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Rumors Abound Regarding Location(s) of Saudi Aramco IPO Listing
Saudi Aramco’s advisers have recommended London for the historic listing of the oil company, sources familiar with the matter told Reuters in an exclusive report. The report said U.S. disclosure rules were a concern for Saudi authorities. London’s Financial Conduct Authority (FCA) has proposed a rule change that would allow state-owned companies, such as Saudi Aramco, to […]
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New Saudi City Aims for Nearly 1m New Housing Units Near Mecca and Jeddah
Details have emerged on plans for a “giant extension” to the holy city of Mecca in Saudi Arabia that could add up to one million housing units by 2050, according to reports. Prince Khalid Al-Faisal bin Abdulaziz is governor of the Mecca Region. In a press conference, the Prince told reporters that the Al-Faisaliah project […]
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Saudi Female Private Sector Employment Grew 10% in 2016, Ministry of Labor Says
The employment of Saudi women in the private sector increased 10 percent in 2016 over the previous year, according to the Saudi Ministry of Labor and Social Development as reported in the Saudi Gazette. The latest figures show a continuation of a dramatic increase in the last four years for female participation in the workplace. Based on figures provided […]
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King Salman Issues Royal Decrees on Security as U.S. Praises ‘Strong Counterterrorism Relationship’
Saudi Arabia’s King Salman issued a number of royal decrees on Thursday regarding the Kingdom’s security governance, creating a new security authority and separating forces from the Ministry of the Interior, according to reports. The executive order creates a security authority known as the “The Presidency for State Security” linked with the Prime Minister’s Office, the […]
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Saudi Arabia Nears First Utility-Scale Wind Power Project
Saudi Arabia moved a step closer toward the construction of its first utility-scale wind-power project, according to reports. The energy ministry “asked potential bidders and plant developers to submit their qualifications to build the 400-megawatt plant at Dumat Al Jandal in the kingdom’s northwestern Al Jouf region,” Bloomberg reports, citing an emailed statement. “Companies will be able to […]
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Mohammed bin Salman Named Crown Prince, Next-in-Line to King; Prince Mohammed bin Nayef Deposed
King Salman of Saudi Arabia has named his son, Prince Mohammed bin Salman, as crown prince of Saudi Arabia, deposing his cousin Prince Mohammed bin Naif. The move makes Prince Mohammed next-in-line to be king. As Reuters and other news outlets are reporting, the promotion of the new Crown Prince is less surprising than the […]
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Saudi Foreign Minister Adel Al-Jubeir Meets with Secretary of State Rex Tillerson in Washington, Says ‘No Blockade’ of Qatar
Secretary of State Rex Tillerson met with his Saudi counterpart, Foreign Minister Adel Al-Jubeir in Washington yesterday to discuss the ongoing diplomatic situation in the GCC and other regional challenges. In brief remarks to reporters before the meeting, Foreign Minister Al-Jubeir said that there was no “blockade” of Qatar and that Saudi Arabia was exercising […]
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Senate Opposition to Sale of Precision-guided Munitions Grows
Senate Minority Leader Charles Schumer (D-N.Y.) is the latest U.S. senator to throw support behind a Sen. Rand Paul (R-Ken)-led push to block part of President Trump’s $110 billion arms sale to Saudi Arabia, according to reports. The senators who proposed the resolution to block the arms sale said that they expect a close vote. Sen. Sens. […]
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Oxford Business Group Launches OBG Business Barometer: Saudi Arabia CEO Survey
The Oxford Business Group (OBG) has launched a new research series that examines attitudes of top CEOs in Saudi Arabia. OBG, which publishes investment and economic reports on more than 30 countries including emerging markets in the Middle East, Asia, Latin America. “It’s not difficult to conclude that for the Gulf region’s largest economy the […]
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New Saudi Arms Manufacturer ‘SAMI’ Launched As Part of Vision 2030 Ahead of Trump Visit
Saudi Arabia’s Public Investment Fund (PIF) announced on Wednesday the launch of a national state company for arms manufacturing as part of its Vision 2030 economic and social reform program, according to reports. The new company, the Saudi Arabian Military Industries (SAMI), will be producing not just arms but armored vehicles and will work to repair […]
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Princess Haifa launches initiative to enhance tourism education and training
Deputy Minister of Tourism Princess Haifa bint Mohammed has launched a comprehensive institutional accreditation initiative aimed to elevate the standard of education and training in the tourism sector. Focus will be placed on boosting the effectiveness of educational programs and aligning them more closely with the needs of the labor market in the Kingdom’s tourism sector, according to a press release from the Ministry of Tourism.
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Riyadh Season 2024: A guide to all the new and expanded areas this season
Saudi Arabia’s General Entertainment (GEA) revealed the details of the fifth edition of Riyadh Season 2024, set to begin on October 12. The new season will feature 14 entertainment zones, 11 global championships, and 10 exhibitions and festivals. It is set to take place over an area exceeding 7.2 million square meters, GEA Chairman Turki Al Al-Sheikh said in a statement carried by the Saudi Press Agency (SPA). A total of 4,200 contracts with 2,100 companies, 95 percent of which are local, the chairman noted.
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Saudi banks’ T-bond investments fall to SAR 561.3B in July
Saudi banks’ investments in treasury bonds declined by about SAR 1.9 billion month-on-month (MoM) to SAR 561.3 billion in July, data from the Saudi Central Bank (SAMA) showed.
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Israel kills a top militant in its deadliest West Bank raids since the Gaza war began
Israel says the raids across the northern West Bank — which have killed a total of 16 people, nearly all militants, since late Tuesday — are aimed at preventing attacks. The Palestinians see them as a widening of the war in Gaza and an effort to perpetuate Israel’s decades-long military rule over the territory.
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How to reach Saudi Arabia’s Gen Z, a generation on the ascent
The Saudi economy is increasingly powered by consumer spending. The country’s GDP per capita, at approximately $70,000, is already above that of many Western countries, such as Germany, Australia and the U.K. And retail sales in the country are projected to be on a steady upward trajectory for the next few years. Willing to spend and optimistic about their prospects, young Saudis are up to twice as likely to opt for higher-priced brands and retailers compared to their peers in advanced economies, according to a recent McKinsey report.
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Israel, Hamas set three-day pauses in fighting for Gaza polio shots, WHO says
Israel's military and Palestinian militant group Hamas have agreed to three separate, zoned three-day pauses in fighting in Gaza to allow for the first round of vaccination of 640,000 children against polio, a senior WHO official said on Thursday. The vaccination campaign is due to start on Sunday, with the pauses scheduled to take place between 6 a.m. and 3 p.m. (0300-1200 GMT), said Rik Peeperkorn, the World Health Organization's senior official for the Palestinian territories.
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Saudi Environment Ministry launches aquaponics investment opportunity in Jubail
The Saudi Ministry of Environment, Water and Agriculture has offered a new opportunity for investors to establish a fish farm using aquaponics technology through the Furas Platform, the Saudi Press Agency reported. Through the project, the ministry aims to produce fish and plants in a total area of 40,000 sq. meters in Jubail Governorate.
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Saudi Arabia draws the line: No political agendas at hajj
Saudi Arabia announced a ban on "misuse of the annual pilgrimage of Hajj for political or sectarian purposes," stressing that no one will be allowed entry to the country for "acts that disturb public security and law and order." According to draft regulations released by the Saudi Ministry of Hajj and Umrah, pilgrims are forbidden from bringing any prohibited items, such as pictures, books, flags, slogans, political publications, or other banned materials, into Saudi Arabia, according to the Saudi Gazette.
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Have Saudis Fallen Out of Love with Top American QSR Chains?
According to Mingora’s Food Panel 2024 data of top 30 KSA QSRs, Saudi brands outnumber American by 15 to 13. Outside of the top 30, local brands dominate the SAR 66.6bn (USD 17.7bn) Saudi fast-food market. Back in 2004, only 5 or 6 Saudi chains would show up in top 30. Large Saudi chains such as Maestro Pizza, Burgerizzr, Shawarmer and Sultan Delight Burger either didn’t even exit at that time or had barely a few stores.
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Saudi Announces Hajj 2025 Guidelines Including Updated Vaccine Requirements
As per recent advisories, only those in good health and physically fit will be allowed to go on the pilgrimage. People with serious medical issues, such as kidney, heart, lung, or liver diseases, cancer, dementia, or infectious diseases like tuberculosis, won’t be able to travel.
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