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New Labor Data from Saudi Government Shows Surge in Women in Workforce, High Expat Labor
More and more women are joining the workforce in Saudi Arabia, official data show, as the Kingdom looks to increase female participation in the workforce as part of its Vision 2030 economic and social reforms. From 215,000 in 2012, the number of women in the private sector jumped to 496,000 in 2016, an average of […]
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Reports Former Crown Prince Confined to Palace ‘Baseless’, Official Tells Reuters
A senior Saudi official on Thursday denied as “baseless” a New York Times report that Prince Mohammed bin Nayef has been confined to his palace in Jeddah and barred from traveling abroad, according to a Reuters report. The original report in the New York Times cited four current and former American officials and Saudis “close […]
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Crown Prince Mohammed’s Promotion, MSCI Announcement Jolts Saudi Stock Market to Big Gains
Saudi Arabia’s stock market soared for a second straight day following two big storylines that are giving investors confidence: the promotion of Prince Mohammed bin Salman to first-in-line to be King of Saudi Arabia, and news that the Kingdom may be considered for MSCI Emerging Market index inclusion as soon as 2019. The announcement of […]
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U.S. Senate Scrutinizes Precision-Guided Arms Package for Saudis
A proposed sale of $500 million worth of U.S. precision-guided missiles to Saudi Arabia is coming under growing scrutiny from Congress, according to reports, as a key vote looms in the U.S. senate today. Foreign Policy magazine reports that the planned sale of munitions would replenish the kingdom’s depleted stocks after two years of daily bombing […]
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President Trump, King Salman Speak Amid Qatar Diplomatic Fallout
U.S. President Donald Trump spoke by phone with Saudi Arabia’s King Salman amid a growing crisis between GCC states over allegations that Qatar is funding terrorism and extremist activities. Saudi Arabia, the UAE, Egypt and three other states have cut diplomatic ties with Qatar, threatening a socio-economic crisis for what Saudi Arabia’s leaders only recently […]
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Goldman Sachs Applies to Saudi CMA for Equities Trading License in Saudi Arabia
Goldman Sachs has applied to Saudi Arabia’s capital markets regulator for a license to trade equities in the kingdom, two sources familiar with the move said, in the latest step by Western banks to expand operations in the country, Reuters reports. The bank has been operating in Saudi Arabia since 2009 as an agent and underwriter, […]
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Flurry of Business Activity in Riyadh as SoftBank To Launch $100 billion Fund during President Trump’s Visit, One of Many Deals Slated for Busy Weekend
Japan’s richest man and Softbank CEO Masayoshi Son will travel to Saudi Arabia and announce the close of the first fundraising round for what will be the world’s biggest private equity fund, backed by Saudi Arabia’s sovereign wealth fund and Apple Inc., according to a Reuters report. The expected launch of the $100 billion Vision Fund […]
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New Saudi Arms Manufacturer ‘SAMI’ Launched As Part of Vision 2030 Ahead of Trump Visit
Saudi Arabia’s Public Investment Fund (PIF) announced on Wednesday the launch of a national state company for arms manufacturing as part of its Vision 2030 economic and social reform program, according to reports. The new company, the Saudi Arabian Military Industries (SAMI), will be producing not just arms but armored vehicles and will work to repair […]
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Saudi Defense Ministry’s Ideological Warfare Center Combats ISIS’ False Narrative
Saudi Arabia has established an Ideological Warfare Center (IWC) to combat the narrative put forth by extremist groups like ISIS and Al-Qaeda, and to combat extremism at its ideological roots. The IWC is affiliated with the Saudi Ministry of Defense, run by Deputy Crown Prince Mohammed bin Salman, and officially aims to “confront the roots of extremism […]
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In Interview, Deputy Crown Prince Mohammed bin Salman Discusses Economic Reforms, Regional Challenges
Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman gave a wide-ranging interview with Saudi TV station MBC yesterday, discussing regional politics, the war in Yemen, the economy, Vision 2030, and Saudi Aramco’s planned IPO. The interview – given in Arabic – was widely broadcasted in the Kingdom and discussed on social media sites. It was his […]
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Netanyahu insists on Rafah offensive as warnings mount
Israel is facing growing international warnings over its planned offensive in Rafah - the city in southern Gaza crammed with Palestinian refugees. Prime Minister Benjamin Netanyahu said the Israeli military will go ahead with its planned ground offensive, insisting an evacuation plan is being prepared. UK Foreign Secretary David Cameron said "over half of Gaza's population are sheltering in the area". Saudi Arabia warned of "very serious repercussions" if Rafah was stormed.
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The Aging Bureaucrat Frustrating the West’s Plan for Gaza
Abbas has ruled the Palestinian Authority as leader of Fatah, its largest party, for almost two decades and hasn’t faced general elections since 2006. His poll ratings are on the floor, with 90% of Palestinians calling for his resignation and the authority he leads widely viewed as ineffective and corrupt. His insistence on staying in power is snarling plans for Gaza, where the U.S. and its Arab allies want the Palestinian Authority, which controls parts of the Israeli-occupied West Bank, to govern in place of Hamas after the war with Israel.
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Saudi art not seen for decades goes on display at AlUla’s Maraya
The modern era of Saudi art is somewhat ill-defined. A scarcity of studies and academic inquiries leaves a lot of blanks in the arc between Saudi modern and contemporary art. However, a new exhibition at AlUla’s Maraya seeks the help of private collectors to draw a thread from the 1950s onwards. More than Meets the Eye is running until April 27 alongside the AlUla Arts Festival. It comprises artworks that come exclusively from private collectors in Saudi Arabia, meaning that several pieces have never been displayed in public before.
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An Active Saudi Foreign Policy and a Broader Concept of Security in the Middle East
During the last eight years, Saudi foreign policy has adopted a broad concept of security that is not limited to just restoring stability and containing crises but goes beyond it to achieve development and prosperity for all peoples of the region because of the organic relationship between security and development, as the state of turmoil suffered by many countries in the region is due to the failure of development, widespread poverty, the state of despair and hopelessness.
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Saudi Arabia announces qualified bidders for 3.7GW solar projects
The four solar projects to be developed under this round are the 2GW Al Sadawi solar plant, to be situated in Saudi Arabia’s Eastern province, the 1GW Al Masa’a project to be located in Hail province, and the 400MW Al Henakiyah 2 and 300MW Rabigh 2 projects which will be located in Madinah and Makkah provinces respectively. The NREP’s objective is to increase the proportion of renewable energy in the country’s energy mix, with a target of 50% of its electricity from renewable sources by 2030.
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Saudi Space Agency Partners With LeoLabs and NorthStar for SSA
On the sidelines of the Space Debris Conference in Riyadh, the Saudi Space Agency signed memoranda of understanding (MoUs) with Leo Labs and NorthStar, respectively. The MoU with Leo Labs aims to build a cooperative relationship in the field of space monitoring. Both agreements aim to exchange expertise and knowledge related to space situational awareness and explore future collaboration opportunities between the Saudi Space Agency and both NorthStar and LeoLabs.
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Saudi Arabia’s newest Neom project forms rocky outcrop in the desert
More plans have been revealed for the massive upcoming Neom development which is currently remaking the Saudi Arabian landscape. Named Xaynor, this latest project will offer an ultra-exclusive club for well-heeled guests that takes the form of an unusual rocky outcrop. Xaynor will be located on the Gulf of Aqaba, on Saudi Arabia's Red Sea coastline, which is the same site as the recently unveiled Zardun and Epicon skyscrapers.
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Saudi Arabia Macroeconomic Boom: 8.7% GDP Growth, Vision 2030 & $7.6% Fiscal Surplus Fuel Transformation Journey
Saudi Arabia's macroeconomic landscape is experiencing a dynamic shift, fueled by surging oil prices, ambitious diversification efforts, and transformative Vision 2030 initiatives. Ken Research's "Saudi Arabia Macroeconomic Assessment" report paints a vibrant picture, highlighting key trends, opportunities, and challenges for businesses and investors. This press release delves into the report's insights, offering a snapshot of the Kingdom's evolving economic landscape.
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Major Gulf markets gain after Israel says it ‘concluded’ Gaza strikes
Major stock markets in the Gulf rose in early trade on Monday after Israel said it had "concluded" a series of strikes on southern Gaza. The Israeli military said on Monday it had conducted a "series of strikes" on southern Gaza that have now "concluded," days after Israeli Prime Minister Benjamin Netanyahu rejected a ceasefire proposal from Hamas.
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Saudi energy minister reveals why Aramco cut oil target by 1m bpd
Saudi Arabia’s minister of energy, Prince Abdulaziz bin Salman Al Saud, revealed Monday why state-oil company Aramco cut its oil output by 1 million barrels per day (bpd) at the end of last month. On Jan. 30, Aramco, the world's biggest corporate crude producer, announced that the Energy Ministry had ordered it to halt its oil expansion plan and set a minimum sustained production capacity of 12 million bpd, 1 million bpd below its target announced in 2020 to be reached in 2027.
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