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Knight Frank’s Faisal Durrani on real estate trends in Saudi Arabia, the Saudi economy has a big 2Q, and more…
Episode 55! The 966 welcomes Faisal Durrani, Partner and Head of Middle East Research at Knight Frank, the London-based global real estate consultancy. Knight Frank just released two reports on Saudi Arabia’s commercial and residential real estate sectors, providing unique insights into one of the world’s fastest growing real estate markets. Faisal joins The 966 […]
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Report: Saudi, UAE Save Remaining Spare Capacity for Potential Winter Supply Crisis
According to a report in Reuters, OPEC+ production leaders Saudi Arabia and the United Arab Emirates stand ready to deliver a “significant increase” in oil output “should the world face a severe supply crisis this winter,” sources familiar with the thinking of the top Gulf exporters told Reuters in an exclusive report.
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Crown Prince Mohammed bin Salman, UAE’s Sheikh Mohamed bin Zayed Meet in Kingdom
The Crown Prince of Abu Dhabi Sheikh Mohamed bin Zayed visited Riyadh on Monday on an official visit to the Kingdom to meet with Crown Prince Mohammed bin Salman and discuss bi-lateral relations amid recent differences on energy and foreign policy.
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Oil Demand Soars in 2021, Expected to Grow Further as Market Reacts to Reported Saudi-UAE Agreement
Global demand for oil is soaring in 2021 as the world rebounds from the pandemic year, according to OPEC data and shared by Riyadh-based Jadwa Investment in an oil market update.
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UAE, Saudi Arabia to form new ‘Joint Cooperation Committee’
The United Arab Emirates on Tuesday announced it has formed “a new economic and partnership group” that is a “joint cooperation committee” with Saudi Arabia, separate from the Gulf Cooperation Council, in a move that further emphasizes Saudi-UAE alignment amid a diplomatic crisis with member state Qatar. The Emirati Foreign Ministry announcement was made just hours ahead of a […]
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Perspective: Saudi-UAE Differences Cloud Prospects for Regional Security and Conflict Resolution
Perhaps calming fears among some U.S. officials that a wider MBS – MBZ rift would complicate U.S. efforts to deter and counter Iran, both leaders continue to work closely with the United States to develop integrated air and missile defense (IAMD) for the Gulf and to counter Iran’s threats to Gulf security. And officials of both countries have sought to counter Western assessments that their differences will widen into a more open breach. In separate statements to The Wall Street Journal in July, a UAE official speaking for the government said claims of strained relations were “categorically false and lack foundation,” and a Saudi official called the idea “simply not accurate.”
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Opinion: Fraying Saudi-UAE Ties Put U.S. Objectives at Risk
In 2021, it was the economic competition between them that took centerstage. MBZ accelerated the process of ending the UAE’s geopolitical disputes — notably with Turkey and Syria — to focus on economic challenges at home. MBS, likewise, stepped up his quest to make Saudi Arabia the Arab Peninsula’s leading destination for business and investment.
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Saudi-UAE travel interest rockets 1,700 percent
Travel interest between Saudi Arabia and the UAE has increased massively since the Kingdom removed its travel ban on the UAE. Regional OTA Wego has seen a 1,700 percent increase in flight searches from Saudi to the UAE in the first two days since the announcement.
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Saudi-UAE Spat Is Not Over Despite OPEC+ Deal
“Widespread surprise at the seemingly sudden disagreement between Abu Dhabi and Riyadh is rooted in misapprehension about the relationship between the two countries in recent decades. It has been a common assumption that the UAE and Saudi Arabia have effectively indistinguishable worldviews and interests – that the UAE is sort of an appendage or dependency of Saudi Arabia. That has never been the case,”
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Trucks Stuck as Saudi-UAE Competition Spreads to Trade
Trucks are lined up for hours at the border between Saudi Arabia and the United Arab Emirates as some international manufacturers find their goods snarled up in a deepening economic rivalry that’s raised the cost of doing business and complicated growth plans. Saudi Arabia, the UAE’s fifth-largest trading partner, has imposed new rules excluding items made in free zones from preferential tariff arrangements meant to facilitate the free flow of goods within the six-member Gulf Cooperation Council.
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The Saudi-UAE Race for Hydrogen: A Play for the Renewables Narrative, Not Profits
However, the case for hydrogen still rests on completely theoretical technologies. It is just as likely that the global approach toward the final 15% will be simply to let those sectors pollute and force the rest of the economy to bear the load of saving the planet. In any case, it is unlikely that this notional 15% of energy demand will be filled entirely by hydrogen.
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Saudi-UAE Military Officials Review Arab Coalition Operations in Yemen
While pro-government forces continue to push onwards in battlefield advances against Houthi militias in Yemen’s strategic governorate of Marib, a Saudi-UAE military meeting on Thursday examined Arab Coalition operations backing the Yemeni Army.
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Saudi-UAE deal to be a bullish catalyst for oil
"We believe that risks to our bullish oil price forecasts are skewed to the upside, with the catalyst for such a move higher shifting from the demand to the supply side."
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Trade emerges as latest flashpoint in deepening Saudi-UAE rivalry
The levies, which came into force this month, range from 3 to 15 per cent and apply to products made by any company based in its Gulf neighbours whose workforce does not include 10-25 per cent of that country’s nationals. Riyadh said the move was aimed at stopping its industries from being undercut by cheap foreign labour.
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Saudi-UAE still at impasse as Russia steps in to rescue OPEC+ deal
Russia is leading efforts to close divisions between Saudi Arabia and the United Arab Emirates to help strike a deal to raise oil output in coming months, three OPEC+ sources said, with OPEC and its allies yet to set a date for their next oil policy meeting. Disagreement between the two Gulf OPEC allies was publicly exposed last week, with Riyadh and Abu Dhabi at odds over a proposed deal that would have brought more oil to the market -- potentially cooling a rally that has seen prices hit 2-1/2 year highs.
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