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New Regulatory Framework Aims to Encourage Foreign Ownership of Real Estate in Saudi Arabia – Report
A new report in the London-based Asharq Alawsat revealed an under-consideration initiative within a larger national strategy new regulations enabling non-Saudis’ ownership of real estate in the Kingdom, a move that hopes to attract foreign capital and increase investments in the sector.
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Unemployment for Saudi Nationals Nears Pre-Pandemic Levels in Q4 2020
Unemployment among Saudi nationals fell to 12.6% in the fourth quarter, “moving closer to pre-pandemic levels as coronavirus cases in the kingdom declined and business picked up,” Bloomberg reports, citing data from the General Authority for Statistics. The figure represents a drop of 2.3% from 14.9% in the Q3 2020.
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President Joe Biden, Saudi Arabia’s King Salman Speak by Phone in First Call of New U.S. Administration
President Joseph R. Biden, Jr. spoke today with King Salman bin Abdulaziz al-Saud of Saudi Arabia to discuss the longstanding partnership between the United States and Saudi Arabia, the first such call between the two G20 nation leaders since Biden took office in January.
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Secretary of Defense Lloyd J. Austin III, Crown Prince Mohammed bin Salman Speak by Phone
On February 18, Secretary of Defense Lloyd J. Austin III spoke by phone with Crown Prince and Minister of Defense Mohammed bin Salman to “reaffirm the strategic defense partnership between the United States and the Kingdom of Saudi Arabia,” the Pentagon said in a readout of the call.
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U.S. Treasury Secretary Janet Yellen, Saudi Finance Minister Mohammed Al-Jadaan Speak by Phone to Discuss Coronavirus, Economic Recovery
U.S. Treasury Secretary Janet Yellen and Saudi Finance Minister Mohammed Al-Jadaan discussed the coronavirus pandemic and other issues during a call on Wednesday, the U.S. Treasury Department said. The call is the first between the two finance chiefs after Yellen’s approval as President Joe Biden’s Secretary of the U.S. Treasury.
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Saudi Arabia Fends Off Houthi Attacks on Civilian Targets, Will Continue to Treat Houthis ‘As a Terrorist Organization’
Yemen’s Houthi group said on Monday it had struck Saudi Arabia’s Abha and Jeddah airports with drones, knocking operations offline at the two international airports for two hours in a continuation of seemingly relentless attacks aimed at civilians. The Houthis confirmed the attacks on their Twitter account, according to Reuters. There was no Saudi confirmation […]
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Saudi Arabia’s Non-Oil PMI Ended 2020 with ‘Remarkable Rise’, TASI Flat in January – Jadwa Investment
Saudi Arabia’s non-oil Purchasing Managers Index (PMI) ended the year with a “remarkable rise” in December, with the index hitting its highest reading since November 2019, Jadwa Investment said in its latest Chartbook publication dated February 2021.
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In Rare Televised Appearance, Crown Prince Mohammed bin Salman Launches ‘The Line’, a Zero-Carbon Emissions City at NEOM
In a rare televised appearance on Sunday, Saudi Arabia’s Crown Prince Mohammed bin Salman unveiled ambitious plans for a new carbon-free city at NEOM, in the Kingdom’s northwest along the Red Sea.
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More Golf Stars Join List of Committed Players for Saudi International in February
More international golf stars have joined the growing list of players who have committed to playing in the Saudi International at Royal Greens Golf & Country Club, beginning February 4th 2021. Norwegian youngster Viktor Hovland and American Ryder Cup star Tony Finau are the latest top international stars to confirm their entry for the third edition […]
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OPEC+ Agrees on Output Increase by by 500,000 Barrels a Day in January – Reports
OPEC and Russia on Thursday agreed to a slight increase in production quotas in January, reducing their deep oil output cuts from January by 500,000 barrels per day, according to reports. The decision taken by OPEC and Russia signals the world’s biggest producers “are betting the worst of a pandemic-inspired shock to demand is behind them,” according to the […]
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MUST-READS
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How this Saudi hospital redefined its global healthcare branding
Saudi Arabia is making significant strides in artificial intelligence and state-of-the-art healthcare technology, earning recognition on regional and global platforms. This presents a compelling opportunity for Saudi healthcare communicators to embrace branding to extend their innovation and influence across the global industry.
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Middle East Trillions Force New Concessions From Wall Street
Sitting atop nearly $4 trillion and acutely aware of their importance to Western capital markets, the Middle East’s biggest state-controlled funds are increasingly asking asset managers what they’ll do in return for an investment. These firms are being urged — and at times required — to have more gatherings in the Gulf, set up local offices and bring more people to live and work in the area.
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China Energy Engineering signs $972 million solar deal with Saudi partners
China Energy Engineering (601868.SS), opens new tab signed a 6.98 billion yuan ($972 million) contract to build a solar power plant in Saudi Arabia, a Monday filing with the Shanghai Stock Exchange, marking the latest in a string of China-Saudi renewable energy deals. The 2 gigawatt (GW) photovoltaic plant will be built by a joint venture between a China Energy Engineering consortium and Saudi partners sovereign fund PIF, ACWA Power (2082.SE), opens new tab, and Saudi Aramco Power Company.
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Saudi Arabia’s 2034 World Cup Bid: A Global Buzz!
Saudi Arabia’s bid to host the FIFA World Cup 2034 is sparking unprecedented excitement and national pride. Social media is buzzing with hashtags like #Saudi2034bid and #GrowingTogether as the world watches closely. Under the leadership of His Highness Mohammed bin Salman, this bid is more than a sporting event—it’s a leap towards Vision 2030 and a chance to showcase Saudi Arabia’s rich culture. With Cristiano Ronaldo’s endorsement fueling the buzz, the global anticipation is palpable.
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Saudi Arabia to continue bearing fees of expatriates working in industrial sector until end of 2025
The Cabinet decision comes in the wake of the expiry of the five-year waiving of expatriate fee for industrial workers. During 2019, the Saudi government, under a drive for job creation, had imposed fees on expatriate workers to encourage hiring of Saudis. However, the government waived fees on expatriate workers employed in the industrial sector for five years effective from Oct. 1, 2019. That decision was taken as part of the short-term urgent solutions to stimulate industrial investments in order to achieve the goals of the Kingdom’s Vision 2030.
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A trove of artifacts from Egypt’s last dynasty has been found in 63 tombs
A trove of artifacts from Egypt’s last dynasty has been discovered in 63 tombs in the Nile Delta area and experts are working to restore and classify the finds, an official with the country’s antiquities authority said Monday. The artifacts include gold pieces and jewelry dating to Egypt’s Late and Ptolemaic periods, and some items could be displayed at one of the country’s museums, said Neveine el-Arif, spokeswoman for the Ministry of Tourism and Antiquities.
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Incredible prize money for Saudi Arabia Snooker Masters confirmed
The Saudi Arabia Snooker Masters will be held for the first time in Riyadh later this month and will boast a top prize which matches the World Snooker Championship. The 144-player event begins on 30 August and a champion will be crowned on 7 September, a champion who will walk away with £500,000 for their troubles. The runner-up will pocket £200,000 and the semi-finalists £100,000, which are the same as the prizes won at the Crucible.
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A World Cup like no other – Saudi Arabia reveal their vision for FIFA’s 2034 tournament: Video
Saudi Arabia detailed a massive stadium building project Wednesday to host the 2034 World Cup in men’s soccer, with one venue 350 meters (yards) above ground in a planned futuristic city.
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5 World’s Most Beautiful Mosques; Mecca’s Masjid Al Haram Takes Lead
As reported by Best Diplomat, here is a list of the top 5 world’s most beautiful mosques. One of them is the Grand Mosque in Mecca or Masjid Al Haram, which holds a special place in the hearts of Muslims around the globe. All sites of great significance in Islamic tradition, including the Zamzam Well, the Tomb of Ibrahim, and the hills of Safa and Marwa, are located within the mosque’s complex. The Grand Mosque, which can hold more than four million worshipers, is evidence of Islam's influence around the world.
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Saudi crown prince receives group of princes, scholars, and citizens in Jeddah
Saudi Crown Prince Mohammed bin Salman hosted a group of princes, scholars, and citizens who came to greet him on Tuesday. The guests were hosted at Al-Salaam Palace in Jeddah and the gathering started with recitation from the holy Qur’an. Earlier on Tuesday, the crown prince chaired the weekly Cabinet meeting.
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