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  • Saudi Aramco Selects U.S. Firms to Audit Reserves for 2018 IPO
     

    Saudi Aramco has tasked two U.S. industry leaders in oil reserves auditing to review the content of its deposits as it pushes ahead with a share listing next year, industry sources told Reuters on Thursday. Saudi Aramco has asked a unit of oil services firm Baker Hughes – Gaffney, Cline and Associates – to carry […]

     
  • Saudi-backed Softbank Technology Investment Fund Hits $100b Mark Ahead of Schedule
     

    Oracle founder Larry Ellison will join Apple, Qualcomm and Foxconn in backing SoftBank’s record-setting technology fund, allowing the Japanese telecoms group to hit its $100 billion goal weeks ahead of schedule, the Financial Times reports. According to the report, the Saudi-backed fund may be oversubscribed by the time it closes. Abu Dhabi’s sovereign wealth fund is […]

     
  • Four of Seven Saudi Bodies are Returned Home as Kingdom Reels from Lost Youth in Istanbul Terrorist Attack
     

    The bodies of four Saudis who were slain in the attack on an Istanbul nightclub were returned home as the Kingdom reels from the loss of its citizens at the hands of Daesh terrorists abroad. The attack killed seven Saudis and 39 total from 14 countries. Included in the four dead returning to the Kingdom today […]

     
  • Number of Executed in Saudi Arabia in 2016 Dips Slightly from 20-Year High
     

    Saudi Arabia executed 153 people in 2016, a slight reduction over 2015 (158) that marked a 20-year high for the Kingdom. Though figures for Iran and China are less transparent and not yet available for 2016, both countries appear to have executed significantly more than Saudi Arabia last year. China has been dubbed the “world’s most prolific executioner” […]

     
  • U.S. Chamber of Commerce Brings Global Initiative on Health and Economy to Saudi Arabia
     

    A delegation from the U.S. Chamber of Commerce recently traveled to Saudi Arabia as part of an initiative aimed at promoting healthy living as a way to achieve a thriving economy. The U.S. Chamber’s Global Initiative on Health and Economy works to promote health as an economic asset around the world. This month, representatives from the […]

     
  • Major U.S. $7.9 Billion Weapon Sales Plans Include $3.51b in Chinooks to Saudi Arabia
     

    The Defense Security Cooperation Agency (DSCA) has approved five notifications of weapon sales to Congress, including 48 Chinook Cargo Helicopters for Saudi Arabia, Apache helicopters for the United Arab Emirates and TOW missiles for Morocco, according to reports. The estimated cost for the Saudi purchase is $3.51 billion. The Defense Security Cooperation Agency delivered the required […]

     
  • King Salman Dances in Qatar, Causes Social Media Buzz
     

    Saudi Arabia’s King Salman set social media sites buzzing after he was seen dancing the traditional Ardha dance alongside his counterpart, the Qatari Emir HRH Sheikh Tamim bin Hamad Al Thani. The King’s visit to Qatar is part of his tour of several GCC countries this week. King Salman arrived from the UAE, where he celebrated the Emirates’ […]

     
  • Saudi Arabia Replaces Labor Minister, Appoints 30 Women to Shoura Council
     

    Saudi King Salman appointed a new Minister of Labor on Sunday and appointed 30 women to the Shoura council as the Kingdom seeks to turn short term economic pain into long term stability and diversification with its Vision 2030 policy. Dr. Ali bin Nasser al-Afis (also spelled Ali bin Nasser al-Ghafis) is the new Minister, replacing Dr. Mufrej […]

     
  • Jadwa Investment: ‘Prudent Policies’ Should Decrease Saudi Deficit in 2017
     

    Jadwa Investment’s recently released macroeconomic update for the Kingdom’s economy finds that “prudent policies” have been taken to reform the fiscal budget. The Riyadh-based bank said that “fiscal consolidation, coupled with improved non-oil revenues, will mean a smaller-than-anticipated fiscal deficit in both 2016 and 2017. This consolidation will, nevertheless, negatively impact private sector activity, thereby […]

     
  • Two-Day MiSK Global Forum in Riyadh Showcases Ideas of Innovation And Global Culture to Empower Youth
     

    The MiSK Foundation under the sponsorship of Deputy Crown Prince Mohammed bin Salman launched today a major two-day forum in Riyadh that focuses on entrepreneurship and innovation issues. Over 75 prominent speakers include Cisco Chairman John Chambers, Emirati Minister Of Youth Shamma Almazrui, CEO of KAEC Fahd Al-Rasheed, Vice President of the Women’s Affairs at the […]

     

MUST-READS

  • Saudi proptech HissaTech raises $670,000 pre-Seed

    Saudi PropTech startup HissaTech has announced raising $667,000 in a pre-seed funding round led by angel investors. The company aims to boost real estate investment in Saudi Arabia by enhancing its digital platform, which simplifies access to income-generating properties.

  • Saudi nationwide initiative to replace old ACs

    A Saudi government agency has launched a nationwide initiative to replace old air conditioners with new ones with the aim of boosting energy efficiency and cutting household consumption. Dubbed “Estbdal” (Replacement), the initiative is undertaken by the Saudi Energy Efficiency Centre in collaboration with other competent government bodies. More than 30 retailers, 350 showrooms and four Saudi plants are joining too.

  • Saudi liquidity reaches $770bln by end of Q2

    The current level, with a growth of SR238,150 million, is the highest, compared to the same period in 2023, when it amounted to SR2,660,556 million. The liquidity levels reflect the money supply in its broad and comprehensive concept (M3), according to data provided by the monthly bulletin of the Saudi Central Bank for July 2024.

  • Saudi Arabia starts time planning for 2025 Hajj season

    Saudi Arabia announced the start of time planning for the 2025 Hajj season, during a meeting held on Sept. 8 in Jeddah, under the auspicious of Prince Khalid Al Faisal, Advisor to the Custodian of the Two Holy Mosques, Governor of Makkah Province and Chairman of the Central Hajj Committee.

  • Analysts predict growth despite Saudi GDP fall

    Saudi Arabia’s year-on-year GDP fell again in the second quarter, according to adjusted government figures released this week, but analysts have said the quarterly increase shows the economy is nearing the end of its negative run. GDP was down 0.3 percent year on year in the second quarter, but has risen by 1.4 percent since the previous quarter.

  • Gaza Impact Creep: Is the Fight Against ISIL a Casualty?

    Without such kinetic pressure, he is convinced ISIL would succeed in reconstituting itself in northeastern Syria from its safe haven in the Badiya desert, nominally under Syrian regime control – but largely ungoverned space below the large northern quarter of Syrian territory that Abdi’s forces control. ISIL continues to have funding streams in the northeast, including kidnapping for ransom and extortion, as well as regional inflows, and to find localized safe haven in communities with residual sympathy for the group.

  • U.S. and Iraq Try to Recast the Strategic Relationship

    The U.S.-Iraq relationship has been undergoing re-evaluation over the past five years, since the March 2019 capture by U.S.-led forces of the Syrian town of Baghouz, the last bastion of physical control by the Islamic State (IS) organization’s “caliphate.” U.S. military personnel, who had been withdrawn from Iraq in 2011, were sent back into the country in 2014 to help destroy the group’s control over major portions of both Iraq and Syria. U.S. forces successfully helped Baghdad rebuild its beleaguered national forces that essentially collapsed at the hands of the IS offensive.

  • Saudi Arabia’s game plan for a thriving esports economy: Video

    From hosting the first-ever Esports World Cup to announcing plans to build cutting-edge gaming arenas, Saudi Arabia is making big moves in the esports industry. With projections of a $13 billion boost to its economy, CNN’s Eleni Giokos takes a look at how this thriving sector is redefining entertainment and business in a country with a young, tech-savvy population.

  • Saudi Arabia is betting big on sports: Video

    With bold investments and a bid to host the 2034 FIFA World Cup, Saudi Arabia is aiming to become a dominant force in the global sports industry. CNN’s Eleni Giokos explores how these initiatives are transforming the Kingdom's sports sector and contributing to its broader economic diversification strategy.

  • Russian FM meets Saudi crown prince in Riyadh

    Russian Foreign Minister Sergei Lavrov visited Riyadh on Monday where he met with Saudi Arabia's de facto ruler Crown Prince Mohammed bin Salman and other officials from the six-nation Gulf Cooperation Council.