias as “terrorists”. More than 400 people entered the channel's office in the Al Jamia neighbourhood of the Iraqi capital after midnight. They started a fire in the yard before breaking into the building where they damaged equipment and furniture, a security officer with the Interior Ministry said. Iraqi security forces later sealed off the area, blocking all roads leading to the building, he said, speaking on condition of anonymity. There has been no official statement from authorities.

  • Saudi’s PIF Establishes sarcc Company to Address Growing Staff Accommodation Demand

    Sarcc will be instrumental in leading the evolution of the accommodation market, through developing and operating complexes for staff in Saudi Arabia. The company will seek opportunities to invest in the sector, in order to strengthen standards for staff housing. Accommodations provided or sourced by sarcc will be designed to meet recognized international standards set by the International Finance Corporation (IFC) – part of the World Bank Group – and the European Bank for Reconstruction and Development (EBRD).

  • 12 Luxury Resorts In Saudi For An Unforgettable Getaway

    From pristine beaches to turquoise lagoons, the Kingdom has it all—and the finest luxury resorts in Saudi are here to help you make the most of the country’s must-visit destinations. only too happy to oblige. Expect idyllic waterfront havens, floating villas and private pools for endless rest, relaxation and rejuvenation. Ready to get your resting beach face on?

  • Iraq moves to revoke Saudi broadcaster’s license after report angered militia supporters

    Iraq’s commission governing media announced Saturday that it would take steps to revoke the license of a Saudi television station to operate in the country. That came hours after dozens of supporters of Iraqi militias stormed and looted the office of the broadcaster, MBC, in Baghdad in protest over a report that described a number of Iranian-linked militant figures — including a prominent Iraqi militia leader — as “terrorists.” The report on “terrorists” who had been killed this century mentioned former al-Qaida leader Osama bin Laden alongside a roster of Iran-backed figures.

  • Opinion: Sinwar’s Death Changes Nothing

    Netanyahu’s calculation is no mystery. Should he leave political office, he faces a criminal-corruption trial and a probable inquiry into the security meltdown on October 7. He has apparently concluded that the best way to stay out of prison is to stay in power, and the best way to stay in power is to keep the war going—specifically, the war in Gaza. The battle against Hezbollah in Lebanon is too volatile, and involves too many other actors, including the United States, Iran, and Gulf Arab countries, for Israel to keep control of its trajectory. For this reason, Lebanon is much less useful than Gaza as a domestic political tool.

  • Opinion: How the Biden Team Plans to Build Peace From Sinwar’s Death

    The death of Sinwar alone is not the sufficient condition to end this Gaza war and put Israelis and Palestinians on a pathway to a better future. Yes, Sinwar and Hamas always rejected a two-state solution and were committed to the violent destruction of the Jewish state. No one paid a bigger price for that than the Palestinians of Gaza. But while his death was necessary for a next step to be possible, it was never going to be everything.