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  • Are Members of Royalty “Foreign Officials” Under the FCPA?
     

    For U.S. companies conducting business abroad, the Foreign Corrupt Practices Act (FCPA) is a constant companion.  The FCPA, “applies to any person who has a certain degree of connection to the United States and engages in foreign corrupt practices. The Act also applies to any act by U.S. businesses, foreign corporations trading securities in the […]

     
  • Saudi Is World’s Largest Market For Islamic Assets
     

    Saudi Arabia is emerging as the largest market for Islamic assets, according to a new report by Ernst & Young. According to the report, Saudi Arabia, with an estimated $207 billion of Islamic assets in 2011, was ranked first in the world. Malaysia was ranked second with total assets of $106 billion and UAE ranked […]

     
  • Riyadh at Night
     

    The population of Riyadh, the capital city of Saudi Arabia, has risen dramatically in the last half century—from 150,000 in 1960 to 5.4 million in 2012. The city appears as a brightly colored patchwork in this nighttime astronaut photograph. The brightest lights, apart from those on the old Riyadh Airbase, follow the commercial districts along […]

     
  • Saudi firms top TRENDS CEO 2012 List
     

    There have been several media reports in 2012 by regional and international media, including TRENDS, commenting on the immense growth seen by the Saudi retail and construction sectors. New entries and a rise through the top CEO ranks of Saudi cement companies is a testament to the vibrancy of the property and construction sectors in […]

     
  • Saudi Arabia, UAE set for clean energy revolutions
     

    Despite their vast oil reserves, Saudi Arabia and the UAE are poised for “green revolutions” set to transform the Gulf’s energy landscape. The two states have made major strides recently in using clean renewable energies. In the middle of oil-rich Abu Dhabi, a sandy stretch near the emirate’s airport is a field of solar panels […]

     
  • Jadwa Investment – December 2012 Saudi Chartbook
     

    Jadwa Investment’s Saudi Chartbook for the month of December 2012 assesses a number of key aspects of the Saudi economy including the real economy, bank lending, banking indicators, inflation, trade, oil, exchange rates, the TASI (Saudi Stock Market), sectoral performance, and more. A summary of the report is provided for your consideration below, and the […]

     
  • AME Info’s series on doing business in Saudi Arabia: a guide to the guide
     

    AMEinfo, based in Dubai’s Media City, is a well-known provider of business news and information covering the Gulf and larger Middle East.  Founded in 1993 it was acquired by London-based Emap Communications in July 2006.  Emap also owns MEED. The AME info site now claims over two million readers monthly.

     
  • The emergence of Google
     

    Saudi Arabia is one of the biggest Internet markets not only regionally but also globally. There are 190 million video views on YouTube in Saudi per day. That’s the highest number of YouTube views in the world per Internet user. The average user in Saudi watches three times as many videos a day compared to […]

     
  • Saudi Arabia All Atwitter
     

    Twitter and YouTube have become so relevant to the public discourse in Saudi Arabia that there is now a bi-weekly YouTube show solely dedicated to what Saudi users of Twitter are talking about. The new show is simply called “What Happened in Twitter” and the first episode was published today.

     
  • Saudi non-oil sector to expand 6% in 2013
     

    Saudi Arabia shows some tightness in the local financial system, reflecting a scarcity of corporate deposits, but this appears to be abating and might in any case reflect strong investment growth in the non-oil economy. Local firms continue to report strong growth in new orders, with exchange rate movements helping make non-oil exports more competitive. […]

     

MUST-READS

  • Saudi: New Fundraising Law to curb irregular fundraising practices and illicit financial activities

    The National Center for Non-Profit Sector (NCNPS) announced that the Fundraising Law, approved by the Saudi Cabinet on Tuesday, is designed to govern fundraising activities for non-profit organizations and the campaigns they undertake. The law aims to guarantee that donations are used for their designated purposes, and thus safeguarding non-profit organizations and donors from irregular fundraising practices and illicit financial activities.

  • Saudi Aramco Seeks More China Deals in Oil-to-Chemicals Push

    The world’s largest crude exporting company is targeting additional facilities that can turn oil into chemicals, Chief Executive Officer Amin Nasser said. Aramco sees demand for goods such as plastics outlasting the growth in consumption for gasoline and diesel amid the energy transition. “We are looking currently at a number of investments in China that will be announced in due course this year and next year,” Nasser said on an earning call Tuesday. He also mentioned South Korea and India as potential investment destinations.

  • Saudi Arabia’s Dammam port sets record with 20,645 containers handled on single ship

    The King Abdulaziz Port in Dammam has achieved a remarkable milestone, setting a new record for container throughput on a single vessel. The port handled a 20,645 TEUs on the COSCO SHIPPING AQUARIUS 036E, underscoring its pivotal role in supporting trade and the logistics sector.

  • Halo Space Plans Next Test Flight in Saudi Arabia

    Halo Space, a space tourism firm, will reportedly conduct its next test flight in Saudi Arabia. The test, scheduled for September, will feature a life-size prototype capsule named Aurora. This flight will reach an altitude of 30 km above Earth. This will be Aurora’s sixth test flight, a collaboration with the Kingdom’s Communications, Space, and Technology Commission (CST). The test flight aims to validate all critical systems developed over the past three years. Alberto Castrillo, the chief technology officer at Halo Space, stated that the chosen dates and location ensure reliable equipment operation and safe conditions for ground teams.

  • Improved labor laws benefit Saudi workers

    Saudi Arabia has enacted amendments to its labour laws to establish more clarity on hiring and firing and improve employee rights. The regulations, which cabinet approved on August 6, will “enhance job stability, protect the rights of all parties involved in employment contracts and increase job opportunities for Saudi citizens”, the state-owned Saudi Press Agency said. Among the new regulations, maternity leave has been set at 12 weeks, trial periods for new employees are fixed at 180 days, and notice periods for employees are locked in at 30 days and for employers at 60 days.

  • Oracle’s second cloud region in Saudi Arabia to help kingdom harness AI’s full potential

    Oracle has opened its second cloud region in Saudi Arabia, giving a boost to Riyadh's digital transformation strategy, as it aims to help the kingdom's economy harness the full potential of artificial intelligence. The move, part of a $1.5 billion investment commitment announced by the US technology company in the Arab world's biggest economy, will help public and private organisations migrate to the cloud, Texas-based Oracle told The National on Tuesday.

  • Saudi PIF Has Poured $750 Million Into Depleted AR Firm Magic Leap

    Magic Leap, which has raised at least $3.5 billion, said it needs additional funds later this month and again in January and June 2025 “to meet its obligations as they fall due,” according to a company report filed in the UK. The firm has a “realistic expectation” of getting the funding from an unnamed investor, according to the filing from its European operations.

  • Saudi Aramco Sees Oil Demand Rising by 1.6 Million Bpd in Second Half of 2024

    Global oil demand is expected to rise by between 1.6 million and 2 million barrels per day (bpd) in the second half of the year, Saudi Aramco’s chief executive Amin Nasser said on Tuesday, noting that the past week’s selloff in oil doesn’t reflect fundamentals. Aramco sees total global oil demand at 104.7 million bpd for the full-year 2024, the top executive of the world’s largest oil company said on the second-quarter earnings call.

  • Saudi Aramco to Return $31 Billion to Shareholders, Government Despite Profit Dip

    Saudi Arabia's national oil company on Tuesday posted a quarterly net profit of $29.07 billion, down from the $30.83 billion it reported for the same period last year, after it sold less crude oil and its refining margins weakened, offsetting robust oil prices in the quarter.

  • ACWA Power to commission 2.6 GW of Saudi solar projects by end-2024

    Saudi Arabia’s ACWA Power Co (TADAWUL:2082) will commence operations in the second half of 2024 for four domestic solar projects with a combined capacity of 2,620 MW and a total investment of SAR 11.5 billion (USD 3.06bn/EUR 2.81bn).