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  • A Tadawul Opening Road Map
     

    Jadwa Investments is a well respected Shariah-compliant investment bank based in Saudi Arabia.  Jadwa’s market studies and regular updates can be counted on to be highly informed and concise analyses of the topic at hand. Their monthly ‘Chartbooks,’ quarterly GDP updates, annual budget report and specific sector analysis are regular features on the Saudi-US Trade […]

     
  • Formidable
     

    Although many in the intelligence community assert that American (at least) foreign policy leaders had been alerted to the threat of re-emerging Sunni extremism in Iraq, the seemingly sudden appearance of ISIS (also Islamic State, IS, ISIL or Da’ish) in June 2014 has forced the United States along with its regional allies, Europe and even […]

     
  • FocusKSA Video: Former U.S. Ambassador to Saudi Arabia James Smith on the King Abdullah Scholarship Program
     

    The number of students participating in Saudi Arabia’s King Abdullah Scholarship Program has skyrocketed over the past decade from around 2,000 students in 2002 to over 80,000 today, comments former U.S. Ambassador to Saudi Arabia James B. Smith. In a recent FocusKSA (a joint Saudi-US Trade Group/SUSRIS.com initiative) interview with Pat Ryan, SUSRIS Editor-in-Chief, former U.S. […]

     
  • ‘A New Page’ for Diplomacy between Saudi Arabia and Iran?
     

    In what may be another step in a growing thaw in Saudi-Iranian relations, Iran’s Deputy Foreign Minister Hossein Amir Abdollahian visited Jeddah, Saudi Arabia on Tuesday and met with Saudi Arabia’s Foreign Minister, Prince Saud al Faisal. In remarks to Reuters following the meeting, Abdollahian said that both countries agreed that “a new page” was […]

     
  • Where are U.S. Airstrikes Bombing Islamic State Locations in Iraq From?
     

    Craig Whitlock in the Washington Post reports that recent U.S. airstrikes into Iraq on Islamic State targets are taking off from bases in Qatar and the UAE in addition to aircraft carriers in the Arabian Gulf, but neither government is directly admitting it at this time. That the U.S. is using Gulf allies as their […]

     
  • How Chairman and Owner of the Atlantic David Bradley Played a Key Role in Journalist’s Release
     

    Adam Goldman and Karen DeYoung detail in the Washington Post the role of David Bradley, Chairman and Owner of the Atlantic Media Group, and how the executive worked with an unnamed FBI Agent and Ghanim Khalifa al-Kubaisi, the chief of Qatar’s intelligence service, to free Peter Theo Curtis from captivity in Syria. The article draws […]

     
  • Sfakianakis: Now is the Time for Energy Subsidy Reform in Saudi Arabia
     

    Annual energy subsidies in Saudi Arabia amount to $120 billion; roughly a quarter of all global energy subsidies combined. As with subsidies worldwide, those in Saudi Arabia are in place primarily for political and social reasons. Unfortunately, energy subsidies result in numerous and profound economic distortions that ultimately do not benefit the poor in particular […]

     
  • The Good Stuff
     

    So, Walid, this Saudi student at the University of Southern California was in Pennsylvania talking with some Amish farmers about their camels… A lot has been made of the King Abdullah Scholarship Program (KASP) established in 2005 to encourage Saudi students to study abroad. It is a truly ambitious enterprise that has propelled 150,000+ Saudi […]

     
  • Saudi Arabia’s Timely Push for Solar to Reduce Oil Consumption
     

    It’s no secret that Saudi Arabia’s energy consumption is soaring, and that to meet increasing demand, the Kingdom is siphoning off more and more of its crude to power the booming Saudi economy. Although Saudi Arabia has plenty of oil, what is consumed to meet domestic power demand cannot be sold on the market. Writing […]

     
  • Sfakianakis: ‘The great giant of the emerging markets has finally awakened’
     

    Saudi Arabia’s stability in contrast to many of its neighbors in the Middle East region is a cause for optimism for the Kingdom’s economy and future, writes John Sfakianakis in the Financial Times’ Beyond Brics blog. Noting that those who argue that the Kingdom is the next destination for turmoil have “been thinking that for […]

     

MUST-READS

  • Top Democrat Schumer calls for new elections in Israel, saying Netanyahu is an obstacle to peace

    Schumer, the first Jewish majority leader in the Senate and the highest-ranking Jewish official in the U.S., strongly criticized Netanyahu in a 40-minute speech Thursday morning on the Senate floor. Schumer said the prime minister has put himself in a coalition of far-right extremists and “as a result, he has been too willing to tolerate the civilian toll in Gaza, which is pushing support for Israel worldwide to historic lows.”

  • Saudi Arabia’s Non-oil Economy Hits Record 50% Share of Real GDP

    Saudi Arabia’s non-oil activities hit a historic 50% share of the country’s real GDP in 2023, the highest level on record, according to an analysis of the General Authority for Statistics data by the Ministry of Economy and Planning. This translates to a non-oil economy valued at SAR1.7 trillion (approximately $453 billion) at constant prices, fueled by consistent growth in investment, consumer spending, and exports, the Saudi Press Agency said. The significant contribution from non-oil sectors is attributed to a surge in private-sector investment over the past two years, with a remarkable growth rate of 57%. This has pushed private investment to a record high of SAR959 billion riyals ($254 billion ) in 2023.

  • Record-Breaking Big 5 Construct Saudi 2024 Catalyzes Kingdom’s Construction Boom

    The 12th edition of Big 5 Construct Saudi, the largest construction event in the Kingdom concluded in Riyadh, having welcomed 64,331 attendees across four days from 26 to 29 February 2024 at the Riyadh Front Exhibition & Conference Centre at ROSHN Front. The event was held under the patronage of and inaugurated by His Excellency Mr. Majid Abdullah Al-Hogail, the Minister of Municipal, Rural Affairs and Housing in Saudi Arabia.

  • Prominent Emirati businessman Saeed Juma Al Naboodah passes away

    Prominent Emirati businessman Saeed Juma Al Naboodah, Chairman of the Saeed and Mohammed Al Naboodah Group, and former Chairman of the Dubai Chamber of Commerce and Industry, passed away today (Wednesday, 13th March). The funeral prayer for Saeed Juma Al Naboodah will take place after the noon prayer tomorrow (Thursday). Condolences will be received for three days, starting from Thursday evening prayer and continuing until Saturday, at the designated location in the Al Khawaneej area.

  • Saudi in talks to add new banks to Aramco’s secondary share sale: Report

    Saudi Arabia is in talks to include top Wall Street banks for the proposed secondary share sale in oil giant Aramco, Bloomberg reported, citing informed sources.   The kingdom plans to hire JPMorgan Chase & Co. as one of the main underwriters to the offering, with Bank of America and Morgan Stanley contending for lead roles on the deal, which could raise as much as $20 billion, the report said.   The final list of advisers may change and more banks are expected to be added before the deal launches. No final decisions have been made on the sale's timing or the offering's size.

  • CEO interview: Riyadh’s King Abdullah Financial District is being ‘activated’ in 2024

    This year will see the "activation" of the King Abdullah Financial District (KAFD), according to the CEO of the firm developing the project, and will involve building more infrastructure, including car parking spaces, more office spaces, retail and the district’s “green lung”. Gautam Sashittal, CEO of KAFD Development and Management Company (KAFD DMC), said 95 buildings have been delivered in the district so far, amounting to 50% of the district area already being built on, an area of 1.6 million square metres. “Our challenge today is to keep the city active as we build for the future. So we already have 10 new projects that are either in design or under construction,” he said. 

  • Saudi Arabia’s PIF To Ramp Up Bond Sales, IPOs to Pay for MBS’s Projects

    Saudi Arabia’s sovereign wealth fund is considering plans to accelerate debt sales or obtain bank loans as it hunts for new sources of cash to help pay for Crown Prince Mohammed bin Salman’s trillion-dollar economic transformation project. The Public Investment Fund could also line up equity offerings in its portfolio companies as part of the push, according to people familiar with the matter. The moves come as the fund’s cash reserves have dropped to $15 billion as of September — the lowest level since 2020, the earliest year for which data is available.

  • Gulf Capital partners with RDIA to deploy $100 million in Saudi tech sector

    Gulf Capital announced today that it has signed an agreement with the Saudi Research Development and Innovation Authority (RDIA) to deploy over $100 million into the Saudi technology and innovation sector over the next five years. The Letter of Intent (LoI) was signed in Riyadh by Dr Rami Niazi, Vice Governor of Strategy at the Saudi Research Development and Innovation Authority, and Dr Karim El Solh, co-founder and CEO of Gulf Capital.

  • Pepsi unveils new global visual identity across the Middle East

    After 14 years, Pepsi is introducing its first major visual identity update, unveiling it across over 120 markets, including the Middle East. To mark this milestone in the region, Pepsi organized light and digital installations at landmarks across the Middle East, such as AlUla in Saudi Arabia, the Nile River in Egypt, the Dubai skyline, and Pigeon Rock in Lebanon. Pepsi highlights this as its first major global rebranding initiative designed to resonate with the vibrant culture of the Middle East.

  • InterContinental opened 5 hotels in Saudi Arabia in 2023, 29 to follow: CEO

    The InterContinental Hotels Group (IHG) opened five new hotels in Saudi Arabia in 2023, with 3,155 rooms. It also signed 14 agreements, and will soon launch another 29 hotels with 10,314 rooms, Asharq Al-Awsat newspaper reported, citing CEO Elie Maalouf. Maalouf pointed out that the Saudi hospitality sector is growing and is expected to witness an increase in revenues to reach $2.93 billion during 2024, with an annual growth rate of 3.33%. He also expected the market size to reach $3.34 billion by 2028. With nearly 50% of the group's development projects in the region completed, the Saudi market represents the most prominent opportunity for IHG hotels and resorts. This is especially true in light of Saudi Vision 2030 as a major contributor to diversifying economic activity.