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  • Saudi Bank Liquidity Pressure Eases as Government Deposits Surge

    Saudi bank liquidity pressure moderated in 2023 and liquidity conditions should remain reasonable in 2024, Fitch Ratings says. Liquidity has been supported by increased deposit inflows from government-related entities (GREs), which grew by SAR147 billion (23%) in the 12 months to end-October 2023 and represented 70% of total deposit inflows in the period.

  • Riyadh draws over 200 companies seeking government contracts in Saudi Arabia

    Saudi capital Riyadh has emerged as a new regional hub for over 200 international companies, aligning with an upcoming Saudi government policy.
Effective January 1, 2024, the policy requires international firms to establish their regional headquarters in the Kingdom to be eligible for government contracts.
    The move is part of Saudi Arabia’s strategy to strengthen Riyadh’s status as a global commercial centre and has led to many corporate relocations. 
Companies from diverse sectors, including energy, technology, healthcare, and hospitality, have already established their regional bases in Riyadh.

  • Saudi Arabia Government Launches a “Farming Tourism” Business

    Dan’s first project will be located in the Al Ahsa region and will cover 1.8 million square meters. It will feature an eco-resort, an agri-resort and an adventure resort, according to the Public Investment Fund (PIF). The company is also expected to contribute approximately $1.6 billion (SAR 6 billion) to Saudi Arabia’s non-oil GDP by 2030, betting on intrepid travelers getting involved in “traditional farming experiences” in the Gulf state.

  • Saudi SMEs see $270m boost from government-backed fund

    More than SR1 billion ($270 million) has been allocated to small and medium enterprises in Saudi Arabia since 2017 by a government-backed platform known as Forsa. The Human Resources Development Fund announced in a statement that the platform, part of the “Nine Tenths” program, has witnessed significant growth, with approximately SR500 million being allocated in the year 2023 alone. Forsa serves as a link between suppliers and buyers, enabling registered entities to electronically review and submit price quotations for government and private sector procurement, according to the statement.

  • UAE to deliver government services shake-up by 2024

    The Zero Government Bureaucracy programme announced on Wednesday is intended to build on the Smart Government initiative launched in 2013 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai.

    It is also part of the We Are the Emirates 2031 vision, as well as UAE Centennial 2071 goal, which is aimed at strengthening soft power, building Emirati values and ethics for future generations, improving productivity and community cohesion.

  • Israel’s Netanyahu, Gantz reach deal to form emergency government

    Prime Minister Benjamin Netanyahu and head of the National Unity party Benny Gantz have reached an agreement to form an emergency government on Wednesday as the war against Hamas enters its fifth day and a Gaza invasion looms. Gantz will join the Netanyahu-led government and be part of a war cabinet, a small forum of ministers tasked with shaping Israel’s strategy in the battle against Hamas, Israeli news outlets reported.

  • How would a US government shutdown affect the Middle East?

    Viewed from overseas, a US federal shutdown might merely look like a domestic problem created by polarised politicians. But a closure of key federal services could have impacts abroad, too.

  • Opinion: You Can’t Normalize Relations With a Government That Isn’t Normal

    So, I want to appeal directly to President Biden and the Saudi crown prince, Mohammed bin Salman: Do not let Netanyahu make you his useful idiots. You cannot have normalization with an Israeli government that is not normal. It will never be a stable U.S. ally or Saudi partner. And right now, Israel’s government is not normal.

  • Anti-government protests in Syria spurred by economic crisis and inflation

    Anti-government anger is mounting in southern Syria, where rare protests in the heartland of the minority Druze community are now into their second week. The protests were initially driven by surging inflation and the war-torn country's economic crisis, but have quickly shifted focus, with marchers now calling for the fall of the Assad government.

  • Saudi crown prince invited to visit UK, government source says

    Saudi Crown Prince Mohammed bin Salman has been invited to visit the UK, a government source has said. No 10 said they would confirm the prime minister's engagements in the usual way, with nothing in the diary yet. But a separate government source said there was no reason to think the visit would not happen. It would be the first visit since the murder of the journalist Jamal Khashoggi at the Saudi consulate in Istanbul in 2018.