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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

  • UAE to attract 6,700 new millionaires this year with Golden Visas and zero-income tax as rich Indians, Brits and Africans plan moves

    The UAE will attract more new millionaires this year than any other country, according to the Henley Private Wealth Migration Report 2024. Millionaires from the UK, India and Africa re being lured by a combination of golden visas, low tax, enviable lifestyle and a strategic location, said the report.
    For the third year running, the UAE looks set to take first place as the world’s leading wealth magnet, with a record-breaking 6,700 moneyed migrants expected to make the Emirates home by the end of the year.

  • Green Peace: How the Fight Against Climate Change Can Overcome Geopolitical Discord

    The challenges facing the clean energy transition are real, but the impulse to pull back is misguided. Now is the time for more ambition, not less. As carbon emissions continue to rise, mitigating the dire threat of climate change requires much faster decarbonization than is currently underway. But this is not the only reason to hasten the transition.

  • Israel may have violated laws of war in Gaza, UN rights office says

    Israeli forces may have repeatedly violated the laws of war and failed to distinguish between civilians and fighters in the Gaza conflict, the U.N. human rights office said on Wednesday.
    Separately, the head of a U.N. inquiry accused the Israeli military of carrying out the "extermination" of Palestinians.
    In a report on six Israeli attacks that caused many casualties and destroyed civilian infrastructure, the U.N. human rights office (OHCHR) said Israeli forces "may have systematically violated the principles of distinction, proportionality, and precautions in attack".

  • The 5 countries millionaires are leaving the most — and the 5 they’re going to

    A new analysis by Henley & Partners, an investment migration consultancy firm, projects that a record number of millionaires and billionaires will migrate to new countries in the coming year.

    “An unprecedented 128,000 millionaires are expected to relocate worldwide this year, eclipsing the previous record of 120,000 set in 2023,” Dominic Volek, the group head of private clients at Henley & Partners, said in a statement.

  • The significance of crafting content that resonates with Saudi audiences

    With an estimated advertising market of around US$2 billion in 2023, Saudi Arabia leads the region in advertising spending.

    The forecasted growth to exceed US$12 billion in the MENA region by 2024 underscores the country’s significant contribution to the region’s advertising landscape.

    Saudi Arabia’s early adoption of digital transformation and its position as a global leader in social media penetration align with the growth trends seen globally in digital and social media advertising.

  • Working Women Are Changing Saudi Arabia

    The government’s subsequent campaign to push the private sector to start creating more jobs for Saudis had the unexpected effect of increasing opportunities not only for men but also for women, who joined the workforce in numbers that shocked policymakers: as of 2023, 31 percent of Saudi women were employed. This shift is remolding both the economy and society: Saudi women are becoming a source of tremendous economic potential and a visible and powerful presence across public life in the kingdom.

  • These are our Most Creative People in Business 2024

    In its third edition, Fast Company Middle East’s Most Creative People in Business is honoring 43 creatives and innovators across various sectors, from entrepreneurs, artists, designers, government officials, sustainability champions, and more.

  • Hevolution announces $400 million surge in healthspan funding

    Hevolution Foundation, a global nonprofit organization that provides grants and early-stage investments to incentivize research and entrepreneurship in healthspan science, has announced it has committed $400 million to healthspan sciences over the last 21 months, a move that positions the Foundation as the world’s largest philanthropic funder of geroscience.

  • Saudi Arabia’s US$10 billion investment to tackle food security

    The Saudi Agricultural Development Fund plays a crucial role by supporting local farmers with substantial loans, focusing on staple crops such as barley, maize, and soybeans. These efforts are integral to reducing reliance on imports and ensuring a steady supply of essential commodities.

  • Everything you need to know about the six candidates in Iran’s presidential election

    Due to the unexpected death of former President Ebrahim Raisi (1960-2024) in a helicopter crash on May 19, the Islamic Republic of Iran will hold presidential elections on June 28. Out of the eighty candidates who registered to run, the Guardian Council, a vetting body, approved only six presidential candidates. Five of these candidates are hardliners, with three already on various Western sanction lists, and one is a reformist. The election may proceed to a second round if the reformist candidate can successfully mobilize a significant portion of the discontented populace.