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  • KPMG Releases Second Edition of its Saudi Arabia CEO Outlook report; Finds Positivity Among Saudi CEOs
     

    KPMG has released its second edition of its Saudi Arabia CEO Outlook report, available as a .PDF from the company’s website here.  The report is based on interviews with 50 CEOs of organizations in Saudi Arabia for their thoughts and insights on the potential opportunities that they have while preparing for the challenges that lie ahead, […]

     
  • BBC Travel Profiles Asir’s ‘Flower Men’, Natural Beauty as Kingdom Eyes Tourism Push
     

    A recently published story in the BBC highlights the unique culture and natural beauty of the Asir province in Saudi Arabia, whose male inhabitants don colorful and ornate head dresses made of local flowers. The U.K.-based news service traveled to Asir province in the south of the Kingdom, one of the least traveled places in Arabia by Western […]

     
  • High Stakes as Saudi Arabia, Russia Leaders Meet on Sidelines of G20
     

    Top officials from Russia and Saudi Arabia are set to test their energy policy coordination through a series of meetings this week, both in Argentina on the sidelines of the G20 meeting and in Vienna, Austria next week for a meeting between OPEC and non-OPEC producers. Crude futures have fallen more than 25 percent since climbing to a four-year peak […]

     
  • Yemen’s Government to Join Peace Talks with Houthis, CNN Reports
     

    Yemen’s Saudi-backed government confirmed it will participate in United Nations-sponsored peace talks in Sweden, according to CNN, which cited the Saudi Press Agency. The announcement came shortly before the United Kingdom introduced a draft resolution on Yemen at the UN Security Council on Monday in which it calls for a ceasefire in Yemen and a two-week […]

     
  • King Salman Delivers Opening Speech at Shoura Council
     

    King Salman gave his annual speech at the opening of the third year of the Shoura Council’s seventh session on Monday and discussed a number of regional and local issues. The King urged the international community on Monday to halt Iran’s nuclear and ballistic missile programs, and reiterated the kingdom’s support for U.N. efforts to […]

     
  • Top Think Tank in Saudi Arabia Studying ‘Hypothetical World Without OPEC’
     

    Saudi Arabia’s King Abdullah Petroleum Studies and Research Center in Riyadh is studying what happens to oil markets in a hypothetical world without OPEC, according to the Wall Street Journal and other reports. The study does not represent government thinking or any active discussions about OPEC within the Saudi government. “We’re looking at what happens if […]

     
  • Saudi Economy Fundamentals Stable, Continued Growth Expected: Jadwa Investment
     

    A recently released macroeconomic update by Jadwa Investment finds the fundamentals of the Saudi economy remain unaltered and the bank “expects solid growth in the next few years” by 2.2 percent in 2018 (compared to -0.9 percent in 2017), with an improvement in the oil sector lifting oil GDP to 3.2 percent in 2018. Looking out into […]

     
  • Saudi Arabia Adjusts National Transformation Plan (NTP)
     

    Saudi Arabia has adjusted some targets within its five-year National Transformation Plan (NTP), making changes to metrics on the official document that can be found on the Kingdom’s Vision 2030 website. Bloomberg first reported the changes on November 1, noting that the new document “doesn’t affect major fiscal or energy-related reforms” but nevertheless represents a scaling back of […]

     
  • Unemployment Unchanged in Saudi Arabia in Latest Labor Market Report
     

    Unemployment in Saudi Arabia remained unchanged in the latest government estimated figures, according to a recently released report by Jadwa Investment on the Saudi labor market. The latest General Authority for Statistics (GaStat) labor market release for Q2 2018 shows that unemployment rate remained unchanged, at 12.9 percent, for the second consecutive quarter. However, the […]

     
  • Saudi Crown Prince Promises Justice for ‘Heinous Crime’ of Khashoggi Murder, Touts Reform Progress
     

    Crown Prince Mohammed bin Salman took the stage yesterday at the Future Investment Initiative conference in Riyadh, making his first public comments since the murder of Saudi journalist Jamal Khashoggi in Istanbul grabbed the world’s attention. The Crown Prince did not shy away from the topic, and opened with addressing what he and the Saudi […]

     

MUST-READS

  • Al Ula conference For Emerging Market Economies THE MANAGING DIRECTOR’S OPENING REMARKS

    Now is a time of sweeping transformations in the global economy, in terms of technology, demography and geopolitics, creating a more challenging and uncertain environment for policymakers everywhere, with some specificities in terms of both risks and opportunities for emerging economies. We know, for instance, that trade is no longer the engine of growth that it used to be—unlike the decades of the 1990s and 2000s when global trade grew much faster than global GDP, the two are now growing at roughly the same rate (and trade even lags behind). When global trade slows down, opportunities for regional and cross-regional trade become more important.

  • Saudi Arabia seeks to mediate between Trump and Iran on new nuclear deal

    Saudi Arabia is open to mediating between the Trump administration and Iran in pursuit of a new deal to limit Tehran’s nuclear program, CNN has learned. The kingdom is concerned that Iran may be more inclined to pursue a nuclear weapon now that its regional proxies – long viewed as a deterrent against Israeli attacks – have been significantly weakened. Saudi Arabia hopes to leverage its close ties with President Donald Trump to provide Iran with a diplomatic bridge to the White House. It is unclear whether Saudi Arabia has made a formal offer, but the move underscores Riyadh’s desire to build on its improved relations with its former foe and secure a seat at the negotiating table for a potential new deal.

  • Saudi Arabia vows full support to Lebanon’s actions to safeguard citizens’ security

    Saudi Arabia expressed on Sunday its full support for the measures taken by the Lebanese government to safeguard the security of its citizens and respond decisively to the attack on the United Nations Interim Force in Lebanon (UNIFIL). In a statement, the Ministry of Foreign Affairs reiterated its confidence in the actions taken by President Joseph Aoun and Prime Minister Nawaf Salam, as well as in the efforts of the Lebanese Army to ensure security and stability. The outgoing deputy force commander of the UNIFIL was injured on Friday after a convoy taking peacekeepers to Beirut airport was "violently attacked", UNIFIL said. It said in a statement that the convoy was taking peacekeepers to Beirut airport when it was targeted and one of its vehicles set on fire.

  • Saudi defense minister, Pentagon chief discuss Saudi-US defense cooperation

    Saudi Arabia’s Defense Minister Prince Khalid bin Salman said on Sunday that he spoke to US Secretary of Defense Pete Hegseth on Saudi-US relations. In a post on X, Prince Khalid said during the call, the officials “explored ways to strengthen strategic defense cooperation,” and “discussed efforts to advance international peace and security.” Prince Khalid said he congratulated Hegseth, the chief of Pentagon, on his new role as part of the administration under US President Donald Trump. Pentagon Press Secretary John Ullyot said in a statement that during the introductory call, both officials reaffirmed “the critical defense partnership between the United States and the Kingdom of Saudi Arabia.”

  • Top US envoy to meet Russian officials for Ukraine peace talks

    US Secretary of State Marco Rubio plans to meet Russian officials in Saudi Arabia in the coming days for talks aimed at ending the war in Ukraine, US officials say. America's top diplomat will be joined by national security adviser Mike Waltz and the US special envoy to the Middle East, Steve Witkoff, the officials told the BBC's US partner CBS News. US special envoy to Ukraine Keith Kellogg said Washington, Moscow and Kyiv would be involved in talks, but Europe was not invited. Ukrainian President Volodymyr Zelensky said Kyiv had not been invited to the talks in Saudi Arabia.

  • Readout of Secretary of Defense Pete Hegseth’s Call With Saudi Minister of Defense, His Royal Highness Khalid bin Salman

    Secretary of Defense Pete Hegseth and Saudi Minister of Defense Khalid bin Salman held an introductory call today to reaffirm the critical defense partnership between the United States and the Kingdom of Saudi Arabia. The Secretary welcomed Saudi Arabia's contributions to regional security and encouraged continued collaboration on shared challenges. They agreed to remain in touch and coordinate closely on areas of mutual interest.

  • Saudi Arabia’s PIF Expands Tourism Investments Beyond Riyadh

    In July 2023, PIF established the Saudi Tourism Investment Company, known as Asfar, to spearhead the development of new tourism projects across various cities. Asfar’s mandate includes creating attractive destinations featuring hospitality venues, tourist attractions, retail outlets, and food and beverage establishments throughout the country. Furthering this initiative, PIF launched Adeera in December 2024, a hotel management company dedicated to developing indigenous Saudi hotel brands. Adeera’s goal is to construct new hotels and implement training programs for Saudi nationals, contributing to the Kingdom’s ambition of attracting 150 million tourists annually.

  • Saudi nationals make up 70% of Red Sea Global workforce: top official

    Saudi Arabia’s multi-project developer Red Sea Global currently employs 70 percent of its workforce from the local population, according to the firm’s group chief financial officer. Speaking at the PIF’s Private Sector Forum in Riyadh on Feb.13, Martin Greenslade said that the Kingdom’s leisure tourism industry witnessed substantial growth in recent years, as the country welcomed 17.5 million tourists in 2024, representing a rise of 656 percent compared to 2019. These developments align with Saudi Arabia’s National Tourism Strategy, which aims to attract 150 million tourists by the end of this decade.

  • Saudi Arabia to lead region’s initial public offerings in 2025 — EY

    The outlook for initial public offerings in the Middle East and North Africa region remains positive in 2025, with Saudi Arabia leading the market with 27 potential listings, according to an analysis. In its latest report, professional services network firm EY said the overall MENA region was expected to witness the listing of 38 companies and 22 funds in 2025, across a variety of sectors. Three listings are in the pipeline of the exchanges in the UAE, while Qatar is expected to witness one IPO. This comes as the Gulf Cooperation Council region has emerged as a hotspot for IPOs in recent years, fueled by robust economic reforms, diversification efforts away from oil dependence, and growing interest from both regional and international investors.

  • How Trump’s dealmaker is shaping U.S. foreign policy

    Witkoff has an expanding portfolio that now includes Trump's biggest geopolitical challenge — negotiating a deal to end the war between Russia and Ukraine as part of a controversial reset of U.S. foreign policy. Trump's cage-rattling agenda — which has shocked European allies — is a keystone of his second term. He'll rely heavily on Witkoff, a billionaire real estate investor and friend for 40 years, to make it happen.