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  • Saudi Arabia’s 2013 Budget – Jadwa
     

    Budgeted spending is at another all-time high in 2013, as the government continues with its program to upgrade the human and physical infrastructure and spurring economic growth. One highlight of the Ministry of Finance (MoF) budget announcement is the 18 percent jump in revenues. With no new initiatives announced, we think this is a sign […]

     
  • ‘Expansionary’ Saudi 2013 Budget Provides for Record Spending on the Back of 2012 Surplus
     

    A recently released report by Jadwa Investment on Saudi Arabia’s 2013 budget highlights the Saudi government’s plans for record spending to sustain the Kingdom’s economic expansion next year.

     
  • Nitaqat: Towards a Saudi “New Deal?”
     

    Editor’s Note: ‘Saudization’ is a topic that has garnered a great deal of front-page ink in Saudi Arabia of late.  The Nitaqat (“Ranges”) Program introduced in 2011 has staunch advocates and detractors and the ongoing argument between members of the private sector and the Ministry of Labor over recent fee hikes for foreign employees has been […]

     
  • Are Members of Royalty “Foreign Officials” Under the FCPA?
     

    For U.S. companies conducting business abroad, the Foreign Corrupt Practices Act (FCPA) is a constant companion.  The FCPA, “applies to any person who has a certain degree of connection to the United States and engages in foreign corrupt practices. The Act also applies to any act by U.S. businesses, foreign corporations trading securities in the […]

     
  • Saudi Is World’s Largest Market For Islamic Assets
     

    Saudi Arabia is emerging as the largest market for Islamic assets, according to a new report by Ernst & Young. According to the report, Saudi Arabia, with an estimated $207 billion of Islamic assets in 2011, was ranked first in the world. Malaysia was ranked second with total assets of $106 billion and UAE ranked […]

     
  • Riyadh at Night
     

    The population of Riyadh, the capital city of Saudi Arabia, has risen dramatically in the last half century—from 150,000 in 1960 to 5.4 million in 2012. The city appears as a brightly colored patchwork in this nighttime astronaut photograph. The brightest lights, apart from those on the old Riyadh Airbase, follow the commercial districts along […]

     
  • Saudi firms top TRENDS CEO 2012 List
     

    There have been several media reports in 2012 by regional and international media, including TRENDS, commenting on the immense growth seen by the Saudi retail and construction sectors. New entries and a rise through the top CEO ranks of Saudi cement companies is a testament to the vibrancy of the property and construction sectors in […]

     
  • Saudi Arabia, UAE set for clean energy revolutions
     

    Despite their vast oil reserves, Saudi Arabia and the UAE are poised for “green revolutions” set to transform the Gulf’s energy landscape. The two states have made major strides recently in using clean renewable energies. In the middle of oil-rich Abu Dhabi, a sandy stretch near the emirate’s airport is a field of solar panels […]

     
  • Jadwa Investment – December 2012 Saudi Chartbook
     

    Jadwa Investment’s Saudi Chartbook for the month of December 2012 assesses a number of key aspects of the Saudi economy including the real economy, bank lending, banking indicators, inflation, trade, oil, exchange rates, the TASI (Saudi Stock Market), sectoral performance, and more. A summary of the report is provided for your consideration below, and the […]

     
  • AME Info’s series on doing business in Saudi Arabia: a guide to the guide
     

    AMEinfo, based in Dubai’s Media City, is a well-known provider of business news and information covering the Gulf and larger Middle East.  Founded in 1993 it was acquired by London-based Emap Communications in July 2006.  Emap also owns MEED. The AME info site now claims over two million readers monthly.

     

MUST-READS

  • Why Another Drawdown Of America’s Oil Reserve Could Happen

    The motivation there for the OPEC+ ministers would be to avoid the inevitable demand destruction that $100/barrel oil prices have caused in the past. It is a motivation that makes sense for countries whose long-term economic health remains highly dependent on strong demand for crude oil. The question, though, becomes how quickly OPEC+ is willing to act to readjust its production targets, given that the group acted just last week to reaffirm commitments to lower quotas it has had in place since last summer. With the Brent price already over $91/bbl and the US summer driving season rapidly approaching, the prospect of a near-term rise to the $100 mark is not really all that remote.

  • Saudi Arabia arrests over 20,000 violators of residency, labour and border security laws in a week

    The Saudi Ministry of Interior said that 20,667 individuals were arrested for residency, labour, and border security violations in a nationwide sweep from April 4 to 10.
    Of them, 14,805 have been arrested for residency violations, 3,860 for border breaches and 2,002 for labour violations.

  • Saudi Arabia’s EV imports rise to 779 in 2023: Report

    Saudi imports of electric vehicles (EVs) increased by 271% to reach 779 cars in 2023, amounting to SAR 397.3 million, Al-Eqtisadiah newspaper reported, citing the General Authority for Statistics.

    Meanwhile, the Kingdom imported 210 EVs in 2022, valued at SAR 52.3 million, the newspaper added.

  • Saudi personal data protection law update 2024

    In essence, the changes aim to streamline the existing regulations, offering a clearer, more cohesive framework. Notably, the new draft simplifies the criteria for assessing which countries and international organisations provide adequate data protection. It also removes overly general criteria and now includes considerations for compliance with binding international treaties.

  • Saudi Arabia likely to invest up to $1bn in Reko Diq Copper-Gold project

    A Saudi investment of up to $1 billion is likely next month in the Reko Diq Copper Gold project located in the Chagai district in Balochistan, Radio Pakistan reported on Sunday.

  • Saudi Arabia starts revealing names of arrested harassers

    The Saudi security authorities have begun announcing the names of those arrested on harassment charges. In a press statement issued on Friday, Makkah police revealed for the first time the full name of the accused while announcing the arrest of an Egyptian expatriate for harassing a woman.

    The police said that legal measures were taken against the arrested Egyptian, Walid Al-Sayed Abdel Hamid, and that he was referred to the Public Prosecution.

  • Saudi Arabia Hajj Visa – A Step-by-Step Guide to Apply

    This step-by-step guide explains how to apply for a Saudi eVisa for the Hajj pilgrimage. Visit our website and apply online. Get help in every step.

  • Saudi foreign minister to visit Pakistan on Monday

    A Saudi Arabian delegation, led by foreign minister Prince Faisal bin Farhan bin Abdullah, will visit Pakistan on Monday and Tuesday as part of efforts to boost economic cooperation, Pakistan's foreign ministry said in a statement on Sunday.
    The visit takes place to expedite follow-up on the understanding reached between Pakistani Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed bin Salman during their recent meeting in Makkah Al Mukarramah to enhance economic cooperation between the two countries, the foreign ministry said.

  • Rise of Captagon Trafficking in the Gulf

    In February, Jordanian forces killed five smugglers attempting to bring the drug Captagon over the Syria-Jordan border, shining a spotlight on the often overlooked consequences of the Captagon trade across the Middle East. While the humanitarian crises that long-running conflicts in the Middle East have produced tend to make the headlines, less documented is the persistent rise in drug trafficking in the region and its far-reaching consequences across borders. One key trend has been the rise in Captagon production and trafficking in recent years, which has its roots in the Syria conflict. In the past year, regional leaders have taken steps to try to resolve the Captagon crisis.

  • Saudi Arabia’s Umluj Beach makes list of top 100 beaches worldwide

    Saudi Arabia’s Umluj Beach has been ranked among the top 100 beaches in the world in the Golden Beach Awards 2024, alongside the likes of Bora Bora and Copacabana. BeachAtlas, a London-based startup, used an algorithm to shortlist 100 beaches according to six criteria. The locations were then put to a vote by a panel of travel experts and influencers who provided their personal insights to refine and help rank the list.