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  • Saudi Arabia Looks to Overhaul Billions in Government Projects, Report Says
     

    Saudi Arabia’s government is ordering its ministries and agencies to review billions of dollars’ worth of unfinished infrastructure and economic development projects “with a view to shelving or restructuring them,” a report in Reuters said, citing government sources. According to the report, Riyadh’s Bureau of Capital and Operational Spending Rationalization, set up last year to make […]

     
  • In First, Full Japanese Orchestra Performs in Riyadh
     

    For the first time, a Japanese orchestra has played a live performance in Saudi Arabia’s capital, the latest step forward for Saudi culture and prospects for greater entertainment options for Saudi citizens. Minister of Culture and Information Adel Al-Toraifi opened the first Japanese full orchestra concert in Saudi Arabia on Thursday night at King Fahad […]

     
  • Tadawul Announces Update on Progress To Reforms
     

    Saudi Arabia’s stock exchange, the Tadawul, today provided in a press release “an update of its progress across a range of far-reaching capital market reforms to enhance efficiency, corporate governance, and transparency.” The reforms are part of the Exchange’s efforts to further align Saudi capital market with international standards and make it more attractive to […]

     
  • Event Announcement: Vision 2030: One Year into Saudi Arabia’s Economic Reforms – A Discussion with Saudi Minister of Commerce Dr. Majed Al-Qassabi
     

    Saudi Arabia’s ambitious Vision 2030 plan to reform the Kingdom’s economy was introduced almost one-year ago on April 26th, 2016. While it may take years or even decades to accurately measure the program’s successes and shortcomings, it is not too early to assess early progress with the critical initiative. Vision 2030: One Year into Saudi Arabia’s Economic […]

     
  • Saudi Finance Minister Mohammed Al-Jadaan: No Income Tax for Saudi Citizens, No Company Profit Taxes
     

    Saudi citizens would not pay taxes on income and Saudi companies would not see their profits taxed with economic reforms being introduced in the Kingdom, Saudi Arabia’s finance minister Dr. Mohammed Al-Jadaan said on Sunday, Reuters reports. Reuters reports that Al-Jadaan sought in a statement carried by state news agency SPA to “allay concern” that […]

     
  • Saudi Arabia Praises Trump Airstrike Punishment of Syria Chemical Attack
     

    Saudi Arabia said on Friday it “fully supports” U.S. strikes on military targets in Syria, saying it was a “courageous decision” by President Donald Trump in response to the use of chemical weapons against civilians. The United States had fired nearly 60 Tomahawk missiles at a military airfield in Syria, the first direct military action […]

     
  • Saudi Economic Data for February Paints Another ‘Mixed Picture’
     

    Saudi Arabia’s economic data for the month of February 2017 showed a mixed picture for the Kingdom, with foreign reserves falling to $514 billion in February, the lowest since August 2011. The latest Jadwa Investment monthly chartbook for February finds cash withdrawals from ATMs and POS transactions showed a downward trend, but non-oil PMI was […]

     
  • Saudi-American Healthcare Forum Set for April 23-26, 2017 in Riyadh
     

    Under the patronage of H.E. Dr. Tawfiq bin Fawzan Al Rabiah, Saudi Arabia’s Minister of Health, organizers of the upcoming Saudi-American Healthcare Forum seek to build on the momentum established by previous events. The event, with the theme of Mapping the 2030 Transformation of the KSA Healthcare Sector: “The Road to Privatization,” will take place at the Ritz Carlton Riyadh […]

     
  • In Shift from Obama, Trump to Host Egypt’s President Sisi at the White House for Lengthy Lunch Meeting
     

    Egypt’s strongman president Abdul Fattah al-Sisi will visit the White House for the first time since he led the military’s overthrow of his predecessor in 2013, marking a shift in U.S. policy under President Obama who never invited him to the White House. President Trump “wants to use President Sisi’s visit to reboot the bilateral relationship and […]

     
  • Moody’s Says Saudi Fiscal Position is Strong, Eyes Oil Dependency as Key Credit Challenge
     

    Bond credit rating agency Moody’s Investors Service said Saudi Arabia’s fiscal position remains strong at the A1 rating level, but said that reducing the Kingdom’s high oil dependency is the key credit challenge the country faces. Moody’s said that while the government has announced ambitious and comprehensive reform plans with its Vision 2030 and National Transformation Plan, […]

     

MUST-READS

  • UN experts call on Saudi Arabia to halt imminent executions amid sharp rise

    United Nations human rights experts have called on Saudi Arabia to halt the planned executions of three foreign nationals, amid a significant spike in the Kingdom’s use of the death penalty in recent years. According to two UN Special Rapporteurs – Morris Tidball-Binz, the Special Rapporteur on extrajudicial, summary or arbitrary executions, and Alice Jill Edwards, the Special Rapporteur on torture – three Egyptians were executed by Saudi authorities on Tuesday this week, with two more Egyptian nationals and a Jordanian national due to be executed imminently. The reported upcoming death sentences come as the Kingdom’s executions this year have risen to over 300 people, a record increase in the penalty amid a general rise in the practice in recent years.

  • Saudi Arabia launches Milaf Cola, world’s first date-based soft drink

    Saudi Arabia recently launched a rather unusual cola, crafted not from corn syrup or cane sugar but from the nation’s most prized fruit—dates. Named Milaf Cola, the drink was developed by Thurath Al-Madina, a subsidiary of the Saudi Arabian Public Investment Fund, and launched at the Riyadh Date Festival by the company’s CEO, Bander Al-Qahtani, and the Saudi agriculture minister Abdulrahman Al-Fadley. The cola’s star ingredient are premium dates which are packed with fiber, antioxidants, and essential minerals such as magnesium and potassium, and are revered in the Middle East for their health benefits. Milaf Cola claims it contains no added sugar and is able to harness the superfood’s health benefits, positioning itself as a healthier alternative to conventional sodas without compromising on flavour.  

  • Aramco to develop CCS in Saudi Arabia

    Saudi Aramco has signed a shareholders’ agreement with Linde and SLB for development of a carbon capture and storage (CCS) hub in Jubail, the Eastern Province of the Kingdom of Saudi Arabia. Phase one of the new CCS hub is expected to capture and store up to 9 million metric tons/year of CO2 from three Aramco gas plants and other industrial sources. The captured CO2 will be transported through a pipeline network and stored below ground in a saline aquifer sink, the operator said in a release Dec. 4. Construction is expected to be completed by end-2027. Later phases could further expand capacity. The overall project is aimed at supporting Aramco's ambition to achieve net-zero Scope 1 and gas emissions across its wholly owned operated assets by 2050.

  • Saudi Arabia extends term of $3 bln deposit with Pakistan for another year

    Saudi Arabia has extended the term of a $3 billion deposit placed with Pakistan to support its economy for another year, Pakistan's central bank said on Thursday. The term of the deposit, which was maturing on Thursday, was initially signed with State Bank of Pakistan in 2021, and was subsequently rolled over in 2022 and 2023, the bank said.

  • Why Assad’s regime is collapsing so quickly

    A coalition of armed opposition factions has gone on the offensive in northern Syria, capturing some 250 cities, towns, and villages and more than doubling the territory under its control. Syria’s second-largest city of Aleppo was captured in 24 hours, as Syrian regime front lines collapsed one after the other. After nearly five years of territorial lines of control being frozen across the country, these are dramatic, game-changing developments.

  • French President Emmanuel Macron visits Saudi Arabia’s historic AlUla Valley

    French President Emmanuel Macron visited the historic AlUla Valley on Wednesday as part of his state visit to Saudi Arabia. Accompanied by the Minister of Foreign Affairs Prince Faisal bin Farhan, Macron began his tour at Hegra, the ancient Nabataean city known for its spectacular stone-carved landmarks, Saudi Press Agency reported. Hegra, also known as Mada’in Salih, was Saudi Arabia’s first UNESCO World Heritage Site. Macron was guided through the most prominent monuments and archaeological sites in the area.

  • The new ‘rivers’ of Saudi Arabia

    The giant pipelines that criss-cross the country to distribute the desalinated water have been recognised by Guinness World Records as the world’s largest water distribution system – with a total length of more than 14,000km. Indeed, so vast is the network that if all these giant pipelines were laid one after the other, they would roughly stretch from Saudi capital Riyadh, which lies in the centre of the country, to Guadalajara, in western Mexico. The total distribution network is more than 130,000km long, while the collection network stretches to over 50,000km in length, said Mr Al Abdulkarim.

  • Two-time Major champion Dustin Johnson announced as latest Golf Saudi ambassador

    Two-time PIF Saudi International powered by SoftBank Investment Advisers champion Dustin Johnson has today been announced as Golf Saudi’s newest high-profile ambassador – as the sixth edition of the $5million tournament entered its second day at Riyadh Golf Club. In his ambassadorial role, American Johnson – who won Golf Saudi’s landmark men’s event in both 2019 and 2021 and is competing in Riyadh this week – will help further drive the growth of golf within Saudi Arabia, working closely with country’s National Teams to deliver year-round lessons and coaching.

  • Cynthia Erivo, Will Smith, Michelle Yeoh, Emily Blunt Help Open Saudi Arabia’s Red Sea Film Festival

    The Red Sea International Film Festival has officially kicked off its fourth edition as A-listers and international auteurs converged in Jeddah’s old town of Al-Balad in Saudi Arabia’s second-largest city for a decidedly glamorous opening ceremony. Emily Blunt, Cynthia Erivo, Eva Longoria, Michelle Yeo, Michael Douglas and Catherine Zeta-Jones in a flowing blue sky gown and cape, Squid Game breakout Hoyeon, Michelle Rodriguez, Bollywood star Aamir Khan, competition jury president Spike Lee, action stars Will Smith and Vin Diesel, Kareena Kapoor, Saudi actor Khaled Yeslam and Daniel Dae Kim were among the global stars in lavish outfits at the opening gala on Thursday night. The glamorous event saw the stars converge on the main building of the city’s new Culture Square that mixes traditional architecture and modern technology. The site is being touted as “the new home of film” in Jeddah and Saudi Arabia.

  • Saudi trades in US equities reach 2-year high at $23.88B

    Saudi investors executed sell and buy transactions on US equities totaling SAR 89.7 billion, reflecting an increase of approximately SAR 47.1 billion, or 111% year-on-year (YoY), the highest level in two years. Trading by Saudis in US stocks jumped by 53%, or SAR 31.1 billion, compared to SAR 58.6 billion in Q2 2024. The CMA report on the trading value of local authorized brokers in the global markets does not include either details of the number of Saudi portfolios abroad, the number of investors trading directly through foreign brokers, or their trading volumes.