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  • 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 […]

     
  • Ematah (Removal) Campaign Addresses Saudi Litter
     

    The ‘Crying Indian’ was one of the most iconic images on American television in the 1970s. Produced by the Keep America Beautiful organization it featured Iron Eyes Cody as a Native American distraught over the amount of pollution and litter there was in the United States. Litter was a significant issue in America at the […]

     
  • As Entertainment Industry Develops, A ‘Great Opportunity’ for Cinema Business Awaits in Saudi Arabia
     

    With Deputy Crown Prince Mohammed bin Salman’s recent visit to the United States that included meetings with several top entertainment industry executives in Silicon Valley, it is quite possible that entertainment options in Saudi Arabia could be dramatically greater in a decade. But what will that look like? The Vision 2030 document states that the Kingdom’s leaders “consider culture […]

     

MUST-READS

  • HRH Crown Prince launches ‘Alat’ to contribute in making Saudi Arabia a global hub for electronics and advanced industries

    Alat will focus on manufacturing products that serve local and international markets within seven key strategic business units: advanced industries and semiconductors, as well as smart appliances, smart health, smart devices and smart buildings, in addition to next generation infrastructure. The company, chaired by HRH Crown Prince, aims to enhance the capabilities of the Saudi technology sector, increase its contribution to local content – benefiting from the rapid development of this sector – increasing the nation’s attractiveness and its ability to create investment opportunities. Alat will also enable the private sector through its strategic partnerships with leading international players in manufacturing and technology, which will enhance the economic ecosystem locally and regionally.

  • Saudi anti-corruption body targets high-ranking officials in landmark multi-million riyal cases

    In a sweeping crackdown on corruption, the Saudi Oversight and Anti-Corruption Authority (Nazaha) has announced a series of arrests across various sectors on Wednesday. A former head of notary and his brother were arrested for misappropriating vast tracts of state-owned land, illegally profiting SR148 million from their sale. This case also involved a former judge and two employees who received SR10.25 million and SR5 million respectively for their roles in the scheme. In another major case, a former municipal employee was apprehended for accepting SR63 million from commercial entities in exchange for issuing 299 unauthorized supply orders, involving transactions exceeding SR171 million.

  • YouTube announces new podcast series focusing on Saudi youth

    Guests include influential members of the public and private sector in Saudi such as representatives from the Saudi Authority for Data and Artificial Intelligence (Dr. Raied Aljadaany), the Quality of Life Program (Ms. Noura Alyusuf) and private sector leaders in the creator economy (Kaswara Al-Khatib) and sports (Haya Sawan). Tarek Amin, YouTube’s Director in MENA, said: “YouTube is a reflection of what’s top of mind for Saudi youth thanks to our vibrant creator community in the Kingdom”

  • Four Indicators to Track Saudi Reform Progress

    Positive developments in four indicators during 2024 – the female labor force participation rate, tourist arrivals, foreign direct investment inflows, and student educational attainment – will give confidence that the bold diversification plans underway in Saudi Arabia are on track.

  • OPEC and Saudi spare oil production capacity

    Saudi Arabia currently holds spare capacity of 3 million barrels per day, a source with direct knowledge of the matter said, equal to about 2.9% of daily world demand according to Reuters calculations. The International Energy Agency estimates that OPEC's total spare capacity is 5.1 million bpd, of which 3.2 million bpd is held by Saudi Arabia, 1 million bpd by the UAE, 400,000 bpd by Iraq and 300,000 bpd by Kuwait.

  • Analysis: The transformative journey of Saudi Arabia’s exports

    Saudi Arabia's Vision 2030 represents a fundamental shift from traditional reliance on oil to building a more sustainable economic landscape. The analysis from GGC Consulting, which stretches a period of seven years, shows a significant 78% increase in non-oil exports, amounting to 137 billion Saudi Riyals. This growth corresponds with a 12% rise in the real gross domestic product (GDP) and an impressive 744% surge in the current account. According to the researchers, the developments demonstrate the dynamic interaction between economic growth, and that of exports and the current account.

  • Saudi Arabia and Its Biotechnology Strategy

    Like other branches of Vision 2030, the biotechnology strategy announced by the Crown Prince seeks to turn Saudi Arabia into a leading scientific capable of making major breakthroughs that change the way we think about humanity and our environment, in addition to allowing us to reach a high degree of self-sufficiency and leaving a positive social and economic impact. The plan is to build on 4 strategic pillars, starting with humanity... What about them?

  • Emerging Markets Navigate Global Interest Rate Volatility

    Global interest rates in recent months have gone on a rollercoaster, especially those on longer-term government bonds. Yields on 10-year US Treasuries are climbing again after pulling back from a 16-year high of 5 percent in October. Interest rate moves in other advanced economies had been equally prodigious. Emerging market economies, however, saw much milder rate moves. We take a longer-term perspective on this in our latest Global Financial Stability Report, demonstrating that the average sensitivity to US interest rates of 10-year sovereign yield of Latin American and Asian emerging markets declined by two-thirds and two-fifths, respectively, during the current monetary policy tightening cycle compared with the taper tantrum in 2013.

  • PGA Tour announces $3 billion investment by SSG, negotiations continue with PIF

    The PGA Tour has finalized a $3 billion deal with Strategic Sports Group (SSG), the Tour announced Wednesday. It held meetings with the PGA Tour Player Advisory Council as well as the larger membership of the PGA Tour, Korn Ferry Tour and Champions Tour to announce the news. PGA Tour commissioner Jay Monahan touted the deal as a win in a memo to the players. “By making PGA Tour members owners of their league, we strengthen the collective investment of our players in the success of the PGA Tour,” Monahan said. “Fans win when we all work to deliver the best in sports entertainment and return the focus to the incredible — and unmatched — competitive atmosphere created by our players, tournaments and partners.”

  • Iran’s Guards pull officers from Syria after Israeli strikes

    Iran's Revolutionary Guards have scaled back deployment of their senior officers in Syria due to a spate of deadly Israeli strikes and will rely more on allied Shi'ite militia to preserve their sway there, five sources familiar with the matter said. The Guards have suffered one of their most bruising spells in Syria since arriving a decade ago to aid President Bashar al-Assad in the Syrian war. Since December, Israeli strikes have killed more than half a dozen of their members, among them one of the Guards' top intelligence generals.