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  • SACM Career Fair and Graduation Ceremony Begins in Washington
     

    Saudi students from around the United States are descending on the U.S. capital for a graduation ceremony and career fair organized by the Saudi Arabian Cultural Mission (SACM) on May 26-27. SACM, in coordination with the Saudi Ministry of Higher Education, will host the SACM Career Fair and Graduation Ceremony this weekend at the Gaylord […]

     
  • Global Markets Drag on TASI
     

    The TASI has dipped over the past month, primarily due to global factors. First quarter results of listed companies point to ongoing strength in the domestic economy, with profits 14.9 percent higher than in the first quarter of 2011. Nonetheless, the TASI is down by 10 percent since the end of March, mirroring falls on […]

     
  • USTR: Saudi Continues to Protect Intellectual Property Rights
     

    The Office of the U.S. Trade Representative on Monday released the 2012 Special 301 Report reviewing the intellectual property protection policies of foreign nations.  Saudi Arabia is not named on the “Watch List” again this year and has not been since a successful Out-of-Cycle Review in 2009 to resolve IP issues in cooperation with the […]

     
  • How Gulf Countries Are Splurging at Home
     

    Asa Fitch, writing in the Wall Street Journal, details the extent to which oil dollars are fueling economic growth “at home” for GCC countries: Booming oil prices are flooding Arab countries with money, but where the lion’s share of that wealth would once have been pumped into the world’s financial markets, much of it is […]

     
  • Island in the Gulf – A Film of Juraid Island
     

    One of the great joys of living in Saudi Arabia has always been the natural environment itself – the dunes, the jebals and especially the Gulf with its beaches, reefs and islands. For those lucky enough to visit Juraid Island, fifteen miles offshore from Jubail, the experience has always been unforgettable. A pristine island shaped […]

     
  • Foreign Military Sales Keep Production Lines Hot
     

    “Partnership building is part of one of the largest benefits that we see,” Hunt said. “It’s building and maintaining friendships, it’s about building allies. United States Central Command, or CENTCOM, is obviously a very busy place for the United States now. The more that we can help those countries not only defend, but operate amongst […]

     
  • SEC unveils SR452b projects
     

    The Saudi Electricity Company (SEC) has allocated SR452 billion to implement energy projects until the year 2021 according to SEC Chairman of the Board of Directors Dr. Saleh Bin Hussein Al-Awaji. These projects will provide services consistent with international standards, including building up an adequate power at a peak time about 10 percent of combined capacity. The […]

     
  • US and Saudi team up for renewable energy projects
     

    The United States and Saudi Arabia are prepared to sign a number of deals related to the establishment of investment and service projects depending on renewable energy resources, Arab News reported. US Assistant Secretary of Commerce for Manufacturing and Services, Nicole Lamb, said the US would support the Kingdom on its drive to develop clean […]

     
  • The arms spending map of the world
     

    How much do countries spend on their militaries? This data from the Stockholm International Peace research Institute shows the world in arms spending – both in dollars over time and as a percentage of GDP.

     
  • Major Banks Expanding in Saudi Arabia
     

    “We’d be crazy to limit ourselves to a handful of bankers when we can see oil prices are going to sustain the Saudi economy for the foreseeable future,” Rory Gilbert, the head of Middle East and North Africa at London-based Barclays’s wealth management unit, said in an interview this week in Dubai. “In four or […]

     

MUST-READS

  • Muslim country group to push for Gaza truce – Turkish source

    A newly formed group of senior officials from several Muslim countries will visit the U.N. Security Council's five permanent members and others to press for an immediate ceasefire in Gaza, a Turkish foreign ministry source said on Tuesday. The group was formed earlier this month at a summit of the Arab League and Organisation of Islamic Cooperation (OIC) in Riyadh. It includes foreign ministers and representatives from Turkey, Qatar, Egypt, Jordan, Nigeria, Saudi Arabia, Indonesia, the Palestinian Authority, as well as the OIC Secretary General. The source said the group had started talking with the permanent U.N. Security Council members - the United States, China, Russia, Britain, and France - with a visit to Beijing on Monday, and would also go to other countries.

  • Opinion: Israel’s Palestinian strategy was a grave miscalculation

    The most important factor in determining the political outcome of Israel’s current war will not take place in Gaza — but will instead unfold in the West Bank. That’s because if Israel really wants to deliver a serious long-term blow to Hamas as a potent political movement among the Palestinian people, it’s going to be essential to seriously rethink its attitude towards the Islamist extremist group’s archrivals: the Fatah-dominated Palestinian Authority (PA) in the West Bank and Palestine Liberation Organization (PLO) on the international stage.

    Without strengthening these Palestinian groups, which still represent the mainstream of the national movement, Hamas and even more extreme groups will almost certainly continue to grow and thrive among the Palestinian people.

  • Rystad Energy on Saudi Arabia crude production cuts

    Regardless of the path they take, Saudi Arabia’s decision on the production cuts will ultimately shape the short-term future of global oil prices. The kingdom is balancing the desire to keep prices high by limiting supply with the knowledge that doing so will lead to a further drop in overall market share. Crude prices have experienced significant downward pressure in recent weeks, with prices fell below US$80 per bbl last week after a dramatic sell-off driven by oversupply concerns.

  • Central Bank Digital Currency Development Enters the Next Phase

    Central bank digital currencies can improve payment systems as well as financial inclusion—if they are appropriately designed. If not, they could pose risks. While not all countries may see an immediate case to deploy a CBDC, many countries are exploring CBDCs so they will have the option to introduce one in the future if it becomes pertinent for them. Benefits are more likely to come in time, following the policies pursued by countries and the private sector’s response, as well as the evolution of technology

  • How the U.S. Market Went Sideways for a Wind-Power Giant

    Denmark’s national oil-and-gas company, now known as Ørsted, bet big on renewables a decade ago. It renounced fossil fuels, renamed itself after a 19th-century physicist and embarked on a debt-fueled expansion, becoming the biggest offshore-wind developer outside China. Surfing investor enthusiasm for all things green, Ørsted surpassed BP in market value early in the pandemic.

  • China, Saudi Arabia sign currency swap agreement

    The People's Bank of China and the Saudi Central Bank recently signed a local currency swap agreement worth 50 billion yuan ($6.93 billion) or 26 billion Saudi riyals, both banks said on Monday, as bilateral relations continued to gather momentum.

    Saudi Arabia, the world's top oil exporter, and China, the world's biggest energy consumer, have worked to take relations beyond hydrocarbon ties in recent years, expanding collaboration into areas such as security and technology.

  • New airline compensation rules come into force in Saudi Arabia

    Under the guidelines, airlines are now obligated to offer a compensation of SR6,568 for lost or damaged luggage, ensuring that passengers are not left at a disadvantage due to mishandling of their belongings.

  • Great Expectations: The India-Middle East-Europe Economic Corridor

    The corridor project was launched through a memorandum of understanding signed by India, the United States, Saudi Arabia, the United Arab Emirates, the European Union, Germany, France, and Italy on the sidelines of the September G20 summit in New Delhi. It is envisaged as a network of rail, maritime, road, energy, and telecommunication links aimed at forging economic integration and growth by connecting South Asia, the Middle East, and Europe. The India-Middle East-Europe Economic Corridor is being framed as the West’s and India’s counter to China’s Belt and Road Initiative.

  • Vision 2030 Has Transformed Saudi Arabia’s Legal and Judicial Systems

    Saudi Arabia’s legal reforms aim to provide a legal environment conducive to business while at the same time upholding the centrality of sharia in the kingdom’s judicial and legal systems.

  • Yemen’s Houthis capture ship linked to Israeli billionaire

    A ship linked to an Israeli tycoon and its international crew have been captured by Yemen’s Ansarullah movement, better known as the Houthis. Israel has blamed the incident in the Red Sea on Iran, although Tehran denies any involvement. Meanwhile, Tel Aviv is also avoiding any reference to the apparent Israeli ownership of the vessel—possibly with the aim of reducing pressure to retaliate. The threat to Israeli civilian shipping highlights the broader repercussions of the war between Israel and the Palestinian Hamas movement in Gaza.