Saudi oil exports are recovering and crude prices remain high. But record shipping costs, insurance risks and disrupted export routes are changing the economics of the Saudi barrel — forcing Aramco to offer Asian buyers its deepest discount in six...
The non-oil economy is bigger than ever. But with GDP contracting, the deficit approaching SAR 191 billion, debt rising and foreign investment weakening, Saudi Arabia is confronting a harder question: can the new economy finance the state when oil...
There are moments that reveal the nature of an entire relationship more clearly than dozens of summits, defence agreements and diplomatic statements. The reported sight of American aircraft being prepared for strikes against the Houthis, only for...
Eleven years after Saudi Arabia went to war in Yemen to prevent the Houthis from becoming a permanent threat on its border, Riyadh is asking four countries for air-defence support while Washington refuses to fight its war. The kingdom spent billions...
The Ritz-Carlton in Riyadh was supposed to represent the polished face of modern Saudi luxury: marble interiors, chandeliers and suites designed for presidents, royalty and wealthy visitors. Nearly nine years after the hotel became the centre of...
Saudi Arabia’s PIF spent more than $5 billion building a rival capable of disrupting global golf. Four years later, LIV Golf has filed for Chapter 11 — and the sovereign wealth fund is providing just $49.6 million to finance its restructuring. Four...