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  • 2.3 Million Attend Hajj in Saudi Arabia
     

    An estimated 2.3 million pilgrims reassembled in Mina on Tuesday in celebration of the Eid Al-Adha with the rest of the Islamic world, as part of the annual Hajj pilgrimage, a 5-day journey to the holy city of Mecca in Saudi Arabia. The pilgrimage represents one of the five pillars of Islam and is required of all able-bodied […]

     
  • Saudi Aramco Weighs Global Bond Sale to Finance Purchase of Sabic Stake from PIF
     

    Saudi Aramco is considering tapping the international bond market for the first time, Bloomberg and the WSJ report, in order to finance the acquisition of petrochemical giant Sabic. The move into global capital markets could offer an alternative to an initial public offering, according to Bloomberg, citing people familiar with the talks. ‘The plans for a bond, […]

     
  • Jadwa Investment Raises Projected Economic Growth in Saudi Arabia to 2.2% in 2018
     

    Saudi Arabia’s economy is forecast to grow faster this year following a significant improvement in the global oil market, according to a recently released report by Riyadh-based Jadwa Investment. Jadwa Investment raised its forecasts for the Saudi Arabian economy’s growth in 2018 to 2.2%, compared with previous estimates for a growth rate of 1.5%. Jadwa expects Saudi production […]

     
  • Saudi Women Take the Wheel as Kingdom Marches to More Vibrant Society
     

    Saudi women exercised their new legal right to drive across the Kingdom for the first time in decades this weekend, with many taking to social media to document their experience. The new law allowing women to drive took effect on June 24th, with some newly licensed women drivers in the kingdom doing so right at […]

     
  • In Win for Saudis, OPEC Agrees On ‘Modest’ Increase in Oil Production
     

    The Organization of the Petroleum Exporting Countries (OPEC) agreed on Friday on a modest increase in oil production from July, Reuters reports, after its de-facto leader Saudi Arabia “persuaded arch-rival Iran to cooperate” amid calls from major consumers to help reduce the price of crude and avoid a supply shortage. The increase followed days of […]

     
  • Report: Saudi Binladin Group (SBG) to be Renamed and Resized after Rough Decade, Graft Allegations
     

    The one time leader in Saudi Arabia’s construction market, Saudi Binladin Group, will be slimmed down and renamed, according to an exclusive Reuters report, which cited six sources familiar with the matter. The government seized management control of the construction giant from the chairman and other family members after they were detained in anti-graft arrests last […]

     
  • In Boost to Corruption Reforms, King Salman Signs Order Protecting Whistleblowers
     

    Saudi Arabia’s King Salman has ordered protection for employees who report financial and administrative corruption, according to reports, an indication that the Kingdom is taking seriously its efforts to combat graft. King Salman’s order is an “interim measure while more detailed legislation is finalized,” according to Faisal bin Farhan, the top advisor to the Royal Embassy […]

     
  • ‘Huge Potential’ for Tourism in Saudi Arabia, Jadwa Finds
     

    A recently published research report by Riyadh-based Jadwa Investment finds a ripe landscape for investment and job growth potential in Saudi Arabia’s budding tourism sector, set for gains as the Kingdom continues to open up. “Despite high local demand and consumer spending, the sector has not been a strong performer yet, offering sizeable growth opportunities for […]

     
  • Saudi Aramco Inks Two Deals Worth Nearly $50 Billion
     

    Saudi Aramco inked two deals yesterday totaling a whopping $49 billion as the state-run oil company ramps up to a planned public offering. The Wall Street Journal and Reuters report that India and Saudi Arabia on Wednesday signed an agreement to set up a “mega” crude-oil refinery with a capacity to process 1.2 million barrels a day, […]

     
  • With Entertainment Opportunities in Focus, Saudi Pitches to 250 Hollywood Elite
     

    Saudi officials on Wednesday pitched ambitious entertainment industry plans to about 250 representatives from major Hollywood financiers and players in Los Angeles. The event, organized by the Saudi General Entertainment Authority at the Four Seasons Hotel in Beverly Hills, featured Saudi investment and private-sector leaders who “promised a cadre of services to facilitate U.S. investment and partnerships […]

     

MUST-READS

  • FIFA urged to put more human rights scrutiny into 2034 World Cup deal with Saudi Arabia

    Two months before FIFA is set to confirm Saudi Arabia as the 2034 World Cup host, the soccer body was urged again Friday to allow independent scrutiny of the kingdom’s human rights obligations for the tournament.  A group of law and human rights experts plus Saudi activists abroad want FIFA to mandate ongoing reviews — and a potential termination clause — into the 2034 World Cup hosting contract.

  • Riyadh Air and foreign airlines: Transforming Saudi Arabia’s global connectivity

    The country’s current network faces a significant absence in direct routes between Riyadh and major global cities. The carrier plans to address this issue. While Saudi Arabia’s national carrier Saudia continues to serve regional destinations from Jeddah, Riyadh Air will provide more direct links between the capital and major international cities.

  • Iran’s intra-generational divide is widening

    Recent research by Dr Mansour Saei, a prominent Iranian communication scholar, unveils a society where parents and children increasingly inhabit parallel universes. The generation born between 1995 and 2010, dubbed Gen Z, is forging an identity that not only diverges from but often collides with the values and expectations of their elders.

  • Secret Documents Show Hamas Tried to Persuade Iran to Join Its Oct. 7 Attack

    Minutes of Hamas’s secret meetings, seized by the Israeli military and obtained by The New York Times, provide a detailed record of the planning for the Oct. 7 terrorist attack, as well as Mr. Sinwar’s determination to persuade Hamas’s allies, Iran and Hezbollah, to join the assault or at least commit to a broader fight with Israel if Hamas staged a surprise cross-border raid.

  • Saudi media ministry launches initiative to showcase diverse lives of residents

    The Global Harmony initiative aims to showcase the diverse lives of residents in the Kingdom, highlighting their professional and family life, social and recreational activities, contributions to the economy, success stories, and cultural integration in Saudi society, according to the Ministry of Media. It will also highlight government and private sector efforts to improve the quality of life in Saudi cities.

  • Al-Jasser: Saudi Arabia spends SR 200 billion out of the planned SR1 trillion to implement National Transport Strategy

    Inaugurating the first edition of the Global Logistics Forum at the King Abdullah Financial Center in Riyadh on Saturday, the minister said that the Kingdom's huge spending on transport and logistics sector has enabled Saudi Arabia to advance 17 places in global rankings on the “Logistics Performance Index” issued by the World Bank, and 14 places on the “Global Connectivity Index” of International Air Transport Association (IATA).

  • Saudi Arabia launches e-karting racing tracks in 6 cities

    Six cities in Saudi Arabia are set to get Hot Wheels e-karting racing tracks. The indoor e-karts will be a venture between Saudi Entertainment Ventures (Seven), part of Qiddiya Investment Company (QIC), and US toy maker Mattel. The Hot Wheels e-karting will be available in entertainment complexes such as Riyadh, Makkah, Taif, Al Madinah, Tabuk, and Jazan. In January, Seven and London-headquartered Formula E announced the building of four Formula E-branded indoor karting venues across the kingdom. These will come up in Riyadh, Jeddah, Dammam and Abha.

  • Saudi reserve celebrates Green List recognition

    The recognition came after a comprehensive assessment of the reserve by IUCN experts, who evaluated its environmental and developmental accomplishments, as well as its community engagement and preservation efforts. The authority has planted 2.4 million native seedlings and 4 tonnes of seeds, including yarrow, artemisia and haloxylon, the Saudi Press Agency reported on Sunday.

  • Conor McGregor says he’s fighting Dan Hooker in Saudi Arabia, Hooker confirms plan

    And in that time, after presumably healing a broken leg he suffered in a second straight TKO loss to Dustin Poirier, McGregor has promised his return seemingly countless times. A fight against Michael Chandler had been presumed for the better part of two years – including a booked headliner that led to the UFC's new all-time gate record, only for McGregor to pull out.

  • Real Estate Transaction Tax will be exempted under 21 circumstances

    The law revealed 21 cases in which real estate transactions are completely exempt from the tax, as the law includes specific exemptions, such as: real estate transactions related to the division of estates or gifts to relatives up to the third degree, and transactions for the purposes of endowments and charitable associations. It aims to combat tax evasion by imposing fines of up to three times of the tax due in the event of manipulation or providing inaccurate information.