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  • Smartphone Generation: The Overnight Mobile Internet Revolution in the MENA Region
     

    What is the single indicator related to the online market opportunity in the United Arab Emirates and Saudi Arabia that beats all other developed and developing countries? Just take a look at people in coffee shops, malls, or even at family gatherings, you’ll notice immediately that everyone has a smartphone. To be specific, 74% of […]

     
  • Legalized Drifting: 4-Round Saudi Car Drift to Begin Al-Ahsa
     

    At long last, one Saudi will be able to claim to be the best drifter in the Kingdom. The Saudi Star Drift Championship kicks off this month for the first time, and will be supervised by the Saudi Arabian Motor Federation. The series will take an otherwise illegal but popular hobby in Saudi Arabia and make it […]

     
  • #FocusKSA: Saudi Student Turned Entrepreneur Walid Abdulwahab On His Experiences Running a Successful Business in the U.S.
     

    In the latest FocusKSA discussion, Saudi-US Trade Group President, Richard Wilson, spoke with Walid Abdulwahab, a recent graduate of the University of Southern California and Founder and CEO of Desert Farms, which produces, markets and sells camel milk and camel milk products to a growing list of U.S. retail outlets.  Walid discusses his background, academic experience […]

     
  • SUSRIS: Saudi Oil Production “Crucial” to EIA 2015 Forecast
     

    “Changes in the forecast of Saudi Arabian oil production are crucial to the revised outlook and a major source of uncertainty in the year ahead. Saudi Arabia has indicated interest in preserving market share rather than unilaterally carrying the burden of cutting production to balance the global oil market. In addition to numerous statements by […]

     
  • #SaudiTBT: King Faisal Bin Abdulaziz al-Saud on the Tarmac of Le Bourget Airport in Paris, 1939
     

    Returning in March 1939 from the London Conference (St. James Palace Conference) which attempted to negotiate an agreement between Jews and Arabs in Palestine, Faisal Bin Abdulaziz Al-Saud stands on the tarmac of Le Bourget Airport in Paris, France with members of his delegation.  Among other issues, the London Conference was unable to resolve the matter of […]

     
  • Jadwa Investment’s November 2014 Saudi Chartbook finds Bank Lending to Private Sector Year-on-Year Highs
     

    Jadwa’s November 2014 Chartbook shows bank lending to the private sector recorded its highest year-on-year growth at 13.2 percent and noted that economic data was positive for September. “Bank lending to the private sector recorded its highest year-on-year growth at 13.2 percent, the highest since November 2013,” Jadwa Investment said, noting that generally “economic data was […]

     
  • Khoja Out as Information Minister, Replacement Named
     

    Saudi Arabia’s King Abdullah relieved Culture and Information Minister Abdul Aziz Khoja of his post by royal decree and replaced him with Bandar bin Mohammed Asaad Hajjar, an economist and Saudi Arabia’s Hajj Minister.  Although an Arab News headline said that Culture and Information Minister Abdul Aziz Khoja “quit,” media outlets are speculating that the Khoja was actually […]

     
  • Hamad Bin Nasser’s Classic Cars on Display in Qassim
     

    Hamad Bin Nasser is a fan of classic cars. The Saudi recently paid over $100,000 for a rare car from a collector in the United States, built in 1899.  Even the Emir of Qassim has visited his museum where the cars are viewable to automotive fans. The Saudi Press Agency recently posted photos of the […]

     
  • The Best SPA Photos from October 2014
     

    In the September edition of the best photos from the Saudi Press Agency, a dazzling performance from Saudi security forces, infrastructure in the Kingdom, ancient woodworking and more.

     
  • Video: Full Keynote Address by HRH Prince Turki Al Faisal at the 2014 AUSPC
     

    Prince Turki al-Faisal’s remarks to the 23nd Annual Arab-U.S. Policymakers Conference, entitled, “Framing and Charting the Region’s Issues, Interests, Challenges, and Opportunities: Implications for Arab and U.S. Policies” Saudi Arabia’s Prince Turki al-Faisal is Chairman, King Faisal Center for Research and Islamic Studies, Riyadh, Saudi Arabia and former Saudi Arabian Ambassador to the United Kingdom and to […]

     

MUST-READS

  • How the death of Abdul Malik al-Houthi could impact the Houthis and Iran

    Analysts, however, quickly refuted these claims, citing that Iranian state media had reported nothing to suggest these rumors were true. Houthi later proved he was alive and well when the commander made a video address on the anniversary of the October 7, 2023, the date of Hamas’s attack on Israel. While Houthi is still alive today, his death in the near term would impact the group’s ability to operate and widen a leadership vacuum within Iran’s Resistance Axis.

  • Saudi Chemicals Giant Misses on Profit as Recovery Stalls

    Saudi Basic Industries Corp., also known as Sabic, posted 1 billion riyals ($266 million) in profit in the third quarter, according to a statement on Monday. That’s up from a year ago, when the company suffered a loss due to the sale of its steel unit, but down from the second quarter. Higher feedstock costs and lower average selling prices were a drag, it said.

  • U.S. and Saudi Arabia discuss security agreement separate from Israel mega-deal

    The U.S. and Saudi Arabia are discussing a possible security agreement that wouldn't involve a broader deal with Israel, according to three sources with knowledge of the talks. The agreement wouldn't be the full defense treaty the U.S. and Saudi Arabia were discussing but Saudi Crown Prince Mohammed Bin Salman (MBS) and the White House still want to reach a security agreement before President Biden leaves office in January. Saudi national security adviser Musaad bin Mohammed al-Aiban visited the White House last week and met with his U.S. counterpart Jake Sullivan and with Biden advisers Brett McGurk and Amos Hochstein, the sources said. The idea is to draft a bilateral U.S.-Saudi security agreement similar to those the Biden administration signed with other Gulf countries in recent years, which strengthened the U.S. position in the region, the source said.

  • Saudi Aramco posts 15% drop in third-quarter profit but maintains dividend

    Saudi state oil giant Aramco reported a 15.4% drop in net profit in the third-quarter on the back of “lower crude oil prices and weakening refining margins,” but maintained a 31.05 billion dividend. The company reported net income of $27.56 billion in the July-September period, topping a company-provided estimate of $26.9 billion. The print is also a 5% drop from the previous quarter, which came in at $29.1 billion, as lower global oil prices, weaker demand and prolonged OPEC+ production cuts led by Saudi Arabia continue to impact crude prices.

  • Saudi Aramco posts third-quarter profits of $27.5 billion, down 15% from a year earlier

    Aramco, formally known as the Saudi Arabian Oil Co., had revenues of $111.1 billion over the quarter, the company said in a filing on Riyadh's Tadawul stock exchange. It had $113 billion in revenues the same quarter last year. Profits for the third quarter last year were $32.5 billion. The profit decrease “was mainly due to the impact of lower crude oil prices and weakening refining margins,” Aramco said. Profit for the first nine months of 2024 was $83.9 billion, down from $94.5 billion the year before.

  • In Saudi Arabia, This Immersive New Hotel Keeps the Ancient Past Alive

    Every night, 1,800 candles and lanterns send shadows dancing across the walls of Dar Tantora The House Hotel, casting the interiors of this extraordinary 30-room property in soft shades of gold. Across the road from a thriving oasis, in the heart of AlUla’s Old Town, Dar Tantora inhabits a labyrinthine cluster of mud-brick and stone houses abandoned in the late 20th century. Their restoration—and subsequent conversion into a hotel—was led by Egyptian architect Shahira Fahmy, whom Phaidon describes as one of the premier “architects building the Arab future.”

  • Outlook for GCC IPOs remains positive for 2024 despite a relatively quiet Q3, highlights PwC Middle East

    The higher proceeds was driven by the sizable IPO of energy sector focused EPC solutions group NMDC Energy, the biggest IPO in the UAE so far this year, raising $877m and significantly oversubscribed. The remaining three listings took place on Nomu, the Saudi Exchange (Tadawul) parallel market. The aftermarket performance for companies completing an IPO in 2024 continues to be positive with the majority of the top 10 IPOs (by deal size) trading ahead of the IPO price.

  • GCC economy set to reach $3trn by 2030

    Panellists agreed that while Saudi Arabia and the UAE are major drivers of this growth, other GCC countries can capitalise on the opportunities by offering services and contributing to the regional economy. This interconnectedness ensures that economic growth in any GCC country benefits the entire region, as seen in sectors like tourism, finance and logistics. The economic union and reduced trade barriers further accelerate this positive impact.

  • The case for Arab and Muslim Americans to rally behind Kamala Harris

    Unable to stomach either candidate, many Arab Americans may stay home or vote for Green Party candidate Jill Stein — choices that could potentially sway the result, particularly in the state of Michigan. But anything other than a vote for Harris will be, in effect, a vote for Trump. There are over 300,000 Arab Americans in Michigan. President Joe Biden won there in 2020 by about half that, just over 150,000 votes. Arab and Muslim Americans will also be a significant factor in Pennsylvania, Georgia and elsewhere. With the election so close, every voter and nonvoter will most likely contribute to the outcome.

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  • Saudi Arabia one of the happiest countries in the world, survey reveals

    The Kingdom scored highest out of all 24 countries in the study, with South Korea ranking lowest at 39 percent and Europe overall sitting at 50 percent. Saudi Arabia leads the top 10 countries for satisfaction with a score of 84%, followed by Egypt (81%), India (76%) and Indonesia (75%). The bottom countries are South Korea at 39%, Turkey (41%) and Japan (43%). The US came in at 71%, while the UK scored 63% and France was at 52%. According to the research, physical health, mental health and financial security are the three key ingredients for a good quality of life.

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