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Saudi Minister of Finance Ibrahim Al-Assaf to Represent Saudi Arabia at the G20 Meetings in Washington on Thursday
The Saudi Press Agency reports the Minister of Finance, Dr. Ibrahim Al-Assaf, will represent Saudi Arabia in Washington on Thursday at the G20 meethings. He will join other finance ministers and governors of central banks.
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Opportunities for Saudi-China Trade: Is Asia the Future for the Kingdom?
As part of the recent visit by Saudi Arabia’s Crown Prince Salman to China, I participated the Saudi-China Investment Forum organized by the Saudi Arabian General Investment Authority (SAGIA). I was honored to receive an invitation to speak, and compared with forums organized inside and out of the Kingdom of Saudi Arabia in 2014, this […]
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President Obama’s Visit to Riyadh: 3 Takeaways from Obama’s Meeting with King Abdullah
President Obama’s recently concluded visit to Riyadh – his second as President – comes at a pivotal time in U.S.-Saudi relations. With the ongoing conflict in Syria and Iran’s nuclear program the big topics discussed between the two leaders, the meeting was an important opportunity for the two old allies to get on the same […]
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Analysis Roundup: President Obama’s Second State Visit to the Kingdom of Saudi Arabia
President Obama’s visit to Saudi Arabia later this week comes at a crucial time in U.S.-Saudi relations and in the context of regional and geopolitical developments.
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KACARE and Saudi Arabia’s Frightening Consumption of Energy
Four years ago, King Abdullah City for Atomic and Renewable Energy (KACARE) was established by a royal decree. Public statements highlighted the numerous nuclear and solar power plants that would be built and entered into production during the next 15 to 20 years. Large sums of money have been paid for advisers and global consulting […]
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The 10 Best SPA Photos This Month – February 2014 Edition
Saudi Arabia’s state-run press agency, the SPA, is a valuable resource. Continuing with our new series on the best photos from the SPA from the previous month, click here to see a slideshow of the best photos from this month’s events. The SPA is similar to the press offices of U.S. and other government offices […]
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Is the Saudi Arabian Economy Productive?
Over the past few years, key macroeconomic indicators point to remarkable breakthroughs by the Saudi Arabian economy. The Kingdom’s economy maintained high GDP growth rates, a budget surplus, growth in the Kingdom’s current account, all while the ratio of public debt to GDP remained minimal. Saudi Arabia’s inflation rate remained low amidst a large influx […]
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Is Saudi Arabia Too Dependent on Management Consultants and Think Tanks?
During the past ten years, major think tanks and global management consulting firms came to different government agencies and ministries in Saudi Arabia to provide them with recommendations and plans in return for huge wages – in the millions of Riyals. This makes me wonder whether these governmental bodies and ministries are managed by those […]
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The 10 Best SPA Photos This Month – January 2014 Edition
For those that follow Saudi news closely, the state-run Saudi Press Agency is a valuable resource. Similar to the press offices of U.S. and other government offices and ministries around the world, the SPA is updated daily, and features local, national and international news from the official feed on its website in Arabic and English. […]
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Saudi Arabia’s Non-Oil Export Figures are Just Numbers on Paper
During the past few weeks, we have heard in statements from Saudi officials that Saudi Arabia’s non-oil exports are increasing. In 2013 alone, the value of Saudi oil exports increased by 6.7%, while non-oil exports increased by 2.4%. From 2003 to 2012, total non-oil exports increased from SAR 350 billion to 1.4 trillion.
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Saudi Arabia’s foreign assets rise 5.5 percent to $467.5 billion in June 2024
Saudi Arabia’s foreign reserve assets increased by 5.5 percent in June 2024, reaching SAR1.754 trillion ($467.5 billion). This compares to SAR1.662 trillion ($442.98 billion) in the same month of 2023, according to official data. This represents the highest level since November 2022.
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Saudi budget deficit at $4.09 billion in Q2 2024, finance ministry says
Saudi Arabia’s budget deficit was 15.341 billion riyals ($4.09 billion) in the second quarter of 2024, the finance ministry said on Wednesday. Saudi oil revenues came in at 212.99 billion riyals in the same quarter, up 18 percent compared with the same quarter a year earlier, while expenditures were up 15 percent at 368.932 billion riyals, the ministry added.
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Prince Abdulaziz hosts official dinner for Saudi delegation at Paris 2024 Olympics
Prince Abdulaziz bin Turki bin Faisal, Chairman of the Saudi Arabian Olympic and Paralympic Committee and head of the Saudi delegation participating in the 33rd Summer Olympic Games (Paris 2024) hosted an official dinner for the Saudi delegation in Paris. In his speech at the event, Prince Abdulaziz welcomed all the distinguished guests, including the heads of national Olympic committees, international federations, and sports leaders from around the world who attended the Saudi delegation's dinner.
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Investment Minister highlights $13.3bln in opportunities for Tabuk region
Minister of Investment Khalid Al-Falih announced that the volume of ready investment opportunities in the Tabuk region, displayed on the “Invest in Saudi Arabia” platform, is worth more than SR50 billion. This statement was made during a meeting organized by the Tabuk Chamber of Commerce with investors and businessmen in the region on Monday.
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Korea-Saudi Business Forum Highlights Expanding Cooperation Beyond Oil
Since establishing diplomatic relations with Korea in 1962, Saudi Arabia has seen its trade volume increase 400-fold, becoming Korea's largest oil supplier and the largest trading partner in the Middle East. The cooperation, which was previously centered on infrastructure construction, has recently expanded to include fields such as eco-friendly energy and artificial intelligence (AI).
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Vision 2030 is moving along just fine
Since the launch of Vision 2030 in 2016, the kingdom has made tangible progress towards its targets, despite the challenges posed by the Covid pandemic, volatile oil prices, a surge in inflation and higher interest rates. Steady growth in the non-oil sector is a major area of success, as it benefits from higher domestic investment and improved competitiveness. Stronger investment remains central to the shift in the economy. The approach comprises several investment initiatives under the National Investment Strategy, which aims to lift the contribution of investment to 30 percent of GDP in 2030.
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World reacts to killing of Hamas leader Haniyeh in Tehran
The assassination of Hamas leader Ismail Haniyeh in the early hours of Wednesday morning in Iran drew regional and global reactions, raising fears of wider escalation in a region shaken by Israel’s war in Gaza and a worsening conflict in Lebanon. Hamas said that Haniyeh was killed in an Israeli strike in Iran, where he was attending the inauguration of the country’s new president.
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Iran, its proxies will meet to discuss retaliation against Israel, say sources
Top Iranian officials will meet the representatives of Iran's regional allies from Lebanon, Iraq and Yemen on Thursday to discuss potential retaliation against Israel after the killing of the Hamas leader in Tehran, five sources told Reuters. The region faces a risk of widened conflict between Israel, Iran and its proxies after Ismail Haniyeh's assassination in Tehran on Wednesday and the killing of Hezbollah's senior commander on Tuesday in an Israeli strike on the outskirts of the Lebanese capital Beirut.
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Mohammed Deif: Hamas military leader and Oct 7 mastermind was killed in Gaza airstrike, Israel says
The head of Hamas' military wing, Mohammed Deif, was killed in an Israeli airstrike in Gaza last month, the Israeli military said on Thursday, a day after the group's political leader was assassinated in Tehran. Deif is believed to have been one of the masterminds of Hamas' Oct. 7 attack on southern Israel which triggered the Gaza war. "The IDF (Israel Defence Forces) announces that on July 13th, 2024, IDF fighter jets struck in the area of Khan Yunis, and following an intelligence assessment, it can be confirmed that Mohammed Deif was eliminated in the strike," the military said.
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FIFA Publishes Saudi Arabia’s Official World Cup 2034 Bid Book
The official bid book outlines Saudi Arabia’s extensive plans and infrastructure projects and reflects the Kingdom's historic transformation. It provides the Kingdom’s plan to successfully stage one of the world's largest and most important sporting events, the FIFA World Cup.
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