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  • Saudi Arabia’s Defense Industry Seeking Local Assembly Of Helos

    During the World Defense Show here, both Leonardo and Turkish Aerospace signed agreements with Saudi entities on Feb. 4 to explore the potential of assembling aircraft for the domestic market. Fellow OEM Airbus Helicopters signed a similar agreement during last year’s Paris Air Show with Scopa, a Saudi defense company establishing agreements with Western defense companies.

  • Saudi Arabia: no Israel ties without recognition of Palestinian state

    Saudi Arabia has told the United States it will not open diplomatic relations with Israel unless an independent Palestinian state is recognised on 1967 borders with East Jerusalem as its capital, its foreign ministry said on Wednesday. Riyadh reiterated its call for permanent members of the U.N. Security Council that have not recognised a Palestinian state on the 1967 borders with East Jerusalem as its capital to do so, a ministry statement said.

  • Iran at Saudi Defense Show Signals Warmer Ties in Time of War

    Iranian military officials attended the World Defense Show in Saudi Arabia this week, a sign that ties remain cordial between the two despite the ripple effects of the Israel-Hamas war across the region. A delegation from Tehran met with Saudi Arabia’s Chief of General Staff, Fayyadh al-Ruwaili, during the event, Iran’s semi-official Mehr news agency reported. It’s likely the first trip of its kind since the two traditional foes agreed to restore relations almost a year ago.

  • Saudi Arabia plans 250k new hotel rooms by 2030, says minister of tourism

    “The quality of the rooms and projects is very excellent and will place the Kingdom among the best in the world. The target for 2030 is approximately 550,000 hotel rooms,” the minister said, adding: “Today, we continue to reach 10 percent contribution to the gross domestic product, and we have reached 7 percent contribution to the non-oil GDP.”

  • McKinsey and BCG warn staff face jail if they reveal Saudi work

    The heads of consulting giants McKinsey and BCG told US lawmakers on Tuesday that their employees in Saudi Arabia could face jail if the firms handed over details of their work for the country’s sovereign wealth fund without approval from the kingdom. Bob Sternfels of McKinsey and Rich Lesser of BCG had been summoned to appear before Congress, along with the chief executive of smaller consultancy Teneo and the dealmaker Michael Klein, after the four firms failed to comply with a subpoena demanding information about their work for the $700bn Public Investment Fund.

  • Big Oil’s Boring Quarter Was Great News for Investors

    Big Oil has delivered a set of remarkable earnings. Without fanfare, ExxonMobil Corp., Chevron Corp. and Shell Plc all did in the fourth quarter what they’d promised: Start new oil and gas projects; cut costs; return lots of money to shareholders. It’s a model for the notoriously boom-and-bust industry. Together, the three companies at the top of the global energy industry returned more than $80 billion to shareholders last year, up from $78 billion in 2022 despite lower oil and gas prices, lower refining margins and fewer trading opportunities.

  • Commentary: Going after UNRWA is a charade the world must reject

    Ten days ago, Israel began circulating accusations that 12 employees of the UN Relief and Works Agency (UNRWA) in Gaza had involvement in the Hamas-led attack on southern Israel on October 7. This led to a crisis of indispensable, largely western, funding for this crucial humanitarian services provider for Palestinian refugees, especially in Gaza, where a large majority are refugees from what has become southern Israel. But this latest campaign is just part of a decades-long attack on the agency by Israel, which is itself just a subset of the broader campaign to eliminate the Palestinian refugee issue by eliminating Palestinian refugees as an internationally monitored and protected group.

  • Pakistanis’ Discontent Reaches Record High Before Election

    Ahead of the election on Thursday, Gallup surveys show that Pakistanis are more discouraged than they have been in decades about a multitude of economic, political and security challenges that are threatening their country’s stability. The country’s failing economy will likely be central to the vote, although it is far from the only issue on the electorate’s minds. In late 2023, Pakistanis were more pessimistic about their economy than they have been at any point in the past 18 years that Gallup has polled them. A record-high 70% said economic conditions where they live are getting worse.

  • LIV Golf had a big opportunity Sunday. Did it take advantage?

    The PGA Tour’s final round was pushed off due to some truly gnarly weather conditions at Pebble Beach, giving LIV’s first event of the 2024 season the full stage. And it was Jon Rahm’s first event as a LIV golfer, with Rahm in contention for the win at Mayakoba, Mexico. As much money as LIV has spent to get off the ground and fill its 54-man roster, sometimes luck still brings the greatest chances you’ll get.

  • Blinken meets MBS in Saudi Arabia as U.S. pushes for post-war deal

    During his previous visit to Israel last month, Blinken told Israeli leaders that Saudi Arabia wants to normalize relations with Israel after the Gaza war ends, but it won't agree to any deal if the Israeli government doesn't commit to the principle of a two-state solution.