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  • How to create a transmedia hit in the Middle East: C3 Summit:
     

    The distinguished panel of industry leaders walked through a hypothetical case where creative people in the business designed a Middle East based transmedia enterprise and talked through the process of launching and promoting it. They provided an overview of developments in their field in the Middle East and the role of education and creativity in […]

     
  • Saudi Arabia’s ‘golden age of learning’ under King Abdullah
     

    The major barrier in the progress of science in Muslim countries is the absence of a culture based on scientific research. There are no established research strategies, poor institutional support and insufficient integration among science-rich communities. Appointments and promotions in faculties must be based on merit. Muslim countries must create a merit-based structure that fosters […]

     
  • Saudi Arabia’s $220bn spending spree
     

    Even at growth of 3.4 percent, Saudi Arabia’s economy will be the envy of most other large countries. That figure is above the average expected GDP (3 percent) of the G20 nations – of which the kingdom is one – according to Moody’s. And, waiting in the wings, is Saudi Arabia’s vast foreign reserves, which […]

     
  • Saudi Arabia’s 2013 Budget – Jadwa
     

    Budgeted spending is at another all-time high in 2013, as the government continues with its program to upgrade the human and physical infrastructure and spurring economic growth. One highlight of the Ministry of Finance (MoF) budget announcement is the 18 percent jump in revenues. With no new initiatives announced, we think this is a sign […]

     
  • ‘Expansionary’ Saudi 2013 Budget Provides for Record Spending on the Back of 2012 Surplus
     

    A recently released report by Jadwa Investment on Saudi Arabia’s 2013 budget highlights the Saudi government’s plans for record spending to sustain the Kingdom’s economic expansion next year.

     
  • Nitaqat: Towards a Saudi “New Deal?”
     

    Editor’s Note: ‘Saudization’ is a topic that has garnered a great deal of front-page ink in Saudi Arabia of late.  The Nitaqat (“Ranges”) Program introduced in 2011 has staunch advocates and detractors and the ongoing argument between members of the private sector and the Ministry of Labor over recent fee hikes for foreign employees has been […]

     
  • Are Members of Royalty “Foreign Officials” Under the FCPA?
     

    For U.S. companies conducting business abroad, the Foreign Corrupt Practices Act (FCPA) is a constant companion.  The FCPA, “applies to any person who has a certain degree of connection to the United States and engages in foreign corrupt practices. The Act also applies to any act by U.S. businesses, foreign corporations trading securities in the […]

     
  • Saudi Is World’s Largest Market For Islamic Assets
     

    Saudi Arabia is emerging as the largest market for Islamic assets, according to a new report by Ernst & Young. According to the report, Saudi Arabia, with an estimated $207 billion of Islamic assets in 2011, was ranked first in the world. Malaysia was ranked second with total assets of $106 billion and UAE ranked […]

     
  • Riyadh at Night
     

    The population of Riyadh, the capital city of Saudi Arabia, has risen dramatically in the last half century—from 150,000 in 1960 to 5.4 million in 2012. The city appears as a brightly colored patchwork in this nighttime astronaut photograph. The brightest lights, apart from those on the old Riyadh Airbase, follow the commercial districts along […]

     
  • Saudi firms top TRENDS CEO 2012 List
     

    There have been several media reports in 2012 by regional and international media, including TRENDS, commenting on the immense growth seen by the Saudi retail and construction sectors. New entries and a rise through the top CEO ranks of Saudi cement companies is a testament to the vibrancy of the property and construction sectors in […]

     

MUST-READS

  • Expat remittances from Saudi Arabia fall to $33.3 Billion in 2023

    Remittances from expatriates in Saudi Arabia fell 13%, or SAR 18.3 billion, to SAR 124.9 billion in 2023, compared to SAR 143.2 billion in 2022, according to recent data released by the Saudi Central Bank (SAMA). Last year's remittances from expatriates are the lowest since 2011, when they reached SAR 110.4 billion.

  • Al-Jadaan: Saudi non-oil economic growth is expected to exceed 5%

    Minister of Finance Mohammed Al-Jadaan said that Saudi Arabia’s non-oil gross domestic product (GDP) is recording a growth of over four percent and is expected to exceed five percent in the medium term. Attending a panel session at the 3rd Saudi Capital Market Forum in Riyadh on Monday, Al-Jadaan said that the non-oil GDP witnessed healthy growth despite the crises. “This growth confirms the strength and resilience of the Saudi economy.” The minister said that Saudi Arabia promised a major transformation since the launch of the Kingdom’s Vision 2030. “This transformation began to show success and commitment during good and difficult times,” he said while stressing the Kingdom’s commitment to bringing stability and investment opportunities to the world.

  • Nextracker wins 1.17-GW order for Saudi Al Kahfah solar project

    The order was assigned by ACWA Power and engineering, procurement and construction (EPC) contractor Larsen and Toubro Ltd (NSE:LT), or L&T. It concerns Nextracker’s all-terrain NX Horizon-XTR smart solar tracker systems and marks the company’s largest deployment of this series in a single order to date, according to a press release. The 1.581-GWp Al Kahfah is one of three major solar PV Independent Power Producer (IPP) projects being led by ACWA Power and the Water and Electricity Holding Company (Badeel), a wholly-owned company of the Public Investment Fund (PIF).

  • Saudi Arabia Has Become The Fight Capital Of The World

    Las Vegas has been the fight capital of the world for decades. It seems almost crazy to look at any other place as the destination spot for fighters, fans, and the promoters who push the events. Over the past two years, it's become clear that Riyadh, Saudi Arabia, and the Gulf states have taken a significant piece of the pie. So much so it's not a stretch to say Saudi Arabia has become the world's fight capital.

  • Opinion: Here’s what an uncoordinated US withdrawal from Syria would look like. It’s bad for many partners, but especially Turkey.

    Reports have surfaced regarding the possibility of the United States withdrawing from Syria completely. Despite officials rejecting these reports and a recent vote in the US Senate exhibiting reluctance among lawmakers to leave Syria, news of a potential US exit has been closely monitored by regional actors. Turkey is among them. While Ankara may favor a future US withdrawal from Syria, it desires US coordination. An uncoordinated withdrawal by the United States could pose significant risks for Turkey, leaving the country alone against Iran and Russia.

  • Amazon Saudi Arabia expands Ramadan meal support drive with Eta’am, enabling millions of customers to contribute through Amazon.sa

    This Holy Month of Ramadan, Amazon Saudi Arabia expands its longstanding partnership with the Saudi Food Bank (Eta’am), further strengthening its support to serve families in need. Building on four years of collaboration to deliver iftar meals, pack and deliver food essentials, organize community iftars, and more, the company will now offer customers across Saudi Arabia a seamless way to contribute essential day-to-day food items to underprivileged families through Amazon.sa.

  • Saudi Arabia’s AI economy goals key focus for Oracle at LEAP 2024

    Riyadh, Kingdom of Saudi Arabia: Latest cloud innovation that is geared to help Saudi Arabia accelerate its Artificial Intelligence (AI) powered economy will be on display at Oracle’s state of the art exhibit at LEAP 2024. Oracle will this year present a comprehensive portfolio of AI solutions including state of the art cloud applications on a best-in-class AI cloud infrastructure and state-of-the-art generative AI innovations. “Over the last three decades, Oracle has significantly expanded presence in Saudi Arabia to help the Kingdom emerge as a digital economy leader. Our US $1.5 billion investment in Saudi Arabia will play a vital role in expanding local cloud capacity, which will act as the foundation for local organisations to unlock the full potential of latest digital technologies like Artificial Intelligence”, said Reham AlMusa, vice president – Business Applications, and Saudi Arabia Country Leader, Oracle. “AI is seeing incredible adoption in the Kingdom, as businesses look to innovate and grow. PwC estimates that Artificial intelligence is set to contribute $135 billion to the Saudi economy in 2030, making the Kingdom the biggest beneficiary of the technology in the Middle East. Oracle is well positioned to help Saudi organisations leverage this AI opportunity, and LEAP 2024 will be an opportunity for us to demonstrate how our latest AI innovation can help address the most complex business challenges across diverse industries and help drive growth.”

  • Saudi Arabia’s Film AlUla Targets Music Industry With Recording Studio

    Saudi Arabia‘s Film AlUla has announced the construction of a state-of-the-art recording studio, within its recently launched studio complex. Set to open in June 2024, the facility will comprise a 190 sq m (2045 sq ft) studio space, 47sq m (505 sq ft) control room and two Iso booths, as well as catering facilities and a rack room. Film AlUla said it had worked with industry experts to design the facilities, which will provide the latest audio and recording equipment.

  • Saudi Arabian conglomerate Ajlan eyes ‘mega deals’ with Chinese companies in tech, new energy, petrochemical sectors

    Ajlan & Bros Holding Group, a private conglomerate headquartered in Riyadh, Saudi Arabia, is targeting “mega deals” reaching over US$1 billion in value with companies in China’s petrochemicals, new energy, and technology sectors in 2024. The company aims to make strategic investments by acquiring equity stakes, providing financial expertise, and offering legal advice to leading players in these industries, said Vincent Yan, its senior vice-president.

  • Patty Tavatanakit Wins 2024 Aramco Saudi Ladies International

    Patty Tavatanakit fired an exceptional final round of 65 (-7) to win the 2024 Aramco Saudi Ladies International Presented by PIF by seven shots. The major champion produced a wire-to-wire victory with rounds of 66-70-69-65 at Riyadh Golf Club to win with a score of 18-under-par. It is a fifth professional victory for the 24-year-old, her first on the Ladies European Tour (LET) and her first since winning the 2021 ANA Inspiration.  “It’s been a long time since I’ve played this good,” she said. “It’s very emotional, I’m very emotional right now with how I have overcome that and looking back it was just one day at a time, keep working hard.