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  • In Major Shift, Saudi Aramco Dabbles in Oil Trading
     

    Saudi Arabia has long been a dominant force in global oil markets, “but has never been an oil trader.” That changed on January 1st, 2012, when Saudi Aramco began operations at Aramco Trading, a wholly owned company subsidiary. The new Aramco Trading marks an expansion in Aramco’s downstream investment portfolio in the Kingdom and overseas, […]

     
  • Riyadh among lowest risk cities in Mideast
     

    Riyadh is among the lowest risk cities in the region, with a rating that puts it ahead of international business hubs such as Milan, Lisbon, Istanbul and Moscow, according to the findings from the 2012 People Risk Index, created by Aon Hewitt, the global human resources business of Aon plc. The Aon Hewitt 2012 People […]

     
  • Jadwa Chartbook June 2012: Trade
     

    Riyadh-based Jadwa Investments recently released its June, 2012 Saudi ‘Chartbook’ which includes updates on the Saudi economy, trade, oil metrics as well as assessments of various sectors including banking. Below is a snapshot of Jadwa’s analysis of Saudi imports and exports and letters of credit. 

     
  • The Middle East fights the Flame, but virus spreads anyway
     

    Two years ago there was Stuxnet, a virus that targeted Iranian uranium-enrichment infrastructure. Now Flame, a mutating piece of malware, is continuing to spread, infecting more than 1,000 Windows-powered computers across the Middle East. It’s centered on Iran, but has also spread to Israel and Palestine, Saudi Arabia, Syria, and even Sudan. Flame is a huge virus — 20 megabytes […]

     
  • Wider world opened to Saudis studying abroad
     

    Wearing the black face-covering veil favoured by Saudi women, Maha Mazyad looked through leaflets for prospective jobs with some of the Islamic kingdom’s largest companies at a recent career fair in Riyadh. A few years ago she would have worried about the disapproving reaction of friends and parents to the notion of a young woman […]

     
  • Jadwa Chartbook June 2012: Banking
     

    Riyadh-based Jadwa Investments recently released its June, 2012 Saudi chartbook which includes updates on the Saudi economy, trade, oil metrics as well as assessments of various sectors including banking. Below is a snapshot of Jadwa’s banking sector analysis.

     
  • Saudi Construction Sector: A Sleeping Giant Awakes
     

    Deloitte’s recently released report, “GCC powers of construction 2012: Five lessons to learn” assesses the current prospects of Saudi Arabia’s construction sector.  Deloitte paints a very optimistic picture noting Saudi Arabia’s leading position in the GCC with regard to population and GDP.  It also highlights the ambitious spending plans established in the latest 5-year development plan announced in […]

     
  • Saudi, Kuwait, UAE lead Q1 GCC corporate earnings growth
     

    Earnings of Saudi Arabian companies totalled $6.7 billion, an increase of 15 per cent YoY and 28 per cent QoQ. SABIC, which reported $1.9 billion in Q1 profits, saw its bottom-line decline by five per cent YoY due to softening of global petrochemical prices when compared to Q1 2011. Saudi Banks continued its stable growth […]

     
  • Key to the kingdom
     

    2012 is likely to be the tipping point for the Gulf’s most ambitious real estate project. If the good results continue, and companies carry on signing up to take advantage of the transport infrastructure coming online in 2013, then KAEC looks set to snowball. But when will the city be fully completed? “Our target is […]

     
  • Oil Prices Fall Below Break-Even for Several Nations
     

    Citibank expects that Russia will have a very turbulent next five years, given their estimate that Brent crude prices will likely settle close to $85 over that time period. Oil producers are beginning to feel the future threat of peak demand for oil caused by multiple factors — including unconventional liquid fuels — breathing down […]

     

MUST-READS

  • Ancient Fortified Oasis Discovered in Saudi Arabia

    A fortification that surrounded the Khaybar Oasis some 4,000 years ago has been found in the North Arabian Desert by researchers from the French National Center for Scientific Research and Saudi Arabia’s Royal Commission for Al-‘Ula, according to a Cosmos Magazine report. The nine miles of walls, which were between five and eight feet thick, enclosed more than 2,700 acres.

  • Saudi Arabia says concerned about airstrikes in Yemen, calls for restraint

    Saudi Arabia said early Friday that it was following with “great concern” the military operations taking place in the Red Sea region and the airstrikes on several sites in Yemen.

    “While the Kingdom stresses the importance of preserving the security and stability of the Red Sea region, in which freedom of navigation is an international demand [and of] interest of the entire world, [Saudi Arabia] calls for restraint and avoiding escalation in light of the events the region is witnessing,” a statement carried by the Saudi Press Agency read.

  • Saudi Arabia accelerates diversification into lithium and gold sectors

    With the global petroleum industry under pressure in the call for a reduction in carbon dioxide numbers, Saudi Arabia has significantly increased its investment in the hunt for what many see as oil’s leading fuel replacement, lithium.

  • Saudi Arabia gives Assad regime control over Hajj file, removing it from Syria opposition

    The decision by Saudi Arabia to hand over the authority to the Syrian regime comes over a decade after the Kingdom gave the responsibility to the Syrian opposition’s Supreme Hajj Committee in May 2013, following the closure of the Saudi embassy in Damascus and the withdrawal of Saudi diplomats in response to the Assad regime’s brutal crackdown on peaceful protests and the outbreak of the ongoing Syrian civil war.

  • Saudi Arabia fast tracks efforts to become leader of minerals ‘super region’

    Making the metals and mining sector the third pillar of its economy, Saudi Arabia is taking a holistic approach to invest in the sector inside and outside the country. From unveiling $182 million in exploration incentives and 33 new mining licenses this year, to setting up Manara Minerals in 2023 and making a major deal in taking a 10% stake in Vale Base Metals only a few months later, Saudi Arabia is making sure that the country is seen as determined in its efforts to become the leader of the "super region", which has become the new buzzword, comprising Africa, the Middle East, Central Asia and South Asia.

  • Futuristic ‘upside-down skyscraper’ proposed in Saudi Arabia

    Developers in Saudi Arabia announced plans Wednesday for an “ultra-luxury upside-down skyscraper” wedged into the mountainside on the Gulf of Aqaba coastline that looks straight out of a science fiction movie. The project, Aquellum, is billed as an underground city and tourist destination that “will offer guests a taste of futuristic living through its array of pioneering experiences,” according to NEOM, the same developers who proposed building a city within a 75-mile building.

  • Saudi Arabia wants to be the Saudi Arabia of minerals

    In wa’ad al-shamal, 1,200km north of Riyadh, the Saudi capital, phosphate is extracted and bathed in chemicals to turn it into an acid. From there it is shipped 1,500km east by rail to the port of Ras Al-Khair. The stuff is then made into fertiliser or its precursor, ammonia, and sails west to Brazil, south to Africa and east to India and Bangladesh, where it ends up with farmers who, according to Ma’aden, the state mining firm which runs the project, grow 10% of the world’s food. The venture is vast. Its sales and domestic investment are equivalent to about 2% of the kingdom’s non-oil gdp. Another similar one will soon start shipping the equivalent of another 1%.

  • Saudi Arabia: A ‘hidden paradise’ for Chinese luxury travelers

    Saudi Arabia is implementing a comprehensive initiative aimed at promoting its diverse landscapes and cultural heritage on a global scale. With a substantial financial commitment of $800 billion, the country seeks to unveil the untapped beauty of its natural assets. As part of its strategic approach, Saudi Arabia plans to allocate $500 billion towards amplifying the visibility of its tourism offerings in emerging markets, with a strong focus on China. Recognizing the nation's flourishing economy and its increasing demand for exclusive travel experiences, the Saudi Tourism Authority views China as a pivotal opportunity for establishing Saudi Arabia as a premier luxury travel destination.

  • Real Madrid Star Will Receive $330 Million Offer From Saudi Arabia

    A Real Madrid veteran will receive a monstrous offer from Saudi Arabia this summer according to AS, which could be equal to or more than the $330 million proposal he reportedly knocked back in 2023. Given his treatment in the Middle Eastern kingdom this week, we can probably deduce that the player in question is not Toni Kroos.

  • Hunt for Critical Minerals Draws World Powers to Saudi Arabia

    Saudi Arabia—The U.S., China and Russia are racing to secure critical metals needed to power the energy transition away from fossil fuels. Their latest battleground: oil-rich Saudi Arabia. Government officials and top mining executives descended on Riyadh this week to tap in to the gusher of cash the Saudis are pouring into mining investments. The kingdom is positioning itself at the center of a “super region” extending from Central Asia to the Middle East and Africa, which it says holds at least a third of the world’s natural resources, including critical minerals. Robust attendance at a mining conference held in the Saudi capital this week wasn’t solely about sealing financial deals, with foreign governments also eager to cement broader diplomatic relationships with the kingdom.