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  • Tourists to KSA spend over $37b in 2023
     

    The Ministry of Tourism released it’s annual tourism statistics report for 2023 this week reflecting significant growth in tourist numbers and spending.

     
  • Saudi Arabia’s Capex Super Cycle – Goldman Sachs
     

    In its informative August 14, 2024 Briefing Insight entitled “Only a quarter of Saudi Arabia’s $1 trillion capex plan will go into oil” Goldman Sachs’ analyst team examines the Kingdom’s projected capital expense spending to 2030.

     
  • Saudi Arabia leads GCC IPO momentum in Q2 2024
     

    In Q2 2024, the GCC witnessed a significant uptick in IPO activity, with 13 listings raising a combined $2.64 billion. This surge in capital was primarily focused on the healthcare, education, and technology sectors.

     
  • Calligraffiti – Saudi Artist Ahmed Al-Sulaimani
     

    Saudi artist Ahmed Al-Sulaimani is making a name for himself blending Arabic calligraphy and graffiti-inspired techniques and was recently featured in an Arab News report.

     
  • Saudi Arabia Updates Investment Law
     

    Building on previously announced reforms under Vision 2030 and the National Investment Strategy, the Cabinet has approved an updated investment law for Saudi Arabia. The updated law brings together several existing freedoms and rights and expressly applies them to investors under one unified framework, providing investors with greater transparency, flexibility and confidence.

     
  • Prince Mohammed bin Salman Royal Reserve
    • August 9,2024
    • •
     

    Covering 24,500 KM2, the Prince Mohammed Bin Salman Royal Reserve is located south of Neom in northwestern Saudi Arabia. It covers 1% of Saudi Arabia’s terrestrial area and 1.8% of its marine area, it is home to over 50% of the Kingdom’s marine and terrestrial species.

     
  • Halo Space Preparing For Saudi Arabian Stratospheric Test Flight
     

    Spanish company HALO Space is developing a new form of space travel called stratospheric ballooning. This involves using a large helium-filled balloon to carry a pressurized capsule carrying passengers up to the stratosphere, which is about 35 kilometers 922 miles) above the Earth’s surface.

     
  • Saudi Arabia announces Labor Law amendments to improve work environment
     

    The Ministry of Human Resources and Social Development said the new amendments encompass 38 articles, deleting seven articles, and adding two new articles to the Labor Law. The new amendments will be effective after 180 days from the date of their publication in the official Gazette.

     
  • Chinese Language Instruction in KSA
    • August 6,2024
    • •
     

    During Saudi Crown Prince Mohammed bin Salman’s State Visit to China in February 2019 Saudi Arabia and China agreed to include the Chinese language as a curriculum at all stages of education in schools and universities across the Kingdom.

     
  • Saudi Solar Power capacity picking up speed
     

    GlobalData predicts that, at its current pace, Saudi Arabia’s renewable power capacity could increase at a compound annual growth rate (CAGR) of 40.1% between 2023 and 2030, to reach 31.5 GW by 2030 and 63.1 GW by 2035. 

     

MUST-READS

  • Turkey-Bahrain Relations Getting Back on Track, as Erdogan Set to Visit Manama

    Two old regional partners forge ahead with renewed diplomatic, economic, and security ties, putting frictions related to Qatar boycott in the rearview mirror.

  • Why African countries are lining up to buy Turkey’s weapons

    "Turkey's defence equipment exports to Africa are completely unprecedented in terms of quantity, quality, value, and reach," Dr Ali Bakir, a non-resident senior fellow at The Atlantic Council and assistant professor at the Ibn Khaldon Center at Qatar University, told Middle East Eye. "This reality should not be separated from the rise of Ankara's influence in the continent and its strategy to strengthen the political, economic, and security ties with several African countries."

  • Over 240,000 Afghan refugees deported from Iran and Turkey

    More than 240,000 Afghan refugees have been deported from Iran and Turkey since the start of the year, according to Turkish and Afghan officials. Authorities in Afghanistan’s southwestern province of Nimroz, which shares borders with both Iran and Pakistan, told local media that nearly 190,000 Afghans have been deported by Tehran in the last six months alone. Afghans deported from Iran are sent by road back to either Nimroz, a largely desert province that has become one of the nation’s most prominent smuggling hubs, or Herat, a commercial and cultural centre.

  • Turkey appoints new envoy to Israel after four-year gap 

    Turkey has appointed an ambassador to Israel after a gap of four years in the latest step towards normalizing ties with the Jewish state. Sakir Ozkan Torunlar, a veteran diplomat who had served as Turkey’s consul general in Jerusalem between 2010 and 2014, was named to the post in a presidential decree late Friday, Turkish media reported.

  • Turkey blames deadly bomb on Kurdish militants; PKK denies involvement

    urkey blamed Kurdish militants on Monday for an explosion that killed six people in Istanbul and police detained 47 people including a Syrian woman suspected of planting the bomb, but the Kurdistan Workers Party (PKK) denied involvement. No group has claimed responsibility so far for Sunday's blast on the busy pedestrian Istiklal Avenue, left 81 people wounded, sending debris flying into the air and hundreds of shoppers, tourists and families fleeing the scene.

  • Turkey, Middle East nations feel the pain of US interest rate hikes

    The combination of the local currency losing its value at the same time as the US dollar is gaining strength has led to imports becoming more expensive. “The total amount of the money spent on imports increased a lot because of this currency depreciation,” Çakmaklı said. Even if products are meant for domestic consumption, many of them require foreign goods to produce, meaning they ultimately will bear a higher price tag for Turkish consumers and increase the trade deficit.

  • Official: 3 dead, 32 hurt in bus accident in northern Turkey

    A bus accident Sunday in northern Turkey left three people dead and 32 others injured, Turkey's health minister said. A passenger bus from the private Kamil Koc bus company overturned on a major highway by Bolu province. Minister Fahrettin Koca said the 32 injured included two in serious condition.

  • Turkey Under Pressure to Ratify Sweden and Finland’s NATO Membership

    The West is putting pressure on Turkey to ratify Finland and Sweden’s accession to NATO as Turkish officials signal they still want the two Nordic countries to do more to clamp down on alleged Kurdish militants. NATO Secretary-General Jens Stoltenberg is scheduled to hold talks with President Recep Tayyip Erdogan in Istanbul on Friday as part of an effort to urge the Turkish government to give final approval to the two countries joining the alliance.

  • Saudi-Turkey trade relations deepen as Turkish contractor wins Jeddah air base work 

    Trade relations between Saudi Arabia and Turkey have further deepened with Turkish contractor Yuksel handed a $12 billion contract at the King Abdullah Air Base in Jeddah. The year-long project consists of site work for a future Life Support Area, Munition Storage Area and Air Defense Artillery for the US Army Corps of Engineers’ Transatlantic Middle East District, according to MEED. The contract is the latest deal secured by a Turkish contractor in Saudi Arabia after an unofficial embargo was lifted following rekindled diplomatic ties between Riyadh and Ankara.

  • Turkey seeks Saudi partnership cooperation as it plans to be an energy hub to Europe, minister tells Arab News

    “Turkey from its geographical position is an energy corridor from Russia, Iran, and Saudi Arabia. Any kind of natural gas or oil that is going to be transported or shipped, will cost less and will be more safely shipped,” Nureddin Nebati told Arab News in an interview.