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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

  • Middle East maintains IPO momentum into 2023, EY says, despite slowdown

    Middle East companies raised nearly 16% of the total proceeds from initial public offerings (IPOs) globally in the first quarter, as the region's momentum from a blockbuster 2022 continued, consulting firm EY said on Wednesday. Companies in the region raised $3.4 billion in the first quarter from 10 IPOs. That included a $2.5 billion listing by ADNOC Gas, a unit of Abu Dhabi's state oil giant, which was the quarter's largest IPO globally. "MENA IPOs continue to go against global trends in these uncertain economic times, building on the momentum from last year," Brad Watson, EY's Middle East and North Africa (MENA) strategy and transactions leader, said in a statement.

  • Dubai Reefs: Inside the world’s largest artificial reef megaproject

    Dubai will soon be home to the world’s largest ocean community megaprojects – the Dubai Reefs. The project will help strengthen Dubai’s position as a leader in sustainable marine initiatives as well, according to a statement by Dubai Reefs developer URB. The upcoming floating community will feature facilities for marine research, regeneration, ecotourism, hospitality, retail, and education.

  • Despite Saudi-led mediation, peace in Sudan remains elusive

    Saudi Arabia on May 6 began hosting “pre-negotiation” talks between the Burhan-led Sudanese Armed Forces (SAF) and the paramilitary Rapid Support Forces (RSF), headed by Hemedti.

  • Saudi Leads MENA Region in International Tourism

    The expected influx of travelers this summer will be a result of the Kingdom's decision to raise the cap on the number of pilgrims who can perform Hajj this year - the first time since the outbreak of the COVID-19. “The tourism industry in the MENA region is set to continue its strong recovery during the upcoming summer months thanks to a combination of a significant increase in travel intent,” said Olivier Ponti, Vice President of Insights at ForwardKeys.

  • How Sudan’s paramilitary forces took parts of Khartoum, stormed army chief’s quarters

    Burhan, the de facto head of state, himself picked up an AK-47 rifle and opened fire before his security pulled him to safety, one of his bodyguards told Reuters, in previously unreported details of how close he came to being toppled, or killed, in those first days. More than 30 of his guards died in the ensuing battle, before the Rapid Support Forces (RSF) fighters retreated from the residence in the capital, said the bodyguard, who asked not to be named.

  • Lionel Messi’s father denies move to Saudi is done

    "There is absolutely nothing [in place] with any club for next season," he said in a statement on Tuesday. "The decision will never be taken before Lionel finishes the league campaign with PSG. - Stream on ESPN+: LaLiga, Bundesliga, more (U.S.) "Once the season ends, that will be the moment to analyse things and see what options there are and to take a decision.

  • The Saudi Tourism Authority Says LGBT+ Visitors Are Welcome In Saudi Arabia

    When you think of gay-friendly destinations, New York, San Francisco, the Netherlands and other such places come to mind. Now, in an effort to make to make the country palatable, the Saudi Tourism Authority (STA) says LGBT+ tourists are welcome. In the FAQ section of STA’S website, somebody inquired whether or not LGBT+ visitors were welcome in Saudi Arabia. The response was: “everyone is welcome to visit Saudi Arabia, and visitors are not asked to disclose such personal details.”

  • Saudi Arabia and Syria agreed to resume diplomatic missions: state media

    Saudi Arabia and Syria have resumed the work of diplomatic missions in both countries, according to state media, more than a decade after Riyadh cut ties over the Syrian government’s brutal handling of its civil war. “The Kingdom of Saudi Arabia decided to resume the work of its diplomatic mission in the Syrian Arab Republic,” the state-run Saudi Press Agency reported Tuesday. The announcement came two days after Syria was readmitted into the Arab League – despite repeated objections from the United States to ending the isolation of a regime that it holds accountable for the deaths of more 300,000 civilians and displacement of millions in the country’s civil war.

  • Analysis: Lionel Messi PSG Saudi Arabia Barcelona career crossroads

    Athletic careers are incredibly short, and soccer players should maximize their earnings to the best of their ability. It's a job with massive physical risk, and they're providing a ton of value to their employers. This frequently doesn't align with fan or media expectations for what an athlete should do -- aka "how a player should continue to write whatever story we all have in our minds" -- but that's just another one of the many contradictions of the world football economy.

  • In a first, NSAs of US, India and UAE hold meet in Saudi

    The US NSA said the “fundamental notion” behind the partnership was to “connect South Asia to the Middle East to the United States in ways that advance our economic technology and diplomacy”. “And we have already got a number of projects underway and some new exciting steps that we are looking forward to undertaking in the months ahead,” he said.