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  • Report: Saudi Arabia Eyes Oil Port in Eastern Yemen near Oman
     

    Saudi Arabia is reportedly eying a new oil port to be built in Yemen’s southeast al-Mahra governorate, near Oman, where Saudi-led coalition troops are present, the energy-focused website oilprice.com reports. Saudi Arabia-based marine construction company Huta Marine has sent a letter to the Saudi ambassador to Yemen in which it thanks the official for the opportunity to […]

     
  • C3 U.S. – Arab Healthcare & Business Summit 2018 Set for Monday September 24th in New York City
     

    The C3 U.S. – Arab Healthcare & Business Summit 2018 will assemble business leaders, policy makers, educators and healthcare professionals from the Arab world and the United States to bolster and promote U.S. and Arab world initiatives that are focused on the most up-to-date healthcare topics including infrastructure, the shift from communicable diseases, the future […]

     
  • Secretary of State Mike Pompeo’s Speaks with Saudi Crown Prince Mohammed bin Salman
     

    Secretary of State Michael R. Pompeo spoke today with Saudi Crown Prince Mohammed bin Salman by phone to discuss several regional issues, according to a statement released by the State Department. Secretary Pompeo “thanked the Crown Prince for Saudi Arabia’s support for northeast Syria’s urgent stabilization needs, its engagement with the Iraqi government, and its […]

     
  • Saudi Ambassador to the US Prince Khalid Bin Salman Visits CENTCOM in Florida
     

    Saudi Ambassador to the United States Prince Khalid bin Salman visited the US Central Command (CENTCOM) headquarters in Tampa, Florida this week to meet with top U.S. military officials and Saudi officers stationed at the facility, Arab News reports. The Ambassador, a former F-15 pilot and tactical intelligence officer in the Royal Saudi Air Force (RSAF), held […]

     
  • Report: Saudi Delegation of Companies Led by Ministry of Economy and Planning Set to Visit New York
     

    The Saudi Ministry of Economy and Planning (MEP) will lead a delegation comprising of a “number of government and private-sector entities and representatives of charitable associations” to the United States to present a review of the country’s progress on sustainable development, according to reports. The delegation will participate in the UN’s High-level Political Forum on […]

     
  • Will Uber and Careem Merge?
     

    San Francisco-based Uber Technologies Inc. and Dubai-based Careem Networks FZ are in preliminary talks to combine their Middle Eastern ride-hailing services, according to reports, in a merger that would create one dominant presence in the market and avoid a potentially costly rivalry. Bloomberg reports that the two companies have discussed a potential merger but the companies have only discussed […]

     
  • Privatization and Vision 2030: Report Looks at Opportunities, Challenges for Saudi Arabia’s Ambitious Plans
     

    A recently released Jadwa Investment report lays out in detail Saudi Arabia’s ambitious privatization plans as part of its Vision 2030 economic and social reform program and identifies opportunities and challenges for decision-makers. The research report, entitled “Privatization and Vision 2030” which was emailed in a note to investors by Jadwa’s head of research Dr. Fahad Alturki, […]

     
  • Report: Trump Requested Saudi Oil Support Before Iran Nuclear Decision
     

    A day before President Trump withdrew from the Iran nuclear deal, one of his senior officials phoned key ally Saudi Arabia to ask the world’s largest oil exporter to help keep prices stable if the decision disrupted supply, Reuters reports. As Reuters reports, although the U.S. and Saudi Arabia are close allies, rarely has the United States put […]

     
  • IMF: Saudi Arabia Making ‘Good Progress’ on Vision 2030, Should Focus on Balanced Budget in 2023
     

    Saudi Arabia is making good progress in implementing Vision 2030 economic and social reforms, the International Monetary Fund (IMF) said in a statement late on Tuesday, as it urged the Kingdom not to increase spending and to focus on a balanced budget by 2023. “The government remains committed to wide-ranging economic and social reforms to transform the […]

     
  • Saudi Ministry of Justice Announces Launch of Alimony Fund ‘Modeled on UK’s Child Maintenance Service’
     

    Saudi Arabia’s Ministry of Justice is planning to launch an alimony fund similar to the United Kingdom’s Child Maintenance Service in an attempt to “empower mothers and provide sustainable living and support, for them and their children,” the Ministry said in a press release. The alimony fund is dedicated to women who are divorced and facing difficulty […]

     

MUST-READS

  • Energy Conservation
    Thermal Insulation and Energy Conservation

    Given the extraordinary level of electricity consumption in Saudi Arabia, the government is getting around to requiring thermal insulation in new buildings. At present, most dwellings in Saudi Arabia are made of either concrete block or poured concrete. Neither is particularly noted for its insulation qualities, though they are good at heat retention. But heat retention is not what’s desired or needed in Saudi Arabia, where air conditioning is a major source of energy demand.

  • Non-oil Growth
    Non-oil private sector in Saudi Arabia surges to over 3-year high

    In the latest Saudi British Bank PMI report, it noted that the growth was underpinned by accelerated increase in new work and output. Latest data showed that new business rose at its strongest pace for 28 months, amid strong demand for goods and services. Notably, construction was reported by several sources to be a key area of demand growth, while others reported the benefits of higher marketing and promotional activities.

  • OIl
    Saudi Aramco trades first fuel oil derivative on Platts

    Saudi Aramco traded its first fuel oil derivative on Platts on Thursday and is expected to become more active in its paper trading activities, sources said.

  • Global Oil Markets
    Privately, Saudis Tell Oil Market: Get Used To Lower Prices

    Until recently, Gulf OPEC members have been saying that the price dip was a temporary phenomenon, betting on seasonal demand in winter to prop up prices. But a growing number of oil analysts now see the latest slide as something more than a seasonal downswing; some say it is the start of a pivotal shift to a prolonged period of relative abundance. Rather than fight the decline in prices and cede market share in the face of growing competition, Saudi Arabia appears to be preparing traders for a sea change in prices.

  • Non-oil private business activity
    Saudi private sector growth hits three-year high in September

    Non-oil private business activity in Saudi Arabia grew at the fastest pace in over three years last month, buoyed by strong expansions in new orders and employment, a survey showed on Tuesday.

  • Information Technology
    Government IT spending fuels Kingdom of Saudi Arabia’s innovation economy

    Overall IT spending in the Kingdom - the Middle East's largest IT market - is set grow by 23 percent from US$ 11.5 billion in 2014 to US$ 14.2 billion in 2017 according to IDC's report 'Saudi Arabia Vertical Markets 2013-2017 IT Spending Forecast'. Government will be the fastest-growing vertical in this period, with a compound annual growth rate of 12.9 percent, according to IDC. Guiding investment is the Kingdom's Ninth Development Plan, which projects a 27 percent increase in government spending from SAR 150 billion in 2009 to SAR 191 billion in 2014.

  • Private Sector Growth
    Saudi private sector growth hits 3 year high in August

    Saudi Arabia's non-oil business activity grew in August at its fastest pace in more than three years, as rises in output, new orders and employment all gained momentum, a new survey has showed. The seasonally adjusted SABB HSBC Saudi Arabia Purchasing Managers Index rose to 60.7 points last month - the highest level since July 2011 - from 60.1 points in the previous month. Any reading above 50 points indicates expansion; anything below, contraction.

  • Work Week
    Saudi five-day week for private sector scrapped

    A plan by Saudi Arabia’s labour ministry to give two days off a week in the private sector is being shelved following tremendous pressure from investors and the business community.

  • Nitaqat
    1.5 million Saudis now work in private sector

    There were almost 1.5 million Saudis employed in the private sector in 2013, an increase of more than 332,000 compared with 2012, according to data released by the Ministry of Labor.

  • 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.