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Saudi Aramco Soars 10% in Debut in ‘Vindication’ for Company
Saudi Aramco’s shares rose SAR 3.20, or 10% (the daily limit) to 35.2 riyals in Riyadh, raising the company’s valuation to $1.88T. The debut, by any measure, is a success, and officially makes Saudi Aramco the world’s most valuable company.
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Saudi FM Prince Faisal bin Farhan Meets with Secretary of State Mike Pompeo
Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan has met with US Secretary of State Mike Pompeo in Washington on Thursday ahead of an international meeting of countries committed to defeating ISIS, according to reports and social media. “During the meeting, they discussed the Saudi-US long-established strategic partnership, especially the partnership in the fight against […]
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Saudi-based STV Leads $23 Million Funding Round in Trukker
Saudi-based Saudi Technology Ventures (STV) said in a blog post that it is leading a $23 million investment round in Trukker, a truck-focused digital freight marketplace and aggregator based in the UAE. “Today, truck drivers must communicate with brokers via phone calls in order to negotiate pricing of each transaction and discuss capacity and routes,” […]
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State Department Lauds ‘Strong counterterrorism relationship’ between Saudi Arabia and the United States
The U.S. State Department’s recently-released country reports on terrorism praised the U.S.-Saudi “strong counterterrorism relationship” and said “through a range of counterterrorism initiatives, many in partnership with the U.S. government, Saudi Arabia took tangible steps to strengthen its counterterrorism capabilities in border security, counter terrorist financing, and [countering violent extremism].” “Based on local reporting, Saudi Arabia […]
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Venture Capital Set for Ten-fold Growth Over the Next Six Years in Saudi Arabia
Venture capital investments in Saudi Arabia are set to grow ten-fold over the next six years, according to a new report by Saudi Technology Ventures published by The National. The report says that Venture funding investments are at a “positive inflection point” and are set to grow to $500 million annually by 2025, from $50m last […]
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To the Delight of Fans, Saudis Play Soccer Match in West Bank for First Time in Decades
Saudi Arabia’s soccer team will play against the national team in Palestine in the West Bank for the first time in over a decade, delighting fans from both sides. The match, planned for Tuesday, has “electrified Palestinians” not just because it’s a World Cup qualifying match, but because it’s a home game actually played at […]
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Officials Announce ‘Riyadh Season’, a Three-Month Series of Events
Saudi officials have launched ‘Riyadh Season’, a new, three month series of events that will take place from October 15 to December 15 all around Riyadh. The countdown was launched by the chairman of the General Entertainment Authority, Turki Al Sheikh, on his twitter account in a video. The theme of the first season is ‘Imagine.’ Officials have […]
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Saudi Arabia has Selected Haifaa Al Mansour’s ‘The Perfect Candidate’ as its Official Entry for the 2020 Oscars
Saudi Arabia has selected Haifaa Al Mansour’s The Perfect Candidate as its official entry for the 2020 Oscars in the best international feature category, according to reports. Haifaa Al Mansour’s “The Perfect Candidate” is about a Saudi doctor who challenges the patriarchal system in her country by running in municipal elections. Al Mansour is one of the Kingdom’s best-known […]
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Saudis Pay Tribute to Famous Bodyguard to Kings Killed in Dispute with Friend in Jeddah
Saudi citizens took to social media to pay tribute to Maj. Gen. Abdulaziz Al-Fagham, the bodyguard to both the late King Abdullah and King Salman who was killed in argument with a friend in Jeddah, Saudi state media said. Al-Fagham, a tall and fit man who had a familiar face for many Saudis because he was […]
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First shares in Aramco will be sold on Saudi stock exchange – reports
Saudi Aramco will list the first shares of the company on Saudi Arabia’s stock exchange, the Tadawul, and will do so “very soon,” the company’s CEO Amin Nasser said. The local listing is likely to precede an international one, but the company has not yet selected a location, according to reports. “The primary listing is to list […]
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MUST-READS
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flynas Launches Saudi Arabia’s First Program to Train Airline Cabin Crew in Sign Language
The Saudi air carrier flynas has launched the first program of its kind in Saudi Arabia to train airline cabin crew in sign language. Implemented in collaboration with the Saudi Association for Hearing Impairment, this program underscores flynas' commitment to adopting sustainable initiatives that positively impact society.
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Why Saudi Arabia matters more than ever to the US in a volatile Middle East
That the stability of the Arabian Peninsula is taken completely for granted by many observers in the West represents a failure of the imagination, as Saudi Arabia, with its wealth and holy places, is a country that jihadi Islamists such as Al Qaeda, and revolutionary Iran and its proxies, have sought to capture for decades. Indeed, the Kingdom of Saudi Arabia is the ultimate prize for those who want to topple the U.S.-led order in the region. Failure to recognize this or to imagine what would happen should radical revisionist elements succeed in disrupting Saudi stability is short-sighted and strategically dangerous.
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Who does Saudi Arabia play in 2026 FIFA World Cup qualifiers?
Saudi Arabia learned its 2026 FIFA World Cup qualifying fate on Thursday as the Green Falcons were handed a tough third round group that includes fellow Asian heavyweights Australia and Japan. Roberto Mancini’ side, which labored to a second place finish behind Jordan in second-round qualifying, will need to improve if it is to claim a spot at the World Cup finals in the USA, Canada and Mexico in two years’ time.
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Saudi Reserves Jump to 18-Month High Thanks to Aramco Dividends
Net foreign assets held by the kingdom’s central bank jumped 5% to $445 billion, or 1.67 trillion riyals, at the end of May, the highest since November 2022, according to figures released Sunday. That coincided with Aramco paying out more than $25 billion in dividends to the government the same month, up from about $18 billion a year earlier.
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Banks drag Saudi down, Qatar hits 3-month high
The Saudi index closed lower on Sunday, with the financial sector leading the losses, while the Qatari index hit a three-month high having risen consistently through the month. Saudi Arabia's benchmark stock index (.TASI), opens new tab, which recorded its first monthly gain after three months of consecutive losses, dropped 0.4%. The losses in the index were driven by Saudi Arabia's two biggest lenders, with Al Rajhi Banking And Investment Corporation (1120.SE), opens new tab declining 1.8% and Saudi National Bank (1180.SE), opens new tab dipping 1.2%.
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Saudi Arabia ranks 3rd in remittance outflows globally in 2023: World Bank report
Saudi Arabia ranked third globally and second in the Arab world in terms of countries sending international remittances during the year 2023. Total outward remittances amounted to nearly SR 144 billion ($38.4 billion) during the last year. Foreign remittance is the money that immigrants send directly to their families or communities in their country of origin in the world. According to a recent report by the World Bank titled “Migration and Development Brief,” the United States of America topped among the world countries sending international remittances, with total external remittance flows reaching about $85.8 billion during the year 2023. The United Arab Emirates came in second place globally and first in the Arab world, with total remittances amounting to about $38.5 billion, while Kuwait ranked tenth globally and third in the Arab world.
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Saudi Arabia Launches Geographical Survey Project with 1,200 Solar and Wind Stations
In a landmark initiative spearheaded by His Royal Highness, Prince AbdulAziz bin Salman bin AbdulAziz Al Saud, Saudi Arabia has launched a pioneering Geographic Survey Project for Renewable Energy sites. This ambitious endeavor, part of the National Renewable Energy Program, involves the installation of 1,200 stations across the Kingdom to assess solar and wind energy potential over 850,000 square kilometers. The scale of this project is unprecedented globally, covering regions equivalent to the combined areas of major European nations like the UK and France or Germany and Spain.
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Saudi Arabia condemns Israeli approval of West Bank settlement expansion
Saudi Arabia’s Foreign Ministry on Saturday condemned the Israeli security cabinet’s approval to expand settlement operations in the West Bank. In a statement carried by the state news agency SPA, the ministry affirmed the Kingdom’s rejection of what it described as the “ongoing Israeli violations of international law and international legitimacy resolutions,” and warned of the “dire consequences” of Israel’s actions.
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Governor of Asir Region Announces Launch of Saudi Summer 2024 Program
The Governor of Asir Region and Chairman of its Development Authority, Prince Turki bin Talal bin Abdulaziz, announced the launch of this year's Asir summer season activities as a part of the Saudi Summer 2024 program. The program will start in early July under the supervision of the Asir Region Development Authority and with the support of the Ministry of Tourism, the Saudi Tourism Authority, and the General Entertainment Authority, SPA reported.
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How Saudi Arabia is creating a buzz around beekeeping and the honey making industry
Honey has long held a special place in Saudi culture, cultivated by beekeepers across the region for its medicinal and culinary uses. Now, with added government support, its true economic potential and environmental benefits are being realized. Last year, more than 100 licenses were granted to beekeepers to produce this liquid gold on land administered by the Imam Abdulaziz bin Mohammed Royal Reserve Development Authority, predominantly in the Rawdat Khuraim oasis.
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