MUST-READS

• Luxury Items
  Saudis spend SR5.4 billion on perfumes

  The value of consumption of perfumes in the Gulf region throughout the year exceeded SR12 billion, with the Saudi market accounting for more than half — SR5.4 billion — throughout the year. In total, people in the Gulf region spend around SR45 billion on cosmetics, perfumes, oud and bukhoor, Makkah newspaper reported.

• Reserves
  Saudi oil reserves to rise to 273 billion bbls by 2017

  Business Monitor International has released a new report, ‘Saudi Arabia Oil & Gas Report Q3 2014’, in which it indicates the view that crude production in the country will remain elevated by historical standards in 2014 and 2014.

• Tadawul Opening
  Saudi Stock Market Foreign Opening: A Conversation with John Sfakianakis

  Last week the Saudi Capital Markets Authority announced the stock market, the Tadawul All Shares Index TASI, with a $530 billion capitalization, will open to foreign investment in less than 12 months. The announcement last week came as the Saudi economy continues to demonstrate strong performance with a recent IMF assessment noting it was one of the “best performing G-20 economies.”

• Tadawul Opening
  Why Saudi Arabia Is Big News That May Not Affect You

  Investors would have to apply for licenses with the qualifications including $5 billion assets under management globally, with each license holder only able to purchase 5% of a company, and only 20% total foreign ownership of a company.

  • Arab News - Foreign buying in Saudi stocks jumps
  • Think Advisor - Opening of Saudi Bourse Increases Investment Appeal
• Religious Freedom
  U.S. Religious-Freedom Report Criticizes Russia, Saudis

  The Russian government used laws banning “extremism” to restrict religious freedoms, according to the U.S. State Department’s International Religious Freedom Report for 2013. The annual report, mandated by a law that lets the U.S. sanction governments that engage in “particularly severe” violations of religious freedom, said the year saw the “largest displacement of religious communities in recent memory.”

• Weather
  Temperature Trend on Makkah, Saudi Arabia

  The main objective of this study is to investigate temperature trend and distribution over 29 years period (1985 to 2013) in Makkah, Saudi Arabia, the holiest city for all Muslims.

• David Hearst
  The Weak Argument for a Saudi-Israeli Bedfellowship

  How does Hearst come to this conclusion? First, he mentions an interview on Israeli television, in which former defense minister Shaul Mofaz explains that, after its offensive on Gaza, Israel expects Saudi Arabia and the United Arab Emirates to play a role in the demilitarization of Hamas and the rebuilding of the strip. Second, he quotes Amos Gilad referring to an underground "security cooperation with Egypt and the Gulf States."

• Takaful
  Value of Saudi Arabia’s Islamic banking assets reaches $285bn

  The Dubai Chamber of Commerce and Industry based on a recent study by Ernst and Young stated that global Islamic banking assets have registered cumulative annual growth rate of about 16 percent during 2008-2012, reflecting the radical shift from conventional financial system in favour of Islamic finance.

• Energy
  Deep-Water Knowledge Will Be Key to Saudi Aramco’s Red Sea Play

  The fast tracking of the Kingdom of Saudi Arabia’s (KSA) first major offshore natural gas fields in the Red Sea heralds the start of a massive new energy programme for the Kingdom, which will ultimately create new commercial opportunities for service companies with deep-water experience.

• Labor
  Number of Saudi women employed in private sector doubles

  The number of Saudi women employed in the private sector almost doubled in one year to reach 400,000 last year, an official report has indicated. The meteoric rise from 48,406 women in 2009 to 100,000 in 2011 and 200,000 in 2012 is a clear indication of the success of the ambitious drive by the authorities to find employment opportunities for women in the conservative society that has strongly resisted allowing women to take up jobs in the private sector.

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