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  • 70 Percent Increase in New Licenses for Foreign Businesses in First Quarter, Al-Omar Says
     

    The number of new licenses approved for foreign businesses in Saudi Arabia rose by 70 percent in the first quarter from a year earlier, the head of Saudi Arabia’s General Investment Authority (SAGIA) said. According to Bloomberg, applications from British and Chinese companies drove the increase, rising by 86 percent and 71 percent, respectively. The data […]

     
  • Senate Overwhelmingly Confirms John Abizaid as US Ambassador to Saudi Arabia
     

    The Senate overwhelmingly voted to confirm retired Gen. John Abizaid as the new US Ambassador to Saudi Arabia on Wednesday in a 92-7 vote, paving the way for the former head of then U.S. Central Command to be the first person to fill the post since President Trump took office. President Trump’s choice for the next U.S. Ambassador to Saudi […]

     
  • House, Senate Vote to End U.S. Support of Yemen War, Setting Stage for Trump Veto
     

    The U.S. House of Representatives approved a resolution on Thursday that would end all U.S. involvement with the Saudi Arabia-led coalition in the war in Yemen, Reuters reports. President Trump is likely to veto the resolution, the second veto of his presidency. The vote in the House was 247-175. 16 Republicans joined the majority Democrats in […]

     
  • Saudi Aramco Opens its Books, Officially the World’s Most Profitable Company
     

    State-owned Saudi Aramco is the world’s most profitable firm, eclipsing global heavyweights like Apple and Samsung, according to new data revealed ahead of a major bond issuance. Saudi Aramco’s earnings last year before interests, taxes, and depreciation stands at $224 billion, almost three times as much as Apple. Net income last year was $111.1 billion. The revelation of […]

     
  • Oil Notches Third Straight Week of Gains, but Global Economy Fears Still Weigh on Prices
     

    Concerns that a looming economic slowdown might soon impact fuel consumption around the world are weighing down oil prices after Saudi Arabia and the OPEC+ group of oil producing nations have successfully reversed a downward trend for oil since the start of 2019. Brent hit a four-month high of $68.69 per barrel on Thursday, up from $51 […]

     
  • Senate Passes Joint Resolution to End U.S. Military Support for Saudi-Led Coalition in Yemen
     

    The U.S. Senate passed a resolution Wednesday to end American support for the Saudi-led, U.N.-backed coalition in Yemen, issuing a challenge to President Donald Trump to use his first veto of his Presidency. The bill, entitled “A joint resolution to direct the removal of United States Armed Forces from hostilities in the Republic of Yemen that have not […]

     
  • Large Quantities of Natural Gas Discovered in Red Sea, Al-Falih Says
     

    Large quantities of gas have been discovered in the Red Sea, the official Saudi Press Agency said, citing comments made by Minister of Energy Khalid Al-Falih. Al-Falih said that Saudi Aramco will intensify exploration work over the next two years after completion of a feasibility study. Falih also said Saudi Aramco was studying possible Liquified Natural Gas (LNG) project […]

     
  • Latest Economic Data Shows Continued Improvement in Saudi Economy, Jadwa Investment Says
     

    Latest economic data from Jadwa Investment’s March 2019 economic chartbook shows more positive signs for the Saudi economy. Economic data reviewed by Jadwa for the month of January showed improvements for the economy, including a 32 percent rise in POS transactions, and a rise in non-oil PMI to its highest level since December 2017, the Riyadh-based bank said. […]

     
  • Saudi Crown Prince Mohammed bin Salman arrives in China
     

    Saudi Crown Prince Mohammed bin Salman arrived in China on Thursday, the third stop of his tour of Asian nations that started with visits to Pakistan and India. The Crown Prince is slated to meet Chinese President Xi Jin Ping during the official visit. China is Saudi Arabia’s largest trading partner, ahead of the United States. At […]

     
  • Looking East, Crown Prince Mohammed bin Salman Arrives in Pakistan
     

    Saudi Arabia’s Crown Prince Mohammed bin Salman arrived in Pakistan on Sunday for the start of a tour of several Asian nations as the Kingdom looks eastward to strengthen trade relationships and business opportunities. As is usually the case for the highest Saudi royal leaders on state visits, the Crown Prince traveled with a sizable entourage […]

     

MUST-READS

  • Ericsson and KACST Partner to Launch Advanced 5G Gaming Lab in Saudi Arabia

    Ericsson and King Abdulaziz City for Science and Technology (KACST) in Riyadh, Kingdom of Saudi Arabia announce their partnership to establish a joint advanced connectivity lab for gaming and beyond at KACST’s premises, named as “Blink Lab”. The lab will feature a private 5G network and serve as a testbed for training, research, product development and commercialization of innovative gaming solutions from from global and local ecosystems.

  • Saudi Civil Defense warns of thunderstorms until Friday

    The General Directorate of Civil Defense has issued a warning that there will be thunderstorms in several regions of Saudi Arabia until Friday. The Makkah region is expected to experience moderate to heavy rainfall, accompanied by flash floods, hail and strong winds, the Saudi Press Agency reported on Monday. Taif, Maysan, Adham and Al-Ardiyat are particularly at risk, while Turabah may have light rainfall.

  • Saudi Arabia to appoint private operators to manage 4 airports soon, says Al-Falih

    “The government is moving away from direct business involvement. Empowering and enabling the private sector is essential,” Al-Falih stated. He highlighted that the Madinah airport, the Kingdom’s most efficient, is managed by a private operator under a long-term concession, while King Abdullah Port, built with no government capital expenditure, is also privately operated.

  • Saudi Arabia to invest $267bn in logistics to become global hub by 2030: minister

    Speaking at the inaugural Global Logistics Forum 2024, which began on Oct. 13 in Riyadh, Saudi Minister of Transport and Logistics Services Saleh bin Nasser Al-Jasser said SR200 billion of the total amount has already been deployed.  “These investments have translated into leapfrogs in the Saudi logistics sector, leading us to rise in global rankings, jumping 17 ranks in the Logistics Performance Index issued by the World Bank and 14 places in the Global Connectivity Index of the International Air Transport Association,” he said.

  • Saudi Arabia Participates in G7 Ministerial Meeting in Italy on Global Health Issues

    The Kingdom of Saudi Arabia has participated in the G7 Health Ministers' Meeting held in Ancona, Italy, following an invitation from the Group of Seven (G7). The meeting focused on several pressing global health issues, including antimicrobial resistance (AMR), the impact of climate change on health, and efforts to prolong human life, all aimed at strengthening international collaboration to tackle these critical challenges.

  • Foreign investors eye Saudi transport, logistics sector: Al-Falih

    He emphasized the sector’s importance due to its influence on other industries like manufacturing, agriculture, travel, tourism, and IT. Investors, especially those with large capital, are particularly keen on the transport and logistics sector. The Saudi government is stepping back from business operations, Al-Falih pointed out, highlighting the necessity of transferring sectors to the private sector. The most efficient airports and ports are run by private operators. The privatization process, including four airports, will continue in the coming months, the minister concluded

  • Saudi Arabia Reveals New Plans For Budget Tourism Development

    The 1,800-kilometer Saudi Red Sea coast is split into three areas by authorities: the north side for luxury; the center for culture and entertainment at a variety of prices; and the south for mid-market and budget choices. But most of the attention has been on luxury mega projects in the north – the center and south haven’t announced much large-scale development. A new report from the Ministry of Investment and the Saudi Red Sea Authority (SRSA) reveals new details about tourism development for mid-market and budget stays.

  • Saudi air freight sector sees 53% growth in 2024: GACA President

    President of the General Authority of Civil Aviation (GACA) Abdulaziz Al-Duailej stressed that the Kingdom witnessed a 53% surge in the air freight sector during 2024, compared to 2023, Saudi Press Agency reported. He also noted that the Kingdom's airports are on track to exceed one million tons of air freight for the first time, with expectations to reach 1.2 million tons by the end of 2024.

  • ADES says Saudi Aramco renews two onshore rigs for 10 years

    The $252 million renewals are for rigs ADES 13 and ADES 14, and the contract extension will "commence immediately upon expiry of the rigs' current firm tenor," the company said. The two rigs have been operating in Saudi Arabia since 2019, the company said in a statement. ADES has recently struck deals in Southeast Asia and Kuwait. In Southeast Asia, ADES acquired two jackup rigs worth $190 million from Vantage Drilling International, marking the Saudi energy service company's entrance into the Malaysia-Thailand joint development area, the company said Sept. 9.

  • Saudi Arabia hosts Regional Trade Policy Course for Middle East participants

    Saudi Arabia, represented by the General Authority of Foreign Trade, is hosting the Regional Trade Policy Course for Middle Eastern countries. Organised in collaboration with the World Trade Organization and King Saud University, the course will run from October 13 to December 5. The eight-week course is designed for government officials from Middle Eastern countries to exchange information, expertise, and enhance communication. It focuses on deepening participants' understanding of the economic and legal aspects of World Trade Organization rules, controls, and procedures.