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  • Milestone Achieved in Launch of Saudi Arabia’s National Privatization Program and Center
     

    Saudi Arabia has announced the launch of “Delivery Plan 2020,” a privatization program headed by a newly created office, Saudi Arabia’s National Centre for Privatization (NCP), in a major milestone for the Kingdom as it looks to advance its Vision 2030 economic and social reform goals. The plan sets out the country privatization agenda for […]

     
  • ‘Huge Potential’ for Tourism in Saudi Arabia, Jadwa Finds
     

    A recently published research report by Riyadh-based Jadwa Investment finds a ripe landscape for investment and job growth potential in Saudi Arabia’s budding tourism sector, set for gains as the Kingdom continues to open up. “Despite high local demand and consumer spending, the sector has not been a strong performer yet, offering sizeable growth opportunities for […]

     
  • CEDA Approves Privatization Program in Progress for Vision 2030 Implementation
     

    Saudi Arabia’s powerful Council of Economic and Development Affairs (CEDA) approved a Privatization Program that is one of 12 key elements of the Kingdom’s Vision 2030, according to reports. Saudi Arabia aims to generate 35 billion to 40 billion riyals ($9 billion to $11 billion) in non-oil revenues from the privatization program by 2020 and create […]

     
  • 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 […]

     
  • 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 […]

     
  • Catholic Cardinal meets Saudi king in Historic Visit to Riyadh
     

    Saudi Arabia’s King Salman has met French cardinal Jean-Louis Tauran during the first visit to the Kingdom by such a senior Catholic authority, according to the SPA. The move follows other overtures by Saudi Arabia’s leadership in recent weeks to other faiths, and a visit by Lebanon’s Christian Maronite Patriarch Beshara al-Rai in November. Interfaith dialogue has been […]

     
  • New Era of Cinema Begins Tomorrow with Soft Opening of First Theatre
     

    Saudi Arabia is set to have a soft opening for a new movie theatre tomorrow in what is the beginning of a new era of cinema in the Kingdom, some three decades after the last theatre was shuttered. A private film screening tomorrow, a collaboration between the Saudi Development and Investment Entertainment Company (DEIC), which is […]

     
  • Arab Leaders Gather in Dhahran to Unite on Regional Challenges
     

    Arab leaders gathered in Dhahran this weekend for the 29th session of the Arab Summit, held for the first time at the recently-opened King Abdulaziz International Cultural Center in Dhahran. The group called on Sunday for an international probe into the “criminal” use of chemical weapons in Syria and condemned what it saw as Iran’s […]

     
  • Saudi Aramco Earned $33.8 billion in the first half of 2017, Has ‘Virtually No Debts’, Data Reviewed by Bloomberg Says
     

    A first glimpse at Saudi Aramco’s finances by Bloomberg News reveals the state oil giant made a whopping $33.8 billion in net income in the first half of 2017 and has very little debt, according to a series of stories published by the news site. The figures have previously only been seen by top Saudi leadership and […]

     
  • 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 […]

     

MUST-READS

  • The Misk Art Institute’s Next Exhibition Looks Into The Universality Of Identity

    The Misk Art Institute (MAI) is gearing up to present ‘Here, Now.” The exhibition will run from October 3, 2021 – January 15, 2022 at Prince Faisal bin Fahd Arts Hall in Riyadh and online via the leading non-profit cultural institution’s website. As well as featuring works by Saudi talents, the exhibition curated by British critic and writer Sacha Craddock, working in close partnership with MAI’s assistant curators Alia Ahmad Al Saud and Nora Algosaibi, will showcase pieces by international artists. The variety of media on show will include paintings, textiles, sculptures, immersive installations and digital works, offering visitors an opportunity to reflect on notions of the self in relation to location and society.

  • Gates’s Firm Buys Part of Saudi Billionaire’s Four Seasons Stake

    Bill Gates’s investment firm will pay Saudi Arabian billionaire Prince Alwaleed bin Talal $2.2 billion to raise its stake in Four Seasons Holding Co. Cascade Investment LLC will buy a 23.75% stake from Kingdom Holding Co, valuing the business at a $10 billion enterprise value. As part of the all-cash deal, Cascade’s stake will increase to 71.25%.

  • Strategic Partnership to Export Saudi Non-Oil Products

    In a move set to boost Saudi Arabia’s non-oil exports, the Saudi Export-Import Bank (EXIM) signed an agreement with the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), to launch a special insurance product that helps Saudi banks provide more credit facilities for the export of Saudi non-oil products, and enable them to increase their ability to enhance letter of credit received from foreign banks for the benefit of Saudi exporters.

  • The Kabul Airlift in 5 Charts

    The largest emergency airlift ever handled by the U.S. military started slowly and built to a torrent.

  • The Taliban’s return has plunged the Middle East into uncharted waters

    Both routes -- military polarization and increased diplomacy -- are already being trial ballooned. When Israel and the UAE made their covert relationship official last year, they embarked on a whirlwind honeymoon that blindsided most observers. The agreement has seen them cooperate broadly and apparently intensively on technology and, potentially, on security.

  • Beyond Oil – What Can The Middle East Offer To European Startups?

    Just another deal, you might think. But there is a bigger picture here. Abu Dhabi is currently seeking to position itself as a magnet for overseas companies, including startups from Europe and the United Kingdom. To do so, it is offering a range of incentives to attract suitable candidates.

  • Clinicy, the startup that wants to save over $580 million in Saudi health losses

    Among Saudi Arabia’s ambitious goals to transform its economy is to invest in the development of its healthcare industry – and a local health technology startup is taking advantage of it. Clinicy provides a healthcare management system for bookings, appointments, and patient communication, and claims to be the only startup to offer the proprietary digital platform.

  • Saudi Arabia Forges Partnerships to Establish Local Aerospace Industry

    Saudi regulatory authorities announced their approval of joint ventures in the aviation structure manufacturing sector, which will seek to establish the first local industry for aviation structures in the Kingdom. The General Authority for Competition announced its approval of two joint projects for the manufacture of aviation metal structures and metal castings products in Saudi Arabia, bringing the total number of joint projects approved by the Authority to 10 since the beginning of 2021.

  • Leaded gasoline is now banned everywhere on Earth

    The announcement concludes a two-decade campaign by the UN to end global consumption of leaded gasoline in cars and trucks, emissions from which are linked to cancer, heart disease, stroke, decreasing cognitive function, and other health problems, as well as air and water pollution. UNEP estimates that the phaseout will prevent more than 1.2 million premature deaths annually.

  • Generation Start-up: how this Saudi company is helping farmers cut water use

    For a company that started out as a way for two researchers from the King Abdullah University of Science and Technology, or Kaust, to apply their research, Red Sea Farms has come a long way. Earlier this month, the Saudi Arabia-based agriculture technology start-up raised a total of $16 million from an enviable roster of investors. But ask its chief executive Ryan Lefers and he admits that it was not always easy for him and his co-founder Mark Tester to approach investors with their basic premise – to use salt water in agriculture.