MUST-READS

• Trump’s Middle East Policy and Its Impact on Saudi Arabia

  Trump’s renewal of the maximum pressure campaign could lead to rising tensions in the Gulf after a brief period of relative stability. The Saudis remember the fallout from Trump’s first campaign: On May 12, 2019, Iran attacked four ships off the Emirati Fujairah port; two of them were Saudi oil tankers. The escalating attacks culminated on Sept. 14, just nine days before Saudi National Day, when 18 drones and several cruise missiles were launched against the Abqaiq oil-processing facility – the largest in the world – and the Khurais oil field and processing plant. These attacks briefly disrupted more than half of Saudi oil production and 5% of global oil output.

• Why Saudi cash hasn’t been able to turn Newcastle into a soccer superpower

  Unlike Abu Dhabi-backed Manchester City, which has dominated English soccer over the past decade, and Qatari-backed Paris Saint-Germain, which has done likewise in France, it has been a slower burn for Newcastle, which hopes to end its trophy drought on Sunday when it faces Liverpool in the English League Cup final at Wembley. That is largely because these are different times and having mega-wealthy owners today does not give teams the freedom to spend as exorbitantly as they once did. Financial Fair Play (FFP) regulations essentially ensure teams can spend only in relation to what they earn.

• CEDA reviews role of reforms in diversification of economy and surge in non-oil revenues

  The report sheds light on financial performance during the fourth quarter of last year, including revenues, expenditures, and public debt indicators. It highlighted a 21 percent increase in non-oil revenues, reaching SR132 billion, compared to SR109 billion in 2023. The outcomes of the report affirmed the effectiveness of government efforts and reforms in diversifying the national economy and boosting non-oil activities, in line with the Saudi Vision 2030 objectives. It also highlighted the Kingdom’s continued support for development and service projects, as well as its commitment to enhancing the regulations for social care and protection.

• Inside the ‘camouflaged’ Desert Rock Resort: Saudi Red Sea destination draws global tourists at $3,200 per night
  Saudi Arabia‘s Red Sea Global’s newest ultra-luxury offering, Desert Rock Resort, has quickly established itself as a global draw since its December 15 opening, with its striking carved-into-mountain design capturing attention across social media platforms. The resort has attracted visitors from China, Eastern Europe and East Asia within its first three months of operation, despite premium pricing of SAR8,000-12,000 ($2,133-$3,200) per night. “Our first guest was a Chinese guest,” revealed Thomas Combescot, General Manager at Red Sea Global Hospitality. What distinguishes Desert Rock within Saudi Arabia’s rapidly expanding hospitality landscape is its architectural approach. Unlike most luxury resorts that showcase their presence, Desert Rock deliberately blends with its environment.

• Present without impact? How the Middle East perceives China’s diplomatic engagement

  In a new Scowcroft Middle East Security Initiative issue brief, “Present without impact? How the Middle East perceives China’s diplomatic engagement,” Jonathan Fulton argues that despite economic advancements and high-profile diplomatic engagements, China’s influence remains largely economic rather than political. Middle Eastern perceptions of China vary; it is seen as a cautious, transactional actor with limited capacity for addressing key regional conflicts and security concerns. Fulton adds that while Iran views China as a crucial partner, Gulf states leverage their ties with Beijing to maintain strategic flexibility.

• Grand Mufti rules against posting prayers and preaching in mosques on social media

  Saudi Grand Mufti and Chairman of the Council of Senior Scholars Sheikh Abdul Aziz Al-Sheikh called on imams and preachers to be sincere and avoid hypocrisy and showing off. He cited filming and posting prayers and preaching in mosques during the holy month of Ramadan on social media and channels as an example of incompatibility with sincerity. The Grand Mufti said this in a religious edict (fatwa) in response to a question about the decision taken by the Ministry of Islamic Affairs, Call and Guidance to ban filming and posting prayers and lectures on social media. “This issue was a serious one before the decision of the ministry to ban filming and posting prayers and lectures on social media as part of the measures to ensure avoiding errors that may occur,” he said while noting that there is the issue of sincerity, which is a condition for the acceptance of any act of worship. “There are two conditions to accept any work. They are sincerity to God, and that the work is in accordance with the spirit of the Holy Qur’an and the Prophet’s Sunnah,” he said.

• Saudi Aramco Oil Sales to China Set to Fall Sharply in April

  Saudi Aramco is set to supply the lowest amount of oil to China in several months, even as the OPEC+ cartel gears up to boost output. The state-owned Saudi Arabian major will send 34 million to 36 million barrels of April-loading crude to customers in China, the world’s biggest importer, according to data compiled by Bloomberg. That compares with 41 million for March, and a figure below 36 million would be the smallest since at least the first half of last year.

• How Saudi Arabia is Diversifying Its Economy

  “When you look at economic diversification, historically the Saudi economy relied heavily on one source. Now we have put a lot of emphasis to diversify the economy towards non-oil activities,” Alkhareif said in a conversation with Bentley President E. LaBrent Chrite in the Executive Dining Room in LaCava. “But that doesn’t mean we are devaluing the importance of the oil sector. If anything, we are leveraging the capabilities in the oil sector to provide energy to the global economy — particularly that fossil fuel continues to play a significant role in the global mix of energy.”   A major effort that has helped diversify the country’s labor market is the Women Empowerment Budget Initiative. By creating workplaces that are more conducive to women, the country saw a boost in women’s workforce participation to around 36%, which exceeded the initial 30% target put forth under Vision 2030. Alkhareif underscored the major role of the kingdom’s fiscal policy in advancing social spending, including by improving access to healthcare and education, noting that social spending in the Saudi Arabia is at the top compared to other G20 countries.

• IPOs in Saudi market poised for strong growth in 2025: EFG Hermes

  Karim Meleka, Co-Head of Investment Banking at EFG Hermes, said 2025 is set to witness strong activity in the Saudi and regional IPO markets, with the Kingdom maintaining dominance as it has for the past four to five years. Speaking to Argaam at the Capital Markets Forum (CMF), Meleka highlighted a wave of IPOs across multiple sectors. Healthcare, real estate, retail, and financial services are all seen to witness significant IPO activity. EFG Hermes has been actively involved in the healthcare sector. Last year, the firm took two sector companies public and is planning to list two more in 2025. The real estate sector is also heating up, particularly in facilities management, where EFG Hermes is working on two upcoming IPOs.

• Despite tough talk, economic woes may force Iran to bargain with Trump
  For Iran's clerical leaders, engaging with the "Great Satan" to hammer out a nuclear deal and ease crippling sanctions may for once be the lesser of two evils. Though it harbours deep mistrust of the United States, and President Donald Trump in particular, Tehran is increasingly concerned that mounting public anger over economic hardships could erupt into mass protests, four Iranian officials said. That's why, despite the unyielding stance and defiant rhetoric of Iran's clerical leaders in public, there is a pragmatic willingness within Tehran's corridors of power to strike a deal with Washington, the people said.

• 10 of 63018 results<< 1 … 4 5 6 … 6,302 >>