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Saudi Arabia’s NIDLP Sees Traction with $1.33b in Loans So Far
Saudi Arabia’s National Industrial Development and Logistics Program (NIDLP) has so far granted loans amounting to SR 5 billion ($1.33b) to over 40 Saudi exporters and increased private sector investments to over SR35 billion, according to a local Saudi newspaper report.
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Saudi Arabia to End Virus Curfews by June 21, Will Start ‘New Phase’ on Thursday May 28
Saudi Arabia said Tuesday that it will begin to end its nationwide coronavirus curfew this week, and completely phase out the curfews by June 21, according to comments from the Kingdom’s health minister Dr. Tawfig Al-Rabiah.
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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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Abbas Araghchi, Iran’s Experienced and ‘Revolutionary’ Incoming Foreign Minister
Araghchi’s appointment should be seen as a positive development at a time of high and rising tension in the region. In addition to his long experience in international affairs and nuclear talks, he enjoys robust “revolutionary” credentials that could partially shield him from domestic criticism should Iran make concessions on key issues.
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Saudi Arabia ranks 4th in road quality index in G20 countries
Saudi Arabia’s road quality index has risen to 5.7, placing the Kingdom in the fourth rank among the G20 countries, according to a survey carried out by the Saudi Roads General Authority. More than 77 percent of the roads across Saudi Arabia meets safety standards, exceeding the 66 percent targeted last year, the survey pointed out. These performance results were revealed 500 days after the Kingdom’s launching of the Roads Sector Strategy that focuses on safety, quality and traffic density, and based on its role in organizing and supervising the sector by setting the necessary policies, standards and procedures for the roads sector.
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Real’s Vinicius open to one billion euro Saudi offer, sources say
Real Madrid and Brazil forward Vinicius Jr is open to an offer of more than one billion euros from Saudi Arabia, sources close to the player told Reuters on Monday. Vinicius, 24, was approached by Saudi Public Investment Fund (PIF) officials to inquire about his interest of moving to the Saudi Pro League (SPL) on a five-year contract worth around 200 million euros per season fixed, plus bonuses. The package would also include a separate 10-year contract to become an ambassador for the 2034 World Cup, which is set to be held in the country, but those terms and financial numbers are yet to be discussed.
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Saudi Super Cup 2024 Preview: Quartet set for season curtain-raiser
Exactly 67 days after Al Hilal’s King’s Cup final victory over Al Nassr put the exclamation point on an enthralling 2023-24 Saudi football season, a new campaign begins in the Kingdom on Tuesday with the 11th edition of the Saudi Super Cup. Between 2013 and 2022, the Saudi Super Cup was a one-off match, but this will be the third time in a row it has been run as a four-team tournament, which Al Hilal most recently won just four months ago when the competition was hosted in Abu Dhabi. The 2024 Saudi Super Cup returns to its position as season curtain-raiser in August for the first time since 2018, when Al Hilal beat Al Ittihad.
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US to resume sales of offensive weapons to Saudi Arabia
More than three years after imposing limits on human rights grounds over Saudi strikes in Yemen, the state department said it would return to weapons sales “in regular order, with appropriate congressional notification and consultation”. “Saudi Arabia has remained a close strategic partner of the United States, and we look forward to enhancing that partnership,” the state department spokesperson, Vedant Patel, told reporters.
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Saudi Arabia’s Athir raises new investment round
Athir, a Saudi-based health tech company, has announced the successful closure of its first investment funding round. The round saw participation from Wa’ed Ventures, SHARE Investment Co., and RZM Investment. The “Athir HIS” system is the first fully integrated Saudi system for healthcare facilities, applied in both public and private sectors. This system integrates with various platforms like Absher, Sehhaty, Wasfaty, in addition to hospital healthcare systems and medical insurance management systems.
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Defense secretary orders submarine to Middle East
US Defense Secretary Lloyd Austin ordered a guided-missile submarine to the Middle East and accelerated the arrival of a carrier strike group to the region ahead of an anticipated Iranian attack against Israel, the Pentagon said in a statement Sunday evening. The USS Georgia, a nuclear-powered submarine armed with cruise missiles, was operating in the Mediterranean Sea in recent days, according to the Navy, having just completed training near Italy.
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Chinese Firms Deliver Massive Offshore Oil, Gas Rig to Saudi Aramco
A ultra-large offshore oil and gas collection and transportation platform, which is the biggest of its kind built by Chinese companies for a foreign client, was successfully handed over to Saudi Arabian oil major Saudi Aramco today, marking a new chapter for the country’s giant offshore oil and gas platform construction industry.
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Israel keeps up strikes in Gaza as fears of wider war grow
Israeli forces pressed on with operations near the southern Gaza city of Khan Younis on Monday amid an international push for a deal to halt fighting in Gaza and prevent a slide into a wider regional conflict with Iran and its proxies. Palestinian medics said Israeli military strikes on Khan Younis on Monday killed at least 18 people and wounded several. Meanwhile more families and displaced persons streamed out of areas threatened by new evacuation orders telling people to clear the area.
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Sudan peace talks moving forward, says US envoy
Talks to end Sudan's 16-month war between the army and the paramilitary Rapid Support Forces (RSF) will move forward this week, the U.S.'s special envoy said, despite little sign from either party that they seek a peaceful resolution. The Sudanese army has all but rejected the invitation, while the RSF has continued its costly offensives in parts of the country, despite welcoming the U.S. and Saudi initiative.
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