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  • Photos of Crown Prince Mohammed bin Salman, Top Saudi Leaders Visiting Remote Northwest Saudi Arabia Go Viral
     

    Photographs of Crown Prince Mohammed bin Salman and some of Saudi Arabia’s top officials visiting some of Saudi Arabia’s most famous mountains in the Northwest region of the country have gone viral on social media. The photos showing casually-dressed Saudi ministers and officials were taken last Summer by royal photographer Bandar Al-Jaloud at Jabal Al-Lawz (Almond Mountain) […]

     
  • King Salman Announces ‘Sweeping’ Cabinet Reshuffle Affecting Top Domestic, Foreign Policy Posts
     

    King Salman announced on live TV on Thursday a major and sweeping reshuffling of top cabinet positions in Saudi Arabia, the first such change in leadership since June. The royal decree replaces Saudi Arabia’s Foreign Minister Adel Al-Jubeir with former finance minister Ibrahim Al-Assaf. Al-Assaf was detained, then released within weeks of his detention at Riyadh’s Ritz-Carlton […]

     
  • Saudi Arabia’s Collections from VAT Double Expectations in 2018; Foreign Investment Rebounds
     

    Foreign investment into the Kingdom and VAT collections both more than doubled in 2018 over the previous year, government officials revealed this week as information regarding the Kingdom’s 2019 budget are published. Reuters reports that the Kingdom saw a rebound in foreign investment into Saudi Arabia in 2018 to 13 billion riyals ($3.5 billion), more than […]

     
  • Looking toward Africa, Saudi Seeks Red Sea Political, Economic Bloc
     

    Saudi Arabia is seeking a political and economic alliance with six countries bordering the Red Sea and the Gulf of Aden in a move aimed at strengthening its interests in the crucial waterway and in Africa, according to reports. Representatives from Egypt, Djibouti, Somalia, Sudan, Yemen and Jordan gathered in Riyadh on Wednesday to discuss the initiative, […]

     
  • Saudi Arabia to Host G20 Summit Meetings in 2020
     

    The final communiqué of the G20 summit, which concluded this weekend in Buenos Aires, Argentina, confirmed that Saudi Arabia will host the summit in 2020. Hosting the major event involving the world’s largest economies is an opportunity for the Kingdom to showcase Saudi’s standing as a key player in the G20 and a force for economic stability. Saudi […]

     
  • Saudi Aramco Aims to Invest $150b to Become Gas Exporter – CEO
     

    Saudi Aramco’s gas expansion strategy needs $150 billion (117.55 billion pounds) worth of investments over the next decade as the company plans to increase output and become an exporter, Reuters reports, citing CEO Amin Nasser’s comments at an industry event in Dubai. Aramco is pushing ahead with its conventional and unconventional gas exploration and production program […]

     
  • 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 […]

     
  • 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 […]

     
  • Crown prince chairs first meeting on reform of Saudi intelligence services
     

    Saudi Crown Prince Mohammed bin Salman chaired the first meeting on Thursday of a special committee to reform Saudi Arabia’s intelligence services. The restructuring was ordered by King Salman after the murder in Istanbul of Saudi journalist Jamal Khashoggi. According to Arab News, the committee “assessed the General Intelligence Presidency’s current organizational structure and identified […]

     
  • 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

  • Saudi Arabia Data Center Investment Analysis Report 2021: Market will Witness Investments of $1180 Million by 2026

    Saudi Arabia data center market size will witness investments of USD 1180 million by 2026, growing at a CAGR of 7.85% during the period 2021-2026.

  • Saudi Venture Capital launches new investment funds

    Since its launch in 2018 SVC has invested SR2.8 billion in Saudi startups and SMEs. “Funds that offer debt instruments and venture capital instruments still represent a financing gap in the venture capital and growth investment system in the Kingdom, and debt instruments and venture capital instruments have emerged globally as an extension of the evolution of the venture capital and growth investment system,” SVC CEO Nabeel Koshak said.

  • Saudi looks to greener pastures as it boosts recycling investment

    Saudi Arabia will look to invest almost SR24 billion ($6.4bn) in waste recycling by 2035 as the country attempts to move to a more sustainable waste management system. It will invest around SR1.3 billion ($346.6 million) in construction and demolition waste, and about SR900 million in industrial waste, while investments in municipal solid waste will exceed SR20 billion, and investments in other waste will exceed SR1.6 billion, Saudi Investment Recycling Company (SIRC) CEO, Ziyad Al-Shiha said.

  • Italy’s Saipem signs investment MoU with Saudi Aramco

    Saipem, which has a framework agreement with Saudi Aramco it renewed earlier this year, has a fabrication yard in Saudi Arabia. A market leader in subsea exploration and construction, Saipem is looking to develop new lines of business to meet an increasing client focus on green technologies.

  • KAPSARC analyzes sectoral investment in Saudi Arabia for 8 non-oil sectors

    Sector-specific tailored investment policies are preferable to a one-size-fits-all investment policy. Therefore, tailored, sector-specific policy measures should be considered. The study mentioned that the depreciation of the riyal in real terms benefits non-oil tradable sectors, such as agriculture and non-oil manufacturing.

  • Saudi mining law will attract ‘incredible’ private investment to $1.3 trillion sector: Golden Compass CEO

    Saudi Arabia’s new mining law will attract private investment from home and abroad as the Kingdom looks to exploit an estimated $1.3 trillion of potential value in the sector, according to Meshary Al-Ali, founder and CEO of mining consultancy Golden Compass. In January, the Kingdom moved to capitalize on the vast wealth hidden below ground in Saudi Arabia with the establishment of a mining fund and support for geological surveys and exploration program activities.

  • New Saudi committee tasked to regulate foreign investments as Kingdom opens up

    Saudi analyst Al-Suwayed said: “The committee is made to deal with the implications of national security and national resources including natural and critical types of resources.” He said the decision to create the committee will protect the Kingdom from “broader political risk” if critical services such as utilities are controlled by foreign businessmen.

  • A $550bn project: inside the US’s massive clean energy investment

    In July, the US Senate passed a massive $550bn clean energy investment bill, a plan dubbed a “once-in-generation investment” by the White House to dramatically improve the US’s clean energy landscape. On paper, the bill ticks all the boxes, with $73bn set aside for clean energy generation, and a further $7.5bn for electric vehicles, as the US looks to improve its environmental performance across all levels of its society.

  • US Halliburton plant in Saudi Arabia under construction with over $100m investments

    One of the world's largest oil field service companies, US Halliburton, is building its first plant in the Middle East in Saudi Arabia, with investment exceeding $100 million, company sources told Asharq. Halliburton is close to completing the construction of the first reactor plant for the manufacture of chemicals in King Salman Energy City "Spark" in Jubail, and production will begin in the first quarter of 2022, through the manufacture of specialized chemicals locally, the sources said.

  • Saudi Investment Fund Taps Teneo for $3M Projects

    Saudi Arabia’s Public Investment Fund has awarded Teneo two contracts for international communications and stakeholder engagement services worth nearly $3M. The “Focused Strategy and Structure Diagnostic Project” is pegged at $1,860,000, while “Project Wedge” is valued at $837,500. Both pacts went into effect Aug. 25. The goal is to position the PIF as a sophisticated global investment organization with a solid track record and targeted strategy.