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  • ‘There is a large infrastructure boom happening in Saudi Arabia’
     

    Saudi Arabia is spending more than $60 billion on a logistics hub, airport improvement and roads to reduce travel time in the Arab world’s biggest economy. The investments also yielded the largest sukuk, or Islamic bond, offered in the Middle East this year and an initial public offering on the stock exchange in June. “There […]

     
  • Wealth Management in the Middle East: Boon or Bust?
     

    Middle Eastern policymakers and bankers will develop an indigenous wealth management industry which keeps the super-wealthy’s investments at home. Developing a local national wealth management industry requires letting in foreign competition, changing banking and securities laws, and growing local companies whose shares are worth buying. The first part of the article reviews trends in wealth […]

     
  • Saudi Students Flood In as U.S. Reopens Door
     

    The more than 300 graduates gathered at a hotel overlooking the Potomac River were all from Saudi Arabia, part of a massive government-paid foreign study program to earn bachelor’s, master’s and doctorate degrees and return home to help run their country. “You are the best of the best, and the future of our country,” Saudi […]

     
  • Saudi consumer electronics market surges
     

    Saudi Arabia’s consumer electronics devices market, defined as the addressable market for computing devices, mobile handsets and video, audio and gaming products is projected at $6.4 billion in 2012, Business Monitor International said in “Saudi Arabia Consumer Electronics Report Q2 2012″report. This is expected to increase to $8.2 billion by 2016, driven by the growing […]

     
  • The Saudi Cultural Mission’s New Headquarters
     

    The new SACM headquarters in Fairfax, Virginia provides a modern hub for Saudi Students in the United States, and stands as a symbol of the strong cultural relations between the United States and Saudi Arabia. Until recently, the future of the iconic Watergate hotel and office complex in Washington DC, which was the site of […]

     
  • With customs union, GCC edges toward closer economic ties
     

    Saudi Arabia, the biggest Arab economy, is leading moves toward political and economic cooperation, which it believes would give the mostly Sunni-led monarchies of the Gulf more power to withstand any confrontation with Shi’ite Iran. Closer business ties within the GCC, which consists of Saudi Arabia, the UAE, Kuwait, Qatar, Oman and Bahrain and has […]

     
  • Ramadan 1433
     

    Ramadan means more in the lives of Muslims than refraining from eating and drinking during the daylight hours. The ritual fasting during the holy month is among the five pillars of Islam: Shahadah, the declaration of faith; Salat, five daily prayers; Zakat, charitable giving; Hajj, the pilgrimage to Mecca; and Sawm of Ramadan, the ritual […]

     
  • Saudi car sales to hit $25 billion by 2013
     

    Saudi Arabia has ambitious plans to further expand its lucrative automobile industry. In 2011 alone, the Kingdom announced the sale of approximately 800,000 cars potentially increasing to 1 million vehicles per year by the end of the current decade. In this context, the country is planning to start manufacturing automobile parts by 2013 in addition […]

     
  • Muslims across the world prepare to observe Ramadan
     

    Muslims around the world begin fasting on Friday in observation of Ramadan, the holiest month in Islam when the faithful abstain from eating food or drinking water from sunrise to sunset…. Every year, identifying the start of Ramadan is like a waiting game; Islamic scholars must see the new crescent moon in the night skies […]

     
  • Gulf States Move to Diversify Income Sources
     

    Saudi Arabia, the world’s biggest oil exporter, has identified mining as a key investment area after oil and petrochemicals, and is spending an estimated $38 billion to develop two cities centered around mining…“The idea is to try and improve the range of benefits and advantages of doing business in the G.C.C. and in Saudi Arabia, […]

     

MUST-READS

  • Hajj pilgrims must meet several conditions before and after arrival in Saudi Arabia

    The ministry reminded the pilgrims of the importance of carrying all official documents with them while arriving to the airport in order to complete their travel procedures. Pilgrims should be careful to keep any electronic devices in baggage that will be taken on board the flights. The ministry asked the pilgrims to make sure each piece of their luggage that will be shipped is in accordance with approved sizes to guarantee that it will be accepted. They are also advised to put distinctive identifying marks on each piece of luggage before shipping it.

  • Triotech selected to develop multiple attractions for Transformers experiences in Saudi Arabia

    Part of Saudi Arabia’s Public Investment Fund (PIF), Seven has selected Triotech to develop themed interactive dark rides for its Transformers attractions, which will cover 10,000sq m (108,000sq ft) and be set across a range of immersive action-filled environments themed on the popular IP. In its role, Triotech will be responsible for the design, engineering, manufacturing, and installation of these interactive dark rides.

  • What retailers should know about Saudi Arabian luxury consumers

    In 2022, Saudi Arabia's fashion market was worth over €2 billion (~$2.15 billion), and only continues to grow as brands like Prada and Tiffany’s expand their presence with mono-brand outlets in the country.

  • Commentary: Israeli-Saudi normalization still elusive despite US push

    Sources familiar with the talks said the inclusion of Hochstein, a confidant to the president who sealed the Lebanon-Israel maritime deal, signals Israeli-Saudi normalization is a priority issue for Biden. Israel’s Foreign Ministry Director-General Ronen Levy also discussed a possible Saudi deal with administration officials during his visit to Washington last week. Secretary of State Antony Blinken will likely raise the issue during an expected visit to Saudi Arabia next month.

  • Saudis take to mountains to become guides: Video

    If you ever go hiking in Saudi Arabia, these may be your guides They’re hoping to become certified guides, as hiking surges in popularity here The training is led by the Saudi Climbing and Hiking Federation

  • Who Is Iran’s New Supreme National Security Council Secretary?

    The SNSC is composed of the heads of the executive, legislative, and judicial branches of the government; the chief of staff of Iran’s armed forces; the head of the Plan and Budget Organization; two representatives appointed by the supreme leader; the ministers of foreign affairs, interior, and intelligence; and the heads of the army and the IRGC; plus any minister whose portfolio is subjected to debate in the council.

  • Commentary: Is Saudi-Israeli Normalization on the Horizon or Merely Speculative Media Hype?

    “If you read the Jeddah communique and saw the space, the number of words and the placement of ‘Palestine’ and ‘Jerusalem’ in that statement issued in Saudi, what the Saudis are suggesting and what they want, then the claims of near normalization are generally untrue,” he told The Media Line. “Maybe there are attempts, but there is clearly no way that the Saudis—who came up with the Arab peace plan which was again reiterated in Jeddah and which calls for no normalization without withdrawal—you would realize that Saudis would not have reiterated support for it if they had any plans to violate it.”

  • The Saudi Center for Commercial Arbitration Publishes the Second Edition of its Rules

    The Saudi Center for Commercial Arbitration (SCCA) has published the second edition of its arbitration rules, which came into effect on May 1, 2023 and applies to all arbitrations commenced on or after that date. As compared to the 2018 rules, these amendments are aimed at making the SCCA more attractive to a variety of business sectors. The new rules are the fruit of two years of consultation with industry experts, all in an effort to meet the highest standards in international arbitration. Some of the noteworthy amendments include the establishment of the SCCA Court, the removal of references to Sharia law, and new regulations regarding consolidation, cybersecurity, joinder, and emergency protective measures.

  • What a ministerial impeachment says about corruption in Iran

    Following rising controversy, Iranian lawmakers on Apr. 30 sacked the minister of industry, mining and trade. Prior to his impeachment, Reza Fatemi Amin had faced severe criticism from MPs and other stakeholders with a focus on the poor performance of the automotive sector. The political reasons for the dismissal have previously been covered by Amwaj.media. However, the debacle is also important as it sheds light on how corrupt networks undermine the potential of the Iranian economy.

  • Saudi MoJ publishes report on judiciary’s achievements in 7 years of Vision 2030

    The report explored numerous achievements including new legislations, improved efficiency, and digitalization through the enablement of 150 e-services through Najiz.sa portal. The report also highlighted the launch of e-Litigation service, the Virtual Enforcement Court, the e-Auction platform, and the Nafith (enforcement) platform.