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  • Ministry of Labor Moves to Implement Saudisation of all Telecom Shops
     

    The Saudi Ministry of Labor and Social Development continues to move aggressively to implement its goal to Saudize the telecom sector – specifically workers in mobile telephone shops – by September 2, 2016. Minister Mofrej Al-Haqbani had previously stated that, “We have no intention of postponing the implementation of the decision or extending the grace […]

     
  • Saudi Capital Market Authority Eases Guidelines for Qualified Foreign Investors
     

    Saudi Arabia’s Capital Market Authority (CMA) Board has approved changes to rules that regulate what type of foreign investor can enter into the Saudi stock market.  The changes include 24 Articles that address procedures, requirements, and conditions for the registration of qualified foreign investors (QFIs) with the CMA to invest in listed securities in the Saudi […]

     
  • Amended Rules Increasing Foreign Investor Access to Saudi Stock Market Approved
     

    Saudi Arabia’s Capital Market Authority (CMA) Board has approved changes to rules that regulate what type of foreign investor can enter into the Saudi stock market.  The changes include 24 Articles that address procedures, requirements, and conditions for the registration of qualified foreign investors (QFIs) with the CMA to invest in listed securities in the Saudi […]

     
  • Is Saudi Arabia’s Economy Turning the Corner?
     

    Saudi Arabia’s non-oil private sector may be showing signs of stabilization after roughly two years of uncertainty and significant economic policy changes, according to new data. A recently published Saudi Arabia PMI by Emirates NBD shows growth in Saudi Arabia’s non-oil private sector accelerated to an eight-month high in July. “July’s survey is encouraging as it suggests […]

     
  • Jadwa Saudi Chartbook for August 2016: Signs of ‘Resilience’ in Saudi Economic Activity
     

    Jadwa Investment’s Saudi Chartbook for the month of August found points of “resilience” in economic activity, according to chief economist and head of research Fahad Al-Turki. “June data showed resilience in economic activity. Data on point-of-sale transactions and ATM withdrawals came out strong, while the non-oil PMI continued to reflect an expanding non-oil economy,” Jadwa said. Data on […]

     
  • $6.9 billion in Tourist Projects Approved under Saudi NTP
     

    Saudi Arabia approved more than SR26 billion ($6.9 billion) of tourism projects under the Kingdom’s National Transformation Program (NTP) on Sunday, according to reports. The funding will go to existing development projects in the pipeline as well as new efforts to preserve Saudi Arabia’s heritage sites, of which many are seen as underdeveloped and inadequately protected. Previously, […]

     
  • Aramco Names Ibrahim Al Buainain as Chief Executive of Its Trading Arm
     

    Saudi Aramco has named Ibrahim Al-Buainain as chief executive of its trading arm, the company said on Tuesday, as Al-Buainain’s star continues to rise within the ranks of the energy giant. Ibrahim Al-Buainain’s promotion to CEO of Saudi Aramco Trading takes effect this month. In November 2014, Aramco named Al Buainain as head of Saudi […]

     
  • SABIC, Exxon Affiliate Studying JV Petrochemicals Complex on U.S. Gulf Coast
     

    Saudi Arabia’s SABIC said Monday it is studying launching a jointly-owned petrochemicals complex with an affiliate of U.S. Exxon Mobil. fIf developed, the project would be “located in Texas or Louisiana near natural gas feedstock and include a world-scale steam cracker and derivative units,” the company said. Before making final investment decisions, the companies will “conduct necessary […]

     
  • New Saudi Fund Created by Apicorp and Bahri Seeks to Create Biggest Tanker Fleet
     

    A venture between Arab Petroleum Investment Corporation (Apicorp) and National Shipping Co. of Saudi Arabia (Bahri) “will create the world’s largest fleet of oil tankers and support the kingdom’s plan to boost crude exports,” according to a report in Bloomberg, which cited comments from Dr. Khalid al-Falih. The venture will create a $1.5 billion fund […]

     
  • G.E., Aramco Ventures Pump $52m into Boston-Area 3D Printing Startup
     

    General Electric Ventures and Saudi Aramco Ventures have led an investment of $52m in total funding into a Boston-based 3D printing device company, Desktop Metal. Desktop Metal aims to bring “an everyday-use metal 3D printing solution to the workspace of every engineering team,” according to CEO Ric Fulop. Boston Business Journal reports that the investment from […]

     

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