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  • Saudi Defense Minister Prince Salman Visits Pentagon, White House
     

    Saudi Defense Minister Prince Salman bin Abdul Aziz held talks at the Pentagon on Wednesday that focused on the crisis in Syria, hours before a ceasefire deadline was due to expire. The Saudi defense chief later held talks with President Barack Obama in the Oval Office.

     
  • Saudi Arabia & the GCC – post ‘Arab Spring’: Obaid
     

    This week Mr. Nawaf Obaid, former strategic adviser to Prince Turki Al-Faisal, presented a briefing titled, “Saudi Arabia & the GCC in a Post ‘Arab Spring’ Environment” at the Harvard Kennedy School of Government as part of a program examining responses among GCC states to the “Arab Spring” turmoil that started early last year. Obaid […]

     
  • Al-Rabiah moves to push foreign trade and investment
     

    Commerce and Industry Minister Tawfiq Al-Rabiah yesterday opened a major workshop for the development of Saudi commercial attaches as part of the ministry’s efforts to promote trade and investment relations with foreign countries. The workshop attended by top officials from related departments and agencies discussed ways to improve the performance of Saudi commercial attaches abroad […]

     
  • Graphic: The Rise of Saudi Oil Consumption
     

    Saudi Arabia uses as much oil per person as America, largely to run oil-fired power plants to run domestic air conditioners. And the more of its oil siphoned off for such uses, the less cushion there is in the worlds oil supply. Thats a big problem now but is becoming less of one. America and […]

     
  • Critical Commercial and Economic Ties: Interview with Jose Fernandez
     

    The 2nd US-Saudi Business Opportunities Forum in Atlanta in December brought together a high level delegation of over 200 Saudi officials and business people with over 1000 Americans to explore the $1 trillion-plus commercial openings available in the coming decade in the Kingdom. The response to the Forum – and what it means for American investment and […]

     
  • Secretary of State Clinton to Visit Saudi on Friday and Saturday
     

    Clinton will be in Saudi Arabia’s capital of Riyadh Friday and Saturday. There, she’ll meet with Saudi King Abdullah and participate in an event dedicated to the “strategic cooperation” between the U.S. and Gulf Arab states. Washington and many of its allies say Syrian President Bashar Assad has lost all legitimacy in a year of […]

     
  • Geithner welcomes Saudi oil pledge
     

    U.S. Treasury Secretary Timothy Geithner said he welcomed Saudi Arabia’s pledge to continue to make sure oil supplies are sufficient to meet demand.

     
  • Car-nage
     

    In his weekly piece for Arab News, Abdulateef Al-Mulhim takes a look at the extraordinary toll exacted on Saudi roads. With well-engineered roads and streets and access to the latest and safest automobiles, he says, Saudi Arabia still leads the world in highway fatalities. He offers a few ideas about how to gain control over […]

     
  • Jadwa Saudi Chartbook – March 2012 – Banking
     

    Bank deposits rose for the fifth consecutive month in January, with demand deposits accounting for the entire rise to reach almost 60 percent of total bank deposits. Bank excess deposits at SAMA remained very high, giving scope for further lending growth.    

     
  • Jadwa Saudi Chartbook – March 2012 – Trade
     

    According to Jadwa Investment’s March 2012 Chart Book,  “Non-oil exports hit a new all-time high in December owing to greater production of petrochemicals and plastics. Imports also jumped that month and data on letters of credit issued for imports suggest further rises are likely in the months ahead.”  

     

MUST-READS

  • COP28: will there be an agreement to phase out fossil fuels?

    It's the issue at the core of COP28: will this year's U.N. climate talks, held in major oil producer the United Arab Emirates, produce the first global agreement to phase out fossil fuel use? Burning fossil fuels for energy is by far the biggest cause of climate change. It is also the engine of modern life - even with the growth of renewables, fossil fuels produce around 80% of the world's energy. U.N. climate negotiations over the last three decades, however, have yet to address the issue head on.

  • Saudi Economy Shrinks 4.4% In Third Quarter On Plunge In Oil Sector

    The country’s oil activities plunged by 17% year-on-year in the quarter, while non-oil and government activities rose by 3.5% and 1.9%, respectively, in the quarter, according to the General Authority for Statistics (GASTAT).

  • Viewpoints: Saudi Arabia forecasts $21 billion deficit in 2024

    Saudi Arabia approved its 2024 budget on Wednesday, which forecasts a fiscal deficit of 79 billion riyals ($21.06 billion) or 1.9% of GDP next year, as it pushes ahead with plans to bolster its non-oil sectors as part of plans to diversify its economy.

  • Watch Oil Analyst Sankey Says Saudi May Try to ‘Dump the Market’

    Paul Sankey, founder and lead analyst at Sankey Research, says Saudi Arabia may “dump the market and try to make everyone honest again” in the second quarter of next year out of frustration with production from Iran and the US.

  • U.S. still wants to see Saudi-Israel normalisation, energy envoy says

    "I think that not every road is a straight road and sometimes it goes in different directions first. But the goal is still the same," Hochstein said speaking on the sidelines of an industry event in the United Arab Emirates. "And we remain as committed to that goal of regional integration, and it's not just about Saudi Arabia and Israel, it has to be much broader than that."

  • Future for elite golf ‘murky’ with PGA Tour-Saudi alliance in limbo

    "There's a lot of moving parts on how we're going to play. Whether it's here on the PGA Tour or it's merging, or team golf. There's a lot of different aspects that are being thrown out there all at once." After a year of acrimony, the two parties and Europe-based DP World Tour announced in June a bombshell framework agreement to house their commercial operations in a new entity. PIF, the main financial backer of LIV Golf, would serve as the exclusive investor.

  • Saudi Arabia Says for First Time Some 2030 Projects Get Delayed

    Saudi Arabia has delayed past 2030 some of the projects launched as part of its economic transformation plan, in the first admission that the kingdom is having to shift the timeline for meeting the goals of the multi-trillion dollar program. The government, which is forecasting budget deficits every year out to 2026, has decided on the extension to build capacity and avert huge inflationary pressures and supply bottlenecks, Finance Minister Mohammed Al Jadaan said Thursday. He didn’t specify which projects would be affected.

  • Saudi Fighter Jet Training Crash Kills 2 Crew, Says Ministry

    A Saudi air force jet crashed on Thursday during a training exercise in the east of the country, killing its two crew members, the defence ministry said in a statement. The aircraft, part of the kingdom's fleet of F-15SAs, crashed "while it was carrying out a routine training mission at King Abdulaziz Air Base in Dhahran", said the statement attributed to defence ministry spokesman Brigadier General Turki al-Maliki, published by the official Saudi Press Agency (SPA). It comes five months after another F-15SA, a US-built multirole fighter aircraft, crashed in the training area of an air base in Khamis Mushait city in the south of the Gulf kingdom, an incident that also left two dead.

  • China deepens ties with Saudi Arabia at Hong Kong gathering

    China’s vice-premier He Lifeng told Hong Kong’s elite last month that he had “some suggestions” for the territory — a list that included building closer ties with the Middle East. Hong Kong should “further expand its circle of friends” by developing relationships in the region, he said. This week, it is taking an important step in its effort to do so. Saudi Arabia’s Future Investment Initiative Institute, which hosts the Gulf state’s so-called Davos in the Desert conference in Riyadh, opened its first Asia gathering in Hong Kong on Thursday.

  • Jon Rahm Is Set to Join Saudi-Backed LIV Golf

    Reigning Masters champion Jon Rahm is set to leave the PGA Tour for the Saudi-backed LIV Golf in an industry-rattling deal that stands to inject fresh uncertainty into the future of an already topsy-turvy sport. A deal for Rahm is expected to be announced this week, people familiar with the matter said, assuming talks don’t fall apart. The prospect of landing Rahm, a 29-year-old who’s ranked No. 3 in the world, is a stunning coup for LIV that comes at a jarring moment: the PGA Tour and Saudi Arabia’s Public Investment Fund are on the precipice of a Dec. 31 deadline to finalize a deal to join forces, an agreement between once-enemies that shocked the golf world but remains far from settled.