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  • Significant Step Taken in U.S.-Saudi THAAD Missile Deal
     

    A personal call between President Donald Trump and King Salman Saudi Arabia helped to finalize an agreement in which the Kingdom will buy Lockheed Martin’s $15 billion THAAD missile defense system, according to reports. The U.S. State Department said the Saudis and U.S. officials signed letters of offer and acceptance documents on Monday, formalizing terms for Saudi’s […]

     
  • Yemen’s Government to Join Peace Talks with Houthis, CNN Reports
     

    Yemen’s Saudi-backed government confirmed it will participate in United Nations-sponsored peace talks in Sweden, according to CNN, which cited the Saudi Press Agency. The announcement came shortly before the United Kingdom introduced a draft resolution on Yemen at the UN Security Council on Monday in which it calls for a ceasefire in Yemen and a two-week […]

     
  • Sec. Mattis, Saudi FM Al-Jubeir Meet; U.S. Calls for ‘Transparent Investigation’
     

    U.S. Defense Secretary Jim Mattis said on Sunday that he has met with Saudi Arabia’s foreign minister, Adel Al-Jubeir, and called for a “transparent investigation” into the killing of journalist Jamal Khashoggi in Turkey, according to reports. Mattis said he met Saudi Foreign Minister Adel al-Jubeir during a conference in Bahrain on Saturday and discussed […]

     
  • Crown prince chairs first meeting on reform of Saudi intelligence services
     

    Saudi Crown Prince Mohammed bin Salman chaired the first meeting on Thursday of a special committee to reform Saudi Arabia’s intelligence services. The restructuring was ordered by King Salman after the murder in Istanbul of Saudi journalist Jamal Khashoggi. According to Arab News, the committee “assessed the General Intelligence Presidency’s current organizational structure and identified […]

     
  • FII Kicks Off in Riyadh
     

    The Future Investment Initiative (FII) kicked off today at the Ritz Carlton, Riyadh with a standing room only crowd despite an exodus of CEOs and other top executives in recent weeks. The PIF-organized event went forward as planned despite questions regarding the event’s timing, and saw a large crowd at the start of the event. The event […]

     
  • Video: Bloomberg Interview with Head of the Saudi Stock Market Sarah Al-Suhaimi
     

    Saudi Arabia’s head of its stock exchange, Sarah Al-Suhaimi, gave an interview with Bloomberg outlining her plans for the Tadawul at the Bloomberg Invest Summit in London. Al-Suhaimi is the first Saudi woman to chair the Saudi Arabian stock exchange, which is the largest stock market in the Middle East. [Click here to watch the interview on Bloomberg.com]

     
  • Russia, Saudi Arabia Planned Rise in Production Before OPEC Meeting
     

    Russia and Saudi Arabia have struck a deal to raise oil output from September through December to cool rising prices, according to Reuters. The deal, struck in private in September, was then shared with the United States before a meeting in Algiers with other producers, according to four sources familiar with the plan cited by Reuters. The […]

     
  • PIF Says WSJ Report that Kingdom Has Shelved Solar Projects is ‘Completely Inaccurate’
     

    A spokesperson for Saudi Arabia’s Public Investment Fund (PIF) said via the Kingdom’s state-run news agency, the Saudi Press Agency, that media articles claiming that work has been shelved with respect to SoftBank and Solar Projects are “completely inaccurate.” The unnamed spokesperson said that the PIF “continues to work with the SoftBank Vision Fund, and other parties, on a number of large-scale, […]

     
  • Saudi Crown Prince to Visit Kuwait on Saturday for Qatar Talks – Reports
     

    Crown Prince Mohammed Bin Salman will visit Kuwait on Saturday to discuss the Kingdom’s ongoing conflict with Qatar, according to reports. During the visit, Crown Prince Mohammed bin Salman will hold talks with Kuwaiti Emir Sheikh Sabah al-Ahmad al-Jaber al-Sabah, according to the Kuwaiti News Agency via Twitter. Kuwaiti mediation efforts have failed so far to end the crisis […]

     
  • Saudi Embassy to Celebrate 88th Saudi National Day with Event at National Harbor
     

    On Sunday, September 23, the Royal Embassy of Saudi Arabia in Washington will host a celebratory event to mark the Kingdom’s 88th national day at the National Harbor, the Embassy said on Twitter. The event begins at 3pm at the Pier at National Harbor and will showcase Saudi folklore and culture and is free for […]

     

MUST-READS

  • Foreign creditors urge Lebanon to begin debt restructuring talks

    Lebanon defaulted on its international debt in March 2020, after years of political upheaval and economic mismanagement left it unable to service a debt burden that was then worth more than 170% of GDP.

  • External review finds deeper rot in World Bank ‘Doing Business’ rankings

    "The World Bank should not simultaneously engage in scoring countries’ business environment while accepting payment to coach countries on how to improve their scores," the authors wrote. The World Bank offered these "Reimbursible Advisory Services," or RAS in a number of countries, including some of those implicated in the data manipulation investigation, such as China and Saudi Arabia, the review said.

  • Erdogan’s waning patience: Four questions for Turkey’s central bank

    Turkey's central bank has begun setting the stage for an interest rate cut long sought by President Tayyip Erdogan, although most analysts don't think it will pull the trigger this week after inflation jumped and the lira took a slide. The bank has kept its benchmark rate at 19% since March, when Erdogan installed Sahap Kavcioglu as its latest governor. That makes it one of the highest policy rates in the world - although so too is Turkey's inflation rate, which touched 19.25% last month.

  • Saudi Arabia’s top diplomat in India talks amid fears of new Taliban repression

    Saudi Foreign Minister Prince Faisal bin Farhan held talks with the Indian foreign minister in New Delhi on Sunday amid growing fears of a return to a repressive Taliban regime in Afghanistan. The two men had what India’s Foreign Minister S. Jaishankar described as a “very useful exchange of views on Afghanistan” in a “cordial and productive meeting.”

  • What happened to Lebanon’s economy?

    Drive down any main road in Beirut these days, and you’re bound to come upon a line of cars, barely moving, taking up an entire lane of traffic, snaking along for a block or even a mile. These are gas lines... Lebanon’s electrical grid has been notoriously dysfunctional for many years, unable to supply 24-hour electricity for decades, but this is a new low. Those with money to spare have generators — generators that need fuel.

  • IMF chief called out over pressure to favor China while at World Bank

    World Bank leaders, including then-Chief Executive Kristalina Georgieva, applied "undue pressure" on staff to boost China's ranking in the bank's "Doing Business 2018" report, according to an independent investigation released Thursday. The report, prepared by law firm WilmerHale at the request of the bank's ethics committee, raises concerns about China's influence at the World Bank, and the judgment of Georgieva - now managing director of the International Monetary Fund - and then-World Bank President Jim Yong Kim.

  • Pakistan calls for world to ‘engage’ with Taliban government

    Pakistan national security adviser comments come as international community considers terms of engagement with Taliban.

  • Opinion: Lebanon’s New Government Has One Big Last Chance to Save the Country.

    After 13 months of foundering under caretaker prime ministers, Lebanon finally has a government. That is very good news for a country suffering from the effects of economic collapse, political intransigence, financial malfeasance and the interference of foreign powers. And all that on top of the still mysterious port explosion last year that devastated the capital Beirut.

  • StanChart to add bankers in sustainable finance, capital markets in Saudi Arabia

    Standard Chartered (STAN.L) is looking to add bankers to focus on sustainable finance, project finance and capital markets in Saudi Arabia, a market it sees will become a "front-runner" for its regional business in coming years, a senior executive said. Standard Chartered this year began offering banking services through its branch in Saudi Arabia with a team of 25 people after it was granted a banking licence in 2019.

  • Saudi foreign minister to visit India for talks on Afghanistan, Taliban

    Saudi Arabia’’s foreign minister Prince Faisal bin Farhan Al Saud is expected to visit India this weekend to discuss the unfolding situation in Afghanistan even as Qatar has taken the lead in diplomatically engaging Kabul and legitimising the Taliban.