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  • Saudi 2017 Budget Will Seek to Reduce Deficit, Create Surplus by 2020
     

    Saudi Arabia’s government will reportedly unveil a plan to balance its high deficit and work to achieve a surplus in 2020, according to a senior government official with knowledge of the matter as quoted in Bloomberg. The plan was devised by the powerful Council on Economic and Development Affairs (CEDA), which is chaired by Deputy Crown Prince […]

     
  • Careem, an Uber Rival in the Middle East, is Newest ‘Unicorn’ Company with Saudi, Japanese Investments
     

    Careem, one of Uber’s rivals in the Middle East, has taken in $350 million in investment led by Japanese e-commerce firm Rakuten and Saudi Telecom Company (STC), the second investment made by Saudi Arabia’s government into ride-sharing apps this year. Saudi Arabia’s Public Investment Fund (PIF) invested $3.5 billion in ride-hailing app Uber in June, […]

     
  • Saudi Arabia’s New Currency Offers Security Upgrades, Phases Out Small Notes
     

    Saudi Arabia has unveiled newly designed banknotes and coins with added security features that make forgery difficult. The new issuance is the first step to addressing the preponderance of one-Riyal bills currently in circulation. Half of all Saudi paper notes are one-Riyal notes, which is worth a little more than a quarter U.S. dollar. A […]

     
  • Surprise Early Gains for Saudi Leaders in Fight Against State Spending as Successful Deficit Cuts Seen Beyond Projections – Reuters
     

    Saudi Arabia’s 2017 state budget is “likely to show Riyadh has shrunk a huge deficit caused by cheap oil faster than expected, which may let it spend more to bolster a shaky economy” next year, according to a report in Reuters by reporters Marwa Rashad and Andrew Torchia. After a tough year economically for the Kingdom, […]

     
  • $800m King Abdulaziz Center for World Culture in Dhahran Opens
     

    Saudi Aramco opened the $800 million King Abdulaziz Center for World Culture in Dhahran on Thursday, a large steel structure that aims to deepen knowledge and creativity among Saudi youth, according to reports. According to Reuters, the center, known as “Ithra” (“to enrich” in Arabic) is located close to Saudi’s “prosperity well” that tapped some of the […]

     
  • Trump’s Complex Global Business Interests Could Present Problems for President-Elect
     

    President-elect Donald Trump’s complex business dealings before and during his candidacy for the office, and now after his victory on November 8th, continue to draw scrutiny from the media and elected officials in the United States. The president-elect has drawn additional attention for his initial meetings with world leaders that apparently mix his business and family […]

     
  • Three New Ventures by MiSK to Boost Innovation, Training and Investment
     

    Deputy Crown Prince Mohammed bin Salman’s MiSK Foundation launched three new strategic ventures in Riyadh aimed “at comprehensively building the skills, knowledge and capability for economic growth within the Saudi Arabian tech sector,” Reuters and the Saudi Gazette reports. MiSK Academy, MiSK Technovation and MiSK Booster mark a significant new development in the foundation’s work to empower, […]

     
  • Updated LinkedIn Profiles Indicate Key Hires by Saudi Arabia’s PIF
     

    Recently updated LinkedIn profiles indicate a hiring spree by Saudi Arabia’s Public Investment Fund (PIF) as the Kingdom looks to use the sovereign wealth fund to jump-start its reform plans. Reuters reports that several executives have updated their LinkedIn profiles to indicate a new affiliation with the PIF, but the PIF did not comment directly on […]

     
  • ‘Downward Trend’ in Economic Activity Seen in Latest Jadwa Investment Chartbook
     

    Jadwa Investment’s recently released economic chartbook for the month of November found a downward trend in economic activity and the fourth consecutive negative change in government accounts with SAMA. “Economic data for September showed a downward trend in economic activity,” Jadwa said it the report, pointing to negative growth in cash withdrawals from ATMs and […]

     
  • 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 […]

     

MUST-READS

  • Cease-Fire Emerges as Key to Israeli-Saudi Normalization

    The Biden administration believes it is still possible to broker a historic normalization deal between Saudi Arabia and Israel, but the window for an agreement is closing with fighting still under way in Gaza and the U.S. presidential campaign ramping up. Saudi Arabia won’t agree to move forward until a cease-fire is in place, but talks to halt the conflict have stalled, according to U.S. and Saudi officials. Secretary of State Antony Blinken, who is traveling in the Middle East this week, is pushing a normalization deal in talks with Saudi and Israeli officials, as part of a broader effort to end the Gaza war, isolate Iran, and stabilize the region. 

  • In the Gulf, Is Civil Society Fighting for Climate?

    Tracking the efforts and successes of civil society elements in underscoring the urgency of addressing climate change will remain a key bellwether for progress on issues relating to global warming, energy transition, and sustainability.

  • How Should the U.S. Respond to a Middle East Crisis Threatening Its Policy and Personnel?

    The October 7 Hamas attacks in southern Israel created an immediate crisis for the President Joseph R. Biden Jr. administration’s policy of promoting greater regional integration and upholding stability and security in the Middle East. That agenda is coming under intensified pressure, most dramatically by the killing of three U.S. service personnel and the wounding of dozens more by a drone strike in Jordan that the White House blames on Iranian-backed militias.

  • How Should the U.S. Respond to a Middle East Crisis Threatening Its Policy and Personnel?

    The October 7 Hamas attacks in southern Israel created an immediate crisis for the President Joseph R. Biden Jr. administration’s policy of promoting greater regional integration and upholding stability and security in the Middle East. That agenda is coming under intensified pressure, most dramatically by the killing of three U.S. service personnel and the wounding of dozens more by a drone strike in Jordan that the White House blames on Iranian-backed militias

  • Arab Public Opinion about Israel’s War on Gaza

    Arab Center Washington DC (ACW), in cooperation with The Arab Center for Research and Policy Studies (ACRPS), conducted a survey of public opinion in 16 Arab countries to gauge the Arab public’s views about the Israeli war on Gaza that began on October 7, 2023, and Arab perceptions of the US role and policies toward the war. The poll is the first of its kind to measure Arab public opinion on the topic.

  • Saudi Arabia’s sovereign fund bolsters ties with private sector at annual forum

    The PIF Private Sector Forum concluded on Wednesday and reaffirmed its commitment to foster strategic partnerships between the private sector Saudi Arabia’s sovereign fund and its portfolio companies. The second edition of forum held in Riyadh was attended by over 8,000 people who include princes, ministers, decision-makers, CEOs, and senior officials from both the public and private sectors.

  • Pakistani firm shows off new drone during Saudi defense show

    Global Industrial Defence Solutions describes the Ranger as a runway-independent tactical UAV. It was designed for intelligence, surveillance, target acquisition and reconnaissance missions, as well as for an artillery fire correction role.

  • Saudi Arabia’s Visionary Biotech Strategy: Leap Towards Global Leadership

    To reduce dependence on imported drugs, Saudi Arabia is focusing on localizing biomanufacturing. By reinforcing its domestic biomanufacturing platform, the Kingdom seeks to enhance self-sufficiency and facilitate the global export of biologics and biosimilars. The promotion of biosimilars adoption (>60%) is envisioned to make high-quality treatments more affordable and accessible to citizens. Recognizing the pivotal role of genomics in precision medicine, Saudi Arabia plans to expand its national genomic database and analytics platform. This initiative aims to foster research and improve disease prevention, with a strong focus on implementing policies that support genomics research and ensure effective access to genome data for more accurate diagnoses and interventions.

  • Saudi Arabia: Pilgrims urged to avoid crowding as Umrah peaks

    Saudi authorities have exhorted Muslims performing Umrah to avoid crowding as the minor pilgrimage season reaches its peak in the holy city of Mecca. The Ministry of Hajj and Umrah has urged the faithful to manifest altruism to head off congestion and jostling at the Grand Mosque, Islam’s holiest place.

  • Saudi ASaudi Arabia: Expat undercover vendors barred from Jeddah marketrabia: Expat undercover vendors barred from Jeddah market

    Saudi market authorities have barred non-Saudis illegally pursuing business from entering a wholesale vegetable market in the port city of Jeddah, according to a media report. The Public Market Management Department at the Saudi Ministry of Environment, Water and Agriculture in Mecca, has requested expatriates to show up with their employers in a restriction aimed to support efforts to localise jobs for Saudi citizens, news website Sabq has reported.