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  • Entrepreneurship
    Want to push the MENA forward? Work for an entrepreneur

    As new programs in the region teach young people about the merits of starting a business, they also need to position working with a startup as a viable career choice. The two are symbiotic and the full potential of each track cannot be realized without the other. Moving forward, here are two recommendations to help shape efforts supporting entrepreneurship amongst youth:

  • Real Estate
    Saudi Arabia’s Sedco Capital eyes $300 mln Europe real estate deal

    eddah-based Islamic investment firm Sedco Capital plans to arrange a club investment of up to $300 million in European real estate, and will soon distribute its Luxembourg fund range via two European investment firms, its chief executive said.

  • Palestine Recognition
    Sweden recognizes Palestine: Biggest country in Western Europe to do so

    Sweden's foreign minister published a piece about the decision today in the Swedish publication Dagens Nyheter. Sweden's goals, she says, are to support moderate Palestinians within Palestine, give leverage to the country in its negotiations with Israel, and give "hope and belief" to Palestinian youth that it will be possible to attain an ultimately satisfactory agreement with Israel without the use of violence.

  • Renewable Energy Investment
    At Reuters Summit, Saudi Arabia’s ACWA Power shifts toward renewable energy

    Saudi Arabia-based power and water project developer ACWA Power IPO-ACWA.SE is seeking to secure or arranging finance for $15 billion worth of projects, nearly half of which are in renewable energy, its chief executive said.

  • e-Payments
    3 ways bitcoin can make a difference for entrepreneurs in the Arab world

    Paying, and getting paid, especially internationally, is a hassle in the Arab world. At best, entrepreneurs have to pay a fortune to wire money through their national bank system, or through PayPal (even though it's less expensive).

  • Oil Price
    Saudis Make Aggressive Oil Push in Europe

    Days after slashing prices in Asia, Saudi Arabia is now making an aggressive push in the European oil market, traders say. The kingdom is taking the unusual step of asking buyers to commit to maximum shipments if they want to get its crude. “The Saudi push is not just in Asia. It’s a global phenomenon,” one oil trader said. “They are using very aggressive tactics” in Europe too, the trader added.

  • AQAP
    AQAP eulogizes fighter killed in attack on Saudi border crossing

    The AQAP eulogy also indicated that al Omari was particularly incensed by Saudi Arabia's imprisonment of Hayla Quseir, as well as the "kidnapping" of May al Talaq and Amina al Rashed, among others. Hayla Quseir, also known as Umm al Ribab, was has been described as "the most dangerous woman in al Qaeda." She is said to have been involved in recruiting Saudi women to al Qaeda as well as financing the terrorist group and laundering money on its behalf. She was apparently so significant to the organization that upon her arrest by Saudi authorities in 2010, al Qaeda in the Arabian Peninusla's deputy emir, Sa'id al Shihri, promised to take revenge on the Saudi regime for her detention.

  • U.S. Petroleum Liquids
    US poised to become world’s leading liquid petroleum producer

    US crude oil production in August was still lower than either Saudi Arabia’s, at about 9.7m b/d, or Russia’s at 10.1m b/d. The overall US leadership in petroleum is accounted for by its higher production of natural gas liquids such as ethane and propane, which have a lower energy content and are often used as feedstocks for the petrochemical industry rather than for fuel. Still, on current trends the US could catch up with Saudi Arabia and Russia on crude production alone by the end of the decade.

  • Refining Capacity
    New refineries will boost Saudi share of petroleum products market: experts

    The opening of two new oil refineries in Saudi Arabia will help the Kingdom maintain and grow its share of the global crude and petroleum products markets, sector experts have told Asharq Al-Awsat. The SATORP Jubail Export Refinery, owned by Saudi Aramco Total Refining and Petrochemical Company (SATORP)—a joint venture between the Kingdom’s state-owned oil company Saudi Aramco and global oil and gas giant Total—began refining operations on August 1, according to Total’s head of refining and chemicals, Patrick Pouyanné, who was speaking to the Reuters news agency on the sidelines of the European Refining Conference in Brussels on Tuesday.

  • Refining Capacity
    Saudi Refinery Hits Capacity as Total, Vitol See EU Slump

    The Satorp refinery, a venture between Total and Saudi Arabian Oil Co., processed crude at full capacity of 400,000 barrels a day on Aug. 1, Patrick Pouyanne, Total’s president of refining and chemicals, said at a conference in Brussels today. Europe’s refineries are too small and not sophisticated enough to compete with new plants, Chris Bake, executive director at Vitol, the world’s largest oil trader, said at a separate conference in Fujairah, in the United Arab Emirates.