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  • Saudi Aramco begins issuing dollar-denominated sukuk

    Saudi Aramco has started on Tuesday issuing US dollar-denominated international sukuk or Islamic bonds. The sukuk offering, which is part of the Trust Certificate Issuance Program of the SA Global Sukuk Limited, will run through until October 2. The value of the offering will be determined according to market conditions and investor demand at the time of the offering, Aramco said in a filing on the Saudi Stock Exchange (Tadawul). The minimum subscription will be $200,000 with integrated multiples of $1,000 in excess of that amount, subject to market conditions.

  • PwC report finds that youth in Saudi Arabia are prepared to drive sustainable development in the region

    The report indicates that youth across the Middle East are showing higher awareness and engagement with SDGs than their global peers. Around 91% of youth respondents in Saudi are familiar with the SDGs. The findings present a valuable opportunity to bolster youth involvement within relevant programmes and policy making, especially within Saudi Arabia.

  • UAE’s Masdar to acquire renewables firm Saeta from Brookfield for $1.2bln

    UAE's renewable energy company Masdar is set to acquire Saeta Yield, a renewable power company, from Brookfield for an implied enterprise value of $1.4 billion as Abu Dhabi’s clean energy pioneer looks to add to its European portfolio. The transaction consists of a portfolio of 745 megawatts (MW) of predominantly wind assets - 538MW of wind assets in Spain, 144MW of wind assets in Portugal and 63MW solar PV assets in Spain - and includes a 1.6 gigawatt (GW) development pipeline.

  • OPEC is highly bullish on long-term oil demand growth. Not everyone agrees

    The oil producer group’s 2024 World Oil Outlook report, released Tuesday, predicts strong energy demand growth of 24% globally between now and 2050. It also forecasts “robust medium-term growth” in oil demand reaching 112.3 million barrels per day in 2029, an increase of 10.1 million barrels per day compared to 2023.

  • OPEC boosts long-term oil demand outlook, driven by developing world growth

    OPEC raised its forecasts for world oil demand for the medium and long term in an annual outlook, citing growth led by India, Africa and the Middle East and a slower shift to electric vehicles and cleaner fuels. The Organization of the Petroleum Exporting Countries, in its 2024 World Oil Outlook published on Tuesday, sees demand growing for a longer period than other forecasters like BP (BP.L), opens new tab and the International Energy Agency, which expect oil use to peak this decade.

  • The shifting foundations of Gulf-US ties

    For context, let us remember that in 2008, US oil production was below 4 million barrels a day while imports from Saudi Arabia hovered above 1.5 million barrels. The US now produces 13 million barrels a day — 4 million more than Saudi — and imports less than 500,000 barrels from the kingdom. Saudi Arabia and the UAE’s biggest oil markets are now based in the East, with China and India leading the way.

  • Gaza’s Suffering Is Unprecedented

    The Palestinian people had never experienced this level of day-to-day suffering. Although periods of intense violence have occurred, especially at the height of the Second Intifada and during the 2014 war in Gaza, the norm has been low-intensity conflict. In a Palestinian context, the current war in Gaza is unprecedented.

  • How a Saudi startup is pioneering the cultivation of algae in the desert

    Hashem’s Jeddah-based startup is pioneering new methods to grow algae in the desert, using innovative outdoor cultivation systems that rely on advanced monitoring technology to overcome the environmental challenges of Saudi Arabia’s arid climate. His journey began in Boston, where he earned a degree in chemical science before pursuing a master’s in organic chemistry at King Abdullah University of Science and Technology in Saudi Arabia.

  • How the convergence of AI and 5G is transforming Saudi Arabia’s smart technologies

    According to a recent PwC report called “The Smarter Phone,” AI-enabled smartphones are already integrating with daily activities, leveraging predictive analytics to automate routine processes and provide real-time solutions. AI-powered assistants, image recognition and voice command systems are increasingly becoming integral parts of mobile devices, enabling more intuitive user interfaces and features such as facial recognition, automated photo sorting and smart scheduling.

  • Hundreds of non-native speakers take Saudi Arabia’s standardized Arabic test

    Hundreds of non-native speakers have been tested on their Arabic language skills in Saudi Arabia’s new standardized language test this week, according to the Saudi Press Agency. A total of 315 candidates from 22 countries took the Hamza Arabic Language Test in person, which was conducted by the King Salman Global Academy for Arabic Language, in collaboration with seven Saudi universities.