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  • With customs union, GCC edges toward closer economic ties
     

    Saudi Arabia, the biggest Arab economy, is leading moves toward political and economic cooperation, which it believes would give the mostly Sunni-led monarchies of the Gulf more power to withstand any confrontation with Shi’ite Iran. Closer business ties within the GCC, which consists of Saudi Arabia, the UAE, Kuwait, Qatar, Oman and Bahrain and has […]

     
  • More than half of GCC population under age 25
     

    The countries of the Gulf Cooperation Council (GCC) have a low population compared with other regions, totaling 45 million people in 2011, less than 1 percent of the global population, a recently published report read. The report, filed by Kuwait Financial Center (Markaz), highlighting the GCC demographic shift, said the region is young, with 54 […]

     
  • Study finds ’80 more years of Saudi oil at current production levels’
     

    Saudi Arabia, the biggest oil producer in the world with a proven reserve of 264 billion barrels, could continue oil supplies for the next 80 years at the current production levels, the Kuwait-based Diplomatic Center for Strategic Studies (DCSS) said in a study. Saudi Arabia retains 38.7 percent of world oil reserves whereas the shares […]

     
  • Saudi, Kuwait, UAE lead Q1 GCC corporate earnings growth
     

    Earnings of Saudi Arabian companies totalled $6.7 billion, an increase of 15 per cent YoY and 28 per cent QoQ. SABIC, which reported $1.9 billion in Q1 profits, saw its bottom-line decline by five per cent YoY due to softening of global petrochemical prices when compared to Q1 2011. Saudi Banks continued its stable growth […]

     
  • Saudi ‘tops in mobile users’
     

    Saudi Arabia has the highest proportion of mobile phone users in the world with 188 per cent, followed by Vietnam and Oman in the second and third places respectively, according to a recent study. The study which was conducted by the United Nations Conference on Trade and Development (UNCTAD) indicated that this percentage is by far […]

     
  • Critical Commercial and Economic Ties: Interview with Jose Fernandez
     

    The 2nd US-Saudi Business Opportunities Forum in Atlanta in December brought together a high level delegation of over 200 Saudi officials and business people with over 1000 Americans to explore the $1 trillion-plus commercial openings available in the coming decade in the Kingdom. The response to the Forum – and what it means for American investment and […]

     

MUST-READS

  • Kuwait expands crown prince’s authority amid broader political transition

    Kuwaiti Emir Sheikh Nawaf Al-Ahmad Al-Sabah has transferred certain constitutional duties to Crown Prince Sheikh Meshaal Al-Ahmad Al-Sabah. The Emir’s decree provides few details on the decision, but it comes after the government’s resignation and the recent pardoning of political dissidents who have returned to Kuwait from exile. Some analysts have cited the Emir’s reportedly declining health as the reason behind the abrupt decree.

  • Kuwait’s aging ruler hands some duties to crown prince

    A short statement carried by the state-run KUNA news agency on Monday said Sheikh Nawaf Al Ahmad Al Sabah was relinquishing some of his responsibilities to the country’s octogenarian crown prince and his designated successor, Sheikh Mishaal Al-Ahmed Al-Jaber Al-Sabah. No additional details were provided on Mishaal’s new duties, why he will assume them or for how long.

  • Kuwaiti government submits resignation to emir

    Kuwait’s government has submitted its resignation to the emir, local media reported, in a move that could help end a standoff with opposition lawmakers that has hindered fiscal reform. The resignation on Monday, reported by Al-Qabas and Al-Rai newspapers, was the second time a government headed by Prime Minister Sheikh Sabah Al Khalid Al Sabah has resigned this year in the feud with the elected parliament.

  • ‘Eternals’ Banned In Saudi Arabia, Qatar, Kuwait, Bahrain & Oman

    The anticipated robust overseas box office of Disney/Marvel’s Eternals, which posted a first day of $7.6M, will definitely not have Saudi Arabia, Qatar, Kuwait, Bahrain and Oman in its future release plans.

  • Kuwait, Iraq back OPEC+ oil supply rise plan, despite calls for more

    Kuwait and Iraq support sticking to plans to raise oil output by 400,000 barrels per day (bpd) at an OPEC+ meeting on Thursday, as the U.S. called again for extra supply to cool rising prices. Kuwait's oil minister Mohammad Abdulatif al-Fares said on Monday that the OPEC member supports the plan to raise output, which would ensure adequate crude supply to balance the global market, state news agency KUNA reported.

  • Saudi-Kuwaiti Neutral Zone facing technical issues, maximum output still far off

    The source said total production would likely be capped at about 400,000 b/d to 450,000 b/d in five years due to technical challenges following its 2020 restart, and 500,000 b/d would be a "great achievement" if attained.

  • Saudi Green Initiatives Attract Investment From Kuwait’s Wealth Fund

    The KIA, which is among the world’s biggest wealth funds, has previously invested in the initial public offering of Saudi Aramco. The fund isn’t known to invest widely in the region and has interests in ports, airports and power distribution globally.

  • Saudi Arabia, Kuwait, UAE reiterate support for Bahrain’s fiscal programme

    The three Gulf allies extended a $10 billion aid package to Bahrain in 2018 to help it avoid a credit crunch. Last month Bahrain said that due to the coronavirus crisis last year, it had postponed the target year for a balanced budget to 2024, and announced plans to hike a value-added tax to boost state coffers.

  • Kuwait allows women to join military, igniting debate

    Kuwait’s Deputy Prime Minister and Defense Minister Sheikh Hamad Jaber Al-Ali Al-Sabah has issued a ministerial decree permitting women to join the country’s military. According to the decision, during a preliminary phase, Kuwaiti women will be able to join medical or specialty support services, with the defense ministry planning to add further roles at a later date. Numerous Kuwaiti MPs and citizens continue to debate the policy online, with arguments both in favor of  and against the measure.

  • Kuwaiti Ruler Makes Unprecedented Call for Dialogue Amid Impasse

    The cabinet and parliament haven’t been able to agree on legislation that would let the energy-rich country cover its budget deficit by borrowing in overseas markets, or dipping into its $700 billion sovereign wealth fund. Liquid assets in the treasury were almost entirely depleted last year amid the impasse.