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  • The Ritz-Carlton in Riyadh is Arguably the World’s Nicest Hotel
     

    If you look at pictures of the new Ritz Carlton, it might not look like it belongs in Riyadh, the capital of Saudi Arabia. Not because the arguably world’s nicest hotel isn’t worthy for the Kingdom, but because the style of the hotel makes it look like a king’s palace in old Europe, with a […]

     
  • Saudis allow women to compete
     

    Saudi Arabia is to allow its women athletes to compete in the Olympics for the first time. Officials say the country’s Olympic Committee will “oversee participation of women athletes who can qualify”. The decision will end recent speculation as to whether the entire Saudi team could have been disqualified on grounds of gender discrimination.

     
  • Saudi car sector to accelerate
     

    Strong fundamentals coupled with a rapidly growing young population made Saudi Arabia the largest importer of vehicles and automotive parts in the Middle East in 2011, with the pace seen accelerating in the medium term, the National Commercial Bank said in its report on the Kingdom’s automotive sector released Wednesday. It noted that rising income […]

     
  • The Importance of Economic Diversification for Saudi Arabia
     

    In a clear break from past trends, Saudi Arabia’s private sector is growing. This trend can be in part explained by the increase in bank lending to private sector. In year-on-year terms, lending growth was at its highest since March 2009. More specifically, bank lending to private sector rose by 1.1 percent in April to […]

     
  • Saudi Arabia mourns death of Crown Prince Naif
     

    The funeral prayers for the Saudi Crown Prince Naif bin Abdul Aziz will be held at the Haram Mosque in Makkah following the Maghreb prayer today. The body will then be buried at the graveyard in the holy city. Muslim leaders from across the world started arriving in Jeddah on their way to Makkah to […]

     
  • Saudi Arabia remains largest takaful market
     

    The global takaful industry has witnessed tremendous growth in the last decade, rapidly becoming an integral part of the mainstream financial system, with Saudi Arabia at the forefront, Ernst & Young executive said Wednesday at the opening of “The World takaful Conference: Asia Leaders Summit (WTC: ALS 2012)” at Hotel Istana, Kuala Lumpur. South East […]

     
  • Jadwa Chartbook June 2012: Sectoral Performance
     

    Riyadh-based Jadwa Investments recently released its June, 2012 Saudi ‘Chartbook’ which includes updates on the Saudi economy, trade, oil metrics as well as assessments of various sectors including banking, trade, and sectoral performance. Below is a snapshot of Jadwa’s analysis of the performance of Saudi Arabia’s main economic sectors. For the full Jadwa report, click […]

     
  • In Major Shift, Saudi Aramco Dabbles in Oil Trading
     

    Saudi Arabia has long been a dominant force in global oil markets, “but has never been an oil trader.” That changed on January 1st, 2012, when Saudi Aramco began operations at Aramco Trading, a wholly owned company subsidiary. The new Aramco Trading marks an expansion in Aramco’s downstream investment portfolio in the Kingdom and overseas, […]

     
  • Changing patterns in U.S. crude imports
     

    U.S. crude oil import patterns have been undergoing significant shifts in recent months. While growing domestic tight oil production from the Bakken formation in North Dakota and elsewhere has helped displace imports from some countries, U.S. import volumes from the Canadian oil sands and Saudi Arabia have been on the rise. In total, U.S. crude […]

     
  • At the SACM Career Fair in Washington, Saudi Arabia’s Brightest Are Met With Opportunities (PHOTOS)
     

    Across the United States, around the end of the month of May every year, graduating students from high schools and universities join with families and friends to celebrate their achievements in

     

MUST-READS

  • Saudi Arabia pushes ahead with economic transformation, minister says

     Saudi Arabia is "doubling down" on its multi-billion dollar plan to overhaul its economy and cut the kingdom's dependence on oil rents, the finance minister told an investor summit in Riyadh on Wednesday. The government is investing heavily in infrastructure works such as the vast mega-city NEOM project under the plan driven by Crown Prince Mohammed bin Salman, who wants to grow the private sector, develop new industries and create thousands of jobs.

  • Inside Saudi Arabia’s Big Cinema Swing ‘Desert Warrior,’ The Delayed $150M Historical Epic Still Being Readied For Battle

    Sources say a final cut is yet to be locked by Wyatt, who exited and then returned to the project amid creative fissures. A screen test revealed Desert Warrior’s disconnect with audiences and a handful of major U.S. studios were unconvinced about an earlier version of the movie. Deeper questions have been asked about Western creatives being entrusted with a historical story about the Middle East, while buyers raised concerns about the movie’s optics after the October 7 attack on Israel.

  • Lebanon, Israel could agree to ceasefire within days, Lebanese prime minister says

    Lebanon's prime minister expressed hope on Wednesday that a ceasefire deal with Israel would be announced within days as Israel's public broadcaster published what it said was a draft agreement providing for an initial 60-day truce. The document, which broadcaster Kan said was a leaked proposal written by Washington, said Israel would withdraw its forces from Lebanon within the first week of the 60-day ceasefire. It largely aligned with details reported earlier by Reuters based on two sources familiar with the matter.

  • Saudi Arabia in advanced talks over Zambia copper mine stake, Ma’aden CEO says

    Saudi Arabia is in the advanced stages of talks about a stake in a copper mine in Zambia and is expecting a deal by the end of the year, the CEO of Saudi Arabia’s flagship mining company Ma’aden told Reuters on Wednesday. “We are looking at Zambia, we are talking with a company there, with a mine there, so those are pretty advanced stage discussions,” CEO Robert Wilt, who is also vice chairman of Saudi Arabia’s international mining venture Manara Minerals, said.

  • AI Leaders Gather in Saudi Arabia to Talk Energy

    The Ritz-Carlton convention center played host to some bold predictions about the future. Softbank Group Corp.’s Masayoshi Son laid out a vision of superintelligence 10,000 times that of humans by 2035. Elon Musk, in a virtual appearance, said robots would far outnumber humans by 2040. And the Saudis touted plans to make their country an AI superpower, with smart cities and personalized health care.

  • NEOM announces the opening of Sindalah

    Sindalah’s surrounding waters are home to an impressive marine ecosystem that features over 300 coral species and 1,100 species of fish. Preservation of this unique habitat has been central to Sindalah’s development, so that guests will be able to explore these ecologically-rich waters for themselves for generations to come.

  • Israeli strike kills dozens in north Gaza residential block, US calls incident ‘horrifying’

    At least 93 Palestinians were killed or missing and dozens wounded in an Israeli strike on a residential building in the northern Gaza town of Beit Lahiya on Tuesday, the Gaza health ministry said, and the U.S. called the incident "horrifying". Medics said at least 20 children were among the dead. "A number of victims are still under the rubble and on the roads, and ambulance and civil defence crews cannot reach them," the territory's health ministry said in a statement.

  • Saudi Arabia Upbeat on FDI as 2030 Goal Remains Distant

    Saudi Arabia’s FDI inflows amounted to about $26 billion last year, above the government’s self-set target but still the lowest level since 2020. The data was recently revised higher, from $19 billion, to reflect what Al-Falih said was a methodology in line with International Monetary Fund standards. The kingdom aims to quadruple FDI inflows by 2030 in a bid to share some of the financial burden of spending on its economic diversification plan. Crown Prince Mohammed Bin Salman’s government also sees foreign expertise as critical to training the local population in new industries like technology and minerals exploration and catalyzing growth in those sectors.

  • At a Glitzy Saudi Investment Forum, Almost No Mention of War

    “Notwithstanding the regional war ensuing, the Gulf political elites, in particular in Saudi Arabia, need to project that they are open for business,” said Aziz Alghashian, director of research at the Observer Research Foundation Middle East, a think tank. “Restructuring the economy is not a matter of preference or desire, but the Saudis are considering the restructuring of the economy as an existential matter,” he added. “They need to make sure regional turmoil does not hinder these economic ambitions.”

  • Abu Dhabi Heavy Hitters Skip FII, Showing Riyadh Competition

    Key figures from Abu Dhabi, like Mubadala Investment Co. Chief Executive Officer Khaldoon Al Mubarak, have previously attended the event. But not many prominent names from the emirate have made the short trip over to Riyadh this year for the eighth edition of the summit. To solidify its advantage, the emirate started a conference of its own, Abu Dhabi Finance Week. That’s drawn prominent names, including billionaire Alan Howard who last year said the emirate could become a global financial center, and Bridgewater Associates Founder Ray Dalio, who has become the face of Abu Dhabi’s success in drawing hedge fund luminaries.