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  • PIF-Backed Red Sea Tourism Company Names High-Powered Advisory Board
     

    Saudi Arabia’s Public Investment Fund (PIF) has appointed an international advisory board of business, tourism and environmental figures for its Red Sea tourism development. The announcement follows the selection of a former director of London’s Canary Wharf business zone, John Pagano, as chief executive of the project, which will see resorts developed on 50 islands […]

     
  • The Cohen Group will Launch a Saudi Arabia Office, Company Says
     

    Global business advisory firm The Cohen Group announced today that it will launch an office in Riyadh, Saudi Arabia as the company focuses more on the region’s largest economy. The new office will “serve as the hub for the firm’s operations in the region,” the company said in a press release today. “Our decision to open a […]

     
  • Saudi oil production rises in August after surprise July drop
     

    Saudi Arabia’s crude oil production rose again in August following a surprise drop in production in July, according to reports. The Kingdom’s crude oil production in August rose to 10.424 million barrels per day compared to 10.288 million bpd in July, an OPEC source told Reuters. In June, Bloomberg reported that Saudi Arabia was planning to pump “a record […]

     
  • PIF Picks All-Star Investors for FII Advisory Board
     

    Saudi Arabia’s Public Investment Fund (PIF) has formed an advisory board of 11 top technology, finance and business executives that will provide strategic guidance on developing the kingdom’s Future Investment Initiative as a platform that attracts investment. The advisors include Masayoshi Son, the CEO of Japan’s SoftBank Group, Joe Kaeser, the president and chief executive of German industrial […]

     
  • IMF Raises Saudi Arabia GDP Forecast, Non-Oil Growth Gains Momentum; Vision 2030 Reforms Cited
     

    Even without a Saudi Aramco IPO, the Kingdom’s Vision 2030 economic and social reform blueprint is having an undeniably positive effect on the Saudi economy and growth, the IMF said. Real GDP growth is expected to increase to 1.9 percent in 2018, with non-oil growth strengthening to 2.3 percent, the IMF forecasted. Growth is expected […]

     
  • Saudi PIF in talks to invest in aspiring Tesla rival Lucid
     

    Saudi Arabia’s Private Investment Fund (PIF) PIF, is reportedly in talks to invest in aspiring Tesla rival Lucid Motors Inc, people familiar with the matter told Reuters on Sunday. A potential investment in the privately-held Lucid Motors presents the PIF an opportunity to own a controlling stake in an electric carmaker at a fraction of the cost of its rumored […]

     
  • Saudi Foreign Reserves Continue to Rise, Expected to Reach $536b by 2019 — Jadwa Investment
     

    SAMA FX reserves rose by $1.8 billion month-on-month to stand at $506 billion in June, a recently released report by Jadwa Investment said, noting that FX reserves have risen by $10 billion during the year so far. The Riyadh-based investment group expects a continued rise to reach $536 billion by the end of the year. Fahad Alturki, chief […]

     
  • S&P Dow Jones to Upgrade Saudi Stocks to Emerging Market Next Year
     

    Global equity index compiler S&P Dow Jones Indices will upgrade Saudi Arabia’s bourse to emerging market status from a stand-alone market next year, becoming the latest in a series of index firms to promote Riyadh, according to Reuters and a statement released on S&P Dow Jones’ website. S&P Dow Jones will “add major Saudi stocks to […]

     
  • MIT Professional Education Launches New Collaboration with Saudi Arabia’s Al Yamamah University
     

    MIT Professional Education is launching a new collaboration with Al Yamamah University (YU) aimed at “promoting diversity at institutions of higher education and supporting the country’s overall development and sociocultural evolution,” the prestigious university announced on its website. As part of the initiative, MIT Professional Education will “develop and teach professional education courses on leadership and innovation […]

     
  • Saudi, UAE, Kuwait to Support Bahrain Economy after Downturn
     

    Saudi Arabia, Kuwait and the United Arab Emirates will soon announce an “integrated program” to support Bahrain’s economic reforms and its fiscal stability, Reuters reports, citing a joint statement from the three Gulf states on Tuesday. Like other oil producing nations whose state finances are closely tied to oil prices, Bahrain’s economy was hit hard […]

     

MUST-READS

  • Iran
    Commentary: Is Iran Running Out of Patience With Nuclear Agreements?

    In a series of public and private appearances last week in New York—on the sidelines of a UN preparatory meeting for a 2020 review of the Nuclear Non-Proliferation Treaty (NPT)—Iranian Foreign Minister Javad Zarif made clear that Iran’s patience with the Trump administration and the international community may be coming to an end.

  • Quality of Living
    Transforming Riyadh: A New Urban Paradigm?

    All of these efforts resulted in massive urban sprawl and the domination of commercial uses alongside these highways, which significantly impacted life in the various neighborhoods.

  • Pakistan
    Can Pakistan′s Imran Khan reset ties with Iran?

    He was scheduled to meet with Iranian President Hassan Rouhani on Monday. Pakistani officials say the two leaders will discuss a range of topics, including an expansion of bilateral trade and the issue of militancy along the two countries' shared border.

  • Vision 2030
    Opinion: Is this Saudi Arabia’s Renaissance period?

    Eight hundred years ago, the Renaissance started in Florence, Italy, and spread throughout Europe. From 1350 to 1600, this cultural movement encompassed great changes in art, learning, literature, philosophy, politics, and science.

  • Israel Election
    Why did Arab voter turnout for Israel’s election plunge?

    During elections on April 9, Arab political parties in Israel narrowly escaped a catastrophic defeat at the polls, as historically low voter turnout threatened to reduce—and possibly even eliminate—their political representation in the Knesset.

  • Economy
    Analysis: How big a deficit should the Saudi Arabian government run?

    Saudi Arabia is planning on operating a fiscal deficit of approximately $35 billion (just over five percent of GDP) for the year 2019. Once it has issued the debt required for funding this deficit, Saudi Arabia’s public debt should rise to around 22 percent of GDP. This low figure means that the government has the option of running an even larger fiscal deficit. Conversely, it could choose to tighten its belt aggressively and balance its budget well in advance of its 2023 target. Which option is best?

  • Debt
    Is debt the answer to Middle East economic troubles?

    Bahrain and Oman are most vulnerable, as they lack the foreign reserve assets that their GCC peers can rely on in addition to plentiful debt issuance to meet their fiscal deficits and large spending commitments. They are now heavily indebted, with Bahrain's debt to GDP at over 90%, and Oman at 58% of the GDP.  

  • Nuclear Energy
    Is Saudi Arabia on track to become a nuclear power?

    Saudi Arabia’s first reactor will not instantly propel Riyadh to the rank of major nuclear power, experts have cautioned. “It’s a small reactor that is essentially designed for research and development,” said Laura Rockwood, head of the Vienna Center for Disarmament and Non-Proliferation, in an interview with FRANCE 24.

  • India-Pakistan
    Did India Shoot Down a Pakistani Jet? U.S. Count Says No.

    The dogfight between the two nations occurred on Feb. 27, when India says a group of Pakistani jets entered its airspace in response to the first Indian air raid on Pakistani territory since a 1971 war. India scrambled its own jets and gave chase. During the aerial battle that ensued, Varthaman took a missile hit and ejected safely into Pakistani territory.

  • Anti-ISIS Campaign
    The ‘Caliphate’ Is Gone. Where’s the ‘Caliph’?

    “We don’t know where he is,” James Jeffrey, the U.S. special envoy to the global coalition to defeat ISIS, told reporters on Monday. Asked whether finding him was a priority, Jeffrey responded: “Finding the top leadership of ISIS or other terrorist groups is always a priority.”