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Trump says he does not want war with Iran, but says Tehran ‘likely’ behind attacks
President Donald Trump said on Monday it looked like Iran was behind attacks on oil plants in Saudi Arabia but stressed he did not want to go to war, according to reports, as the world watches how the Kingdom and its allies may respond to Saturday’s strikes. “It’s certainly looking that way at this moment,” Trump […]
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World’s Largest Fund Manager BlackRock Opens Office in Saudi Arabia
BlackRock, the world’s largest fund manager, has opened an office in Saudi Arabia, according to reports, as the company continues forward with plans to capitalize on the government’s economic reforms. A company spokeswoman told Reuters the BlackRock Riyadh office had “opened recently and is headed by Yazeed Almubarak,” the news service reports. Almubarak previously worked at Morgan Stanley […]
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Video: Saudi Ambassador to the United States Princess Reema on how lack of financial self-sufficiency for women is #Solvable
A new video interview released by the Rockefeller Foundation as part of a series on solvable problems around the world features Saudi Arabia’s new Ambassador to the United States, Princess Reema bint Bandar, discussing the issue of a lack financial literacy for women across the world. “Today more and more women are entering the workplace, […]
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Houthis attack Saudi oilfield with drone, but output ‘unaffected’
Oil prices rose for the second straight day as a drone attack launched by Yemen’s Houthi group on an oilfield in eastern Saudi Arabia on Saturday caused a fire at a gas plant, Reuters reports, but the attack “had no impact on oil production.” Energy Minister and Chairman of Saudi Aramco Khalid Al-Falih said the targeted […]
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Aramco Expats’ The Seven Wonders of Arabia, a Tribute to the Kingdom’s Remarkable Heritage Sites – Part 7: Ar Rajajil—The Stonehenge of Saudi Arabia
Aramco Expats, an online blog that is a resource for current and former Saudi Aramco expatriates and their families, recently published a series of excellent blog posts on the seven wonders of the Arabia – the best heritage sites and historical places in the Kingdom. In the final post of the series of seven, Aramco Expats chose the “Stonehenge of […]
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Houthis Reportedly Attack Dammam in Saudi Arabia, Military Parade in Yemen
Yemen’s Houthi group said on Thursday it had targeted a military site in Dammam, Saudi Arabia with a long-range missile and had launched a drone attack on a military parade in Yemen, which killed 30 people, according to reports. The attack in Dammam, which Houthis claim hit a military base, was not immediately confirmed by Saudi […]
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The Seven Wonders of Arabia, a Tribute to the Kingdom’s Remarkable Heritage Sites – Part 5: Al-Hasa—’The Grandest Oasis of All’
Aramco Expats, an online blog that is a resource for current and former Saudi Aramco expatriates and their families, recently published a series of excellent blog posts on the seven wonders of the Arabia – the best heritage sites and historical places in the Kingdom. In the fifth installment of the series of seven, Aramco Expats chose Al-Hasa Oasis in […]
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Work to Begin on 400-megawatt Dumat Al Jandal Wind Power Facility in Saudi Arabia
Saudi Arabia will begin producing wind energy at the Dumat Al Jandal site within three years to offset domestic oil consumption and diversify its energy supply, according to reports. Work will begin soon on Dumat Al Jandal, the Kingdom’s first major wind power facility, located in the Al-Jouf province in the north of Saudi Arabia, near the […]
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PIF Acquires Stake in Jasara Program Management Co., Agrees to $10b Loan Terms
Saudi Arabia’s Public Investment Fund (PIF) has acquired a 40% stake in Jasara Program Management Co., a joint venture between Saudi Aramco and Jacobs Engineering Group, three people familiar with the matter told Bloomberg. The PIF acquired 30% of Jasara Program Management Co. from Saudi Aramco and 10% of the joint venture from Jacobs, one of the people told Bloomberg, […]
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‘Expanded Reach’ for SIDF to Mining, Logistics and Energy Projects – Report
Saudi Arabia is reportedly expanding the reach of its $28b Saudi Industrial Development Fund (SIDF) to allow the financing of energy, logistics and mining projects as part of broader efforts to develop the kingdom’s industries. The changes greatly extend the purview of the Saudi Industrial Development Fund, which previously only provided financing to local manufacturing […]
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MUST-READS
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The Bread-and-Butter Issues of Jobs and Taxes in the Gulf
As Gulf governments accelerate domestic development agendas, local job creation and tax revenue are measurable indicators of economic policymaking success. Gulf citizens understand how employment status, salary, and tax liability affect their economic well-being, while it is much harder to determine the personal economic impact of foreign direct investment inflows. Expatriate workers and foreign investors can likewise calculate the costs associated with stricter requirements to employ local jobseekers and with new tax obligations. These two sensitive policy domains reflect the tricky tradeoffs associated with Gulf states’ development agendas.
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Has Gaza Created Structural Impediments to Normalization?
On September 16, the United Arab Emirates Deputy Prime Minister and Foreign Minister Abullah bin Zayed al-Nahyan made clear the UAE will not support postwar efforts in Gaza without the creation of a Palestinian state. With its explicit conditionality and reference to a “status quo” in Gaza that would prevent postwar UAE involvement, the statement represents a modulated toughening of previous UAE expressions of willingness to participate in a temporary international mission after the war. Along parallel lines September 16, a senior Omani Foreign Ministry official insisted Oman “had no intention” of normalizing relations with Israel and called for an immediate stop to Israel’s “barbaric war on Gaza.”
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Saudi Ministry of Economy and Planning Hosts Sustainable Development Event at UNGA Week
The Saudi Ministry of Economy and Planning hosted an event on the sides of the high-level week of the 79th session of the UN General Assembly. Titled 'Unlocking Innovation for Sustainable Development through Platforms and Partnerships'. The event highlighted the critical role of platforms that bring together diverse stakeholders, such as governments, businesses, civil society, and academic institutions, to drive sustainable development in a truly impactful and inclusive manner. It was stated that through these collaborative frameworks, we can ensure innovation translates into substantial and lasting change.
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Saudi Arabia AI in Manufacturing Industry Research Report 2024
Saudi Arabia AI in Manufacturing Market was valued at USD 205 million in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 34.5% through 2029.
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Commentary: Chinese Takeout in Saudi Arabia? You Bet
The company is joining a growing fleet of businesses that see a bright future in the Gulf kingdom. In recent months, Chinese firms won multibillion-dollar contracts to build solar plants and mixed-use development projects. In exchange for a $2 billion investment, PC maker Lenovo Group Ltd. is establishing regional headquarters there in a deal that is expected to create 15,000 jobs locally. And last but not least, Hong Kong’s flagship airline Cathay Pacific Airways Ltd. will start a new direct route to Riyadh in late October, pleasing Saudi officials who have been pitching the nascent tourism industry.
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Why are the United Arab Emirates and Saudi Arabia Key to the Expansion of Brazilian Agriculture?
The diversification of Brazilian export destinations is crucial to reduce overdependence on a single market, such as China, which currently accounts for a significant share of Brazil’s exports. Although China is a critical trading partner, concentrating exports in a single market makes the country vulnerable to economic and political risks, such as oscillations in demand, changes in trade policies, and economic instability.
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Benchmarking VC Investment Against Macro Dynamics: Middle East, SEA, and Africa Focus
Singapore and the UAE lead the way with the highest VC/GDP ratios in their regions, averaging 1.49% and 0.22%, respectively, between 2019 and 2023. These hubs offer optimal environments for scaling into larger markets due to government-backed initiatives, favorable regulations, and sovereign wealth fund support. On the other hand, Indonesia and Saudi Arabia are emerging as key players. Saudi Arabia, in particular, has seen consistent year-on-year growth in VC/GDP contribution since 2019, setting it apart from other regions.
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Israel and Hezbollah carry out new attacks amid fears of wider conflict
Israel struck Hezbollah targets in southern Lebanon and its Iran-backed foe attacked military facilities in northern Israel on Tuesday, increasing fears of a full-blown conflict after Lebanon suffered its deadliest day in decades. Israel's military said it hit dozens of Hezbollah targets overnight, a day after carrying out airstrikes against the armed group which Lebanese authorities said killed 558 people, including 50 children and 94 women, and wounded 1,835. Tens of thousands more have fled for safety.
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Climate goal to triple global renewable energy by 2030 within reach, IEA says
A goal to triple global renewable energy capacity by 2030 and cut fossil fuel use is within reach, the International Energy Agency said in a report on Tuesday, but will require a huge push to unlock bottlenecks such as permitting and grid connections. The report comes as leaders from government and business come together at New York Climate week to try to drive forward action against climate change.
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Neymar backs Saudi Arabia’s uncontested 2034 World Cup bid
Al Hilal forward Neymar has thrown his support behind Saudi Arabia's bid to host the 2034 World Cup, saying the event there would be "very exciting for everyone." FIFA is expected to rubber-stamp Saudi Arabia as host in an uncontested vote by the governing body's 211 member federations before the end of the year, with the Gulf nation the only candidate to enter the contest.
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