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  • As Officials Gather Evidence in Saudi Oil Attacks, Trump Ratchets Up Sanctions
     

    President Donald Trump on Wednesday said he ordered a major increase in sanctions on Iran, the first response by the U.S. to the attacks on two key oil installations in Saudi Arabia, according to reports. The pronouncement by Trump comes as both U.S. and Saudi officials ready evidence that points the finger at Iran for the […]

     
  • Trump says he does not want war with Iran, but says Tehran ‘likely’ behind attacks
     

    President Donald Trump said on Monday it looked like Iran was behind attacks on oil plants in Saudi Arabia but stressed he did not want to go to war, according to reports, as the world watches how the Kingdom and its allies may respond to Saturday’s strikes. “It’s certainly looking that way at this moment,” Trump […]

     
  • Brazen Attacks on Key Saudi Oil Facilities Knock Half of Daily Saudi Production Offline, Place Region on Edge
     

    In the early hours of Saturday morning, two of Saudi Arabia’s most important oil facilities were brazenly attacked and set ablaze, causing a disruption of half of Saudi Arabia’s total daily oil production and 5% of the world’s crude supply and throwing the tense region into greater risk of conflict. The attacks on Saudi Arabia hit […]

     
  • Saudi Arabia will Continue Efforts to Raise Oil Prices with Compliance on OPEC+ Production Cuts
     

    Saudi Arabia’s new minister of energy Prince Abdulaziz bin Salman said the Kingdom would continue to overcomply voluntarily with oil output cuts agreed by the OPEC+ producer alliance, Reuters reports, as the Saudi Arabia hopes to push the price of oil higher. The comments from the new minister came after a meeting of ministers from […]

     
  • First shares in Aramco will be sold on Saudi stock exchange – reports
     

    Saudi Aramco will list the first shares of the company on Saudi Arabia’s stock exchange, the Tadawul, and will do so “very soon,” the company’s CEO Amin Nasser said. The local listing is likely to precede an international one, but the company has not yet selected a location, according to reports. “The primary listing is to list […]

     
  • World’s Largest Fund Manager BlackRock Opens Office in Saudi Arabia
     

    BlackRock, the world’s largest fund manager, has opened an office in Saudi Arabia, according to reports, as the company continues forward with plans to capitalize on the government’s economic reforms. A company spokeswoman told Reuters the BlackRock Riyadh office had “opened recently and is headed by Yazeed Almubarak,” the news service reports. Almubarak previously worked at Morgan Stanley […]

     
  • Women in Saudi Arabia begin exercising new travel rights as reforms progress
     

    Saudi women are beginning to exercise their new rights to travel without guardian approval as the Kingdom continues to enact progressive reforms as part of its Vision 2030 social and economic blueprint. This week’s announcement by the Departments of Passport and Civil Status that the organization has begun enforcing the amended Travel Documents Law and regulations […]

     
  • Saudi Aramco Picks Advisors for Second Run at Initial Public Offering
     

    Saudi Aramco has made first selections for financial partners in its rejuvenated attempt to file for an initial public offering (IPO), choosing Bermuda-based Lazard Ltd. and Moelis & Co. as advisors, people with knowledge of the matter told Bloomberg. “The boutique investment banks have started preparatory work on the offering, according to the people, who asked not to be […]

     
  • Houthis attack Saudi oilfield with drone, but output ‘unaffected’
     

    Oil prices rose for the second straight day as a drone attack launched by Yemen’s Houthi group on an oilfield in eastern Saudi Arabia on Saturday caused a fire at a gas plant, Reuters reports, but the attack “had no impact on oil production.” Energy Minister and Chairman of Saudi Aramco Khalid Al-Falih said the targeted […]

     
  • Oil Continues Slide as Recession Fears Mount
     

    Oil fell 2% toward $58 a barrel on Thursday, extending the previous session’s 3% drop, pressured by mounting recession in the United States and and a surprise boost in U.S. crude inventories, Reuters reports. Last week, oil prices rallied in response to indications from Saudi Arabia and the so-called OPEC+ group that it would work […]

     

MUST-READS

  • MiSK launches third edition of Entrepreneurship World Cup

    The Saudi version of the EWC this year is organizing regional qualifiers in Saudi Arabia before the final, which is scheduled to be held next August, in which the best 15 participating Saudi companies will compete.

  • Qatar Petroleum Said to Plan $10 Billion Bond for Gas Expansion

    The state producer is inviting banks to arrange what would be its first dollar bonds, the person said, asking not to be identified because the information is private. The company is seeking to sell between $7 billion and $10 billion of five, 10- and 30-year notes, the person said. That would make it one of the largest corporate deals this year and one of the biggest of any kind from emerging markets.

  • Gulf economies seen rebounding this year but some forecasts scaled back: Reuters poll

    The economies of the six-member Gulf Cooperation Council are expected to return to growth this year, a quarterly Reuters survey showed on Thursday, but half are seen expanding less than previously forecast.

  • Koert Vermeulen illuminates the Saudi skies with a star in motion in the Kingdom tower

    belgian artist koert vermeulen has unveiled star in motion — a light installation hanging at 256 meters within the void of riyadh’s kingdom tower. programmed to simulate the birth and extinction of a star on the hour, every hour, the lighting piece reflects 3 billion years of existence. the installation is part of the noor riyadh festival, an event lighting up the sky of the saudi capital with artworks displayed under the theme of ‘under one sky’.

  • Saudi Arabia steers away from Jordan royal feud

    But a source close to the leadership of Saudi Arabia, no stranger to royal ructions, told AFP that Riyadh has “zero interest in destabilising Jordan,” a longstanding regional ally. Saudi Foreign Minister Prince Faisal bin Farhan led a delegation to Amman last week to express what he called solidarity with Abdullah.

  • False: This is a model of Prophet Mohammed’s tomb from a museum in Saudi Arabia — Fact Check

    A photo has been shared thousands of times on Facebook alongside a claim it shows the tomb of the Prophet Mohammed. The claim is false: the image shows a model of the tomb from the Dar Al-Madinah Museum in Medina, Saudi Arabia.

  • EU sanctions elite Iran commander, seven others over 2019 protests

    The European Union has imposed sanctions on eight Iranian militia commanders and police chiefs, including the head of the elite Revolutionary Guards, over a deadly crackdown in November 2019, the bloc said in its Official Journal on Monday. The travel bans and asset freezes are the first EU sanctions on Iran for human rights abuses since 2013, as the bloc had shied away from angering Tehran in the hope of safeguarding a nuclear accord Tehran signed with world powers in 2015.

  • France and EU ponder sanctions for Lebanese politicians, diplomats say

    France and the European Union are putting together proposals that could see asset freezes and travel bans imposed on Lebanese politicians to push them finally to agree on a government to rescue their country from economic collapse.

  • Jubah: An Open-air Museum where Millennia are Carved in Rock

    Today, Jubah is a small, quiet oasis town, located 90 km north of the city of Hayil, and is the most famous rock art site in Saudi Arabia. The oasis of Jubah is the remnant of an ancient lake, which was once rich in flora, wildlife, and people. The sand sea of the Nafud Desert is a windswept plain surrounding Jubah. At the foot of the mountains, Jabal Umm Sinman, an array of rock art and inscriptions spanning millennia (with some carvings dating back 10,000 years) has been fenced off as an archaeological site by the Department of Antiquities.

  • Top EU Officials Head to Turkey for a Reset

    In a bid to ease the latest tensions, European Council president Charles Michel and European Commission chief Ursula von der Leyen will seek a framework for cooperation with Turkey when they meet President Recep Tayyip Erdogan Tuesday. The EU wants to continue a 2016 refugee agreement that turned Turkey into Europe's gatekeeper for migrants and refugees. Analyst Sinan Ulgen of the Edam research organization in Istanbul said Ankara is ready for a deal - at a price.