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  • Tough Start for Saudi Arabia Football at World Cup; Uruguay Next
     

    Host country Russia defeated Saudi Arabia 5-0 in a tough start for the Kingdom’s first World Cup bid in 12 years. Saudi Arabia’s Crown Prince Mohammed bin Salman watched the match alongside of Russia’s President Vladimir Putin, and video images of the two leaders reacting to the match have gone viral on social media sites. […]

     
  • Saudi Arabia Set to Launch $32 Billion Plan to Jumpstart Housing Market
     

    Saudi Arabia’s Public Investment Fund-backed mortgage company, the Saudi Real Estate Refinance Company (SRC), plans to roll out new funding soon to the Kingdom’s lenders to boost home ownership in Saudi Arabia, according to a report. Announced in October 2017, the creation of the SRC and the overall plan for $32 billion to boost home ownership […]

     
  • Jadwa Investment Chartbook: SAMA Reserves Rise and Other Positive Signs for Saudi Economy
     

    The latest monthly edition of the Saudi Chartbook published by Jadwa Investment finds positive indicators for the Saudi economy as growth picks up in the Kingdom. According to Jadwa, non-oil exports in March increased by 1.8 percent year-on-year, the Kingdom’s FX reserves soared to the largest monthly increase since October 2013, and while inflation ticked […]

     
  • Saudi Arabia’s Central Bank Sees Reserves Soar on High Oil Prices
     

    Saudi Arabia’s central bank foreign reserves rose last month at their fastest rate for four years, Reuters reports on official data revealed on Monday. The $13.3 billion month-on-month increase in reserves to $498.9 billion in April is the highest level reached in over year and reveals “the extent to which a rebound in oil prices is […]

     
  • Oil Hits $80 for First Time in Three Years, Saudis Consulting Other Producers on Supply
     

    The price of oil reached $80 on the Brent Crude Index this week for the first time in three years, prompting Saudi Arabia’s powerful Minister of Energy Khalid Al-Falih to tweet a message urging coordinated action to allay supply “anxiety,” according to reports. Al-Falih said in a Twitter post that he had called his counterparts […]

     
  • Ramadan Begins Today in Saudi Arabia
     

    Ramadan officially begins in Saudi Arabia Thursday, as millions of Muslims in the Kingdom and around the world prepare for a month of fasting, which is intended to bring Muslims closer to Allah and remind them of those less fortunate. The Islamic calendar is 11 days shorter than the Gregorian calendar, so each year, the […]

     
  • Poll: Strong Support for Crown Prince Mohammed bin Salman among Young Arabs
     

    A new poll tracking young Arabs’ attitudes throughout the Middle East finds they express a high level of confidence in Crown Prince Mohammed bin Salman and his leadership, with 63 percent supporting his appointment, 64 percent viewing him as a strong leader, and 59 percent saying Mohammed bin Salman will lead Saudi Arabia in the […]

     
  • 4 Dead, 4 Wounded in Gun Attack on Checkpoint in Asir, Saudi Arabia
     

    Four Saudi officers were shot dead and four others wounded Thursday when their checkpoint came under gunfire in southern Asir province, according to reports citing information from the Saudi Press Agency and Saudi Arabia’s interior ministry. According to reports, three officers were “instantly killed” when the outpost came under attack, the Saudi Press Agency reported, without specifying who […]

     
  • New Era of Cinema Begins Tomorrow with Soft Opening of First Theatre
     

    Saudi Arabia is set to have a soft opening for a new movie theatre tomorrow in what is the beginning of a new era of cinema in the Kingdom, some three decades after the last theatre was shuttered. A private film screening tomorrow, a collaboration between the Saudi Development and Investment Entertainment Company (DEIC), which is […]

     
  • U.S. State Department Approves $1.31 Billion in Artillery Sales to Saudi Arabia
     

    The State Department approved a sale of $1.31 billion in artillery to Saudi Arabia, giving “a vote of confidence to the Saudi military as young Crown Prince Mohammed bin Salman concludes a marathon tour of the United States,” the Washington Post reports. The possible sale is for “155mm M109A5/A6 Medium Self-Propelled Howitzer structures for conversion to M109A6 […]

     

MUST-READS

  • In fuel-guzzling Saudi Arabia, electric cars pique interest

    Although the EV market in the world's largest oil exporter remains small compared with the United States and China, it tripled last year to nearly 800 cars, according to Saudi business news outlet Al-Iqtisadiyah. "What drove me to buy an electric vehicle was financial considerations," said Rafidain, who spends up to 2,000 riyals ($530) a month on fuel for his off-road vehicle. "Maintenance costs are also lower compared to a conventional vehicle, with no oil changes and no brake-pad replacements," he added, pointing to the engine-free storage space under the hood of his new car.

  • Foreign Ownership of Real Estate in Saudi Arabia

    The issue of foreigners owning real estate in Saudi Arabia is a significant topic of interest for many non-Saudis,especially with the substantial development in the real estate investment sector and Saudi Arabia’s diligent efforts to achieve its ambitious goals within Vision 2030.

  • How Energy Intensive Are Data Centers?

    While the median estimate for data centers, AI-connected offerings and cryptocurrency mining stood at 415 TWh in 2022, already significantly higher than the United Kingdom's electricity demand and on par with the electricity consumption of France, this figure could rise to anything between 620 and 1,050 TWh in 2026. Per the IEA's report, this would be the equivalent "to adding at least one Sweden or at most one Germany" to the most recent estimates. Calculating the median estimated energy use, data centers and associated industries would rival the electricity demand of Japan, which as of 2022 had the fifth-highest in the world after China (8,540 TWh), the United States (4,128 TWh), India (1,463 TWh) and Russia (1,026 TWh).

  • Kemitt expands into Saudi Arabia bolstered by new funding round

    Kemitt, Egypt's leading e-commerce marketplace for furniture and home accessories, proudly announces its expansion into the Saudi Arabian market. This strategic move is bolstered by a recent undisclosed funding round, underscoring the growing investor confidence in Kemitt’s innovative business model and robust growth trajectory.

  • Saudi Arabia’s growth this year marred by lower for longer oil output

    Saudi Arabia's economic growth will likely be one of the slowest among the Gulf Cooperation Council (GCC) countries this year, according to a Reuters poll of economists who lowered growth forecasts from three months ago due to extended oil output cuts. The Organization of the Petroleum Exporting Countries and allies led by Russia, known as OPEC+, were expected to start raising production this year but in June said the reductions would continue well into 2025.

  • Saudi government agencies boost emerging tech adoption by 10% in 2024

    Saudi Arabia’s government and businesses are advancing technology adoption and investing in programs to digitally upskill the population. A new report by the Digital Government Authority revealed that the performance index of Saudi government agencies in Emerging Technologies Adoption has improved significantly by 10% compared to last year, rising from 60.3% in 2023 to 70.7% in 2024.

  • New Saudi AI model to advance radiology diagnosis

    King Abdullah University of Science and Technology (KAUST) and Saudi Data and Artificial Intelligence Authority (SDAIA) have released MiniGPT-Med, a new vision-interfaced large language model, designed to provide faster and more efficient radiology diagnosis. The new model was built using Meta’s Llama 2 for the language component and the university’s MiniGPT-v2 as a vision-language alignment backbone.

  • GCC Population Surges by 4 Million in Two Years

    According to recent statistics released by the GCC Statistical Centre, the total population of the Gulf Cooperation Council (GCC) countries witnessed a significant increase of 7.3% in 2023 compared to 2021, reaching 57.6 million.

  • ‘A Rubik’s Cube in the Sky’: Israel Struggles to Defend Against Drones

    On Friday, Israel’s vaunted aerial-defense system tracked 65 rockets fired across its northern border by the Lebanese militant group Hezbollah, intercepting some and letting the rest fall harmlessly into open areas.  That same day, Israel missed a single drone it believes flew more than 1,000 miles from Yemen to explode in the commercial capital Tel Aviv.

  • Gamers are competing for a record-breaking $60m prize pool at the Esports World Cup

    The Esports World Cup is underway in Riyadh, Saudi Arabia, with thousands of participants from all corners of the globe competing across 21 games like Call of Duty, League of Legends and Dota 2. CNN’s Eleni Giokos speaks to some of the athletes vying for glory and a life-changing $60 million prize pool.