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Last month’s announcement by the Saudi Arabian Capital Markets Authority that it would open its long-closed equity markets to international investment was a landmark moment. It will give access to a market with a capitalisation of US$590 billion – about the same as Russia’s, and representing half of the entire Gulf region.
Afghan officials began the final stage of a drawn-out review of the presidential runoff vote on Monday as pressure mounted for a resolution to a dispute that threatens the country’s stability and the future presence of U.S. forces.
The chief executive officer of Saudi Aramco, the world's biggest oil producer, said Monday that worries such as rising oil-sector costs and global turmoil could lead to a lack of oil supplies down the line, if oil companies fail to make sufficient investments.
Two years ago, a University of Southern California student named Walid Abdul-Wahab was visiting his native Saudi Arabia during the holy month of Ramadan when he noticed that everyone seemed to be drinking raw camel’s milk. The beverage is considered to be a favorite of the Prophet Muhammad's, according to Wahab, and during Ramadan, many Muslims try to walk in the Prophet’s footsteps. They might not have many other options: Because of refrigeration issues, the only cow’s milk he could find there was powdered.
The Kingdom has been struggling to bring down the unemployment rate among nationals – estimated at around 11.4 per cent, with economists saying that just 30 to 40 per cent of the working age adults participate in the workforce.
The shortage of housing ranks high among the list of many other concerns. A rising gap between what is available on the market and what most Saudis can afford has left many frustrated home-seekers on the edge. A shortage of low- and middle-income targeted housing means millions of Saudis cannot afford to buy a home. Young Saudis are especially affected since it takes years of saving before many can afford to buy a home, often a precursor to marriage.
Saudi Arabian firm, Bateel, hopes that by providing an international flavor to their offerings they will be able to further entice customers to their branded stores and cafes across the Middle East.
New research examines the effects of Ramadan, the Muslim holy month during which millions of people around the world go without food all day. Does religious practice affect economic growth?
Crude oil sales through non-governmental channels are a rising trend in the Middle East, with Islamic State of Iraq and Syria (ISIS) radical fighters and Iraqi Kurdistan getting in on the action, experts say.
Business Monitor International has released a new report, ‘Saudi Arabia Oil & Gas Report Q3 2014’, in which it indicates the view that crude production in the country will remain elevated by historical standards in 2014 and 2014.
