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  • Government debt instruments set to debut on Saudi Exchange

    Saudi government-issued debt instruments worth SR5.17 billion ($1.37 billion) are set to be listed on the Kingdom’s stock exchange, following the latter’s approval of the Ministry of Finance’s request. The breakdown of this valuation includes two distinct offerings: the first, Issuance Number 10-01-2024, amounts to SR2.82 billion, and the second, Issuance Number 15-01-2024, is valued at SR2.35 billion. Saudi Exchange said in a statement that this approval is in accordance with the established listing rules, and the trading is scheduled to commence on Jan. 22, 2024.

  • Saudi Arabia announces major change to recruitment in Philippines, Sri Lanka, Bangladesh and 3 more countries

    The Ministry of Human Resources and Social Development recently announced a reduction in the maximum limits for recruiting domestic labour services in several countries, namely the Philippines, Sri Lanka, Bangladesh, Uganda, Kenya, and Ethiopia.
    This measure is aimed at ensuring fairness in recruitment costs and is part of the Ministry’s broader initiative to review applicable regulations and associated costs.

  • Saudi Arabia, Canada agree to re-exchange trade delegations

    Saudi Arabia and Canada have agreed to re-exchange trade delegations after it was suspended for five years. The Federation of Saudi Chambers of Commerce said it signed a memorandum of understanding with the Canadian side to form a joint Saudi-Canadian Business Council. The move came amid Riyadh and Ottawa resumed full diplomatic ties last year.

  • Saudi Arabia agreed with Canada to re-exchange trade delegations

    Saudi Arabia agreed with Canada on re-exchanging trade delegations after 5 years of suspension after the two countries restored full diplomatic ties last year, the Saudi state TV said on Thursday. The Federation of Saudi Chambers of Commerce signed an agreement with the Canadian side to form a joint Saudi-Canadian business council, the TV added.

  • Kuwait’s New Emir: A Frank Speech Signals a Sharp Change in Direction

    Kuwait's new emir, Meshal al-Ahmed al-Jaber al-Sabah, announces an end to the current populist terms of engagement with the Parliament, which seems to suggest a forceful corrective – and perhaps more domestic strife – to come.

  • In Saudi Arabia’s stellar soccer year, federation boss sees 2034 World Cup fueling more rapid change

    Saudi Arabia’s ambitions in soccer were made stunning and clear in 2023, and its upcoming 11-year journey toward hosting the men’s World Cup promises much more of the same. In an interview Thursday with The Associated Press, Saudi soccer federation president Yasser Al Misehal said sport and society in the oil-rich kingdom are going through transformational changes ahead of staging soccer’s biggest event in 2034. “We are trying to do everything for our people, for our economy and also we want to host as many people from all different places in the world,” Al Misehal said.

  • Biden says Netanyahu must change, Israel losing global support

    U.S. President Joe Biden said on Tuesday that Israel is losing support over its "indiscriminate" bombing of Gaza and that Benjamin Netanyahu should change, exposing a new rift in relations with the Israeli prime minister.

    Biden's remarks, made to donors to his 2024 re-election campaign, were his most critical to date of Netanyahu's handling of Israel's war in Gaza. They are a stark contrast to his literal and political embrace of the Israeli leader days after Hamas militants' Oct. 7 attack on southern Israel.

  • In Libya, fears of rain, clouds, and climate change

    Three months after thousands of people in Libya lost their lives in devastating floods caused by Storm Daniel, residents of the badly-hit city of Derna are facing the psychological aftermath. Doctors and psychologists with Doctors Without Borders/Médecins Sans Frontières (MSF) have been providing medical care and mental health support for people impacted.

  • Asia’s first Saudi Arabia ETF lists on Hong Kong stock exchange

    Asia’s first exchange traded fund investing solely in Saudi Arabia’s equities market has listed on the Hong Kong exchange attracting $1bn in initial investment, marking one of the territory’s largest ever debuts. The CSOP Saudi Arabia ETF was launched on the back of strong government support, after more than a year of high-level efforts by senior Hong Kong officials attempting to woo investment from the Middle East. The ETF invests in a portfolio correlated to the FTSE Saudi Arabia Index, which has a market capitalisation of more than $270bn and aims to align with the Saudi Vision 2030 project, Crown Prince Mohammed bin Salman’s road map for economic diversification and global engagement.

  • MBC Group Floats 10% Stake On Saudi Stock Exchange

    Shareholders at Saudi Arabian media giant MBC Group are seeking to raise as much as $222 million by listing the company on the Saudi Exchange, known as Tadawul. We reported on plans for the public offering earlier this month. The broadcaster is selling 33.25 million new shares, equivalent to 10 per cent of its total capital. The price range for the sale has been set between 23 and 25 riyals a share. HSBC Saudi Arabia is the lead manager on the sale alongside JP Morgan Saudi Arabia and SNB Capital, who are on board as financial advisors.