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Saudi’s PIF Continues Investment Drive in Kingdom’s Tourism and Hospitality Development
Saudi Arabia’s Public Investment Fund (PIF) is continuing to expand its investment portfolio in Saudi Arabia’s travel, tourism, and leisure infrastructure across different regions of the country as part of the Kingdom’s Vision 2030 economic and social reform plans. The latest such development came in the form of an announcement by the PIF today that it […]
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The Impressive New Cranes Custom Built to Make the World’s Tallest Building in Saudi Arabia
A video posted to YouTube shows the impressive array and implementation strategy for the custom cranes that will build the world’s tallest building in Jeddah, Saudi Arabia. The Kingdom Tower Jeddah is set to be the world’s tallest skyscraper when construction is completed, soaring up to 1 KM (almost 3,300 feet). The original design was to be one-mile-high […]
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PIF $2.7b Bet on Entertainment an Investment Toward a ‘Vibrant Saudi Society’
Saudi Arabia’s Public Investment Fund (PIF) announced on September 20 that it is setting up a new company to invest in the entertainment sector, as the Kingdom looks to achieve a more vibrant society – a stated goal of Saudi Arabia’s Vision 2030. The company, which will have $2.67 billion in initial capital to invest, will seek […]
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Third Monthly Issue of Domestic Sukuk Raises $1.9 Billion, Finance Ministry Says
Saudi Arabia’s finance ministry issued 7 billion riyals ($1.9 billion) of Islamic bonds in its third monthly issue of domestic sukuk, the ministry said Monday. Reuters reports the issue comprised 2.4 billion riyals ($640 million) of five-year sukuk, 3.9 billion riyals ($1.04 billion) of seven-year and 0.7 billion riyals ($190 million) of 10-year sukuk. Bids for […]
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Conflicting Reports on Delay of Saudi Aramco IPO ‘By a Few Months’ as Key Decisions Remain
Bloomberg reported Wednesday that Saudi Aramco is “preparing contingency plans for a possible delay” to the initial public offering of its state-owned oil company “by a few months into 2019,” citing people familiar with the matter. The offering of part of Saudi Aramco is the most visible of the key pieces of the Kingdom’s Vision 2030 economic and social reform […]
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Ambassador Prince Khaled bin Salman Phones Tex. Gov Abbott to Express Saudi Support after Harvey as Students Pitch In
Saudi Arabia’s Ambassador to the United States Prince Khaled bin Salman telephoned Texas Governor Greg Abbott to confirm that Saudi Arabia supports the American people following the disaster of Hurricane Harvey. Harvey, which flooded many parts of Texas and Louisiana and caused dozens of deaths and billions in damage, was one of the worst storms to […]
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New Saudi Ambassador Prince Khaled bin Salman Gives Interview to Washington Post
Saudi Arabia’s new ambassador to Washington Prince Khaled bin Salman, son of the current king and the brother of the new crown prince, gave an interview to the Washington Post‘s Lally Weymouth last week which appeared in the newspaper today. The interview is his first as ambassador, having presented his credentials to President Trump on […]
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Saudi, UAE Crown Princes Forged Friendship on Overnight Camping Trip in the Saudi Desert Last Year, WSJ Report Says
Saudi Arabia’s Crown Prince Mohammed bin Salman and the Crown Prince of the UAE Sheikh Mohammed bin Zayed took an overnight camping trip in the Saudi desert together 18 months ago, forging a friendship that would prove to be pivotal as the two nations build on relations to take on regional challenges, the Wall Street Journal […]
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With Riyadh Metro Progressing, Bechtel Eyes Mining Sector Growth as Saudi Arabia Diversifies
Bechtel, the construction company behind some of the world’s largest and most impressive megaprojects, is eyeing growth in Saudi Arabia’s mining and minerals sector, according to reports and quotes by the company’s Saudi Arabia country manager. “Mining and metals is something that is of extreme interest to us,” said Abdulrahman Al Ghabban, who was appointed […]
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Iraq’s Moqtada al-Sadr Visits Jeddah, Meets with Crown Prince Mohammed bin Salman
Iraq’s influential Shi’ite cleric Moqtada al-Sadr made a rare visit to Saudi Arabia on Sunday, where he met the Saudi crown prince and other officials, according to the SPA and Reuters. It is the first visit by the powerful anti-American Shi’ite cleric in 11 years. Al-Sadr is the leader of the Sadrist Movement and the leader of Saraya […]
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Saudi Arabia seeks Chinese tech as it reinvents itself as car and automation hub
Key meetings in Guangzhou, capital of the southern Chinese province of Guangdong, will include discussions with GAC Group, a major electric vehicle (EV) maker, as well as lithium battery producer General Lithium and communication tech giant Huawei, the statement said.
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Coco Gauff praises WTA Finals in Riyadh, hopes to inspire Saudi’s next generation of tennis stars
Women’s tennis has found a promising advocate in American tennis star Coco Gauff, who has expressed her support for the sport’s expansion into Saudi Arabia. The 19-year-old, fresh off her triumph at the US Open, is emerging as an inspiration for young athletes, both on and off the court. While some players have been hesitant about the WTA Finals taking place in Riyadh, Gauff’s perspective is refreshingly different. Gauff, currently ranked No. 3 in the world, is on a mission to defend her Flushing Meadows title, aiming to be the first to do so since Serena Williams in 2014.
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SDAIA amends regulation for transferring personal data to outside Saudi Arabia
The Saudi Data and Artificial Intelligence Authority (SDAIA) announced that amendments have been made to the regulation for transferring personal data to outside the Kingdom. This is aimed at clarifying the detailed provisions and procedures related to transferring personal data to outside the Kingdom in a way that ensures the availability of an appropriate level of protection for personal data and the privacy of its owners in other countries. This is in view of the fact that SDAIA is the competent authority supervising the implementation of the provisions of the law and regulations.
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Arabian Mills’ $271M Saudi IPO sells out in an hour
The flour milling company plans to raise as much as $271 million by selling a 30% stake, or about 15.4 million shares, on the local Saudi stock exchange. Institutional investors covered the order book throughout the price range of 62 riyals to 66 riyals ($16.50 to $17.60) per share, according to people familiar with the matter, who asked not to be identified discussing private information.
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Saudi Crown Prince discusses situation in Palestine with Erdogan, al-Sisi
During his phone conversation with Erdogan, MBS “affirmed the Kingdom of Saudi Arabia’s keenness to unite Arab and Islamic efforts to support the Palestinian brotherly people in addressing the brutal aggression imposed by the Israeli occupation forces and the need to intensify efforts in order to stop the ongoing Israeli aggressions and violations against the Palestinian people.”
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Smalling set to join Saudi Pro League club Al-Fayha
Former England and Manchester United defender Chris Smalling is on the brink of joining Saudi Pro League club Al-Fayha. Smalling is poised to be a substitute for Roma on Sunday evening when his current club play against Juventus in Serie A.
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Saudi camel leather market valued at $98.7 million annually
The Saudi Fashion Commission highlighted the cultural dimension and national heritage related to camel products and the extent of their benefits in the world of contemporary fashion. The current potential of the camel leather market in Saudi Arabia stood at approximately $98.7 million annually. Based on the current camel population in Saudi Arabia, 2,800 tons of camel hair can be produced annually worth $2 million, it was revealed in a research paper titled “Camels... contemporary fashion,” the Saudi Press Agency reported.
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Ronaldo raves about life in Saudi Arabia and attractions like Red Sea, AlUla
Cristiano Ronaldo said adapting to Saudi Arabia was easy for him and his family as the football star gushed about his life in the Kingdom and its many attractions such as the Red Sea and the ancient Arabic oasis, AlUla. “To be honest, I am really happy to be there [Saudi Arabia],” Ronaldo, who plays for the Saudi football club, Al Nassr, said in an interview with former Portuguese footballer, Rio Ferdinand.
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Israel’s military says six hostages ‘brutally murdered’ in Gaza, including Israeli-American Goldberg-Polin
Israeli soldiers found the six bodies in tunnels under the enclave, according to the military. The hostages were “brutally murdered by Hamas terrorists, a short while before we reached them,” Israel Defense Forces (IDF) spokesperson Rear Adm. Daniel Hagari said in a briefing Sunday. The development has sparked protests across Israel, with fresh public anger directed at Israeli Prime Minister Benjamin Netanyahu and his cabinet for failing to secure a hostage deal. Israel’s largest trade union has also called for a nationwide strike starting Monday.
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Saudi Foreign Minister calls for intensifying Arab-Islamic efforts to stop Israeli violations
Saudi Foreign Minister Prince Faisal bin Farhan discussed the latest developments on the Palestinian issue and efforts to enhance joint Arab and Islamic actions aimed at restoring the legitimate rights of Palestine and its people, stopping Israeli violations, and supporting the establishment of an independent Palestinian state.
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