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Writing from Saudi Arabia, Yemen’s President Pens Op-Ed in New York Times Seeking Western Help to ‘Save Yemen’
In a New York Times op-ed written from Riyadh, Saudi Arabia, Yemen’s President Abdu Mansour Hadi called for Western help in restoring him to power as he places blame directly on Iran and Ali Abdullah Saleh. “It is not too late to stop the devastation of my nation. The Houthis belong at the negotiating table, not […]
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Jadwa’s Quarterly Oil Market Update Finds Glut in Oil Markets Widening, Brent to Average $61 Per Barrel in 2015
Jadwa Investment’s just released Quarterly Oil Market Update (Q1 2015) found a widening glut in the supply of oil globally, putting downward pressure on the price on international indices. The Riyadh-based bank said that it now estimates an average price of oil at $61 per barrel in 2015, down from $79. “The widening of global oil […]
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Jadwa April 2015 Chartbook: Royal Decrees Boost February Economic Data
In Jadwa’s April 2015 Saudi Chartbook, economic data reflected strong growth in February of this year following the impact of the late January royal decrees. “Cash withdrawals from ATMs recorded a significant monthly increase in response to the two month’s salary bonus, Jadwa said. In addition, bank lending to the private sector recorded healthy growth in February. However, government deposits […]
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Starting (or Investing In) an Online Business in MENA: Lessons Learned for Founders and Investors
In the rush to create the next big success in the online industry in MENA, it is useful to pause and ponder key lessons our nascent community can benefit from based on the successes (and failures) of founders and investors in developed markets, such as the US, and other emerging markets more advanced than ours, […]
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At Sharm El-Sheikh, Arab Leaders Agree on Joint Military Force to Address Shared Regional Challenges
Arab leaders have agreed in principle to “form a joint military force to address growing Arab challenges and threats” in a resolution following a 2-day summit of representative countries in Egypt, a move that bolsters cooperative efforts to stem the growth of extremism and instability in the Middle East. Leaders from Saudi Arabia, Egypt, Qatar, […]
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For Saudi’s Troubled Housing Market, New Tax on Vacant Plots Could Spur Development, Lower Prices
In a big step for providing affordable housing to Saudi citizens, the Government has decided to impose a tax on the owners of vacant plots of land within city borders. The tax will incentivize development on these idle plots of real estate, either by the landowner or by encouraging the sale of the plots to those […]
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Video: Kentucky Senator and GOP Candidate for President in 2016 Rand Paul Says United States ‘Should Be Boycotting Saudi Arabia’
Kentucky Senator and future GOP candidate for President in 2016 Rand Paul says the United States “should be boycotting Saudi Arabia” in a speech to donors that was posted on YouTube. “Remember when South Africa was misbehaving? We organized a boycott of South Africa. We should be boycotting Saudi Arabia and not taking money from […]
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Is Saudi Arabia Moving Towards a Future Without Expatriate Workers?
Today in the Dubai-based newspaper The National, Gulf expert Theodore Karasik writes that Saudi Arabia is moving to provide more jobs for Saudis, and that under new King Salman, change is in the works for its troubled labor sector. The goal to stop relying on expatriate workers and to transition to a nearly all-Saudi workforce is […]
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U.S. Embassy in Riyadh and Missions in Dhahran and Jeddah Shut for Two Days as Authorities Eye Security Threats
The US Embassy in Riyadh and at its diplomatic missions Jeddah and Dhahran in Saudi Arabia suspended all consular services for two days over security fears. The announcement of the closures came through a special security message dated March 14th that said the U.S. facilities would be closed for the 15th and the 16th. The note […]
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Saudi Housing Minister Relieved of his Post – Report
Saudi Arabia’s Housing Minister Shwaish bin Saud Dhwaihi has been relieved of his post as minister of housing, following a royal order, according to reports. He will be replaced Essam bin Saad bin Saeed, Minister of State. Saudi Arabia’s Ministry of Housing was established by Royal Decree on March 25, 2011 by King Abdullah. In addition to managing Saudi Arabia’s […]
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Jordan makes biggest drugs bust in years at Saudi border
Jordan has foiled two plots to smuggle millions of captagon pills through a border post to Saudi Arabia, the biggest seizure in years of drugs bound for lucrative Gulf markets from what Jordanian security officials say are Syria-based gangs with ties to Iran.The haul was discovered hidden in a shipment of construction vehicles at the Omari crossing in Jordan's eastern desert before it was due to enter Saudi Arabia, officials told Reuters on Wednesday.
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2023-24 Roshn Saudi League – in record-breaking numbers
The recently concluded 2023-24 Roshn Saudi League was one for the history books, with a slew of records tumbling and new benchmarks set. Al Hilal were rampant title winners, Cristiano Ronaldo showed once more why for many he is considered the greatest of all time, while the rapidly growing league encouraged more fans to attend in person and, at the same time, reached a bigger worldwide audience than ever before.
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What will it take to make the MENA region a renewable energy powerhouse?
At a time of rapid growth in renewable energies such as solar and wind, it would be easy to write off the region (as some are doing) as a waning power, both in terms of energy and geopolitics. After all, how good can the outlook be for petrostates in a world focused on moving to net-zero emissions? In our view, the opposite is true: the region is well placed to become not just a major source of renewable energy, but also a central and indispensable player in the global energy transition, uniquely able to balance supply and demand for all types of energy, both hydrocarbons, and renewables.
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One year later, why haven’t the PGA Tour and Saudis completed a deal?
One year later, the professional golf world is still bitterly divided. Television ratings many weeks are down. There has been no merger and no partnership. The two tours continue to operate independently. The best players on the planet get together just four times a year. And there’s been no infusion of Saudi oil money to help reshape or bolster the PGA Tour.
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Commentary: Are Iran and Bahrain about to restore diplomatic relations?
In this discussion about improving ties with neighboring nations, the Bahraini king was not only referring to the Gulf Cooperation Council countries or Iraq, but also openly referring to his country’s eastern neighbor, the Islamic Republic of Iran. Relations with Iran have been strained in recent years, with security and political concerns causing a diplomatic rift. King Hamad told President Putin on May 23: “We have good relations with all countries. Iran is the only one with which we will work to resolve issues and, in fact, there are no significant problems to mention.” The ruler of Bahrain expressed his wish for “progress in development, trade and overall quality of life.”
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Saudi Arabia joins BIS- and China-led central bank digital currency project
Saudi Arabia has joined a China-dominated central bank digital currency cross-border trial, in what could be another step towards less of the world's oil trade being done in U.S. dollars.The move, announced by the Bank for International Settlements on Wednesday, will see Saudi's central bank become a "full participant" of Project mBridge, a collaboration launched in 2021 between the central banks of China, Hong Kong, Thailand and the United Arab Emirates.
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World Cup bidder Saudi Arabia accused of abusing migrant workers ahead of FIFA decision
A global group of trade unions is accusing Saudi Arabia of abusing migrant workers in a complaint filed Wednesday with a UN-backed labor organization, which comes as FIFA prepares to confirm the oil-rich kingdom as host of the 2034 World Cup. The complaint filed by Building and Wood Workers’ International urged the International Labor Organization to investigate Saudi Arabia for “severe human rights abuses and wage theft,” which it said affected at least 21,000 workers over the past decade.
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Saudi Green Initiative Introduces ‘Namour’ to Inspire Environmental Awareness among Youth and Children
Saudi Green Initiative (SGI) issued a press release today announcing the introduction of Namour, a character that aims to inspire young people in Saudi Arabia to be environmental heroes. Named after the Arabic word for Arabian leopard (Nimr), Namour represents strength, power, and grace, symbolizing Saudi Arabia's dedication to environmental conservation and sustainability.
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Five impacts of the Gaza war to watch
Support for the United States was not high in the Middle East prior to October 7, 2023 and strong US support for Israel has always angered the Arab public. Still, the mass casualties caused by Israel’s post-October 7, 2023 operations, coupled with President Joe Biden’s strong support for Israel, have caused public indignation towards the United States to reach new heights. From my conversations with business leaders and experts in the region, there is a concerning level of outrage with US policy, which is perceived as both amoral and damaging to the region’s ability to develop economically.
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Saudi Arabia’s chip design ambitions take shape with new hub
The kingdom announced the National Semiconductor Hub Wednesday to develop so-called fabless chip companies that design new semiconductors.
The goal is to draw 50 firms to the kingdom by 2030 and the focus will be on simple chips — rather than cutting-edge and politically-sensitive technologies — and manufacturing will be done internationally, at least in the medium-term, according to Naveed Sherwani, head of the new hub.
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