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Saudi Arabia

August 17, 2024

Riyadh 5:49 am

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Co-founder and Ceo of Starz Play Maaz Sheikh poses in his office in Dubai on April 23, 2019. Streaming services in the Middle East are competing for Arab audiences with US giant Netflix set to release its first Arabic production in June, chasing a slice of a potentially lucrative market. (Photo by GIUSEPPE CACACE / AFP) (Photo by GIUSEPPE CACACE/AFP via Getty Images)

Netflix in crosshairs as Middle East streaming competition mounts

Samuel Wendel

In Washington, DC, reporting on regional business and tech

A man walks out of Bank Station, in The City financial district, in central London, on June 12, 2024. (Photo by BENJAMIN CREMEL / AFP) (Photo by BENJAMIN CREMEL/AFP via Getty Images)

Interview

Nomo Bank sees increasing appetite for Islamic investments, ETFs

Paul Szumilewicz, chief revenue officer at UK-based Nomo Bank, said there is a growing demand from the bank’s clients to invest in exchange-traded funds (ETFs) — a pre-defined group of bonds, stocks or commodities poured into a fund and listed on the stock exchange.

Paul Szumilewicz

With Paul Szumilewicz

Nomo Bank Chief Revenue Officer

A picture taken on July 14, 2022, ahead of a visit by the United States president to Saudi Arabia, shows hostesses in a car manufactured by US electric vehicle maker Lucid Group.

Analysis

Will Saudis’ $1.5B cash infusion help Lucid compete with Tesla?

The Saudi-backed electric vehicle maker Lucid has never been profitable, but the kingdom remains strategically committed to it amid the growing EV market in the Gulf.

Adam Lucente

By Adam Lucente , Jack Dutton

Russian arctic tanker

Analysis

What to expect as Russia's oil and gas woes impact Middle East

As Iran's expected retaliation against Israel threatens to upset geopolitical dynamics, Russian gasoline export restrictions are placing pressure on global oil and gas markets from another angle.

Paul J. Saunders

By Paul J. Saunders

In Washington, DC, reporting on Russia in the Middle East

Latest News

Analysis

Saudi Arabia lures in Turkey’s defense giants as its military industry grows

Royal Saudi Air Force Panavia Tornado and F-15 Eagle fighter aircraft fly over during an airshow marking Saudi Arabia's 93rd National Day celebrations in Riyadh on September 23, 2023. (Photo by Fayez Nureldine / AFP) (Photo by FAYEZ NURELDINE/AFP via Getty Images)

Francesco Schiavi

By Francesco Schiavi

In Bologna, reporting on security, defense, economy, governance

Saudi Aramco CEO predicts 1.6-2M bpd oil demand rise after sharp price fall

PEDRO PARDO/AFP via Getty Images

Saudi PIF signs deals worth up to $50B with six Chinese institutions

PEDRO PARDO/AFP via Getty Images

Saudi Arabia's SABIC sees second quarter profit rise by 85% to $580M

A picture taken on Jan. 17, 2016, shows the headquarters of Saudi Basic Industries Corporation (SABIC) in the Saudi capital, Riyadh.

US election drama raises stakes for Mideast economic powers eyeing 2025

KALAMAZOO, MICHIGAN - JULY 17: U.S. Vice President Kamala Harris attends a moderated conversation with former Trump administration national security official Olivia Troye and former Republican voter Amanda Stratton on July 17, 2024 in Kalamazoo, Michigan. (Photo by Chris duMond/Getty Images)

Sabena Siddiqui

In Karachi, reporting on South Asia, Middle East, Iran

Sebastian Castelier

In Dubai, reporting on regional business

Kate Dourian

In Dubai, reporting on energy

Benjamin Houghton

In Durham, reporting on China in the Middle East

Mohammed Soliman

In Washington, DC, reporting on Gulf politics

Karen Young

In Washington, DC, reporting on regional energy

Officers of the Directorate of Narcotics Control of Saudi Arabia's Interior Ministry sort through tablets of Captagon.

Saudi's latest drug bust: thousands of narcotics tablets, 760 pounds of qat

Saudi Arabia is a major destination for the amphetamine Captagon, though seizures have decreased recently due to more enforcement in transit countries like Jordan, according to a recent report.

RIYADH, SAUDI ARABIA - MAY 4: Cristiano Ronaldo of Al Nassr celebrates after scoring the 2nd goal during the Saudi Pro League match between Al-Nassr and Al Wehda at Al Awwal Park on May 4, 2024 in Riyadh, Saudi Arabia.(Photo by Yasser Bakhsh/Getty Images)

Analysis

Saudi Arabia's soccer dreams tested as Vision 2030 goal posts move

2023 saw Saudi Arabia take the world of soccer by storm with record-breaking spending on new stars, but those hoping for a repeat performance in 2024 have so far been left disappointed.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

WAKIL KOHSAR/AFP via Getty Images

In navigating return of Taliban, will Saudi reopen embassy in Afghanistan?

If the reported push to reopen materializes, it could help provide some legitimacy to the Taliban government.

The Public Investment Fund, PIF, presence during the BNP Paribas Open at Indian Wells Tennis Garden on March 13, 2024, in Indian Wells, California.

What’s behind Saudi Public Investment Fund’s $17.2B profit?

The sovereign wealth fund’s turnaround following the loss in 2022 is due in large part to the stock market rebounding.

Saudi defense chief Khalid bin Salman in Turkey received by his counterpart Yasar Guler in Ankara on July 2, 2024

Saudi defense chief in Turkey, meets Erdogan as drone sales grow

Turkey and Saudi Arabia signed a major drone deal last year in one of several recent demonstrations of strengthening defense cooperation between the two countries.

This picture taken December 12, 2019 shows a man monitoring the board at the Stock Exchange Market (Tadawul) bourse in Riyadh. - Energy giant Saudi Aramco's market value soared above $2 trillion as its share price surged again on its second day of trading. The valuation milestone was sought by Saudi Crown Prince Mohammed bin Salman when he first floated the idea of selling up to five percent of Aramco, the world's largest oil firm, about four years ago. Aramco shares jumped another 9.7 percent to 38.60 riya

Is Saudi Arabia’s $100B foreign investment drive starting to yield results?

Samuel Wendel

In Washington, DC, reporting on regional business and tech

Exterior view from Trump Tower in New York City, on May 31, 2024. Donald Trump became the first former US president ever convicted of a crime after a New York jury found him guilty on all charges in his hush money case, months before an election that could see him yet return to the White House. (Photo by Kena Betancur / AFP) (Photo by KENA BETANCUR/AFP via Getty Images)

Trump Tower deal announced in Jeddah as Saudi business ties grow

The Trump Organization recently unveiled a development in Oman, while Trump’s golf course is again hosting the Saudi-backed LIV Golf this year.

Saudi Crown Prince Mohammed bin Salman receives Kuwait’s Crown Prince Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah in Jeddah, Saudi Arabia on June 11, 2024. (Source: KSAmofaEN/Twitter/X)

Kuwait doubles down on Saudi ties driven by economics, counter-Islamism

Kuwait's newly appointed crown prince, Sheikh Sabah Khalid Al Sabah, is expected to advance the already good ties between his country and Saudi Arabia, as the two seek to further their economic prosperity.

ABDEL GHANI BASHIR/AFP via Getty Images

Iran claims Saudi Arabia won't let Iranian pilgrims vote

Iranian worshippers resumed Umrah pilgrimages to holy sites in Saudi Arabia in April after the two countries resumed relations last year.

Saudi Defense Minister Prince Khalid bin Salman bin Abdulaziz Al Saud meets Zhang Youxia.

Saudi defense chief in China in bid for help with Houthis, boost military ties

China was a major participant in the World Defense Show in Riyadh earlier this year, and Saudi Arabia signed $4 billion in arms deals with the People’s Republic in 2022.

Ground crews prepare an Emirates Boeing 777-300ER aircraft, powering one of its engines with a hundred per cent Sustainable Aviation Fuel (SAF), for a demonstration flight at the Dubai International Airport in Dubai, on January 30, 2023. - Emirates said it successfully flew a Boeing 777 powered by sustainable aviation fuel today, as the Middle East's largest airline aims to halve its jet fuel consumption. The Dubai-based carrier has used sustainable aviation fuel (SAF) since 2017, but said its test flight w

Are GCC states prepared for net zero in aviation?

Kate Dourian

In Dubai, reporting on energy

AFP via Getty Images

Heat, old age, heart conditions blamed for over 1,000 deaths at Hajj

Many of those who died were unregistered users who suffered from the intense heat in Saudi Arabia, according to regional authorities.