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  • Saudi Arabia, Iran, and Jordan Import the Most Barley in the Middle East

    The countries with the highest volumes of barley consumption in 2019 were Turkey (7.5M tonnes), Iran (5.3M tonnes), and Saudi Arabia (4.2M tonnes), together comprising 82% of total consumption.

  • eSports have a bright future in Saudi Arabia

    At the moment, East Asian countries, such as China and South Korea, lead the way, with European nations not far behind. “I would rank Saudi Arabia at the moment below the top 50 countries, but when we reach 2030 I would say according to the plans I have seen and heard, (Saudi Arabia will be in) the top 10 world wide,” said Alsadd.

  • Saudi Arabia puts crown prince’s flagship charity Misk under review

    Last month Misk and Bader al-Asaker, former secretary-general of the foundation, were named as defendants alongside Prince Mohammed in a civil lawsuit filed by Saad Aljabri, a former top Saudi intelligence official, who alleges that the crown prince plotted to assassinate him.

  • Saudi director’s journey with drones yields amazing shots of ancient sites

    After working in the US as a drone pilot for two years, he came back to the Kingdom and worked as a paramedic at the Saudi Red Crescent Authority for a while. “The moment I came back to the country, I made connections to shoot films,” he added.

  • Saudi Angel Investor Falak to seed $1.33 million in 10 startups

    Saudi Arabia-based angel accelerator Falak Investment Hub is planning to invest SAR5 million in up to 10 tech startups selected to participate in its three-month accelerator programme. Falak’s programme will focus primarily on management and strategy, marketing and growth hacking, finance and accounting, and legal and intellectual property.

  • Saudi Central bank governor says outlook for Saudi economy is uncertain

    The outlook for Saudi Arabia’s economy this year is uncertain, the kingdom’s central bank governor said on Wednesday, as the oil exporter navigates the effects of low oil prices and the coronavirus pandemic. Ahmed al-Kholifey, governor of the Saudi Arabian Monetary Authority (SAMA), speaking to a virtual Euromoney event, also reaffirmed the bank’s commitment to the local currency peg to the U.S. dollar.

  • Big on sustainability: Saudi SEC to invest $212.5m in connecting green projects to the grid

    These projects, according to the report, include the 400 MW Doumat Al-Jandal wind power plant; the 300 MW Rabigh solar power plant; the 600 MW Al Faisaliah solar power plant; the 200 MW Al-Qurayyat solar power plant station; the 20 MW Rafah solar power plant; the 300 MW South Jeddah solar power plant; the 50 MW Madina solar power plant and the 2,000 MW Sudair solar power plant

  • Crude oil is getting crushed as demand fears resurface

    US oil prices plunged 7% Tuesday to $36.76 a barrel. It was crude's worst day and lowest closing price in nearly three months. At one point, oil was down as much as 9%. Brent crude, the world benchmark, fell below $40 a barrel for the first time since late June. The fierce selling in the energy market is being driven largely by rising concern about how much crude the fragile world economy needs. With Labor Day in the rearview mirror, summer driving season in the United States is over. Jet fuel demand remains extremely weak because many people don't want to fly during the pandemic. And no one knows for sure how long it will take to recover.

  • Saudi Binladin to Hire Advisers for $15 Billion Debt Revamp

    Saudi Binladin Group plans to hire more advisers to accelerate one of the Middle East’s biggest corporate-debt revamps and tackle its estimated $15 billion debt pile. The kingdom’s top builder reached out to restructuring specialists across the Persian Gulf to assist with reorganizing the business, a spokesman for Jeddah-based SBG said in a text message. The consultants will assist Houlihan Lokey Inc., which was appointed in April to manage the group’s turnaround.

  • Saudi Arabia’s Stretched Finances Entangle Cash Cow Aramco

    Even with crude dropping below $40 a barrel this week and its cash flow plunging, Saudi Aramco is trying to pay a $75 billion dividend this year, almost all of it to the state. Concerns are mounting, including among global fund managers who bought into the company during a record initial public offering last December, that Aramco is putting strategic projects on ice and racking up debt too quickly.