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A normalisation deal between Israel and Saudi Arabia appears to be closer than ever – even though most commentators had long assumed it could not happen while King Salman Bin Abdelaziz was alive. Riyadh seems intent on extracting far more concessions in any deal than the UAE or Bahrain managed with their Abraham Accords, but it remains to be seen if all sides will be able to find a workable compromise.

Global and regional powers have drawn up a series of plans to develop new trade corridors through Gulf countries over recent years, with the latest emerging at the G20 summit in India which will pass through the UAE, Saudi Arabia and on to Jordan and Israel. The ambitious plan could take decades to realise and will face competition from rival schemes backed by Iran, Iraq, Russia and Turkey. 

Saudi Aramco said it was buying a minority stake in liquefied natural gas (LNG) company MidOcean Energy for $500m, with an option to buy more shares in the future. It is the Saudi giant’s first international LNG investment. 

A meeting of the Unesco World Heritage Committee, held in Riyadh, caused a diplomatic stir when it voted to include the pre-historic site of Tell Es Sultan near Jericho as a World Heritage Site in Palestine. Israel objected to the decision. 

There was speculation that during his five-day private visit to Oman, Saudi Arabia's Crown Prince Mohammed Bin Salman (MBS) may have crossed the border into Yemen. 

With the Public Investment Fund (PIF) and other state-owned bodies driving many developments in the Saudi economy, the International Monetary Fund (IMF)'s annual Article IV consultation places the development of a Sovereign Asset-Liability Management (Salm) framework as "a high priority to support fiscal sustainability".  

Among the issues raised in the International Monetary Fund (IMF)’s 2023 Article IV consultation, published in early September, were notable comments on the Saudi rial’s peg to the US dollar and measures to crack down on local and international corruption.

Recent data give some grounds for optimism that Saudi Crown Prince Mohammed Bin Salman’s bets on stimulating non-oil growth and liberalising society is yielding dividends, but an IMF report and other recent analysis show just how much further the country needs to go to end its dependency on oil and gas revenues.

G20 summit: Saudi Arabia’s Crown Prince Mohammed Bin Salman was a prominent figure at the G20 summit in New Delhi on 9/10 September. He held talks with a series of other leaders, including India’s Prime Minister Narendra Modi, Argentina’s President Alberto Fernandez, Bangladesh’s Prime Minister Sheikh Hasina Wazed, Brazilian President Luiz Inácio Lula da Silva, Japan’s Prime Minister Fumio Kishida and Turkey’s President Recep Tayyip Erdoğan.

Recent gloomy reports on a downturn in Saudi economic growth were underpinned by the announcement that Riyadh was extending its 1m b/d production cut until end-2023. However, the higher prices are not enough to make up for the fall in output. 

Saudi Arabia's Crown Prince Mohammed bin Salman stopped in Muscat on 11 September on his way home from the G20 summit in India. Although billed as a "private visit" he arrived with a large delegation and held talks with Sultan Haitham Bin Tariq Al-Said, covering the Yemen war, Iran and trade.  

Kuwaiti Sheikh Salman Sabah Al-Salem Al-Humoud Al-Sabah was named president of the Asian Shooting Confederation (ASC) for another four-year term, during a general assembly held in Kuwait early September.

Former Brazilian President Jair Bolsonaro and his wife Michelle declined to answer questions from federal police about jewellery, watches and other gifts given to them by Bahrain and Saudi Arabia and never declared.

Saudi Prince Fahad Bin Jalawi Bin Abdulaziz Bin Musaed was named president of the International Camel Racing Federation (ICRF), during a general assembly held in Taif. He will hold the position for five years.

Saudi Arabia's ambassador to Iran Abdullah Bin Saud Al-Anzi arrived in Tehran on 5 September to assume his official duties. On the same day, his Iranian counterpart Alireza Enayati arrived in Riyadh to start his work there.