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  • Saudi Crown Prince Mohammed bin Salman in Top 10 World’s Most Powerful People
     

    Saudi Arabia’s Crown Prince Mohammed bin Salman has landed on the Forbes list of the world’s most powerful people for the first time, ranking the powerful young leader within the top 10. “There are 17 new names on the list this year, including Mohammed Bin Salman Al Saud (#8), the Crown Prince of Saudi Arabia,” Forbes writes. “His […]

     
  • Saudi Arabia Applauds Trump Decision on Iran Nuclear Deal
     

    Saudi Arabia has embraced President Trump’s decision yesterday to pull the United States out of the JCPoA, the agreement to curb Iran’s nuclear ambitions by offering sanctions relief in exchange for Iran’s compliance with non-proliferation standards, according to statements made by top Saudi officials and the Saudi Press Agency. As the chief rival of Iran in […]

     
  • For Oil Markets, ‘Volatility is Back’
     

    Rising optimism around global economic growth coupled with continued OPEC compliance to output targets and rising geopolitical tensions all contributed to pushing Brent oil prices to near 2014 highs, according to a recent report on the oil market by Riyadh-based Jadwa Investment. “Although oil prices were pressured somewhat at the start of April  due to trade tensions […]

     
  • Major Fossil Discovery in Saudi Arabia is 90,000 Years Old
     

    A recently discovered fossil finger bone dating back about 90,000 years that was unearthed in Saudi Arabia’s Nefud Desert is “pointing to what scientists are calling a new understanding of how our species came out of Africa en route to colonizing the world,” Reuters reports. The discovery, the middle bone of an adult’s middle finger, […]

     
  • Trump, King Salman Speak by Phone; Trump Urges End to Qatar Crisis
     

    President Trump and Saudi Arabia’s King Salman spoke by phone yesterday and discussed a number of regional issues, according to a readout of the call and wire reports. On the call, Trump “emphasized the importance of resolving the Gulf dispute and restoring a united Gulf Cooperation Council to counter Iranian malign influence and defeat terrorists and extremists.” The leaders […]

     
  • President Trump Calls King Salman, Urges End to Qatar Dispute
     

    President Trump and Saudi Arabia’s King Salman spoke by phone yesterday and discussed a number of regional issues, according to a readout of the call and wire reports. On the call, Trump “emphasized the importance of resolving the Gulf dispute and restoring a united Gulf Cooperation Council to counter Iranian malign influence and defeat terrorists and […]

     
  • Crown Prince Mohammed bin Salman Attends High-Powered Dinner in Los Angeles with Studio Brass, Stars
     

    Crown Prince Mohammed bin Salman and members of his entourage were welcomed to Hollywood last night with a high-powered dinner hosted by the Entertainment industry’s elite, according to a report in the Hollywood Reporter. An intimate dinner was held at Rupert Murdoch’s estate with Dwayne “The Rock” Johnson, Morgan Freeman, James Cameron, Michael Douglas, Disney CEO […]

     
  • Saudi Leadership Delighted at FTSE Inclusion for Tadawul; Billions Expected in Fresh Inflows
     

    The Saudi Arabian stock market will join FTSE Russell’s emerging market index starting in March next year in a move that will likely bring billions of dollars of fresh investment into the Kingdom, Reuters reports. Saudi Arabia’s Crown Prince Mohammed bin Salman and Finance Minister Mohammed Al-Jadaan met with the Mark Makepeace, chief executive of […]

     
  • Saudi Aramco IPO Delayed Until 2019, Financial Times Reports for Second Time
     

    Saudi Aramco’s long-awaited IPO “could be delayed until 2019 at the earliest,” the Financial Times reported on Sunday, citing British officials briefed on the matter. It is the second time the London-based newspaper was the first to report that the IPO would be delayed. The Financial Times reported the same news in September, but Saudi officials […]

     
  • Saudi Officials, Current and Former, Downplay Oil Demand Concerns
     

    Saudi officials downplayed the risk of waning demand for oil as electric vehicles become more mainstream, according to comments made by Saudi Aramco’s CEO Amin Nasser and by former Minister of Petroleum Ali Al Naimi. According to comments at the CERAWeek by IHS Markit conference on Tuesday reported by Bloomberg, Nasser said he is “not […]

     

MUST-READS

  • New SME bank to help fill Kingdom’s financing gaps

    According to a new industry survey, Saudi Arabia reported a 35 percent year-on-year increase in the number of investment deals in the technology start-up sector in 2020. A study by data research platform Magnitt found that, last year, the Kingdom accounted for 18 percent of the 496 investment deals across the Middle East and North Africa.

  • Saudi travel bans stir unease as detainees released

    Saudi activist Loujain al-Hathloul basks outdoors in a desert camp after nearly three years in jail, but like other released detainees, she endures imprisonment in another form –- a travel ban. Saudi Arabia this month provisionally released Hathloul and two jailed Saudi-Americans in what is widely seen as a nod to US President Joe Biden, who has stepped up scrutiny of the kingdom's human rights record.

  • Saudi Arabia bans planting of palm trees along roads, parks, gardens

    Saudi Arabia has imposed a permanent ban on the planting of palm trees along roads as well as in parks and gardens across the Kingdom, Okaz Newspaper reported. The move comes as part of the measures to prevent the spread of the red palm weevil and in line with the recommendation of the permanent committee concerned with the prevention of the red palm weevil in the Kingdom.

  • Saudi Inflation Still Fueled by VAT Hike, Central Bank Says

    Saudi inflation is expected to rise during the first quarter compared to the same period the previous year due to the residual effect of an increase in value-added tax but should be little changed on the previous quarter, the kingdom’s central bank said on Monday.

  • Saudi Arabian Banks: The Retail Rush

    Fast Retail Lending Growth Retail lending has historically been ignored by many Saudi banks but has expanded significantly recently and is now the primary engine of credit growth.

  • HSBC Singapore Chief Executive Tapped to Run Saudi British Bank

    Cripps will replace Chief Executive Officer David Dew at SABB, who is retiring in May, according to a statement from the Saudi stock exchange on Wednesday. He has been CEO of Singapore for the past four years and previously led the bank in Australia and the Philippines.

  • Saudi Cabinet approves establishing bank of SMEs -SPA

    “The SMEs Bank to provide all its products and services in digital form without the need to establish branches,” state news agency (SPAeconomic) wrote on Twitter.

  • Saudi Cabinet approves establishing bank of SMEs

    Saudi Arabia's Cabinet on Tuesdayapproved establishing the bank of small and medium enterprises,state news agency (SPA) reported. "The SMEs Bank brings together all financing solutions underone umbrella to enable the small and medium enterprises sectorto access appropriate financing and achieve stability andgrowth," the Ministry of Commerce wrote on Twitter.

  • Lebanon’s Hariri sees no way out of crisis without Arab support

    Lebanese Prime Minister designate Saad al-Hariri on Sunday said that his country could not be rescued from its current crisis without the support of Arab countries and the international community.

  • Saudi Central Bank to launch new 24/7 instant payments system

    The Saudi Central Bank (SAMA) on Thursday announced the launch date for a new electronic instant payments system designed to make the Kingdom less dependent on cash. Following the successful completion of trials, the digital transactions scheme will be activated with participating banks on Feb. 21, according to Asharq Business.