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  • Top Saudi Investment Officials in New York for Two-Day JPMorgan Chase Event
     

    Saudi Capital Market Authority Chairman Mohammed Al-Jadaan and Tadawul stock exchange Chief Executive Officer Khalid Al Hussan are among officials attending a two-day event in New York City this week organized by JPMorgan Chase & Co., Bloomberg reports. According to Bloomberg, senior representatives of the kingdom’s economy ministry and central bank will also be present. The […]

     
  • Opposition to JASTA ‘Bubbles’ but Override Still Likely after White House Veto on Friday
     

    President Obama vetoed the Justice Against Sponsors of Terrorism Act (JASTA) on Friday, setting up an expected showdown with Congress over the controversial bill that would open up foreign nations to lawsuits in the United States. In a thoughtful letter to Congress attached to the veto, President Obama says that while he has deep sympathy […]

     
  • White House Lobbies Senate on JASTA, Works Toward 34 Votes to Prevent Veto Override
     

    Some Senate Democrats on Capitol Hill continue to consider their votes on the Justice Against Sponsors of Terrorism Act (JASTA) and, according to some reports, are “starting to show cracks in their support” of the legislation after efforts by the Obama administration to convey the risk of the bill’s potential international relations fallout.  JASTA, which would expand […]

     
  • Al-Jubeir in Wall Street Journal: ‘Iran Can’t Whitewash Its Record of Terror’
     

    Saudi Foreign Minister Adel Al-Jubeir blasted his Iranian counterpart in a new op-ed published by the Wall Street Journal, saying that Iran cannot “whitewash its record of terror.” “The fact is that Iran is the leading state-sponsor of terrorism, with government officials directly responsible for numerous terrorist attacks since 1979. These include suicide bombings of the U.S. […]

     
  • Houthi Rebels Claim Capture of Post Inside Saudi Border
     

    Officials from Yemen’s Shiite Houthi militia say their fighters and allied troops have captured a Saudi military post in the border region of Jazan, according to reports.  According to a report in the Associated Press, the claim has been denied by a Saudi military spokesman. However, a 15-minute video clip posted on social media networks and aired late […]

     
  • 15 Year-Old Saudi Girl Proposes First ‘Hijab Emoji’
     

    Rayouf Alhumedhi, a Saudi-born teenager currently living in Germany is the lead author on a new proposal for a hijab emoji to the Unicode Consortium, the nonprofit that governs the creation and approval of emoji. Emojis are popular small images that are available on mobile and desktop keyboards that are increasingly adding to, and even replacing, […]

     
  • Security Tight as Millions Perform Hajj in Saudi Arabia; Eid al-Adha Begins Today
     

    Saudi Arabia has invested heavily in added safety and security measures as the Kingdom hosts this year’s estimated 1.85 million Hajj pilgrims.  Photos from the official Saudi Press Agency (SPA) show Saudi civil defense forces and medical personnel on standby ready to ensure a safe and peaceful Hajj. Temperatures throughout the week topped 100°F (28°C), making […]

     
  • Saudi, Russia Sign Oil Cooperation Agreement
     

    Saudi Arabia and Russia signed an agreement on Monday to cooperate in world oil markets – but the cooperation does not include an immediate cut in production that some other oil producing nations want. The agreement was struck between top Saudi and Russian officials currently at the G20 summit in the Chinese city of Hangzhou. Saudi Energy Minister […]

     
  • Deputy Crown Prince Mohammed bin Salman Arrives in China, Meets with Top Chinese Officials to Discuss ‘Vision 2030’
     

    Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman and a delegation including top ministers and other officials are in China this week for talks aimed at pushing the Kingdom’s Vision 2030 broad economic reforms. The visit to global economic powerhouse China, like the Deputy Crown Prince’s visit to the United States in June, hopes to “showcase […]

     
  • Coca-Cola Becomes Official Sponsor of Saudi Arabian Football Federation
     

    Coca-Cola has become the official sponsor of the Saudi Arabian Football Federation (SAFF).  SAFF is Saudi Arabia’s football governing body and it administers all Saudi club competitions as well as the development of the Saudi national team. The agreement with Coca-Cola includes full support of the Saudi national team as well as the three main […]

     

MUST-READS

  • Saudi Arabia’s economy seven years after Crown Prince Mohammed’s appointment

    Crown Prince Mohammed bin Salman has pushed forward with an expansive fiscal policy since his appointment on June 21, 2017, helping to turn the Saudi Arabian economy into one of the fastest growing in the G20. The Crown Prince, who served as the chairman of the Council for Economic and Development Affairs, has helped spearhead groundbreaking moves such as the listing of Aramco, the world’s biggest oil producing company, and the launch of the futuristic city of Neom. The kingdom’s Council of Ministers tasked Ceda with identifying and monitoring the mechanisms and measures that are crucial for the delivery of the country's Vision 2030.

  • Saudi Arabia’s and the UAE’s Quest for African Critical Minerals

    Minerals such as copper, cobalt, lithium, and graphite are critical for manufacturing electric vehicle batteries and in renewable energy infrastructure. Investing in these resources paves the way for Saudi Arabia and the UAE to not only generate substantial returns but also become key actors in the clean energy sector. Such investments, however, have geopolitical implications for China, a major established player in this sector.

  • Oil prices are up 10% in the last 2 weeks

    Oil markets are heating up again. Crude futures have risen about 10% since June 4 for both the U.S.-benchmark West Texas Intermediate and global benchmark Brent varieties. The latest rally comes after a volatile year that’s seen prices rise as much as 20% before giving back almost all those gains. WTI crude is up 13% for the year, Brent is up 10.4%.

  • US signals to Hezbollah it will back Israeli offensive, as frustration with Gaza ceasefire grows

    The US has indicated it is open to backing an Israeli offensive against Hezbollah in Lebanon, amid mounting frustration that the group continues to link a truce with Israel to an elusive broader ceasefire in Gaza. In his meetings in Beirut on Tuesday, US envoy Amos Hochstein delivered "blunt" warnings to Lebanese officials that Israel is preparing to launch a limited offensive on Hezbollah and will have the US's support if a diplomatic solution isn't found, a senior Arab official told Middle East Eye. Hochstein met with Lebanese Prime Minister Najib Mikati and Speaker of Parliament Nabih Berri on Tuesday, both of whom the US has used as intermediaries with Hezbollah, the Iran-backed group the US designates a terrorist organisation.

  • Phased development for world’s largest airport in Saudi Arabia

    The airport is expected to cover 57 square kilometres and handle 120 million passengers per year, which would make it the largest in the world in terms of passenger numbers. It will be built on a brownfield site over the existing King Khalid International Airport. UK-based Mace has won the role of delivery partner on the project, while it is being designed by architecture company Foster + Partners.

  • Made in Saudi Arabia; What’s in a Slogan?

    The kingdom has shown greater compatibility with long-term environmental and sustainability goals for the generations to come, one the one hand,and with the intricate dynamics of market investments and global financial ecosystem, on the other. While, at the same time, not losing sight of the current and truly important financial resource of oil. On average, revenues from oil production represented 3% of global gross domestic product (GDP) in recent data by the World Economic Forum (WEF).

  • Saudi Arabia’s UK ambassador warns Israeli war with Lebanon would quickly turn global

    A Saudi Arabian diplomat has warned Israel against a war in Lebanon, insisting that the kingdom will not normalise relations without justice for the Palestinian people.

    Israel and Hezbollah have both claimed they are ready to go to war this week, raising fears of a regional spillover of the Israel-Gaza war, which is entering its ninth month.

    Prince Khaled bin Bandar Bin Saud, Saudi Arabia’s ambassador to the UK, called on Israel and the international community to “recognise the danger that lies ahead”.

  • Too early for Saudi oil to be priced in renminbi, analyst says

    Jean-Michel Saliba of BofA Global Research says U.S.-Saudi relations have been around for many years, and “it’s not only about economics, there’s very deep political ties.”

  • How to apply for a U.S. visa in Saudi Arabia: A comprehensive guide

    If you are living in Saudi Arabia and plan to visit the United States soon, you will need to apply for a visa at the U.S. embassy in Riyadh or at the consulates in Jeddah or Dhahran. The required documents and types of visas to the U.S. are many and might get confusing. Therefore, here is a comprehensive guide to everything you need to know about applying for a U.S. visa in Saudi Arabia.

  • What the end of petrodollars means

    Let’s take a look back to the Nixon administration. America was beset by high inflation and large current-account deficits amid an ongoing war in Vietnam, putting downward pressure on the dollar and threatening a run on US gold reserves. In 1971, the US ended the dollar’s convertibility to gold — which had been the lynchpin of the Bretton Woods international monetary system of fixed exchange rates. Major currencies began to float against each other in 1973. Then came the oil shock that fall, when the Organization of Petroleum Exporting Countries (OPEC) cut oil production and embargoed shipments to the US during the Yom Kippur war.