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  • Saudi Arabia leads GCC IPO momentum in Q2 2024
     

    In Q2 2024, the GCC witnessed a significant uptick in IPO activity, with 13 listings raising a combined $2.64 billion. This surge in capital was primarily focused on the healthcare, education, and technology sectors.

     
  • Saudi Arabia announces Labor Law amendments to improve work environment
     

    The Ministry of Human Resources and Social Development said the new amendments encompass 38 articles, deleting seven articles, and adding two new articles to the Labor Law. The new amendments will be effective after 180 days from the date of their publication in the official Gazette.

     
  • Chinese Language Instruction in KSA
    • August 6,2024
    • •
     

    During Saudi Crown Prince Mohammed bin Salman’s State Visit to China in February 2019 Saudi Arabia and China agreed to include the Chinese language as a curriculum at all stages of education in schools and universities across the Kingdom.

     
  • Saudi Arabia Officially Submits Bid to Host the FIFA World Cup 2034
     

    The Kingdom of Saudi Arabia has submitted its official bid to FIFA to host the FIFA World Cup 2034 at a ceremony hosted by the Fédération Internationale de Football Association (FIFA) in Paris, France. The bid book was submitted by an official delegation led by His Royal Highness Prince Abdulaziz bin Turki bin Faisal Minister […]

     
  • U.S. Exports to the Arab World Jump By 12% to $65.3 Billion
     

    The National U.S.–Arab Chamber of Commerce (NUSACC) reported that, according to data released last month by the U.S. Census Bureau, U.S. goods exports to the Arab world jumped 12 percent to $65.3 billion in 2023.

     
  • Saudi Arabia combats desertification while also reforesting coasts
     

    The National Center for Vegetation Cover Development and Combating Desertification (NCVC) of Saudi Arabia was established in 2014 by the Council of Ministers to manage and invest in the country’s vegetation cover and combat desertification.

     
  • With transfer season underway Saudi Professional League evolves strategy
     

    The SPL has shifted from last year’s extensive talent acquisition—where 97 players were signed—to a more strategic approach this season. The Saudi transfer window opened on July 18 and will close on September 2, aligning with European leagues. This change indicates a focus on filling specific gaps and enhancing overall team quality rather than a […]

     
  • Aquaculture in KSA
     

    Saudi Arabia’s aquaculture sector has witnessed remarkable growth in recent years, with production increasing by 400% between 2015 and 2022. This rapid expansion can be attributed, in part, to a concerted effort from public and private stakeholders to bolster food security in the region, improve economic diversification, and reduce overreliance on food imports.

     
  • World Bank Lauds KSA for Breakthrough Pension Reforms
     

    Saudi Arabia took a big leap forward in transforming its pension system with the recent announcement of comprehensive reforms, designed with support from the World Bank, aimed at enhancing income protection during old-age, but also promoting gender equality. 

     
  • MSCI Emerging Markets Index – Saudi Equities Five Years After Inclusion
     

    Since May 2019, the MSCI Saudi Arabia and MSCI Tadawul 30 Indexes and the MSCI Saudi Arabia Investable Market Index (IMI) have outperformed the MSCI Emerging Markets IMI. Also, Saudi Arabia’s equity market has expanded to offer investors more-diversified sector exposures.

     

MUST-READS

  • Pope Francis calls for climate change action during Istiqlal Mosque visit

    Pope Francis on Thursday invited Muslims and Catholics to push global leaders to confront the dangers of climate change and extremism, and spoke of the common roots of different religious beliefs as he visited Southeast Asia's largest mosque in Jakarta. In a day laden with religious symbolism on his trip to Indonesia, the world's most populous Muslim-majority country, the pope issued a joint declaration with the national grand imam and other local faith leaders that called for "decisive action" to address the warming planet.

  • Oman announces major changes to foreign investment rules

    The move offers opportunities for SMEs owned by Omanis to contest most business sectors, the decision lays emphasis on ensuring that the projects and activities related to the national identity and Omani heritage shall not be compromised.

  • Baker Hughes says US oil rig count unchanged for second week

    The US drilling rig count remained unchanged for the second straight week at 483 in the week ended Aug. 30. Meanwhile, the gas rig count declined by two to 95, the lowest level since April 23, 2021 (94 rigs).

  • Saudi Ambassador to EU says Schengen visa issuance unchanged

    Saudi Ambassador to the European Union Haifa Al-Jedea said that the Schengen visa is still issued in the usual way by visiting the headquarters of European embassies, denying the launch of a system to issue it electronically.

  • Saudi Arabia changes senior military commanders

    Saudi Arabia issued royal decrees announcing changes to the heads of its joint forces, navy and land forces, state news agency SPA reported on Thursday.
    The chief of general staff, Lieutenant-General Fayyad bin Hamed al-Ruwayli, was left in place. The next most senior military role, commander of the joint forces, will be taken by Lieutenant General Fahd bin Hamad bin Abdulaziz Al-Salman, who was promoted from a major general, the decree said.

  • Saudi Ambassador to EU says Schengen visa issuance unchanged

    Saudi Ambassador to the European Union Haifa Al-Jedea said that the Schengen visa is still issued in the usual way by visiting the headquarters of European embassies, denying the launch of a system to issue it electronically.

  • Top US general says risk of broader war eases a bit after Israel-Hezbollah exchange

    Air Force General C.Q. Brown, chairman of the Joint Chiefs of Staff, spoke to Reuters after emerging from a three-day trip to the Middle East that saw him fly into Israel just hours after Hezbollah launched hundreds of rockets and drones at Israel, and Israel's military struck Lebanon to thwart a larger attack.It was one of the biggest clashes in more than 10 months of border warfare, but it also ended with limited damage in Israel and without immediate threats of more retaliation from either side.

  • Israel and Hezbollah in major missile exchange as escalation fears grow

    Hezbollah launched hundreds of rockets and drones at Israel early on Sunday, as Israel's military said it struck Lebanon with around 100 jets to thwart a larger attack, in one of the biggest clashes in more than 10 months of border warfare. Missiles were visible curling up through the dawn sky, dark vapour trails behind them, as an air raid siren sounded in Israel and a distant blast lit the horizon, while smoke rose over houses in Khiam in southern Lebanon.

  • Climate change, security take top billing as Pacific Island leaders prepare to meet

    Climate change and security will dominate discussions at next week's meeting of Pacific Islands leaders in Tonga as China and the United States jostle for influence in the region. The chairman of the Pacific Islands Forum, Cook Islands Prime Minister Mark Brown, told foreign ministers from the 18 member nations this month "regional solidarity amidst the ever-increasing geostrategic interest, navigating the ongoing climate crisis and managing emerging challenges" are top priorities.

  • Saudi Arabia’s series of law changes eases entry for investment and companies

    Two important laws that came out in the past week include an update to the new investment law which puts Saudi and non-Saudi investors on an equal footing and the amendments to the labour law that are expected to benefit employees and employers and enhance their relationship. As part of the law, there will no longer be a system of getting a foreign investment licence, instead, there will be an investment register that's operated by the Ministry of Investment.