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  • Saudi oil sales to U.S. robust despite refinery upsets
     

    Saudi Arabia appears to be keeping its pledge to ensure global markets are well supplied with oil, barely letting up in shipments to the United States even after two of its biggest refining customers suffered crippling glitches. A Reuters analysis of U.S. import data shows sales to the world’s top oil consumer have dipped less […]

     
  • Public policy considerations in Saudi Arabia’s new Arbitration Law
     

    We see plenty of coverage these days of Saudi Arabia’s growing economy; and justifiably so.  Expansionary government spending, elevated oil prices, a strong banking system, a maturing private-sector, increasing diversification, growing foreign investment and other factors contribute to an exciting period for Saudi Arabia. While elevated oil prices have fueled Saudi Arabia’s impressive recent growth, […]

     
  • Dubai and Saudi Chambers seek stronger ties
     

    To share expertise and best practice across the GCC region, Dubai Chamber of Commerce and Industry hosted a delegation led by the Council of Saudi Chambers at its head office recently. The group of 17 senior officials from various Saudi chambers of commerce, led by Omar A. Bahlaiwa, Secretary General of the Council of Saudi […]

     
  • Saudi market opening to take ‘a while’ as conditions debated
     

    Saudi Arabia — the largest, most liquid and yet least accessible stock market in the Arab world — is considering opening its stock market to foreign investors in a move that could help turn the local market into a regional trading hub. But when the kingdom will make its final decision on this proposal, which […]

     
  • Jadwa Investment: Shifts in Foreign Investor Flows and the TASI
     

    A recently released Jadwa Investment report discusses shifts in foreign investment in the Saudi stock market, also known as the TASI. “Big changes in foreign investment in the Saudi stock market tend to come ahead of moves in the TASI, meaning that local investors can benefit from tracking what foreign investors are doing. In six of the seven […]

     
  • High capital/solid profitability: Saudi banking system remains stable
     

    The outlook for Saudi Arabia’s banking system remains stable, says Moody’s Investors Service in a new Banking System Outlook. The key drivers of the outlook are (1) a benign operating environment; (2) low problem loan levels; (3) strong loss-absorption capacity, underpinned by high capital buffers and solid profitability; and (4) the sector’s stable, low-cost deposit […]

     
  • GE Sees Gas Turbine Sales Gain Amid Saudis’ Solar Shift
     

    General Electric Co. GE predicts demand for its gas turbines will increase in Saudi Arabia, even with the kingdom working to supply a third of power needs from solar energy within the next two decades. Saudi Arabia already has 500 installed gas turbines from GE that generate about half its electricity, and the Middle Eastern […]

     
  • Modernity and tradition: Khalid Habash’s stunning photos of Saudi
     

    It is no secret that Saudi Arabia’s economy and society are modernizing at a remarkable pace. Already the Arab world’s largest economy, the Kingdom also has one of the world’s highest GDP growth rates.  Government spending is expansive and investment in infrastructure, education and numerous other sectors are at all time highs.  Soon to be […]

     
  • Confronting Tremendous Challenges: Prince Turki al-Faisal
     

    I think Saudi Arabia over the past 80 years has been going through an Arab Spring. When you look at the Kingdom when I was born in it for example, 1945, there were no schools in Saudi Arabia. There were no roads. Disease and poverty were the rule rather than the exception. Since then, the […]

     
  • US Eximbank OKs record-breaking $5 bln loan for Saudi petchem complex
     

    In its largest job-supporting authorization to date, the board of the Export-Import Bank of the United States (Ex-Im Bank) has approved a $4.975 billion direct loan to Sadara Chemical Company for the export of American goods and services required in the construction of a petrochemical complex in Jubail Industrial City II in the Kingdom of […]

     

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  • Syria’s opposition calls for fresh talks with Assad government

    "The international, regional and Syrian conditions provide an appropriate circumstance for the resumption of direct negotiations... under a specific agenda and timetable," the Syrian Negotiation Commission (SNC) said in a statement. Negotiations to resolve Syria's crisis hit an impasse in 2018 over Assad's role in any political transition, and several rounds of subsequent UN-brokered talks aimed at forging a new constitution have failed.

  • OpenAI mulling Israel investment opportunities, Microsoft says

    OpenAI is considering investment opportunities in Israel, Microsoft Israel R&D center quoted the company's CEO, Sam Altman, as saying during a visit to the country on Monday. Microsoft, an OpenAI backer, hosted Altman at its Israel headquarters.

  • Qatar’s labour minister elected as president of ILO conference for first time

    Qatar’s Labour Minister Ali bin Samikh Al-Marri has been elected as the president of this year’s International Labour Conference by delegates at the International Labour Organization (ILO) on Monday. “Qatar, represented by His Excellency Dr. Ali bin Samikh Al-Marri, Minister of Labour, assumed the presidency of the 111th session of the International Labour Conference, for the first time since the establishment of the organisation in 1919,” the Ministry of Labour (MOL) said in a statement.

  • Saudi Arabia’s $650mln Jubail 3A desalination plant commences full operation

    Saudi Arabia’s 600,000 cubic metres/day (m3/day) Jubail 3A independent water plant (IWP) plant has commenced full operations after receiving the commercial operation certificate from state-run Saudi Water Partnership Company (SWPC), ACWA Power said in a statement. The $650 million greenfield project , also known as Jazlah Water Desalination Company, was delivered by a consortium comprising ACWA Power (40.2 percent), Gulf Investment Corporation (40 percent), and AlBawani Water & Power Company (19.8 percent). The consortium had bid a record low tariff of $0.41/m3 to win the desalination project, which will deliver potable water to three million people in Riyadh and Qassim regions.

  • Saudi Arabia announces mandatory employment test for Indians: Report

    Launched in 2021, the Skill Verification Program (SVP) aims to ensure that only qualified professionals are allowed to work in Saudi Arabia

  • Saudi Arabia warns Snapchat users that ‘insulting’ regime is a criminal offense

    Saudi state media issued an explicit warning that it is a criminal offense to “insult” authorities using social media apps such as Snapchat, the California-based messaging app whose chief executive recently forged a new “cooperation” deal with the kingdom’s culture ministry. The threat – which was originally televised in April and then deleted – has gained new resonance as more cases emerge in which Snapchat users and influencers in the kingdom have been arrested by authorities and, in some cases, sentenced to decades-long prison sentences.

  • Venezuela’s Maduro visits Saudi Arabia – state media

    Venezuelan President Nicolas Maduro arrived in Saudi Arabia on Monday, state media reported, as the kingdom continues to expand its diplomatic outreach beyond traditional Western alliances. Maduro was received at the airport of the Saudi Red Sea city of Jeddah by Deputy Governor of Mecca region Prince Badr bin Sultan and other officials, Saudi state news agency SPA said. Venezuela's Maduro is the latest U.S. foe to visit Saudi Arabia as the kingdom rebuilds alliances without the blessing of the United States, its long-time ally. Riyadh has restored ties with Iran and Syria over the last months and strengthened its cooperation with China and Russia.

  • Russian minister attends meeting of developing economies as bloc discusses adding Saudi Arabia, Iran

    Russian Foreign Minister Sergey Lavrov met Thursday with China’s deputy foreign minister and other top diplomats from the BRICS bloc of developing economies for discussions that included the group’s possible expansion to include the major oil-producing nations of Saudi Arabia, Iran and the United Arab Emirates.

  • A Plan to Avert a Vast Oil Spill Off Yemen Moves Ahead

    A decaying tanker holds about four times the amount of oil leaked in the 1989 Exxon Valdez disaster. Experts have warned that it is an ecological time bomb that could explode or disintegrate at any moment.