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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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Princess Reema bint Bandar al-Saud Presents Credentials to President Trump at White House
Saudi Ambassador to the United States Princess Reema bint Bandar Al-Saud presented her credentials to President Trump at the White House on Monday, officially beginning her tenure as the Kingdom’s new top diplomat in Washington. “Presented credentials today at the White House. Conveyed the well wishes of Kingdom’s Leadership. Looking forward to working on strengthening and […]
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Saudi Desalination Plant Struck by Missile from Yemen, U.S. Drone Shot Down – Reports
A Saudi desalination plant was struck by a missile that appeared to come from within Yemen, according to reports. Hours after the statements from U.S. officials, Saudi Arabia confirmed the missile strike, saying it caused no damage or casualties, the Wall Street Journal reports. Shortly after the strike was made apparent, senior U.S. officials met at […]
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Aramco Expats’ The Seven Wonders of Arabia, a Tribute to the Kingdom’s Remarkable Heritage Sites – Part 1: Madain Salih
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. The blog noted that this list was, in fact, the seven runners up to […]
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UK Petrochemical Company INEOS will Invest $2bn to Build Three Plants in Saudi Arabia
INEOS, one of the world’s largest chemical producers and oil and gas companies, is a privately owned company based in London. “On top of a combined $4bn investment recently announced in the UK and Europe, this is part of a wider Group strategy of globalisation that will stimulate growth and jobs worldwide,” the company said on Twitter. […]
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Vision 2030 economic reforms ‘have started to yield positive results’ in Saudi Arabia, IMF says
The International Monetary Fund (IMF) said that Saudi Arabia’s Vision 2030 economic and social reform plan was starting to pay off for the Kingdom, according to a report issued by the fund after a mission visit. “Economic reforms have started to yield positive results. Non-oil growth has picked-up, female labor force participation and employment have […]
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Bloomberg Economics: Rising Private Sector Spending, Fiscal Stimulus Boost Non-Oil Economy
Rising private sector consumption and government fiscal stimulus measures are expected to give a boost to the non-oil Saudi economy, Bloomberg Economics reports. “BE expects non-oil growth to average 2.6% this year, up from 2.1% in 2018, helped by fiscal stimulus, a lower drag from monetary policy and improved private consumption,” the outlet revealed in […]
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Saudi Arabia Replaces Head of Civil Aviation by Royal Decree Amid Airport Delays
Saudi Arabia replaced the head of its civil aviation authority on Wednesday, Reuters reports, appointing Abdelhadi Al-Mansouri president of the General Authority for Civil Aviation (GACA). Al-Mansouri’s appointment fills a position that has been vacant officially since January, when his predecessor, Abdelhadi Al-Mansouri, was dismissed. He was appointed in June 2017. No details were given on the […]
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Al-Falih Signals ‘Wait and See’ Approach to Trump’s Harsher Iran Oil Sanctions
The recent decision by President Trump to end all Iran sanction waivers by May was welcomed in Saudi Arabia, but the Kingdom indicated it would respond cautiously with decisions on oil production. “President Donald J. Trump has decided not to reissue Significant Reduction Exceptions (SREs) when they expire in early May,” a White House readout […]
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Saudi Aramco to Acquire Stake in South Korean Hyundai Oilbank for $1.2 billion
Saudi Aramco says it has reached an agreement to acquire a $1.25 billion stake in South Korean refiner Hyundai Oilbank that would provide it with “a dedicated outlet for its crude to South Korea.” The deal was struck between Aramco and Hyundai Heavy Industries Holdings for Saudi Aramco’s subsidiary, Aramco Overseas Company B.V (AOC), to […]
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MUST-READS
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Gaza’s Suffering Is Unprecedented
The Palestinian people had never experienced this level of day-to-day suffering. Although periods of intense violence have occurred, especially at the height of the Second Intifada and during the 2014 war in Gaza, the norm has been low-intensity conflict. In a Palestinian context, the current war in Gaza is unprecedented.
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How a Saudi startup is pioneering the cultivation of algae in the desert
Hashem’s Jeddah-based startup is pioneering new methods to grow algae in the desert, using innovative outdoor cultivation systems that rely on advanced monitoring technology to overcome the environmental challenges of Saudi Arabia’s arid climate. His journey began in Boston, where he earned a degree in chemical science before pursuing a master’s in organic chemistry at King Abdullah University of Science and Technology in Saudi Arabia.
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How the convergence of AI and 5G is transforming Saudi Arabia’s smart technologies
According to a recent PwC report called “The Smarter Phone,” AI-enabled smartphones are already integrating with daily activities, leveraging predictive analytics to automate routine processes and provide real-time solutions. AI-powered assistants, image recognition and voice command systems are increasingly becoming integral parts of mobile devices, enabling more intuitive user interfaces and features such as facial recognition, automated photo sorting and smart scheduling.
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Hundreds of non-native speakers take Saudi Arabia’s standardized Arabic test
Hundreds of non-native speakers have been tested on their Arabic language skills in Saudi Arabia’s new standardized language test this week, according to the Saudi Press Agency. A total of 315 candidates from 22 countries took the Hamza Arabic Language Test in person, which was conducted by the King Salman Global Academy for Arabic Language, in collaboration with seven Saudi universities.
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Chip Giants TSMC and Samsung Discuss Building Middle Eastern Megafactories
Two chip-making giants have discussed building huge factory complexes in the United Arab Emirates that could transform the industry in the coming years and become a cornerstone for artificial-intelligence investments in the Middle East. Top executives at Taiwan Semiconductor Manufacturing Co. TSM 0.39%increase; green up pointing triangle, the world’s largest chip maker, have visited the U.A.E. recently and talked about a plant complex on par with some of the company’s largest and most advanced facilities in Taiwan, according to people familiar with the interactions.
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New Iran president’s entourage in NY signals Iran preparing to negotiate
The message the Iranian diplomatic entourage suggested is that Iran is trying to best position itself to renew diplomacy with the west when the other side is ready. Six weeks before the US presidential elections, it seems unlikely that the Biden administration will try to pursue direct negotiations with the new Iranian team. But it seems plausible that the entourage may have a chance to speak with expert contacts and perhaps some former officials to update each other on how they are thinking and help lay the groundwork for future talks when a new U.S. president takes office.
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Saudi Arabia committed to transforming tourism into sustainable industry: Minister
Saudi Arabia’s efforts in promoting tourism go beyond economic benefits, as it paves the way for people worldwide to explore the Kingdom’s rich and ancient culture, while allowing its people to discover the other cultures. This statement came during the G20 Tourism Ministers' Meeting, held in Belém, Brazil.
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Egypt is cozying up to Somalia to thwart Ethiopia
Tensions between Egypt and Ethiopia have escalated in recent days. Relations between the two African countries, already strained since 2011 due to Ethiopia’s construction and filling of the Great Ethiopian Renaissance Dam (GERD) on the Blue Nile—a project Egypt views as a major threat to its water and food security—have further deteriorated. The recent downturn comes after Egypt forged closer ties with Ethiopia’s rival, Somalia.
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US sends additional forces to Middle East as tensions soar
Americans in Lebanon should leave now while flights are still available, White House national security spokesman John Kirby said, as violence flares between Israel and Hezbollah.
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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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