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Saudi Arabia’s Economy Expanded 11.8% in the Second Quarter; Non-Oil PMI Rises to 8-Month High — Jadwa Investment
Saudi Arabia’s economy expanded 11.8% in the second quarter of 2022, Bloomberg reports, maintaining the fastest pace of growth since 2011 as oil prices boost the Kingdom’s economy. Beyond oil, however, Saudi Arabia is seeing positive signs in the non-oil economy as the Kingdom continues apace with economic reforms as part of the Kingdom’s Vision 2030.
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A Special Edition of The 966: Reviewing President Biden’s Visit to Saudi Arabia with Jon Alterman, David Des Roches, and Hussein Ibish
A very special edition of The 966 for Episode 53: The 966 has lined up three experts to discuss their reactions to President Biden’s visit to Israel and Saudi Arabia and a renewed U.S. focus on the Middle East region. Hussein Ibish, columnist for Bloomberg, Dr. Jon Alterman from the Center for Strategic and International […]
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Saudi Arabia’s Ports Cargo Volume Jumps in June
Saudi Arabia’s ports witnessed a 16.1 percent increase in cargo throughput volumes in June 2022 compared to the same period a year before, according to a report in Arab News, citing the latest release by the Saudi Ports Authority, also known as Mawani.
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Saudi Crown Prince Mohammed bin Salman Heads to Turkey after Visiting Jordan, Egypt
Saudi Crown Prince Mohammed bin Salman landed in Turkey for the first time in several years on Wednesday for talks with President Erdogan, after visiting neighboring Egypt and Jordan as part of a regional tour, Reuters reports.
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Leaked Image Appears to Show Lucid Motors First Saudi Showroom in Riyadh
U.S.-based Lucid Motors appears poised to open its first showroom in Riyadh, a photo published on an EV-focused news site confirms.
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Saudi Arabia is ‘Experiencing a Housing and Mortgage Boom’ as Vision 2030 Reform Efforts Drive Progress
Saudi Arabia is “experiencing a housing and mortgage boom, reflecting a government drive to boost home ownership as part of efforts to shake up the oil kingdom’s economy and its ultraconservative society,” the Financial Times reports.
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Report: Kingdom to Use Some Oil Windfall on Boosting Private Sector
Saudi Arabia’s minister of economy and planning Faisal Alibrahim said the Kingdom will use this year’s oil windfall to accelerate the economy’s diversification from fossil fuels, Bloomberg reports.
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Saudi Arabia’s tourism sector, carbon capture investments, and a conversation on Saudi-Iraqi history with Joshua Yaphe
In episode 43, the U.S. State Department’s Joshua Yaphe joins The 966 to discuss his book, “Saudi Arabia and Iraq as Friends and Enemies: Borders, Tribes and a Shared History.” Yaphe is a foreign affairs officer with the U.S. Department of State; responsible for research and analysis of political, economic, security and social affairs related […]
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Report: Saudi to Add Over $10b in Mining, Mineral Opportunities
Saudi Arabia is planning to offer several projects to the private sector to tap its massive mineral wealth with a value of more than 40 billion Saudi riyals ($10.6 billion), Zawya reports, citing a local newspaper.
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Saudi Stock Market Continues Hot Streak, is Sixth Strongest Globally in 2022
Saudi Arabia’s benchmark index, the Tadawul All Share Index (TASI), is the sixth best performing globally “and gains may not be over yet,” analysts and fund managers believe, according to Bloomberg.
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Saudi Arabia’s New Red Sea Campaign Launches: Jeddah Welcomes First Visitors to Luxurious, Eco-Friendly Destination
The Red Sea, one of Saudi Arabia’s most anticipated new developments, has launched an innovative campaign aimed at inviting the first wave of visitors to experience its offerings. This campaign, titled “Be The First,” was launched by Visit Red Sea, the tourism arm of the destination, in collaboration with Beautiful Destinations, a content studio and agency known for its creative endeavors. The campaign seeks to position the Red Sea as a must-visit location, enticing travelers with the opportunity to be among the first to explore this newly accessible region.
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Saudi Arabia, Morocco sign MoU to enhance health cooperation
A statement by Morocco’s health ministry said that the accord called for cooperation on improving health care quality and patient safety, and in combating pandemics and epidemics, including early detection and control measures, as well as in scientific research in health and medicine. It also facilitates information exchange in telemedicine.
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Over 44,000 Saudi families moved to first home in H1 2024: Sakani
The Sakani program revealed that 55,000 Saudi families benefited from the program during the first half of 2024, marking an increase of nearly 8% compared to the same period last year, which saw 51,000 families benefiting.
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Will Riyadh Metro ease the city’s traffic jams? What you need to know
Reports indicate that parts of the 176 km system could launch this year or early 2025. However, authorities have not announced anything official yet. The project was first launched in 2014, with an initial plan to complete it by 2019. But for various reasons, including Covid-19, the construction of Riyadh Metro has taken longer than expected.
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12 Saudi Universities Make the Top 1,000 Worldwide
Saudi Arabia is celebrating a major milestone in higher education, with 12 of its universities making it into the prestigious top 1,000 worldwide institutions for 2024 according to the Shanghai Ranking. Al-Benyan emphasized that this progress is in line with Vision 2030’s goals and reflects the dedication to improving education and research systems. The University Affairs Council, along with various bodies, has been working hard to ensure that Saudi universities not only meet but exceed global standards of excellence.
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China, Saudi Arabia top buyers of Russian fuel oil in July, LSEG data shows
China and Saudi Arabia were the top destinations for Russian seaborne fuel oil and vacuum gasoil (VGO) exports in July, traders said and LSEG data showed on Friday. Russian fuel oil and VGO seaborne exports last month rose 7% from June to about 4.05 million metric tons, helped by completion of seasonal maintenance on Russian refineries.
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Saudi Arabia’s Electricity Consumption Soars, Oil Burn Doesn’t
Saudi Arabia electricity generation surged by 6% in the first half of the year. Yet oil burn is down against 2023 levels thanks to higher gas availability and the growing role of renewables in the power mix. Higher fuel oil imports in June raise questions over whether oil burn gains may return in H2.
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Saudi Arabia’s PIF partners with CONCACAF to boost football development
The Confederation of North, Central America, and Caribbean Association Football (CONCACAF) has announced a strategic partnership with Saudi Arabia’s Public Investment Fund (PIF) to elevate football development across the region. The multi-year collaboration will focus on bolstering grassroots football, expanding youth championships, and nurturing young talent. By investing in programs like the CONCACAF under-15, under-17, and under-20 championships for both men and women, the partnership aims to create more opportunities for aspiring footballers.
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Saudi brothers make waves in open-water swimming
Abdulrahman Boksmati and Ghaith Boksmati from Jeddah are the first Saudis to complete the 20 Bridges swim in Manhattan, New York. The 48.5 km loop around the island is one of three swims that constitute “the triple crown” of open-water swimming. The title is bestowed on swimmers who complete the Catalina Channel, the English Channel, and the largest of the three, the Manhattan 20 Bridges.
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Qiddiya’s Performing Arts Centre: Where innovation meets culture in Saudi Arabia
The Qiddiya Investment Company (QIC) is set to redefine the cultural and entertainment landscape of Saudi Arabia with the launch of the Qiddiya Performing Arts Centre. As the first cultural asset of the newly announced Qiddiya City, this state-of-the-art venue is designed to become a symbol of creativity and a cornerstone of the Kingdom’s cultural evolution. In an exclusive interview with Saudi Gazette, Majed Aldusaimani, Director of Public Relations and Media Liaison at QIC, shared insights into the vision, technological advancements, and future aspirations for the Performing Arts Centre.
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