MUST-READS

• Coffee
  Saudi Arabia biggest coffee consuming country in world | Economy | Saudi Gazette

  The study showed also that the consumption of coffee per capita amounts to 3 kg per year. According to the same statistics, Saudi people spend annually more than SR1 billion for the preparation of coffee and its components. The Kingdom imports on an annual basis more than 26,000 tons of cardamom, ginger and saffron with a total value exceeding SR4.5 billion, while the number of coffee shops in Saudi Arabia increases more than 10 percent per year

• Counter-Terrorism
  Saudi Arabia Arrests ISIS Recruiters

  Saudi police have arrested eight people in the northwest suspected of recruiting young people to join the Islamic State jihadist group in Iraq and Syria, the interior ministry said Tuesday.

• E-Commerce
  Saudi Arabia moves to regulate e-commerce

  Darab added that other countries which have legislation and a regulatory framework for e-commerce do not see any official interference by any governmental bodies into buying and selling, only within an organizational capacity. He said that such a stance toward e-commerce would not only allow it to thrive in the Kingdom, but would also ensure that instances of online fraud and scams, as well as money laundering and any other illegal activities, are reduced.

• Food Imports
  Saudi Arabia food imports worth $24 billion annually

  Saudi Arabia imports almost 70 per cent of its food requirements, according to an economic study conducted by the Saudi Agriculture Exhibition, which noted that the Kingdom pays 90 billion Saudi riyals ($24 billion) annually in return for food. The study, which was released on Tuesday, noted that food expenditure in Saudi Arabia constitutes 26 per cent of all consumer spending and predicted that food consumption will significantly increase by 55.3 per cent to reach 424 billion riyals ($113 billion) by 2016.

• Saudi-Iran
  Iran deputy foreign minister to visit Saudi Arabia

  Iran's deputy foreign minister will visit Saudi Arabia on Tuesday for the first bilateral talks between the Middle East's most intractable Muslim rivals since Iran's political landscape shifted in 2013, media in both countries reported.

• Labor
  Contractors in Saudi Arabia welcome foreign firms, demand equal treatment

  Several Saudi contractors have said they are not against the Council of Ministers’ decision to allow foreign contractors to enter the Saudi market as long as they are given equal opportunities.   They said all local contractors are hoping for the same treatment foreign contractors will be given and that the Ministry of Labor should grant local contractors the necessary visas to allow them to recruit workers. 

• TASI
  Saudi Arabia Drafts Foreign Limits for $580 Billion Bourse – Bloomberg

  The QFIs’ holdings may not exceed 10 percent of the market value, including interests under swaps, they said. The Saudi bourse has a market capitalization of more than $580 billion. “For Saudi to begin like this is a positive start,” Ahmed Badr, Dubai-based head of MENA equities at Renaissance Capital Ltd., said by phone. “It’s a big enough slice of the pie.”

• Nitaqat
  Saudi Arabia seen losing expats over visa limitation

  The Labor Ministry recently announced the decision, which will become effective from October 25, in a bid to encourage companies in the lowest ranking to improve their employment of Saudi nationals in the private sector.

• Gaza
  Saudi Arabia and the third Gaza war

  Saudi Arabia has remained quiet during the current Gaza war, working instead through Egypt.

• Tadawul Opening
  Why Saudi Arabia Is Big News That May Not Affect You

  Investors would have to apply for licenses with the qualifications including $5 billion assets under management globally, with each license holder only able to purchase 5% of a company, and only 20% total foreign ownership of a company.

  • Arab News - Foreign buying in Saudi stocks jumps
  • Think Advisor - Opening of Saudi Bourse Increases Investment Appeal
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