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  • Saudi reforms detour through Vienna faith centre
     

    Although launched by Riyadh and named the King Abdullah International Centre for Interfaith and Intercultural Dialogue (KAICIID), bin Muaammar stressed it is not a Saudi entity. “This is an international institution,” he said. “About 70 percent of the world’s religions are on its board. The centre will be a neutral place to exchange ideas.” In […]

     
  • Saudi Arabia’s Power List – 2012
     

    Welcome to the first Arabian Business Saudi Power List – our guide to the kingdom’s most influential movers and shakers. As the rest of the planet, from emerging to traditional markets, teeters on the brink of recession, the mood has never been more positive in Saudi Arabia. A high oil price has swelled the kingdom’s […]

     
  • Regional e-commerce firms set sights on Saudi Arabia
     

    Digital expert Omar Christidis, founder of ArabNet, the hub for Arab digital professionals and entrepreneurs, said that Saudi Arabia is currently the largest digital market in the MENA region – with almost 40 percent of all Arabic tweets, half of Wikipedia’s Arabic content and 35 percent of all Arabic content on the web coming from […]

     
  • For Saudi Football, a Moment in the International Spotlight
     

    Saudi Arabia’s national football team has had its ups and downs in the last decade, thus far struggling to make a name for itself as a contender in a world full of elite national teams. Nevertheless, the ups and downs of the Saudi program are closely followed by Saudis all over the world and has, […]

     
  • Jadwa Investment – November 2012 Saudi Chartbook
     

    Jadwa Investment’s Saudi Chartbook for the month of November 2012 assesses a number of key aspects of the Saudi economy including the real economy, bank lending, banking indicators, inflation, trade, oil, exchange rates, the TASI (Saudi Stock Market), sectoral performance, and third quarter earnings. To read the entire report in full as a PDF, click […]

     
  • Saudi Arabia’s SABIC sets sights on U.S. shale gas boom
     

    Saudi Basic Industries Corp (SABIC) is considering investing in the United States to capitalise on the shale gas boom there, its chief executive told Reuters on Monday. SABIC and other petrochemical producers in Saudi Arabia have been looking for additional gas supplies to fuel their expansion plans, with SABIC now casting its gaze overseas. “We […]

     
  • Saudi Arabia Seeks $6.7 Billion of U.S. Transport Planes
     

    Saudi Arabia plans to buy 20 C-130J military transport planes, five KC-130J refueling aircraft and related equipment from Lockheed Martin Corp. (LMT) valued at about $6.7 billion, the Pentagon said today in a statement.The Pentagon’s Defense Security Cooperation Agency notified Congress of the potential sale to Saudi Arabia, the agency said in a statement posted […]

     
  • Vela-Bahri merger creates one of the world’s largest shipping firms
     

    Vela International Marine Limited, a subsidiary of Saudi Arabian Oil Company, signed a landmark merger agreement with the National Shipping Company of Saudi (Bahri), resulting in the creation of one of the world’s largest shipping companies.The signing of the agreement was held Sunday and attended by executive officials of both parties including Khalid A. Al-Falih, […]

     
  • Commentary: Saudi Arbitration Court in the UK?
     

    In a recent Financial Times article Caroline Binham and Helen Warrell reported that, “Saudi Arabia will lobby the UK government as early as November to set up a confidential court in London that would settle multimillion pound commercial disputes arising from the Middle Eastern kingdom. The Saudis hope that a London-based arbitration centre would help counter investor […]

     
  • Saudi Arabia: Rising steel demand
     

    Steel producers in Saudi Arabia are set for a busy few years, with growth in the industry driven by rising demand due to state-backed investments and increasing activity in the private sector. However, even with additional capacity, the sector is working to bridge the supply gap. The Kingdom is already the largest steel producer in […]

     

MUST-READS

  • Saudi Aramco stock climbs on Q2 results, dividends

    Shares of Saudi Aramco (2223.SR) are trading higher after the company met second quarter net income expectations and will pay a quarterly dividend totaling $31.1 billion. Yahoo Finance reporter Ines Ferré breaks down the details, analyzing the company's financials and providing insights into the broader oil industry landscape.

  • Revolutionizing GCC Logistics: Impact of the Proposed Kuwait-Saudi Railway

    The Kuwait-Saudi Railway, a groundbreaking infrastructure project set to stretch 650 kilometers and connect Kuwait City with Riyadh by 2028, could revolutionize logistics in the Gulf Cooperation Council (GCC) region. This rail link promises to bring about significant improvements in efficiency, cost-effectiveness, and environmental sustainability, marking a transformative moment for the region’s logistics landscape.

  • Distressed companies on rise in Saudi Arabia and UAE, study says

    The number of distressed companies in the UAE and Saudi Arabia has increased by almost 9 percent in the past year, with the sectors most at risk including chemicals, commodities and specialised retail. Concerns also surround the consumer-facing food and beverage industry in both countries, according to a report from consultancy Alvarez & Marsal. A&M defines distressed companies as those that have “significant” deficits in terms of both their financial and earnings situation.

  • Saudi Cabinet approves fundraising law

    Minister of State, Member of the Cabinet and Acting Minister of Media Dr. Essam bin Saad bin Saeed said in a statement to the Saudi Press Agency that the Cabinet discussed cooperation and joint work with various countries and organizations, carried out to enhance the Kingdom's position, and its regional and international role, as well as to serve common interests, and support stability and prosperity in the region and beyond.

  • Saudi Aramco ‘confident’ in its oil demand growth forecasts

    Saudi Aramco maintained its medium- and long-term demand forecasts on Aug. 6, with 52% of crude oil production output used in refining and other downstream operations in the second quarter of 2024.

  • Saudi Arabia announces key Labor Law amendments to improve work environment

    The Ministry of Human Resources and Social Development stated that the new amendments encompass 38 articles, deleting seven articles, and adding two new articles to the Labor Law. These amendments are in line with the Saudi employment market strategy as well as international agreements ratified by the Kingdom. The ministry said that the new amendments will be effective after 180 days from the date of their publication in the official Gazette.

  • Aramco to become majority shareholder in Petro Rabigh, an integrated refining and petrochemical complex in Saudi Arabia

    Aramco, one of the world’s leading integrated energy and chemicals companies, has signed a definitive agreement to acquire an additional stake of approximately 22.5% in Rabigh Refining and Petrochemical Co. (“Petro Rabigh”), the refining and petrochemical complex located on the Kingdom of Saudi Arabia’s west coast, from Sumitomo Chemical for $702 million.

  • Saudi delivery drivers bake in ‘deadly’ summer heat

    Gulping a bottle of cold water as the mercury neared 50 degrees Celsius (122 degrees Fahrenheit), the motorcycle driver said he was well aware the Gulf kingdom's harsh summer heat could be fatal. Yet only by pushing through and filling the daily blitz of food orders will he earn enough money to send something back home, his main reason for coming to Saudi Arabia in the first place.

  • Saudi Aramco’s Production Policy Is Weighing on Its Stock Price

    The report noted, however, that Aramco is a very different company from either Exxon or Shell because it is still majority-owned by the Saudi state, which can direct corporate strategy and is indeed doing just that. It’s worth noting that from a certain perspective, Aramco’s production cuts helped keep prices above a certain level, helping Exxon, Shell, and the rest of Big Oil keep posting higher results.

  • Saudi Aramco Q2 profit drops 3.4 percent on lower volumes, refining margins

    Oil giant Saudi Aramco on Tuesday reported a 3.4 percent fall in second-quarter profit on lower crude volumes and softer refining margins. Aramco posted second-quarter net income of 109.01 billion riyals ($29.03 billion) in the three months to June 30, beating a company-provided median estimate from 15 analysts of $27.7 billion.