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  • Saudi, Kuwait, UAE Agree to Give Bahrain $10b
     

    Saudi Arabia, Kuwait and the United Arab Emirates have agreed to give Bahrain $10 billion to “support the country’s funding requirements,” Reuters reports, as Bahrain embarks on a fiscal program aimed at eliminating its budget deficit by 2022. The move by Saudi Arabia, Kuwait and the UAE “makes sense economically” because “any collapse of Bahrain’s currency […]

     
  • Saudi National Day Becomes Global Celebration
     

    Buildings in Saudi Arabia and around the world were colored in the Saudi national color of green as millions celebrated the Kingdom’s 88th national day. The Burj Khalifa in the UAE was illuminated with the Saudi flag last night, while the Nasdaq Tower’s electronic billboard in New York’s Times Square was lit up with photos of […]

     
  • Saudi Arabia’s SABIC Gets Green Light to Buy 24.99% stake in Clariant, Creates Joint Venture
     

    Saudi Arabia’s SABIC has received a green light to go ahead with its planned acquisition of 24.99% of Swiss chemical company Clariant, and is now proceeding with a new joint venture with the company, according to the Wall Street Journal. SABIC will pay $2.5 billion for the stake and “now the two companies are creating […]

     
  • Al-Falih Denies Reuters Report of Cancelled Saudi Aramco IPO
     

    Saudi Arabia is refuting a Reuters report yesterday that said the Kingdom was cancelling its planned IPO for Saudi Aramco, according to comments made by the Kingdom’s minister of energy Khalid Al-Falih. “The Government remains committed to the IPO of Saudi Aramco at a time of its own choosing when conditions are optimum,” Al-Falih said. […]

     
  • Report: Top Tech Companies Remove Accounts Related to Anti-Saudi ‘Iranian Propaganda Operation’
     

    Facebook, Twitter, and Alphabet collectively removed hundreds of accounts tied to an alleged Iranian propaganda operation on Tuesday, while Facebook took down a second campaign it said was linked to Russia, according to a Reuters report. Facebook Chief Executive Mark Zuckerberg said the accounts identified on his company’s platform were part of two separate campaigns, […]

     
  • Saudi’s SAMA Warns Against Cryptocurrencies
     

    The Saudi government has outlawed using and trading in Bitcoin, citing the high risk and negative consequences in the cryptocurrency. Saudi Arabia’s Monetary Agency (SAMA) warned against trading in digital currencies for “their negative consequences and high risks on traders as they are out of government supervision.” SAMA continued that cyptocurrencies like Bitcoin “are illegal in the kingdom […]

     
  • Conflicting Reports on PIF Interest in Massive Tesla Stake
     

    Conflicting reports have surfaced on the interest level of Saudi Arabia’s sovereign wealth fund in purchasing a large stake in Tesla, which could enable the electric car company founded by Elon Musk to go private. Saudi Arabia’s Public Investment Fund (PIF) is “working to be part of any investor pool that emerges to take Tesla private,” Bloomberg News […]

     
  • Higher Oil Prices Push Saudi Quarterly Revenue Up 67%
     

    Saudi Arabia’s second-quarter budget revenue increased 67 percent from the year-earlier period, Bloomberg reports. Revenue climbed to 273.6 billion riyals ($73 billion), boosted by an 82 percent increase in oil revenue; non-oil revenue rose 42 percent to 89.4 billion riyals ($24 billion), while the budget deficit fell to 7.4 billion riyals ($2 billion), according to […]

     
  • Third Cinema Operating License Awarded in Saudi Arabia as Entertainment Sector Heats Up
     

    Saudi Arabia’s Minister of Information and Chairman of the General Authority for Audiovisual Media Dr. Awwad Al-Awad awarded the third cinema operation license to the Al-Rashed United Group — Empire Cinema as the Kingdom’s entertainment sector heats up. US giant AMC and Dubai-based Vox Cinemas received the first two licenses and have already opened theaters in April […]

     
  • Saudi Research and Marketing Group, UK-Based Independent Ink Media Deal
     

    Last week, the Saudi Research and Marketing Group (SRMG) and the UK-based Independent announced an exclusive licensing deal that will lead to the creation of four new online news services offering “the highest-quality, free-thinking, independent news, insight and analysis on global affairs and local events,” according to reports. SRMG, the middle east’s biggest publisher whose mastheads […]

     

MUST-READS

  • Here’s how Saudi travelers are picking where to go in 2025

    First, we heard from flight comparison website Skyscanner, revealing that the Kingdom's citizens and residents have their sights set on a wide range of destinations in 2025 including the Italian capital of Rome, Poland's Krakow, Montreal in Canada and Gan in the Maldives. The company also revealed that two Saudi destinations have ranked among the world's top places to go next year, with the UNESCO World Heritage site of AlUla in Saudi's northwest and the capital city of Riyadh recording surging search interest. When travelling with children, nearly three in four Saudis pick destinations that they wanted to visit in their own early years, while places to build lasting memories remain high on the travel agenda, along with those that offer out authentic local experiences.

  • Saudi: Over 6.3mln e-transactions processed via Absher in October

    Over 3.8 million transactions were completed via the Absher Individuals platform, including tasks like identity verification, electronic renewals of national ID cards, family registrations, and other related services, the Saudi Press Agency reported. The General Directorate of Passports managed tasks such as issuing exit and re-entry visas, residency permits, electronic passport renewals and issuances.

  • Saudi Startup Riyadh Air Gets Over 2,500 Slots At Riyadh Airport

    Filings by Airport Coordination Limited (ACL), a slot coordinator that manages over 75 airports in the world, have showed that Riyadh Air has received over 2,500 slots at Riyadh King Khalid International Airport (RUH). According to the slot coordinator’s initial coordination report, airlines had requested a total of 97,130 slots at the airport serving the Saudi Arabian capital, with ACL allocating only 38.7% of the newly requested landing and takeoff rights for the upcoming International Air Transport Association (IATA) summer season, which will begin on March 30, 2025. Nevertheless, with its slot portfolio, Riyadh Air became the fourth-largest airline at the airport, with 2% of the total allocated flight movements. SAUDIA, the flag carrier of Saudi Arabia, will have the largest share of movements, 50.9%.  

  • Opinion: Balancing on the Brink – Saudi Arabia’s Delicate Policy

    Although Saudi Arabia has spent years attempting to decrease its reliance on the strait—including through the construction of a 746-mile east-west crude oil pipeline, with a capacity of 5 million barrels per day, to bypass it—Saudi Arabia transports more crude oil and gas condensate through the Strait of Hormuz than any other country, according to tanker tracking data released by Vortexa. About 500,000 barrels per day were transited from Saudi ports in the Persian Gulf to Saudi ports in the Red Sea in 2022.

  • Saudi Arabia, China, Iran meet to advance Beijing Agreement

    The second meeting of the Saudi-Chinese-Iranian Joint Tripartite Committee to follow up on the Beijing Agreement was held in Riyadh on Tuesday, the Saudi Press Agency reported. Saudi Deputy Foreign Minister Waleed bin Abdulkarim Elkhereiji chaired the meeting, with Vice Foreign Minister of China Deng Li and Iran’s Deputy Foreign Minister for Political Affairs Majid Takht Ravanchi present. The Saudi and Iranian representatives reaffirmed their commitment to fully implementing the Beijing Agreement and strengthening neighborly relations through adherence to the UN Charter, the Charter of the Organization of Islamic Cooperation, and international law, emphasizing respect for sovereignty, independence, and security.

  • NDMC closes the November 2024 Issuance under the Saudi Arabian Government SAR-denominated Sukuk Program

    The National Debt Management Center announces the closure of November 2024 issuance under the Saudi Arabian Government SAR-denominated Sukuk Program. The Total Amount Allocated was set at SAR 3.415Bn (three billion and four hundred and fifteen million Saudi Riyals)

  • Saudi Arabia voices concern over extremist Israeli statements about West Bank sovereignty and settlements

    The Saudi Council of Ministers, chaired by Custodian of the Two Holy Mosques King Salman in Riyadh on Tuesday, reiterated its concern over the extremist Israeli statements about imposing sovereignty over the West Bank, and the construction and expansion of settlements. "These Israeli actions undermine peace efforts, threaten the region's security and stability, and represent a blatant violation of international laws and relevant UN resolutions," the Cabinet said. In a statement to the Saudi Press Agency following the session, Minister of Media Salman Al-Dossary said that the Cabinet strongly condemned the continued targeting of Palestinian civilians and relief and humanitarian agencies by the Israeli occupation forces, and called on the international community to fulfill its responsibilities vis-à-vis the continuous aggression faced by the Palestinian people.

  • Saudi’s SPPC signs PPAs for 9.2GW power projects

    The Saudi Power Procurement Company (SPPC) has signed power purchase agreements (PPAs) for five independent power producer (IPP) projects, including thermal and solar photovoltaic power projects, totalling 9.2GW.  The PPAs were signed with a consortium of Acwa Power, the Saudi Electricity Company (SEC) and the Korea Electric Power Corporation (KEPCO) for Rumah-1. The levelised cost of electricity (LCOE) is 4.5859 cents per kilowatt hour (kWh), while Nairyah-1’s LCOE is 4.6114 cents/kWh.

  • Saudi Arabia unveils designs for 2034 Fifa World Cup stadium: Video

    King Salman Stadium is to host 92,000 fans and will feature an indoor sports hall and an Olympic-sized pool.

  • Saudi foreign minister meets with US Secretary of State at Brazil G20

    Saudi Foreign Minister Prince Faisal bin Farhan met with US Secretary of State Antony Blinken on the sidelines of the G20 Summit in Rio de Janeiro, Brazil. During the meeting, they discussed bilateral relations, developments in the Middle East, and the efforts being made in these regards. The meeting was attended by the Director-General of the Office of the Foreign Minister Abdulrahman Aldawood.

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