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  • Saudi Arabia’s PIF, Japan’s Softbank Team Up to Create a Tech Investing Behemoth
     

    Saudi Arabia and Japan’s SoftBank Group will create a technology investment fund that could grow as large as $100 billion, making it one of the world’s largest private equity investors. Softbank is creating a new global tech investment fund, seeded with $25 billion of its own money. The fund, which will be London, UK based […]

     
  • Yemen’s Houthis Fire Another Missile into Saudi Arabia as Kingdom, Iran Spar at UN over War
     

    Saudi Arabia says it has shot down a ballistic missile fired into the Kingdom by Houthi rebels and their Iranian allies in the latest incident in Yemen’s civil war that has raged for nearly 19 months. The missile targeted the southwestern city of Khamis Mushait and was destroyed Tuesday night without causing any injuries, the Saudi Press […]

     
  • Saudi Arabia Switches to Gregorian Calendar
     

    Saudi Arabia has shifted to the Gregorian or “Western” calendar as a basis for paying civil servants as part of broader fiscal changes, according to reports. The kingdom adopted the lunar Islamic calendar when it was founded in 1932, but the change places its payment schedule in line with the West. It also brings civil […]

     
  • Saudi Arabia’s Foreign Ministry Criticizes JASTA, Congress Weighs Adjustment of Law
     

    Although the Congressional override of President Obama’s veto on the controversial Justice Against Sponsors of Terrorism Act (JASTA) was anticipated, it’s reality has proved shocking to U.S. leaders as well as countries globally.  Saudi Arabia’s foreign ministry has issued a statement strongly condemning the legislation and noted, as has been done frequently in the run-up […]

     
  • 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 […]

     

MUST-READS

  • Neom Is Becoming a Destination of Destinations

    There is little to suggest that the astonishing pace of development announcements at Saudi Arabia’s Neom will slow in 2024. Instead, Neom’s planners announced in January a luxury ecotourism retreat called Zardun as well as a “subterranean digitized community of the future,” dubbed Aquellum. On December 27, 2023, Neom unveiled Norlana – an exclusive “ultra-modern active lifestyle community.” The announcement of Utamo, an immersive destination for art and entertainment, on December 13, 2023 reflected yet another of Neom’s efforts to create a “truly unique experience” while simultaneously supporting sustainable development. Similar luxury, ecotourism locations within Neom – Leyja, Epicon, and Siranna – have emerged as conceptual projects in recent months. Also in December 2023, Neom launched a food company, Topian, which aims to foster “a vibrant community of scientists, industry experts and innovators,” and completed the ownership transfer and rebranding of Al Suqor Club to Neom Sports Club.

  • Opinion: The Next Global War

    The United States isn’t facing a formalized alliance of adversaries, as it once did during World War II. It probably won’t see a replay of a scenario in which autocratic powers conquer giant swaths of Eurasia and its littoral regions. Yet with wars in eastern Europe and the Middle East already raging, and ties between revisionist states becoming more pronounced, all it would take is a clash in the contested western Pacific to bring about another awful scenario—one in which intense, interrelated regional struggles overwhelm the international system and create a crisis of global security unlike anything since 1945.

  • The best things to experience in Saudi Arabia according to the people who know it

    Closed to tourists until recently, Saudi Arabia is still an unknown quantity for many would-be travelers.

    That’s changing fast. The country reported a 56% growth in international arrivals in 2023 from 2019 pre-pandemic levels, according to the UNWTO.

    So, where are some of the best places in this emerging tourism destination to go?

  • Perspective: Deciphering Blinken’s Unguarded Optimism

    No reputable analyst would doubt the need to end the bloody conflict in Gaza as soon as possible and to divert the attention of the warring parties to peaceful regional endeavors, for which Blinken called. But the rosy picture he depicted was quite surprising, to say the least, in light of the continued bloodletting in Gaza facilitated and supported, financially and militarily, by the Biden administration. The White House still refuses to call for a permanent halt to the fighting despite its daily perfunctory nod to the massive human toll on Palestinian civilians in Gaza.

  • Davos Dispatch: The case for optimism amid global upheaval

    Amid the geopolitical gloom that pervaded the World Economic Forum here this past week—with intractable wars in Europe and the Mideast and unsettling tensions in Asia—International Monetary Fund Managing Director Kristalina Georgieva made a case for optimism, quoting the legendary economist John Maynard Keynes. Georgieva reminded a select group of global political, business, and civil society leaders of Keynes’ words from a 1930 essay, written against the backdrop of the Great Depression, the rise of communism and fascism, and national and international despair (the meeting was off-record, but Georgieva approved this to be shared publicly):

  • Saudi Arabia launches National Biotechnology Strategy set to transform the Kingdom

    According to the official Vision 2030 website, the National Biotechnology Strategy will build on the Kingdom’s existing strengths, including access to robust capital, a large market, the government’s commitment, and a unique gene pool.

    These factors will advance Saudi Arabia’s capabilities across four strategic plays: vaccines, bio-manufacturing & localization, genomics, and plant optimization.

  • Saudi Arabia gears up for safe Hajj season with early security preparations

    Saudi transport authorities have urged private sector institutions involved in the annual Hajj pilgrimage to initiate early security measures for the upcoming season.
    The instructions to transport agencies primarily focus on the carrying any explosive substances. A strict prohibition on the use of such substances in Mecca and Medina has been mandated for a month-long period, spanning from the 20th of Dhul Qadah to the 20th of Dhul Hajjah, coinciding with the Hajj season, Saudi news website Akhbar24 said.

  • US Extends Lead Over China in Race for World’s Biggest Economy

    US gross domestic product rose 6.3% in nominal terms — that is, unadjusted for inflation — last year, outpacing China’s 4.6% gain. While some of the outperformance reflected America’s elevated price increases, the 2023 outturn underscores a broader point: The US economy is emerging from the pandemic period in a better place than China’s.

    “It is a striking turn of fortunes,” said Eswar Prasad, who once led the International Monetary Fund’s China team and is now at Cornell University. “The strong performance of the US economy, in tandem with all the short-term and long-term headwinds the Chinese economy is facing, renders it a less obvious proposition that China’s GDP will someday overtake that of the US.”

  • Biden to send CIA chief to advance new hostage release/extended pause deal

    The planned talks, to involve Burns as well as Israel Mossad chief David Barnea, Egyptian intelligence chief Abbas Kamal, and Qatari Prime Minister Mohammed bin Abdulrahman Al-Thani, are expected to be held in Europe. They come as Israeli media reported that a tentative agreement on the principles for a deal to release all the remaining hostages in exchange for an extended cessation of hostilities has been reached.

  • World Court says Israel must take steps to prevent acts of genocide in Gaza

    The World Court on Friday ordered Israel to take action to prevent acts of genocide as it wages war against Hamas militants in the Gaza Strip, but it stopped short of calling for an immediate ceasefire.
    Ruling on a case brought by South Africa, the court said Israel must ensure its forces did not commit genocide and take measures to improve the humanitarian situation for Palestinian civilians in the enclave.