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  • Saudi CMA Approves Rules for Exchange-Listed Real Estate Funds
     

    Saudi Arabia’s Capital Markets Authority (CMA) announced that it has approved rules for exchange-listed real estate funds as Kingdom seeks to entice investment to develop housing in Saudi Arabia. “It is important to mention that these instructions aim to regulate offering of Real Estate Investment Traded Funds that has a primary investment objective to invest in construction developed […]

     
  • Yemen’s Houthi Rebels Fire Missiles Toward Holy City of Mecca in Saudi Arabia, Coalition Says
     

    Yemen’s Houthi militia launched a ballistic missile toward Mecca on Thursday, the Saudi-led coalition intervening in Yemen’s civil war on behalf of the government said in a statement. Reuters via the Saudi Press Agency (SPA) reports that Coalition forces “destroyed the missile 65 km (40 miles) from the holy city before it could do any […]

     
  • US Customs Facilities Coming to Riyadh, Jeddah Airports to Add Convenience, Efficiency to U.S.-Saudi Travelers
     

    The United States Customs and Border Protection (CBP) will soon set up facilities at Riyadh and Jeddah airports to process U.S.-bound passengers’ arrival documents before landing in the U.S., the Saudi Gazette reports, citing a person with knowledge of the situation who spoke with the Okaz Arabic daily. Long delays and extra screenings have become standard for […]

     
  • Will Saudi Spending Cutbacks Slow the Kingdom’s Push for Middle Class Home Ownership?
     

    The local director of real estate services firm Jones Lang LaSalle (JLL) said Saudi Arabia’s state spending cuts will pressure people’s ability to buy their own homes and could push housing prices in some segments down by nearly a third, according to a report in Reuters. A reduction in subsidies available to government employees and […]

     
  • Candor from High-Ranking Saudi Ministers on Economy Latest Example of Increased Transparency
     

    Several high-ranking officials and Ministers in Saudi Arabia discussed the state of the Kingdom’s economy on a popular television show last week, according to Bloomberg, in what amounted to “an unusual attempt by a government not known for transparency to promote its plan to cope with the plunge in oil prices.” “Saudis who switched on a […]

     
  • Yemen Ceasefire Tested by Missiles, Airstrikes
     

    The 72-hour U.N.-backed truce in Yemen came under duress on Thursday when missiles fired from inside the war-torn country killed two civilians in Saudi Arabia, while a Saudi-led coalition launched air strikes that Iran-allied Houthi fighters said killed three people, according to reports. The U.N.-brokered ceasefire began late on Wednesday, which “brought Sanaa its first night without air strikes in […]

     
  • Government Payments to Top Companies Resume, Al-Assaf Says on Saudi TV
     

    Saudi Arabia has resumed payments of its debts to contractors after long delays that imperiled company finances and hurt investor sentiment, according to Bloomberg, which cited comments made by Saudi Finance Minister Ibrahim Al-Assaf on Saudi television. In the televised interview late on Wednesday, Al-Assaf said payments have been “regularized and will rise in the coming period.” […]

     
  • 72-Hour Ceasefire in Yemen Set for Wednesday Night
     

    The United Nations Special Envoy to Yemen announced a 72-hour cease-fire to begin Wednesday night, after he received commitments from all of the country’s warring factions, according to reports. Ismail Ould Cheikh Ahmed said the cessation of hostilities will begin at 8:59 p.m. UTC Wednesday and could be renewed after the initial three-day period. Twice […]

     
  • Are oil markets better off with OPEC cuts?
     

    Jadwa Investment’s latest Quarterly Oil Market Update anticipates that OPEC’s decision to announce, but not to implement, a cut in production will likely lead to a small cut in oil production “more akin to a production ’freeze’ rather than an outright cut”. “Any agreement by OPEC, if reached, will of course need to be acted […]

     
  • Saudi Arabia’s PIF, Japan’s Softbank Team Up to Create a Tech Investing Behemoth
     

    Saudi Arabia and Japan’s SoftBank Group will create a technology investment fund that could grow as large as $100 billion, making it one of the world’s largest private equity investors. Softbank is creating a new global tech investment fund, seeded with $25 billion of its own money. The fund, which will be London, UK based […]

     

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