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Saudi AramcoSaudi Aramco Plans To Invest $40B A Year For The Next Decade
Saudi Aramco, the world's biggest oil producer, plans to invest $40 billion a year over the next decade to keep oil production capacity steady and double gas production, Chief Executive Khalid Al-Falih said. "Although our investments will span the value chain, the bulk will be in upstream, and increasingly from offshore, with the aim of maintaining our maximum sustained oil production capacity at twelve million barrels per day, while also doubling our gas production."
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HajjSaudi set to earn $8.5 bn from hajj
The study was based on estimates that 1.98 million pilgrims will travel to the holy Muslim city of Mecca, including 1.38 million, or 70 percent, from abroad.
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TASI OpeningA note of caution for foreign investors on Saudi bourse
Moreover, in order to protect assets in holy cities from non-Muslims, a restriction has been placed on shares in real estate firms from Mecca and Medina, such as Makkah Construction and Development Co. and Taiba Holding.
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Saudi-IranIran deputy foreign minister to visit Saudi Arabia
Iran's deputy foreign minister will visit Saudi Arabia on Tuesday for the first bilateral talks between the Middle East's most intractable Muslim rivals since Iran's political landscape shifted in 2013, media in both countries reported.
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ExtremismSaudi jails 17 for up to 33 years for terrorism offenses
A Saudi special court sentenced 17 people to between nine and 33 years in jail for joining a "terrorist cell" in the kingdom and fighting abroad, state news agency SPA reported Monday.
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OilSaudi Aramco Chief Executive Warns on Oil Supply
The chief executive officer of Saudi Aramco, the world's biggest oil producer, said Monday that worries such as rising oil-sector costs and global turmoil could lead to a lack of oil supplies down the line, if oil companies fail to make sufficient investments.
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LaborContractors in Saudi Arabia welcome foreign firms, demand equal treatment
Several Saudi contractors have said they are not against the Council of Ministers’ decision to allow foreign contractors to enter the Saudi market as long as they are given equal opportunities. They said all local contractors are hoping for the same treatment foreign contractors will be given and that the Ministry of Labor should grant local contractors the necessary visas to allow them to recruit workers.
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TASISaudi Arabia Drafts Foreign Limits for $580 Billion Bourse – Bloomberg
The QFIs’ holdings may not exceed 10 percent of the market value, including interests under swaps, they said. The Saudi bourse has a market capitalization of more than $580 billion. “For Saudi to begin like this is a positive start,” Ahmed Badr, Dubai-based head of MENA equities at Renaissance Capital Ltd., said by phone. “It’s a big enough slice of the pie.”
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Counter-TerrorismSaudi counterterror donation sends ideological message
"I think it's becoming clear that Saudi officials are frustrated with the lingering perception among some – especially in the West – that the Saudi government helped create ISIS and that it supports it financially," says Fahad Nazer, former analyst at the Saudi embassy in Washington. "I think the Saudis view themselves as being at the forefront of the global effort to combat terrorism. This donation and the center itself, which was proposed by [Saudi] King Abdullah in 2005, are indicative of what appears to be a sincere commitment to fight Al Qaeda and its affiliates.
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Paris Robbery‘All the Elements of a Hollywood Thriller’ – Saudi Prince’s Convoy Attacked by Gunmen in Paris
The brazen robbery had all the elements of a Hollywood thriller: a commando-style ambush by a group of thieves wielding Kalashnikov rifles, a suitcase stuffed with cash, sensitive diplomatic documents and a likely shaken Saudi prince.
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