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  • Once Taboo, Valentines Day is Celebrated in Saudi Arabia
     

    Before 2018 in Saudi Arabia, Valentines Day was “an old tradition kept in the dark” and not openly celebrated by Saudis, instead being secretly observed by citizens in the privacy of their homes. Then, last year, Sheikh Ahmed Qasim Al-Ghamdi, former president of the Saudi “religious police” or Ha’ia, endorsed Valentine’s Day celebrations for the first time in […]

     
  • December Economic Data Shows Slight Cooling but Non-Oil Exports Grow, Jadwa Says
     

    The latest monthly economic chartbook released by Jadwa Investment found a cooling in some key economic data points, although the Saudi stock market soared by 10% in January as oil prices rose. The Riyadh-based Jadwa’s report found that POS rose by 10 percent while cash withdrawals were flat, and non-oil PMI index was marginally down […]

     
  • Saudi Media Powerhouse SRMG Launches Independent Arabia
     

    The Saudi Research and Marketing Group (SRMG) and the UK online publisher The Independent have launched a new digital news site, IndependentArabia.com. SRMG announced the appointment of Saudi journalist and political analyst Adhwan al-Ahmary as editor-in-chief of the online platform, while the new service will be staffed by a team of experienced journalists from Saudi Arabia […]

     
  • Saudi Oil Reserves Are Even Bigger than Previously Estimated
     

    An independent audit of Saudi Arabia’s oil reserves found that the Kingdom has more oil than previously estimated, according to reports and an official statement from the government of Saudi Arabia. The audit, conducted by Houston-based petroleum consultants DeGolyer & MacNaughton, had concluded that Saudi Arabia’s oil reserves total 268.5 billion barrels – over 2.2 […]

     
  • Positive Trends Seen in Latest Saudi Economic Data; Non-Oil PMI Up
     

    A recently-released report from Jadwa Investment found a positive trend in Saudi economic data for the month of November, with POS and cash withdrawals rising by 18 percent and 2 percent respectively, year-on-year, and growth in the non-oil PMI index. The monthly report from the Riyadh-based investment firm analyzes key macro and micro economic trends in […]

     
  • King Salman Announces ‘Sweeping’ Cabinet Reshuffle Affecting Top Domestic, Foreign Policy Posts
     

    King Salman announced on live TV on Thursday a major and sweeping reshuffling of top cabinet positions in Saudi Arabia, the first such change in leadership since June. The royal decree replaces Saudi Arabia’s Foreign Minister Adel Al-Jubeir with former finance minister Ibrahim Al-Assaf. Al-Assaf was detained, then released within weeks of his detention at Riyadh’s Ritz-Carlton […]

     
  • BBC Travel Profiles Asir’s ‘Flower Men’, Natural Beauty as Kingdom Eyes Tourism Push
     

    A recently published story in the BBC highlights the unique culture and natural beauty of the Asir province in Saudi Arabia, whose male inhabitants don colorful and ornate head dresses made of local flowers. The U.K.-based news service traveled to Asir province in the south of the Kingdom, one of the least traveled places in Arabia by Western […]

     
  • Oil Continues Rebound as OPEC, Russia Eye Production Cut Agreement
     

    The price of oil on international indices has rebounded for a second straight trading day after leaders from Saudi Arabia and Russia indicated that production cuts were likely to stabilize oversupplied markets, according to reports. But while sentiment appears to indicate a looming decision to cut production by OPEC members and Russia at a meeting in Vienna, […]

     
  • 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 […]

     
  • 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 […]

     

MUST-READS

  • Saudi Arabian film sector can lead on innovation, says agent David Unger

    Speaking at a panel entitled ‘The Growth of International Content and Potential Investment Opportunities’ which took place during the second edition of Saudi Film Confex in Riyadh (October 9-12), Ungar described the energy of Saudi creatives as “like nothing I’ve seen anywhere in the world." “Hollywood has made films the same way for over 100 years, but digital technology has changed those rules,” he said. “That is what is exciting about a country like Saudi Arabia, because it has the support and enthusiasm of the government but it is not beholden by the old systems. It’s going to be AI first, mobile first, all of that innovation is going to come from here.”

  • Hyatt debuts two hotels in Saudi Arabia

    The brand-new Park Hyatt Jaumur and Andaz Jaumur Marina, set to open in 2027, will offer a combination of 350 rooms and suites. Park Hyatt Jaumur will sit at the community’s vibrant epicentre, overlooking the marina. Designed as an oasis of relaxation with 125 rooms, Park Hyatt Jaumur will serve to seamlessly blend entertainment, leisure, and cultural experiences. Andaz Jaumur Marina will be a 225-key project with a blend of rooms and suites.

  • Saudi Ports Authority sees fewer containers in September

    The total number of handled containers amounted to 673,124 TEUs, marking a decline of 8.08% compared to the same month last year, with transshipment boxes showing a decrease of 42.98%, reaching 159,511 TEUs.  Additionally, the total general cargo amounted to 975,406 tons, solid bulk cargo to 4,473,019 tons, and liquid bulk cargo to 15,277,608 tons. Meanwhile, the ports received 343,952 cattle heads, marking a decrease of 35.58% compared to 533,948 cattle heads in the same period of 2023.

  • Saudi real estate: Best-performing areas, price rises and increase in sales

    In the 12 months to Q2 2024, Saudi Arabia’s residential transactions across the three major cities of Riyadh, Jeddah, and Dammam Metropolitan Area (DMA) recorded annual improvements in transaction volumes by 51.6 per cent, 43.2 per cent and 22.4 per cent, respectively. “Riyadh particularly is demonstrating attributes of an undersupplied market, driven by strong employment and population growth on the back of government investment projects, resulting in very tight supply in certain areas of the market as new deliveries fail to keep pace with the robust housing demand”.

  • Saudi Arabia’s Muvi Studios Locks Deals at Saudi Confex Including on Hotly Anticipated Satire About ‘Chaotic World’ of Local Stardom

    Muvi Studios, the production arm of Saudi Arabia’s leading exhibition chain, have announced a slew of deals during the ongoing Saudi Film Confex confab, including a partnership with local label Sirb Production on hotly anticipated social satire “Lail Nahar,” directed by local hitmaker Abdulaziz Almuzaini.

  • Gulf Countries Seek to Avoid Getting Drawn Into the Israel-Iran Confrontation

    The three GCC countries with a recent history of disputes with Iran are the ones most concerned. The United Arab Emirates, which is extremely vulnerable to missile attacks, and Saudi Arabia are particularly anxious to avoid any involvement in Israel’s expected retaliation. In meetings with Iranian President Masoud Pezeshkian on the sidelines of an Asia conference in Doha and, most significantly, Foreign Minister Abbas Araghchi’s highly significant October 9 visit to Riyadh, both sides made their positions unequivocally clear. Iran stated that any overflight, with or without cooperation, would be “unacceptable” and invite potential retaliation, presumably including military reprisals. For their part, Saudi Arabia and the other Gulf Arab countries expressed their neutrality in the bilateral Israeli-Iranian confrontation and their determination not to take sides in any way.

  • Golden Globes aims to include Saudi judges, says organization’s president

    Helen Hoehne, president of the Golden Globes organization, revealed the organization's aspiration to include judges from Saudi Arabia in the future. Speaking at the second edition of the Saudi Film Confex in Riyadh on Wednesday, Hoehne expressed interest in adding more judges from the region to the lineup of the prestigious awards, which already includes judges from Turkey, the UAE, and Qatar. “We don’t have any voters from Saudi Arabia yet, but that will come, and it will be my mission to bring them on board,” Hoehne said. “We’re hopeful that we expand further and become even more global than we already are.”

  • Shifting Sands in the Kingdom of Saudi Arabia

    One of the most striking aspects of this new Saudi Arabia is its progressive approach toward introducing new laws and inviting foreign investment. The kingdom has rolled out a red carpet for international businesses, showcasing its commitment to creating a dynamic economy. The recent landmark investment law exemplifies this shift — a comprehensive piece of legislation that not only outlines the regulations but also provides a roadmap for investors, answering their queries with clarity and precision. The Saudi Ministry of Investment has crafted a detailed guide, ensuring that the path to doing business in the kingdom is as seamless as possible.

  • Saudi sovereign wealth fund allocates $5.2 billion in green bonds project amid diversification push

    Saudi Arabia’s Public Investment Fund (PIF) has allocated $5.2 billion out of $8.5 billion raised through green bonds to projects as of June 2024, according to its Allocation and Impact Report released on Friday. This allocation figure is up from $1.3 billion in June of the previous year. A green bond is a type of income used to finance projects that have environmental benefits. The PIF became the first sovereign wealth fund to issue a green bond back in October 2022. It followed up with a second green bond offering in February 2023.

  • Saudi university reaches new heights in 2024 global ranking

    King Fahd University of Petroleum and Minerals, which is located in the Eastern Province, has secured a historic achievement after ranking as the top university in the Middle East and North Africa for 2024, according to the Times Higher Education World University Rankings. This puts KFUPM ahead of all universities in Saudi Arabia and the wider Gulf region. KFUPM’s rapid rise is part of a broader strategic transformation that began in 2020, when it was ranked 507th globally. In the space of just four years it has climbed over 330 spots, now securing 176th place worldwide in the 2024 rankings.