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  • Crown Prince Mohammed bin Salman Visits UK on Wednesday with Billions in Deals Eyed
     

    Saudi Arabia’s Crown Prince Mohammed bin Salman will arrive to the United Kingdom on Wednesday, his second stop in a multi-national tour with a broad economic and diplomatic agenda. The Crown Prince is due to meet Prime Minister Theresa May and other senior ministers, members of the royal family, as well as security officials and […]

     
  • VAT, Fuel Price Reforms Cause Bump in Saudi Inflation
     

    Inflation rose in Saudi Arabia in January 2018 by 3 percent year-on-year, and 3.9 percent month-on-month “largely as a result of the implementation of VAT and utility and fuel price reform during the month,” Riyadh-based Jadwa Investment confirmed in a research note. The data is based on official Saudi figures released by the government. The figures suggested […]

     
  • King Salman Replaces Top Military Commanders in Cabinet Shuffle
     

    Saudi Arabia has replaced some of its top military officers by royal decree, elevating a younger generation as the war in Yemen approaches its fourth year without a victory. No reason was given for the changes, according to Bloomberg and the Financial Times. King Salman appointed First Lieutenant General Fayyad bin Hamed al-Ruwayli as chief […]

     
  • Major Leap for Saudi Economy as Kingdom Set to Introduce Bankruptcy Laws
     

    Saudi Arabia’s cabinet has approved a bankruptcy law that is likely to be a boost to the Kingdom’s efforts to attract investment and provide protection for entrepreneurs, according to reports. King Salman has reportedly endorsed the new law. As Reuters reports, modern bankruptcy legislation does not currently exist in Saudi Arabia, which creates difficulties for struggling companies seeking to restructure […]

     
  • Development on Jeddah Tower and Surrounding Economic City Moves Forward After Alwaleed’s Release
     

    Construction of what is planned to be the world’s tallest skyscraper in Jeddah is going ahead following the release of Saudi Arabia’s Prince Alwaleed bin Talal, the head of the consortium behind the $1.5 billion project said. Mounib Hammoud,  chief executive of Jeddah Economic Co (JEC), said in an interview that the project will ideally be completed […]

     
  • Saudi Economy to See 1.5% Growth in 2018, Jadwa Says
     

    The Saudi Arabian economy will grow by an estimated 1.5 percent in 2018, up from a contraction in 2017 of -0.7 percent, according to a new report from Riyadh-based economic analysts at Jadwa Investment. “The oil sector will see the largest improvement in the year ahead, rising to 1.5 percent in 2018, compared to a decline […]

     
  • Saudi Crown Prince Mohammed bin Salman will Visit Washington, Other U.S. Cities in Early March
     

    The Royal Embassy of Saudi Arabia in Washington is working to organize a visit by crown prince Mohammed bin Salman to the United States in early March, the first trip to the U.S. since he became crown prince last year, according to reports. Rumors of a forthcoming visit by the powerful crown prince have surfaced in […]

     
  • At Davos, Saudi Leaders Discuss Energy, Foreign Policy on World Stage
     

    Saudi government leaders arrived to Davos, Switzerland for the annual World Economic Forum to meet with other world leaders and discuss key foreign policy and energy challenges facing the Kingdom. The 48th Annual Meeting in Davos will host 3,000 participants across all stakeholder groups including public & private sectors, civil society, academia, media, and arts & culture. The Saudi delegation is led […]

     
  • Report: Saudi Government, SBG in Talks for State Takeover of Troubled Construction Giant
     

    Saudi Arabia is taking managerial control of Saudi Binladin Group (SBG) and discussing a possible transfer of some of the giant construction group’s assets to the state while its chairman and other family members are in detention, Reuters reports today citing sources. Binladin is the biggest builder in the country and important to Saudi Arabia’s plans for […]

     
  • Saudi Aramco, Partners Launch Offshore Focused Shipyard at Ras Al-Khair Industrial City
     

    Saudi Aramco and partners announced a joint venture to build a shipyard on the kingdom’s east coast, part of the Saudi Arabian government’s drive to diversify the economy beyond oil. Along with UAE-based Lamprell, the National Shipping Company of Saudi Arabia (Bahri), and South Korea-based Hyundai Heavy Industries, Saudi Aramco says the shipyard will be focused on […]

     

MUST-READS

  • Saudi Arabia, US working on ‘history making agreement:’ US ambassador in Riyadh

    “We are now working with the Saudi government and Saudi companies in areas that we would not have imagined in the past, for example, space exploration for commercial purposes,” the US ambassador said. “The Kingdom has huge ambitions in the commercial space, and we as companies want to be there with them.”

  • Healthy eating doesn’t have to be boring, says Saudi Instagram star

    Bakur Tamim, a Saudi food influencer with over 300,000 Instagram followers, is shaking up the way we think about healthy eating. The Jeddah-based culinary wizard is known for whipping up delicious, low-calorie meals that are as visually stunning as they are nutritious, giving his audience alternatives to bland salads and tasteless protein shakes.

  • The Rise of Saudi Arabia’s Oil Empire

    Saudi Aramco, originally founded as the California-Arabian Standard Oil Company in the 1930s, began its journey after oil was discovered in the Eastern Province of Saudi Arabia. The company was established through a partnership between Saudi Arabia and Standard Oil of California (now Chevron). Over the decades, it grew from a regional enterprise into the world’s largest oil producer, pivotal in the development of Saudi Arabia's economy and its global economic influence.

  • Inaugural Esports World Cup signs off with historic closing ceremony

    Over the course of eight consecutive weeks, the EWC hosted 1,500 athletes and over 200 clubs, with a record-breaking $60m prize pool up for grabs across 22 tournaments and 21 titles. The ceremony concluded the biggest weekend in esports history, which also featured the 2024 Esports Awards and 2024 New Global Sport Conference.

  • Saudi Arabia launches Phase I of Riyadh Parking Project

    Phase I of the project is to create and manage over 24,000 public parking spaces in public and commercial streets, in addition to the management of more than 140,000 parking spaces in nearby residential neighborhoods. The phase will cover 12 areas distributed across the Al-Wurud, Ar Rahmaniyyah, West Olaya, Al-Murooj, King Fahd, and Al-Sulaimaniyah districts, in addition to four other areas in the southern neighborhoods of Riyadh.

  • BlackRock partners with Saudi Arabia to develop kingdom’s property finance market

    “We look forward to partnering with the Saudi Real Estate Refinance Company to advance mortgage securitisation and other capital markets solutions,” a BlackRock representative told The National. “SRC and BlackRock share the objective of enabling and unlocking institutional capital in this growing, high quality fixed income asset class.” The new deal comes after BlackRock announced a partnership with PIF in April to open a multi-class investment firm in Riyadh, anchored by an initial investment mandate of up to $5 billion from the Saudi wealth fund, to drive further growth of the kingdom's capital markets and attract more investment.

  • Here Are the People Who Lost Millions Backing Musk’s Twitter Takeover

    Elon Musk took Twitter private in 2022, but he didn’t do it alone: the deal was backed by his wealthy allies in Silicon Valley, embattled hip-hop mogul Sean “Diddy” Combs, and holding companies based in Saudi Arabia and Qatar, according to a court document ordered unsealed by federal judge on Tuesday, which were first seen by the public late Wednesday night.

  • Saudi father’s simple post on social media goes viral

    Abdulkarim Al-Kazraj, a respected author and passionate advocate for social and cultural issues, recently took to X to share a poignant moment from his family’s life. What began as a simple post to mark his daughter Laura’s first day of middle school quickly went viral, capturing the hearts of thousands and sparking meaningful conversations across the nation. Al-Kazraj’s post featured a side-by-side photo comparison of Laura on her first day of school in 2018 and her first day of middle school in 2024.

  • What Maersk’s $250M logistics park means for Saudi Arabia

    Danish shipping and logistics company Maersk is building a 225,000-square-meter facility in Saudi Arabia's Red Sea-facing Jeddah Islamic Port. The company is investing $250 million in developing a key logistics hub with the Saudi Ports Authority, also known as Mawani. The facility allows for connectivity over land, sea and air. It has warehouses for e-commerce and business requirements and caters to a wide range of sectors such as fast-moving consumer goods, frozen food, automotive, retail and lifestyle, petrochemicals, electronics and pharmaceuticals. The logistics hub will also provide and first- and last-mile deliveries, as well as custom services.

  • No longer a financial reservoir? Saudi Arabia’s spending confirms clear shift in strategy

    The fund’s investments in domestic infrastructure and real estate development grew 15% year-on-year to 233 billion riyals, while its foreign investments increased 14% to 586 billion riyals. At the same time, the Saudi government introduced laws and reforms to facilitate and even mandate investment in the country as it builds out its Vision 2030 plan to diversity its oil-reliant economy.