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  • Yemen’s Government to Join Peace Talks with Houthis, CNN Reports
     

    Yemen’s Saudi-backed government confirmed it will participate in United Nations-sponsored peace talks in Sweden, according to CNN, which cited the Saudi Press Agency. The announcement came shortly before the United Kingdom introduced a draft resolution on Yemen at the UN Security Council on Monday in which it calls for a ceasefire in Yemen and a two-week […]

     
  • King Salman Delivers Opening Speech at Shoura Council
     

    King Salman gave his annual speech at the opening of the third year of the Shoura Council’s seventh session on Monday and discussed a number of regional and local issues. The King urged the international community on Monday to halt Iran’s nuclear and ballistic missile programs, and reiterated the kingdom’s support for U.N. efforts to […]

     
  • Gulf Economies Recovering, but Oil Price Volatility Threatens to Weigh on Future Growth – IMF
     

    A recently released report by the IMF found that economic growth in Gulf states will recover in 2018 from a contraction last year, but that future growth remains vulnerable to volatility in crude oil prices. The global lender predicted that an overall energy price recovery from 2015-2016 lows would spur the economies of the six-nation Gulf […]

     
  • Top Think Tank in Saudi Arabia Studying ‘Hypothetical World Without OPEC’
     

    Saudi Arabia’s King Abdullah Petroleum Studies and Research Center in Riyadh is studying what happens to oil markets in a hypothetical world without OPEC, according to the Wall Street Journal and other reports. The study does not represent government thinking or any active discussions about OPEC within the Saudi government. “We’re looking at what happens if […]

     
  • S&P says Gulf countries need to raise $300 billion by 2021 – Report
     

    Gulf Cooperation Council (GCC) countries will need to raise about $300 billion between 2018 and 2021, with Saudi Arabia having the largest financing requirements, according to rating agency S&P as reported in Reuters. According to a Reuters report, the S&P expects 70 percent of the $300 billion of combined funding needs to be raised through debt […]

     
  • Crown Prince Mohammed bin Salman Launches Project for First Nuclear Plant in Saudi Arabia
     

    Saudi’s crown prince on Monday launched a project to build the first nuclear research reactor in the kingdom, Reuters reports, citing the Saudi Press Agency. The project is one of seven “cutting edge ventures” in the fields of renewable energy, atomic energy, water desalination, genetic medicine and aircraft design that were inaugurated by the crown […]

     
  • Saudi Arabia Adjusts National Transformation Plan (NTP)
     

    Saudi Arabia has adjusted some targets within its five-year National Transformation Plan (NTP), making changes to metrics on the official document that can be found on the Kingdom’s Vision 2030 website. Bloomberg first reported the changes on November 1, noting that the new document “doesn’t affect major fiscal or energy-related reforms” but nevertheless represents a scaling back of […]

     
  • Saudi Arabia’s Budget Deficit Shrinks a Whopping 60%
     

    Saudi Arabia reduced its budget deficit by 60 percent to SR49 billion ($13 billion) in the first nine months of the year, official figures published Wednesday show. The reduction — greater than anticipated in earlier budget forecasts — was the result of a significant growth in both oil and non-oil revenues, the Ministry of Finance […]

     
  • Unemployment Unchanged in Saudi Arabia in Latest Labor Market Report
     

    Unemployment in Saudi Arabia remained unchanged in the latest government estimated figures, according to a recently released report by Jadwa Investment on the Saudi labor market. The latest General Authority for Statistics (GaStat) labor market release for Q2 2018 shows that unemployment rate remained unchanged, at 12.9 percent, for the second consecutive quarter. However, the […]

     
  • Sec. Mattis, Saudi FM Al-Jubeir Meet; U.S. Calls for ‘Transparent Investigation’
     

    U.S. Defense Secretary Jim Mattis said on Sunday that he has met with Saudi Arabia’s foreign minister, Adel Al-Jubeir, and called for a “transparent investigation” into the killing of journalist Jamal Khashoggi in Turkey, according to reports. Mattis said he met Saudi Foreign Minister Adel al-Jubeir during a conference in Bahrain on Saturday and discussed […]

     

MUST-READS

  • Biden is betting $1 billion from taxpayers on a hydrogen startup

    On Dec. 23, the Department of Energy’s Loan Programs Office announced its first guarantee under Biden: $1.04 billion for Monolith Nebraska, which uses renewable electricity to split natural gas into hydrogen gas and a solid called carbon black. The hydrogen is used to produce agricultural fertilizer; the carbon black will be sold to Goodyear to make tires.

  • With Rappers, Race Cars and Raves, Saudi Arabia Learns How to Party

    This conservative Islamic kingdom is rapidly trying to ease its staid social norms, allowing women to drive and travel freely in recent years, opening doors to tourists and tolerating music blaring from modern coffee shops. Now: Dance parties in the desert. A four-day music festival earlier this month is emblematic of how Saudis are learning to have fun in ways that are common in much of the world but long forbidden here. The festival—called Soundstorm and organized by a Saudi company called MDLBeast (pronounced Middle Beast)—featured 200 performances, including from big-name DJs such as David Guetta.

  • PIF’s $40bln investment plan to boost growth of startups in Saudi Arabia

    Saudi Arabia continues to focus on efforts to spur the growth of startups in the Kingdom to help boost the national economy, as is evident from the recently announced Saudi budget 2022. According to Saudi Finance Minister Mohammed Al-Jadaan, the MENA region’s largest economy is expected to post a surplus of SR27 billion in 2023 and SR42 billion in 2024.

  • Iran nuclear talks to restart after ‘disappointing’ pause

    Chief European negotiator Enrique Mora said the next round of negotiations, the eighth so far, will see diplomats "meet to discuss and define the way ahead." The seventh round of talks ended last week with after Iran's chief negotiator, Ali Bagheri Kani, decided to return to Tehran for consultations. Bagheri Kani said that the talks will resume in a "few days" according to Iranian state media.

  • Saudi Arabia starts giving Covid-19 vaccines to children aged 5-11

    Saudi Arabia announced on Tuesday that children in the age group of 5-11 will now be able to receive their first dose of COVID-19 vaccines. The Ministry of Health noted in a statement that the priority of receiving the shots will be giving for those children at high-risk and have more susceptible from the virus' complications.

  • Project for Surveying Bedrock in Saudi Arabia has Started

    The Geological Survey of Finland (GTK) is taking part in an international consortium for surveying bedrock in Saudi Arabia in collaboration with the Saudi Geological Survey (SGS). One part of the six-year project was published this December. The updated version of the geological database portal offers some materials to be downloaded for free.

  • Saudi Arabia’s First Contemporary Art Biennale Kicks Off Arts and Culture Programme

    As part of this partnership, DGDA will support on several aspects of the Biennale including the volunteer program, artwork commissions in At-Turaif, school trips to the Biennale and workshops. These elements are meticulously designed to invite both local communities and international cultural consumers to an inclusive experience.

  • Saudi artist Abdulrahman to perform his experimental project ‘The Hope Will Never End’ at Maraya in AlUla

    An improvisational composer, independent, experimental singer and musician, Abdulrahman Mohammed’s passion lies in creating Arabic improvisational composing, combining it with Western, Indian, Mediterranean musical types, such as acoustic, indie, folk, progressive, light jazz, and instrumental Arabic songs.

  • Turkey’s crisis rattles the faithful in Erdogan’s heartland

    Erdogan's enduring appeal through more than a dozen national and local election triumphs was based on a record of economic growth and pious conservative values which enthused millions of Muslim Turks who had long felt ignored by a secular elite. Konya, home of the revered 13th-century Sufi mystic poet Rumi, has been a bastion for his AK Party (AKP), turning under his rule from an agricultural centre into an industrial powerhouse.

  • Saudi Arabia’s start-ups record best ever quarter for fund-raising in Q3, Magnitt says

    Start-ups in Saudi Arabia recorded their best ever quarter for fund-raising in the three months ending September 30, attracting $205 million in 34 deals, according to data platform Magnitt. Venture capital investments in start-ups in the kingdom more than quadrupled in the third quarter of 2021, compared with the same period last year, according to the Q3 KSA Venture Investment Report compiled in cooperation with the Saudi Venture Capital Company.