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  • Nearly $20b in Stimulus for Saudi Economy in 2018
     

    Saudi Arabia has unveiled a stimulus package to begin next year with money to support housing construction as well as fee waivers for small businesses. Saudi Arabia’s King Salman issued a royal decree approving 72 billion riyals ($19.2 billion) worth of measures to stimulate growth in the private sector next year (2018), and 200 billion […]

     
  • Omar Bahlaiwa Honored at Johns Hopkins Forum Alongside U.S. Congress Leaders
     

    Omar Bahlaiwa, Saudi businessman, member of the board of directors of the Saudi-US Trade Group (SUSTG), member of the Saudi Committee for International Trade (CIT) and previously Secretary General of CIT as well as acting Secretary General for the Council of Saudi Chambers of Commerce was honored at the Annual Transatlantic Economic Forum held at the Johns […]

     
  • No Big Outflow of Money from Saudi Arabia Yet as U.S. Treasury Monitors Situation – Reports
     

    There has been no big outflow of money from Saudi Arabia as a result of the sweeping anti-corruption crackdown that was announced two weeks ago, according to central bank governor Ahmed Al-Kholifey. In comments made to CNN and reported in Reuters, Al-Kholifey said Saudi Arabia is seeing “some increase, but it’s not that much,” and […]

     
  • Citigroup Saudi Arabia to be ‘Fully Operational’ in 1Q 2018
     

    Citigroup will be “fully operational” in Saudi Arabia in the first quarter of 2018 after an absence of more than a decade, according to reports, as it seeks to capitalize on opportunities in debt and equity capital markets. The new business will be branded as Citigroup Saudi Arabia and will offer a full range of investment banking, debt […]

     
  • In WSJ Op-Ed, Al-Qassabi Says Kingdom Will Not Avoid Short-Term Difficult Decisions to Eradicate Corruption, Actualize Vision 2030
     

    In a op-ed published in the Wall Street Journal, Saudi Arabia’s Minister of Commerce and Investment Dr. Majed Al-Qassabi addressed critics of the Kingdom’s anti-corruption efforts and says the actions taken last week are evidence that Saudi Arabia is facing a “watershed moment” to eradicate the scourge of corrupt practices. “Saudi Arabia is a rich […]

     
  • Aramco Set to Invest $300 billion over 10 years in Oil and Gas Projects
     

    While speaking at the ADIPEC Energy Conference in Abu Dhabi, Aramco CEO, Amin Nasser, declared Saudi Aramco’s plans to invest $300 billion over 10 years in upstream oil and gas projects, Reuters reports. Preceding Nasser’s comments, Saudi Aramco announced on November 9 that it had signed eight agreements worth $4.5 billion with a number of […]

     
  • Markets Rattled by Saudi Shake-Up, Rising Regional Tensions
     

    Rising tensions between Saudi Arabia and Iran, as well as the kingdom’s crackdown on corruption last week that has seen over 200 jailed and $100b in assets frozen, have rattled markets in the region and kicked off efforts for wealthy Saudis to move money abroad, according to reports. In Lebanon, where tensions are escalating between the two […]

     
  • Investors, Analysts with Mixed Interpretations After Wild Weekend in Saudi Arabia
     

    Investors and analysts are mixed in their reactions after a wild weekend for Saudi Arabia that put the Kingdom into the international spotlight. Within the span of just days, Saudi Arabia said it shot down a missile that nearly hit Riyadh’s international airport, launched a new corruption body that immediately arrested some of Saudi Arabia’s wealthiest international businessmen and […]

     
  • Fitch Ratings Affirms ‘A+’ Outlook for Saudi Arabia as Finance Ministry Pushes Back Date of Deficit Elimination
     

    Fitch Ratings on Thursday affirmed Saudi Arabia’s long-term foreign-currency Issuer Default Rating (IDR) at ‘A+’ with a stable outlook, saying the ratings are “supported by strong fiscal and external balance sheets, including exceptionally high international reserves, low government debt, significant government assets and strong commitment to an ambitious reform agenda.” The Fitch report said central […]

     
  • What We Know About Neom, Saudi Arabia’s New Planned Mega-City
     

    Saudi Arabia’s new massive planned city, Neom, is set to be the most ambitious undertaking of Saudi Arabia’s ambitious reform plans to-date. Here’s what we know about Neom so far. The new planned city is massive. At 10,000 square miles (26,500 square kilometers), the city extends across the borders of three countries, the first special […]

     

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