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  • Privatization and Vision 2030: Report Looks at Opportunities, Challenges for Saudi Arabia’s Ambitious Plans
     

    A recently released Jadwa Investment report lays out in detail Saudi Arabia’s ambitious privatization plans as part of its Vision 2030 economic and social reform program and identifies opportunities and challenges for decision-makers. The research report, entitled “Privatization and Vision 2030” which was emailed in a note to investors by Jadwa’s head of research Dr. Fahad Alturki, […]

     
  • Report: Trump Requested Saudi Oil Support Before Iran Nuclear Decision
     

    A day before President Trump withdrew from the Iran nuclear deal, one of his senior officials phoned key ally Saudi Arabia to ask the world’s largest oil exporter to help keep prices stable if the decision disrupted supply, Reuters reports. As Reuters reports, although the U.S. and Saudi Arabia are close allies, rarely has the United States put […]

     
  • IMF: Saudi Arabia Making ‘Good Progress’ on Vision 2030, Should Focus on Balanced Budget in 2023
     

    Saudi Arabia is making good progress in implementing Vision 2030 economic and social reforms, the International Monetary Fund (IMF) said in a statement late on Tuesday, as it urged the Kingdom not to increase spending and to focus on a balanced budget by 2023. “The government remains committed to wide-ranging economic and social reforms to transform the […]

     
  • Saudi Ministry of Justice Announces Launch of Alimony Fund ‘Modeled on UK’s Child Maintenance Service’
     

    Saudi Arabia’s Ministry of Justice is planning to launch an alimony fund similar to the United Kingdom’s Child Maintenance Service in an attempt to “empower mothers and provide sustainable living and support, for them and their children,” the Ministry said in a press release. The alimony fund is dedicated to women who are divorced and facing difficulty […]

     
  • Tadawul IPO Pushed to ‘2019 at the Earliest’ as Kingdom Eyes MSCI Inclusion Bump
     

    Saudi Arabia is delaying the IPO of the Tadawul, the Kingdom’s stock exchange, “on hopes that a potential MSCI Inc. upgrade could boost its value,” according to Bloomberg which cited people with knowledge of the matter. The Tadawul has pushed back plans to sell shares “to 2019 at the earliest,” according to Bloomberg, because waiting until after MSCI’s […]

     
  • Saudi, Qatar Bond Issues Get Cozy; Both Oversubscribed
     

    Saudi Arabia beat out regional rival Qatar’s first bond issuance since the Gulf crisis began with its own “surprise” $11 billion raise, which drew $52 billion of orders this week, according to reports. Saudi Arabia denies that the timing of the quick-fire raise was not aimed at damaging Qatar’s issuance. The Saudi debt management office told the […]

     
  • Now West, Crown Prince Salman Meets with Tech Elite in Seattle
     

    Saudi Arabia’s Crown Prince Mohammed bin Salman met with some of the world’s most prominent technology executives in Seattle this weekend as part of his three-week long official visit to the United States. The powerful millennial has prioritized technology as part of Saudi Arabia’s Vision 2030 social and economic reform blueprint, and has used the newly-empowered Public […]

     
  • Crown Prince Mohammed bin Salman visits Harvard, MIT in Boston
     

    Crown Prince Mohammed bin Salman visited Harvard University and MIT in Boston, Massachusetts over the weekend to tour two of America’s premiere higher education campuses and talk about the importance of research and entrepreneurship to Vision 2030. The visit to Boston is the second stop in a weeks long tour across the United States, his first […]

     
  • State Department Approves $1 Billion in New Military Sales to Saudi Arabia
     

    The State Department approved a possible sale of $670 million in TOW 2B (BGM-71F-Series) missiles to Saudi Arabia, according to a release from the Defense Security Cooperation Agency (DSCA). Together, with a new $300 million sale for spare vehicle parts for the Royal Saudi Land Forces Ordnance Corps, the new deals announced amount to nearly $1 billion. Defense Secretary James Mattis on […]

     
  • Crown Prince Mohammed bin Salman Kicks Off Two Week U.S. Visit Today with Meeting at White House
     

    Saudi Arabia’s Crown Prince Mohammed bin Salman arrived in Washington, D.C. last night and will kick off a two week, multi-city U.S. tour with a meeting today at the White House. The Saudi embassy in Washington, D.C. issued a release providing further details on the trip, noting that in addition to meeting with President Trump […]

     

MUST-READS

  • Saudi Film Confex 2024: catalyzing the growth of Saudi Arabia’s cinema economy

    The four-day confex brings together an array of producers, filmmakers, and specialists from Saudi Arabia and around the world. Discussions during the event revolve around the cultural significance of cinema, its economic impact, and the role of financing in the sector. The confex also underscores the integration of the film industry with other development sectors, which is seen as crucial for achieving growth and leadership in the region.

  • Cruise Saudi to Develop Red Sea Private Island

    Barbara Buczek, Cruise Saudi’s chief destination experiences officer, said: “The creation of this new cruise destination in the Red Sea marks an exciting step in the development of Saudi’s cruise industry. We look forward to welcoming cruise lines and their passengers to experience authentic Saudi hospitality, culture and activities in the heart of the Red Sea.”

  • Iraq set to pay high price for bumper wheat harvest

    A bumper harvest and a hefty grain surplus in Iraq, typically one of the Middle East's biggest wheat importers, has left the government with the prospect of a net loss of nearly half a billion dollars, according to Reuters calculations. The 1.5 million metric ton wheat surplus, helped by better than expected rains but above all by government subsidies, is excellent news for farmers. For the government, however, which pays them more than double the global market price to encourage cultivation of the food staple in often arid conditions, the price is high.

  • Saudi National Day Evolves

    Today, seven years on, Mohammed bin Salman’s reign has become more settled and predictable. The kingdom’s 94th National Day still catered to young people and families but presented more of an establishment feel, complete with military parades and fireworks. Official imagery and national songs extolled the extensive Saudi urban and industrial projects. If the earliest days of this most nationalist of eras promised festivities, now it’s time to get down to work. 

  • Saudi Civil Defense warns of heavy rains, flash floods

    The General Directorate of Civil Defense urged the public to stay cautious and in safe areas during thunderstorms affecting parts of the Kingdom from Wednesday to Sunday. It advised avoiding valleys, flood-prone areas and swimming in valley streams, the Saudi Press Agency reported.

  • Israel-Iran: Netanyahu and Biden talk for the first time since August; Israel warns Lebanon of destruction like Gaza’s

    Israeli Prime Minister Benjamin Netanyahu spoke with President Joe Biden today ahead of an Israeli Cabinet vote on the response to Iran's missile attack and after Israeli Defense Minister Yoav Gallant's trip to the U.S. was called off, Israeli and U.S. officials told NBC News.

  • Experts React: Energy Implications of Escalating Middle East Conflict

    Even in an age of generative artificial intelligence, oil price estimates remain far from an exact science, and the impacts of supply disruptions can depend significantly on scope and duration. Back-of-the-envelope estimates by ClearView Energy Partners, LLC, gauged broad new sanctions (or strict enforcement of existing ones) at up to a roughly $7/bbl impact; attacks on Iran’s principal export facility at Kharg Island at up to around $13/bbl; and a three-to-seven-day retaliatory Iranian blockade of the Strait of Hormuz between $13/bbl and $28/bbl.

  • More airlines fly over Afghanistan in last week as Middle East tensions rise

    Airlines have diverted more flights over Afghanistan over the past week to avoid Iranian airspace, data shows, adding to journey times and fuel costs in the latest disruption for routes between Asia and Europe as tensions in the Middle East escalate. Flights over Afghanistan were already growing in recent months, but expectations of an Israeli response to an Iranian ballistic missile attack on Israel last week have furthered that trend, data from flight tracker FlightRadar24 shows.

  • Oil falls as swelling US supply counters Middle East and hurricane risks

    Oil prices fell on Wednesday after U.S. data showed rising crude inventories, but losses were limited by the risk of Iranian supply disruptions caused by the Middle East conflict and Hurricane Milton in the U.S. Brent crude futures settled at $76.58 a barrel, falling 60 cents, or 0.8%. U.S. West Texas Intermediate (WTI) futures settled down 33 cents or 0.5%, at $73.24 a barrel. Crude inventories jumped by 5.8 million barrels to 422.7 million barrels last week, the Energy Information Administration said, compared with analysts' expectations in a Reuters poll for a 2 million-barrel rise.

  • USAF F-15s Arriving in Middle East as Israel Weighs Response to Iran Attack

    More of the U.S. Air Force fighters directed to deploy to the Middle East late last month arrived as Israel contemplates its response to Tehran’s ballistic missile attack on Israel on Oct. 1. A squadron of F-15E Strike Eagles began arriving in the region Oct. 9, U.S. Central Command announced. The fresh Strike Eagles deploying to the Middle East are from Mountain Home Air Force Base, Idaho, Air & Space Forces Magazine first reported. CENTCOM later announced the move. The first batch of aircraft made their way across the Atlantic and stopped at RAF Lakenheath, U.K., where they were spotted on Oct. 7 by local observers.