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  • Saudi Arabia Launches $13b ‘Quality of Life 2020’ Program to Promote Entertainment, Health, and Sports
     

    At a ceremony in Riyadh yesterday, the Kingdom unveiled its plans to spend 50 billion riyals ($13.33 billion) by 2020 on a new ‘Quality of Life 2020’ initiative to promote entertainment, health, sports and education as part of a modernizing drive by Crown Prince Mohammed bin Salman, according to Reuters. The program, which aims to generate 300,000 […]

     
  • Following Audit, Saudi Aramco Reserves ‘Higher than Expected’
     

    An audit of Saudi Aramco’s oil reserves done ahead of a planned IPO has found the state oil giant “to have higher reserves than it previously reported,” Reuters reports, citing sources familiar with the matter. Saudi Arabia’s oil, which is easily recoverable from the ground compared with shale sources found in the United States and […]

     
  • Saudi King, Crown Prince Attend Groundbreaking Ceremony for Qiddiya, Saudi Arabia’s Answer to Disneyworld
     

    Saudi Arabia’s King Salman and Crown Prince Mohammed bin Salman attended the opening ceremony this week of the Kingdom’s massive forthcoming entertainment city, Qiddiya, on the outskirts of Riyadh this weekend. Qiddiya represents another major investment in expanding social outlets for Saudis backed by Saudi Arabia’s PIF. The entertainment city sits 40km from downtown Riyadh and […]

     
  • Will Saudi Arabia Send Troops to Syria? Foreign Minister Adel Al-Jubeir Says Talks with U.S. Ongoing
     

    Saudi Arabia’s Foreign Minister Adel Al-Jubeir said it is “in discussions with the United States about sending troops to Syria,” according to the Washington Post, as President Trump seeks a way out for the U.S. military there. In comments to reporters in Riyadh, Al-Jubeir said the deliberations on what type of force needs to remain in […]

     
  • 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 Arabia’s Swings for Fences With ‘Bold, Risky’ Solar Bet
     

    Saudi Arabia and SoftBank signed a MOU to build a $200 billion solar power project this week in New York, dwarfing all other existing or planned projects in the world and placing the Kingdom and its 3,000 hours of sunshine a year into a global leadership position in the renewable energy field. The project, unveiled in New York this week […]

     
  • Crown Prince Mohammed bin Salman Visits UK on Wednesday with Billions in Deals Eyed
     

    Saudi Arabia’s Crown Prince Mohammed bin Salman will arrive to the United Kingdom on Wednesday, his second stop in a multi-national tour with a broad economic and diplomatic agenda. The Crown Prince is due to meet Prime Minister Theresa May and other senior ministers, members of the royal family, as well as security officials and […]

     
  • VAT, Fuel Price Reforms Cause Bump in Saudi Inflation
     

    Inflation rose in Saudi Arabia in January 2018 by 3 percent year-on-year, and 3.9 percent month-on-month “largely as a result of the implementation of VAT and utility and fuel price reform during the month,” Riyadh-based Jadwa Investment confirmed in a research note. The data is based on official Saudi figures released by the government. The figures suggested […]

     
  • King Salman Replaces Top Military Commanders in Cabinet Shuffle
     

    Saudi Arabia has replaced some of its top military officers by royal decree, elevating a younger generation as the war in Yemen approaches its fourth year without a victory. No reason was given for the changes, according to Bloomberg and the Financial Times. King Salman appointed First Lieutenant General Fayyad bin Hamed al-Ruwayli as chief […]

     
  • Major Leap for Saudi Economy as Kingdom Set to Introduce Bankruptcy Laws
     

    Saudi Arabia’s cabinet has approved a bankruptcy law that is likely to be a boost to the Kingdom’s efforts to attract investment and provide protection for entrepreneurs, according to reports. King Salman has reportedly endorsed the new law. As Reuters reports, modern bankruptcy legislation does not currently exist in Saudi Arabia, which creates difficulties for struggling companies seeking to restructure […]

     

MUST-READS

  • Saudi Arabia announces successful bidders for 3.7GW solar projects

    The Saudi Power Procurement Company (SPPC) has unveiled the qualified bidders for the fifth round of 3.7GW solar projects under the National Renewable Energy Programme (NREP) in Saudi Arabia, including several major renewables developers. In an announcement published by the Saudi Press Agency, the SPPC announced that Masdar, EDF Renouvelables, Itochu Corporation, Total Energies Renewables, and Saudi Electricity Company were among the companies that won bids.

  • Saudi Arabia poised for new Aramco share sale -sources

    Saudi Arabia is poised to sell more shares of energy giant Aramco, three people familiar with the matter said, which could boost the country's funding and its aim to wean the economy away from oil. The government has lined up Citigroup, Goldman Sachs and HSBC for the sale, one of the people said, which could take place in the second or third quarter of this year, a second person said. The share sale could raise about $20 billion, according to Bloomberg, which first reported the news.

  • From robots to gliding bombs, Saudi Arabia showcases growing domestic defence trade

    “Even for college now we have new different streams for women, developing their talents and making them ready to work in the military industry,” Khawlah Alshmmari, vice president of human resources at the National Company for Mechanical Systems, told The National. NCMS has a large stand at the expo, showcasing everything from the high-tech weaponry – the unmanned armoured vehicle turret the Moreb 30, which can carry 30mm or 40mm canons that rapidly fire explosive shells – to less advanced but essential items including artillery shells currently in a large global demand.

  • Rystad Energy Analyzes Saudi Arabia’s Pause in Oil Capacity Expansion Amid Market Uncertainty: Implications for Offshore Projects and Supply Stability

    Saudi Aramco’s focus on offshore oil and gas expansion projects, including the Dammam and Berri, Marjan, and Zuluf developments, underscores its commitment to meeting production targets. However, the revised mandate necessitates a reevaluation of future investments, with potential implications for projects like Safaniya and Manifa. The decision also has implications for the composition of Saudi Arabia’s oil mix, as increased offshore volumes are expected to lead to a greater share of heavy grades. This shift underscores the importance of offshore expansion to maintain the country’s overall production levels.

  • The Race to Make This Dying U.S. Lake the ‘Saudi Arabia of Lithium’

    California’s toxic Salton Sea has enough lithium to make the U.S. self-sufficient in the mineral, which is a key component of rechargeable batteries. WSJ explores the tech being developed to extract it—and what it means for the future of domestic production

  • Exploring the unseen: Desert X AlUla uncovers beauty of Saudi Arabia’s desert canvas

    Contemporary art finds a gallery amid the dunes of Saudi Arabia’s ancient city as Desert X AlUla returns to the Kingdom for its third edition on Friday. Running until March 23, the event will feature 15 commissioned artworks exhibited under the curatorial vision of Maya El Khalil and Marcello Dantas, with artistic direction from Raneem Farsi and Neville Wakefield.

  • Biden says Gaza fighting ‘over the top,’ pushing for a pause

    U.S. President Joe Biden on Thursday suggested that Israel's military response in Gaza has been "over the top" and said he is seeking a "sustained pause in the fighting" to help ailing Palestinian civilians. "I'm of the view, as you know, that the conduct of the response in the Gaza Strip has been over the top," Biden told reporters at the White House. He added that he has been pushing for a deal to normalize Saudi Arabia-Israel relations, increased humanitarian aid for Palestinian civilians and a temporary pause in fighting to allow the release of hostages taken by Hamas. "I'm pushing very hard now to deal with this hostage ceasefire," Biden said. "There are a lot of innocent people who are starving, a lot of innocent people who are in trouble and dying, and it's gotta stop."

  • Houthi negotiator says Red Sea attacks won’t deter Yemeni peace, praises Saudi ‘brothers’

    Mohammed Abdulsalam, chief negotiator and spokesperson of the Houthis, says that the recent meeting of the Sanaa delegation with Saudi Arabia officials has “resulted in overcoming the most important obstacles facing the roadmap” to peace. These solutions were in line with those championed by the UN envoy to Yemen, Hans Grundberg, said Abdulsalam in a wide-ranging interview with Asharq Al-Awsat on Thursday. Abdulsalam had previously called Saudi Arabia officials his “brothers” in a statement to Asharq Al-Awsat in January. He did so again on Thursday, and answered questions about peace initiatives, attacks in the Red Sea and regional and international relations.

  • The Undertaker Attends Soccer Game In Saudi Arabia, Presents Riyadh Season Cup Trophy

    One WWE Hall of Famer who will definitely not be participating in this evening’s WrestleMania 40 Kickoff press conference is The Undertaker. The Deadman made a surprise appearance in Saudi Arabia earlier today at the soccer game between Al-Hilal and Al-Nassr. The Undertaker presented the winners of the game with the Riyadh Season Cup Trophy. Al-Hilal won the game 2 to 0.

  • NPR: Why Saudi Arabia is building a new city in the desert

    For decades, Saudi Arabia's economy has been defined by its abundant oil reserves. Its ability to influence global oil supply propelled Saudi Arabia to one of the richest countries in the world. The Saudi royal family became important players on the world stage. However, waning dominance in the oil market is forcing the Saudi government to think differently about its reliance on the commodity. Today on the show, we explain Saudi Arabia's fantastical vision for its future and how the government is using its present influence in the oil market to fund it.