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  • ACWA Power Wins First Utility-Scale Solar Energy Project in Saudi Arabia
     

    Saudi Arabia has announced that ACWA Power, the Saudi power generation and desalination company, has won the contract for the first utility scale solar power project in Saudi Arabia with a record-breaking tariff of 2.34 US-cents per kilowatt-hour, according to reports. ACWA Power announced the win on its website on Tuesday. “This plant is the first of what […]

     
  • Saudi Aramco CEO Says Company Eying U.S. Expansion
     

    Saudi Aramco’s CEO Amin Nasser said the company was eying expansion in the United States “where President Donald Trump’s tax cuts and support for the oil industry are making business increasingly attractive,” Reuters reports. Nasser also lauded the Trump administration as being friendly toward the oil industry. “The Trump administration has been positive towards the energy […]

     
  • House Speaker Ryan meets Saudi King Salman in Riyadh
     

    U.S. House Speaker Paul Ryan is leading a Congressional delegation to the Middle East, meeting with Saudi King Salman Wednesday in the first regional stop for talks centered on security, the Associated Press reports. The week-long Congressional Delegation (CODEL) trip to the Middle East “will focus on regional stability, the campaign against ISIS and terrorism, […]

     
  • Saudi Alternative Energy Sector Set for Big Year with Localization in Focus
     

    With U.S. shale now forecasted by analysts and the U.S. EIA to out-produce Saudi Arabia and Russia in 2018, and Saudi Arabia needing to burn less of its own oil for domestic use and continue toward a more sustainable economy, alternative energy in the Kingdom has never been hotter. Saudi leaders have long talked about the benefit of a […]

     
  • Will Saudi Arabia Purchase a Stake in Hollywood’s Largest Agency?
     

    Saudi Arabia’s Public Investment Fund (PIF) is in talks to buy a 5-10% stake in Endeavor, the holding company for Hollywood talent agency William Morris Endeavor (WME), for $500 million, according to reports. The Beverly-Hills, California based agency formed in 2009 as a merger between William Morris Agency and Endeavor Agency and represents artists across […]

     
  • First Utility-Scale Solar Plant Planned for Northern Saudi Arabia Receives Bids
     

    Saudi Arabia has announced a shortlist of bidders for the first utility-scale solar plant planned for northern Saudi Arabia, according to reports. The planned 300-megawatt solar photovoltaic (PV) project is in Sakaka, Al-Jouf province. “All of the bids opened today (Tuesday) will now undergo stringent technical, financial and legal evaluation,” Turki al-Shehri, the head of the […]

     
  • Bloomberg Report: Meeting Held Today at White House to Discuss Potential for U.S.-Saudi 123 Agreement
     

    Trump Administration officials are reportedly meeting at the White House today to discuss details of a potential nuclear cooperation agreement with Saudi Arabia, known as a 123 Agreement, according to two administration officials quoted in Bloomberg. Section 123 of the U.S. Atomic Energy Act requires the conclusion of a peaceful nuclear cooperation agreement for significant transfers of nuclear material, equipment, […]

     
  • Former President of Yemen Ali Abdullah Saleh Killed by Houthi Allies in Major Turning Point
     

    In a major turn in the ongoing civil war in Yemen, former President Ali Abdullah Saleh has reportedly been killed in fighting against his former allies in the three-year old war, the Iran-aligned Houthi militia. Clashes broke out between fighters allied with the armed Houthi militia and those in Saleh’s General Peoples Congress over the […]

     
  • Saudi Arabia to Issue First Individual Tourist Visas in 2018, Prince Sultan bin Salman Says
     

    Saudi Arabia plans to issue its first individual tourist visas next year as the Kingdom looks to expand tourism and leisure as part of its ambitious Vision 2030 economic and social reform plans. The confirmation came through comments made by Prince Sultan bin Salman, head of the Saudi tourism and national heritage commission, to CNNMoney’s Richard Quest. Visas […]

     
  • With Regional Turmoil and Domestic Changes, Resolution of Qatar Crisis Slips in Priority for Saudi Arabia
     

    The emergence of new foreign policy and domestic challenges for Saudi Arabia in recent weeks have taken precedent over resolving the Arab-led embargo of Qatar, according to Saudi Arabia’s leaders, as the United States reportedly has stepped in to support the Kingdom now elsewhere in the region. Exactly one month ago, Secretary of State Rex […]

     

MUST-READS

  • 7,000 Italian companies eye on Saudi market for investments

    The announcement was made during the Saudi-Italian Business Forum, held on Wednesday at the Federation of Saudi Chambers’ headquarters. The Italian Ambassador to the Kingdom Carlo Balducci attended the event with over 140 companies and representatives from various government agencies from both countries.

  • Saudi Development and Reconstruction Program for Yemen rehabilitates 650 homes in Aden

    A tripartite partnership between SDRPY, Alwaleed Philanthropies and the UN Human Settlements Program (UN-Habitat), the project has also contributed to building the capacity of workers in the housing, construction and building sectors, the Saudi Press Agency reported on Wednesday.

  • Saudi Arabia real estate market booms amidst strong residential and hospitality performance

    The residential sector started strong in 2024 by delivering 27,500 units in Riyadh and Jeddah. This increased the total stock to 1.46 million units in the capital and 891,000 units in Jeddah. As such, residential sale prices experienced a 10% year-on-year (YoY) increase in Riyadh whilst average rents grew by 9% annually. In Jeddah, the pace of growth was slightly slower, with sale prices rising by 5% and rents increasing by 4% YoY during the same period.

  • Saudi: Agricultural Development Fund Board approves over $533mln in loans

    The board of directors of the Agricultural Development Fund (ADF) on Wednesday held its third meeting of the current fiscal year, chaired by Minister of Environment, Water, and Agriculture, and Chairman of the board Eng. Abdulrahman bin Abdulmohsen Al-Fadley. ADF Chief Executive Munir bin Fahd Al-Sahli stated that the board approved the provision of over SAR2 billion in loans and credit facilities during the meeting.

  • Saudi Crown Prince Says No to Israel Ties Without Palestinian State

    “This is an affirmation that the Saudi position is enduring in its support of the Palestinian cause,” Mahmoud al-Habbash, the religious affairs adviser to Mr. Abbas, said in an interview on Thursday. “We’re reassured about the Saudi stance, which is a cornerstone of the Arab and Islamic world’s position.”

  • Saudi Arabia’s Groundbreaking Telfaz11 Studio Announces Satirical Film ‘Saify’ Involving Banned Religious Sermons

    Saudi studio Telefaz11, the groundbreaking label behind hit dark comedy “Mandoob” — in which a struggling man becomes a bootleg booze runner in Ryadh — is set to push the kingdom’s cultural envelope a bit further with a humorous take on the world of Saudi Arabia‘s ultraconservative  clerics.  Telfaz11 has announced that its next title will be the satirical drama “Saify,” directed by studio chief Wael Abu Mansour and set against the backdrop of the late 1990s, a time when, incidentally, cinema was banned.

  • Lazard Follows Goldman in Setting Up Mideast HQ in Saudi

    Lazard Inc. became the latest Wall Street firm to comply with Saudi Arabia’s rules for foreign firms to set up their Middle Eastern base in the kingdom, months after larger rival Goldman Sachs Group Inc. secured a similar license. The New York-based firm has received a so-called regional headquarters license from the Saudi Ministry of Investment, according to people familiar with the matter, who asked not to be identified as the information is private.

  • Adam Neumann’s Flow Pushes Into Saudi Arabia in First Global Move

    Miami-based Flow is partnering with local investors to develop and own three apartment buildings in Riyadh, which will total roughly 920 units once completed, according to people familiar with the matter who asked not to be named citing private information. “Saudi Arabia presents a tremendous opportunity to invest in a place with dynamism and growth,” a Flow spokesperson said. “We are proud to bring our product to the region and help address a growing market need.”

  • Saudi Prince Turki Al-Faisal voices hope in Harris as US election approaches

    Highlighting the upcoming election, Prince Turki voiced optimism about current Vice-President and Presidential hopeful, Harris: “Her expression of empathy and sympathy for the Palestinians at least, sounded as if she might be willing to take some action,” suggesting a potential pivot from the perceived inaction under the Biden administration.

  • Saudi Arabia’s maritime sector is set to take on a more prominent role in the global supply chain

    Leading this transformation is the Saudi Ports Authority (Mawani), which has invested heavily in infrastructure to increase the capacity of its major ports, including Jeddah Islamic Port and King Abdulaziz Port. In 2023 alone, $3 billion was dedicated to infrastructure projects, such as establishing logistics parks and allocating $1.9 billion for the development and operation of two advanced container terminals.