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  • 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 […]

     
  • Saudi Arabia, UAE set for clean energy revolutions
     

    Despite their vast oil reserves, Saudi Arabia and the UAE are poised for “green revolutions” set to transform the Gulf’s energy landscape. The two states have made major strides recently in using clean renewable energies. In the middle of oil-rich Abu Dhabi, a sandy stretch near the emirate’s airport is a field of solar panels […]

     
  • Jadwa Investment – December 2012 Saudi Chartbook
     

    Jadwa Investment’s Saudi Chartbook for the month of December 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 more. A summary of the report is provided for your consideration below, and the […]

     
  • AME Info’s series on doing business in Saudi Arabia: a guide to the guide
     

    AMEinfo, based in Dubai’s Media City, is a well-known provider of business news and information covering the Gulf and larger Middle East.  Founded in 1993 it was acquired by London-based Emap Communications in July 2006.  Emap also owns MEED. The AME info site now claims over two million readers monthly.

     

MUST-READS

  • 5 World’s Most Beautiful Mosques; Mecca’s Masjid Al Haram Takes Lead

    As reported by Best Diplomat, here is a list of the top 5 world’s most beautiful mosques. One of them is the Grand Mosque in Mecca or Masjid Al Haram, which holds a special place in the hearts of Muslims around the globe. All sites of great significance in Islamic tradition, including the Zamzam Well, the Tomb of Ibrahim, and the hills of Safa and Marwa, are located within the mosque’s complex. The Grand Mosque, which can hold more than four million worshipers, is evidence of Islam's influence around the world.

  • Saudi Arabia’s NWC starts implementing water and wastewater infrastructure projects worth $586 m

    Saudi Arabia’s National Water Company (NWC), through its Eastern Cluster, has initiated the implementation of 17 major projects across the Eastern Province of Saudi Arabia, with a total investment exceeding 2.2 billion Saudi Riyals ($586 million). In a press release, the company explains that the projects aim to enhance the region's environmental and water services infrastructure, focusing on wastewater treatment plants, pumping stations, power lines, and network replacements to improve service delivery in various cities and governorates.

  • Hamas to stay out of Gaza truce talks, Iran considers Israel attack

    The Palestinian Islamist group Hamas said on Wednesday it would not take part in a new round of Gaza ceasefire talks slated for Thursday in Qatar, dimming hopes for a negotiated truce that Iranian sources say could hold back an Iranian attack on Israel. The U.S. has said it expects indirect talks to go ahead as planned in Qatar's capital Doha on Thursday, and that a ceasefire agreement was still possible. However Axios reported that U.S. Secretary of State Antony Blinken has postponed a trip to the Middle East that had been expected to begin on Tuesday.

  • United Airlines is halting flights to Israel as the threat of war with Iran looms

    Middle East tensions have once again interrupted a key service route for United Airlines. Analysts at Deutsche Bank noted in a recent research note that the carrier has cancelled all service between the United States and Tel Aviv, as conflict between Israel and Iran threatens to escalate to all-out war.

  • Saudi Arabia warns against ongoing violations of Jerusalem’s historical status

    In a statement the Saudi Ministry of Foreign Affairs expressed its strong condemnation of the repeated and provocative incursions by Israeli occupation officials and numerous settlers into the Muslim holy site. “The ministry emphasises the importance of respecting religious sanctities and reiterates the kingdom’s warning of the consequences of continuing these violations of international law and the historical status of Jerusalem. These actions provoke millions of Muslims around the world, particularly in light of the ongoing humanitarian catastrophe faced by the Palestinian people,” the statement said.

  • Saudi Arabia extends waiver on expat fees for industrial sector employees

    The minister said the waiver has been instrumental in transforming the industrial landscape of Saudi Arabia. Since its inception, the number of industrial establishments has surged from 8,822 to 11,868 by April 2024. This substantial increase reflects the sector’s expansion and the positive impact of the government’s financial incentives, he added.

  • Saudi Aramco and Kaust to invest $100m in R&D

    Saudi Aramco, the world’s largest oil producer, and King Abdullah University of Science and Technology (Kaust) are to invest $100 million in research and development projects. The 10-year investment will support projects focused on energy transition, sustainability, materials innovation, upstream technologies and digital solutions, aiming for both environmental and commercial benefits.

  • AP Race Launch Swimming Academy In Saudi Arabia

    AP Race, a brand co-founded and built by three-time Olympic champion Adam Peaty that includes clinics and events, has launched a swimming academy in Saudi Arabia. Peaty and Ed Baxter founded the AP brand which has been delivering race clinics since 2019 and for the last two years have staged the AP Race London International at the Aquatics Centre, a three-day meet which features international and domestic swimmers through to grassroots initiatives.

  • Saudi Wealth Fund Pumps More Cash Into Two Struggling Startups

    In most cases, these projects have been key to the oil-rich region’s diversification push, meaning the sovereign wealth funds might not be solely focused on the dollars-and-cents aspect of their return on investment. But even on that front, some investors have started to focus on ensuring they’re not throwing good money after bad.

  • Saudi Arabia boosts FDI landscape with new investment law updates

    Saudi Arabia’s Council of Ministers has recently approved the updated investment law, building on previous reforms under Vision 2030 and the National Investment Strategy. The Kingdom’s latest investment law updates bring together several existing freedoms and rights and apply them to investors under one unified framework, ensuring greater transparency, flexibility, and confidence for investors.