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  • Royal Decrees Shake Up Saudi Aramco, Energy and Industry Sectors
     

    A series of Royal Decrees issued by King Salman of Saudi Arabia on Friday included major shake ups to Saudi Aramco as well as government ministries and top leadership. King Salman issued a royal decree to set up a new Ministry of Industry and Mineral Resources, separating it from the Ministry of Energy. The Kingdom named Bandar Alkhorayef […]

     
  • Saudi Students See Greater Freedom in Travel with New Rules
     

    New rules put in place by Saudi government authorities have granted the right of all Saudi students studying oversees to travel without requiring a permit from their parents or guardians, even if they are under the age of 21, according to reports. Saudi Arabia’s General Directorate of Passports announced Monday that students “will only require proof of […]

     
  • Will Formula One Racing Come to Saudi Arabia?
     

    Saudi Arabia and Formula One are discussing the possibility of holding a race in the country, “and team bosses have been asked for an opinion,” sources told Reuters on Tuesday. “The Times newspaper reported that Formula One and the 10 teams would seek reassurance on issues including human rights, gender equality and media freedom before any […]

     
  • Saudia’s Flyadeal Cancels $6b Boeing Deal, Opts for Airbus’ A320neo
     

    Saudi airline Flyadeal has canceled an order for up to $6 billion worth of Boeing 737 Max planes, instead opting to purchase from Boeing’s top European competitor, Airbus SE, according to reports. Flyadeal had committed to purchasing up to 50 planes from Boeing, but after the global grounding of the company’s 737 Max 8 planes […]

     
  • Saudi Arabia Raises €3b in first bond denominated in European currency
     

    Saudi Arabia has raised 3 billion euros from over 14.5 billion worth of orders for its first bond denominated in European currency, according to reports. With this deal, the Saudis have sold over $60 billion in international bonds since their debut as a global borrower in late 2016, making the kingdom one of the biggest […]

     
  • Saudi-led Coalition in Yemen Announces Capture of Islamic State Leader in Yemen
     

    Saudi special forces, with assistance from the United States, have captured the leader of the Yemeni branch of the Islamic State militant group, according to the Saudi-led military coalition fighting in Yemen and reported in Reuters. The leader, Abu Osama al-Muhajer, as well as other members of the organization including its chief financial officer, were […]

     
  • U.S. Special Representative for Iran, Saudi Arabian Deputy Defense Minister Prince Khalid bin Salman Meet in Jeddah
     

    U.S. Special Representative for Iran Brian Hook met with Saudi Arabian Deputy Defence Minister Prince Khalid bin Salman in Jeddah on Friday, the minister said in a tweet. Hook and Prince Khalid discussed recent attacks in the region. “Pleased to meet with United States Special Representative for Iran Mr. Brian Hook to explore the latest efforts to […]

     
  • Saudi Arabia’s Saudia Airlines Spends Big at Paris Airshow
     

    Saudi Arabian flag-carrier Saudia announced at the Paris Airshow that it is expanding its existing order of Airbus A320neo family of plans from the current number of 35 “to as many as 100, including 35 options,” according to reports. The airline disclosed three years ago that it was taking 35 A320neo-family jets, including A321neos. The “neo” at the […]

     
  • U.S. Senators Preparing Legislation Seeking to Block Trump’s Plan to Sell $8b in Weapons to Saudi Arabia, UAE and Jordan
     

    Members from both parties in Congress are preparing legislation seeking to block President Trump’s plan for $8.1 billion in weapons sales to Saudi Arabia, the UAE and Jordan, according to reports. Last month, The Trump administration declared an emergency to bypass Congress and expedite billions of dollars in arms sales to several countries, citing the need to deter what it […]

     
  • Leaders Arrive in Saudi Arabia for Two Summits as Tensions Run High Over Iran
     

    Saudi Arabia began hosting Arab leaders for two emergency summits starting today after attacks this month on oil assets has heightened tensions with Iran, according to reports. Riyadh hopes the meetings will deliver a strong message to Iran that regional powers will defend their interests against any threat after this months attacks, Reuters reports. Saudi Arabia’s Minister of […]

     

MUST-READS

  • Saudi Aramco maintains $31 billion dividend despite lower Q1 net income

    Saudi Arabia's state oil giant Aramco (2222.SE), opens new tab expects to pay $31 billion in dividends to the Saudi government and its shareholders despite reporting lower earnings for the first quarter on Tuesday, hit by lower oil prices and volumes sold. The Saudi government, which directly holds about 82.2% of Aramco, relies heavily on the company's payouts, which also include royalties and taxes. The kingdom, the world's biggest oil exporter, is spending billions of dollars to diversify its economy away from crude.

  • Exclusive: Shell in talks to sell Malaysia fuel stations to Saudi Aramco, sources say

    Energy giant Shell is in talks with Saudi Arabia's state-owned Saudi Aramco to sell its gas station business in Malaysia, the second-largest such network in the country, four industry sources aware of the discussions said, and a deal could be worth up to $1 billion. Shell said Malaysia is important to the company. "We remain committed to the mobility business in the country," it said in an updated statement on Tuesday, without elaborating.

  • Opinion: A U.S. Deal Could Make Saudi Arabia the Next Egypt

    Will they, or won’t they? That is the question that the Middle East-watching world has been asking for the past few weeks. Will the United States and Saudi Arabia announce the big defense pact-plus deal that officials in both countries have been working on since at least mid-2023?

  • Saudi Arabia’s Donia Abu Taleb set to make historic step for women at Paris Olympics 

    Donia Abu Taleb took an historic step for Saudi women when she earned direct qualification for the taekwondo competition at the Paris Olympics and is determined to take another huge stride in France later this year. The 27-year-old punched her ticket to the Games at the Asian qualifiers in March and her achievement was celebrated by Prince Abdulaziz bin Turki Al Faisal, the minister of sport and head of the Saudi Olympic Committee.

  • Kingdom of Saudi Arabia and United Kingdom Conclude High-Level Strategic Dialogue on International Development and Humanitarian Assistance

    The Kingdom of Saudi Arabia, represented by the King Salman Humanitarian Aid and Relief Centre (KSrelief) and the United Kingdom successfully concluded their Strategic Dialogue on International Development and Humanitarian Assistance with a high-level plenary session on 7 May 2024.

  • Saudi Arabia sees Pakistan as high priority opportunity, believes in its economic potential: Almubarak

    Almubarak made the remarks at the two-day Pakistan Saudi Arabia Investment Conference, which began in Islamabad today, after arriving in the capital the previous night with a key Saudi delegation comprising dozens of investors as Pakistan aims to court foreign investors to boost its exports in collaboration with Saudi companies. The Saudi official said his country “believes in the economic potential of Pakistan” including its demography, location and natural resources.

  • Saudi Arabia’s non-oil revenues rise 9 percent to $29.73 billion in Q1 2024: MoF

    Saudi Arabia’s non-oil revenues saw a 9 percent increase to SAR111.512 billion ($29.73 billion) in the first quarter of 2024, compared to Q1 of 2023, the Ministry of Finance reported in its latest Quarterly Budget Performance Report. During Q1, Saudi Arabia’s total revenues saw a 4 percent annual increase to SAR293.433 billion. Meanwhile, the Kingdom’s expenditures increased by 8 percent annually to SAR305.82 billion. Therefore, Saudi Arabia posted a budget deficit of SAR12.39 billion during the first quarter of 2024.

  • Saudi real GDP likely to grow 2.2% in 2024: S&P Global

    S&P Global Ratings expects the real GDP of Saudi Arabia to grow by 2.2% in 2024, before rising further by 5% in 2025.   In its latest report, the rating agency said that the surge in the non-oil sector will contribute an increasing share of this growth. This was attributed to government-led investments in Vision 2030 projects.   Part of the investments in the Saudi-led transformation programs will come from the government and the Public Investment Fund (PIF), S&P Global said. However, it also projects banks and capital markets to contribute a significant amount.

  • Saudi Arabia and Japan to collaborate on digital economy growth, technology innovation

    Saudi Arabia’s Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Swaha recently held a meeting in Jeddah with Taro Kono, Japanese minister for Digital Transformation, along with his accompanying delegation. During the meeting, Al-Swaha and Minister Kono discussed the potential for expanding investment opportunities in the digital field between their respective countries. The aim of this collaboration is to support the growth of the digital economy and foster innovation.

  • Saudi budget deficit rises fourfold in Q1 2024

    Saudi Arabia recorded a budget deficit in the first quarter of 2024 of SAR12.4 billion ($3.3 billion), four times higher than a year ago – confirming a revenue squeeze that has raised doubts about the funding of some of the kingdom’s giga-projects. The Q1 deficit in 2023 was SAR2.92 billion, the finance ministry’s quarterly budget review said, and the projected deficit for the whole of 2024 is SAR79 billion. Total Q1 revenue of SAR293.4 billion was 4 percent higher than last year’s SAR280.9 billion, but expenditure was up 8 percent at SAR305.8 billion.