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  • Deputy Crown Prince Mohammed bin Salman Back in U.S. for Defense, Anti-ISIS Talks
     

    Deputy Crown Prince Mohammed bin Salman arrived in the United States for a second time in as many months this week for a defense ministerial meeting of nations involved in the effort to counter the self-described ISIS in Iraq and Syria, held at Joint Base Andrews, Maryland. Coalition partners taking part in the meeting “are looking for […]

     
  • Pokemon GO Banned in Saudi Arabia; 3 Arrested at Jeddah Airport – Report
     

    Pokemon GO, the viral video game phenomenon that has taken the U.S. and other markets around the world by storm, has been banned in Saudi Arabia, according to a report in the Evening Standard which cited the Arabic-language newspaper Almowaten. Pokemon GO is a game available on smartphones that allows users to catch different characters […]

     
  • New Saudi Fund Created by Apicorp and Bahri Seeks to Create Biggest Tanker Fleet
     

    A venture between Arab Petroleum Investment Corporation (Apicorp) and National Shipping Co. of Saudi Arabia (Bahri) “will create the world’s largest fleet of oil tankers and support the kingdom’s plan to boost crude exports,” according to a report in Bloomberg, which cited comments from Dr. Khalid al-Falih. The venture will create a $1.5 billion fund […]

     
  • ’28 Pages’ Released: Once-Classified Section of 9/11 Report Made Public; Saudi FM Al-Jubeir Says Matter Now ‘Finished’
     

    The U.S. Congress on Friday released a long-classified section of the official report on the Sept. 11 attacks that described potential potential links between some of the hijackers and officials in Saudi Arabia. Saudi Arabia’s foreign minister said on Friday he welcomed the release of this “28 pages” of the official report. “The matter is […]

     
  • ‘Saudi Arabia is among our closest counterterrorism partners’ CIA Chief Brennan Says
     

    Director of the CIA John Brennan said that Saudi Arabia is “among our closest counterterrorism partners” at an event at the Brookings Institution yesterday. Brennan pointed to the enemies that both the United States and Saudi Arabia share, including the Islamic State and al-Qaeda terrorists. “The Saudi government and leadership today has inherited a history whereby there […]

     
  • Construction Begins on ‘World’s Largest’ Gas Complex in Jazan, Saudi Arabia
     

    Construction has begun on a $2.1 billion industrial gas complex in Jazan, Saudi Arabia, which is slated to become the largest such facility in the world. The industrial gas complex will serve Saudi Aramco’s Jazan refinery and terminal when complete, and will require 600MW to operate, according to a report in Gulf Business. The contract for the […]

     
  • WTO launches new World Trade Outlook Indicator
     

    The World Trade Organization (WTO) has launched a new World Trade Outlook Indicator (WTOI) designed to provide “real time” information on trends in global trade, the organization said on its website. The WTOI was unveiled in Shanghai, China on July 8th ahead of a meeting of G20 trade ministers. “Combining a variety of trade-related indices, the […]

     
  • Millions Worldwide Celebrate Eid Al-Fitr, End of the holy month of Ramadan
     

    Millions of Muslims worldwide celebrated the festival at the end of the holy month of Ramadan on Wednesday as the three-day Eid al-Fitr festival began. Eid al-Fitr festival traditionally means family gatherings and the exchange of gifts and a feast after a month of fasting from dawn until dusk. Despite two deadly terrorist attacks in […]

     
  • G.E., Aramco Ventures Pump $52m into Boston-Area 3D Printing Startup
     

    General Electric Ventures and Saudi Aramco Ventures have led an investment of $52m in total funding into a Boston-based 3D printing device company, Desktop Metal. Desktop Metal aims to bring “an everyday-use metal 3D printing solution to the workspace of every engineering team,” according to CEO Ric Fulop. Boston Business Journal reports that the investment from […]

     
  • Ramadan Must-Watch TV: ‘Selfie 2’
     

    Ramadan in Saudi Arabia is more than a month of fasting and personal reflection.  It is a communal up-ending of one’s normal schedule with work, school and every facet of daily life rearranged in order to fulfill one of the five main pillars of Islam while also coming through this trial healthy and whole. Saudi […]

     

MUST-READS

  • Report: Atlanta United sells Pity Martinez to Saudi club

    The move has yet to be made official by United. It remains unknown what the sale price was but an Argentine journalist reports that Al-Nassr submitted an $18 million bid for Martinez.

  • Saudi Arabia’s SABIC issues $1 billion in two-part bonds

    Saudi Basic Industries Corp (SABIC), the world’s fourth-biggest petrochemicals firm, sold $1 billion in dual-tranche bonds on Thursday, as Gulf debt markets pick up after the summer break. SABIC sold $500 million of 10-year bonds and $500 million of 30-year Formosa bonds, a document issued by one of the banks leading the deal and seen by Reuters showed.

  • Saudi Exchange Plans to Start Single-Stock Futures Next Year

    Saudi Arabia’s stock exchange plans to introduce futures contract in single stocks in the first half of next year, according to its chief executive officer. The start of derivatives market will also help accelerate plans for an offering of shares in the bourse Khalid Abdullah Al Hussan said in an interview to Bloomberg TV. Index futures started to trade in the exchange on Aug. 30.

  • Culinary Arts Commission to provide world-class training to groom Saudi chefs

    Mayada Badr, the CEO of the Culinary Arts Commission, said that the authority is striving to see Saudi chefs gain world-class expertise by providing them training from international organizations and bodies specialized in culinary arts. Speaking to the Saudi Press Agency, she said that the commission has a database of more than 100 Saudi professionals in the culinary arts and is developing this by working with professionals in this field.

  • SABIC posts highest quarterly losses of Saudi petrochem sector

    Combined losses of SAR 2.4 billion were achieved by Saudi listed petrochemical companies during the second quarter (Q2) of 2020 amid tumbling oil prices and setbacks from the coronavirus pandemic. This is compared to profits of SAR 3.38 billion generated in the year-ago quarter, according to data collected by Mubasher based on the companies’ financial results disclosed to the Saudi Stock Exchange (Tadawul).

  • Coronavirus pushes Saudi transport sector to $70.58mln quarterly loss

    The coronavirus crisis and its repercussions have led the Saudi transport sector to suffer SAR 264.7 million worth of losses during the second quarter (Q2) of 2020 amidst halt and suspension of most flights as part of the preventive measures imposed to stop the widespread of the novel disease. This is comparable to a profit of SAR 180.4 million in the year-ago quarter, according to data collected by Mubasher based on the companies’ financial results disclosed to the Saudi bourse.

  • Saudi clothing retailer Alhokair posts quarterly loss after store closures amid pandemic

    The temporary closure of its retail outlets to comply with government COVID-19 restrictions pushed Saudi Arabia’s Fawaz Abdulaziz Alhokair Co. into the red for the three months ending June 30. Alhokair posted a 67.392% drop in sales to 564.9 million riyals ($150.64 million) for its first quarter (its financial year starts April 1) compared to 1.7324 billion riyals in the same three months last year. The company that owns the franchise for fashion brands like Zara and La Senza as well as the café Costa reported a net loss of 535.6 million riyals ($142.83 million).

  • Strangers to strategic partners: Thirty years of Sino-Saudi relations

    This year marks the thirtieth anniversary of diplomatic relations between China and Saudi Arabia. Over the past three decades, the bilateral relationship has transitioned from one of marginal importance for both countries to a comprehensive strategic partnership, largely on the back of a trade relationship founded on energy.

  • Saudi Arabia: Female participant makes history in kingdom’s first cycling championship

    Ten Saudi women have participated for the first time in the kingdom’s cycling championship which was held this week in Abha in southern Saudi Arabia.

  • Pompeo tours Middle East as part of Trump’s Arab-Israeli push

    Pompeo will be followed to many of these destinations by Jared Kushner, President Donald Trump's senior adviser and son-in-law, according to reports citing diplomats. Officials said stops in Oman and Qatar are also possible.