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  • Difficult Times for the Saudi Binladin Group
     

    The Saudi Binladin Group (SBG) is facing its toughest challenges in the construction giant’s 85 years of operation as tightened government spending and a 8-month restriction on new projects in the pipeline has undermined the company’s finances. Saudi Binladen has announced a reduction in jobs totaling 77,000, or about one-third of its total workforce. “The […]

     
  • What Will Be Saudi Arabia’s Next Tourist Destination?
     

    Saudi Arabia’s King Abdullah Economic City (KAEC) attracted more than 100,000 visitors last year, a sign that the planned mega city about 100 miles north of Jeddah on the Red Sea might become Saudi Arabia’s next domestic tourist destination. Although Saudi citizens typically flock to Dubai, Bahrain, or elsewhere abroad for leisure trips, that might […]

     
  • With Extreme Stance on Muslims, Trump Angers Arab Businessmen, Jeopardizes Global Business Interests
     

    Arab businessmen and Gulf industry leaders are blasting Donald Trump for his extreme views on Muslims, with some of the region’s most powerful men branding Trump “the biggest enemy of Islam” and others eyeing a rethink of ties with the controversial Republican presidential candidate. Trump’s comments are having a very real impact on his business interests in the […]

     
  • Construction Week’s 2015 Power 25 list for Saudi Arabia; El Seif Engineering #2
     

    The well-regarded industry tracker, Construction Week Online, issued its 2015 Power 25 for Saudi Arabia recently.  As the article notes, “This is a celebration of those who are shaping both the industry, and the regional landscape. True to its roots, this year’s list is dominated by powerhouses from across Saudi but you will notice new entrants […]

     
  • Islamic Scholars in Saudi Arabia Skeptical of Age of Birmingham University Quran
     

    A Qur’an manuscript held by the University of Birmingham has been placed among the oldest in the world “thanks to modern scientific methods,” the UK-based college said, but some Islamic scholars in Saudi Arabia are expressing their doubts. The age of the Quran was put by the University between AD 568 and 645 with 95.4% […]

     
  • #FocusKSA: 3 Experts Discuss Saudi Intervention in Yemen
     

    Saudi Arabia’s airstrikes against Houthi rebel positions in Yemen as part of Operation “Determination Storm” or “Decisive Storm” is the subject of the latest SUSTG and SUSRIS FocusKSA series of online video discussions. SUSRIS’ Patrick Ryan interviewed three experts for their analysis on the conflict: Dr. Theodore Karasik, Gulf-based regional specialist Prof. David Des Roches, […]

     
  • Saudi Arabia’s ‘New Desert Megacity’ KAEC 15% Complete
     

    The BBC’s Sylvia Smith checks in on development at the King Abdullah Economic City north of Jeddah, one of four “megacity” projects envisioned by King Abdullah to be developed in the coming years. At a cost of $100bn, Saudi Arabia’s King Abdullah Economic City (KAEC) is currently only 15% completed. “Peppered with cranes, the city […]

     
  • Is Saudi Arabia Moving Towards a Future Without Expatriate Workers?
     

    Today in the Dubai-based newspaper The National, Gulf expert Theodore Karasik writes that Saudi Arabia is moving to provide more jobs for Saudis, and that under new King Salman, change is in the works for its troubled labor sector. The goal to stop relying on expatriate workers and to transition to a nearly all-Saudi workforce is […]

     
  • Despite Falling Oil Prices, Saudi-Dow Chemical $20 Billion Chemical Plant Going Ahead
     

    Despite a significant fall in oil prices since July 2014, Saudi Arabia’s joint venture partnership with Dow Chemical to build a $20 billion chemicals plant is going forward with an estimated completion date at full output of 2017, according to a report in Bloomberg based on comments made by a company official in Dubai. The ambitious […]

     
  • A Transitioning Kingdom of Saudi Arabia: SUSRIS Interviews Theodore Karasik
     

    This week, SUSRIS featured in two parts a wide-ranging interview with Dr. Theodore Karasik in which the expert discussed the recent transition in Saudi Arabia and the implications for regional and global affairs. Karasik, based in Dubai as a Senior Advisor to Risk Insurance Management and formerly Director of Research and Development at the Institute for […]

     

MUST-READS

  • Dubai Ruler announces new historic era driven by technology

    Sheikh Mohammed added that GITEX 2022, which ends on Friday, is the “largest technology exhibition in the world”. The event is taking place at the Dubai World Trade Centre (DWTC), and has seen participation from over 5,000 companies across 90 countries. “A quick tour of the existing global technology companies confirms that humanity is in a historical transit stage towards a future governed by technology,” Sheikh Mohammed wrote in a Twitter post.

  • World’s first two-seater electric flying car takes off from Skydive Dubai

    The world’s first electric flying car, designed by Chinese electric vehicle manufacturer XPeng, took off from Skydive Dubai on Monday. The test flight was hosted by the Dubai International Chamber, one of three Chambers operating under Dubai Chambers. The eVTOL X2 flying car produces zero carbon dioxide emissions during flight, and is designed with low-altitude city capabilities in mind, reaching a maximum flight speed of 130 kilometres per hour.

  • Dubai’s Luxury Home Market Is Booming as Wealthy Buyers Flock to City

    Dubai’s prime real-estate prices jumped 89% over the past 12 months, buoyed by a deluge of wealthy buyers setting up second homes in the city, according to property consultant Knight Frank.

  • What are the best business hotels in the Middle East: Dubai, Abu Dhabi

    This is the first ranking of its kind between CNBC and Statista, which also jointly released hotel rankings in Europe today. Asia-Pacific rankings were published in September. In total, we analyzed more than 10,000 four- and five-star hotels in 117 locations to produce lists corporate travelers can trust.

  • What are the best business hotels in the Middle East: Dubai, Abu Dhabi

    This is the first ranking of its kind between CNBC and Statista, which also jointly released hotel rankings in Europe today. Asia-Pacific rankings were published in September. In total, we analyzed more than 10,000 four- and five-star hotels in 117 locations to produce lists corporate travelers can trust.

  • Salik IPO: Dubai toll operator raises over $1bn from oversubscribed DFM listing

    Dubai toll operator Salik raised Dh3.735 billion ($1.017bn) from its initial public offering on the Dubai Financial Market, as part of a series of IPOs of state enterprises aimed at boosting the size of the emirate's capital market. The IPO was more than 49 times oversubscribed across all tranches, with total gross demand at Dh184.2bn ($50.2bn). The company had set its offering price at Dh2 a share, giving it a valuation of Dh15bn.

  • Dubai’s Future Is in the Hands of Crown Prince Sheikh Hamdan and Sheikh Maktoum

    “Think of it as a company,” said Nasser Al-Shaikh, Dubai’s former finance chief, who helped steer the emirate through the 2009 debt crisis. “Hamdan is the chairman and Maktoum is the CEO. Hamdan is the face of Dubai and the crown prince, but decisions on all issues are made after consultation between the two brothers.”

  • Dubai on track to become one of the ‘wealthiest cities in the world:’ Report

    Home to over 65,000 millionaires, the emirate is strengthened by economic contributions from the financial services, oil and gas, real estate, travel and tourism, technology, and healthcare industries

  • Revealed: The real businesses of The Real Housewives of Dubai

    The Real Housewives of Dubai, a part of The Real Housewives franchise, follows the lives of six women residing in Dubai, but all of these women are behind businesses in addition to their role as a housewife on the show.

  • Dubai Office Rents Are Rising Faster Than In New York and London

    The rush for office space in the emirate is on show in skyscrapers like ICD Brookfield Place, which towers 928.5 feet (283 meters) over the financial district. The tower opened just as the pandemic spread globally, but roughly 90% of its 1.1 million square feet of office and retail space is now taken or under offer, with a long wait list for the rest.