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Saudi economy

FILE - Saudi Arabia Crown Prince Mohammed bin Salman, left, and FIFA President Gianni Infantino, stand for the anthem prior to the match between Russia and Saudi Arabia which opened the 2018 soccer World Cup at the Luzhniki stadium in Moscow, Russia, on June 14, 2018. (Alexei Nikolsky, Sputnik, Kremlin Pool Photo via AP, File)
December 3, 2024, 2:03 am
Report details Saudi Arabia’s spending and influence network to host 2034 World Cup
As FIFA set to confirm the Saudis as hosts, sports ethics institute in Denmark highlights ‘tension between the ideals of sport and the realities of power, money, and politics’
By Graham Dunbar
Secretary General of the Gulf Cooperation Council (GCC) Nayef Falah Al-Hajraf, left, and Saudi Foreign Minister Prince Faisal bin Farhan Al-Saud speak during a press conference during the 41st Gulf Cooperation Council (GCC) meeting in Al Ula, Saudi Arabia, Tuesday, Jan. 5, 2021. (AP Photo/Amr Nabil)
July 5, 2021, 5:28 pm
Saudi Arabia amends import rules to sideline Israel-linked products
The kingdom’s decree also pulls tax breaks from goods made in free zones in an effort to challenge the UAE’s trade domination in the Gulf
By ToI Staff
Saudi Crown Prince Mohammed bin Salman arrives to attend the Saudi Cup award ceremony at King Abdul Aziz race track in Riyadh, Saudi Arabia, on February 20, 2021. (Amr Nabil/AP)
March 31, 2021, 12:08 pm
Saudis invest $3.2 trillion in effort to revitalize COVID-stricken economy
Over 20 of kingdom’s biggest companies will lead the investment drive by contributing 5 trillion riyals over the next decade
By AFP
Saudi Arabia's Crown Prince Mohammed bin Salman smiles as he listens during his meeting with US President Donald Trump during a working breakfast on the sidelines of the G20 summit in Osaka, Japan, June 29, 2019. (AP Photo/Susan Walsh)
September 22, 2020, 3:16 pm
Saudi Arabia on road to ties with Israel, but not quite there yet
Most Saudis still view Palestinian statehood as a prerequisite for formal relations, but state-backed media and clerics are signaling change is underway
By Aya Batrawy
A woman walks past a banner showing Saudi King Salman, right, and his Crown Prince Mohammed bin Salman, outside a mall in Jiddah, Saudi Arabia, June 15, 2020. (AP Photo/Amr Nabil)
June 16, 2020, 11:47 am
Saudis see high hopes for 2020 upended by pandemic
With kingdom’s grandiose economic, diplomatic and cultural reforms nipped in the bud by virus outbreak, Riyadh invests in foreign firms, seeking to bounce back
By Aya Batrawy
This photo from September 15, 2019, shows storage tanks at the North Jiddah bulk plant, an Aramco oil facility, in Jiddah, Saudi Arabia. (AP Photo/Amr Nabil, File)
December 11, 2019, 12:14 pm
Saudi Aramco starts trading, instantly becomes world’s most-valued at $1.8t
Some 5 million Saudis, or one-quarter of the country’s citizens, drop $13b to buy the 1.5% of the kingdom’s crown jewel put up for sale on Wednesday
By Aya Batrawy
The Tadawul Saudi Stock Exchange in the Saudi Arabian capital, Riyadh, June 15, 2015. (AP Photo/Hasan Jamali, File)
October 30, 2019, 5:24 am
Report: Saudi Aramco shares to start trading in December
Crown prince aiming for a very optimistic $2 trillion valuation to fund ambitious redevelopment plans in kingdom
By Jon Gambrell
In this 2013 file photo, President of the United Arab Emirates Sheik Khalifa bin Zayed Al Nahyan arrives to meet Britain's Queen Elizabeth II in Windsor in England (AP Photo/Kirsty Wigglesworth, pool)
October 21, 2019, 10:16 am
UAE frees millions in frozen funds amid warming ties, Iran says
After US fails to confront Islamic republic for drone downing and pulls troops from Syria, Emirati MP says understanding is that ‘Western countries can’t provide security’
By ToI Staff and Agencies
Saudi Arabia's Crown Prince Mohammed bin Salman attends a meeting with US Secretary of State Mike Pompeo in Jeddah, Saudi Arabia, on September 18, 2019. (Mandel Ngan/Pool Photo via AP)
October 5, 2019, 5:56 pm
Saudis said moving toward detente with Iran amid US reluctance to act militarily
Lack of US response to crippling attack on oil facilities has shown Riyadh that Trump ‘not really ready to take on Iran,’ analyst says; Israel said worried by emboldened ayatollahs
By ToI Staff and Agencies
The Central Bank of Iran (Courtesy)
September 20, 2019, 11:51 pm
Iran’s central bank says new sanctions show US has no ‘leverage’
Measures touted as toughest ‘ever’ by Trump are derided in Tehran as proof of ‘how empty their hands are’
By Agencies and ToI Staff
US President Donald Trump speaks in the Oval Office while meeting with Australian Prime Minister Scott Morrison September 20, 2019 in Washington, DC (Win McNamee/Getty Images/AFP)
September 20, 2019, 7:50 pm
Trump announces toughest sanctions ‘ever’ on Iran
Measures against central bank come after administration vowed response to blasts blamed on Tehran that damaged Saudi Arabia’s oil infrastructure
By Agencies
Portraits of Saudi King Salman (R) and his son Crown Prince Mohammed bin Salman (MBS) in Riyadh one day before the Future Investment Initiative FII conference that will take place in Riyadh from 23-25 October (FAYEZ NURELDINE / AFP)
October 23, 2018, 12:05 pm
Saudi Arabia opens investment forum under Khashoggi shadow
3-day Future Investment Initiative meant to project Riyadh as a lucrative business destination has been abandoned by investors and leaders as outrage over killing grows
By Anuj Chopra and Mohamad Ali Harissi
Saudi King Salman bin Abdulaziz attends the 29th Summit of the Arab League at the Ithra center in Dhahran, Eastern Saudi Arabia, on April 15, 2018. (AFP)
April 24, 2018, 10:11 am
Saudi king to launch sprawling ‘entertainment city’
Multi-billion-dollar project, aimed at encouraging local tourism, will include high-end theme parks, motor sport facilities and a safari park
By AFP
Princess Reema bint Bandar al-Saud. (YouTube screenshot)
February 28, 2018, 11:51 pm
Driving not the last of rights for Saudi women, princess vows
Reema bint Bandar al-Saud says Saudi authorities ‘really working on’ confronting domestic violence
By AFP
Saudi Arabia's Minister of Energy, Industry and Mineral Resources, Khalid Al-Falih speaks during a press conference in Riyadh, on December 20, 2017. (AFP PHOTO / FAYEZ NURELDINE)
December 21, 2017, 6:49 pm
Saudi-US talks on civilian nuclear program to begin within ‘weeks’
Riyadh’s energy minister insists kingdom seeks energy for peaceful purposes, but will not agree to American limitations on uranium enrichment
By ToI Staff
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