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  • Seven years of prosperity and development
     

    Saudi Arabia will mark the seventh anniversary of Custodian of the Two Holy Mosques King Abdullah’s accession to the Saudi throne on May 17 with a variety of programs highlighting the remarkable progress achieved by the Kingdom in education, health, industry, agriculture and other sectors under his wise leadership. King Abdullah’s announcement at the Shoura […]

     
  • Saudi Perspective on the Middle East: Obaid
     

    In this SUSRIS exclusive presentation, the “Saudi Perspective on the Middle East: The View from Riyadh” assessment provides: the background and context for Saudi diplomacy — assets and characteristics; economic and energy data; sources of regional instability; the “New Gulf Union”; profile of Gulf defense configurations; the Kingdom’s role in regional stabilization and its political and […]

     
  • Jadwa: Inflation Report, April 2012
     

    Year-on-year inflation dipped to 5.3 percent in April from 5.4 percent in March. Lower food price inflation was the main reason for the decline. Rental inflation picked up.

     
  • Not a Drop to Drink: The Global Water Crisis
     

    In the next twenty years, global demand for fresh water will vastly outstrip reliable supply in many parts of the world. Thanks to population growth and agricultural intensification, humanity is drawing more heavily than ever on shared river basins and underground aquifers. Meanwhile, global warming is projected to exacerbate shortages in already water-stressed regions, even […]

     
  • Petchem projects lead Saudi industrialization drive
     

    The Saudi project market continues to thrive. Latest data from Meed put the value of projects “planned or underway” at $745 billion in mid-April, around 13 percent higher than a year earlier. These figures need to be treated with some caution: The topline number is some 30 percent larger than the nominal size of the […]

     
  • Journey of a lifetime
     

    To say that I was excited to be in the presence of such history would be an understatement. I had been looking forward to this trip for months and was absolutely beside myself. My purpose was to travel with my mother to Saudi Arabia to perform the Umrah, a mini version of the annual Hajj […]

     
  • Al-Qaida’s wretched utopia and the battle for hearts and minds
     

    Driving east out of Aden, we were just a few hundred metres past the last army checkpoint when we saw the black al-Qaida flag. It flew from the top of a concrete building that had been part-demolished by shelling. From here into the interior, all signs of control by the government of Yemen disappeared. This […]

     
  • Positive Steps: Interview with Saudi Minister of Finance Al Assaf
     

    The industrial sector is the real excitement for us, which is growing at a rate of 15 per­cent, which is not a joke. The other one is service sector, like the financial services or the restaurant and hotels or other services in the economy. A particular sector that we are excited about is the mineral […]

     
  • “Milestone” oil manipulation case unsettles traders
     

    U.S. regulators’ $14 million settlement with high-frequency trading firm Optiver over oil price manipulation in 2007 is a “milestone” victory in their toughening stance on market malfeasance which is being closely watched by traders. In its first major case against an algorithmic trader, the Commodity Futures Trading Commission said late on Thursday that a court […]

     
  • Home boom aids Saudi Telecom profit surge
     

    Soaring demand for broadband helped Saudi Telecom Co (STC) post a 60 percent increase in first-quarter profit on Wednesday, with the former monopoly reporting rising revenues in its mobile, fixed line, corporate and wholesale units. The former monopoly, which will pay a quarterly dividend of 0.5 riyals per share, made a profit of 2.52 billion […]

     

MUST-READS

  • Despite public outrage, Iran moves to raise retirement age

    The Iranian parliament has voted to increase the retirement age. The move has been strongly criticized by both the media and the public. Lawmakers insist that details of the plan have been misrepresented. Meanwhile, the labor minister has argued that the measure will help “stabilize” the crisis-hit retirement funds in the country. Though passed by the parliament, the plan needs to be vetted by the Guardian Council before becoming law.

  • SAMI exec on Saudi Arabian localization push, Turkish deal prospects and future plans

    A top executive for Saudi Arabia’s state-owned defense conglomerate told Breaking Defense that the kingdom has managed to localize about 15 percent of its defense production so far, in what he says will be a springboard for hitting the nation’s goal of 50 percent localization by 2030. For instance, Walid Abukhaled, CEO of Saudi Arabia Military Industries (SAMI), pointed to a recent deal with Turkey’s Baykar Technology to first directly purchase the company’s Bayraktar Akinci drones, but then domestically produce them in the kingdom beginning in 2026. Abukhaled sat down with Breaking Defense during the Dubai Airshow to discuss SAMI’s wider localization efforts, prospective cooperation agreements, and the organization’s plans for the upcoming second edition of World Defense Show that will take place in Saudi Arabia in February 2024.

  • Saudi Crown Prince calls on all countries to stop arms exports to Israel

    Saudi Arabia’s Crown Prince Mohammed bin Salman urged all nations during an extraordinary BRICS summit on Tuesday to cease weapon exports to Israel.

    South Africa is hosting a virtual meeting of BRICS -- a group of major emerging economies that includes Brazil, Russia, India, China and South Africa -- aimed at drawing up a common response to the Israel-Hamas conflict.

  • Saudi Arabia begins ‘significant’ income tax reform: Everything you need to know

    Saudi Arabia is proposing major reforms to its income tax laws through amendments to the ‘Income Tax Law’. Late last month, the kingdom’s Zakat, Tax and Customs Authority (ZATCA) released draft laws seeking public input on changes that aim to overhaul the tax code in line with its Vision 2030 economic agenda. “The proposed law represents a significant reform, aiming to modernise the tax system in line with global best practices,” Jean Abboud, Partner and Head of KSA at BSA Legal, told Arabian Business.

  • Hamas chief says truce deal with Israel is ‘close’

    The chief of Hamas said on Tuesday that the Palestinian militant group was near a truce agreement with Israel, even as the deadly assault on Gaza continued and rockets were being fired into Israel.

    Hamas officials were "close to reaching a truce agreement" with Israel and the group has delivered its response to Qatari mediators, Ismail Haniyeh said in a statement sent to Reuters by his aide.

    A source briefed on the negotiations told Reuters the agreement was in its "final stages" and "closer than it has ever been".

  • Saudi-Backed PFL Buys Rival Bellator in Landmark MMA Deal

    Mixed martial arts company the Professional Fighters League has bought rival Bellator MMA, in a bid to take on the Ultimate Fighting Championship.

    Backed by Saudi Arabia’s giant new sports fund, Washington, D.C.-based PFL held its first event in 2018, making it a relatively new combat sports upstart. Its champions in each weight class earn $1 million in prize money.

  • Saudi Arabia Brings In Airline Passenger Compensation: Up To $1,750 For Lost Bags

    Saudi Arabia has introduced new compensation rules for airline passengers, some of which entitle travelers to up to 200% of their ticket price. The new guidelines cover several circumstances affecting the journey of air passengers, such as flight cancelation or delay, lost baggage, flight overbooking, and even a change of cabin class.

  • Saudi crown prince announces launch of Human Capability Initiative

    Crown Prince Mohammed bin Salman on Monday announced the launch of the Human Capability Initiative, a platform designed to unify dialogue around the world on the challenges and opportunities for developing human capabilities. The inaugural edition of the conference will run from Feb. 28-29 at the King Abdulaziz International Convention Center in Riyadh, the Saudi Press Agency reported.

  • Saudi commerce min. had fruitful talks with top gov’t officials in Egypt

    Saudi Ambassador in Cairo Osama Naqli described the recent meetings between Saudi Minister of Commerce Majid bin Abdullah Al-Qasabi and senior Egyptian officials as fruitful and part of joint efforts to boost bilateral cooperation. During his meeting with Prime Minister Mostafa Madbouli, Qasabi, who led a delegation of 90 top Saudi investors yesterday, discussed ways to the economic and business partnership between the sisterly Arab countries, Naqli said in a statement posted to his X account on Monday.

  • A Hidden Saudi Haven For Nature Lovers

    Nestled at 6,500 feet above sea level, we soon discovered that Taif’s lush landscapes and crisp air defy the conventional expectations of Saudi (which often conjures images of towering skyscrapers and endless deserts). Although the destination provides a cooler climate than somewhere like AlUla, the history of the city is equally as rich, with agricultural roots that can be traced back to the 6th century AD.