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  • Saudi Arabia’s 2013 Budget – Jadwa
     

    Budgeted spending is at another all-time high in 2013, as the government continues with its program to upgrade the human and physical infrastructure and spurring economic growth. One highlight of the Ministry of Finance (MoF) budget announcement is the 18 percent jump in revenues. With no new initiatives announced, we think this is a sign […]

     
  • ‘Expansionary’ Saudi 2013 Budget Provides for Record Spending on the Back of 2012 Surplus
     

    A recently released report by Jadwa Investment on Saudi Arabia’s 2013 budget highlights the Saudi government’s plans for record spending to sustain the Kingdom’s economic expansion next year.

     
  • Nitaqat: Towards a Saudi “New Deal?”
     

    Editor’s Note: ‘Saudization’ is a topic that has garnered a great deal of front-page ink in Saudi Arabia of late.  The Nitaqat (“Ranges”) Program introduced in 2011 has staunch advocates and detractors and the ongoing argument between members of the private sector and the Ministry of Labor over recent fee hikes for foreign employees has been […]

     
  • 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.

     

MUST-READS

  • Global Economic Growth Slows Amid Gloomy and More Uncertain Outlook

    Under our baseline forecast, growth slows from last year’s 6.1 percent to 3.2 percent this year and 2.9 percent next year, downgrades of 0.4 and 0.7 percentage points from April. This reflects stalling growth in the world’s three largest economies—the United States, China and the euro area—with important consequences for the global outlook.

  • Saudi Arabia to cut charges across its major airports by 35%

    The 35% reduction in charges will come into effect at airports in Riyadh, Jeddah and Damman by the end of 2022. The reductions will apply to King Khalid International Airport in Riyadh, King Abdulaziz International Airport in Jeddah and King Fahd International Airport in Dammam.

  • Dubai crown prince to lead new committee on metaverse, digital economy

    Dubai has created a new committee to deliver on its aim to become a global hub for futuristic technologies. The Higher Committee for Future Technology and Digital Economy will be chaired by Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum.

  • Exclusive: US and Taliban make progress on Afghan reserves, but big gaps remain

    Significant differences between the sides remain, however, according to two of the sources, including the Taliban's refusal to replace the bank's top political appointees, one of whom is under U.S. sanctions as are several of the movement's leaders.

  • Iran says it detains Israel-linked network planning sabotage

    "This network's members were in contact with (Israel's) Mossad spy agency through a neighbouring country and entered Iran from (Iraq's) Kurdistan region with advanced equipment and strong explosives," the ministry said in a statement carried by state media.

  • Saudi Arabia Concludes its Participation at Farnborough International Airshow

    Complimenting this Saudi Pavilion participation, were several key strategic announcements made by Saudi Arabia, chief of which was the announcement on the defense sector localization rate, which soared from 2% in 2018 to 11.7% in 2021. A multitude of defense platforms and capabilities were localized over this period, all contributing to enhancing operational readiness and strategic autonomy, through strategic and sustainable partnership building. The overarching goal: localizing more than 50% of expenditure on defense equipment and services, by the year 2030.

  • Saudi Arabia and Iraq Come to the Aid of Europe’s Oil Refiners

    Saudi Arabia and Iraq are diverting more and more of their crude oil toward Europe, helping the continent’s oil refineries to overcome a pivot away from Russia. More than 1 million barrels a day of crude has made its way to Europe from the Middle East in the first thrtee weeks of July via a pipeline that crosses Egypt, according to vessel-tracking data compiled by Bloomberg. Volumes have roughly doubled from a year ago.

  • World Bank to fund $100 million in food insecurity aid to Sudan through WFP

    The World Bank has agreed to provide the U.N.'s World Food Programme with $100 million for an “emergency safety net project” to address food insecurity in Sudan, it said in a statement on Thursday. The programme, whose funding comes from the European Union, United Kingdom, Saudi Arabia and several other Western nations, aims to provide 2 million Sudanese with cash transfers and food.

  • Oil to fuel growth in Gulf economies this year, but will not sustain pace in 2023

    Around 80% of common contributors, 15 of 19, upgraded their growth outlook for the country, while three kept it unchanged, and one downgraded. Growth was expected to fall to 3.3% next year and 2.8% in 2024. Among other GCC economies, expected growth in Kuwait would be 7.0% this year, and in the United Arab Emirates at 5.7%, the fastest in around a decade. Qatar and Oman are both forecast to grow 4.5%, the quickest in half a decade, whereas Bahrain is at 3.5%, the fastest since 2017.

  • Cameras to replace peacekeepers at strategic Red Sea strait

    Remote-controlled cameras will take over responsibility from U.S.-led peacekeepers for ensuring international shipping retains freedom of access to the Gulf of Aqaba, whose coastline is shared by Israel and three Arab nations, officials said. Tiran island, which lies in the straits of the same name at the mouth of the gulf, was handed to Saudi Arabia from Egypt along with next-door Sanafir island in 2017.