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  • More than half of GCC population under age 25
     

    The countries of the Gulf Cooperation Council (GCC) have a low population compared with other regions, totaling 45 million people in 2011, less than 1 percent of the global population, a recently published report read. The report, filed by Kuwait Financial Center (Markaz), highlighting the GCC demographic shift, said the region is young, with 54 […]

     
  • Saudi public sector’s bank credit rebounds
     

    Bank lending in Saudi Arabia is continuing at a generally brisk pace, the National Commercial Bank said in its “GCC Financial Market Quarterly” released Monday.The report said liquidity conditions supporting this credit expansion remain very benign. However, the growing economic confidence has begun to hit deposit growth somewhat and the annual pace of expansion decelerated […]

     
  • Jadwa Investment’s Saud June 2012 Inflation Report
     

    Jadwa Investment’s recently released June inflation report found year-on-year inflation for Saudi Arabia eased again in June, slipping to 4.9 percent from 5.1 percent in May, the first time it has been below 5 percent since August 2011. The Riyadh-based investment firm also found lower rental inflation caused most of the fall. Jadwa’s report is […]

     
  • Saudi Arabia Ghazal Defies Camels as SUV for Desert Market
     

    Saudi Arabia is venturing into a territory normally reserved for automakers. The kingdom is developing the Ghazal, a sport-utility vehicle for the hazards of the desert, to diversify its economy beyond oil. The SUV, built by King Saud University in Riyadh, is an all-wheel drive vehicle with a rugged carbon-fiber frame aimed at taking on […]

     
  • Sarah Attar Is a Saudi Trailblazer, By Way of the U.S.
     

    One of the first women to compete for Saudi Arabia at the Olympics was born and raised in California. The athletes are Wodjan Ali Seraj Abdulrahim Shahrkhani, who competes in judo, and Sarah Attar, a 19-year-old junior at Pepperdine University and a graduate of Escondido High School in California. Attar, who trains in San Diego, […]

     
  • Living Social
     

    In their pursuit to be where the young consum­ers are, brands have long identified social media as a crucial place to establish a presence. Where else will you find huge numbers of youngsters highly active and engaged? Results from market research company TNS indicate that 68 percent of MENA youth spend 12 hours per  week […]

     
  • Saudi Arabia to Send Olympic Women Athletes for First Time
     

    Saudi Arabia will send female athletes to the Olympic Games for the first time, the International Olympic Committee said, ending a ban by the kingdom where women aren’t allowed to drive. Wodjan Ali Seraj Abdulrahim Shahrkhani will compete in judo at the London Games and Sarah Attar will run the 800 meters. The athletes, who […]

     
  • Saudi Arabia Weighs Annual Budget to Boost Clean Energy
     

    An annual budget for renewables would differ from the feed- in tariffs that Germany, Spain, Italy, France and Britain offered to spur solar and wind power in their nations. Germany was first to introduce the feed-in tariff in 2004 and became the world’s biggest market for solar because of the subsidy, which is paid for […]

     
  • Saudi Arabia wins oil battle against Iran
     

    It seems that the first round in the series of the ferocious battles between Iran and Saudi Arabia, the two giant oil-exporting countries, was settled in favor of the latter. The Kingdom continued to produce oil regardless of the Iranian threats warning the Kingdom against filling the shortage in oil supplies that might result from […]

     
  • Showing Pragmatism, Egypt’s Morsi Looks to Saudi
     

    The first official foreign visit of any newly elected president represents a significant symbolic statement. Knowing this, new leaders choose their first visit very carefully, often selecting a country that is either a major strategic ally or an important trade partner. Nonetheless, the Egyptian government’s announcement that President Mohammed Morsi’s first foreign visit will take […]

     

MUST-READS

  • Saudi PMI rises to 56.3 points in September

    The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI), formerly S&P Global Saudi Arabia PMI, rose to 56.3 points in September 2024. This was the highest reading since May and signaled a further acceleration in non-oil private sector growth. On a monthly basis, the rise was attributed to a sharper expansion in output and new orders, in addition to a tightening of supply conditions. Growth was robust overall and widespread across the monitored segments of the non-oil economy.

  • 2-state solution the only viable path to lasting peace in Middle East, says Saudi foreign minister

    Now is the time to embark on an irreversible path to resolving the conflict between Israelis and Palestinians that culminates in the establishment of two independent states in which the peoples can live side by side in peace, Saudi Arabia’s foreign minister said. In an op-ed published in the Financial Times on Wednesday, Prince Faisal bin Farhan wrote that a two-state solution is the only viable way to ensure the long-term security of Palestine, Israel and the wider region.

  • Putin’s war economy faces pain if Saudis sink global oil prices

    Mikhail Krutikhin, a Russian energy analyst based in Norway, said Saudi Arabia's possible move posed "an enormous risk" for Moscow's state budget, because of its overwhelming dependency on oil revenues. And it's just one of several unpredictable factors on the horizon, including the U.S. presidential election. "So we have to sit back now and wait — stock up on the popcorn," he said. Saudi Arabia "understands perfectly well that Russian companies do not comply with the demand to reduce production, so they are making their own plans," Krutikhin added.

  • Saudi FM, Iranian president hold meeting in Doha

    Iran’s President Masoud Pezeshkian received on Wednesday in the Qatari capital Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan, the Saudi Press Agency said. The pair discussed the latest regional and international developments. Senior Saudi and Iranian officials attended the meeting.

  • Saudi Arabia’s Quantum raises investment from HearstLab

    Quantum, Saudi Arabia’s leading adtech and data platform that connects advertisers with publishers, announced today that it has secured funding as part of its $7 million Pre-Series-A round from HearstLab, the investment arm of Hearst Corporation dedicated to scaling early-stage, women-led tech startups. This marks HearstLab’s inaugural investment in the Middle East and underscores the rapid growth of Saudi Arabia’s tech ecosystem.

  • Palestinians See U.S. Response to Gaza as Failure

    In surveys conducted in July and August, Palestinians living in the West Bank and East Jerusalem were asked to what extent they agree that “the U.S. has made acceptable efforts to push for the safeguarding of civilians in Gaza.” Seven in 10 Palestinians surveyed (69%) strongly disagree, while 76% disagree overall. About one in 10 (11%) agree that the U.S. has done enough to protect civilians.

  • Diversions, disruptions: aviation grapples with Middle East escalation

    Rising tensions in the Middle East have created air travel chaos, with global airlines diverting or cancelling flights on Wednesday and regional airports, including Lebanon, Israel and Kuwait, showing long delays, according to FlightRadar24 data. Concern over travel disruption as the conflict intensifies also knocked shares in the travel and airline sectors. Iran launched its largest missile attack against Israel on Tuesday in retaliation for Israel's campaign against Iran-backed Hezbollah in Lebanon, prompting a threat from Israel of a "painful response".

  • Middle East again on edge after largest aerial attack ever launched against Israel

    Iran called these strikes a — quote — "legal, rational and legitimate response" to last week's strike that a U.S. senator said he used 2,000-pound American bombs to kill Hezbollah leader Hassan Nasrallah. Last night, Israel followed his death with its first conventional ground incursion into Lebanon in nearly 20 years. It also acknowledged hundreds of raids into Lebanon since last November, the country's largest special forces operation in history. Today, the military showed off the Hezbollah weapons that it captured that had threatened Israeli towns along the border.

  • Israel plans massive Iran payback with Middle East on edge

    Israeli officials staring down all-out regional war tell Axios Israel will launch a "significant retaliation" to Tuesday's massive missile attack within days that could target oil production facilities inside Iran and other strategic sites.Many Israeli officials point to Iran's oil facilities as a likely target, but some say targeted assassinations and taking out Iran's air defense systems are also possibilities.

  • Oil prices jump more than 3% as Middle East tensions escalate

    Oil prices climbed more than 3% on Wednesday on rising concerns that Middle East tensions could escalate, potentially disrupting crude output from the region, following Iran's biggest ever military blow against Israel. Brent futures reached their highest in a month, leaping $2.42, or 3.3%, to $75.98 a barrel. U.S. West Texas Intermediate (WTI) crude spiked $2.47, or 3.5%, to $72.30 at 1050 GMT. Both crude benchmarks on Tuesday surged more than 5% before closing around 2.5% higher.