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  • 7 Major Changes to the Kingdom of Saudi Arabia that Happened This Weekend and What They Mean
     

    Over the weekend, Saudi Arabia’s King Salman announced a series of major changes to key leadership positions, a new “national security center” for Saudi Arabia that is affiliated with the Royal Court, and more. Here’s what is different now for Saudi Arabia and what those changes mean for the Kingdom, U.S.-Saudi relations and Saudi Arabia’s […]

     
  • In First, Full Japanese Orchestra Performs in Riyadh
     

    For the first time, a Japanese orchestra has played a live performance in Saudi Arabia’s capital, the latest step forward for Saudi culture and prospects for greater entertainment options for Saudi citizens. Minister of Culture and Information Adel Al-Toraifi opened the first Japanese full orchestra concert in Saudi Arabia on Thursday night at King Fahad […]

     
  • Tadawul Announces Update on Progress To Reforms
     

    Saudi Arabia’s stock exchange, the Tadawul, today provided in a press release “an update of its progress across a range of far-reaching capital market reforms to enhance efficiency, corporate governance, and transparency.” The reforms are part of the Exchange’s efforts to further align Saudi capital market with international standards and make it more attractive to […]

     
  • New Accounting Standards Cost Saudi $1.3b, but Feared Accountant Shortage Avoided
     

    Writing in Forbes, contributor Dominic Dudley notes that Saudi Arabia’s January 2017 switch to new accounting standards did not cause chaos in the Kingdom’s affected listed companies as feared, but it did cost some companies a pretty penny. Saudi Arabia’s switch from accountancy standards set by the Saudi Organization for Certified Public Accountants (SOCPA) to International Financial Reporting […]

     
  • Saudi Economic Data for February Paints Another ‘Mixed Picture’
     

    Saudi Arabia’s economic data for the month of February 2017 showed a mixed picture for the Kingdom, with foreign reserves falling to $514 billion in February, the lowest since August 2011. The latest Jadwa Investment monthly chartbook for February finds cash withdrawals from ATMs and POS transactions showed a downward trend, but non-oil PMI was […]

     
  • U.S. Military Footprint Growing in the Middle East
     

    Two months after the inauguration of President Trump, indications are mounting that the United States military is deepening its involvement in a string of complex conflicts in the Middle East – including in Yemen – that lack clear endgames, the New York Times reports in a detailed look at U.S. escalation in regional conflicts. According […]

     
  • The U.S. is ‘Significantly Increasing’ Support for the Saudi-led Coalition in Yemen as Conflict Enters Third Year
     

    The Trump administration has “significantly increased” military support for the Saudi-led coalition fighting al Qaeda and Iranian-backed militias in Yemen, the Wall Street Journal reports. The increase in support by the Trump administration raises the stakes for the United States in the war in Yemen, now entering its third year. It also continues a warming trend in […]

     
  • U.S. Federal Judge Urges Consolidation of 9/11 Lawsuits Against Saudi Arabia
     

    A U.S. Federal Judge hoped to see consolidation among lawsuits filed by victims of the 9/11 terrorist attacks against Saudi Arabia that “largely allege the same facts” as the fallout from the Justice Against Sponsors of Terrorism Act (JASTA) continues. According to the Associated Press, Magistrate Sarah Netburn presided over a hearing that brought together dozens […]

     
  • Saudi Shoura Council Takes Aim at Much Maligned Saudi Airports, Demands Vision for Change
     

    The Shoura Council asked the General Authority for Civil Aviation (GACA) Wednesday to establish a strategic vision to make Saudi airports among top ranked globally, achieve competitiveness, ensure safety and serve customers in the best manner, according to reports. Saudis are often embarrassed of their outdated and poorly operated airports and look enviously at other […]

     
  • Seven Important Takeaways from Saudi Deputy Crown Prince Mohammed bin Salman’s Lunch Meeting with President Trump
     

    A “senior advisor to Deputy Crown Prince Mohammed bin Salman” released an enthusiastic statement following yesterday’s meeting between the Prince and President Trump, calling the meeting a “huge success.” Observers of the U.S.-Saudi relationship will read the full text of the statement closely. It provides some insight into the thinking of Saudi leaders on the […]

     

MUST-READS

  • Chinese, Saudi experts exchange views on 30 years of ties

    On the eve of the 30th anniversary of the establishment of China-Saudi Arabia diplomatic relations, officials and scholars from China and Saudi Arabia highlighted the deep-rooted bilateral ties during a seminar.

  • VAT hike will change Saudi spending habits, say citizens, traders

    “My friends and I will have to start thinking twice about every outing. We will start thinking about quality now; will the place we are going to provide us with a good experience from the moment we step foot in, or not? Every riyal is valuable now.

  • Pakistan Stock Exchange: Multiple people dead after gunmen storm PSX in Karachi

    At least five people have died after shots were fired at the Pakistan Stock Exchange in Karachi, according to rescue officials on Monday. Policemen and security officials are among those confirmed dead, according to Mohammad Azeem, an official with the Edhi rescue center, a prominent local charity service.

  • Gunmen attack Pakistani stock exchange, seven killed – police

    Separatist insurgents from Balochistan province - the Baloch Liberation Army (BLA) - claimed responsibility in a post on Twitter but Reuters was not able to verify the authenticity of the claim and spokesmen for the group were not available for comment.

  • Oman’s state-owned entities change hands

    As the newly-formed Oman Investment Authority takes over most of the Gulf country’s public assets, questions arise as to whether this is streamlining the administration, economic reform or power consolidation?

  • Big changes in GCC automotive sector predicted post Covid-19

    The average life span of vehicles in the GCC has increased from 7.4 to 7.5 years to 8.1 to 8.2 years, meaning a rise on average spend on maintenance due to the average age of vehicle and mileage, offering a positive for the automotive aftermarket.

  • Saudi Aramco exec: Capturing carbon emissions can help combat climate change

    The issue is no longer about renewable energy versus fossil fuels. All energy sources are needed to meet the future demand. However, much of the world's energy is consumed in sectors that are hard to decarbonize, such as the steel, cement and chemicals industries. The path toward carbon balance inevitably includes hydrocarbons -- meaning that we have to find solutions for carbon emissions.

  • Perspective: Is the Saudi VAT increase a game changer?

    While the so-called Misery Index (that is the addition of the unemployment rate and the inflation rate) will undoubtedly shoot up in Saudi Arabia in 2020, the health of its public finance will still compare favourably with most of other countries on a longer term.

  • Iran’s economy and the burden of multiple exchange rates

    The Iranian economy has been struggling since the establishment of the Islamic Republic in 1979 for a number of reasons, including the government’s hardline foreign policies that challenge major world powers and their tensions with other countries in the Middle East.

  • Experts call on Saudis to change their spending habits

    As Saudi Arabia deals with the coronavirus disease (COVID-19) pandemic, concern about the economy is rising. Although many have hunkered down and organized some aspects of their lives, it is still tough to predict how things will pan out. People must, therefore, prepare for the unexpected to ensure they are in the best possible financial position to weather the storm.