IMF: ‘The Redistribution of Oil Wealth Through Government Jobs and Generous Subsidies is No Longer Sustainable’

There is reason to believe that, as a results-oriented businessperson, Donald Trump will “get” what the Saudis are trying to do with reforms, Field writes.
"The challenge, therefore, is to develop a new model of economic growth that is both resilient and inclusive. In particular, there is a need to reduce the dependence on oil and generate private sector jobs for the rapidly growing labor force," the IMF said.

Saudi Arabia

News, analysis, and more

Saudi Privatization

With $300bn on the table, Saudi Arabia gets ready for sale of the century

If Saudi Arabia gets this right, it will transform the economy, business culture and society of the Kingdom in a profound way by putting large ...


Saudi Aramco IPO

Efforts To Make Aramco’s IPO Attractive To Investors Intensifies

As the companyprepares the IPO to make it attractive to investors, the huge discrepancies in evaluations are making things difficultbecause foreign investors tend to be ...


International Debt

Saudi finance minister says likely to tap foreign, local bond markets again this year

He told an investment conference that the state budget deficit would be funded with three streams - international debt, local debt and drawing down the ...


Motiva Split

Shell completes sale of Motiva assets to Saudi Aramco

Saudi Aramco (through its wholly owned Saudi Refining, Inc. subsidiary) assumes full ownership of the Motiva Enterprises LLC name and legal entity, including the refinery ...



Billionaire Saudi Family to Hire Saudi Fransi for IPO

Olayan Financing Co., which controls the family’s investments in the Middle East, may set up a new holding company for as many as 20 of ...


Vision 2030

IMF Says More Reforms Still Needed by Mideast Oil Exporters

IMF says oil exporting countries in Mideast continue to have world's largest energy subsidy bill. ...


Made'in Saleh

Mada’in Saleh in Saudi Arabia is an archaeological wonder

Built in the 1st century B.C. to the 1st century A.D., Mada'in Saleh — known as Hegra to the Nabataeans — features monumental-sized tombs carved ...


Red Sea

Potential for Saudi Arabian coral reefs to shine

Marine surveys estimating fish population density and diversity are crucial to our understanding of how human activities impact coral reef ecosystems and to our ability ...



WWE Is Launching A Localized Weekly TV Show In Saudi Arabia

The latest target for WWE’s international reach is Saudi Arabia. The company announced that beginning this week, there will be a new, Arabic show on ...


Ideological War Center

Saudi Ideological War Center launches initiatives to fight terrorism

The Ideological War Center (IWC), a subsidiary of the Saudi Arabian Ministry of Defense, is launching extensive plans to fight extremism and terrorism, the ministry ...


Cyber Security

60 million cyber attacks targeted Saudi Arabia in one year

The Director of the National Center for Cyber Security at King Abdulaziz City for Science and Technology, Dr. Basel Alomair, said Saudi Arabia was subjected ...


Prince Mohammed bin Salman

Al Arabiya to air Saudi Deputy Crown Prince interview this evening

TV presenter Dawood al-Sharyan will host Deputy Crown Prince Mohammed Bin Salman on Tuesday at 8:00pm KSA time on Al Arabiya Channel. ...



Saudi Arabia, Germany agree to set up $200m fund for women empowerment

German Chancellor Angela Merkel invited King Salman to attend the G20 summit in Germany after holding wide-ranging consultations on the agenda of the summit in ...


Banking and Finance

Investcorp Appoints Ex-Morgan Stanley Banker as Saudi Arabia CEO

Investcorp Bank BSC, the Bahrain-based private equity firm, appointed former Morgan Stanley banker Gabriel Aractingi as chief executive officer for its business in Saudi Arabia. ...


Saudi +

Regional and related topics

Muslim Country SWFs

Capital Markets of the Muslim World: The Paradox Within

A list of the top 30 sovereign wealth funds (SWFs) shows at least half originating from Muslim countries. Of all the world’s SWFs, 41 percent ...


Syria Chemical Attack

The Syrian Government’s Widespread and Systematic Use of Chemical Weapons

All available evidence strongly suggests that on April 4, 2017, a Syrian government warplane attacked Khan Sheikhoun, a town in the northwestern governorate of Idlib, ...



Taliban controls or contests 40 percent of Afghan districts: SIGAR

The Taliban controls 11 districts and influences 34 of Afghanistan’s 407 districts (11 percent), while the Afghan government controls 97 districts and influences 146 (60 ...


Stranger than Fiction

Rogue FBI employee married ISIS terrorist

An FBI translator with a top-secret security clearance traveled to Syria and married a key ISIS operative she was investigating, court records show. ...


Assassination in Istanbul

Who killed exiled Iranian TV executive in Istanbul?

Saeed Karimian, the owner of a popular Dubai-based, Persian-language satellite channel, was gunned down in Istanbul on April 29. Karimian’s GEM TV, which airs dubbed ...



Kurdish forces ‘take 90 percent’ of Syria’s Tabqa

US-backed forces say they have advanced in Tabqa as they eye the ISIL stronghold of Raqqa, a spokesperson says. ...



Islamic State seeks to impose religious rules in Egypt’s North Sinai

As the militant group steps up attacks on Coptic Christians, it is also trying to assert hardline religious authority in the remote area near Egypt’s ...



New Hamas policy document ‘aims to soften image’

It declares for the first time a willingness to accept an interim Palestinian state within pre-1967 boundaries, without recognising Israel. ...


Press Freedoms

UAE blocks the Huffington Post

The Huffington Post Arabic language edition website has been blocked by the UAE authorities as the government tightens its control over the dissemination of information. ...


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