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  • The United States and the Kingdom of Saudi Arabia: Eight Decades of Shared History, Strong Partnership, and United Vision

    On May 23, the Embassy of the United States of America celebrated the 246th anniversary of the United States’ independence and the 80th anniversary of the establishment of its first diplomatic presence in the Kingdom of Saudi Arabia.  The theme of the celebration was “Shared History, Strong Partnership, United Vision,” to highlight the enduring foundation of the strategic ties and friendship between the United States and the Kingdom of Saudi Arabia.

  • Tadawul Index: Saudi Arabia Stocks Head for Worst Month Since Start of Pandemic

    Stocks listed in Saudi Arabia are poised for their worst month since the start of the pandemic as investors succumb to global risk-off sentiment amid recession fears. The benchmark Tadawul All Share Index declined 8.3% in May, lagging the MSCI Emerging Markets gauge, and is on track for its biggest monthly slide since March 2020. Banks accounted for the biggest drag as investors offloaded lenders with lofty valuations during a global equities correction.

  • Opinion: Global stability partly hangs on Saudi reinvention

    Saudi Arabia’s attempts at reinvention are in full view at the World Economic Forum in Davos, Switzerland. It has branded multiple cafés on the main drag, including one bearing Crown Prince Mohammed bin Salman’s name. As war in Ukraine gives the oil-rich nation even greater clout, it has an opportunity to realign itself politically. There’s far more work to do beyond serving coffee to the global elite.

  • Photos: Sandstorms Sweep Across Parts of the Middle East

    In recent months, an unusually high number of sandstorms has engulfed parts of Iraq, Iran, Syria, Kuwait, and Saudi Arabia. The ongoing series of storms has sent thousands to hospitals with breathing problems, and caused the closure of airports, schools, and government offices. Officials and experts are blaming the growing frequency and intensity of sandstorms in the region on the mismanagement of agricultural areas, an ongoing drought, and the effects of climate change.

  • Dividend payouts hit first quarter record, but outlook rocky

    Mining and oil firms led an 11% jump in dividend payouts to a first-quarter record of $302.5 billion, according to a closely-watched global report, though it warned companies face a growing number of challenges in the months ahead.

  • Germany, Qatar sign energy partnership agreement

    The partnership deal foresees regular meetings between authorities from both countries and creates a working group focused on developing trade relations in LNG and hydrogen, as well as one devoted to renewable energy.

  • Pentagon, CENTCOM deny reports US refueling planes took part in Israel Iran-strike drill

    U.S. refueling planes conducted a “dry refueling run” for U.S. and Israeli warplanes that was “not tied to” Israel's "Chariots of Fire” exercise, says CENTCOM spokesman.

  • Inside the multimillion-dollar illegal trade in artefacts from the Middle East

    So lucrative is this industry, that cultural property trafficking represents the third-largest international criminal activity – surpassed only by drugs and arms dealing. In 2020, global sales of art and antiquities reached more than $50 billion, and experts estimate illegal trafficking of cultural property may separately total up to $10bn every year – a figure that Interpol says has risen over the past decade.

  • Inside the multimillion-dollar illegal trade in artefacts from the Middle East

    So lucrative is this industry, that cultural property trafficking represents the third-largest international criminal activity – surpassed only by drugs and arms dealing. In 2020, global sales of art and antiquities reached more than $50 billion, and experts estimate illegal trafficking of cultural property may separately total up to $10bn every year – a figure that Interpol says has risen over the past decade.

  • Saudi Arabia starts selectively applying annual levy on domestic workers

    The Ministry of Human Resources and Social Development has started applying the first phase of the decision of the Council of Ministers to selectively impose a levy on domestic workers from Sunday, May 22. Saudi employers will have to pay an annual fee of SR9,600 for each house worker if their number exceeds four while expatriate employers will pay the same amount for each worker in excess of two. The ministry noted that only a limited segment of Saudi and expatriate employers will be affected by the decision, taken by the Cabinet on March 8, 2022.