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  • Total US-Saudi Bilateral Trade Reaches Record-High $39 Billion in H1 2012
     

    Total bi-lateral trade between Saudi Arabia and the United States reached $39 billion in the first six months of 2012, a record high for any half to date.  Below are some key US-Saudi trade figures for the first half (H1) of 2012 provided to SUSTG by the Saudi Commercial Office at the Royal Embassy of […]

     
  • ‘A Disciplined Approach To Forward-Looking Policymaking’
     

    A recently released report by the Center for Strategic and International Studies on Saudi Arabia’s energy policy finds that the Kingdom is pursuing a “disciplined approach to forward-looking policymaking.” The report was published by Hisham Akhonbay, who is a visiting fellow with the Energy and National Security Program at CSIS from the King Abdullah Petroleum […]

     
  • Will Saudi Arabia become an oil importer by 2030?
     

    THIS was the question asked all of this past week all over the world. Thousands of stories were filed on the topic, following speculation by a Citigroup analyst that Saudi Arabia may start importing oil by 2030. According to that theory, by 2030, Saudi consumption of oil would outstrip production and we could be importing […]

     
  • Saudi Mortgage Law: Key Details Still to be Determined
     

    Saudi Arabia faces housing challenges caused by rapid population growth and an inflow of expatriate workers to the kingdom.

     
  • Property rents soar in Saudi Arabia, analyst report shows
     

    Residential property rents in Saudi Arabia’s main cities have increased by up to 15% in some locations in the first six months of the year. The latest analysis report from real estate consultants CBRE explains that an increasing population and a rapid rise in per capita GDP has led to soaring rents. There has been […]

     
  • Jadwa September 2012 Saudi Chartbook – Inflation
     

    Jadwa Investment’s recently released Saudi Charbook for the month of September 2012 found that the Saudi economic activity in July experienced a “modest slowdown of economic activity…with indicators of consumer spending and PMI slowing on the back of a seasonal trend.” However, Jadwa notes that the “healthy underlying economic momentum remains in place.” Below is a snapshot of […]

     
  • President Obama’s Envoy to Mecca Islamic Summit Shares Views
     

    A little known detail about last month’s Extraordinary Islamic Solidarity Summit in Mecca was the presence of an American diplomat representing President Barack Obama to the 56-member Organization of Islamic Cooperation (OIC). The special summit, which met on August 14-15, 2012, was called by King Abdullah to take up crises, conflicts and serious issues affecting […]

     
  • Saudi real estate market poised for new boom
     

    New programmes and the new mortgage system — approved by the cabinet in July and expected to take force in the next few weeks — will contribute to decreased land prices, realtors said. Land prices are expected to drop by 20%, especially in the central, eastern and western regions, according to realtors. Residential land prices […]

     
  • Jadwa September 2012 Chartbook – Construction Indicators
     

    Jadwa Investment’s recently released Saudi Charbook for the month of September 2012 found that the Saudi economic activity in July experienced a “modest slowdown of economic activity…with indicators of consumer spending and PMI slowing on the back of a seasonal trend.” However, Jadwa notes that the “healthy underlying economic momentum remains in place.” Below is a snapshot of […]

     
  • Mitt Romney on Foreign and Middle East Policy
     

    This [US election] year is different. There is relatively little attention to issues outside America’s borders – only four percent of Americans “consider foreign affairs much of an issue in this year’s campaign” according to Foreign Policy.com.  The sluggish economy – taxes, unemployment, deficits, thorny domestic issues and “personality” questions dominate the campaigns. With the […]

     

MUST-READS

  • Saudi Communications Ministry Unveils 2nd Phase of Source Tech Initiative to Boost Digital Economy

    The Saudi Ministry of Communications and Information Technology has announced the start of the second phase of the Source Tech initiative, which is part of efforts to boost the Saudi digital economy. This phase's launch follows the initiative's success in its first stage, which established more than 15 tech centers in six regions across Saudi Arabia. The initiative aims to maximize cooperation with the private sector to localize application and software development, outsourcing, and communication services within the Kingdom.

  • ROSHN Group, Saudi Aramco to Cooperate in the Construction of 47,000-capacity Stadium in Alkhobar

    A 47,000-capacity arena, to be called the Aramco Stadium, is to be built in Alkhobar in the Eastern Province following a cooperation agreement between ROSHN Group and Saudi Aramco. The stadium is expected to be fully operational by 2026, when it will be ready to host local and international events, including the Asian Cup which Saudi Arabia is scheduled to host in January 2027, the Saudi Press Agency reported on Wednesday.

  • Saudi Aramco explores global LNG opportunities: Nasser

    Saudi Aramco's President and CEO Amin Nasser said the company is working on a number of international investments and exploring global opportunities in the field of LNG. He added that the company has ambitious plans to develop its portfolio and expand its capabilities in this field. Nasser said in an investor call that the oil giant seeks to complete a strategic partnership in the field of LNG with MidOcean Energy during the third quarter of 2024.

  • Saudi Arabia: Insurance market posts 26% jump in net profit to US$586m in 1H2024

    The Top Three companies — BUPA, Tawuniya, and Al Rajhi — saw profit increases of 36%, 105%, and 47%, respectively, totalling SAR1.6bn.

  • Prince Mohammed bin Salman Royal Reserve’s Integrated Development Management Plan launched

    The plan is a comprehensive roadmap in line with global standards, covering the environmental, economic, social, tourism, and cultural aspects of the 24,500 square kilometer Reserve, which includes 15 distinct ecosystems, ranging from mountain ridges to coral reefs in the northwest of the Kingdom, the Saudi Press Agency reported.

  • Saudi Arabia’s Abutaleb’s KO dashes Israel’s Olympic taekwondo hope

    Taekwondo Olympic medalist Abishag Semberg was left in tears after her defeat to Saudi Arabia’s Dunya Abutaleb in the women’s flyweight round of 16 in Paris on Wednesday. Abutaleb, the first Saudi woman to secure direct Olympic qualification, triumphed with scores of 2-6, 5-4 and 10-0. She sealed her victory with two head kicks and two body kicks in the decisive third round.

  • Investor bids invited for six Saudi football teams

    Saudi Arabia this week opened bids for six football teams as part of its new drive to monetise the kingdom’s sport sector and raise its foreign direct investment numbers. Local and international investors are invited to bid for Al-Okhdood, Al-Orouba and Al-Kholoud – all in Saudi Arabia’s top Pro League – as well as Al-Zulfi, Al-Nahda and Al-Ansar. Applications are open until a deadline of September 19.  A negotiation process will then start with the best offers, the Saudi Press Agency (SPA) reported, citing the ministry of sport. A further eight teams will be put up for sale at a later stage.

  • Adidas launches its partnership with Al-Nasr Saudi Club with an advertisement inspired by the game (Roblox)

    Adidas launched today the new kits of the Saudi Al-Nasr Club, according to the partnership signed between the two parties last February, which will last for three years, to become the global company’s sportswear brand, the official partner of the club starting from the 2024/2025 season, as “Adidas” will provide all teams and employees under the umbrella of Al-Nasr with the official uniform.

  • Saudi Arabia says Hamas leader’s killing was ‘blatant violation’ of Iran’s sovereignty

    Saudi Arabia said on Wednesday the assassination of Hamas leader Ismail Haniyeh in Tehran was a "blatant violation" of Iran's sovereignty. The comment by the Saudi deputy foreign minister during an extraordinary meeting of members of the Organization of Islamic Cooperation (OIC) was the first by the kingdom, the region's major power alongside Iran, since the killing of the Palestinian Islamist leader in the Iranian capital on July 31.

  • Saudi Takes 2 Million Photos of Neom in ‘Ground X’ Project to Build Investor Trust

    Saudi Arabia wants investors to know its ambitious Neom development is on track. Its effort is called “Ground X” and is meant to show live feeds of construction sites, project deadlines, and a “progress library” for each zone of Neom, including Sindalah, The Line and Trojena. The Ground X website is not open to the public and Skift was not able to review it.  But a public version of the website does give some details: It says it has installed 452 time-lapse cameras, 63 live cameras and more than 300 drone locations across Neom, capturing two million photos and 70,000 videos.