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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 […]

     
  • 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 […]

     
  • 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 […]

     
  • Saudi private-sector growth in August is fastest this year: PMI
     

    Growth in Saudi Arabia’s non-oil private sector edged up in August to its fastest rate this year, according to reports, “suggesting a long-awaited recovery of the economy may have begun.” The seasonally adjusted Emirates NBD Saudi Arabia Purchasing Managers’ Index rose to 55.1 last month from 54.9 in July; a level above 50 indicates expansion, Reuters […]

     
  • Saudi Arabia’s PIF Seeks $11 Billion Loan, FT Reports
     

    Saudi Arabia’s Public Investment Fund (PIF) is set to choose international banks to lend the wealth fund $11 billion, according to a report in the London-based Financial Times. The FT reports that there is strong interest from major international lenders in participating in the loan to the PIF, including “[s]ome of the most senior names in international banking, including JPMorgan’s Jamie Dimon, Morgan […]

     
  • 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 […]

     

MUST-READS

  • Interpol to establish regional office in Saudi Arabia

    Interpol is to establish an office in Saudi Arabia that will serve the Middle East and North Africa region. Hisham Al-Faleh, undersecretary at the Kingdom’s Ministry of Interior, and Jurgen Stock, secretary-general of the international police organization, signed a host country agreement on Wednesday. Prince Abdulaziz bin Saud, the Saudi Minister of Interior, and Maj. Gen. Ahmed Naser Al-Raisi, the president of Interpol, also attended the signing ceremony, the Saudi Press Agency reported. In addition, they discussed Interpol’s activities during a meeting that also included Nasser Al-Dawood, the deputy minister of interior; Brig. Gen. Abdulmalik Al-Saqeeh, the director general of Saudi Interpol; and other senior officials.

  • Adesanya vs Imavov: UFC fight Saudi Arabia – start time, card, how to watch

    The Ultimate Fighting Championship (UFC) travels to Saudi Arabia with an impressive lineup of mixed martial arts (MMA) talent, headlined by a thrilling main event middleweight clash between former two-time UFC champion Israel Adesanya of New Zealand and France’s rising star, Nassourdine Imavov. The co-main event features a much-anticipated bout between the all-round brilliance of Shara Magomedov from Russia and the powerful punching Briton, Michael Page.

  • Simplex secures $13 million to propel Saudi expansion

    Simplex, a rising startup in the field of CNC machine manufacturing, secures $13 million as part of Saudi efforts to support and localise advanced industries within the Kingdom. Simplex will use the fund to open a huge factory, which is set to be built on a 20,000 square meter site in Riyadh, the Saudi capital, and will be dedicated to producing advanced CNC machines. Simplex signed a memorandum of understanding with Saudi Arabia's National Industrial Development Centre to establish the company's first factory within the Kingdom of Saudi Arabia.

  • Saudi Arabian team to standardise use of seawater in concrete production

    A team led by Saudi Arabian developer Neom has announced plans to research new forms of concrete, including ones that incorporate seawater, plastics, fine sand and construction waste. The NovusCrete consortium will look for ways to reduce the environmental impact of concrete, and also to cut costs and increase its lifespan and ease of recycling. Other members of the team include the kingdom’s Public Investment Fund, the Saudi Investment Recycling Company, Swiss chemicals producer Sika and US-based concrete researcher ClimateCrete. They will also work alongside the American Concrete Institute, which has established a committee for the use of seawater in concrete.

       

  • Qatar approves memorandum on nuclear safety cooperation with Saudi Arabia

    The Qatari Cabinet has approved a draft memorandum of understanding for cooperation in nuclear safety and radiation protection between its Ministry of Environment and Climate Change and Saudi Arabia’s Nuclear and Radiological Regulatory Commission. This decision was made during the Cabinet’s regular meeting yesterday morning, chaired by Prime Minister and Minister of Foreign Affairs Sheikh Mohammed Bin Abdulrahman Al Thani, according to the Qatar News Agency (QNA). In 2006, the Supreme Council of the Gulf Cooperation Council (GCC) decided to conduct a joint study on the use of nuclear technology for peaceful purposes, including electricity generation and water desalination. The six GCC countries agreed to carry out an initial feasibility study, followed by a detailed assessment and an implementation plan. The results of the detailed study, completed in 2010, confirmed the technical and economic feasibility of establishing a joint nuclear power plant.

  • KBR Scores Contract to Support Saudi Energy Future

    Global engineering specialist KBR Inc. has booked a contract to support a sustainable production of energy resources in Saudi Arabia. KBR said in a media release it will contribute to the delivery of Aramco’s Master Expansion Program and increase gas handling capacity at key regional locations. The agreement will see KBR assist efforts to increase and maintain the maximum sustainable capacity across the Shaybah field's four Gas-Oil Separation Plants (GOSPs) through 2028. It said it will also support the operation of power plant and well injection facilities. The project prioritizes sustainability by integrating carbon-free energy alternatives, carbon capture, and gas reinjection to reduce emissions, optimizing existing equipment and GOSP plot space, and evaluating a greenfield facility to enhance resource efficiency while supporting Saudi Aramco’s 2060 net-zero goals, KBR said.

  • Saudi Arabia’s Construction Boom: $71.5 Billion in Projects Awarded in 2024

    Saudi Arabia’s construction sector is experiencing a significant surge.  The Kingdom awarded a staggering 314 public projects in 2024. These projects total approximately 267.8 billion Saudi riyals ($71.5 billion USD). This marks the highest annual project value since the 2020 Covid-19 pandemic.  The Saudi Contractors Authority (SCA) released these impressive figures.  The SCA represents a majority of construction firms within the Gulf Kingdom. April witnessed the highest project value, reaching SAR57.4 billion ($15.3 billion). January followed with projects worth SAR36.8 billion ($9.8 billion). In December, the government awarded 11 projects totaling about SAR10.5 billion ($2.8 billion). One project from December will complete in 2025, two in 2026, six in 2027, and two in 2030.

  • Saudi Arabia launches water and sanitation projects worth USD 1.2 billion

    Among the key projects, the Saudi Water Authority (SWA) will implement SAR 1.3 billion (about USD 346 million) in infrastructure upgrades, including technology replacements at Shuqaiq 1 desalination plant, as well as new security systems and water transport systems. The National Water Company (NWC) is investing SAR 607 million (about USD 162 million) in 20 water and sanitation projects in the Jazan region, improving supply networks and implementing advanced wastewater treatment plants. Additionally, SAR 48 million (about USD 13 million) will be allocated to three projects by the National Center for Vegetation Development and Combating Desertification.

  • Opinion: How Donald Trump Should Deal With Saudi Arabia

    Trump and MBS are prepared to pick up where they left off. The two view each other as force multipliers for their respective agendas. Trump looks at the Saudi crown prince and sees a high net-worth individual who could throw a gargantuan amount of petrodollars into the American economy. In Trump, MBS spots a transactional businessman who couldn't care less about high-browed concepts like the rules-based international order. Both men are also nationalists to the core. MBS can relate to Trump's "Make America Great Again" mantra because he is following the same playbook in the kingdom. MBS wants to make his country stronger and wealthier than ever before, best exemplified by his Vision 2030 economic campaign to diversify Saudi Arabia from an oil-pumping machine into a center of banking, finance, and sports.

  • Saudi Arabia: Stricter Exit Visa Rules Implemented for Resident Permits

    Holders of a resident permit who are applying for an exit visa must now have at least 30 days of validity on their resident permit; whereas previously such foreign nationals could apply for an exit visa up until the last day of their resident permit. As a result of this change, resident permit holders whose resident permit has a remaining validity period of less than 30 days must first renew their resident permit before they can apply for an exit visa. This new rule only applies to standard resident permits, as premium resident permits are not subject to any exit visa requirement.