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  • Strong U.S., Saudi Arabia Security Alliance Evident in Latest SIPRI Annual Report
     

    Saudi Arabia was the largest recipient of US arms in 2015–19 and accounted for 25 percent of U.S. arms exports, a surge of 17.6 percent over the period between 2010-2014, according to the latest Trends in International Arms Transfers, 2019 report from the Stockholm International Peace Research Institute (SIPRI).

     
  • The Economic Impact of Saudi Arabia Hosting the G20 Summit
     

    A recent report from Jadwa Investment looks at the economic impact of Saudi Arabia hosting the G20 Summit, noting that while the Riyadh has hosted major summits before, “the G20 summit differs due to the sheer number of different events related to it” with more than 120 workshops, ministerial meetings and specialized seminars scheduled throughout […]

     
  • Saudi Arabia Gears Up to Host G20 Summit; Saudi FM Travels to Japan for Ceremony
     

    Saudi Arabia is making major preparations to host the annual gathering of the leaders of the Group of 20 (G20) nations next year in Riyadh, the 15th meeting of the group that is set to thrust the city into the global spotlight. The meeting will be held on November 21–22, 2020, and will be chaired […]

     
  • Saudi Aramco Releases Details of November 17th IPO in Prospectus
     

    Saudi Aramco on Saturday released details of its IPO that will be the first opportunity for investors to own a piece of the world’s most profitable company and achieve one of the key goals of the Kingdom’s Vision 2030 economic reform plan. The details were released in a prospectus on Saudi Aramco’s website. The company said the […]

     
  • Future Investment Initiative 2019 Begins Tomorrow in Riyadh; Finance, Global Leaders Set to Attend
     

    The third installment of Saudi Arabia’s mega-conference, the Future Investment Initiative (FII) will kick off tomorrow October 29th at the Ritz Carlton in Riyadh. The Kingdom is expecting to see over 6000 attendees with over 275 speakers from over 30 countries. FII is billed as an international platform for expert-led debate between global leaders, investors and […]

     
  • Saudi Aramco delays planned IPO until after earnings update, seeks local listing
     

    Saudi Aramco has delayed the planned launch of its initial public offering “in hopes that pending third-quarter results will bolster investor confidence in the world’s largest oil firm,” Reuters reports, citing two sources familiar with the matter. The slight delay allows Saudi Aramco to reassure investors by first presenting results covering the period in which two […]

     
  • First shares in Aramco will be sold on Saudi stock exchange – reports
     

    Saudi Aramco will list the first shares of the company on Saudi Arabia’s stock exchange, the Tadawul, and will do so “very soon,” the company’s CEO Amin Nasser said. The local listing is likely to precede an international one, but the company has not yet selected a location, according to reports. “The primary listing is to list […]

     
  • Almarai Company Solar Project Set to be Kingdom’s Largest, For Now
     

    Saudi Arabia food and beverage conglomerate Almarai has completed a solar project which is being billed as Saudi Arabia’s largest to date, according to a report. The 15MW Al Kharj Solar project, built at a cost of SAR44.4 million (around $12 million), will generate 28GWh of solar power every year, according to the company. Almarai said Al […]

     
  • Saudi Aramco Picks Advisors for Second Run at Initial Public Offering
     

    Saudi Aramco has made first selections for financial partners in its rejuvenated attempt to file for an initial public offering (IPO), choosing Bermuda-based Lazard Ltd. and Moelis & Co. as advisors, people with knowledge of the matter told Bloomberg. “The boutique investment banks have started preparatory work on the offering, according to the people, who asked not to be […]

     
  • Trump Vetoes Three Bills Limiting U.S. Military Sales to Saudi Arabia and UAE
     

    President Trump vetoed three congressional resolutions aimed at blocking his administration from selling billions of dollars of weapons to Saudi Arabia and the United Arab Emirates. “This resolution would weaken America’s global competitiveness and damage the important relationships we share with our allies and partners,” the president said in a statement on Wednesday. The arms package included […]

     

MUST-READS

  • MBS holds call with Putin, talks oil prices as Blinken visits Saudi Arabia

    Days after Saudi Arabia’s Energy Ministry said the country would drop its oil output to 9 million bpd from 10 million bpd starting in July in a Sunday press release, the IMF lowered its forecast for the kingdom’s 2023 economic growth to 2.1%, down a full percent from its 3.1% forecast in May.

  • MBS-Blinken meeting highlights Saudi Arabia’s new Middle East policy

    Al-Ain media focused on discussions about economic cooperation, clean energy and technology. The report at AL-Ain also noted that the US had “discussed a comprehensive set of bilateral issues, such as the possibility of normalizing relations between the Kingdom and Israel, issues of Yemen, Sudan, and human rights.”

  • Saudi Arabian soccer league to get more state funding from policy backed by crown prince MBS | AP News

    The Saudi league has players from “over 40 different countries and has seen attendances increase by nearly 150% in the last year,” the statement from the SPA said. “The privatization and ownership transfer of clubs aims to accelerate progress in a variety of sports across the kingdom further growing participation, providing cutting edge facilities, increasing competition and nurturing future champions.”

  • Commentary: Saudi’s MBS Plays Diplomatic Balancing Act, But Can He Pull It Off?

    While the Saudi media describe his behavior as the creation of a new Arab order, MBS the flag bearer of the beginning of a new chapter in the region and the man to see an end to its conflicts, others see his position between democracies and dictatorships as a major gamble.

  • Opinion: KSA’s silent revolution – is MBS an ‘Arab Deng Xiaoping’?

    The Saudi Silent Revolution augurs well for the Muslim World as most Muslims take their cue from the guardian of the Holy Places, on what kind of society to build and how to place Islam in the quest for modernisation in the 21st Century. MBS has set an excellent example by squarely presenting the two as compatible in building a better and progressive tomorrow for their people.

  • Israel bombs residential building, kills 4 more people in Gaza

    Four more Palestinians were killed and seven others were wounded as Israel's air strikes against the besieged Gaza Strip continued for the third consecutive night, Palestinian medical sources confirmed on Thursday morning.

  • Wizz Air’s Gulf Unit to Double Aircraft, Staff as Demand Climbs

    The new airline is seeing “very strong demand” and expects traffic to almost double over the next 12 months from the 1.2 million passengers flown over the past year, Wizz Air Abu Dhabi Managing Director Johan Eidhagen said in an interview. The fleet will expand to 15 aircraft by March 2024 from eight currently, as the airline adds new destinations to cities within about a six-hour radius from its Abu Dhabi base. The venture is also hiring, with plans to double staff to 800 in the capital of oil-rich United Arab Emirates, Eidhagen said.

  • The Pyramid Tombs of Libya

    Archaeological evidence at Wadi Ajal suggests that the Garamantes first settled in the Fezzan region of southern Libya around 1100 BC. The growth and expansion of the civilisation relied upon a sophisticated and extensive qanat irrigation system known as “foggaras”. This system facilitated a thriving agricultural sector that sustained a sizeable populace in desert regions defunct of large bodies of water. The first reference to the Garamantes dates from the 5th century BC by the Greek historian and geographer, Herodutus. Herodutus describes the Garamantes as “a very great nation” that was living in an oasis in the middle of the Sahara Desert, thirty days journey south of the Lotophagi. Herodutus also described how the Garamantes hunted “the Troglodyte Ethiopians in four horsed chariots”. These “cave-dwelling Ethiopians” are most likely the Tebu of the Tibesti Mountains.

  • Saudi Arabia’s oil exports value climbs over 11% to $23bn in December: GASTAT   

    Saudi Arabia’s total merchandise exports, however, decreased by SR4.6 billion or 4.0 percent in December, compared to November 2022, the report noted. The GASTAT report further added that Saudi Arabia’s non-oil exports including re-exports decreased by 24.4 percent to SR22.7 billion in December 2022, from SR30.1 billion in the same period in 2021.

  • Saudi Aramco’s Luberef proposes cash dividend as profit climbs 32% to $530m in 2022

    As the profit of the company surged, its board of directors has recommended a 50 percent cash dividend, or SR5 per share, for the second half of 2022, the company said in the statement. It should be also noted that this is the first cash distribution for Luberef since its listing in December 2022. The Tadawul statement further added that the dividend distribution date will be announced later. In December 2022, during an exclusive interview with Arab News, Mohammed Y. Al-Qahtani, senior vice president of downstream, Saudi Aramco said that Luberef’s listing on the Saudi Stock Exchange was an important milestone.