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  • World Cup award adds pressure to Saudi Arabia’s construction challenge

    Fifa’s decision to award Saudi Arabia the 2034 World Cup has started the clock on a huge logistical undertaking to build the infrastructure needed to welcome football fans from around the world. With eight new stadiums including a futuristic clifftop venue planned, the World Cup has become the kingdom’s latest infrastructure deadline as it invests heavily to become a global sports hub. It will host football’s Asian Cup in 2027 and the multi-sport Asian Winter Games in 2029. The demands add to several big projects that are part of Vision 2030, Crown Prince Mohammed bin Salman’s plan to reduce the economy’s dependence on oil revenues. Despite the bold vision, Saudi officials acknowledge that they have recalibrated some plans as they assess the kingdom’s ability to complete projects on time.

  • Severe Storms Delay Flights in Saudi Arabia

    Severe storms hit Saudi Arabia, as torrential rains and high winds delayed flights at King Abdulaziz International Airport, in Jeddah, on Monday, January 6. Severe rains, high winds, and thunder strikes hit much of the country, with some of the worst weather seen in the cities of Mecca and Jeddah, according official weather reports. Officials at the King Abdulaziz International Airport reported significant flight delays, telling flyers to contact their airline before traveling to the airport. Flash flood warnings were also issued in Jeddah, according to local reports.

  • Saudi Arabia to host Royal Rumble in 2026

    WWE, in partnership with The General Entertainment Authority (GEA), on behalf of HE Turki Alalshikh, announced that the 39th annual Royal Rumble will be held in January 2026 in Riyadh, Saudi Arabia. This landmark event marks the first time the Royal Rumble will be hosted outside of North America. Royal Rumble is an annual WWE Premium Live Event that includes both a men’s and women’s match with the winners eliminating all opponents and securing a Championship opportunity at WrestleMania. In a statement, HE Turki Alalshikh said, “Saudi Arabia’s hosting of the Royal Rumble for the first time outside North America reflects the General Entertainment Authority’s ongoing commitment to bringing the world’s largest and most important entertainment events to the Kingdom. Through this partnership with WWE, we aim to enhance the entertainment sector and deliver a transformative experience that attracts a wide audience.”

  • Saudi Arabia Mandates USB Type-C Charging Ports for Mobile Devices

    The Communications, Space and Technology Commission (CST) and the Saudi Standards, Metrology and Quality Organization (SASO) have announced that the first mandatory phase of the unified charging ports for mobile phones and electronic devices in the Saudi market is effective today 1 January 2025, which requires “USB Type-C”. CST and SASO indicated that the unified charging ports decision aims to improve the user experience in Saudi Arabia, reduce extra costs for consumers, deliver high-quality charging and data transfer technology, and enhance the quality of tech products. Furthermore, it promotes environmental sustainability and helps achieve SDG’s by reducing electronic waste.

  • Saudi Arabia Hikes Its Oil Prices to Asia as Supply Tightens

    The world’s top crude oil exporter, Saudi Arabia, has raised the price of its crude loading for Asia in February by more than expected as supply in the world’s largest-importing region is tightening with the continued OPEC+ cuts and reduced volumes from Iran and Russia. Saudi state oil giant Aramco has raised the price of its flagship crude grade, Arab Light, by $0.60 per barrel to a premium of $1.50 a barrel over the Oman/Dubai average, the benchmark off which Middle Eastern crude going to Asia is priced, a price list seen by Bloomberg showed on Monday. Saudi Arabia typically announces around the fifth of each month its crude pricing for the following month and doesn’t comment on price changes. It also sets the tone for the pricing to Asia of the other major oil producers in the Middle East.

  • Leading Saudi Arabian airports hit passenger traffic highs in 2024

    Jeddah King Abdulaziz International Airport and Riyadh King Khalid International Airport each posted record passenger traffic in 2024, reflecting the continuing strong performance of aviation in Saudi Arabia. King Abdulaziz International Airport served 49.12 million passengers, a leap of +14% year-on-year and a new annual high for any airport in the Kingdom. Jeddah Airports Company hailed the figure as a “historic milestone”, noting that the busiest day was 31 December when it hosted 174.600 travellers. With 4.7 million passengers, December was also the busiest month of the year. In a statement, Jeddah Airports CEO Eng. Mazen Johar attributed the record-breaking performance to the airport’s accelerated operational growth, enabled by the support of the Kingdom’s leadership and oversight of the Ministry of Transport and Logistics. He saluted infrastructure development, emphasising the company’s vision to position the airport as a global hub.

  • Saudi Arabia Plans Further Borrowing Spree to Pay for Huge Projects

    Saudi Arabia, one of the largest bond issuers in emerging markets last year, has started 2025 with a funding spree as the country fuels its vast economic transformation plan. The kingdom’s sovereign wealth fund signed a $7 billion Islamic loan with a group of 20 international and regional banks, it said Monday. The announcement came hours after the finance ministry began a dollar-bond sale and days after it raised $2.5 billion from three foreign banks. Its budget is forecast to remain in deficit for the next few years at least, meaning it has to rely more on borrowing.

  • Saudi Arabia estimates 2025 budget funding at $37bn

    Saudi Arabia will need estimated funding of SAR139 billion ($37.02 billion) in 2025 to cover the potential budget deficit. Finance minister Mohammed Al Jadaan has approved the borrowing plan, the National Debt Management Cente said in a statement. The ministry anticipates a budget deficit of SAR101 billion for the year, with nearly SAR38 billion of debt repayment. The kingdom aims to continue diversifying local and international financing channels to efficiently meet funding needs in 2025. It said this will be achieved by issuing sovereign debt instruments, guided by well-defined and robust risk management frameworks.

  • Saudi Arabia boosts desalinated water supply to 50% in Vision 2030 push

    Saudi Arabia’s water sector witnessed significant shifts in 2023, with a 31 percent increase in desalinated seawater production, now comprising 50 percent of the country’s distributed water supply, up from 44 percent in 2022, official data showed, Azernews reports, citing Arab News. According to the General Authority for Statistics’ latest Water Accounts report, non-renewable groundwater consumption by the agricultural sector dropped by 7 percent to 9,356 million cubic meters, compared to 10,044 million m³ in 2022.

  • Saudi Arabia sells $12 billion 3-part bond amid strong demand

     Saudi Arabia raised $12 billion from global debt markets in a three-part bond sale, attracting strong investor demand, according to a government statement early Tuesday, with proceeds expected to help cover its budget deficit and pay down debt. The kingdom sold $5 billion, $3 billion and $4 billion in tenors of three, six and 10 years, respectively, the National Debt Management Center (NDMC) said in a statement, adding that the total order book reached around $37 billion. The issuer was able to lower the pricing on the bonds from initial guidance, fixed income news service IFR reported earlier on Monday, indicating strong investor appetite. "This transaction is part of NDMC's strategy to diversify the investors' base and meet the Kingdom's financing needs from international debt capital markets efficiently and effectively," the NDMC said. Saudi Arabia, the world's top oil exporter, has forecast a fiscal deficit of $27 billion for 2025 as it continues strategic spending on projects linked to Vision 2030, the kingdom's ambitious plan to overhaul the economy.