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  • Saudis Around the World Celebrate 89th National Day
     

    Saudis around the world are celebrating Saudi National day today, the Kingdom’s biggest national holiday dedicated to the history of the Kingdom as a unified state. The holiday commemorates the announcement of the Saudi Kingdom’s unification on September 23rd, 1932 by King Abdulaziz Al-Saud, who united and renamed the Kingdoms of Nejd and Hejaz to Saudi Arabia by […]

     
  • Saudi Arabia’s Financial Sector Development Program Sees ‘Fair Level of Progress’, Report Says
     

    A recently-released report from Jadwa Investment finds “a fair level of progress on most areas” in the Kingdom’s important Financial Sector Development program (FSDP), encouraging news for the diversification of Saudi Arabia’s economy and modernization of its financial sector. The FSDP, one of the Kingdom’s Vision 2030 ‘Vision Realization Programs’ (VRPs), aims to develop a diversified […]

     
  • Pompeo Calls Strikes an ‘Act of War’ as he Visits Saudi Arabia, Meets with Crown Prince
     

    Secretary of State Mike Pompeo has called the recent attacks against Saudi oil facilities an “act of war” by Iran, and met Wednesday with Saudi Crown Prince Mohammed bin Salman in Jeddah. The recent attacks “didn’t come from the Houthis,” Pompeo said Wednesday in remarks to reporters. “This was an Iranian attack…we’re blessed that there were no Americans killed […]

     
  • As Officials Gather Evidence in Saudi Oil Attacks, Trump Ratchets Up Sanctions
     

    President Donald Trump on Wednesday said he ordered a major increase in sanctions on Iran, the first response by the U.S. to the attacks on two key oil installations in Saudi Arabia, according to reports. The pronouncement by Trump comes as both U.S. and Saudi officials ready evidence that points the finger at Iran for the […]

     
  • Trump says he does not want war with Iran, but says Tehran ‘likely’ behind attacks
     

    President Donald Trump said on Monday it looked like Iran was behind attacks on oil plants in Saudi Arabia but stressed he did not want to go to war, according to reports, as the world watches how the Kingdom and its allies may respond to Saturday’s strikes. “It’s certainly looking that way at this moment,” Trump […]

     
  • Brazen Attacks on Key Saudi Oil Facilities Knock Half of Daily Saudi Production Offline, Place Region on Edge
     

    In the early hours of Saturday morning, two of Saudi Arabia’s most important oil facilities were brazenly attacked and set ablaze, causing a disruption of half of Saudi Arabia’s total daily oil production and 5% of the world’s crude supply and throwing the tense region into greater risk of conflict. The attacks on Saudi Arabia hit […]

     
  • Positive Trends Seen in Latest Data on Saudi Tourism Sector
     

    Recent data released by the Tourism Information Research Center for the Saudi Commission for Tourism & National Heritage finds encouraging data for Saudi officials hoping to attract tourism spending from abroad and entice Saudis to spend vacation locally in the Kingdom. Tourism spending in Saudi Arabia amounted to $9.6 billion during July and August of 2019 […]

     
  • First shares in Aramco will be sold on Saudi stock exchange – reports
     

    Saudi Aramco will list the first shares of the company on Saudi Arabia’s stock exchange, the Tadawul, and will do so “very soon,” the company’s CEO Amin Nasser said. The local listing is likely to precede an international one, but the company has not yet selected a location, according to reports. “The primary listing is to list […]

     
  • IMF suggests Saudi Arabia double its VAT to 10%
     

    The International Monetary Fund (IMF) suggested that Saudi Arabia would see positive economic benefits by raising its Value Added Tax (VAT) to 10% after successfully implementing a 5% VAT last year. “The introduction of the VAT in January 2018 was a landmark achievement, with revenue collections exceeding expectations,” the Washington-based lender said in a report […]

     
  • World’s Largest Fund Manager BlackRock Opens Office in Saudi Arabia
     

    BlackRock, the world’s largest fund manager, has opened an office in Saudi Arabia, according to reports, as the company continues forward with plans to capitalize on the government’s economic reforms. A company spokeswoman told Reuters the BlackRock Riyadh office had “opened recently and is headed by Yazeed Almubarak,” the news service reports. Almubarak previously worked at Morgan Stanley […]

     

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