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  • Saudi best in MidEast for doing business
     

    Saudi Arabia is the best country in the Middle East for doing business, according to a new study published by the World Bank. The Gulf kingdom, the world’s largest oil producer, was ranked 22nd globally in the ‘Doing Business 2013’ report, ahead of neighbour the UAE which placed 26th. Elsewhere in the GCC, Qatar came […]

     
  • The Saudi Economy: Still Shining
     

    A recently released October 2012 economic report by Jadwa Investment finds that a recent flow of data has been generally stronger than expected, and as a result of high oil production (which elevates the hydrocarbon sector growth to 6.1 percent for the year) Jadwa raises its projections for Saudi Arabia’s budget and current account surpluses. […]

     
  • Energy policy: What we need to talk about
     

    For starters, the United States is already over 80 percent (up from 70 percent a decade ago) self sufficient when it comes to energy production and use. We are routinely described as the Saudi Arabia of coal, and have the largest nuclear fleet in the world. We are the world’s largest natural gas producer and […]

     
  • Randa Hudome: How do I get my business over to the Middle East?
     

    In addition to featured speakers such as President Bill Clinton and Mr. Abdullah Alireza the recent C3 Summit in New York City presented a number of compelling panel discussions addressing commercial and trade issues related to doing business in the MENA region.

     
  • Saudi oil sales to U.S. robust despite refinery upsets
     

    Saudi Arabia appears to be keeping its pledge to ensure global markets are well supplied with oil, barely letting up in shipments to the United States even after two of its biggest refining customers suffered crippling glitches. A Reuters analysis of U.S. import data shows sales to the world’s top oil consumer have dipped less […]

     
  • Public policy considerations in Saudi Arabia’s new Arbitration Law
     

    We see plenty of coverage these days of Saudi Arabia’s growing economy; and justifiably so.  Expansionary government spending, elevated oil prices, a strong banking system, a maturing private-sector, increasing diversification, growing foreign investment and other factors contribute to an exciting period for Saudi Arabia. While elevated oil prices have fueled Saudi Arabia’s impressive recent growth, […]

     
  • Dubai and Saudi Chambers seek stronger ties
     

    To share expertise and best practice across the GCC region, Dubai Chamber of Commerce and Industry hosted a delegation led by the Council of Saudi Chambers at its head office recently. The group of 17 senior officials from various Saudi chambers of commerce, led by Omar A. Bahlaiwa, Secretary General of the Council of Saudi […]

     
  • Saudi market opening to take ‘a while’ as conditions debated
     

    Saudi Arabia — the largest, most liquid and yet least accessible stock market in the Arab world — is considering opening its stock market to foreign investors in a move that could help turn the local market into a regional trading hub. But when the kingdom will make its final decision on this proposal, which […]

     
  • Jadwa Investment: Shifts in Foreign Investor Flows and the TASI
     

    A recently released Jadwa Investment report discusses shifts in foreign investment in the Saudi stock market, also known as the TASI. “Big changes in foreign investment in the Saudi stock market tend to come ahead of moves in the TASI, meaning that local investors can benefit from tracking what foreign investors are doing. In six of the seven […]

     
  • High capital/solid profitability: Saudi banking system remains stable
     

    The outlook for Saudi Arabia’s banking system remains stable, says Moody’s Investors Service in a new Banking System Outlook. The key drivers of the outlook are (1) a benign operating environment; (2) low problem loan levels; (3) strong loss-absorption capacity, underpinned by high capital buffers and solid profitability; and (4) the sector’s stable, low-cost deposit […]

     

MUST-READS

  • Saudi Fisheries widens H1 2024 net loss to SAR 19.7M; Q2 at SAR 10.8M

    H1 2024 sales dropped 43%, primarily due to the decline in the wholesale and retail segments on supply challenges. The company reported a net loss at SAR 10.8 million for Q2 2024, compared to SAR 12.7 million in Q2 2023, on higher production costs and inclusion of fair value gains from the investment properties.

  • Saudi Arabia Date Production Covers More than Local Needs

    Riyadh emerges as the top date producer, contributing 436,112 tons annually, followed by Qassim with 390,698 tons. Madinah and the Eastern Region also make substantial contributions, producing 263,283 tons and 203,069 tons respectively.

  • Foreign Direct Investment in Saudi Arabia rises to $215 Billion

    These reforms have helped drive rapid investment growth, with gross fixed capital formation increasing by 74% from 2017 to nearly $300 billion in 2023.  Additionally, FDI stock increased by 61% from 2017 to 2023, reaching almost $215 billion in 2023, and FDI inflows have surged by 158%, jumping from $7.5 billion in 2017 to $19.3 billion in 2023.  These initiatives and developments, in addition to incentives, facilities, and enablers, have motivated investors to seek a positive, supportive, and stable investment environment, the Saudi Press Agency (SPA) reported.

  • Saudi Film Commission Revolutionizes Cinema Landscape with Significant License Fee Reductions

    The revised fee structure unveiled by the Film Commission reflects a strategic commitment to bolstering the film industry’s growth and vitality. By slashing licensing costs across different city categories, from “A” to “C,” the Commission aims to empower cinema enterprises, stimulate economic contributions, and foster cultural and creative diversity on the big screen.

  • Israel orders more Gaza evacuations after school shelter attack kills scores

    Israel expanded evacuation orders in Khan Younis in the southern Gaza Strip overnight, forcing tens of thousands of Palestinian residents and displaced families to leave in the dark as explosions from tank shelling reverberated around them. The Israeli military said it was attacking militants from the Hamas group - which administered Gaza before the war - who were using those areas to stage attacks and fire rockets.

  • China has spent at least $230 billion to develop its EV industry and ‘flood’ the market

    At least $230.8 billion between 2009 and 2023, according to new research from the Center for Strategic and International Studies (CSIS). Funding over the first nine years the Washington-based think tank examined came out to about $6.74 billion per year, before tripling for the following three years, and then spiking again from 2021 onwards.

  • Saudi Arabia’s $1T Bet on Tourism: Video

    Saudi Arabia is investing hundreds of billions of dollars in an effort to bolster the nation’s tourism industry. Anita Mendiratta, UN Tourism Special Advisor to the Secretary General, joins Bloomberg's Lizzy Burden on "Bloomberg: Horizons Middle East and Africa" to discuss the challenges facing the Saudi government, as well as tourism's impact on the local economy.

  • Sipchem to build new $189m Saudi petchem facility

    Saudi International Petrochemical Company (Sipchem) has awarded a $189 million contract to a South Korean contractor to build a new petrochemicals facility in Saudi Arabia. The project was won by SGC Engineering & Construction, an engineering, procurement and construction contractor, The Korean Economic Daily, a financial news outlet, reported. The deal involves the construction of an ethylene-vinyl acetate plant in Jubail Industrial City.

  • Saudi Arabia seeks to silence Neom project doubters with images and video

    The intention is that Neom will be completed by 2039. Many experts are skeptical of the plan, and more recently, there have been many media outlets reporting that the project has been scaled back considerably. There's so much conflicting information going around on the internet that there's no agreed-upon amount of scaling back that we could find.

  • Saudi Arabia makes significant moves in semiconductor sector with strategic investments

    To this end, the Kingdom has launched a billion-riyal investment fund dedicated to semiconductor companies and established the National Semiconductor Hub. At least 50 semiconductor design companies will be established in Saudi Arabia by 2030, supported by a deep tech venture capital fund exceeding SR1 billion ($266 million) as part of a new tech hub.