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Saudi Arabia Sees Limited Impact from US Shale Oil While SABIC Eyes Gas
According to this report by Summer Said in the Wall Street Journal, a close advisor of Saudi Arabia’s Minster of Petroleum and Natural Resources Ali Al Naimi said that the production of oil from shale will be “too limited and costly” to make a significant impact on the interests of exporters, but that the so-called […]
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Photos of Saudi Arabia’s Impressive Pavilion at the Hannover Industrial Forum in Germany
Saudi Arabia’s presence at the Hannover Industrial Forum, which took place in Hannover, Germany this week, is worth seeing. The Kingdom constructed a massive pavilion to show off business opportunities in Saudi Arabia and provide a networking platform for visitors of the expo in Hannover, Germany.
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Billionaires Prince Alwaleed bin Talal, Bill Gates Team Up to Defeat Polio
Two of the richest men in the world, and the two richest men in the United States and Saudi Arabia respectively, are teaming up through their foundations to finally eradicate polio, according to a press release. “The Alwaleed Bin Talal Foundation-Global (Registered in Lebanon), chaired by HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, signed […]
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U.S. Secretary of State John F. Kerry Visits Saudi Arabia, Meets with King Abdullah, other Senior Saudi Officials [PHOTOS]
U.S. Secretary of State John F. Kerry visited Riyadh, Saudi Arabia on Monday, November 4, 2013, on a trip aimed at shoring up the “special relationship” between the United States and Saudi Arabia. Secretary Kerry met with Saudi Arabia’s King Abdullah, Foreign Minister Prince Saud al Faisal, U.S. Ambassador to Saudi Arabia Adel Al Jubeir, […]
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Hard Choices Ahead for MENA Energy Pricing
In order for Saudi Arabia to effectively address some of its most pressing challenges it will need to make some hard, unpopular and, quite likely, disruptive choices. The current uproar over the expulsion of illegal foreign workers, for example, doesn’t change the fact that it is a necessary step in re-ordering the incentives of private-sector […]
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SUSRIS Interviews Prince Turki Al Faisal on Recent Developments in the U.S.-Saudi Relationship
Following his candor at the National Council on US-Arab Relations’ Policymakers Conference in Washington, our partner site SUSRIS features an exclusive interview with Prince Turki al Faisal.
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Global Oil Services Firms Schlumberger, Halliburton, Baker Hughes Target Saudi as Growth Market in 2014, Report Says
Energy services firms Schlumberger, Halliburton, and Baker Hughes are targeting Saudi Arabia as a high growth market in 2014 in order to “revive profits that are being squeezed by overcapacity in the North American market,” according to a report by the Reuters news service. “Dozens of offshore and onshore rigs are being lined up for drilling in Saudi […]
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Stanford University in California Asks Five Questions of Saudi MBA Alumnus Fahd Al-Rasheed, CEO And Managing Director Of King Abdullah Economic City (KAEC)
Saudi Arabia’s King Abdullah Economic City (KAEC) is set to astonish the world when completed, and it is only one of four brand new cities that will be constructed by the Kingdom in the coming years. At a cost of more than $100 billion, Saudi Arabia began construction on four new economic cities designed to […]
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Saudi Ministry of Labor, Human Resources Development Fund to Sponsor Post-Doc at Harvard Kennedy School of Government
Saudi Arabia’s Ministry of Labor and the Saudi Human Resources Development Fund will sponsor a one-year postdoctoral study at the Harvard Kennedy School of Government, according to an announcement submitted to SUSTG. The purpose of the sponsorship is to better understand the Saudi labor market. The accepted applicant will train as a research fellow at […]
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Op-Ed: Block of WhatsApp, Skype Flunks Smart Phones
The proposal by telecommunications regulatory commissions in Saudi Arabia to ban VoIP services like WhatsApp and Skype, which are an inexpensive and preferred way by many to communicate, particularly between students and families abroad, has caused several in the Saudi media to take issue with the ban.
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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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Saudi, Iranian foreign ministers discuss regional developments
Saudi Foreign Minister Prince Faisal bin Farhan and his Iranian counterpart Ali Bagheri-Kani have discussed the latest regional developments in a phone call, according to a foreign ministry statement. Prince Faisal and the acting Iranian foreign minister also discussed bilateral relations, the statement said. The call between the two officials follows escalating regional tensions, including Wednesday’s assassination of Hamas leader Ismail Haniyeh.
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Saudi Arabia: Criteria for Fourteenth Wave of VAT E-Invoicing Integration
The Saudi General Authority of Zakat and Tax has unveiled the selection criteria for the fourteenth wave of its VAT e-invoicing system integration into the Fatoora platform. According to the announcement, this new wave will commence on February 1, 2025. It will target taxpayers whose VAT-taxable revenue exceeded 5 million Saudi riyals (approximately USD 1.3 million) in either 2022 or 2023.
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Saudi Arabia’s Q2 2024 budget shows 26% rise in non-oil revenues
The Ministry of Finance has revealed on Wednesday the budget for the second quarter of 2024. Non-oil revenues increased by 26.09% to SR140.6 billion, compared to SR111.51 billion in the first quarter of the year, marking an increase of SR29.09 billion. Oil revenues also rose by 17.08%, surpassing the SR200 billion mark, reaching SR212.99 billion in the second quarter compared to SR181.92 billion in the first quarter.
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Saudi Minister of Commerce Concludes Visit to Republic of Korea
The Saudi Minister of Commerce and Chairman of the Board of Directors of the National Competitiveness Center (NCC), Dr. Majid bin Abdullah Al-Qasabi, met with the Minister of Land, Infrastructure and Transport, Dr. Sangwoo Park, today in Seoul, Republic of Korea. The meeting, which also had the Kingdom of Saudi Arabia's Ambassador to the Republic of Korea, Sami bin Mohammed Al-Sadhan, in attendance, covered discussions on the Kingdom's Vision 2030, economic and development reforms, cooperation and partnership opportunities, and the exchange of expertise, particularly in priority sectors.
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Saudi equestrian team gears up for Paris 2024 Olympics with high hopes and fond memories
As the Saudi equestrian team prepares for their participation in the Paris 2024 Olympics, they are filled with memories of their last Olympic appearance, where they secured a bronze medal in the team event at the London 2012 Olympics. On Thursday, the team will compete in the mixed team show jumping event at the historic Palace of Versailles arena, established in Paris in 1624.
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Lawyers for Saudi Arabia seek dismissal of claims it supported the Sept. 11 hijackers
Lawyers for Saudi Arabia argued Wednesday that the country fought against terrorism and al-Qaida, just like the United States, in the 1990s and should not be a defendant in lawsuits seeking over $100 billion for relatives of people killed in the Sept. 11 terrorist attacks. U..S. District Judge George B. Daniels listened Wednesday to arguments about evidence in the two-decade-old Manhattan case, but he did not immediately rule.
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Saudi IPO rush set to continue in second half of 2024, top corporate lawyers say
This follows analysis by Kuwait’s Financial Centre, also known as Markaz, indicating that more than half (59%) of total IPO proceeds in the Gulf Cooperation Council (GCC) were derived from Saudi Arabia, the largest economy in the GCC, in the first half of 2024. Saudi Arabia raised US$2.1 billion from 19 offerings in the six months to the end of June. These included US$1.95 billion listed in its main market, Tadawul, and US$143 million in the parallel market, also known as Nomu.
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