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  • Saudi Aramco to invest in new energy ventures
     

    Saudi Aramco has launched an investment arm to buy into companies that have developed technologies of strategic importance to Saudi Arabia and speed their deployment in the kingdom, the state-run energy group said. Saudi Aramco Energy Ventures LLC (SAEV) plans to invest in start-up and high-growth ventures offering new technologies to the upstream and downstream […]

     
  • Al Jubayl Saudi Arabia As Seen From Orbit at Night
     

    The city of Al Jubayl (or Jubail) is located on the coast of Saudi Arabia, along the Persian Gulf. The city has a history extending back more than 7,000 years, but since 1975 it has been associated with the petrochemical, fertilizer, and steel industries. At night, these industrial areas form a brightly lit region (image […]

     
  • Study finds ’80 more years of Saudi oil at current production levels’
     

    Saudi Arabia, the biggest oil producer in the world with a proven reserve of 264 billion barrels, could continue oil supplies for the next 80 years at the current production levels, the Kuwait-based Diplomatic Center for Strategic Studies (DCSS) said in a study. Saudi Arabia retains 38.7 percent of world oil reserves whereas the shares […]

     
  • Why Saudi Arabia’s Travel and Tourism Sector Is Ripe for Growth
     

    Saudi Arabia’s travel and tourism sector is poised for rapid growth in the next decade and beyond, and both Saudi and international corporations are looking to cash in on the opportunities ahead. A product of the changing economic and social landscape in Saudi Arabia, the coming tourism boom is likely to contribute to the Kingdom’s […]

     
  • Saudi, UAE, Qatar top Cleantech list
     

    Saudi Arabia, the UAE, Qatar and Jordan are the most attractive markets for clean technologies, thanks to their government plans, budgets and long-term strategies, said a report by Ernst & Young. These countries have also demonstrated investments in large initiatives such as KACARE, Masdar and the ‘Green’ Fifa World Cup 2022, said E&Y in the […]

     
  • Saudi Mortgage Law Approved – Jadwa Flash Note
     

    Jadwa Investments released a flash note discussing the recently approved mortgage law in Saudi Arabia, which the bank believes “is a very important step in broadening home ownership.” The new mortgage law “will help to tackle one of the most pressing social issues for many in the Kingdom and will generate significant benefits to the economy. However, […]

     
  • The Ritz-Carlton in Riyadh is Arguably the World’s Nicest Hotel
     

    If you look at pictures of the new Ritz Carlton, it might not look like it belongs in Riyadh, the capital of Saudi Arabia. Not because the arguably world’s nicest hotel isn’t worthy for the Kingdom, but because the style of the hotel makes it look like a king’s palace in old Europe, with a […]

     
  • Sulaiman Al-Rajhi’s life a rags to riches story
     

    Al-Rajhi is a billionaire who chose last year to become a poor man at his own will without having any cash or real estates or stocks that he owned earlier. He became penniless after transferring all his assets among his children and set aside the rest for endowments. In recognition of his outstanding work to […]

     
  • How Oil Has Driven Global Conflict For The Past 100 Years
     

    Michael T. Klare recently gave a presentation titled “The Geopolitics of Oil: Old and New” at the Association for the Study of Peak Oil conference in Vienna, in which he speaks about how no other substance in the world is as closely aligned with geopolitics as oil is. Klare describes the geopolitics of oil — the intersection […]

     
  • Hoteliers Expand in Saudi Arabia as Mecca Goes Upscale
     

    “I wish I could have more hotels in Mecca,” said Jan Smits, InterContinental’s chief executive officer for Asia, Middle East and Africa. “In four months, you make 70 percent of your income. It’s a really strong market and it’s one of the most unique in the world.” The company has been in the country since […]

     

MUST-READS

  • Oil prices up after bullish Saudi comments, falling U.S. stockpiles

    Oil prices rose on Wednesday after data showed U.S. inventories and fuel supplies tightening and following a warning from the Saudi energy minister to speculators raised the prospect of further OPEC+ output cuts. Saudi Arabia’s energy minister said short sellers - those betting that prices will fall - should “watch out” for pain.

  • First batches of one million foreign pilgrims head for Saudi Arabia for lifetime spiritual journey

    Around one million pilgrims will stream to Saudi Arabia from all corners of the globe over the coming weeks for the first full capacity Hajj season after the breakout of the coronavirus pandemic in 2020.

  • Madinah comes 4th in Saudi urban agglomerations

    Madinah has been ranked fourth among Saudi Arabia's regions in terms of urban agglomeration after Riyadh, Jeddah and Makkah, according to the Urban Observatory of the Madinah Development Authority. The local review of Madinah 2023, issued by the Urban Observatory has also shown that Madinah has reached the level of self-growth, to be one of the first eight urban centers supported by the National Urban Strategy as a top priority for comprehensive national development. It is expected that Madinah will witness significant growth during the coming 30 years, bringing its permanent population to about 2.06 million people and approximately 12 million visitors annually by 2040.

  • Houthis Sign Deal With China For Oil Exploration In Yemen

    The Houthi-led government in Yemen this weekend signed a deal with Chinese officials and a Chinese company that will invest in oil exploration in Yemen. China’s Anton Oilfield Services Group (AntonOil) and a representative of the Chinese government signed on Saturday the memorandum of understanding (MoU) for investment in Yemen’s upstream sector, Middle East Monitor reported, citing a report by the Sanaa-based Saba News agency.

  • NEOM jobs: Hotel development roles available in Saudi Arabia gigaproject

    Saudi Arabia’s NEOM gigaproject has dozens of job openings across its vast plans, including five hotel roles. Currently showing the NEOM careers portal are the following positions in the Hotel Development division

  • Opinion: Five Factors Mean the Middle East Is Not Back to Normal

    None of this is intended to argue that the Middle East needs to promote the wholesale adoption of Western social and political norms, or that there is only one way to confront the challenges that the Middle East will confront in the coming years. But it does suggest that some of the Middle East’s most challenging times are ahead of it, and the burden on governments to respond swiftly and effectively to increasingly complex phenomena will increase. At the same time, the resources available to governments are likely to be constrained. The Middle East has not returned to the status quo ante. Instead, it is on the brink of transformation.

  • Middle East countries face extreme heat risk, study finds

    New research published in Nature Sustainability journal suggests several regional countries may have entire populations exposed to extreme temperatures due to climate change.

  • Exclusive: Chinese hackers attacked Kenyan government as debt strains grew

    Chinese hackers targeted Kenya's government in a widespread, years-long series of digital intrusions against key ministries and state institutions, according to three sources, cybersecurity research reports and Reuters' own analysis of technical data related to the hackings. Two of the sources assessed the hacks to be aimed, at least in part, at gaining information on debt owed to Beijing by the East African nation: Kenya is a strategic link in the Belt and Road Initiative - President Xi Jinping's plan for a global infrastructure network.

  • Ronaldo says Saudi league could become top five in the world

    Portuguese soccer great Cristiano Ronaldo believes the Saudi Pro League he joined this season could in time become one of the top five leagues in the world. The Portugal skipper joined Al-Nassr in January on a contract estimated by some media reports to be worth more than 200 million euros ($220.16 million). Ronaldo has played in three of the world's top leagues with stints at Real Madrid in Spain's La Liga, Manchester United in the English Premier League and Juventus in Italy's Serie A.

  • Ronaldo says Saudi league could become top five in the world

    Portuguese soccer great Cristiano Ronaldo believes the Saudi Pro League he joined this season could in time become one of the top five leagues in the world. The Portugal skipper joined Al-Nassr in January on a contract estimated by some media reports to be worth more than 200 million euros ($220.16 million). Ronaldo has played in three of the world's top leagues with stints at Real Madrid in Spain's La Liga, Manchester United in the English Premier League and Juventus in Italy's Serie A.