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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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Photo: World’s Largest Container Ship Docks in Jeddah, Saudi Arabia
The Saudi Press Agency reports that the CSC Globe, the world’s largest shipping vessel currently in operation has docked at the Red Sea port of Jeddah, Saudi Arabia. According to the BBC, the ship can carry 19,100 standard 20ft containers. “That’s estimated to be enough space for 156 million pairs of shoes, 300 million tablet computers or 900 […]
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MUST-READS
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Vehicle driver’s age should be 25 or above
The regulatory requirements stipulate that the driver’s age should not be less than 25 years, in addition to obtaining a driver’s permit, a valid driving license, and a certificate to show that they do not have any criminal record. The requirements also include that the driver shall undergo an approved first aid course, passing the medical examination conducted by the authority, passing the professional competency test, and any test or training courses specified by the TGA.
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Saudi Arabia leads GCC IPO momentum in Q2 2024
PwC Middle East’s latest IPO+ Watch highlights a total of 13 IPOs raised $2.6 bn in the region in Q2 2024, compared to the same number of IPOs in the corresponding period in 2023 that raised $1.8bn. Notable listings this quarter include Dr. Soliman Abdel Kader Fakeeh Hospital Company, which raised $763m on Tadawul, as well as Alef Education and Spinneys, two of the largest listings in the UAE.
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UAE seeks solo trade agreements as intra-Gulf rivalry heats up
The United Arab Emirates (UAE), the Arab world’s second-largest economy, is increasingly pursuing independent bilateral trade agreements, bypassing the Gulf Cooperation Council (GCC), the Saudi Arabia-led regional political and trade bloc.
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Oil tumbles on easing fears of wider Middle East war
Brent and U.S. crude oil futures fell on Tuesday as traders grew less nervous about the potential for a wider war in the Middle East, with Iran yet to act on threats to retaliate on Israel for assassination of a Hamas official in Tehran. Benchmark Brent crude futures settled down $1.61, or 1.96% at $80.69 a barrel. U.S. West Texas Intermediate crude finished down $1.71, or 2.14%, at $78.35 a barrel.
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Israel Was Less Flexible in Recent Gaza Cease-Fire Talks, Documents Show
For weeks, Prime Minister Benjamin Netanyahu of Israel has denied that he is trying to block a cease-fire deal in Gaza by hardening Israel’s negotiating position. Mr. Netanyahu has consistently placed all blame for the deadlocked negotiations on Hamas, even as senior members of the Israeli security establishment accused him of slowing the process himself.
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New report demonstrates huge potential for digital label growth in Saudi Arabia
As the MENA region’s graphic arts and packaging industries gear up for the first Gulf Print & Pack exhibition in Saudi Arabia next year, a new report demonstrates the astonishing growth potential of the Saudi digital printing market. The report, compiled by consultancy Astute Analytica, predicts that the Saudi digital print sector will generate revenues of US$ 766.58 million by 2032, up from US$ 351.33 million in 2023 - a CAGR of 9.24 percent during the forecast period 2024-2032.
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Opinion poll: 66% see reckless driving by bike delivery boys
At a time when delivery app bikes are spreading randomly on the roads, the Saudi Center for Opinion Polling (SCOP) revealed in its latest survey that 66 percent of the those participated in the survey witnessed reckless driving behavior on the part of delivery representatives. It was also found in the survey that 59 percent of the participants were upset with the way delivery representatives drive their bikes, Al Arabiya.net reported.
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Attitudes Toward Arabic-English Code Switching in Saudi Society
This study is designed to explore the attitudes of Saudi students at Prince Sattam bin Abdulaziz University toward code switching between colloquial Arabic and English and toward borrowing from the English language in Saudi society, considering two significant variables: major studied and gender.
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How this Saudi hospital redefined its global healthcare branding
Saudi Arabia is making significant strides in artificial intelligence and state-of-the-art healthcare technology, earning recognition on regional and global platforms. This presents a compelling opportunity for Saudi healthcare communicators to embrace branding to extend their innovation and influence across the global industry.
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Middle East Trillions Force New Concessions From Wall Street
Sitting atop nearly $4 trillion and acutely aware of their importance to Western capital markets, the Middle East’s biggest state-controlled funds are increasingly asking asset managers what they’ll do in return for an investment. These firms are being urged — and at times required — to have more gatherings in the Gulf, set up local offices and bring more people to live and work in the area.
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