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  • Oil Revenues Above Saudi Budget Breakeven Price Will Go to PIF Coffers, Al Tuwaijri Says
     

    Steadily climbing oil prices over the past year may help increase cash in Saudi Arabia’s massive Public Investment Fund (PIF), according to comments by Mohammed Al Tuwaijri, the kingdom’s minister of economy and planning. “Whenever oil is above our break-even point, this will all go to the PIF,” he said, as reported in the Financial Times, without […]

     
  • Saudi Arabia, United Kingdom Pledge Billions in Bilateral Trade and Investments
     

    Saudi Arabia and the United Kingdom re-affirmed bi-lateral trade and investment ties on the second day of Crown Prince Mohammed bin Salman’s visit in London with billions in deals eyed in the coming years. Saudi Arabia’s crown prince and the U.K.’s prime minister launched an economic and investment partnership called the U.K.-Saudi Arabia Strategic Partnership […]

     
  • Saudi Officials, Current and Former, Downplay Oil Demand Concerns
     

    Saudi officials downplayed the risk of waning demand for oil as electric vehicles become more mainstream, according to comments made by Saudi Aramco’s CEO Amin Nasser and by former Minister of Petroleum Ali Al Naimi. According to comments at the CERAWeek by IHS Markit conference on Tuesday reported by Bloomberg, Nasser said he is “not […]

     
  • Crown Prince Mohammed bin Salman Visits UK on Wednesday with Billions in Deals Eyed
     

    Saudi Arabia’s Crown Prince Mohammed bin Salman will arrive to the United Kingdom on Wednesday, his second stop in a multi-national tour with a broad economic and diplomatic agenda. The Crown Prince is due to meet Prime Minister Theresa May and other senior ministers, members of the royal family, as well as security officials and […]

     
  • Flurry of Deals as Crown Prince Mohammed bin Salman Visits Egypt
     

    After a unique military escort given by Egyptian fighter jets and a warm welcome from Egypt’s top leaders upon arrival, Saudi Arabia’s Crown Prince Mohammed bin Salman wasted little time in dealmaking with Egypt’s President Abdel Fattah El-Sisi. The two countries moved forward on several major agreements. Saudi Arabia and Egypt agreed to set up a $10 […]

     
  • Soft Opening for New $7.2 Billion Jeddah Airport Set for May
     

    Jeddah’s King Abdulaziz International Airport is set to unveil its long-awaited new look at a soft opening in May, the Jeddah-based Saudi Gazette reports, citing confirmation by the General Authority of Civil Aviation (GACA) and the emir of Mecca. Once recognized by travelers as one of the worst airports in the world, Saudi Arabia’s second largest city is […]

     
  • Another Opening for Saudi Women as Government OKs Women in Security Forces
     

    Saudi’s General Security division announced that soldier rank positions will be available for Saudi women in several different regions of the country, as the Kingdom continues opening up new professions for Saudi women. Saudi women who meet twelve different standards will now be permitted to serve in security forces in soldier rank positions. According to reports, […]

     
  • New Body in Saudi Labor Ministry Created to Fight Rising Unemployment in Saudi Arabia
     

    Saudi Arabia’s cabinet announced the creation of a new body within the labor ministry to combat an increase in joblessness in Saudi Arabia and a seeming reluctance by Saudis to take available jobs, according to a report. Unemployment in Saudi Arabia has risen slightly since the announcement of Saudi Arabia’s Vision 2030 and National Transformation Program, […]

     
  • Major Leap for Saudi Economy as Kingdom Set to Introduce Bankruptcy Laws
     

    Saudi Arabia’s cabinet has approved a bankruptcy law that is likely to be a boost to the Kingdom’s efforts to attract investment and provide protection for entrepreneurs, according to reports. King Salman has reportedly endorsed the new law. As Reuters reports, modern bankruptcy legislation does not currently exist in Saudi Arabia, which creates difficulties for struggling companies seeking to restructure […]

     
  • Saudi Films on Display in Los Angeles for Second Annual Young Saudi Film Festival
     

    Six films from Saudi Arabia will headline the second annual Young Saudi Film Festival in Los Angeles this week, as the Kingdom looks to expand its entertainment offerings back home. The festival, run by the New York Film Academy (NYFA), will also showcase two films from Egypt. The eight short films range from five to 20 […]

     

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  • Real Estate
    Saudi Arabia’s Sedco Capital eyes $300 mln Europe real estate deal

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  • Riyadh Metro
    Saudi capital’s $22.5 billion metro a ‘race against time’

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  • Syrian Refugees
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  • Tadawul Opening
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    The Saudi capital markets regulator is seeking the opinions of stock market analysts, economists and a host of other local financial experts on final steps to liberalize the country’s stock market for foreign investment, informed sources have told Asharq Al-Awsat, as the bourse prepares to launch the region’s biggest-ever IPO later this month.

  • Saudi Aramco
    Saudi Aramco capitalises on geography

    “Saudi Aramco’s entry into the petrochemical space is quite recent, since their facilities first started operations in 2007, so their rapid growth in the space is quite remarkable,” said Sanjay Sharma, vice president, Middle East and India at IHS Chemical. “Saudi Aramco is pursuing a business strategy that identifies advantaged feedstock and optimises the linkages between refinery, gas processing operations, and petrochemicals. This trend of integrating refineries and petrochemicals is common in other regions, but is a more recent trend in the Middle East, which is leading to more aromatics and derivatives production.”

  • Refining Capacity
    Saudi Refinery Hits Capacity as Total, Vitol See EU Slump

    The Satorp refinery, a venture between Total and Saudi Arabian Oil Co., processed crude at full capacity of 400,000 barrels a day on Aug. 1, Patrick Pouyanne, Total’s president of refining and chemicals, said at a conference in Brussels today. Europe’s refineries are too small and not sophisticated enough to compete with new plants, Chris Bake, executive director at Vitol, the world’s largest oil trader, said at a separate conference in Fujairah, in the United Arab Emirates.