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  • Saudi Private Sector Growth hits 11 Month High as Economy Adjusts to Reforms
     

    Saudi Arabia’s non-oil private sector grew at its fastest rate for 11 months in November, Reuters reports, citing a monthly survey of companies. The positive private sector growth figure is “a sign that the economy may finally be recovering from austerity measures” imposed at the start of 2018 as part of the Kingdom’s economic reform plans, which […]

     
  • Saudi Aramco Aims to Invest $150b to Become Gas Exporter – CEO
     

    Saudi Aramco’s gas expansion strategy needs $150 billion (117.55 billion pounds) worth of investments over the next decade as the company plans to increase output and become an exporter, Reuters reports, citing CEO Amin Nasser’s comments at an industry event in Dubai. Aramco is pushing ahead with its conventional and unconventional gas exploration and production program […]

     
  • S&P says Gulf countries need to raise $300 billion by 2021 – Report
     

    Gulf Cooperation Council (GCC) countries will need to raise about $300 billion between 2018 and 2021, with Saudi Arabia having the largest financing requirements, according to rating agency S&P as reported in Reuters. According to a Reuters report, the S&P expects 70 percent of the $300 billion of combined funding needs to be raised through debt […]

     
  • Blackstone Establishes Energy Investment Vehicle for MENA Region
     

    Blackstone, the world’s largest buyout group with over $15 billion of equity globally with the energy industry has established Zarou, a company designed to develop, finance, construct and operate energy-related projects in the MENA region. According to the Financial Times, Blackstone will team with Sameh Shenouda, former head of infrastructure equity investments at the UK’s development finance […]

     
  • Saudi oil production rises in August after surprise July drop
     

    Saudi Arabia’s crude oil production rose again in August following a surprise drop in production in July, according to reports. The Kingdom’s crude oil production in August rose to 10.424 million barrels per day compared to 10.288 million bpd in July, an OPEC source told Reuters. In June, Bloomberg reported that Saudi Arabia was planning to pump “a record […]

     
  • 2.3 Million Attend Hajj in Saudi Arabia
     

    An estimated 2.3 million pilgrims reassembled in Mina on Tuesday in celebration of the Eid Al-Adha with the rest of the Islamic world, as part of the annual Hajj pilgrimage, a 5-day journey to the holy city of Mecca in Saudi Arabia. The pilgrimage represents one of the five pillars of Islam and is required of all able-bodied […]

     
  • 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 […]

     
  • In Win for Saudis, OPEC Agrees On ‘Modest’ Increase in Oil Production
     

    The Organization of the Petroleum Exporting Countries (OPEC) agreed on Friday on a modest increase in oil production from July, Reuters reports, after its de-facto leader Saudi Arabia “persuaded arch-rival Iran to cooperate” amid calls from major consumers to help reduce the price of crude and avoid a supply shortage. The increase followed days of […]

     
  • Saudi Ministry of Justice Announces Launch of Alimony Fund ‘Modeled on UK’s Child Maintenance Service’
     

    Saudi Arabia’s Ministry of Justice is planning to launch an alimony fund similar to the United Kingdom’s Child Maintenance Service in an attempt to “empower mothers and provide sustainable living and support, for them and their children,” the Ministry said in a press release. The alimony fund is dedicated to women who are divorced and facing difficulty […]

     
  • Design Released for Saudi Arabia’s New Global Business School in Jeddah
     

    Renderings of the forthcoming Global Business School in Jeddah have been published online, depicting a massive building that will serve as a modern campus for the educational institution in Saudi Arabia’s second largest city. The new business school, which will have both Saudi and international students, is expected to open in 2020 and will operate […]

     

MUST-READS

  • US welcomes Saudi FM’s visit to Ukraine, aid package

    The US has welcomed Saudi Arabia’s announcement the Kingdom will provide $400 million worth of humanitarian aid to Ukraine, the White House’s national security spokesman John Kirby said on Monday.

  • Saudi Arabia will supply Ukraine with aid worth $400 million Head of President’s Office

    "Ukraine will receive real aid from Saudi Arabia, which is considered the most powerful economy of the Middle East. Within the framework of the visit, two documents were signed in the President’s Office, which formalised supplying Ukraine with a $400,000,000 aid package: $100,000,000 worth of humanitarian aid and $300,000,000 worth of oil products.

  • Saudi Arabia will supply Ukraine with aid worth $400 million

    "Ukraine will receive real aid from Saudi Arabia, which is considered the most powerful economy of the Middle East. Within the framework of the visit, two documents were signed in the President’s Office, which formalised supplying Ukraine with a $400,000,000 aid package: $100,000,000 worth of humanitarian aid and $300,000,000 worth of oil products.

  • Saudi Arabia Votes in Favor of UNGA Resolution Calling for Russia to Withdraw from Ukraine

    The Kingdom of Saudi Arabia has voted today in favor of a United Nations General Assembly resolution that calls for Russia to end hostilities in Ukraine and calls for the withdrawal of its forces. Last October, the Kingdom voted for the United Nations General Assembly resolution against the annexation of four Ukrainian regions, and before that in March, Saudi Arabia voted in support of the United Nations General Assembly Resolution that supported international law, the UN charter, and the sovereignty and territorial integrity of states, including Ukraine.

  • Arab states support UN resolution condemning Russia’s invasion of Ukraine

    A UN resolution condemning Russia’s invasion of Ukraine was adopted on Thursday, with an overwhelming majority of member states voting to call for the Kremlin to withdraw its troops immediately. Ahead of the one-year anniversary of Russia’s war on Ukraine, 141 UN members voted in favor of the resolution, which calls for an immediate end to Moscow’s hostilities. Seven countries opposed the resolution, with 32 others abstaining, including China, India, Pakistan and Ethiopia.

  • One year into the Ukraine war, US fails to get Middle East allies to take sides

    “It has been clear since the start of the Russian invasion a year ago that America’s regional partners in the Middle East… were not going to take sides or get involved in the great power competition and strategic rivalry that has taken on a harder edge since 2022,” said Kristian Ulrichsen, a political scientist at Rice University’s Baker Institute in Houston, Texas.

  • BAE Systems forecasts more growth on Ukraine conflict boost

    BAE Systems (BAES.L), Britain's biggest defence company, said earnings would rise again this year after jumping last year, as Russia's invasion of Ukraine continues to drive military spend higher. Demand for weapons, ammunition and military equipment has soared as Britain, the United States and other allies support Ukraine and look to shore up their own stocks due to the Ukraine conflict, which will mark its first anniversary on Friday. "We expect continued momentum in the medium to long term as governments replenish stocks, recapitalise equipment and support allies," BAE Chief Executive Charles Woodburn said in an interview.

  • Putin delivers a nuclear warning to the West over Ukraine

    Russian President Vladimir Putin on Tuesday delivered a nuclear warning to the West over Ukraine, suspending a landmark nuclear arms control treaty, announcing new strategic systems had been put on combat duty and warning that Moscow could resume nuclear tests. Speaking nearly a year to the day since ordering an invasion that has triggered the biggest confrontation with the West since the 1962 Cuban Missile crisis, Putin said Russia would achieve its war aims and accused the West of trying to destroy Russia.

  • Ukraine war spurs European demand for U.S. arms, but not big-ticket items

    European demand for U.S. weaponry is soaring, but instead of big-ticket items like jets and tanks, shopping lists are focused on cheaper, less-sophisticated items such as shoulder-fired missiles, artillery, and drones that have proven critical to Ukraine's war efforts. Countries close to Russia like Poland, Finland and Germany are striking deals to build U.S. weapons in Europe, negotiating new deals to buy arms and looking to speed up existing contracts, according to interviews with military officials and industry executives, and a Reuters review of recent announcements by governments and defense manufacturers.

  • Ukraine: lessons for war in the Middle East and Taiwan

    The tanks and trench warfare in Ukraine may seem old-school, but US experts say the conflict has provided strategic insights into future possible conflicts from the Middle East to Taiwan. They range from the mundane -- the need for bigger weapons stockpiles -- to the high-tech, with Ukraine a proving ground for artificial intelligence and robotic warfare.