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  • Full Transcript: Crown Prince Mohammed bin Salman’s Interview with CBS’ 60 Minutes
     

    Below is the full transcript from the CBS 60 Minutes interview with Saudi Arabia’s Crown Prince Mohammed bin Salman. *** Norah O’Donnell: Did you order the murder of Jamal Khashoggi? Crown Prince Mohammad bin Salman: Absolutely not. This was a heinous crime. But I take full responsibility as a leader in Saudi Arabia, especially since it […]

     
  • Historic Change Opens Up Saudi Arabia to Foreign Tourists, Relaxes Dress Restrictions
     

    Saudi Arabia announced a new tourist visa scheme on Friday that will see the Kingdom open up to international leisure travelers for the first time, a historic milestone in a broader push to diversify and modernize its economy and society. Until today, visas were largely restricted to pilgrims, business travelers and expatriate workers, leaving much of Saudi Arabia – including 5 UNESCO World Heritage sites, […]

     
  • Saudi Arabia’s Financial Sector Development Program Sees ‘Fair Level of Progress’, Report Says
     

    A recently-released report from Jadwa Investment finds “a fair level of progress on most areas” in the Kingdom’s important Financial Sector Development program (FSDP), encouraging news for the diversification of Saudi Arabia’s economy and modernization of its financial sector. The FSDP, one of the Kingdom’s Vision 2030 ‘Vision Realization Programs’ (VRPs), aims to develop a diversified […]

     
  • Positive Trends Seen in Latest Data on Saudi Tourism Sector
     

    Recent data released by the Tourism Information Research Center for the Saudi Commission for Tourism & National Heritage finds encouraging data for Saudi officials hoping to attract tourism spending from abroad and entice Saudis to spend vacation locally in the Kingdom. Tourism spending in Saudi Arabia amounted to $9.6 billion during July and August of 2019 […]

     
  • First shares in Aramco will be sold on Saudi stock exchange – reports
     

    Saudi Aramco will list the first shares of the company on Saudi Arabia’s stock exchange, the Tadawul, and will do so “very soon,” the company’s CEO Amin Nasser said. The local listing is likely to precede an international one, but the company has not yet selected a location, according to reports. “The primary listing is to list […]

     
  • Saudi Arabia Names New Energy Minister, Appointing Royal with Deep OPEC Experience
     

    Saudi Arabia has named a new energy minister in Prince Abdulaziz bin Salman, a son of King Salman and older half brother of Crown Prince Mohammed bin Salman, to replace Khalid Al-Falih. Abdulaziz bin Salman is the first member of the royal family to serve as oil minister in Saudi Arabia, a break from longstanding […]

     
  • New Saudi Visa Program, Tourism Event Set for Launch on September 27th, Report Says
     

    A new visa scheme is coming to Saudi Arabia on September 27th that will benefit over 50 nations and will be a “game changer” initiative for attracting international tourists, a report in the English-language Saudi daily Arab News. “Although not officially confirmed by the government, industry sources told Arab News an event to showcase Saudi tourist attractions […]

     
  • Report: Saudi Aramco Considering Tokyo For International Listing
     

    Saudi Aramco is considering Tokyo as the international destination to list its shares, according to an exclusive report in The Wall Street Journal on Thursday. Saudi Aramco is “considering a plan to split the world’s largest IPO into two stages, offering a portion of its shares on the Saudi stock exchange later this year and following up […]

     
  • Women in Saudi Arabia begin exercising new travel rights as reforms progress
     

    Saudi women are beginning to exercise their new rights to travel without guardian approval as the Kingdom continues to enact progressive reforms as part of its Vision 2030 social and economic blueprint. This week’s announcement by the Departments of Passport and Civil Status that the organization has begun enforcing the amended Travel Documents Law and regulations […]

     
  • Saudi Students See Greater Freedom in Travel with New Rules
     

    New rules put in place by Saudi government authorities have granted the right of all Saudi students studying oversees to travel without requiring a permit from their parents or guardians, even if they are under the age of 21, according to reports. Saudi Arabia’s General Directorate of Passports announced Monday that students “will only require proof of […]

     

MUST-READS

  • Climate change imperils world’s oil and gas reserves: research

    Much of the world's reserves of oil and gas is under threat from rising tides, storms, floods and extreme temperatures caused by climate change, risk consultancy Verisk Maplecroft said on Thursday. Access to the equivalent of 600 billion barrels or 40% of the world's recoverable oil and gas reserves could be affected by the wild weather, with major producers Saudi Arabia, Iraq and Nigeria among the most vulnerable, the UK-based firm wrote in a research note.

  • Award-winning Saudi app Taakkad has important role to play in climate change battle

    In Saudi Arabia, the award-winning Taakkad app can help. Designed by the Saudi Standards, Metrology and Quality Organization, also known as SASO, it allows consumers verify the validity of a product’s Saudi Quality Mark, which denotes that the product and its manufacturing process meets the organization’s requirements. In addition, the app can be used to check that the information about energy efficiency and fuel efficiency on labels provided with items such as appliances, vehicles and tires matches the information in the SASO database, and to compare the energy efficiency ratings of similar products.

  • Volume of Saudi-GCC trade exchange reaches $64 billion 

    The General Authority for Statistics (GASTAT) announced that the volume of trade exchange between Saudi Arabia and other Gulf Cooperation Council (GCC) states reached a total of SR239 billion. This is during the period between January 2020 and September 2021, according to the latest report of the authority.

  • Perspective: Progress for Saudi Women Is Uneven, Despite Cultural Changes and More Jobs

    “It’s not like before, like you have to wear, like, hijab and everything,” said Marwa, a 19-year-old university student who was shopping at Ms. Ahmed’s shop, referring to the traditional head scarf worn by Saudi women. “Now you can have free choice, but limited. It’s not like you are showing parts of your body.”

  • Saudi Arabia Tadawul Stock Exchange Soars After IPO

    Saudi Tadawul Group surged on its trading debut after the stock exchange raised $1 billion, marking the biggest exchange IPO since Euronext went public in 2014. The shares rose as much as 22% on Wednesday on bets that buoyant Middle East stock markets will attract more listings from private companies and cash from investors around the world. The pipeline for IPOs in the kingdom is “deeper than ever,” Chief Executive Officer Khalid al Hussan said in an interview with Bloomberg Television. “It will be even better next year,” he said, adding that technology, health care and education companies are among the newcomers to the market.

  • Analysis: Is Shale Gas A Gamechanger For Saudi Arabia?

    "All other factors remaining equal, one billion cubic feet of gas equals 0.167 million barrels of oil equivalent, so 2.2 Bcf/d (the future Jafurah output) equals 0.3674 million barrels of oil equivalent, or 367,400 barrels. Therefore, the total projected new amount of gas to come from Jafurah is around 367,400 barrels per day, which is not even enough to cover the current amount of oil being (400,000 bpd) burned for power generation in Saudi Arabia, even if Aramco’s already elevated gas production holds steady."

  • New UAE criminal code among 40 legal changes in reform push

    The United Arab Emirates on Saturday said a new criminal code would come into force in January as part of what it called the most sweeping legal reform in the Gulf state's history. State news agency WAM reported the government is changing 40 laws this year. It did not make clear, however, which of the changes - which concern commercial companies, online security, trade, copyright, residency, narcotics and social issues - were new and which had been previously reported.

  • Mubadala’s investment focus to remain unchanged despite short-term challenges

    “When I look at 2022, for us as Mubadala ... there’s no shift in terms of our strategy, in terms of themes in which we are investing in [and] in terms of how we look at the next five to 10-year cycle,” Khaldoon Al Mubarak said at the Global Manufacturing and Industrialisation Summit (GMIS 2021), which started in Dubai on Monday.

  • Soaring lithium prices spur changes in supply contracts

    "Prices are up over 230% year to date, really around a lack of available material," said Caspar Rawles, analyst at Benchmark Mineral Intelligence. "As a result, people are willing to sign up for longer-term contracts going into 2022 with more frequent price breaks."

  • COP26: Did the Glasgow summit matter for climate change?

    "If the success of an international agreement can be measured in its ability to disappoint everyone equally, the Glasgow accord could be seen as a triumph," Hannah Cloke, professor of hydrology at the University of Reading, said in a statement. "From a scientific point of view, we are back in the position where the science is ever clearer but the politics is still worryingly murky."