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More than 50 Members of U.S. GOP ‘Foreign Policy Community’ Write Open Letter Calling Donald Trump Unfit for Office
An open letter signed by over 50 members of the Republican foreign policy community, including former Department of Homeland Security Secretary Michael Chertoff and former Deputy Secretary of State Robert Zoellick, has called Donald Trump unfit for office and pledged to work to stop him from receiving the Republican nomination. “We the undersigned, members of […]
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Nitaqat Effort Suffers Setback: 2015 was the ’Slowest Annual Increase on Record for Saudi Net Employment’ as Most New Jobs Still Going to Non-Saudis
A recently released Jadwa Investment report on Saudi Arabia’s labor market found little headway being made in Saudi Arabia’s goal of increasing employment of Saudis. According to Jadwa Investment, although Saudi Arabia’s unemployment rate fell slightly from 11.7 percent in 2014 to 11.5 percent in 2015, “of these positions, 368 thousand (or 88 percent) […]
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Saudi Central Bank Announces an ‘Affordable Mortgage’ Program Intended to Boost Housing Sector
Saudi Arabia’s central bank said in a statement it plans to launch an “affordable mortgage” program to finance residential real estate purchases by Saudi citizens, according to reports. Home buyers would be responsible for a down payment of 15 percent of the property’s value, and commercial banks would supply a further 70 percent. An additional […]
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‘Saudi Student Boom’ for U.S. Colleges and Universities may be Slowing as Scholarship Program Evolves
A number of reports have indicated that the popular King Abdullah Scholarship Program (KASP) that has placed hundreds of thousands of Saudi students at academic institutions all over the world is being reviewed and can anticipate significant changes with regard to the program’s size and scope. In 2014 over 207,000 Saudi students and dependents were […]
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State Department Approves $200m Services Contract Request from Saudi Arabia which will ‘Increase U.S. – Saudi Arabia Military Interoperability’
The State Department has approved a request for continued support services to Saudi Arabia at an estimated cost of $200 million. According to a release from the Defense Security Cooperation Agency (DSCA), the sale “will enhance the foreign policy and national security objectives of the United States by helping to improve the security of an […]
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Saudi Arabia’s War in Yemen Could Put Pressure on Future European Arms Deals
On February 25th, European Union lawmakers are gearing up for a vote on whether to call for an embargo on weapons sales to Saudi Arabia, according to a report in the Canada-based Globe and Mail. Concern in Europe is mounting over Saudi Arabia’s war in Yemen, and the use of European military equipment sold to […]
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Popular King Abdullah Scholarship Program Reported to have New Restrictions along with Reduced Budget
Saudi Arabia’s King Abdullah Scholarship Program (KASP) has reportedly been narrowed to include only top universities and programs, months after the program was expanded to include all students and their families. Founded in 2005 and one of the late King Abdullah’s legacy programs, the scholarship fund covers full tuition, medical insurance, a monthly stipend for living expenses, and […]
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Little Upside in Latest Jadwa Saudi Chartbook
Riyadh-based Jadwa Investment’s latest monthly chartbook overviewing the Saudi economy contains mostly negative economic data on consumer spending, activity, government accounts, and inflation. Economic data for the month of December 2015 indicates a slowdown in activity, and data on consumer spending continued to point to a softening trend, while PMI fell to a record low, […]
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With affordable housing in short supply, new JV set to provide mortgage loans to low and middle-income Saudis
A new joint venture between Saudi Arabia’s Ministry of Finance (MoF) and the Islamic Corporation for the Development of the Private Sector (ICD) has received approval to provide loans to low and middle-income Saudis, in what could be a much-needed boost for access to mortgages in the Kingdom. Bidayaa Home Finance was launched to provide […]
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U.S. Chamber of Commerce and Council of Saudi Chambers Kick-off U.S.-Saudi Arabia CEO Summit
On January 24, 2016 at the Council of Saudi Chambers of Commerce building the U.S.-Saudi CEO Summit kicks off a focused, high-level private-sector initiative to assess the U.S.-Saudi commercial and business environment in order to enhance bi-lateral trade, investment and cooperation. The Saudi-US Trade Group team is in Riyadh to participate in the inaugural U.S.-Saudi […]
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Saudi Arabia falls to Jordan, ending 13-year World Cup qualification streak
Saudi Arabia suffered their first defeat in nearly 13 years in home World Cup qualifiers after losing to Jordan in Riyadh on Tuesday. The Green Falcons finished second in Group G but still went through to the next round of qualifiers for the upcoming World and Asian cups. Jordan topped the group with 13 points, exactly the same as Saudi Arabia, but had a superior goal difference.
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Saudi Aramco Needs To Balance Investor Needs Against Oil Prices
Saudi Arabia’s oil giant Aramco looks caught between a rock and a hard place. It seeks to win over new investors, especially foreign ones, while at the same time – as the world’s top crude oil exporter and the biggest OPEC producer – not allowing oil prices to crash. Aramco has just priced its secondary share offering at the lower end of the previously set range, in a sign that it is now focused on winning over international investors.
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Saudi crown prince receives Kuwaiti counterpart in Jeddah
Saudi Arabia’s Crown Prince Mohammed bin Salman received on Tuesday in Jeddah his Kuwaiti counterpart Sheikh Sabah Khaled Al-Hamad Al-Sabah. The Kingdom’s host welcomed the Kuwaiti crown prince and wished him and his accompanying delegation a pleasant stay, the Saudi Press Agency reported. Sheikh Sabah Khaled expressed his happiness at visiting the Kingdom, and appreciation of the warm hospitality and gracious reception he and his delegation received.
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Saudi Arabia sees 14% spike in remittances amid digital transformation
Saudi Arabia saw a 14 percent annual increase in remittances by expatriates in April, with the total amount reaching SR11.35 billion ($3.03 billion), the latest data showed. Meanwhile, payments from Saudis, which constitute 30 percent of total personal transfers, saw a 30 percent increase during this period, totaling SR4.94 billion, according to the Saudi Central Bank, known as SAMA.
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Blinken in Middle East pushes Gaza ceasefire deal
US Secretary of State Antony Blinken has visited Cairo and Jerusalem as he attempts to build regional support for a draft Gaza peace deal recently unveiled by President Joe Biden.
The top American diplomat met with foreign leaders, including Israeli Prime Minister Benjamin Netanyahu, on his eighth visit to the Middle East since the start of the war in Gaza.
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Pregnant Princess Rajwa dressed by Saudi designer for Jordan’s Silver Jubilee
Princess Rajwa Al Hussein – the wife of Crown Prince Al Hussein bin Abdullah II – seemingly paid homage to her home country of Saudi Arabia when she donned a gown by Saudi designer Honayda Serafi at King Abdullah’s Silver Jubilee celebrations.
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Saudi mining sector fastest growing investment hub globally: Ministry
Saudi Arabia's mining sector has experienced the fastest global growth rate in the development of a regulatory and fundamental environment to attract investments over the last five years (2018-2023), according to the Ministry of Industry and Mineral Resources. The ministry stated that Saudi Arabia has made significant global progress in the assessment of investment risks in the mining sector, which was issued by Minehutte and Mining Journal.
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China, Middle East Ties Accelerating
China sources about 50% of its oil from the Middle East and North Africa region, and about a third of its natural gas. While China is not as highly dependent on the Middle East for its energy as, say, Japan or South Korea, the region is clearly vital to its future. The flip side is also true. For several Middle East states (including US allies), China is their number one export destination. They include Saudi Arabia, Iraq, Iran, and Qatar.
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Johnson Controls Arabia to localize Japanese technology to support growing exports
Johnson Controls Arabia, a joint venture company with Johnson Controls International — a US Fortune 500 company — and Al Salem Group of Companies, is not just a local player. It is a prime example of how Saudi companies aspire to expand beyond the Kingdom and substantially affect the global stage, demonstrating the country’s growing influence in the international business arena.
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Saudi aid agency rehabilitates fish landing center in Yemen’s Hodeidah
Saudi Arabia’s King Salman for Humanitarian Aid and Relief Center (KSrelief) and the UN Food and Agriculture Organization (FAO) rehabilitated a fish landing center in Yemen’s Hodeidah, the Saudi Press Agency said. The site was renovated under the emergency support program to protect the agriculture, livestock and fishery-based livelihoods of highly vulnerable populations in Yemen, which is funded by the KSrelief.
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