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Al-Jubeir: Yemen’s War in the ‘Final Stage’; But Victory May Still Prove Elusive
Saudi Arabia’s Foreign Minister Adel Al-Jubeir said that the Saudi-led coalition battling the Houthi rebels in Yemen is entering its final stages. “I am confident that the Yemeni conflict has entered its final stage, and I’m optimistic,” Al-Jubeir said. “There are indications that the war in Yemen is entering a final phase. The legitimate government […]
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Ahead of Critical Syrian Peace Summit, Saudi Arabia Looks to ‘Test’ Iran on Commitment to Peace
Vienna, Austria will play host to a crucial meeting on Friday on the future of Syria and international efforts to end the bloody 4-year civil war that has left hundreds of thousands dead and has served as a breeding ground for Daesh, or the self-described ISIS. For the first time, all the main powers with […]
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Bomb Rips Through Shia Mosque in Najran City, Saudi Arabia, Killing One; Daesh Claims Responsibility, Suspect Named
A bomb ripped through a Shia mosque in Najran City in Saudi Arabia yesterday, killing one and injuring at least 16 people in the latest in a spate of murderous attacks across Saudi Arabia in the last year. Daesh has claimed responsibility for the suicide bombing at the al-Mashhad mosque. Saudi Authorities have named a suspect. […]
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Report: U.S. State Department Approves Sale of $11.5b Littoral Combat Ships to Saudi Arabia, Latest in ‘Biggest Year Yet’ for U.S. Arms Sales
The State Department has approved the sale of as many as four Littoral Combat Ships for $11.25 billion under the Foreign Military Sales program according to an official cited by Bloomberg. The approval allows the Saudis to negotiate contracts for the ships unless Congress passes legislation to block the deal, the report said. The news […]
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Perspective: “Lessons from America’s Continuing Misadventures in the Middle East” – Chas Freeman’s Speech to AUSPC in Washington
In the opening keynote at this year’s 24th Arab-US Policymaker’s conference, Ambassador Chas W. Freeman, Jr. discussed the lessons from America’s “continuing misadventures in the Middle East.” The event, hosted by the National Council on U.S.-Arab Relations in Washington, D.C., enters its second day today at the Ronald Reagan International Trade Center. Ambassador Freeman chairs Projects […]
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Jadwa October 2015 Chartbook: Investment in Foreign Securities Recorded a Monthly Increase, First Time in 2015
Investment in foreign securities recorded a monthly increase for the first time in 2015, an indication that pressure continued to be relieved off foreign reserves as the main deficit financing tool, according to a recently released report by Riyadh-based Jadwa Investment. Additionally, net monthly withdrawals from government accounts continued to be small in August compared to […]
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Saudi Students in the U.S. Increased 20% from 2013/2014 and Are Increasingly Placed in Diverse Institutions, Study Finds
A recent report on Saudi students in the United States by World Education News and Review (WENR) found that Saudis studying in the U.S. have increased by 20% in the last year and often apply to a wider range of schools other than the elite institutions that are a typical focus of international applicants. The […]
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HRH Prince Turki al-Faisal, in First Interview with Israeli Media, Chides Netanyahu for Refusing Peace
HRH Prince Turki al-Faisal gave his first televised interview with the Israeli media station Haaretz, and told the outlet that if Netanyahu was a far-sighted leader, he would negotiate on the basis of the Arab Peace initiative. If Benjamin Netanyahu “was more of a far-sighted leader, he would break the logjam and negotiate on the […]
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14 Years After 9/11 Attacks, U.S. Judge Throws Out Suit Against Saudi Arabia
A U.S. judge on Tuesday dismissed claims against Saudi Arabia by families of victims of the Sept. 11, 2001 attacks, just over 14 years after the strikes on the World Trade Center towers and the Pentagon. U.S. District Judge George Daniels in Manhattan said Saudi Arabia “had sovereign immunity from damage claims by families of […]
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SAMA Draws Down on ‘$50-70 Billion’ From Foreign Assets in Face of Sustained Oil Price Slump
Saudi Arabia is seeking to cut its widening deficit and “reduce exposure to volatile equities markets amid the sustained slump in oil prices” as it draws down a reported $50-$70 billion from foreign holdings around the world in 2015, according to a Financial Times report. The sale of assets is in line with estimates on […]
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MUST-READS
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Under the Abaya: Uncovering Saudi Women’s Individualities
Under the Abaya focuses on enabling Saudi women to access high-quality education through an innovative business model. The initiative publishes books that provide a rich insight into the life of women in Saudi Arabia, put together by the women of Saudi Arabia. The profits of these books then go on to fund scholarships, as well as female-led charitable causes, for eager Saudi female learners.
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Saudi Arabia welcomes deal between Yemeni government, Houthis
Saudi Arabia on Wednesday welcomed a deal between Yemen’s government and the Iran-backed Houthi militia to halt tit-for-tat banking sanctions. The deal was announced on Tuesday by Hans Grundberg, the United Nations’ envoy to Yemen, in a bid to end the warring parties’ battle for control over the country’s financial institutions.
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Cristiano Ronaldo tops list of highest paid players in Saudi Arabia [See top 10]
Portugal forward and captain of Al Nassr Cristiano Ronaldo currently tops the list of the highest paid players in the Saudi Pro League. Following his move to Al Nassr in January 2023 after parting ways with Manchester United, Ronaldo has continued to make headlines not just for his on-field performances but also for his staggering earnings.
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Leonardo expands proximity support services for helicopters in the Kingdom of Saudi Arabia
One of the largest operators of Leonardo helicopters in the Middle East; Mukamalah Aviation Company has been operating AW139s since 2008 and AW109 light twins since 2006, mainly to perform offshore transport missions in Saudi Arabia to support the oil and gas industry. Today’s Mukamalah Leonardo helicopter fleet consists of 27 units.
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Turkey returns $5bn Saudi deposit in show of economic confidence
Turkey’s central bank has handed back to Saudi Arabia a $5bn deposit, underscoring Ankara’s progress in replenishing its foreign currency stores as part of its economic turnaround effort. The deposit agreement Turkey forged with the Saudi Fund for Development in March 2023 was terminated by mutual agreement, the Turkish central bank said on Wednesday. Turkey’s move to unwind the agreement is the latest sign of how President Recep Tayyip Erdoğan’s pivot to more conventional policies following his re-election in May 2023 is steadying the country’s $1tn economy.
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Saudi Arabia tops GCC bond market with $37b issuance
Saudi Arabia emerges as the leading issuer in GCC bond market by raising $37 billion (Dh135.8 billion) through 44 issuances during the first half of 2024. This amount reflects a 12.5 per cent increase from the same period last year and represents 49 per cent of the total new supply of GCC bonds and sukuk, according to the Markaz GCC Bonds and Sukuk Market Report. Overall, the GCC primary issuances reached $75.5 billion (Dh277 billion) during this period, marking a significant 38 per cent rise from $54.8 billion (Dh201 billion) in the first half of 2023.
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Sports Powerhouse IMG Forges Broadcast Production Partnership With Saudi Soccer Entities
Starting from the 2024-25 season, IMG will take on the role of broadcast producer on top of being distributor outside the Middle East and North Africa (MENA) region for the Roshn Saudi League, King’s Cup and Saudi Super Cup in tandem with their partners.
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Saudi Arabia Building New City of ‘Smart Homes’ for 120,000 People
Potential buyers can choose from six types of villas ranging from 216 to 413 sq meters. There are also plans to build four apartment blocks with one- to three-bedroom units. According to specialized news outlet Construction Briefing, the foundation for the project was laid in May. Saudi news outlet Asharq Al-Awsat reported that on July 9 the Talaat Moustafa Group told the Egyptian stock exchange that Banan City had achieved unprecedented sales and surpassed its year one target in just two months.
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Can Saudi Arabia become a “new playground” for energy storage?
For photovoltaic giants, shifting production capacity to the Middle East is an act of necessity. On June 7, 2024, the US International Trade Commission passed preliminary rulings on the anti-dumping and countervailing duty investigations of photovoltaic products from Cambodia, Malaysia, Thailand, and Vietnam. This signifies the end of the duty-free policy for some photovoltaic products imported from these four Southeast Asian countries, which began in June 2022, as of June 6 this year. Subsequently, Chinese photovoltaic manufacturers exporting to the US from Southeast Asia will face tariffs.
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FedEx Appoints Abdulrahman Al-Mubarak as Managing Director Operations of Saudi Arabia
Federal Express Corporation, the world’s largest express transportation company, has appointed Abdulrahman Al-Mubarak as its new Managing Director Operations of Saudi Arabia. Based in Riyadh, Abdulrahman holds a regional role in the Middle East and is responsible for the company’s strategic direction and operations for Saudi Arabia, Egypt, and Jordan.
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