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  • Jadwa Investment Report Looks at ‘Significant Implications of Vision 2030 on Trade and Financial Flows’ for Saudi Arabia
     

    A recently released Jadwa Investment report researches the impact that Vision 2030 is likely to have on international trade and investment flows with Saudi Arabia. This report looks at the evolution of the current account for the period 2016-30, which is forecast to reach a surplus of $135 billion (8 percent of GDP) by 2030. “While oil export […]

     
  • Deputy Crown Prince Mohammed bin Salman Cracks Bloomberg’s 50 Most Influential in Finance
     

    Saudi Deputy Crown Prince Mohammed bin Salman has been ranked 42nd Bloomberg’s list of the 50 Most Influential People in the world of finance. Bloomberg said that the 31-year old prince has drawn up a plan to transform the world’s biggest crude exporter into a diversified economy fit for the next era, almost eight decades after […]

     
  • New Desalination Technology at KACST in Saudi Arabia ‘Opens Doors to Higher Worldwide Clean Water Sources’
     

    The first worldwide adsorption water desalination and cooling plant has been successfully implemented by King Abdulaziz City of Science and Technology (KACST) in August 2016, the university said in a press release, as the Kingdom continues to be a global leader in desalination technology. Adsorption Desalination and Cooling (ADC) is a newly invented technology, co-owned […]

     
  • President Obama to Veto JASTA Bill
     

    White House Press Secretary Josh Earnest said on Monday that U.S. President Barack Obama will veto the controversial Justice Against Sponsors of Terrorism Act (JASTA) passed by congress last week, setting up a showdown with Congress. Earnest reiterated the White House’s fear that the measure would expose U.S. citizens to legal action overseas if foreign countries pass […]

     
  • Hajj 2016 Begins: Millions Gather in Saudi Arabia
     

    An estimated two million pilgrims have converged in Saudi Arabia for the start of the annual Hajj pilgrimage today, lasting until Wednesday, September 13th. The hajj is one of the five pillars of Islam, which capable Muslims must perform at least once, marking the spiritual peak of their lives. Worshippers from more than 150 countries will embark on […]

     
  • U.S. House to Allow Vote on Controversial JASTA Bill This Week
     

    The U.S.  House of Representatives will vote this week on a bill allowing the families of 9/11 victims to sue Saudi Arabia in U.S. courts, a Republican leadership source told Politico Wednesday. The highly-politicized Justice Against Sponsors of Terrorism Act (JASTA) bill, which President Obama said would receive his veto should it make it to […]

     
  • Report: $20 Billion in Projects may be Canceled; Ministerial Budgets Squeezed as Saudis Adapt to Low Oil Prices
     

    A report in Bloomberg today said that Saudi Arabia is considering canceling more than $20 billion of projects in addition to making deep cuts to ministry budgets as the Kingdom takes austerity measures due to low oil prices. The budget cuts to some ministries could be as much as 25%, the Bloomberg report said.  Overall, the government is […]

     
  • Jadwa: Economic Data for July Shows ‘Mixed Picture’ for Saudi Economy
     

    Recently-released Jadwa Investment monthly chartbook data on the Saudi economy for July showed “a mixed picture in economic activity,” the Riyadh-based investment firm said, noting that data on point-of-sale transactions and ATM withdrawals showed a notable slowdown in July, while the non-oil PMI rose to a 2016 high. The Saudi unemployment rate rose slightly to 11.6 […]

     
  • Deputy Crown Prince to Promote Saudi Vision 2030 in Japan, China and at G20
     

    Saudi Deputy Crown Prince, Minister of Defense and head of the influential Council of Economic and Development Affairs, HRH Mohammed bin Salman, plans to visit China August 29-31 and Japan August 31-September 3. Prince Mohammed will then attend the Group of 20 Summit September 4-5 to be held in Hangzhou, China where he will be […]

     
  • John Kerry to Visit Saudi Arabia
     

    U.S. Secretary of State, John Kerry, will travel to Kenya, Nigeria and Saudi Arabia next week as part of a tour that is expected to focus on counter terrorism.  Secretary Kerry is expected to be in Jeddah on Wednesday, August 24th. AFP reports that Secretary Kerry will meet with his counterparts from the six-nation Gulf […]

     

MUST-READS

  • Real estate prices in Saudi Arabia to rise by 40%: Al Rajhi Investment exec

    Real estate prices in Saudi Arabia are likely to rise by 25% to 40% in the coming period, Asharq News reported, citing Sales Director at Al Rajhi Investment Co. Hossam Ahmed.   On the sidelines of the Real Estate Future Forum, Ahmed said that premium residency is a unique opportunity for the real estate market. It can contribute to the sector’s growth in the coming period by more than 300%.   The Kingdom is currently experiencing a real estate boom, as more than 50% of real estate traffic is concentrated in Riyadh.

  • Saudi Arabia’s Wealth Fund Joins EM Rush to Tap Bond Market

    Saudi Arabia’s sovereign wealth fund raised $5 billion of high-grade bonds on Monday, the latest borrower to benefit from investors’ demand for emerging-market debt.

    The Public Investment Fund sold five-, 10- and 30-year senior unsecured notes in US dollars, according to a person familiar with the matter. Combined order books were above $27 billion, excluding joint lead managers’ interest, said the person, who asked not to be identified because they’re not authorized to speak about it.

  • Newcastle reach agreement with Saudi Pro League side over Miguel Almiron transfer

    The deal is not done yet, though, but should it go through it would be a huge blow to Newcastle fans, with Almiron a big favourite at St James’ Park since his 2019 arrival from Atlanta United. The winger wrote himself into the club's folklore in October when he scored their first Champions League goal in two decades.

  • Inside the Iranian-Pakistani exchange of fire

    Islamabad and Tehran have each emphasized that only their own nationals have been targeted. Whether that is entirely true is another point of contention. Nonetheless, while the respective airstrikes have violated sovereignty, the lack of any local victims in the public realm provides a diplomatic off-ramp for both governments. Yet the incidents have caused a major crisis in the bilateral relationship—and raised questions about the true underlying motives involved.

  • ‘Israeli’ attacks on Quds Force challenge Iran’s deterrence strategy

    In another major attack on senior Iranian military officers in Syria, five members of the Islamic Revolutionary Guard Corps (IRGC) have been killed in suspected Israeli airstrikes. This comes barely a month after the most influential commander of the IRGC’s expeditionary Quds Force in the Levant lost his life in a similar incident. While Israel has long attacked Iranian positions in Syria, the recent string of brazen assassinations and the seniority of the targets have raised questions about Iran’s deterrence strategy.

  • Hapag-Lloyd to offer land transit through Saudi Arabia amid Red Sea disruption

    German shipping group Hapag-Lloyd (HLAG.DE), opens new tab will continue to route its vessels around the Cape of Good Hope until further notice due to Houthi attacks on vessels in the Red Sea, it said on Monday, after announcing it was introducing land corridors through Saudi Arabia to mitigate the impact on its business.
    "We continue to monitor and review the situation constantly. As soon as the situation changes, and it is safe again, we will route our vessels through Red Sea and Suez Canal," it said.

  • Nature’s Palette: Mohammad Alfaraj’s Art Captures the Spirit of Al-Ahsa

    Saudi filmmaker, storyteller, and installation artist Mohammad Alfaraj hails from the agricultural and industrial city of Al-Ahsa, a place that has shaped his creative practice both physically and conceptually. Mohammad’s artwork, often featuring fables with human and nonhuman characters, draws on local and regional histories to explore everyday life and environmental issues as well as to reflect on Saudi natural history. His multidisciplinary practice relies on found materials, such as palm fronds, sand, and dates, in a nod to the environmental pillars of his hometown.

  • Setting the Stage: The Vital Role of Private Art Institutions in Saudi Arabia

    Yet amid the present moment of grandiose state patronage that has led to a renaissance of sorts across the kingdom, at times the role of private art institutions has been overlooked. Prior to the present massive government investment in culture, these institutions – independent players such as Edge of Arabia, Athr, Hafez Gallery, and Art Jameel – played a vital role in the development of the Saudi art scene during a time when the state was largely not present in Saudi cultural enterprise.

  • Opinion: Is US-Israel disagreement on a two-state solution unresolvable?

    Last week, the penny finally dropped between the US and Israel. Israeli Prime Minister Benjamin Netanyahu owned up that he's been dissembling for decades, at least in English and in public, about being open to a two-state solution. He flatly ruled out any form of Palestinian statehood without offering an alternative addressing basic Palestinian human rights like citizenship. This has effectively been Israel's consistent policy, with a few notable hiccups, since the assassination in 1995 of former prime minister Yitzhak Rabin by an Israeli extremist.

  • Opinion: Why the United States Can’t Ignore the ICJ Case Against Israel

    The United States may want to maintain its certainty that Israel is not committing any grave human rights violations in Gaza by avoiding an assessment, but the ICJ case—which is supported by at least fifty countries, the Arab League, and the Organization of Islamic Cooperation—may force its hand, even if a decision on the case’s merits takes years. South Africa’s request for provisional relief, which includes a call for an immediate ceasefire and entry of humanitarian aid, may be only days away. The burden of proof required for provisional relief —“plausibility” that a violation of the Genocide Convention has occurred—is less than what is required for a final ruling.