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  • How Riyadh’s King Abdullah Financial District’s Future Has Shifted
     

    Riyadh’s unfinished King Abdullah Financial District (KAFD) located halfway between downtown Riyadh and King Fahd International Airport is headed for new ownership and a revised master plan. KAFD – the city within a city that was originally designed to be home to the Kingdom’s banks and international financial houses –  will soon be owned by […]

     
  • Graphic: Saudi Arabia Reshuffles Government Leaders, Modifies Ministries
     

    Saudi Arabia’s King Salman issued a Royal Order on Saturday, May 7th, 2016 making changes to the government structure and key leaders. The Royal Order follows the recently released ‘Vision 2030’ economic and development plan to transform the Saudi economy and society into the 21st Century. The full text of the changes as issued by […]

     
  • Ahead of ‘Vision 2030’, Saudi Arabia Tested Foreign Lending Appetite
     

    Ahead of Saudi Arabia’s landmark Vision 2030 announcement, the Kingdom tested its credit-worthiness from international lenders by raising $10 billion, despite downgrades by Moody’s and Standard & Poor’s (S&P) earlier this year.  Not only was Saudi Arabia able to easily raise the funding, the issuance was oversubscribed – so much so that the Kingdom increased […]

     
  • Difficult Times for the Saudi Binladin Group
     

    The Saudi Binladin Group (SBG) is facing its toughest challenges in the construction giant’s 85 years of operation as tightened government spending and a 8-month restriction on new projects in the pipeline has undermined the company’s finances. Saudi Binladen has announced a reduction in jobs totaling 77,000, or about one-third of its total workforce. “The […]

     
  • Jadwa Investment: ‘Vision 2030’ Plan May Help Saudi Avoid Significant Fiscal Deficit
     

    Jadwa Investment’s recently released economic analysis on Saudi Arabia’s ‘Vision 2030’ finds that Saudi Arabia’s new plan to move toward sustainability may help it avoid a looming fiscal crisis. Calling the plan “major and ambitious,” the Riyadh-based Jadwa looks at what might hypothetically happen if Saudi Arabia were to do nothing about the harsh fiscal […]

     
  • The 5 Major Changes Saudi Arabia’s Capital Markets Authority Made to Increase Foreign Investment in the Saudi Stock Market
     

    Saudi Arabia’s Capital Markets Authority (CMA) has significantly lowered the barriers to entering the Saudi stock market as a foreign investor and increased the amount which a foreigner may own of a Saudi company, the bourse announced in a release today.  “These rules were implemented with the aim of raising the bar in relation to investing […]

     
  • Mining in Focus for ‘Vision 2030’ as Ma’aden Appoints Health Minister Khalid al-Falih Chairman, Reshuffles Board
     

    Saudi Arabia’s ‘Vision 2030’ plan to diversify its economy identifies the mining and minerals sector as one of the top non-oil growth sectors for the Kingdom. Days after the Vision 2030 plan was announced the Saudi Public Investment Fund (PIF) reshuffled the board of the Saudi Arabian Mining Company – known as Ma’aden – and […]

     
  • Commentary: Saudi Arabia’s Vision 2030, Don’t Miss the Point
     

    While Saudi Arabia’s Vision 2030 was formally endorsed by the Saudi Council of Ministers and published on April 25, 2016, anticipation about the plan had been building for months.  McKinsey & Company’s 165-page Moving Saudi Arabia’s Economy Beyond Oil  in December 2015 confirmed the depth of the analysis underway within the Saudi government while Deputy […]

     
  • The 13 ‘Programs’ in Saudi Arabia’s Vision 2030
     

    Saudi Arabia’s Vision 2030 document, released on Monday April 25th, provides an ambitious roadmap for significant changes to the Kingdom’s economy and society over the next 15 years. The document highlights three general themes: a “vibrant society“, a “thriving economy“, and an “ambitious nation,” under which the document makes commitments to achieve progress on both […]

     
  • Graphic: Visualizing the Themes in Saudi Arabia’s ‘Vision 2030’ Roadmap
     

    Saudi Arabia’s recently released ‘Vision 2030’ provides the framework of ambitious plans to transform the Kingdom’s economy and society.  Additional details – especially in regard to the economy-focused National Transformation Program – will be released over the next 4-6 weeks. Drafted by the Council of Economic and Development Affairs on instructions from King Salman, the just-released document provides […]

     

MUST-READS

  • Saudi crown prince meets with Pakistani army chief in Riyadh

    Saudi Crown Prince Mohammed bin Salman received Pakistani Army Chief General Asim Munir in Riyadh on Wednesday, Saudi Press Agency reported. During the reception, Saudi-Pakistani relations and opportunities to develop them were reviewed. A number of issues of common interest were also discussed.

  • 19th Saudi Relief Plane Departs for Lebanon

    A 19th relief plane of the Saudi air bridge, operated by King Salman Humanitarian Aid and Relief Center (KSrelief), left King Khalid International Airport for Lebanon today, carrying food, shelter, and medical supplies.

  • Saudi Arabia approves cooperation agreement with US for the use of outer space for peaceful purposes

    The Cabinet session, chaired by Crown Prince and Prime Minister Mohammed bin Salman in Riyadh on Tuesday, approved a framework agreement for cooperation in the fields of air navigation and the exploration and use of airspace and outer space for peaceful purposes between Saudi Arabia and the United States of America. The Council also approved, in principle, the national general framework and guiding principles for foreign direct investment.

  • Saudis Plan $100 Billion AI Powerhouse to Rival UAE Tech Hub

    The state-backed entity will invest in data centers, startups and other infrastructure to develop artificial intelligence, the people said, asking not to be identified discussing plans that aren’t yet public. The initiative, called “Project Transcendence,” will also focus on recruiting new talent to the kingdom, developing the local ecosystem and encouraging tech companies to put resources in the country, they said. An AI hub being built by Saudi Arabia’s PIF and Alphabet Inc.’s Google may serve as the starting point for a broader initiative, the people said. The companies are planning to invest between $5 billion and $10 billion in the partnership, which will include work on creating Arabic language AI models, one person said. Alphabet shares gained 4% on Wednesday to $176.51.

  • Shortfalls in migrant workers’ insurance scheme highlight need for major reforms on eve of ILO labour complaint

    On 7 October Saudi Arabia announced the launch of an insurance scheme to protect migrant workers’ wages- the latest in a series of labour rights reforms over the past few years as part of the country’s Vision 2030 plan to diversify the economy. However, the scheme and other reforms still fail to offer sufficient protection to foreign workers from exploitation and abuse. The complaint lodged against Saudi Arabia by global trade union Building and Wood Workers’ International (BWI) relates to severe human rights abuses and wage theft involving 21,000 workers. BWI lodged its complaint to the ILO in June 2024. It will be heard on 7 November at the ILO Governing Body meeting, and if accepted, could create a committee to look into the complaints and produce a report recommending further action.

  • Arab leaders congratulate Trump but wonder if he can end Middle East wars as promised

    Arab leaders quickly congratulated Donald Trump on his U.S. presidential election victory. Some are hopeful he could bring an end to conflicts raging in the Middle East while others are looking for a stronger stance against Iran. Saudi Arabia’s King Salman and Crown Prince Mohammed bin Salman, United Arab Emirates leaders, and Qatar’s emir, Sheikh Tamim bin Hamad, all congratulated Donald Trump on his win, saying strengthening strategic partnerships is important.

  • Green Light for Energy: Egypt-Saudi Arabia Interconnection Project Moves Forward

    In recent years, Egypt has faced substantial electricity supply challenges, exacerbated by heat waves and gas shortages, which have led to persistent rolling blackouts across the country since July 2022. The strain on the electrical system has grown due to increased demand, particularly from widespread use of air conditioning in Egyptian cities. In spite of this challenge, Egypt is steadfast in its ambitious goal of generating 42 percent of its electricity from renewable sources by 2035. Cairo has not yet met this target. The state has invested heavily in hydropower along Egypt’s coast, and in by the end of 2022 hydropower accounted for 2,832 MW of Egypt’s 6,322 MW of renewable energy capacity, or around 45 percent. However, renewables still only account for a small portion of the overall electricity mix. Although Egypt’s potential for renewable energy is increasing—and it has developed extensive solar and wind programs in addition to hydropower—it has not yet attained the 42 percent goal, and does not appear likely to in the near future.

  • Commentary: Why Trump’s Middle East policy will go to the highest bidder

    Trump is widely seen in the Gulf as a man without a clear vision for the region. His regional policy will be determined by the two most powerful foreign policy lobbies in Washington: the pro-Israel lobby on one side and the Gulf lobbies on the other. The crucial question will be to what extent the Gulf lobby networks will be able to pull together to achieve a common position on key regional issues such as Palestine as well as Iran and its ‘Axis of Resistance’.

  • Apprehension in Iran as Trump returns to power

    Donald Trump’s political comeback has sparked a deluge of mostly negative reactions in Iran. Many in Tehran—including hardliners—have expressed resentment at his return to the White House. However, some view Trump’s victory as an opportunity for Reformist President Masoud Pezeshkian to engage with the US.

  • Saudi Tourism officially launches coastal super-destination

    The Saudi Red Sea represents a pioneering effort in sustainable coastal development, encompassing a pristine 1,800-kilometre stretch of virgin coastline. This launch presents an extraordinary opportunity for superyachts, featuring cutting-edge infrastructure, dive sites, luxury accommodations and untouched natural landscapes.  Red Sea Global, NEOM, Amaala, Jeddah Historical and KAEC were among the coastal destinations that were present on the stand.