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  • Defense Secretary Hagel in Riyadh, Greeted by Saud al-Faisal and Amb James Smith
     

    SUSRIS reports that US Defense Secretary Chuck Hagel arrived in Riyadh on Monday.

     
  • Islam and science: The road to renewal
     

    The tide of money is bearing a fleet of results. In the 2000 to 2009 period Turkey’s output of scientific papers rose from barely 5,000 to 22,000; with less cash, Iran’s went up 1,300, to nearly 15,000. Quantity does not imply quality, but the papers are getting better, too. Scientific journals, and not just the […]

     
  • Nitaqat: Towards a Saudi “New Deal?”
     

    Editor’s Note: ‘Saudization’ is a topic that has garnered a great deal of front-page ink in Saudi Arabia of late.  The Nitaqat (“Ranges”) Program introduced in 2011 has staunch advocates and detractors and the ongoing argument between members of the private sector and the Ministry of Labor over recent fee hikes for foreign employees has been […]

     
  • The emergence of Google
     

    Saudi Arabia is one of the biggest Internet markets not only regionally but also globally. There are 190 million video views on YouTube in Saudi per day. That’s the highest number of YouTube views in the world per Internet user. The average user in Saudi watches three times as many videos a day compared to […]

     
  • Randa Hudome: How do I get my business over to the Middle East?
     

    In addition to featured speakers such as President Bill Clinton and Mr. Abdullah Alireza the recent C3 Summit in New York City presented a number of compelling panel discussions addressing commercial and trade issues related to doing business in the MENA region.

     
  • Showing Pragmatism, Egypt’s Morsi Looks to Saudi
     

    The first official foreign visit of any newly elected president represents a significant symbolic statement. Knowing this, new leaders choose their first visit very carefully, often selecting a country that is either a major strategic ally or an important trade partner. Nonetheless, the Egyptian government’s announcement that President Mohammed Morsi’s first foreign visit will take […]

     
  • Opening the TASI: What You Need to Know
     

    Saudi Arabia, the world’s largest oil exporter and the Middle East’s biggest economy, is about to complete a gradual process to open its stock market, known as the Tadawul or TASI, directly to international investors for the first time.  The initial step toward this action was to give other GCC countries the right to invest […]

     
  • Saudi Perspective on the Middle East: Obaid
     

    In this SUSRIS exclusive presentation, the “Saudi Perspective on the Middle East: The View from Riyadh” assessment provides: the background and context for Saudi diplomacy — assets and characteristics; economic and energy data; sources of regional instability; the “New Gulf Union”; profile of Gulf defense configurations; the Kingdom’s role in regional stabilization and its political and […]

     
  • Internet in the Middle East Still Short of Its Potential
     

    Last week’s third ArabNet conference for digital entrepreneurs in the MENA region was, by the standard of these things, a modest affair. But nonetheless it showed how the regional digital economy has grown, and how it is poised to take off. As one commentator said: “Jordan for the talent, Lebanon for the creativity, Egypt for […]

     
  • What to Know About the TASI Opening
     

    Saudi Arabia, the world’s largest oil exporter and the Middle East’s biggest economy, is about to complete a gradual process to open its stock market, known as the Tadawul or TASI, directly to international investors for the first time. The initial step toward this action was to give other GCC countries the right to invest […]

     

MUST-READS

  • Officials say a grounded ship has been refloated in Egypt’s Suez Canal

    The Suez Canal Authority said a cargo ship carrying corn that went aground early Monday in the Egyptian waterway was refloated and canal traffic was restored. Adm. Ossama Rabei, head of the authority, said the Marshall Islands-flagged MV Glory suffered a technical failure and the canal deployed four tugboats to help refloat it. He said the vessel was being withdrawn to a nearby maritime park to fix the problem.

  • Egypt to buy $426m worth of helicopters from Boeing

    The US Army has awarded Boeing a $426m contract to produce 12 new CH-47F Chinook helicopters for the Egyptian Air Force, the company announced on Tuesday. The US State Department approved the possible sale of helicopters and related equipment to Egypt estimated at $2.6 bn in May 2022. Egypt requested to purchase 23 Chinooks, suggesting the country could purchase more.

  • Saudi Arabia, Egypt, And Turkey Gear Up For EV Manufacturing

  • Egypt leads 2022 gains, Saudi marks first annual loss in 7 years

    According to Wael Makarem, senior market strategist – MENA at Exness, stock markets have witnessed a difficult period in 2022 as inflation, rising interest rates and the war in Ukraine strongly impacted investor sentiment.

  • Egypt leads 2022 gains, Saudi marks first annual loss in 7 years

    According to Wael Makarem, senior market strategist – MENA at Exness, stock markets have witnessed a difficult period in 2022 as inflation, rising interest rates and the war in Ukraine strongly impacted investor sentiment.

  • Saudi Arabia’s investments in Egypt hit over $6bn

    Saudi Arabia has invested $6.1 billion into 6,017 projects across Egypt, becoming the second largest investor in the country, local media reported. The kingdom’s investments cover various sectors, including industry, construction, tourism, agriculture, services, finance, communications and information technology, Arab News reported, citing Egypt’s minister of trade and industry Ahmed Samir. Bilateral trade exchange rose 41.3 percent to $4.572 billion in 2021, compared to $3.236 billion in 2020.

  • Egypt holding up Red Sea island deal, sources say

    Egypt is holding up the implementation of an agreement over two strategic Red Sea islands that paved the way for Saudi Arabia to take steps toward normalizing relations with Israel, according to four Israeli officials and one U.S. source. Why it matters: The agreement, which was composed of a series of understandings between the U.S., Saudi Arabia, Israel and Egypt, was a significant Mideast foreign policy achievement for the Biden administration.

  • IMF board approves agreement for $3 billion loan to Egypt

    The International Monetary Fund’s executive board has approved a $3 billion support package for Egypt, whose economy has been hit hard by the fallout from the Russia-Ukraine war and the coronavirus pandemic. The approval of the 46-month loan will catalyse additional funding of about $14 billion, the Washington-based lender said in a statement. The package provides for a flexible exchange rate regime and enhanced social safety nets to protect the most vulnerable among Egypt’s 104 million people.

  • Egypt’s trade with Nile Basin countries jumps amid Ethiopia dam crisis

    Cairo’s exports and imports with the region increased substantially in 2021, but they still represent a small portion of the total and growth remains uneven.

  • Saudi Wealth Fund In Talks to Buy Egyptian Bank for About $600 Million

    Saudi Arabia’s sovereign wealth fund is in advanced talks to acquire Egypt’s state-owned United Bank in a deal that could be worth about $600 million, according to people with knowledge of the matter, as the kingdom extends its support for the North African nation. The $620 billion Public Investment Fund would carry out the acquisition through Saudi Egyptian Investment Co. unit, which it set up earlier this year to invest in swathes of Egypt’s economy, the people said, asking not to be identified as the discussions are private.