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  • Quarterly Oil Market Update from Jadwa Investment finds Cuts Contributing to Lower Balances
     

    If Saudi Arabia as the de-facto head of OPEC used to set the ceiling for the price of oil, now it looks like that role has been taken over – by U.S. shale producers. However, Saudi Arabia can still set the floor. According to recently released data by Riyadh-based Jadwa Investment, Both OPEC and non-OPEC […]

     
  • Saudi Arabia Looks to Overhaul Billions in Government Projects, Report Says
     

    Saudi Arabia’s government is ordering its ministries and agencies to review billions of dollars’ worth of unfinished infrastructure and economic development projects “with a view to shelving or restructuring them,” a report in Reuters said, citing government sources. According to the report, Riyadh’s Bureau of Capital and Operational Spending Rationalization, set up last year to make […]

     
  • In First, Full Japanese Orchestra Performs in Riyadh
     

    For the first time, a Japanese orchestra has played a live performance in Saudi Arabia’s capital, the latest step forward for Saudi culture and prospects for greater entertainment options for Saudi citizens. Minister of Culture and Information Adel Al-Toraifi opened the first Japanese full orchestra concert in Saudi Arabia on Thursday night at King Fahad […]

     
  • Tadawul Announces Update on Progress To Reforms
     

    Saudi Arabia’s stock exchange, the Tadawul, today provided in a press release “an update of its progress across a range of far-reaching capital market reforms to enhance efficiency, corporate governance, and transparency.” The reforms are part of the Exchange’s efforts to further align Saudi capital market with international standards and make it more attractive to […]

     
  • Saudi Economic Data for February Paints Another ‘Mixed Picture’
     

    Saudi Arabia’s economic data for the month of February 2017 showed a mixed picture for the Kingdom, with foreign reserves falling to $514 billion in February, the lowest since August 2011. The latest Jadwa Investment monthly chartbook for February finds cash withdrawals from ATMs and POS transactions showed a downward trend, but non-oil PMI was […]

     
  • Saudi Shoura Council Takes Aim at Much Maligned Saudi Airports, Demands Vision for Change
     

    The Shoura Council asked the General Authority for Civil Aviation (GACA) Wednesday to establish a strategic vision to make Saudi airports among top ranked globally, achieve competitiveness, ensure safety and serve customers in the best manner, according to reports. Saudis are often embarrassed of their outdated and poorly operated airports and look enviously at other […]

     
  • White House Supports Development of ‘A New United States-Saudi Program’, Endorses Strong Saudi Relationship
     

    The White House released a statement yesterday calling for the development of “a new United States-Saudi program” after the President hosted Deputy Crown Prince Mohammed bin Salman for a lunch meeting. The statement re-affirmed the U.S.-Saudi political, military, security, economic, cultural, and social relationship and the importance of the U.S. and Saudi Arabia working together “based […]

     
  • Saudi Aramco Selects D.C.-Based FTI Consulting as Media Advisor for IPO, Report Says
     

    Saudi Aramco has chosen Washington, D.C.-based FTI Consulting as global media adviser for what is expected to be the world’s largest initial public share offer, industry sources told Reuters. FTI Consulting will join already-tapped financial houses to assist with the listing, including Moelis & Co., Evercore, JPMorgan Chase & Co and Morgan Stanley. FTI “will support Aramco’s communications […]

     
  • U.S., Saudi Arabian Agribusiness Majors May Partner to Bid on Saudi Grains Milling Privatization
     

    Saudi Arabia’s largest private agriculture company, Almarai, and U.S. agribusiness Archer Daniels Midland Co. are reportedly among companies eying Saudi Grains Organization’s (SAGO) milling operations, the kingdom’s sole supplier, according to an exclusive report by Reuters. The state-owned SAGO handles the Kingdom’s grains purchases, and is one of the world’s largest wheat and barley buyers. The company […]

     
  • Despite Major Investments in Uber, Careem, Saudi Arabia Bans Ride-Sharing Apps from Airport Pickups
     

    Saudi Arabia’s government has banned ride-sharing apps from making airport pickups, a report in Al Arabiya said, less than a year after the Kingdom’s Public Investment Fund (PIF) invested $3.5 billion into Uber and STC put $100m into Careem. The announcement is a setback for customers who prefer the ease, convenience, dependability, and safety of ride-sharing apps […]

     

MUST-READS

  • U.S.-Saudi FMS
    U.S., Saudi share security assistance update

    “These once a year, face-to-face, meetings are critical,” Conrad Bonner, the deputy director of Central Command Regional Operations at USASAC, said. “When we are able to get together, we are able to solve funding problems, we can solve scheduling and delivery problems, and we are able to get decisions directly from the Saudi and U.S. commanders on the way to proceed forward.”

  • U.S.-China
    The U.S. Could Lose a War With China

    But the sheer number of ships, missiles, planes, and people doesn’t tell the whole story. What already gives the Chinese the advantage is geography.

  • U.S.-Afghanistan
    Perspective: Afghanistan peace talks – U.S. pushes toward “face-saving way out”

    The ongoing negotiations between the U.S. and the Taliban are a “charade” designed simply to provide the U.S. a “face-saving way out of Afghanistan,” former CIA deputy director Michael Morell tells Axios.

  • U.S.-Turkey
    Turkey has ‘no patience left’ with U.S. on Syria safe zone

    U.S. special envoy for Syria James Jeffrey held talks in Ankara this week on the zone and other issues, including progress on a roadmap agreed last year for the northern town of Manbij to be cleared of the Kurdish YPG militia.

  • U.S.-Saudi Relations
    U.S. Air Force expands operating base in Saudi Arabia

    Several hundred U.S. Air Force personnel are expanding an operating base in Saudi Arabia, which will host fighter planes and Patriot missiles, officials said. The move to establish an expeditionary annex at Prince Sultan Air Base, which the U.S. military left 15 years ago, has been prompted by increasing threats from Iran.

  • U.S.-Iran
    U.S. Warship ‘May Have’ Brought Down A 2nd Iranian Drone, General Says

    Defense Department officials also said that in addition to the unmanned aircraft, the USS Boxer was forced to contend with at least one Iranian helicopter and several fast boats that moved toward the ship on Thursday morning.

  • U.S.-Pakistan
    Reset With Unpopular U.S. May Be Tough Sell in Pakistan

    However, a purely political "reset" may be a somewhat tough sell for Khan at home in Pakistan, where approval of U.S. leadership -- while never very popular over the past decade -- has slipped to 14% since Trump took office.

  • Iran Sanctions
    U.S. Imposes New Sanctions on Chinese Company for Transporting Iranian Oil

    Secretary of State Mike Pompeo told The Wall Street Journal on Monday that Chinese company Zhuhai Zhenrong and one of its executives, Youmin Li, knowingly violated U.S. sanctions barring the import of Iranian crude oil.

  • Iraq
    U.S., Iran May Fight in Iraq After Tanker Attacks, Downed Drones

    Drones have been downed and tankers attacked in the Persian Gulf as U.S.-Iran tensions raise fears of war around a critical oil chokepoint. But any conflict between rivals might actually start in the one country where both sides have forces on the ground: Iraq. After two wars with America since 1990, a brutal civil conflict and the rise of Islamic State more recently, about 5,200 U.S. troops are stationed in Iraq -- amid thousands of Iranian-backed Shiite militias, controlled by officials in Baghdad sympathetic to Tehran.

  • Middle East Travel
    Iran-U.S. Spat Leaves Mideast Airlines Encircled by Hostile Skies

    Airlines in the Middle East are used to avoiding trouble spots, but airspace closures spurred by mounting tension between Iran and the U.S. mean they now face diversions whether flying north, south, east or west. Conflicts in the region had left a legacy of no-fly zones long before the latest flareup between Washington and Tehran. Israeli airlines have been barred from skies above most other Mideast states for decades, while wars in Syria and Yemen mean overflights there are too risky, according to regulators. And rifts between Arab nations have added to the patchwork of no-go areas.