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Road to the G20: Saudi Arabia Set to Host Main Leaders’ Summit this Weekend
Saudi Arabia is set to host the G20 Leaders Summit this weekend, the main event involving the heads of the 20 nations chaired virtually by the Kingdom due to the Coronavirus pandemic.
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Saudi Economy Contracts 4.2% in 3Q, Improves from 2Q; Fitch Affirms Credit Rating at ‘A’
Saudi Arabia’s economy shrank 4.2% in the third quarter from a year earlier, government data showed on Tuesday, but the contraction was smaller than the second quarter when the economy was reeling from coronavirus-linked lockdowns, Reuters reports. The economy expanded by 1.2% on a seasonally-adjusted quarter-on-quarter basis in the third quarter from a contraction of 4.9% […]
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As Saudi Non-Oil Revenue Soars, Uncertainty Looms Over Oil Market
Saudi Arabia saw a significant boost in non-oil revenue in the third quarter of this year, with an increase of 63% year-on-year to SR123 billion ($32.8 billion), new data shows, an encouraging trend for policymakers as the market for oil continues on an uncertain path in the face of a global pandemic and global economic slowdown.
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Images: Architect Jean Nouvel Reveals Design for Sharaan Resort in Al-Ula, Saudi Arabia
French architect Jean Nouvel unveiled his design for Sharaan, a new resort hidden within the rock dwellings of Al-Ula, a cultural oasis in north-west Saudi Arabia.
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Top Names in Golf Commit to Saudi International Tournament in February
Saudi Arabia’s annual golf tournament secured two of the sports top names to compete in February, winning commitments from the world’s top-ranked golfer and the latest major championship winner on Monday to play in the Saudi International. Dustin Johnson, the world’s number one golfer, and Bryson DeChambeau, who won the U.S. Open by six strokes in […]
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Arab News Launches ‘Research and Studies’ Unit to Deliver ‘Thought-Provoking Studies by Experts on Regional Affairs’
Arab News, Saudi Arabia’s leading English-language daily news publication, has announced the establishment of a new Research and Studies Unit (RSU) which will “deliver thought-provoking studies written by a team of acclaimed resident and non-resident experts on a number of regional affairs,” according to a press release from the company.
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U.S. Again Tops Arms Exporters to the Middle East, Saudi Arabia, Report Says
A newly released report by the Center for International Policy finds the U.S. dominated arms and defense exports to the Middle East region between 2015-2019, accounting for nearly half of all deliveries of major weapons systems.
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G20 Trade and Investment Ministers Meet as Kingdom Reportedly Suggests Delay Main Summit until December
Trade and Investment Ministers from the G20 held a meeting today under the Saudi G20 Presidency to strengthen trade and investment policy cooperation towards an inclusive and sustainable economic growth amid the COVID-19 pandemic.
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Saudi Arabia’s Oil Exports to the U.S. Hit 35-Year Lows as Goldman Sees Oil at $65 Next Year
Saudi Arabia’s oil exports to the United States fell nearly 50% year-on-year in August 2020, reaching a 35-year low in oil imported from the Kingdom, according to CNN which cited info from ClipperData.
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Brent Oil Reaches 5 Month High as Saudi Aramco Announces Discovery of Two New Oil and Gas Fields
The price of oil on the UK’s Brent Oil index reached a 5-month high on Monday as supply output cuts continue to push the price of oil higher, according to reports.
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MUST-READS
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Saudi Arabia and Beyond: Meet the Women Leaders in the World of Sailing
With five America’s Cups under her belt and over 25 years of experience, Ryan has traveled far and wide to various race locations, including Saudi Arabia in November 2023. The venue for the America’s Cup Preliminary Regatta was the Jeddah Yacht Club – notably the only event ever to be hosted outside of Barcelona in this series of the America’s Cup. “I really wanted to spread the reality of what I saw in Saudi Arabia. A lot of people said to me, ‘How did you feel as a female event director running an event in Jeddah; was that challenging?’ I said, ‘Not in the slightest.’ There were many women involved in the Saudi Federation and organizations, and I never once felt any difficulty or challenge being a woman running professional events on this scale. And I wanted more people to realize that.”
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SBC Concludes Participation in the Saudi-South African Business Forum
The Saudi Business Center (SBC) has concluded its participation in the Saudi-South African Business Forum, which was held yesterday here by the National Competitiveness Center, the Federation of Saudi Chambers of Commerce, and the Department of Trade, Industry and Competition of the Republic of South Africa. SBC participated in the event to raise awareness about the services provided by government partners to the business sector, and to facilitate the initiation and conduct of business in Saudi Arabia.
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EU sanctions Iran over alleged missile transfers to Russia
The European Union has announced sanctions against more than a dozen Iranian individuals and firms, including the country’s deputy defence minister and national airline, over the alleged transfer of missiles and drones to Russia. The European Council said on Monday that seven individuals and as many entities in total would be subject to an asset freeze and travel ban over their involvement in transferring weapons and equipment to Moscow for use in its war against Ukraine.
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Israel assures US it won’t strike Iranian nuclear or oil sites, US officials say
The Biden administration believes it has won assurances from Israel that it will not hit Iranian nuclear or oil sites as it looks to strike back following Iran’s missile barrage earlier this month, two U.S. officials said Tuesday. The administration also believes that sending a U.S. Terminal High Altitude Area Defense battery to Israel and roughly 100 soldiers to operate it has eased some of Israel’s concerns about possible Iranian retaliation and general security issues.
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The Sahara Desert flooded for the first time in decades. Here’s what it looks like
Striking images from the Sahara Desert show large lakes etched into rolling sand dunes after one of the most arid, barren places in the world was hit with its first floods in decades. The Sahara does experience rain, but usually just a few inches a year and rarely in late summer. Over two days in September, however, intense rain fell in parts of the desert in southeast Morocco, after a low pressure system pushed across northwestern Sahara. Preliminary NASA satellite data showed nearly 8 inches of rain in some parts of the region.
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Saudi Arabia to open four airports for private sector by 2025
He stated that Saudi Arabia is set to become one of the world’s largest producers of green energy. Additionally, he emphasized the importance of regionalizing supply chains, with plans to establish centers for logistics supply chains in the kingdom.
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Preview: Saudi Arabia Target Crucial Win Against Bahrain in World Cup Qualifier
Saudi Arabia, under coach Roberto Mancini, look to end a three-match winless run at home. They previously suffered defeats to Jordan and Japan and settled for a draw with Indonesia. This match provides an opportunity for Saudi Arabia to regain form and push for qualification.
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Odds rising that Saudi Arabia may ‘open floodgates’ on oil production – report
"Although the focus in the oil market has shifted to geopolitical risks and potential short-term supply disruptions, just as importantly, we think the possibility that Saudi Arabia could open the floodgates has increased in recent weeks alongside reports of deteriorating cohesion among OPEC+ members," Capital Economics climate and commodities economist Kieran Tompkins wrote, adding the OPEC+ meeting scheduled for December 1 "could be a potential flashpoint."
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Weekly Briefing: Iran’s growing burden of confronting Israel
Iranian media headlines from last week vividly demonstrated the hard choices before Tehran as Iran confronts the specter of possible war with Israel and its allies. The contrasting realities exemplify the pressures Iran’s leadership is under in terms of choosing the immediate and narrow national security interests, namely focusing on saving the economy and avoiding war, versus insisting on core Khomeinist convictions of confronting Israel and the United States.
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Lina Khatib: War Spreads to Lebanon
This has been one of the biggest blows to Hezbollah morally. He's been in charge for 30 years, but the cultivation of the image has really taken off since 2006, so we're talking about almost two decades of this person being presented as almost superhuman. His image had been tightly linked to that of Hezbollah itself, so that, in the eyes of many supporters of Hezbollah, Nasrallah represented strength, resilience, victory, and all those qualities that Hezbollah wanted associated with itself. At the morale level, having this figure eliminated is a huge blow.
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