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Kingdom Climbs in International Budget Transparency Index
Saudi Arabia jumped 18 places in an index that measures the transparency of budgets worldwide as the Kingdom moves forward with economic and social reforms.
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Saudi Arabia Makes First Purchase of Wheat from Kingdom-Owned Farm
Saudi Arabia has made its first purchase of wheat grown from an overseas farmland investment in Ukraine, Reuters reports, as the Kingdom makes progress on a years-long shift toward agricultural imports and water conservation goals.
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Saudi Cabinet: Kingdom Prepared to ‘Take Extra Steps with OPEC+’ to Stabilize Oil Market
Saudi Arabia said on Tuesday it is monitoring oil markets and is ready to take extra measures to stabilize them along with OPEC+ allies and other oil producers, Reuters reports, citing an SPA report and Saudi Cabinet statement.
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Saudi Arabia, Russia Agree on Oil Cuts, Hope to Finalize Participation from Mexico, U.S.
Saudi Arabia, Russia and their allies will press Mexico on Friday to join an accord for collective oil production cuts equivalent to 10% of global supplies, Reuters reports, after the two heavyweights agreed on the cuts but Mexico “walked out” of talks yesterday at the last minute.
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Global Markets Plummet as Saudi, Russia Fail to Agree on Oil Supply
After the OPEC+ countries failed to come to an agreement on oil prices, Saudi Arabia dramatically cut its export prices over the weekend, creating the largest single-day oil price drop since the start of the Gulf war in 1991, according to reports.
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Saudi Ambassador to the U.S. Princess Reema bint Bandar Visits Wyoming, Gives Interview to Local Paper
Saudi Ambassador to the United States HRH Princess Reema bint Bandar Al-Saud visited the U.S. state of Wyoming this week and sat down with the local news outlet, the Wyoming Tribune Eagle, to talk about her visit to the state, the state of women’s rights in Saudi Arabia and the potential for business partnerships in Wyoming.
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Saudi Cabinet Shakeup Places Khalid Al-Falih in Charge of New Investment Ministry
Saudi Arabia has shaken up its government investment bodies with a major change to SAGIA, the Saudi Arabian General Investment Authority, making the body a full ministry and replacing former Governor Ibrahim Al-Omar with former Saudi Aramco head Khalid Al-Falih, the King revealed in a series of royal decrees. In three separate royal orders, Eng. Ibrahim bin […]
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Secretary of State Pompeo Arrives in Riyadh for 3-Day Visit, his Second of 2020
Secretary of State Mike Pompeo arrived in Riyadh today for a three-day visit to meet with Saudi officials. During his visit to Riyadh, Pompeo is scheduled to meet senior Saudi leaders and visit Saudi Aramco’s Khurais oil field, which was targeted in a missile attack in September that both the kingdom and the U.S. blame on Iran. Tehran denied involvement […]
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Princess Reema bint Bandar Gives First Interview to Arab Newspaper as Ambassador: ‘Saudi Arabia is Washington’s Closest Partner in Region’
Princess Reema bint Bandar gave her first interview with an Arab newspaper since assuming her position in Washington, telling Asharq Alawsat that Saudi Arabia is Washington’s closest partner in the region and that the strategic Saudi-American partnership is not affected by which party the president of the White House belongs to.
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Will Saudi Arabia soon be an exporter of gas?
Saudi Arabia plans to start exporting gas and will soon make a major announcement on the topic, the country’s energy minister said.
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Mandarin teachers get ready for Saudi Arabia
A total of 175 Chinese language teachers for primary and middle schools will begin their careers in Saudi Arabia in mid August. They will become the first batch of Mandarin teachers to serve in Saudi Arabia, honoring an agreement on enhancing cooperation in Chinese language education that the two countries made last year. They completed pre-service training at Tianjin Normal University from July 29 to Friday.
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Saudi Arabia’s World Cup Playbook
In many ways, the tournament will be the culmination of Saudi Arabia’s ambitions in the sport. Three years ago, the country’s powerful wealth fund bought Premier League club Newcastle United. Cristiano Ronaldo, one of the biggest names in the sport, joined local club Al Nassr for an estimated $200 million annual salary. Efforts to recruit Lionel Messi for $400 million a year didn’t pan out, but Brazilian Neymar and French striker Karim Benzema now play in the Saudi league.
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Saudi Arabia’s tourism transformation is all about diversification: Video
Religious tourism has long been a major driver for Saudi Arabia's economy. The government is now targeting growth in its wider travel and tourism industry, with potential gains for the private sector.
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U.S. to send more warships, fighter jets to Middle East to bolster defenses
The U.S. military will deploy additional fighter jets and Navy warships to the Middle East, the Pentagon said on Friday, as Washington seeks to bolster defenses following threats from Iran and its allies Hamas and Hezbollah. The U.S. is bracing for Iran to make good on its vow to respond to the killing of Hamas leader Ismail Haniyeh two days ago in Tehran - one in a series of killings of senior figures in the Palestinian militant group as the war between Israel and Hamas in Gaza rages.
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Visit Saudi: The Impact of Tourism on the Saudi Economy
The growth of tourism in the kingdom has been rapid. Spending by nonresidents visiting Saudi Arabia was four times higher in 2023 than in 2018. Meanwhile, spending by Saudi residents overseas is still below the peak of a decade ago. As a result, the net balance in the travel account of the balance of payments swung from a deficit of $3 billion in 2018 to a substantial surplus of $13 billion in 2023.
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‘Axis of Resistance’ girds for response to Israel’s ‘big mistake’
While there is little dispute that Israel’s Mossad spy agency was behind the killing of Hamas political bureau chief Ismail Haniyeh in Tehran, there is contention over the way in which he was assassinated. Meanwhile, Arab states caught between Iran and Israel are scrambling—together with their US ally—to constrain the eruption of an all-out war that may redefine the region.
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Qiddiya giga-project set to propel Saudi Arabia’s entertainment sector
Canadian company AtkinsRéalis is the lead design consultancy for the project, and the firm’s Global Director of Creative, Theming and Show Design Bradley Caruk set out his vision for Qiddiya to Arab News. “Having worked in the global entertainment industry for the past 25 years, I have learnt we are all the same. Everyone wants to have fun. With major innovative parks like Six Flags Qiddiya City, we have the unexpected – a fully immersive story-driven theme park experience,” he said.
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Saudi Arabia urges citizens to leave Lebanon immediately
Saudi foreign ministry urged its citizens on Sunday to leave Lebanon ‘immediately’ as regional tensions recently surged. In a statement, the ministry has reiterated its call for all Saudi nationals to avoid traveling to Lebanon. It said the Kingdom's embassy in Lebanon was closely monitoring the developments in the southern region of the country.
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Report: Netanyahu decides not to seek normalization with Saudis before US election
According to a report Sunday on Channel 12 news, Netanyahu made the decision because of the fast-moving US political developments, with the consideration that it might be worth waiting to see whether Republican nominee and former president Donald Trump is returned to the White House in the upcoming vote.
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Saudi Arabia to raise stake in Binladin Group to boost construction sector
Binladin’s history has been intertwined with the kingdom since the country was founded in 1932, according to a Bloomberg report. The construction firm has played a vital role in modernising the country by building highways, airports and economic freezones, and is also known for its work in the Islamic holy cities of Mecca and Medina. Meanwhile, the Public Investment Fund (PIF) is working with Morgan Stanley on a potential deal to buy into Binladin, said Bloomberg. The $925bn fund is considering acquiring part or all of the 36 per cent stake owned by the ministry of finance.
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