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‘Clash of Investment Cultures’ Awaits Foreigners in Saudi Stock Market
Marwa Rashad and Andrew Torchia report on the impact on the Saudi stock market in the wake of the announcement that the Tadawul will open to foreign investors, and interview stock trader Mohamed al-Otaibi on his current “shorter-term approach” to investing in the market:
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Why Saudi Arabia is ‘The Next Big Thing’ for Global Investors
Leone Lakhani and Alanna Petroff write in CNN Money that Saudi Arabia is the “next big emerging market” following the announcement of the TASI opening to foreign investors. That report cited Saleem Khokhar, head of equities at the National Bank of Abu Dhabi’s asset management group, as saying that the market is “deeply liquid…with lots […]
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Saudi Tadawul Surges in Wake of Opening Announcement
The recent announcement that the Saudi Stock Market will open to foreign investors is causing a surge in the market for investors, according to a report in Bloomberg:
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Saudi Women’s Share in the Kingdom’s Commercial Activity Records a Sharp Increase
According to a recent report in the Saudi Gazette, the Kingdom’s women are increasing their share in Saudi Arabia’s private sector commercial activity, the Ministry of Commerce and Industry said in an annual report: The latest in an uptick in female involvement in the workplace, the news follows another report in the Saudi Arabic-daily OKAZ […]
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Turning the Corner on MERS
When the spread of the deadly coronavirus MERS started making headlines on a daily basis in the Spring, international concern began to mount that the Saudi government wasn’t doing enough to contain the virus. New confirmed cases started emerging in other countries in the region, even reaching the United States. As the death toll mounted, […]
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Over 43% of the World’s Natural Gas is in the Middle East, According to BP
43% of the world’s natural gas reserves are in the Middle East region, a June 2014 report by energy company BP found. The BP Statistical Review of World Energy June 2014 found that 80.3 trillion cu/m of natural gas sits under countries in the Middle East. The annual report by BP published every June noted […]
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For One Journalist, Dangers of Getting Too Close to Extremists Proves Costly
Business Insider has an interesting item about how Aymenn Al Tamimi’s career came apart in public last week:
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Theodore Karasik on ISIL in Iraq and the Implications for Saudi Arabia
In a FocusKSA interview last week, Dr. Theodore Karasik addressed the expansion of ISIL control in Iraq and the challenges for the Kingdom of Saudi Arabia. “ISIL is continuing to look to expand in other directions, and one of those directions includes Saudi Arabia,” Dr. Theodore Karasik told SUSRIS in the interview. On July 6th, […]
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30k Saudi Troops Deployed to Iraq’s Border after Iraqi Troops Vacate
30,000 Saudi troops have been deployed to the Iraq border after Iraqi troops fled following ISIL’s incursion, according to a report. Al Arabiya reports that the troops are being deployed to secure the border with Iraq after the border was left “unprotected.” The move follows activity along Saudi Arabia’s border to the south with Yemen, […]
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An Exclusive Interview with Steve Clemons from the Atlantic on ISIL, Iraq, and Syria
The deteriorating security situation in Iraq and the swift territorial advance of the extremist Sunni militia the Islamic State in Iraq and the Levant (ISIL) present an extraordinarily complex set of local, regional and even global challenges for both Saudi Arabia and the United States. Where is the situation in Iraq going? What are the […]
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MUST-READS
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Secretary Blinken’s Call with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud
Secretary of State Antony J. Blinken spoke today with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud about ongoing tensions and developments in the Middle East. The Secretary emphasized the importance of reaching a ceasefire in Gaza that secures the release of hostages and reiterated the importance of preventing the escalation or spread of the conflict. Secretary Blinken commended Saudi Arabia’s efforts to facilitate aid to Gaza.
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Saudi Arabia’s 2034 FIFA World Cup Bid Conference Highlights Key Aspects of the Landmark Event
Saudi Football Federation (SAFF) president Yasser Al-Misehal stressed on Wednesday that Saudi Arabia's bid to host the FIFA World Cup 2034 has received unprecedented historical support from over 140 countries, reflecting the significant confidence of the international community to host the World Cup.
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Saudi Arabia is among top 20 vehicle import markets in the world
The automotive sector in Saudi Arabia is one of the most important commercial activities in the country and is a main pillar of the national economy as the sector contributes greatly to economic growth. The size of the new and used car market exceeds 700,000 cars of varying types per year. According to the General Authority for Statistics (GASTAT), the total number of new and used vehicles and carriages imported into Saudi Arabia in 15 months (2023 and quarter 1 of 2024) from more than 51 countries exceeded one million vehicles with an estimated value of more than SR83 billion.
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Saudi Arabia’s World Cup Bid Reveals New Plans for Hotels, Stadiums, Airports
The bid book reveals how many hotels Saudi Arabia is building, when they are opening, and how many are luxury. Saudi says it already has “over 45,000 hotel rooms in alignment with FIFA requirements across the host cities,” with more than 185,000 additional rooms” opening by 2034.
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Saudi Arabia reveals Fifa World Cup 2034 venue plans
The showpiece venue for the tournament will be the newly announced King Salman Stadium, which will be located in north Riyadh, next to King Abdulaziz Park. The stadium will cover an area of about 660,000 square metres (sq m) and have a seating capacity of over 92,000 spectators. The 46,000-seat stadium in Neom is “designed to stand out among the world’s most iconic landmarks”, according to the bid book. It is planned to be built 350 metres above ground level within The Line project at Neom.
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Saudi Arabia’s strategy with the OPEC+
The adoption of reductions in production has profound consequences for Saudi Arabia's domestic economy. In the short term, lower oil output means lower government revenue from oil exports. This may provide a challenge to the Kingdom's budget, particularly given Vision 2030's ambitious expenditure programmes. The Saudi government projected a US$21 billion shortfall in 2024 owing to lower oil income. Despite these problems, the cutbacks are part of a larger strategy to maintain long-term economic stability and prosperity. The extension of cutbacks until mid-2024 aims to ensure market stability while progressively restoring further cut volumes based on market conditions.
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Q&A: The Hidden Element Transforming Tourism in Saudi Arabia
Helicopters rarely spring to mind when considering conventional facets of tourism. Yet, their role in the travel industry is surprisingly foundational. They provide essential support in tourism logistics, from facilitating the construction of new tourism infrastructure to providing aerial support for events and activities, medical facilities, and more. Their contribution is quietly transformative in Saudi Arabia, where expansive giga-projects dominate the landscape.
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Parsons Awarded over $160 million Contracts in Saudi Arabia
The Projects including a confidential $41 million contract for technical consulting, $60 million of additional scope on existing contracts, approximately $30 million of new work for a resort and marina and new work supporting a Saudi developer.
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Commentary: Is a Defense Treaty With Saudi Arabia Worth the Commitments?
In the latest from the Pivotal States series, which examines alternative U.S. foreign policy approaches to the world’s key nations, American Statecraft Program Director Christopher S. Chivvis discussed the future of the U.S.-Saudi Arabia relationship with Kim Ghattas, a contributing editor at Financial Times; Aaron David Miller, American Statecraft senior fellow; and Ambassador Dennis Ross, distinguished fellow at the Washington Institute for Near East Policy.
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Groundbreaking Saudi-Turkish Road Comedy ‘My Treat’ to Be Produced by Front Row Productions, Alamiya Filmed Entertainment
Dubai-based Front Row Productions and new Saudi production company Alamiya Filmed Entertainment have teamed on “My Treat” (“Mahmool Makfool”), a Saudi-Turkish road-trip comedy about the misadventures of three young Saudi women who are big fans of Turkish soaps.
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