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Storms Pound Saudi Arabia as Floods in Jeddah Claim 12 lives
At least 12 people are dead as torrential rains have flooded Jeddah, Saudi Arabia’s second-largest city, as thunderstorms reportedly turned “wadis into rivers and alleyways into raging torrents.” Local meteorologists report the city received 22 millimetres (.86 inches) of rain over a few hours. Two people were electrocuted when they touched a lamp post as they […]
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Consumers in Saudi Arabia Unaffected by Slump in Oil Price, Government Fiscal Policy Shifts
Consumers in Saudi Arabia are thus far reportedly feeling few effects of the fall in oil prices on the broader Saudi economy, Bloomberg reports, though the government is taking measures to curb spending and adjust its fiscal policy to new realities. “It’s Saudi policy in action,” writes Bloomberg. “When the revenue slows down, as it’s doing […]
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This is Damascus Now: Incredible Drone Footage Reveals Extent of Devastation in Damascus from Syria’s Bloody Civil War
Incredible aerial footage of Syria’s capital, Damascus, has emerged showing widespread devastation to a once vibrant city. The Associated Press reports that the original video was shot by RTR war correspondent Yevgeny Poddubny on October 18, noting, “thousands of Syrian army airstrikes and barrel bombs dropped from army helicopters throughout the country’s civil war have reduced […]
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In First Interview as Capital Markets Authority Chairman, Mohammed Al-Jadaan Indicates Willingness to Open Stock Market to Wider Foreign Investment
Saudi Arabia would be open to relaxing its rules on foreigners investing directly in its stock market to help it get included in global indices, the chairman of the Capital Market Authority told Reuters. In his first interview with international media, Al Jadaan told Reuters that “[o]ne of our objectives is to ensure we are […]
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CMA Tightens Curbs on Anonymous Investors in Preventive Measure to Curb Money Laundering and Terrorist Financing
Saudi Arabia’s Capital Market Authority has further tightened its restrictions on anonymous investors trading shares through brokers in a bid to prevent money laundering and financing of militant groups, Reuters reports. The new rules apply to Saudi and Gulf-based brokers and banks “which offer opportunities to invest in the Saudi stock market through funds called ‘nominee accounts’. […]
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Riyadh Metro Milestone Hit As Drilling Completed in First Tunnel Section
Saudi Arabia’s long-awaited Riyadh metro project has hit a major milestone as a consortium led by Spanish construction giant FCC said it has completed the drilling work related to the first tunnel section of Line Five (Green line). According to TradeArabia, FCC said these works “represent a new milestone for the consortium after becoming the […]
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Saudi Foreign Minister Adel Al-Jubeir Deplores World’s Inability to End Bloodshed in Syria in UN Speech
In a passionate speech to the members of the UN General Assembly yesterday, Saudi Arabia’s Foreign Minister Adel Al-Jubeir said “those whose hands are stained with the blood of the Syrian people” have no place in a “new Syria” and expressed deep concern that the international community has been unable to save innocent Syrians from the […]
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An Overview of the Conflict in Yemen, in Maps
The European Council on Foreign Relations published an extensive and informative overview of the conflict in Yemen using maps to show the country’s political history and ongoing conflicts. “Far from reaching a tidy conclusion,” the conflict is War in”growing, if anything, more complicated by the day,” the EUCFR writes. “Rather than being a single conflict, […]
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Democratic Ex-Congressman Calls for Deepening of U.S.-Saudi Ties, ‘This partnership serves U.S. economic as well as security interests’
Former Rep. Gary L. Ackerman (D-N.Y.) from New York, who served for 30 years in the U.S. House, has penned an op-ed in The Hill outlining the importance of strengthening ties between the U.S. and Saudi Arabia. “Sometimes, it’s a good idea to reach out to your enemies. But don’t ever take old friends for […]
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Saudi King Salman Orders Safety Review After Hajj Stampede Tragedy
Saudi Arabia’s King Salman has ordered a safety review for the Hajj pilgrimage after at least 717 people died and 863 were injured in a stampede at Mina, near the holy city of Mecca, according to reports. Via a report in Germany’s DW, Saudi officials put the blame for the tragedy partially on”undisciplined pilgrims” who […]
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MUST-READS
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Vision 2030: What are Saudi Arabia’s overarching goals?
The first goal of Vision 2030 is to cultivate a content and fulfilled society, laying the foundation for the attainment of economic prosperity.
According to the Kingdom’s Vision 2030 official website, the goal focuses on creating strong roots that embrace modern Islam, national pride and Saudi heritage and culture, while also providing world-class entertainment options, sustainable living, and efficient health and social care systems.
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Saudi Arabia sees 16% increase in net direct foreign investment
During a meeting of the Council of Economic and Development Affairs (CEDA), the Ministry of Economy and Planning reported a notable 16% increase in net direct foreign investment inflows for the fourth quarter of 2023 compared to the previous quarter.
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State Department OKs Saudi Arabia’s $250M Blanket Order Training Support FMS Request
Under the proposed transaction, the U.S. Navy will also provide professional military education support for Saudi Arabia’s naval forces, which will not require the deployment of any additional U.S. government and contractor personnel to the Middle Eastern country.
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Saudi Arabia’s Vision 2030 Is Too Expensive For Tourists – And Everyone Knows It
Between now and the end of the decade, 320,000 new hotel rooms are expected to open in Saudi Arabia. According to Knight Frank, 82% of those new rooms are in the luxury and upscale segments. And 66% of Saudi’s current 149,400 rooms are also upscale and luxury.
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Can Saudi Arabia’s Vision 2030 still succeed?
“I don’t think I’ve ever met anyone who believed it would be built as conceived, Saudis included,” Jim Krane, energy research fellow at Rice University’s Baker Institute, told The New Arab.
“Erecting a 100-mile-long skyscraper in the middle of nowhere is not a great use of scarce resources.”
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Saudi tourism sector booming, IHG currently builds 39 hotels: CEO
The Saudi tourism sector is seeing continuous growth. The Ministry of Tourism has managed to surpass the target number of visitors, in addition to the rise in occupancy rates and increased demand from tourists and businessmen to the Kingdom, Haitham Mattar, CEO of IHG Hotels & Resorts in the India, Middle East, and Africa region, said that the tourism sector, said.
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Saudis push for ‘plan B’ that excludes Israel from key deal with US
The US and Saudi Arabia have drafted a set of agreements on security and technology-sharing which were intended to be linked to a broader Middle East settlement involving Israel and the Palestinians.
However, in the absence of a ceasefire in Gaza and in the face of adamant resistance from Benjamin Netanyahu’s Israeli government to the creation of a Palestinian state – and its apparent determination to launch an offensive on Rafah – the Saudis are pushing for a more modest plan B, which excludes the Israelis.
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Hans Grundberg: Mediation in Yemen
Well, there's nothing that says that the United Nations has a monopoly on mediation, but there is an advantage of having the United Nations as the mediator. The reason is that you get some long-term approach from the United Nations. You get an organization that will engage on a certain conflict with a long-term vision in mind. That won't change depending on the situation in the world. But also, the additional value that you have using the United Nations as a mediating entity is the fact that it's the only universal intergovernmental organization there is. With that comes a certain relative impartiality. I say “relative” because impartiality will always be contested, but you will not find a party that is more impartial than the United Nations. When I mediate, I represent the global community.
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U.S. urges Hamas to take ceasefire deal as Blinken lands in Israel
The White House urged Hamas and its interlocutors to accept a “fresh” proposal that would in its first phase free three dozen vulnerable hostages during a 40 day Gaza ceasefire, and said the United States would serve as one of the guarantors of the deal. “This is a…really good proposal and Hamas ought to jump at it,” National Security Council spokesperson John Kirby told reporters on a zoom today (April 30). “And time is of the essence.” “Our focus right now is on getting a ceasefire and hostages home,” Secretary of State Antony Blinken told reporters in Amman, Jordan, today before flying to Israel. “That is the most urgent thing, and it’s also I think what is achievable.”
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Mosaic sells Saudi JV stake to Ma’aden in $1.5 billion deal
US fertilizer company Mosaic (NYSE: MOS) is selling its 25% stake in an $8 billion Saudi Arabian phosphate production joint venture to the country’s flagship miner Ma’aden, in a stock deal worth about $1.5 billion.
Ma’aden, which already holds 60% of Ma’aden Wa’ad Al Shamal Phosphate Co. (MWSPC), will issue about 111 million shares to buy Mosaic’s stake in the venture, a partnership that also includes Saudi Basic Industries Corp, with a 15% interest. - 10 of 60110 results<< 1 … 250 251 252 … 6,011 >>