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Saudi Arabia’s Pension Fund Says it Hit Returns of 14% as it Reveals Finances for First Time – Report
The investment arm of Saudi Arabia’s General Organization for Social Insurance, the Kingdom’s pension fund, said it delivered returns of over 14% last year, as markets globally experienced strong growth, according to a report in Bloomberg.
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The 966 Episode 19: Saudi Arabia’s ‘Nitaqat’ Reforms and Doing Business in Riyadh with Guest Chris Johnson
Episode 19 of The 966 weekly podcast with special guest Chris Johnson, managing attorney, Johnson & Pump and Chairman, MECACC & KKR Saudi Arabia. Chris is a resident of Riyadh and, along with his legal work, publishes a terrific weekly newsletter. The hosts and Chris discuss a handful of topics including Nitaqat in Saudi Arabia, […]
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Saudi Arabia’s PIF to Purchase Italy’s Financially-Distressed Inter Milan FC – Report
Saudi Arabia’s Public Investment Fund (PIF) is in the final stages of acquiring a majority stake in one of Italy’s top football clubs, Inter Milan, according to reports.
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Saudi Energy Minister Warns of ‘Dangerous’ Energy Crises with Reduced Investment in Production
Saudi Arabia’s energy minister Prince Abdulaziz bin Salman al-Saud said on Monday that oil markets could face a dangerous period marked by undersupply and volatility if the world reduces investments in exploration and drilling, according to reports.
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Saudi Government Reacts to Potential Omicron Variant Threat, Blocks Travel from 18 Countries
Saudi Arabia, whose proactive and comprehensive response to the Coronavirus pandemic that started in 2020 placed the Kingdom in an enviable position globally as new daily cases remain under 100 since September, is taking initial precautionary measures to the new potential threat of the Omicron variant, according to reports.
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Saudi Approach to Pandemic a ‘Model to the World’; Challenges and Opportunities in Kingdom’s Healthcare Sector
Saudi Arabia has all but defeated the Coronavirus pandemic within its borders. New cases in Saudi Arabia have remained below the 100 mark since mid-September, making the Kingdom the envy of most other countries who are struggling to keep the virus under control. A new report from Jadwa Investment highlights how Saudi Arabia’s approach to dealing […]
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The 966 E12: The Price of Oil in 2022, Redefining Saudi Citizenship, and Two New Mega-Developments in Saudi Arabia
In Episode 12 of The 966, the hosts tackle a recent oil price prediction from the IEA, a new Saudi Royal Decree that grants citizenship to “exceptional” people, and discuss the two newly announced mega-developments in Saudi Arabia and how they stack in comparison to the other mega- and giga-projects in the Kingdom.
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Saudi Arabia Turns on the Taps: Crude Exports Rise for 5th Straight Month
Saudi Arabia continues to ratchet up crude oil exports to meet demand as prices rise, with exports rising in September for a fifth month in a row to their highest since January, Reuters reports, citing the Joint Organization Data Initiative (JODI).
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State Department Releases U.S.-GCC Iran Working Group Statement; Calls for Iran to ‘Seize the Diplomatic Moment’
Diplomats from the U.S., Saudi Arabia and other GCC nations convened in Riyadh this week to discuss a coordinated effort to counter Iran’s “range of aggressive and dangerous policies,” the State Department confirmed in a statement.
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Lydia Ko Wins Aramco Saudi Ladies International by Five Shots
Lydia Ko shot a 65 in the final round on Sunday of the Aramco Ladies International to win the tournament by five strokes. Ko shot a 63 on Saturday to take a four stroke lead going into the final day of the tournament, tying the course record and helping her achieve a winning score of 23 under […]
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Taekwondo-Abutaleb falls short of medal but breaks new ground for Saudi women
Saudi Arabia's taekwondo athlete Dunya Abutaleb failed to win a medal at the Paris Games on Wednesday but broke new ground for women in her country as she just missed out on bronze. The 27-year-old, who came third at the 2022 World Championships in the flyweight (-49 kg) category, is the first Saudi woman to earn direct qualification to the Olympics.
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Saudi Arabia to host donor conference for Sahel region in Jeddah in October
Saudi Arabia will host a donor conference to support internally displaced persons and refugees in the Sahel and Lake Chad region in Jeddah on October 26 this year.
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Stunning Blue Waters Is Not What You’d Expect From This Up-and-Coming Destination
Within the grass-dappled desert around Six Senses Southern Dunes in northwestern Saudi Arabia, where camels graze at a distance and the only sound is the fizz-pop of sparkling water, a small folding table covered in a white linen cloth awaits me. Atop it: a barbecue platter so full, so juicy, it triggers a growl in my stomach like a well-timed Foley effect. There’s grilled wagyu striploin, chicken kebabs and lamb chops, roasted potatoes and grilled asparagus—a comical amount of food for a party of one.
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Industry Ministry opens bidding for 7 exploration licenses on 1,000 sq. km areas
This is part of the ministry’s Accelerated Exploration Program initiative, which aims to expedite the exploration and development of the Kingdom’s estimated SR9.3 trillion worth of mineral resources, in line with the Saudi Vision 2030 objective of making the mining sector the third pillar of the national industry.
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Saudi Institutions Intensify Efforts to Activate Maritime Shipping Lanes with Djibouti
Three Saudi government and private entities are leading intensive efforts to activate maritime shipping lanes between the Kingdom and the Republic of Djibouti, to maximize the benefits of Saudi Logistics City in the Port of Djibouti's free zone. The city, established through an agreement signed in June, enables Saudi exports to reach 500 million consumers in East African markets. It will have permanent warehouses, yards, logistics services, and administrative facilities, and will provide investors and traders with all storage requirements.
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Israel kills 40 Palestinians in Gaza airstrikes amid fears of wider war
Israeli forces stepped up airstrikes across the Gaza Strip on Thursday, killing at least 40 people, Palestinian medics said, in further battle with Hamas-led militants as Israel braced for potential wider war in the region. Israeli airstrikes hit a cluster of houses in central Gaza's Al-Bureij camp, killing at least 15 people, and the nearby Al-Nuseirat camp, killed four, medics said. Nuseirat and Bureij are among the densely populated enclave's eight historic camps and seen by Israel as strongholds of armed militants.
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Survival of the fittest: Petrochemical makers battle global glut
Petrochemical producers in Europe and Asia are in survival mode as years of capacity build-up in top market China and high energy costs in Europe have depressed margins for two consecutive years, forcing firms to consolidate. The sector's weakness is troubling for a global oil industry looking at petrochemicals to keep profits rolling in as transportation fuel demand falls in coming years with the energy transition.
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It’s increasingly difficult to see how Qatar can broker a Gaza breakthrough
When the longtime political chief of Hamas was assassinated in late July 2024, it didn’t just leave the entire Middle East on edge. It also created a political headache in Qatar. That’s because the death of Ismail Haniyeh, the result of an apparent Israeli operation, struck a blow to Doha’s already sputtering diplomatic efforts in the Middle East.
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Everything you need to know about the first Saudi Arabia Snooker Masters
Saudi Arabia Snooker Masters’ first event is Battle on the Blaze. The event will welcome some of the world’s biggest snooker players. Ronnie O’Sullivan will headline the event and compete for the trophy. The line-up also includes Mark Allen, John Higgins, Shaun Murphy, Mark Selby, Judd Trump, Kyren Wilson and Mark Williams.
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Saudi Communications Ministry Unveils 2nd Phase of Source Tech Initiative to Boost Digital Economy
The Saudi Ministry of Communications and Information Technology has announced the start of the second phase of the Source Tech initiative, which is part of efforts to boost the Saudi digital economy. This phase's launch follows the initiative's success in its first stage, which established more than 15 tech centers in six regions across Saudi Arabia. The initiative aims to maximize cooperation with the private sector to localize application and software development, outsourcing, and communication services within the Kingdom.
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