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  • Moving forward with nationalisation in Saudi Arabia
     

    “Nitaqat represents an effort to introduce more incentives for companies to employ Saudis and in that sense it is an improvement on what went before,” says James Reeve, an economist at the local Samba Financial Group. “The reason you are hearing more complaints is probably because the system is being enforced with greater vigour.” Despite […]

     
  • Saudi public sector’s bank credit rebounds
     

    Bank lending in Saudi Arabia is continuing at a generally brisk pace, the National Commercial Bank said in its “GCC Financial Market Quarterly” released Monday.The report said liquidity conditions supporting this credit expansion remain very benign. However, the growing economic confidence has begun to hit deposit growth somewhat and the annual pace of expansion decelerated […]

     
  • Jadwa Investment’s Saud June 2012 Inflation Report
     

    Jadwa Investment’s recently released June inflation report found year-on-year inflation for Saudi Arabia eased again in June, slipping to 4.9 percent from 5.1 percent in May, the first time it has been below 5 percent since August 2011. The Riyadh-based investment firm also found lower rental inflation caused most of the fall. Jadwa’s report is […]

     
  • Saudi Arabia Ghazal Defies Camels as SUV for Desert Market
     

    Saudi Arabia is venturing into a territory normally reserved for automakers. The kingdom is developing the Ghazal, a sport-utility vehicle for the hazards of the desert, to diversify its economy beyond oil. The SUV, built by King Saud University in Riyadh, is an all-wheel drive vehicle with a rugged carbon-fiber frame aimed at taking on […]

     
  • Sarah Attar Is a Saudi Trailblazer, By Way of the U.S.
     

    One of the first women to compete for Saudi Arabia at the Olympics was born and raised in California. The athletes are Wodjan Ali Seraj Abdulrahim Shahrkhani, who competes in judo, and Sarah Attar, a 19-year-old junior at Pepperdine University and a graduate of Escondido High School in California. Attar, who trains in San Diego, […]

     
  • Living Social
     

    In their pursuit to be where the young consum­ers are, brands have long identified social media as a crucial place to establish a presence. Where else will you find huge numbers of youngsters highly active and engaged? Results from market research company TNS indicate that 68 percent of MENA youth spend 12 hours per  week […]

     
  • Saudi Arabia to Send Olympic Women Athletes for First Time
     

    Saudi Arabia will send female athletes to the Olympic Games for the first time, the International Olympic Committee said, ending a ban by the kingdom where women aren’t allowed to drive. Wodjan Ali Seraj Abdulrahim Shahrkhani will compete in judo at the London Games and Sarah Attar will run the 800 meters. The athletes, who […]

     
  • Saudi Arabia Weighs Annual Budget to Boost Clean Energy
     

    An annual budget for renewables would differ from the feed- in tariffs that Germany, Spain, Italy, France and Britain offered to spur solar and wind power in their nations. Germany was first to introduce the feed-in tariff in 2004 and became the world’s biggest market for solar because of the subsidy, which is paid for […]

     
  • Showing Pragmatism, Egypt’s Morsi Looks to Saudi
     

    The first official foreign visit of any newly elected president represents a significant symbolic statement. Knowing this, new leaders choose their first visit very carefully, often selecting a country that is either a major strategic ally or an important trade partner. Nonetheless, the Egyptian government’s announcement that President Mohammed Morsi’s first foreign visit will take […]

     
  • Underground in Arabia
     

    Born and raised in Dhahran, I thought I had seen most of the natural wonders of the Eastern kingdom from the towering dunes of the Rub’ Al Khali to the pristine reefs of the Gulf, so it was a true surprise to read the manuscript for John Pint’s Underground in Arabia. I had visited the […]

     

MUST-READS

  • Commentary: Is Saudi-Israeli Normalization on the Horizon or Merely Speculative Media Hype?

    “If you read the Jeddah communique and saw the space, the number of words and the placement of ‘Palestine’ and ‘Jerusalem’ in that statement issued in Saudi, what the Saudis are suggesting and what they want, then the claims of near normalization are generally untrue,” he told The Media Line. “Maybe there are attempts, but there is clearly no way that the Saudis—who came up with the Arab peace plan which was again reiterated in Jeddah and which calls for no normalization without withdrawal—you would realize that Saudis would not have reiterated support for it if they had any plans to violate it.”

  • Saudi’s PIF founds Saudi-Iraqi investment company with $3 bln capital

    Saudi Arabia’s Public Investment Fund has founded a Saudi-Iraqi investment company with $3 billion capital, Reuters reported on Thursday, citing the company’s acting CEO. The Saudi-Iraqi Investment Company will invest in areas including infrastructure, mining, agriculture, real estate development and financial services, CEO Muteb Alshathri said during the Saudi-Iraqi Coordination Council held in the Kingdom.

  • Introducing The Fintech Times Middle East and Africa 2023 Report

    The Fintech Times has launched its third annual report into the fintech landscape in the Middle East and Africa (MEA) region. It begins with a macro-level overview and then delves into specific aspects of the industry to offer a comprehensive picture of the fintech ecosystem in the area.

  • Qatar Says Investments in Egypt Are Coming, But No More Deposits

    Qatar said it’s committed to following through on the billions of dollars in investments pledged to cash-strapped Egypt, though stopped short of giving any timing while indicating the days of handouts are over. The gas-rich country pledged $5 billion to the North African nation in March last year, and “we are committed to that,” Finance Minister Ali Al-Kuwari told Bloomberg TV at the Qatar Economic Forum on Wednesday.

  • The Saudi Center for Commercial Arbitration Publishes the Second Edition of its Rules

    The Saudi Center for Commercial Arbitration (SCCA) has published the second edition of its arbitration rules, which came into effect on May 1, 2023 and applies to all arbitrations commenced on or after that date. As compared to the 2018 rules, these amendments are aimed at making the SCCA more attractive to a variety of business sectors. The new rules are the fruit of two years of consultation with industry experts, all in an effort to meet the highest standards in international arbitration. Some of the noteworthy amendments include the establishment of the SCCA Court, the removal of references to Sharia law, and new regulations regarding consolidation, cybersecurity, joinder, and emergency protective measures.

  • Saudi Arabia’s Wild Megaprojects Explained

    In essence it’s a strategy of “build it and they will come” – but build it big and with lots and lots of cash. In short, Saudi Arabia wants to do Dubai on a scale that even Dubai couldn’t dream of.

  • The Promise of Tracking Renewable Energy Development

    International renewable energy certificates are typically used to track and verify compliance with renewable energy targets or mandates, such as those set by governments or the private sector. They include information about the type, source, and location of renewable energy generation as well as the date and time of delivery. For example, a wind farm that generates 1 megawatt hour of electricity can receive one international renewable energy certificate, which can then be sold to a buyer, who can in turn prove that renewable energy has been used in manufacturing a product or for any other purpose.

  • Surging Investments: Indian buyers propel Dubai’s real estate sector

    Dubai’s construction industry is witnessing a significant increase in investments from India, driven by imminent tax adjustments set to be implemented on July 1. According to insiders in the sector, Indian investors contributed to 20% of all property transactions in Dubai during the first quarter of 2023, injecting close to $2 billion into the market.

  • Saudi Arabia executes three men in eastern region

    The interior ministry released a statement on Monday confirming that Saudi nationals Hassan bin Issa al-Muhanna, Haidar bin Hassan Muwais and Mohammed bin Ibrahim Muwais had been put to death. They were alleged to have joined a camp outside the country "in service of... terrorist organisations against the kingdom", possessed and been trained in the use of weapons and bombs, stored arms with the intent of "violating internal security", and smuggled wanted individuals outside the country.

  • Commentary: Saudi’s MBS Plays Diplomatic Balancing Act, But Can He Pull It Off?

    While the Saudi media describe his behavior as the creation of a new Arab order, MBS the flag bearer of the beginning of a new chapter in the region and the man to see an end to its conflicts, others see his position between democracies and dictatorships as a major gamble.