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  • Design Released for Saudi Arabia’s New Global Business School in Jeddah
     

    Renderings of the forthcoming Global Business School in Jeddah have been published online, depicting a massive building that will serve as a modern campus for the educational institution in Saudi Arabia’s second largest city. The new business school, which will have both Saudi and international students, is expected to open in 2020 and will operate […]

     
  • For Oil Markets, ‘Volatility is Back’
     

    Rising optimism around global economic growth coupled with continued OPEC compliance to output targets and rising geopolitical tensions all contributed to pushing Brent oil prices to near 2014 highs, according to a recent report on the oil market by Riyadh-based Jadwa Investment. “Although oil prices were pressured somewhat at the start of April  due to trade tensions […]

     
  • Saudi Arabia’s Swings for Fences With ‘Bold, Risky’ Solar Bet
     

    Saudi Arabia and SoftBank signed a MOU to build a $200 billion solar power project this week in New York, dwarfing all other existing or planned projects in the world and placing the Kingdom and its 3,000 hours of sunshine a year into a global leadership position in the renewable energy field. The project, unveiled in New York this week […]

     
  • Russian, Chinese Interests ‘Eager’ to Invest in Saudi Aramco IPO as Cooperation Heats Up
     

    The head of the Russian Direct Investment Fund (RDIF) said in Riyadh today there is “significant interest” to invest in the forthcoming Aramco IPO from Russia and from China, according to reports. Several banks and other groups in Russia are interested in investing in shares of Aramco, according to Bloomberg, which reported comments from Kirill Dmitriev, chief […]

     
  • Report: Locations Scouted for Potential Nuclear Power Plant Sites in Saudi Arabia
     

    Saudi Arabia is eying initial work on two sites for its first nuclear power plants, a report in MEED said, as the Kingdom looks to bolster alternative sources of energy to free up oil for export and power the growth needed for its Vision 2030 program. The kingdom has shortlisted two sites “and has invited […]

     
  • Saudi Alternative Energy Sector Set for Big Year with Localization in Focus
     

    With U.S. shale now forecasted by analysts and the U.S. EIA to out-produce Saudi Arabia and Russia in 2018, and Saudi Arabia needing to burn less of its own oil for domestic use and continue toward a more sustainable economy, alternative energy in the Kingdom has never been hotter. Saudi leaders have long talked about the benefit of a […]

     
  • The U.S. Reported to be Assessing Support of Saudi Arabia’s Nuclear Energy Plans
     

    The Trump administration is reportedly holding talks on providing nuclear technology to Saudi Arabia in a move that would be a significant shift in U.S. policy, ProPublica reports. The report notes that, “The Trump administration hasn’t stated a position on whether it will let the Saudis have enrichment and reprocessing technology. An NSC spokesman declined […]

     
  • Reports: China Offers to Buy 5% of Aramco IPO
     

    Chinese state-owned oil companies PetroChina and Sinopec have written to Saudi Aramco in recent weeks to express an interest in a direct deal to purchase up to 5% of Saudi Aramco, according to an exclusive report in Reuters, in a move that would shelve the Company’s plans to list on international markets in favor of a direct […]

     
  • Saudi Aramco Denies Financial Times Report on Shelving Long-Awaited IPO
     

    Saudi Aramco has denied a report in the London-based Financial Times that the state-controlled company will shelve its plans to list part of the company on international indices in favor of private placements. The Financial Times reports that talks about “a private sale to foreign governments including China and other investors have gathered pace in recent […]

     
  • Saudi Arabia to Award Nuclear Reactor Contract by End of 2018; U.S. Set to Miss Out
     

    Saudi Arabia plans to award a construction contract for its first nuclear reactors by the end of 2018, a senior government official said on Tuesday as reported in Reuters. “With sponsorship from the highest levels in the state, the contract will be signed by the end of 2018,” Maher al Odan, the chief atomic energy […]

     

MUST-READS

  • India Is Chasing China’s Economy. But Something Is Holding It Back.

    India’s economy is booming. Stock prices are through the roof, among the best performing in the world. The government’s investment in airports, bridges and roads, and clean-energy infrastructure is visible almost everywhere. India’s total output, or gross domestic product, is expected to increase 6 percent this year — faster than the United States or China.

  • Saudi Arabia Is the New China for Investors Hunting Down Growth

    Argyle says Saudi Arabia is still “very underrepresented” in investor portfolios even after the Tadawul index attracted net foreign inflows of over $3 billion this year. That’s a fraction of the $24 billion that poured in when the index joined the MSCI benchmark four years ago, but analysts say the volume will grow as reforms get under way.

  • ‘Under-represented’ Saudi Arabia is the new China for investors hunting growth

    Throngs of consultants wearing Western attire have become a common sight in the lobbies of Riyadh’s plushest hotels as Crown Prince Mohammed bin Salman embarks on a multi-trillion dollar plan to wean Saudi Arabia off oil. In recent months they’ve been joined by another cohort of besuited individuals: fund managers, keen to get an early foothold in the next big emerging-market growth story. The kingdom, which only joined the MSCI Emerging Markets index in 2019, has historically attracted very little from the billions of dollars that stock investors allocate to global stock markets. Fund managers were put off by the lack of liquidity in the Tadawul All Share Index, which limits full foreigner ownership, and by the nation’s over-reliance on fossil fuels.

  • More than 60 deals worth $26.5B signed at Saudi-China Investment Conference

    Saudi Arabia and China signed on Dec. 12 more than 60 memorandums of understanding (MoUs) and investment agreements with a total value exceeding $26.5 billion.   The deals cover key sectors and were signed in the presence of Minister of Investment Khalid Al-Falih and Chinese Vice Minister of Commerce Li Fei, on the sidelines of China-Saudi Investment Conference.   The conference witnessed the attendance of nearly 1,200 officials from both the government and private sectors of both countries.

  • China’s Ailing Clean Energy Industry Eyes Remedy in Saudi Arabia

    China’s clean energy firms are looking to the Middle Eastern kingdom to globalize their manufacturing bases as firms come under unprecedented margin pressure at home and trade tensions worsen with the US and its allies. Saudi Arabia offers benefits including low-cost electricity, good relations with a wide variety of countries and a location central to Europe, Asia and Africa, said Sean Wang, executive president of international operations for TCL Zhonghuan Renewable Energy Technology Co., which is building a 20-gigawatt solar wafer factory in the kingdom.

  • China’s Essential Role in the Gulf States’ Energy Transitions

    China has established itself as an essential partner in Gulf states’ energy transitions. China and Chinese companies have built on their ties with Gulf states in the oil and petrochemical sectors and have gradually transitioned to higher-value inputs in the renewables sector, becoming investors and coinvestors in Gulf states’ largest-scale solar and wind projects in the Middle East and beyond.

  • China deepens ties with Saudi Arabia at Hong Kong gathering

    China’s vice-premier He Lifeng told Hong Kong’s elite last month that he had “some suggestions” for the territory — a list that included building closer ties with the Middle East. Hong Kong should “further expand its circle of friends” by developing relationships in the region, he said. This week, it is taking an important step in its effort to do so. Saudi Arabia’s Future Investment Initiative Institute, which hosts the Gulf state’s so-called Davos in the Desert conference in Riyadh, opened its first Asia gathering in Hong Kong on Thursday.

  • China, Saudi Arabia sign currency swap agreement

    The People's Bank of China and the Saudi Central Bank recently signed a local currency swap agreement worth 50 billion yuan ($6.93 billion) or 26 billion Saudi riyals, both banks said on Monday, as bilateral relations continued to gather momentum.

    Saudi Arabia, the world's top oil exporter, and China, the world's biggest energy consumer, have worked to take relations beyond hydrocarbon ties in recent years, expanding collaboration into areas such as security and technology.

  • Ministers from Arab, Muslim countries to visit China in bid to end Gaza war – Saudi minister

    The tour will be the first step in carrying out decisions reached at a joint Arab and Islamic summit held in Riyadh this month, Prince Faisal said on the sidelines of a conference in Bahrain in comments posted by his ministry on the social media platform X on Friday. "The first stop will be in China, then we will move to other capitals to convey a clear message that a ceasefire must be announced immediately, and let in aid," the minister said.

  • Temasek loads up on JD.com, Saudi PIF adds PDD shares in their bet on China’s consumption recovery, even as other foreign investors flee

    Two of the world’s biggest state owned investors have poured money into China’s consumption stocks during the third quarter, raising their bets on transformation of the world’s second largest economy at a time when Western investors are retreating over growth concerns and amid an intensifying property crisis.

    Saudi Arabia’s Public Investment Fund (PIF) boosted its stake in PDD Holdings by 45 per cent to 1.7 million shares in one the biggest adjustment to its US$36.5 billion equity portfolio last quarter, its latest 13F filing with the Securities and Exchange Commission showed.