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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 Arabia launches cutting-edge air mobility initiative

    In an effort to redefine air travel and cargo transport, the General Authority of Civil Aviation (GACA) of Saudi Arabia released yesterday the "Enabling Advanced Air Transport in the Kingdom" initiative. The initiative promises to revolutionize the Saudi aviation sector, positioning it as a leader in Advanced Air Mobility (AAM) in the Middle East through sustainable and state-of-the-art technologies. The initiative comprises a spectrum of pioneering solutions, from unmanned aircraft systems to vertical take-off and landing (VTOL) aircraft. These advancements aim to enhance the safety, soundness, and sustainability of air transport, significantly accelerating the mobility of people and goods while addressing environmental concerns.

  • Schiattarella Associati’s digital art center in Saudi Arabia draws from Najdi architecture

    Schiattarella Associati has unveiled Diriyah Art Futures, a distinctive digital art ‘incubator’ in Saudi Arabia designed for exhibitions, education, and art production. Covering an area of 12,800 square meters, it is situated northwest of Riyadh, close to a significant historical and archaeological site in the Arabian Peninsula. The design approach of Schiattarella Associati emphasizes a connection with the surroundings, considering not only the physical characteristics of the context but also engaging with the cultural values and the memory of the location.

  • Asian Financial Forum: Hong Kong and Saudi Arabia agree to deepen collaboration between their financial markets on first day of annual event’s 17th edition

    A memorandum of understanding was signed between Saudi’s Financial Sector Development Program (FSDP) and Hong Kong’s Financial Services Development Council (FSDC). The FSDP was launched in 2018 with the aim of creating a diversified financial services sector in Saudi. The FSDC was founded in 2013 with the aim of further developing Hong Kong’s financial services industry. The agreement comes amid continuing efforts by the Hong Kong government over the past year to deepen financial ties with the Middle East.

  • Eid al-Fitr 2024: Students in Saudi Arabia to enjoy long vacation

    Students in Saudi Arabia will get to enjoy a long holiday this year to mark Eid al-Fitr, according to the education ministry’s academic calendar. The third academic semester will start on Sunday, March 3, and will end on Thursday, March 28, kicking off the Eid al-Fitr holiday.

  • Work permits and visas in Saudi Arabia: an employer’s guide

    Saudi Arabia is undergoing massive employment and digitization. It's phasing out of a sponsorship system and improving the overall employment ecosystem with modifications to the Labor Code and an ambitious Vision 2030.

  • Saudi Arabia commits to achieving highest global standards in terms of human rights

    Hala bint Mazyad Al-Tuwaijri, the president of the Saudi Human Rights Commission, has spoken of the Kingdom’s commitment to meeting the highest global standards in promoting and protecting human rights, as part of its Vision 2030. Al-Tuwaijri reiterated the goal in her opening statement to the Universal Periodic Review of the UN Human Rights Council in Geneva on Monday, the Saudi Press Agency reported.

  • Saudi Arabia enhances tourist experience with 1,500 new activities

    Saudi Arabia has introduced more than 1,500 activities for tourists in partnership with the private sector to improve their overall experience, said the CEO of the Saudi Tourism Authority. Speaking during the opening remarks of the second Saudi Tourism Forum in Riyadh, Fahd Hamidaddin underscored the Kingdom’s well-equipped resources required to realize its aspirations and goals, encompassing both natural and human components and support from trusted leadership.

  • Real estate prices in Saudi Arabia to rise by 40%: Al Rajhi Investment exec

    Real estate prices in Saudi Arabia are likely to rise by 25% to 40% in the coming period, Asharq News reported, citing Sales Director at Al Rajhi Investment Co. Hossam Ahmed.   On the sidelines of the Real Estate Future Forum, Ahmed said that premium residency is a unique opportunity for the real estate market. It can contribute to the sector’s growth in the coming period by more than 300%.   The Kingdom is currently experiencing a real estate boom, as more than 50% of real estate traffic is concentrated in Riyadh.

  • Saudi Arabia’s Wealth Fund Joins EM Rush to Tap Bond Market

    Saudi Arabia’s sovereign wealth fund raised $5 billion of high-grade bonds on Monday, the latest borrower to benefit from investors’ demand for emerging-market debt.

    The Public Investment Fund sold five-, 10- and 30-year senior unsecured notes in US dollars, according to a person familiar with the matter. Combined order books were above $27 billion, excluding joint lead managers’ interest, said the person, who asked not to be identified because they’re not authorized to speak about it.

  • Hapag-Lloyd to offer land transit through Saudi Arabia amid Red Sea disruption

    German shipping group Hapag-Lloyd (HLAG.DE), opens new tab will continue to route its vessels around the Cape of Good Hope until further notice due to Houthi attacks on vessels in the Red Sea, it said on Monday, after announcing it was introducing land corridors through Saudi Arabia to mitigate the impact on its business.
    "We continue to monitor and review the situation constantly. As soon as the situation changes, and it is safe again, we will route our vessels through Red Sea and Suez Canal," it said.