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For the Third Time in 9 Months, IMF Raises Saudi Growth Forecast
The International Monetary Fund on Monday raised its growth forecast for the Saudi Arabian economy on the back of higher oil prices. In the organization’s World Economic Outlook update, the IMF said the Saudi economy — which contracted by 0.9 percent last year — would grow by 1.9 percent in 2018, up 0.2 percentage points […]
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Report: Saudi to Invest $10b in South Africa’s Economy
Saudi Arabia will invest at least $10 billion in South Africa, mostly in the energy sector, including building oil refineries, Reuters reports, citing the spokeswomen for South Africa’s president Cyril Ramaphosa said on Thursday. The pledge was made by Saudi Crown Prince Mohammed bin Salman during an official visit by President Ramaphosa and government ministers […]
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Financial Sector Development Program: Delivery Plan 2020
A recently released report from Jadwa Investment shines light on the Saudi Arabia’s Financial Sector Development Program (FSDP), which was announced in April of this year. “In many ways, the FSDP is one of the most important Vision Realization Programs (VRPs), in that the success of the other 11 VRPs are wholly dependent on it,” […]
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‘The Worst May be Over for Saudi Economy’ as GDP Growth Returns
Rising oil prices and a surge in the non-crude sector jolted the Saudi economy back to life in the first quarter of this year, according to reports, as economists and analysts say the worst might be over for the Kingdom after enacting tough but needed economic reforms. The Kingdom’s GDP grew for the first time […]
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Saudi Arabia, Russia to Jointly Invest $2 Billion in Tech Following Crown Prince, Putin Meeting
Saudi Arabia and Russia will jointly invest $2 billion in technology projects next year, according to reports, following the visit of Crown Prince Mohammed bin Salman to Russia at the start of the World Cup last week. Russia’s RIDF, the country’s sovereign wealth fund, and Saudi Arabia have already allocated $10 billion for investment with $2 billion […]
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Saudi Arabia, UAE and Kuwait Come to Jordan’s Aid with $2.5b after Weekend Summit
Saudi Arabia and two Gulf nations agreed to a $2.5b aid package to help support Jordan’s economy after a proposed income-tax increase sparked some of the largest protests seen in the region since the Arab Spring protests in 2011. The package of aid will include a deposit in the Central Bank of Jordan, guarantees to the World […]
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King Salman Extends Eid Al-Fitr Holiday Break
Saudi Arabia’s King Salman issued a directive to extend this year’s Eid Al-Fitr, the end of the Holy month of Ramadan holiday, to give government employees and military staff a full working week off to mark the holiday, which falls at the end of Ramadan. Although the exact start date of Eid has yet to be officially announced, […]
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Saudi World Cup Squad Beats Greece in Friendly, Will Play Cup Host Russia on June 14
Saudi Arabia’s World Cup squad won a friendly match against Greece 2-0 on Tuesday as the Kingdom sets its sights on its first tournament bid since since 2006. ESPN.com has an excellent breakdown of the Saudi team and how it got to secure its first World Cup bid in over a decade, since failing to qualify […]
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Design Released for Saudi Arabia’s New Global Business School in Jeddah
Renderings of the forthcoming Global Business School in Jeddah have been published online, depicting a massive building that will serve as a modern campus for the educational institution in Saudi Arabia’s second largest city. The new business school, which will have both Saudi and international students, is expected to open in 2020 and will operate […]
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Will Trump’s JCPoA Decision Affect U.S.-Saudi Nuclear Talks?
President Trump’s decision to withdraw the United States from the so-called Iran deal may have an effect on the ongoing negotiations between the U.S. and Saudi Arabia, according to analysts, as Energy Secretary Rick Perry hopes to steer Saudi nuclear negotiators into an “acceptable 123 agreement with additional protocols.” The U.S. is hoping to position Westinghouse among […]
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MUST-READS
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Shu? Inglizi? Middle East countries at the bottom in global ranking of English skills
In terms of English proficiency, both women and men are markedly behind global averages, and the gender gap in MENA is significantly wider than in any other region in the world."
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Are Kurds closer to realizing their dream of an independent state?
They’ve never had the power or international support necessary to achieve that goal. But the new generation hope that their role as key partners in the US-led war against Islamic State (IS), coupled with the possible collapse of the Syrian and Iraqi states, could herald a change in fortune.
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Saudi Economy Not Dead: What Are Investors Missing?
Ashmore Group’s John Sfakianakis discusses how Saudi Arabia’s credit risk has risen to the highest on record with Bloomberg's Scarlet Fu, Joe Wiesenthal and Alix Steel on "What'd You Miss?"
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Are Middle East PR Firms Ready To Expand Beyond Dubai?
Even within countries, differences are discernible; Saudi’s west coast city Jeddah has a culture and diversity that is far removed from Saudi’s capital Riyadh.
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Will fiscal pain of low oil prices force Saudi Arabia’s hand?
Saudi Arabia is feeling some significant fiscal pain as a result of a collapse in oil prices it helped to engineer. But that doesn’t mean the world’s most important oil producer is likely to change its tune.
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Perspective: A Kumbaya Moment for the Middle East? Hardly.
Netanyahu is no doubt betting on Hillary, who has moved to the left on many issues to court liberal voters but not on Israel. But he should be very worried about the shift in the U.S. electorate.
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How Much Oil Can Iraq Produce?
Although the International Energy Agency reports that Iraq has produced record amounts of crude from its southern fields in recent months, a number of security, economic, and political obstacles stand in the way of maintaining and growing Iraqi Sustainable Crude Oil Production Capacity, currently reported as 4.1 million barrels per day. Some analysts have recently revised forecasts downward in light of these concerns.
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Amid spin and conspiracy, what are the facts about Benghazi probe?
At 10 a.m. Eastern time Thursday, politics and diplomacy, the present and the past, collide when Hillary Clinton takes her seat before the bipartisan House Select Committee on Benghazi.
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Are Saudi-Russian Relations Fraying?
Not only has Russia decided to align itself with Saudi Arabia’s biggest foes the region—Assad, Iran and Hezbollah—there are serious doubts about Russia’s true intentions in Syria.
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Analysis: Confrontation or Cooperation? Russian-Saudi Relations Hinge on Syria
These dueling summer visits illustrate that Russia has been attempting to square a circle. It has been developing closer relations with Saudi Arabia and promising to supply it with some of its most sophisticated weaponry, while simultaneously serving as the principal global supporter for Saudi Arabia’s main regional rival, Iran, the most powerful international supporter of the Assad dictatorship.
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