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  • Jadwa: Inflation Report, April 2012
     

    Year-on-year inflation dipped to 5.3 percent in April from 5.4 percent in March. Lower food price inflation was the main reason for the decline. Rental inflation picked up.

     
  • Not a Drop to Drink: The Global Water Crisis
     

    In the next twenty years, global demand for fresh water will vastly outstrip reliable supply in many parts of the world. Thanks to population growth and agricultural intensification, humanity is drawing more heavily than ever on shared river basins and underground aquifers. Meanwhile, global warming is projected to exacerbate shortages in already water-stressed regions, even […]

     
  • Petchem projects lead Saudi industrialization drive
     

    The Saudi project market continues to thrive. Latest data from Meed put the value of projects “planned or underway” at $745 billion in mid-April, around 13 percent higher than a year earlier. These figures need to be treated with some caution: The topline number is some 30 percent larger than the nominal size of the […]

     
  • Journey of a lifetime
     

    To say that I was excited to be in the presence of such history would be an understatement. I had been looking forward to this trip for months and was absolutely beside myself. My purpose was to travel with my mother to Saudi Arabia to perform the Umrah, a mini version of the annual Hajj […]

     
  • Al-Qaida’s wretched utopia and the battle for hearts and minds
     

    Driving east out of Aden, we were just a few hundred metres past the last army checkpoint when we saw the black al-Qaida flag. It flew from the top of a concrete building that had been part-demolished by shelling. From here into the interior, all signs of control by the government of Yemen disappeared. This […]

     
  • Positive Steps: Interview with Saudi Minister of Finance Al Assaf
     

    The industrial sector is the real excitement for us, which is growing at a rate of 15 per­cent, which is not a joke. The other one is service sector, like the financial services or the restaurant and hotels or other services in the economy. A particular sector that we are excited about is the mineral […]

     
  • “Milestone” oil manipulation case unsettles traders
     

    U.S. regulators’ $14 million settlement with high-frequency trading firm Optiver over oil price manipulation in 2007 is a “milestone” victory in their toughening stance on market malfeasance which is being closely watched by traders. In its first major case against an algorithmic trader, the Commodity Futures Trading Commission said late on Thursday that a court […]

     
  • Home boom aids Saudi Telecom profit surge
     

    Soaring demand for broadband helped Saudi Telecom Co (STC) post a 60 percent increase in first-quarter profit on Wednesday, with the former monopoly reporting rising revenues in its mobile, fixed line, corporate and wholesale units. The former monopoly, which will pay a quarterly dividend of 0.5 riyals per share, made a profit of 2.52 billion […]

     
  • Saudi tops in job creation in GCC
     

    The Gulf region continued to create jobs despite the impact of Arab Spring in 2011 with the regional powerhouse Saudi Arabia topping the list followed by Qatar and Oman, according to a new survey. The oil and gas industry, healthcare and retail sectors enjoyed the largest headcount expansion in 2011, while banking and construction fared the […]

     
  • Chart of the Day: A Short History of 200 Years of Global Energy Use
     

    If you want to tell the story of worldwide energy consumption over the past 200 years, you need three chapters. Chapter 1: The Coal Age. Chapter 2: The Oil Age. Chapter 3: The China Age. In the early days of industrialization, the use of biofuels such as wood declined as the West learned to live […]

     

MUST-READS

  • Saudi Arabia to invest $100m in training 100,000 young people for tourism

    Participants in the program are set to benefit from training scholarships at leading global institutions in France, Spain, Switzerland, the UK, Australia, and Italy. Applications will be accepted not only from fresh graduates, but also from Saudis who already work within the industry and those who aspire to start a career in the tourism, hospitality, culinary, service, and sales fields.

  • Saudi Arabia Offers Airlines Incentives To Launch Unprofitable Routes

    Under the program, a deal has already been signed with Saudia to operate flights to Zurich and Barcelona. It is not yet known which other routes will be targeted. Tourism minister, Ahmed Al Khateeb, confirmed the incentive plans, stating, “The main purpose is to create direct flights to our main target markets. The program will compensate airlines to cover their losses from flying direct flights to these very important hubs for us.”

  • Oil prices on track for weekly gain amid high U.S. demand

    Oil rose on Friday and was on track for another weekly gain supported by solid fuel demand in the United States, although fresh COVID-19 alerts in Shanghai and Beijing curbed gains. Brent crude was up 98 cents, or 0.8%, at $124.05 a barrel at 1153 GMT and U.S. West Texas Intermediate crude rose 82 cents, or 0.7%, to $122.33 a barrel.

  • Russia Seeks Buyers for Plundered Ukraine Grain, U.S. Warns

    American diplomats have alerted 14 countries, most in Africa, that Russian ships filled with stolen Ukrainian grain could be headed their way, posing a dilemma to countries facing dire food shortages.

  • Turkey struggles to push Russia, Ukraine into grain deal to avert food crisis

    Turkish efforts to ease a global food crisis by negotiating safe passage for grain stuck in Black Sea ports met resistance as Ukraine said Russia was imposing unreasonable conditions and the Kremlin said free shipment depended on an end to sanctions. The war between Russia and Ukraine, the world's third and fourth largest grain exporters respectively, has added to food price inflation and put global food supplies at risk.

  • Freeport LNG plant blast adds to strain on global supplies

    Freeport LNG, operator of one of the largest U.S. export plants producing liquefied natural gas (LNG), will shut for at least three weeks following an explosion at its Texas Gulf Coast facility, raising the risk of shortages especially in Europe. Freeport LNG, which provides around 20% of U.S. LNG processing, disclosed the shutdown late on Wednesday after appraising damage to the massive facility.

  • Ministry of Hajj: Main domestic Hajj applicant can add 15 companions

    The Ministry of Hajj and Umrah has clarified on Wednesday that the main domestic Hajj applicant can add 15 companions in his application to perform the annual pilgrimage. “The registration for Hajj alone or along with companions will not affect the result of the draw of lots for the individual for the upcoming Hajj,” the ministry said in a statement. The ministry had launched on June 3 the registration for domestic pilgrims for the Hajj of 2022.

  • U.S. Fails to Assess Civilian Deaths in Yemen War, Internal Report Says

    The report spans the Obama, Trump and Biden administrations, covering the period from 2015, when the war against the Houthis began, to 2021. It is the second major report by a U.S. agency that lays out government shortcomings in preventing civilian casualties in Yemen. In August 2020, the State Department inspector general issued a report that said the department had failed to take proper measures to reduce civilian deaths.

  • Saudi Tourism Ministry Launches Global Program to Train 100,000 Young Men, Women

    The Ministry of Tourism has selected the highest-rated institutes and educational institutions in the world based on their academic capabilities in the field of tourism and training, such as the Les Roches Marbella, Spain, Global Hospitality Education; SHMS Swiss Hotel Management School; Glion Institute of Higher Education; Cesar Ritz Colleges; Montreal Institute; ESSEC Business School; Ecole Hoteliere in Lausanne; European School of Economics (ESE); NSW Technical and Further Education, and Business and Hotel Management School (BHMS), Switzerland. Selected applicants to join the program will benefit from comprehensive training courses that will enable them to secure employment opportunities in the leading hospitality companies in the Kingdom.

  • Saudi Arabia to spend $100m to train 100,000 locals to join tourism sector

    Saudi Arabia has allocated $100 million to provide training for 100,000 people to work in the tourism and sustainability sector, as the Kingdom continues its steady journey to become a global tourism hub by the end of this decade, according to the tourism minister. While speaking at the 116th Executive Council of the United Nations World Tourism Organization, Ahmed Al-Khateeb revealed that Saudi Arabia is working to make the tourism industry more resilient and sustainable than ever.