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  • Saudi market opening to take ‘a while’ as conditions debated
     

    Saudi Arabia — the largest, most liquid and yet least accessible stock market in the Arab world — is considering opening its stock market to foreign investors in a move that could help turn the local market into a regional trading hub. But when the kingdom will make its final decision on this proposal, which […]

     
  • Jadwa Investment: Shifts in Foreign Investor Flows and the TASI
     

    A recently released Jadwa Investment report discusses shifts in foreign investment in the Saudi stock market, also known as the TASI. “Big changes in foreign investment in the Saudi stock market tend to come ahead of moves in the TASI, meaning that local investors can benefit from tracking what foreign investors are doing. In six of the seven […]

     
  • High capital/solid profitability: Saudi banking system remains stable
     

    The outlook for Saudi Arabia’s banking system remains stable, says Moody’s Investors Service in a new Banking System Outlook. The key drivers of the outlook are (1) a benign operating environment; (2) low problem loan levels; (3) strong loss-absorption capacity, underpinned by high capital buffers and solid profitability; and (4) the sector’s stable, low-cost deposit […]

     
  • Saudi eases access to long-hidden ancient ruins
     

    “Spectacular… wonderful… breathtaking,” she says. “But where are the tourists? If we had a site like this in my country, we would have millions of tourists!” Dating back to the second century BC, the Nabataean archaeological site, also known as Madain Saleh, has long been hidden from foreign visitors in this ultra-conservative kingdom that rarely […]

     
  • GE Sees Gas Turbine Sales Gain Amid Saudis’ Solar Shift
     

    General Electric Co. GE predicts demand for its gas turbines will increase in Saudi Arabia, even with the kingdom working to supply a third of power needs from solar energy within the next two decades. Saudi Arabia already has 500 installed gas turbines from GE that generate about half its electricity, and the Middle Eastern […]

     
  • Modernity and tradition: Khalid Habash’s stunning photos of Saudi
     

    It is no secret that Saudi Arabia’s economy and society are modernizing at a remarkable pace. Already the Arab world’s largest economy, the Kingdom also has one of the world’s highest GDP growth rates.  Government spending is expansive and investment in infrastructure, education and numerous other sectors are at all time highs.  Soon to be […]

     
  • Confronting Tremendous Challenges: Prince Turki al-Faisal
     

    I think Saudi Arabia over the past 80 years has been going through an Arab Spring. When you look at the Kingdom when I was born in it for example, 1945, there were no schools in Saudi Arabia. There were no roads. Disease and poverty were the rule rather than the exception. Since then, the […]

     
  • US Eximbank OKs record-breaking $5 bln loan for Saudi petchem complex
     

    In its largest job-supporting authorization to date, the board of the Export-Import Bank of the United States (Ex-Im Bank) has approved a $4.975 billion direct loan to Sadara Chemical Company for the export of American goods and services required in the construction of a petrochemical complex in Jubail Industrial City II in the Kingdom of […]

     
  • Saudi restoration commemorates pact of princes, clerics
     

    Climb the rickety ladder through the Emir Omar bin Saud Palace courtyard in crumbling Diriyah and the image of old Saudi Arabia suddenly appears in an adobe roofscape set against dark green palms. The caramel tones of the mud walls, the smell of dust mingling with water and the muffled clanging of hammer on stone […]

     
  • U.S. Approval Eroding in MENA Before Film Controversy
     

    Approval of U.S. leadership in the Middle East and North Africa (MENA) region was already slipping before the recent wave of anti-U.S. protests across the region. An average of 20% of adults across 12 MENA countries Gallup surveyed between January and May 2012 approved of the job performance of the leadership of the U.S. This […]

     

MUST-READS

  • Saudi Arabia salary guide 2024: How much should you be earning?

    Salaries in Saudi Arabia are expected to rise by an average of 6 per cent in 2024, as demand for talent continues to surge amid the kingdom's efforts to diversify its economy away from hydrocarbons under its Vision 2030 plan, according to recruitment specialist Cooper Fitch. Development remains a major focus in the Arab world’s largest economy, with progress being made across the country’s megaprojects, including the $500 billion city Neom, Red Sea Project and AlUla, Cooper Fitch says in its 2024 Saudi Arabia salary guide. Over the past year, the kingdom has created 1.12 million jobs in the private sector as part of its plan to develop more than $1 trillion worth of projects, the Ministry of Finance said in its 2024 budget statement.

  • Faisal Shaker and MFC named best F&B Entrepreneur and Company in Saudi Arabia

    Clinching F&B Entrepreneur and F&B Company of the Year awards at Caterer Saudi Awards 2024 was entrepreneur, restaurateur, co-founder and CEO of MFC, Faisal Shaker. He and his firm took home two of the biggest awards from night, as well as Breakthrough Restaurant of the Year for Robata and Saudi F&B Brand for the Year for Myazu.

  • Saudi Commerce Ministry extends online services to help foreign firms set up regional headquarters in KSA

    Saudi Arabia's Ministry of Commerce has announced the provision of online services for foreign companies looking to establish regional headquarters in the country after securing a license from the Ministry of Investment. These services encompass issuing regional headquarters as a branch or as a new foreign company, in addition to issuing, amending, and renewing commercial registers, and reserving commercial names. These electronic services are accessible through the ministry's digital platform at e.mc.gov.sa and the Saudi Business Center's platform at business.sa.

  • 6 Saudi players fined for refusing to join national team

    The Saudi Football Federation's Professionalism and Players' Status Committee announced a 5-month suspension and a financial fine for Al Nassr goalkeeper Nawaf Al-Aqidi due to events preceding his exclusion from the team's lineup for the Asian Cup. The committee's statement, which resonated strongly within the Saudi sports community, declared Al-Aqidi's suspension for 5 months with a fine of SR300,000. This was after he requested Mancini to postpone the team's camp in Qatar for personal reasons or to grant him special leave. He also informed the goalkeeping coach of his feeling that he would be the third-choice goalkeeper, a situation he was not willing to accept.

  • Aramco intends to disclose 2023 financials, dividends on March 10

    Saudi Arabian Oil Co. (Saudi Aramco) will announce financial results and dividend plan for 2023 before the start of trading on March 10, the oil giant said in a statement. The annual financial statements will be published on March 11. Aramco will also discuss its full-year results in an audio webcast at 3:30 pm Riyadh time on the same day. Saudi Aramco posted a 26% fall in net profit, after minority interest, to SAR 349.89 billion in the first nine months of 2023, compared to SAR 471.88 billion a year earlier, Argaam reported earlier.

  • Saudi Arabia: An Investment Destination with Growth Potential

    Foreign direct investment in Saudi Arabia reached 8.1 billion Saudi Riyals in the first quarter of 2023, marking a significant increase from the previous year. These investments are expected to contribute to the localization of 57% of the local market, create 2.1 million jobs, and boost non-oil exports to SAR 580 billion by 2030.

  • Kushner calls Saudi Crown Prince “visionary leader” who has made the world better

    Jared Kushner called Saudi Crown Prince Mohammed bin Salman a "visionary leader" in an interview at the Axios BFD conference in Miami on Tuesday. Why it matters: Kushner was criticized for standing by MBS in the aftermath of Jamal Khashoggi's murder as a senior U.S. official and, more recently, for courting Saudi investments after leaving the White House. What he's saying: After some initial exasperation at being asked about Khashoggi's murder — "are we really still doing this?" — Kushner told Axios' Dan Primack that he had not seen the U.S. intelligence assessment that the crown prince ordered the assassination of the Washington Post columnist.

  • Fundamental shift in energy consumption by 2025: Saudi Aramco CEO

    Energy consumption in 2025 will change completely, driven by the interplay of supply and demand, Amin Nasser, CEO of Saudi Arabian Oil Co. (Saudi Aramco), said during the International Petroleum Technology Conference (IPTC). Saudi Aramco is actively delivering on its commitment to energy provision and is poised to enhance both production capacity and daily output, Nasser added. The company is exploring opportunities to secure additional resources and attract investors across various energy sectors, including hydrogen, oil, and gas, in alignment with its primary goal of sustaining growth in gas, oil, and other energy domains.

  • Visualizing the Rise of the U.S. as Top Crude Oil Producer

    Over the last three decades, the United States, Saudi Arabia, and Russia have alternated as the top crude producers, but always by small margins. During the 1990s, Saudi Arabia dominated crude production, taking advantage of its extensive oil reserves. The petroleum sector accounts for roughly 42% of the country’s GDP, 87% of its budget revenues, and 90% of export earnings. However, during the 2000s, Russia surpassed Saudi Arabia in production during some years, following strategic investments in expanding its oil infrastructure. The majority of Russia’s oil goes to OECD Europe (60%), with around 20% going to China.

  • Visualizing the Rise of the U.S. as Top Crude Oil Producer

    Over the last three decades, the United States, Saudi Arabia, and Russia have alternated as the top crude producers, but always by small margins. During the 1990s, Saudi Arabia dominated crude production, taking advantage of its extensive oil reserves. The petroleum sector accounts for roughly 42% of the country’s GDP, 87% of its budget revenues, and 90% of export earnings. However, during the 2000s, Russia surpassed Saudi Arabia in production during some years, following strategic investments in expanding its oil infrastructure. The majority of Russia’s oil goes to OECD Europe (60%), with around 20% going to China.