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  • Government Tender Regulations
    Saudi Arabia Introduces New Government Tendering Regulations to Support Vision 2030

    The Saudi Arabian government recently announced the new Government Tenders and Procurement Law (GTPL) after a series of public consultations dating back to 2017. The new GTPL replaces the last version of the GTPL issued in 2006. The Implementing Regulation is expected to be published within the next four months.

  • Facebook
    Facebook says it dismantles covert influence campaign tied to Saudi government

    Facebook has made at least 14 public announcements about takedowns of “inauthentic behavior” stemming from 17 different countries this year. The most recent announcement before Thursday included accounts run by people in Thailand, Russia, Ukraine and Honduras.

  • Banking and Finance
    Saudi government studying law to license other stock exchange operators

    Saudi Arabia is studying regulations to license new stock market operators, a potential first step to privatising its state-run bourse as Riyadh moves to wean the economy off oil, Maaal financial website reported on Thursday. The kingdom has introduced a raft of reforms in recent years to make its stock market attractive to foreign investors and issuers.

  • Jamal Khashoggi
    U.N. report: Saudi government responsible for Khashoggi death

    There is "sufficient credible evidence" Saudi Arabia's crown prince bears responsibility for the murder of journalist Jamal Khashoggi, and he should be investigated for it, a United Nations special rapporteur said in the first independent investigation into the death.

  • Saudi Investment
    Saudi investments in US government bonds peak to $170bn in March

    The PIF, along with the General Organisation for Social Insurance (Gosi), the kingdom’s pension fund, are focused on investments in US bonds. Although Saudi Arabia’s official foreign reserves have declined since 2014, when a three-year oil price slump jolted economies of oil exporting nations, the kingdom’s holdings of US government bonds peaked in March this year.

  • Art Auction
    Saudi government sells off art to fund Jeddah museum

    In a rare move for the Saudi Arabian government, the Ministry of Culture will collaborate for the first time with art auctioneer Christie’s to sell dozens of contemporary Saudi artworks at a charity sale on 26 June.

  • Economy
    Analysis: How big a deficit should the Saudi Arabian government run?

    Saudi Arabia is planning on operating a fiscal deficit of approximately $35 billion (just over five percent of GDP) for the year 2019. Once it has issued the debt required for funding this deficit, Saudi Arabia’s public debt should rise to around 22 percent of GDP. This low figure means that the government has the option of running an even larger fiscal deficit. Conversely, it could choose to tighten its belt aggressively and balance its budget well in advance of its 2023 target. Which option is best?

  • Uber
    Uber’s biggest investors include SoftBank, Google, and the Saudi Arabian government

    In the 10 years since its inception, Uber has found support among some of the world’s biggest backers, with outsized pockets to match. Its largest shareholder is SoftBank (SB Cayman 2), which invested $9.3 billion of its Vision Fund in the company last year.

  • Agriculture
    Saudi Government’s Agriculture Investor Buys Australian Farmland

    The purchase of Baladjie Pty Ltd., which also owns 40,000 merino sheep, in Western Australia’s wheat belt is the company’s first investment in the country and in sheep production, Salic, as the company is known, said in a statement.

  • Saudi-Germany
    Merkel’s Government Extends Saudi Arms Embargo Until September

    German Chancellor Angela Merkel’s government extended a weapons embargo on Saudi Arabia for six months, resolving a dispute in the ruling coalition over European defense projects.