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Saudi Arabia to Host G20 Summit Meetings in 2020
The final communiqué of the G20 summit, which concluded this weekend in Buenos Aires, Argentina, confirmed that Saudi Arabia will host the summit in 2020. Hosting the major event involving the world’s largest economies is an opportunity for the Kingdom to showcase Saudi’s standing as a key player in the G20 and a force for economic stability. Saudi […]
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Donald Trump Affirms Solidarity with Saudi Arabia in Written Statement as Top Senators Vow Further Action
President Donald Trump vowed on Tuesday to remain a ‘steadfast partner’ of Saudi Arabia despite saying that Saudi Crown Prince Mohammed bin Salman may have known about the plan to murder dissident journalist Jamal Khashoggi last month. “This is an unacceptable and horrible crime,” President Trump said in the statement, but added, “our relationship is with […]
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Unemployment Unchanged in Saudi Arabia in Latest Labor Market Report
Unemployment in Saudi Arabia remained unchanged in the latest government estimated figures, according to a recently released report by Jadwa Investment on the Saudi labor market. The latest General Authority for Statistics (GaStat) labor market release for Q2 2018 shows that unemployment rate remained unchanged, at 12.9 percent, for the second consecutive quarter. However, the […]
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Special Economic Zone Created at Riyadh Airport to Attract Investment; New Jazan Project Launched
Saudi Arabia announced the establishment of a special economic zone around Riyadh’s airport to draw more foreign investment, Reuters reports, citing the Saudi Press Agency (SPA). The zone, which will be located in King Khalid International Airport in Riyadh, will “focus on integrated logistics and enjoy special rules and regulations aiming at attracting more multinational companies […]
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Secretary of State Mike Pompeo Visits Saudi Arabia, Meets with King, Crown Prince
US Secretary of State Mike Pompeo held separate talks with King Salman and Crown Prince Mohammed bin Salman on Tuesday in Riyadh as the situation over missing journalist Jamal Khashoggi continues. According to CNN, Pompeo had a short discussion with King Salman before a longer meeting with Crown Prince Mohammed bin Salman. US State Department spokeswoman Heather […]
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IMF Lifts Projections for Economic Growth for Saudi Arabia
In its World Economic Outlook, the International Monetary Fund (IMF) on Tuesday lifted its projections for economic growth in Saudi Arabia, the region’s biggest economy, and its oil-rich neighbors in the Gulf – while also predicting that Iran’s economy will suffer due to renewed US sanctions. The Saudi economy is expected to grow by 2.2 percent […]
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Bloomberg Lands Another Wide-Ranging Sit-Down Interview with Crown Prince Mohammed bin Salman
Bloomberg‘s reporting team in Saudi Arabia landed another wide-ranging sit down interview with Saudi Arabia’s Crown Prince Mohammed bin Salman, revealing the powerful leader’s thinking on many issues from Vision 2030 to the Saudi Aramco IPO and others. Bloomberg’s Senior Executive Editor for Economics, Stephanie Flanders, and five other Bloomberg journalists sat down with the […]
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Kingdom’s Finances Trending Positively as Higher Oil Enables Government to Increase Spending by 7% in 2019
Saudi Arabia’s Minister of Finance told reporters in Riyadh on Sunday the Kingdom would accelerate state spending next year in what he hopes will be a clear message to the private sector that the government is determined to support economic growth, according to reports. Saudi Arabia may spend SAR 100 billion ($26.6 billion) more than originally planned in 2019 […]
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PIF Launches Plans to Build Amaala, a Brand New ‘Ultra-Luxury’ Tourist Destination to Compete with Riviera
Saudi Arabia’s Public Investment Fund (PIF) has announced the launch of Amaala, set to become an uber-luxury destination on the northwestern coast of Saudi Arabia that the Kingdom hopes will compete with the French Riviera for tourism dollars when completed. Amaala is a new 3,800 square kilometer project that aims to create an all-new concept […]
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Uptick in Saudi-Pakistan Relations Following Visit of New PM Khan to Riyadh
New Pakistani Prime Minister Imran Khan visited Saudi Arabia this week for meetings with high-level Saudi officials to discuss trade and diplomatic issues. Khan met directly with King Salman and Crown Prince Mohammed bin Salman during his visit. As a result of the Prime Minister’s meetings, Pakistan has reportedly invited Saudi Arabia to become the third […]
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After Successes, Israel’s Military Is in a ‘Long Game’ With No Clear Outcome
A survey conducted this week by the Institute for National Security Studies at Tel Aviv University showed that 87 percent of Israel’s Jewish population had high or very high confidence in the military. Only 37 percent expressed such levels of trust in Prime Minister Benjamin Netanyahu. Initial Israeli euphoria aside, Mr. Orion said the military actions were a “long game” with no clear outcome. After a string of successes for Israel in Lebanon in recent days, he said, the question is, “Then what?”
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King Faisal Specialist Hospital is ‘catalyst for Saudi Arabia’s biotech revolution’
One of KFSHRC’s most significant achievements is the localization of CAR T-cell therapy production. By producing these life-saving therapies domestically, the hospital has reduced treatment costs by a substantial 80 percent and improved patient access, it said. “Recognizing the importance of a robust biotechnology ecosystem, KFSHRC has partnered with the King Abdulaziz City for Science and Technology (KACST) to establish the National Biotechnology Center. This collaboration aims to bridge the gap between scientific discovery and commercialization,” a KFSHRC statement to Arab News said.
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Saudi Arabia’s first female wildlife ranger unit celebrates 5000th patrol at Prince Mohammed bin Salman Royal Reserve
Andrew Zaloumis, CEO of the Reserve Development Authority, stated that the female ranger team are exploring new horizons one patrol at a time. He emphasized that around the world, women's conservation teams are crucial, and noted that the Reserve has focused on empowering women—who make up 33% of the 183-strong team, well above the global average of less than 11%.
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Saudi Arabia’s non-oil GDP expected to grow 5.5% from 2025 to 2027: Moody’s
Saudi Arabia’s non-hydrocarbon real gross domestic product is set to grow between 5 and 5.5 percent from 2025 to 2027, driven by increased government spending, a new analysis showed. In its latest report, US-based credit rating agency Moody’s stated that this growth marks an improvement from the 4.6 percent growth recorded in 2022-2023 and the modest 1.5 percent seen between 2017 and 2019.
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Khamenei says Israel will not defeat Iran as strikes pummel Lebanon
Supreme Leader Ayatollah Ali Khamenei said on Friday that Iran and its regional allies will not back down, after an Israeli attack on Beirut that is thought to have targeted the heir apparent to the assassinated leader of Tehran-backed Hezbollah. Iran raised the stakes when it fired missiles at Israel on Tuesday, partly in retaliation for Israel's killing of Hezbollah secretary general Sayyed Hassan Nasrallah, a towering figure who turned the group into a powerful armed and political force with reach across the Middle East.
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Emails show early US concerns over Gaza offensive, risk of Israeli war crimes
As Israel pounded northern Gaza with air strikes last October and ordered the evacuation of more than a million Palestinians from the area, a senior Pentagon official delivered a blunt warning to the White House. The mass evacuation would be a humanitarian disaster and could violate international law, leading to war crime charges against Israel, Dana Stroul, then the deputy assistant secretary of defense for the Middle East, wrote in an Oct. 13 email to senior aides to President Joe Biden. Stroul was relaying an assessment by the International Committee of the Red Cross that had left her “chilled to the bone,” she wrote.
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Saudi Arabia, UAE, Qatar, Bahrain, Kuwait Not to Allow U.S. Airbases to Be Used Against Iran
Urgent calls for de-escalation dominated the discussions, with regional leaders expressing fears that an extended conflict could jeopardize key oil installations. Although Iran has not directly threatened Gulf oil facilities, it has hinted that intervention from "Israel supporters" could lead to retaliation against their interests in the region. According to Saudi commentator Ali Shihabi, Gulf states believe an Iranian strike on their oil facilities is unlikely, but are cautious given the hints conveyed through unofficial channels.
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Middle East conflict triggers 12% plunge in global cryptocurrency market, Bitcoin falls to $60,750: Experts
Escalating conflict in the Middle East has taken a heavy toll on the global cryptocurrency market, plunging total market volume by over 12 per cent over the last 24 hours to $81.11 billion. The crash in the market volume has brought the global cryptocurrency market cap to $2.11 trillion on Friday, close to a 1 per cent decline from the previous day and a massive 30 per cent fall from its all-time high of $3 trillion.
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Saudi Arabia Railways Joins EULYNX Signalling Consortium
Saudi Arabia Railways (SAR) has officially joined the EULYNX Consortium, making it the first organisation outside of Europe to become part of the group. The EULYNX Consortium is an international collaboration of leading European railway infrastructure managers dedicated to the standardisation and modernisation of railway signalling systems.
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Gulf region remains a bright spot amid global uncertainty, IMF says
Despite numerous shocks over the past few years, the GCC region remains a “bright spot” amid global uncertainty, according to Kristalina Georgieva, managing director of the International Monetary Fund. Unemployment remains low, inflation is under control, major port exports have rebounded and international flight arrivals remain stable, Ms Georgieva told the annual GCC ministerial meeting in Doha on Thursday.
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