Saudi Arabia

13 Nov 2019; MEMO: Saudi Arabia’s Specialist Criminal Court in Riyadh yesterday sentenced 38 defendants to prison terms ranging from six months to 25 years on charges of financing terrorism and declaring other Muslims as non-believers, state-run Al-Ekhbariya channel reported.

The channel said one of the convicts set up a terrorist organisation while in prison and recruited prisoners, without giving further details.

11 Nov 2019; MEMO: Saudi Arabia’s Human Rights Commission (HRC) has introduced new regulations for domestic workers, local media reported yesterday.

“HRC has introduced new related contractual, financial and health rights for the domestic workers in Saudi Arabia,” the commission said on Twitter.

The rights commission explained that it was “forbidden” to employ domestic workers in a job that “threatens their health, safety or dignity.”

RIYADH, Nov. 5 (Xinhua) -- The Yemeni UN-backed government and the Southern Transitional Council (STC) signed here on Tuesday a Saudi-sponsored "Riyadh Agreement," Al Arabiya TV reported.

The signing ceremony was attended by Saudi Crown Prince Mohammed bin Salman Al Saud, Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al Nahyan, Yemeni President Abd-Rabbu Mansour Hadi, President of the STC Aidarus al-Zoubaidi, alongside other Arab and Western officials and ambassadors.

5 Nov 2019; MEMO: Saudi Aramco’s profits have fallen by seven per cent in the first nine months of 2019, the company reported yesterday.

In September, Aramco achieved $68.2 billion of profit, up from $83.3 billion in the same period in 2018.

The oil company’s announcement came following its decision on Sunday to go public and offer shares in the stock market after approval by the Saudi Crown Prince Mohammed Bin Salman.

5 Nov 2019; MEMO: Saudi Arabia warned on Monday morning that foreign workers who violate their residency and labour regulations might face the risk of prison and fines.

DUBAI/RIYADH (Reuters) - Saudi Arabia’s Crown Prince Mohammed bin Salman on Friday agreed that the initial public offering of state oil giant Aramco will be announced on Sunday, five sources familiar with the matter told Reuters.

The world’s top oil company will announce its intention to float (ITF) on Nov. 3, the sources added.

“The crown prince finally gave the green light,” one source said.

Aramco declined to comment.

2 Nov 2019; MEMO: Saudi Aramco officials and advisers are holding last-minute meetings with investors in an attempt to achieve as close to a $2 trillion valuation as possible ahead of an expected listing launch on Sunday, according to three sources, Reuters reports.

Failure to reach the coveted target would cause a dilemma for Saudi Crown Prince Mohammed bin Salman – swallow the bitter pill of going ahead at a lower valuation or postpone the initial public offering (IPO) once again.

Riyadh, Oct 29 (PTI) Saudi Arabia on Tuesday inaugurated a three-day high-profile financial summit, being attended by Prime Minister Narendra Modi and several other world leaders, aimed at drawing foreign investors to help the Gulf Kingdom diversify its oil-based economy.

The forum, dubbed "Davos in the desert", is an initiative of Saudi Crown Prince Mohammed bin Salman, who plans to diversify the Kingdom's economy while reducing its economic dependence on petroleum products under his ambitious vision 2030 plan.

26 Oct 2019; MEMO: The UN investigator on Jamal Khashoggi says she will “never give up” on her ongoing probe into the murder of the Saudi journalist and criticized those heading to Saudi Arabia for a business meeting next week, reports Anadolu Agency.

25 Oct 2019; MEMO: The Saudi authorities have arrested Sheikh Abdul Rahman Al-Mahmoud, a former faculty member of Imam Muhammad Ibn Saud Islamic University, for criticising forms of entertainment.