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  • 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 […]

     
  • S&P says Gulf countries need to raise $300 billion by 2021 – Report
     

    Gulf Cooperation Council (GCC) countries will need to raise about $300 billion between 2018 and 2021, with Saudi Arabia having the largest financing requirements, according to rating agency S&P as reported in Reuters. According to a Reuters report, the S&P expects 70 percent of the $300 billion of combined funding needs to be raised through debt […]

     
  • Crown Prince Mohammed bin Salman Launches Project for First Nuclear Plant in Saudi Arabia
     

    Saudi’s crown prince on Monday launched a project to build the first nuclear research reactor in the kingdom, Reuters reports, citing the Saudi Press Agency. The project is one of seven “cutting edge ventures” in the fields of renewable energy, atomic energy, water desalination, genetic medicine and aircraft design that were inaugurated by the crown […]

     
  • 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 […]

     
  • Sec. Mattis, Saudi FM Al-Jubeir Meet; U.S. Calls for ‘Transparent Investigation’
     

    U.S. Defense Secretary Jim Mattis said on Sunday that he has met with Saudi Arabia’s foreign minister, Adel Al-Jubeir, and called for a “transparent investigation” into the killing of journalist Jamal Khashoggi in Turkey, according to reports. Mattis said he met Saudi Foreign Minister Adel al-Jubeir during a conference in Bahrain on Saturday and discussed […]

     
  • Special Economic Zone Created at Riyadh Airport to Attract Investment; New Jazan Project Launched
     

    Saudi Arabia announced the establishment of a special economic zone around Riyadh’s airport to draw more foreign investment, Reuters reports, citing the Saudi Press Agency (SPA). The zone, which will be located in King Khalid International Airport in Riyadh, will “focus on integrated logistics and enjoy special rules and regulations aiming at attracting more multinational companies […]

     
  • Pompeo Leaves Saudi Arabia, Arrives in Turkey
     

    U.S. Secretary of State Mike Pompeo concluded his visit to Saudi Arabia and is now in Turkey to meet with Turkish officials including President Erdogan, according to reports. Pompeo said the government pledged to hold anyone accountable in the disappearance of Saudi journalist Jamal Khashoggi. “[The Saudi government] made a commitment to hold anyone connected […]

     
  • Blackstone Establishes Energy Investment Vehicle for MENA Region
     

    Blackstone, the world’s largest buyout group with over $15 billion of equity globally with the energy industry has established Zarou, a company designed to develop, finance, construct and operate energy-related projects in the MENA region. According to the Financial Times, Blackstone will team with Sameh Shenouda, former head of infrastructure equity investments at the UK’s development finance […]

     
  • Global Advisory Board for NEOM Includes Diverse Experts
     

    The Saudi government has appointed a global advisory board for Neom, the kingdom’s $500 billion city of the future planned for Saudi Arabia’s northwest coast near Egypt on the Red Sea. The board is composed of experts in a variety of sectors – including urban planning, architecture, design, technology, sustainability, energy and manufacturing – to provide […]

     

MUST-READS

  • Gulf monarchies and the eastern Mediterranean: Growing ambitions – Europe, Turkey, and new eastern Mediterranean conflict lines

    In November 2019, Turkey signed a deal with Libya’s Tripoli government demarcating new maritime borders between the two countries that cut through Greek territorial waters. This move – which formed part of Turkey’s response to being cut out of the EastMed gas project – is likely to deepen the fault line.

  • Europe opens borders but tourists from the Middle East will have to wait

    The European Union’s 27 nations, as well as those in the Schengen passport-free travel area, which includes a few non-EU nations such as Switzerland, aren’t likely to open to visitors from outside the continent until at least the beginning of next month, or possibly later.

  • Princess Reema joins mourners in bidding adieu to Madinah nurse

    Saudi Arabia’s Ambassador to the United States Princess Reema Bint Bandar joined scores of mourners in bidding a tearful adieu to the Saudi female nurse Nujood Al-Khaibari who succumbed to coronavirus last week. “We mourn Nujood’s loss and remember her brave sacrifice; healthcare heroes are battling the global#Covid19 pandemic. Rest in peace #Nurse Nujood AlKhaibari,” the princess said in her tweet.

  • Abu Dhabi to open museums, cultural sites at 40% capacity

    Abu Dhabi's Department of Culture & Tourism (DCT) has issued regulations for opening museums and cultural sites in the emirate, as part of its efforts to relax restrictions and continue business operations while taking several measures to mitigate the impact of the ongoing COVID-19 pandemic.

  • EU rejects any US attempt to invoke Iran nuclear deal

    The European Union’s top diplomat said Tuesday that since the United States has already withdrawn from an international agreement curbing Iran’s nuclear ambitions, it can't now use its former membership of the pact to try to impose a permanent arms embargo on the Islamic Republic.

  • Food wastage in Saudi, UAE significantly higher than in US and Europe

    From an economic sustainability standpoint, food waste can erode a major portion of national revenues for countries, creating unnecessary demand for surplus food that can then increase a dependence on imports, the report said.

  • Total number of coronavirus cases in Gulf Arab states surpasses 200,000: Reuters tally

    The number of coronavirus cases in the six Gulf Arab states doubled in less than a month to surpass 200,000 on Wednesday, according to a Reuters’ tally, at a time the region’s two biggest economies move to resume activity. Coronavirus infections in the energy producing region, which crossed the 100,000 mark on May 11, had initially been linked to travel but then spread among low-income migrant workers in overcrowded quarters, prompting authorities to increase testing.

  • European leaders urge Netanyahu against West Bank annexations

    Several European leaders have sent personal letters to Israeli Prime Minister Benjamin Netanyahu in recent days warning him against annexing parts of the West Bank, Israeli and European officials tell me.

  • Russian Gas Flows to Europe Plunge After Prices Collapse

    Natural gas flows from Europe’s biggest supplier slumped after a price rout and with storage sites at above-average levels. Flows from Russia via the Yamal-Europe pipeline that runs across Belarus and Poland to Mallnow, Germany, slumped to zero Tuesday after a sharp decline since Sunday. Shipments into Baumgarten in Austria, a major European hub for Russian gas, fell by 25% from its 10-day average.

  • Egypt Sells $5 Billion Eurobond in Its Largest-Ever Issuance

    Egypt raised $5 billion in its largest-ever issuance in international bond markets, marking the extent of investors’ risk appetite in a recovery from the coronavirus crisis. The issuance was more than four times subscribed, with total bids of $22 billion, “reflecting the confidence of the international markets in the Egyptian economy,” the Finance Ministry said Friday in a statement. Asian, African, American, European and Middle East investors were among those showing demand, helping the country cut final yields on each of the notes by 50 basis points, the ministry said.