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  • IEA report says 2030 renewable energy goals within reach
     

    Coinciding with the United Nations General Assembly in New York, the International Energy Agency (IEA) has issued ‘From Taking Stock to Taking Action’ report that concludes the goal to triple global renewable energy capacity by 2030 and cut fossil fuel use is within reach, but will require a huge push to unlock bottlenecks such as permitting […]

     
  • Saudi Arabia celebrates its 94th National Day
     

    Saudi Arabia marked its 94th National Day on September 23, 2024 commemorating the unification of the Kingdom under King Abdulaziz Al Saud in 1930. 

     
  • MBS confirms Saudi position regarding recognition of Israel
     

    In an address to the Shoura Council, Saudi Crown Prince Mohammed bin Salman said that Saudi Arabia would not recognize Israel without the establishment of a Palestinian state.

     
  • Epic Boeing 777 journey by land captivates Saudis
    • September 18,2024
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    Three retired Saudia Airlines Boeing 777s traversed Saudi Arabia by land from Jeddah to Riyadh to be part of the Riyadh Season 2024 Boulevard Runway zone. 

     
  • KSA FDI outlook
     

    Saudi Arabia’s net FDI rose 5.6% in Q1 2024 with tourism investment leading the way along with construction, electronics, and financial service sectors, among others.  The United States is the home country for 333 ongoing and announced projects; by far the leading country.

     
  • Aramco Digital and Groq to build world’s largest inferencing data center
    • September 16,2024
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    American AI chip startup Groq will partner with Aramco Digital to establish what would be the world’s largest AI inference data center in Saudi Arabia.

     
  • ‘Land is Calling’ tourism video premiers
     

    Saudi’s national tourism brand ‘Saudi, Welcome to Arabia’  premiered its new international campaign, “This Land is Calling”, launching across the United Kingdom, France, Italy, Germany, and the United States. 

     
  • Saudi Arabia’s Energy Efficiency Drive – ESCO Awards
     

    In 2021, Saudi Arabia announced its intent to achieve carbon neutrality with the goal of reaching net-zero Global Greenhouse Gas (GHG) emissions, by 2060. In addition to efforts to transition to lower carbon sources of energy (natural gas, renewables, clean energy) and reduce carbon emissions (carbon capture), Saudi Arabia is working to increase its energy efficiency.

     
  • Mortgage rates up but more liquidity needed
     

    Saudi authorities have made home ownership a key goal of Vision 2030, aiming to have 70 % of Saudis owning their own homes by 2030. An estimated 62% to 65% of Saudis are currently home owners. 

     
  • IMF concludes annual consultation with Saudi Arabia
     

    Saudi Arabia’s unprecedented economic transformation is progressing well as it advanced in its modernization and diversification efforts under Vision 2030. The recent fiscal space exercise has facilitated the recalibration of investment spending planned under Vision 2030 by reprioritizing projects and through sectoral strategies.

     

MUST-READS

  • Saudi Arabia launches new unified national employment platform ‘Jadarat’

    This initiative supports efforts to develop the local labour market strategy and achieve national targets in line with Saudi Vision 2030. HADAF Director General Turki Al-Jawini reported that approximately 70,000 job vacancies are currently listed on Jadarat across various specialisations and sectors. He explained that the platform was launched to facilitate the job search journey and explore all job opportunities, becoming the main enabler for employing citizens

  • Saudi Arabia spends SR3.7 billion to support employment and training during first half of 2024

    Minister of Human Resources and Social Development Eng. Ahmed Al-Rajhi revealed that the Saudi Human Resources Development Fund (HADAF) has spent about SR3.7 billion ($986 million) on programs and products to support employment, training and qualification of Saudis during the first half of this year. More than 100,000 establishments have benefited from these programs and over 153,000 citizens were employed in private sector establishments, he said during the ceremony of launching ‘Jadarat,’ the Unified National Employment Platform on Sunday. “The goal of the platform, under the slogan “Ambition and Empowerment,” is to unify employment efforts and data of job seekers in the public and private sectors, and to raise the quality and reliability of data,” he said.

  • Saudi Arabia launches unified employment portal

    Saudi Arabia has launched a unified employment portal offering job opportunities spanning across the government and public sectors. The Jadarat platform was unveiled by the Kingdom’s Minister of Human Resources and Social Development, Ahmed Al-Rajhi.

  • Saudi Arabia extends waiver on expat fees for industrial sector employees

    The minister said the waiver has been instrumental in transforming the industrial landscape of Saudi Arabia. Since its inception, the number of industrial establishments has surged from 8,822 to 11,868 by April 2024. This substantial increase reflects the sector’s expansion and the positive impact of the government’s financial incentives, he added.

  • Saudi: New Nazaha law stipulates termination of government employee if convicted of corruption

    A government employee shall be terminated from service in the event of conviction of corruption by a court of law. Legal measures will be taken against an employee if he amasses wealth disproportionate to his income. These provisions are included in the new Saudi Oversight and Anti-Corruption Authority (Nazaha) Law, approved by the Council of Ministers on July 23.

  • Industry Ministry opens bidding for 7 exploration licenses on 1,000 sq. km areas

    This is part of the ministry’s Accelerated Exploration Program initiative, which aims to expedite the exploration and development of the Kingdom’s estimated SR9.3 trillion worth of mineral resources, in line with the Saudi Vision 2030 objective of making the mining sector the third pillar of the national industry.

  • Saudi Aramco explores global LNG opportunities: Nasser

    Saudi Aramco's President and CEO Amin Nasser said the company is working on a number of international investments and exploring global opportunities in the field of LNG. He added that the company has ambitious plans to develop its portfolio and expand its capabilities in this field. Nasser said in an investor call that the oil giant seeks to complete a strategic partnership in the field of LNG with MidOcean Energy during the third quarter of 2024.

  • Khalid Sheikh Mohammed, accused as the main plotter of 9/11, agrees to plead guilty

    After spending almost two decades in the U.S. military prison at Guantánamo Bay, Cuba, the alleged mastermind of the 9/11 terror attacks, Khalid Shaikh Mohammed, and two of his accomplices have agreed to plead guilty in exchange for sentences of up to life in prison rather than face a death-penalty trial.

  • Saudi Arabia makes significant progress in WEF skilled employees index

    Saudi Arabia has been strengthening its labor market for the last few years. The number of Saudi nationals working in the private sector increased from 1.7 million in 2019 to over 2.3 million in 2024, and the unemployment rate dropped to 7.6% during Q1 2024.

  • Saudi Arabia allows employment of expatriate dependents in health and education sectors

    The Ministry of Human Resources and Social Development has introduced a new initiative to enable the employment of expatriate dependents holding dependent visas in the health and education sectors, Okaz newspaper reported. The ministry outlined the steps to access this service. Users need to log into the Ajeer platform, select the Ajeer Dependents Service, fill out and submit the contract, and issue a dependents' permit.