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  • Yemen’s Houthis Fire Another Ballistic Missile at Riyadh
     

    Saudi Arabia said it intercepted a Yemeni rebel missile over Riyadh on Tuesday as residents reported a “loud boom” that shook buildings in the Saudi capital. It was the second Houthi missile attack on Riyadh in the past two months. “Ballistic missile intercepted over Riyadh,” the Coalition battling Yemen’s Houthi rebels said in a statement. […]

     
  • Saudi 2018 Budget will be ‘Expansionary’ after Two Years of Tight Spending
     

    Saudi Arabia’s budget will be announced tomorrow and will include a “focus on expansion, development and investment” according to comments made on Al-Arabiya TV by a Saudi finance ministry official, and reported in Reuters. “If there was to be a title for the 2018 budget, it would be the budget of expansion and development and […]

     
  • Ambassador Haley Gives Dramatic Presentation of Alleged Iran-Made Weaponry Recovered from Regional Battlefields
     

    US envoy to the United Nations Nikki Haley made a presentation at Bolling Air Force base in Washington, D.C. to provide evidence that Iran had supplied short-range ballistic missiles to Houthi rebels in Yemen which were then fired at Saudi Arabia. Department of Defense (DOD) officials accompanied Haley for the presentation, which was made against a dramatic backdrop of broken […]

     
  • Nearly $20b in Stimulus for Saudi Economy in 2018
     

    Saudi Arabia has unveiled a stimulus package to begin next year with money to support housing construction as well as fee waivers for small businesses. Saudi Arabia’s King Salman issued a royal decree approving 72 billion riyals ($19.2 billion) worth of measures to stimulate growth in the private sector next year (2018), and 200 billion […]

     
  • Omar Bahlaiwa Honored at Johns Hopkins Forum Alongside U.S. Congress Leaders
     

    Omar Bahlaiwa, Saudi businessman, member of the board of directors of the Saudi-US Trade Group (SUSTG), member of the Saudi Committee for International Trade (CIT) and previously Secretary General of CIT as well as acting Secretary General for the Council of Saudi Chambers of Commerce was honored at the Annual Transatlantic Economic Forum held at the Johns […]

     
  • Trump Administration, Saudi Government at Odds over Yemen Blockade, Jerusalem Decision
     

    In an unusual public demand of Saudi Arabia, President Trump has called on Saudi leaders to ease the blockade of Yemen to allow for humanitarian aid to assist the war-torn and decimated country. “I have directed officials in my administration to call the leadership of the Kingdom of Saudi Arabia to request that they completely […]

     
  • Energy Secretary Rick Perry Meets with Top Saudi Leaders; Photos from Visit Go Viral
     

    U.S. Secretary of Energy Rick Perry visited Saudi Arabia over the weekend as part of a tour of three Gulf states, his first trip to the region since becoming the top U.S. energy official. Secretary Perry’s tour of Saudi Arabia was packed with events and visits with key Saudi officials as well as energy institutions in the […]

     
  • Former President of Yemen Ali Abdullah Saleh Killed by Houthi Allies in Major Turning Point
     

    In a major turn in the ongoing civil war in Yemen, former President Ali Abdullah Saleh has reportedly been killed in fighting against his former allies in the three-year old war, the Iran-aligned Houthi militia. Clashes broke out between fighters allied with the armed Houthi militia and those in Saleh’s General Peoples Congress over the […]

     
  • Second Missile in a Month Launched from Yemen Intercepted by Saudi Military
     

    For the second time in a month, the Saudi military has intercepted and destroyed a ballistic missile that was launched from Yemen on Thursday. The missile did not cause any casualties and was headed towards the Saudi city of Khamis Mushait on the Kingdom’s southwestern border, according to reports. Yemen’s Iran-backed armed Houthi rebels claimed responsibility for the […]

     
  • The U.S. Reported to be Assessing Support of Saudi Arabia’s Nuclear Energy Plans
     

    The Trump administration is reportedly holding talks on providing nuclear technology to Saudi Arabia in a move that would be a significant shift in U.S. policy, ProPublica reports. The report notes that, “The Trump administration hasn’t stated a position on whether it will let the Saudis have enrichment and reprocessing technology. An NSC spokesman declined […]

     

MUST-READS

  • Tesla to enter Saudi Arabia within months

    Elon Musk’s Tesla is set to launch in Saudi Arabia this quarter, marking its entry into one of the world’s largest oil-producing nations as it continues expanding across the Gulf, sources familiar with the plans told AGBI. The US electric vehicle maker will open sales through pop-up stores and establish a showroom and service centre, the sources said. It also plans to roll out a supercharger network, accessible to other EV brands. EV penetration is still low in the kingdom at just over 1 percent of overall car sales in Saudi Arabia, according to PwC’s 2024 Electric Mobility Outlook. Tesla’s expansion into Saudi Arabia could reshape a market characterised by some of the world’s cheapest fuel prices, but also help to increase interest in electric mobility in the kingdom, where the appetite for luxury vehicles is among the highest globally on a per capita basis.

  • Oil is no longer an energy security challenge as critical minerals take center stage, Saudi minister says

    “Oil is no longer an energy security challenge – it’s going to be gas, electricity, predominantly minerals,” Saudi Energy Minister Abdulaziz bin Salman told attendees at the annual Future Minerals Forum in Riyadh. “Today some of these countries, they have, as a country, 50% of the ownership of some of these required minerals and critical minerals ... countries are racing to access critical minerals and secure their own supply chain. Rushing to secure access to resources will ultimately lead to higher emissions, higher metals costs and higher energy prices.” The energy minister was referring to minerals critical to the energy transition and advanced technologies – including lithium, cobalt, nickel, graphite, manganese and other rare earth elements crucial for making things like electric vehicles, batteries, renewable energy technology, computers, and household goods.

  • Saudi PIF-backed Avilease to be ‘opportunistic’ about possible plane orders

    The CEO of fast-growing aircraft lessor AviLease on Wednesday said he expects Boeing (BA.N), opens new tab and Airbus (AIR.PA), opens new tab to get their supply issues under control in the next four years and said he will be opportunistic about possible aircraft orders. AviLease , backed by Saudi Arabia's Public Investment Fund (PIF), plans to increase its balance sheet from around $8 billion to around $20 billion by 2030, through acquisitions of rivals, buying individual planes and "potentially" doing large orders, Chief Executive Ted O'Byrne said.

  • Saudi Arabia hopes Gaza ceasefire ends ‘Israeli aggression’

    Saudi Arabia hailed the ceasefire in the Israel-Hamas war on Wednesday, calling for the end of “Israeli aggression” in Gaza following 15 months of conflict. “The Kingdom stresses the need to adhere to the agreement and stop the Israeli aggression on Gaza,” the Foreign Ministry said in a statement. It called for “the complete withdrawal of the Israeli occupation forces from the (Gaza) Strip and all other Palestinian and Arab territories and the return of the displaced to their areas.”

  • Saudi mining company Ma’aden reveals ‘promising’ gold and copper discoveries

    Saudi Arabian Mining Company (Ma'aden) said on Wednesday that it has discovered “promising” deposits of gold and copper in the kingdom. Ma'aden, the biggest mining company in the Arab world, discovered gold and copper intercepts at Wadi Al Jaww and Shayban in the Arabian Shield region, it said. Multiple intercepts of recoverable gold and copper grades were found in the exploration areas of the Shayban EL at Blocks 6 and 7. The results indicate “wide intersections of gold mineralisation at Wadi Al Jaww, and gold and copper mineralisation at Jabal Shayban”, it said. New drilling results from Ma’aden’s flagship Mansourah-Massarah mine also showed strong gold mineralisation.

  • Saudi Arabia welcomes ceasefire agreement in Gaza

    Saudi authorities welcomed the announcement of a Gaza ceasefire agreement on Wednesday and expressed the Kingdom’s appreciation for the efforts of mediators from Qatar, Egypt and the US. The Kingdom stressed the need for adherence to the deal, an end to Israel’s aggression against Gaza, and the complete withdrawal of Israeli forces from the territory and all other occupied Palestinian and Arab lands. It also highlighted the importance of building on the agreement by addressing the underlying reasons for the conflict and enabling the Palestinian people to secure their rights, the foremost of which is the establishment of an independent Palestinian state based on 1967 borders, with East Jerusalem as its capital.

  • Why Did a Major Saudi Industrial Group Suddenly Leave Iran?

    Savola Group, the largest Saudi investor in Iran and a dominant player in its cooking oil market, has sold all its assets in the country. Valued at approximately 705 million Saudi riyals ($188 million), the company has also exited Iran’s stock market. Savola Group was founded in January 1979, a month before the victory of the Islamic Revolution in Iran, with a capital of 40 million Saudi riyals. It began by producing vegetable oils in Saudi Arabia and quickly grew into one of the leading food industry giants in the Middle East, North Africa and Turkey, supplying edible oils, sugar, bread, dried nuts, frozen food, spices, dates and confectioneries. In addition to production, Savola is active in retail, owning the largest grocery chain in the region, Panda Retail Company. By 2024, the Savola had increased its capital by 112%, ranking 9th among Saudi Arabia's top 100 companies and 2nd in the industrial sector.

  • Scott O’Neil takes over as the CEO of Saudi-funded LIV Golf

    Scott O’Neil was formally introduced Wednesday as the new CEO of Saudi-funded LIV Golf, which enters its fourth season next month while its financial backer is negotiating an investment deal with the rival PGA Tour. O’Neil, who takes over for Greg Norman, was CEO of Merlin Entertainments who was in charge of business operations of more than 140 of the company’s attractions. He previously was CEO of Harris Blitzer Sports & Entertainment, whose holdings include the NBA's Philadelphia 76ers and the NHL's New Jersey Devils.

  • Saudi Arabia to scale up lithium expansion as it diversifies from oil

    Saudi Arabia has announced a new joint venture (JV) between Aramco, the world’s largest oil company, and state-owned mining company Ma’aden, marking a significant step in its push to dominate critical minerals. The partnership aims to extract lithium— an essential component in electric vehicle (EV) and electronic devices — from high-concentration deposits while exploring cost-effective direct extraction technologies. Commercial lithium production is expected to commence by 2027, the companies said. Demand for transition minerals such as lithium, cobalt, and nickel is surging globally. Aramco forecasts a 20-fold increase in domestic lithium demand between 2024 and 2030, sufficient to support 500,000 EV batteries and 110 gigawatts of renewable energy sources.

  • Gaza ceasefire deal prompts hopes of end to war between Israel and Hamas

    The ceasefire will go into effect on Sunday, Qatari Prime Minister Mohammed bin Abdulrahman bin Jassim Al Thani announced during a press conference in Doha. "It gives us great pleasure... to announce the success of the joint mediation efforts and the fact that the two belligerents in the Gaza Strip have reached a deal on the prisoner and the hostage swap and announce a ceasefire in the hopes of reaching a permanent ceasefire between the two sides, as well as allowing the access of large quantities of relief aid to the Palestinian brothers in the Gaza Strip," Al Thani said. Qatar, alongside Egypt and the United States, helped negotiate the agreement with Israel, with the incoming US administration of President-elect Donald Trump joining efforts to apply pressure on the Israelis.