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Photos Show Severe Floods Hitting Saudi Arabia’s Asir Region
At least one person was killed and hundreds rescued on Wednesday after severe flooding in Saudi Arabia’s Asir region. Videos and photos emerging online of the floods show fast-moving currents sweeping away cars and motorists stranded in water. Saudi Arabia’s Civil Defense said that 10 others were injured and over 280 people were rescued while dealing with […]
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In-Depth Tourism Report by Colliers Highlights Huge Saudi Potential
In a PDF available here entitled Destination Saudi – Leisure, Culture, and Tourism Potential, Colliers examines the potential for significant opportunities in the tourism sector for Saudi Arabia and whether Vision 2030, as an identifier of the potential for entertainment and cultural development, can be the vehicle for that growth. “There is a positive outlook for tourism […]
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Russia Takes Title of Top Oil Supplier to China for the First Time Ever in 2016; Unseats Saudi Arabia
Russia overtook Saudi Arabia as China’s top oil supplier last year for the first time ever amid the ongoing battle for market share in the world’s biggest energy market, Bloomberg reports. The recent takeover as top supplier to China comes as analysts parse comments made by Saudi Arabia’s Minister of Energy and Natural Resources Khalid al-Falih […]
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For Saudi Arabia’s 2017 Budget, Jadwa Investment Sees ‘Expansionary Fiscal Stance’
Saudi Arabia unveiled its 2017 budget last week with a budgeted SR890b ($237.2b) in spending, which is a SR50b ($13.3b) increase over the 2016 budget of SR840b ($223.8b). In a note sent to investors, Riyadh-based Jadwa Investment released a report outlining Saudi Arabia’s efforts to reduce its deficit despite the increase in spending. Based on revenues […]
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Saudi Arabia’s SIDF Gets New Investment Muscle to Enter New Industries
Saudi Arabia’s Energy Minister Khalid al-Falih said that Saudi Arabia plans to boost the capital of the Saudi Industrial Development Fund (SIDF) by SAR6bn ($1.6bn) to help finance the kingdom’s entry into new industries. The additional planned allocation would be on top of the SAR3bn ($800m) of capital recently injected in the fund, Falih said, […]
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‘Shamoon’ Comeback: Several Saudi Government Agencies Attacked by Malware from Iranian State-Sponsored Hack
State-sponsored hackers have reportedly conducted a series of destructive malware attacks on Saudi Arabia over the last two weeks, including erasing data and wreaking havoc in the computer banks of the agency running the country’s airports and hitting five additional targets, Bloomberg reports. U.S. security firms said that a version of Shamoon, the computer virus […]
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Saudi Prince Alwaleed bin Talal: ‘Stop the Debate…It’s Time for Women to Drive’ in Saudi Arabia
In a 4-page essay entitled, “It’s High Time Women Started Driving Their Cars,” billionaire Saudi businessman Prince Alwaleed bin Talal urged an end to the debate about women’s driving in Saudi Arabia. The essay is as much a short treatise on modern Saudi feminism and the progress of women’s rights in the Kingdom as it […]
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Saudi Arabia Begins to ‘Inject Large Amounts of Money Into Economy’ to Boost Growth
Saudi Arabia’s government has begun “injecting large amounts of money into the economy to boost growth at the end of this year after a sharp slowdown due to low oil prices,” Reuters reports citing Saudi Central Bank data. After raising $17.5 billion last month in its first international bond issue, Saudi Arabia “did not hold that […]
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Government Makes Payments to Construction Companies as MMG Sends Letter to Deputy Crown Prince Warning of Operations Halt
Saudi Arabia has reportedly made good on $10.7 billion that it owed to private sector companies, according to Arab News, but one construction firm said on Monday that it wrote directly to the Deputy Crown Prince warning it may need to cease operations. Mohammad Al Mojil Group (MMG) said in a short statement through Saudi […]
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Saudi Student Murdered in Wisconsin Shocks Community
A University of Wisconsin-Stout student from Saudi Arabia died one day after being assaulted on a street in downtown Menomonie, Wis., about 70 miles east of Minneapolis, according to reports. Hussain Saeed Al-Nahdi was reportedly assaulted by a suspect whom police described as a white male about six feet tall. He died a day later […]
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Saudi Film Festival 2024 unveils its celebration of cinema
The Saudi Film Festival has unveiled exciting details about its upcoming tenth edition, which will take place from 2 to 9 May. The event has been organised by the Cinema Association and King Abdulaziz Center for World Culture (Ithra) and looks set to be a showstopper. Saudi Film Festival 2024 takes place at Ithra Center in Dharan, Dammam. This year’s edition will showcase the best of Saudi and international cinema — with a special focus on Science Fiction Cinema.
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Judge dismisses lawsuit against Saudi Arabia over 2019 Navy station attack
A Florida judge has dismissed a lawsuit against Saudi Arabia over a 2019 mass shooting at the Pensacola Naval Air Station that killed three US service members and wounded several others.
U.S, District Judge M. Casey Rodgers ruled last month that Saudi Arabia is protected from the lawsuit under the Foreign Sovereign Immunities Act, which limits court actions against foreign governments. The plaintiffs, who are relatives of those killed and wounded, are planning an appeal.
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Saudi Arabia And EU Forge Energy Cooperation At World Economic Forum
During the World Economic Forum held in Riyadh, HRH the Minister of Energy of Saudi Arabia, Abdulaziz bin Salman Al Saud, engaged in bilateral discussions with European Commissioner for Energy, Kadri Simson. The focus of their meetings revolved around enhancing energy and clean technology cooperation to fortify bilateral relations and advance the objectives set forth by the Paris Agreement and the outcomes of the UAE Consensus reached at COP28 in Dubai the previous year.
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Uganda to get $295m loan from Saudi’s Islamic Development Bank
The money will finance construction of a bridge crossing the River Nile in northwest Uganda and roads totalling 105 kilometres, according to the ministry.
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Videos: Saudi Arabia hit by heavy rains, widespread flooding reported, more rains forecast in Medina
Heavy rains and thunderstorms have lashed Saudi Arabia over the past 24 hours, causing widespread flooding and significant damage.
Amidst the downpour, visitors at the Prophet’s Mosque in Medina were seen enjoying the rain and engaging in prayer, embracing this natural occurrence with a sense of reverence. -
Racing against time, US seen putting final touches on Saudi-Israeli normalisation deal
The United States is nearly ready with a security package to offer Saudi Arabia if it normalises relations with Israel, US Secretary of State Antony Blinken said Monday, as he worked on a strategic deal, including a Palestinian state, that could change the landscape in the Middle East. Blinken visited the kingdom on his seventh trip to the region since the October 7 Hamas attack on Israel, which has responded with a relentless offensive in Gaza that has drawn vehement criticism around the world.
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Blinken, Saudi crown prince discuss achieving peace, security in Gaza, US says
U.S. Secretary of State Antony Blinken met with Saudi Crown Prince Mohammed bin Salman on Monday in Riyadh, where they discussed the urgent need to reduce tensions in the region, the U.S. Department of State said in a statement.
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BlackRock signs agreement with PIF to accelerate growth of capital markets in Saudi Arabia by launching a Riyadh-based multi-asset investment management platform
BlackRock Saudi Arabia and PIF have expressed the intention to establish BlackRock Riyadh Investment Management (BRIM), which will encompass investment strategies across a range of asset classes, all of which are expected to be managed by a Riyadh-based portfolio management team and supported by BlackRock’s industry-leading global asset management platform.PIF is playing a leading role in advancing Saudi Arabia’s economic transformation and diversification, as well as driving global economies and shaping the future of industries. Locally since 2017, PIF has created 94 new companies and created over 644,000 direct and indirect jobs.
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Saudi banks’ aggregate profit down 7% to SAR 6.9B in March
Banks operating in Saudi Arabia reported a 6.7% decline in aggregate net profit before Zakat and tax to nearly SAR 6.93 billion in March, compared to SAR 7.4 billion a year earlier, monthly data issued by the Saudi Central Bank (SAMA) showed.
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US approves sale of blanket order training for Saudi Arabia’s Naval Forces: Pentagon
The US on Tuesday approved a blanket order of training for Saudi Arabia’s Naval Forces in a deal worth $250 million. The Pentagon says the training will enhance Riyadh’s ability to defend itself against regional malign actors and support US Navy efforts to enforce freedom of navigation.
The Pentagon said the Defense Security Cooperation Agency delivered the required certification, notifying Congress of this possible sale on Tuesday.
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