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  • Macron: With French President’s visit to Beirut, Lebanon’s future is looking a lot like the past

    On Lebanon's centenary Tuesday, French jets whizzed over the mountains of its former mandate as a French president planted a cedar tree declaring the country's "rebirth." President Emmanuel Macron toured neighborhoods where Lebanese officials have been personae non gratae, embraced activists who have called for the downfall of the Lebanese establishment and even had dinner with the singer Fairuz, the single most popular Lebanese cultural icon who has for decades shunned the country's political leadership.

  • New employment law effectively ends Qatar’s exploitative kafala system

    Workers in Qatar may now change jobs without needing to obtain their employers’ permission, ending one of the most criticised elements of the country’s labour system. The government has also announced an increase in the minimum wage, but rights groups have said the measure does not go far enough, leaving low wage workers earning as little as £1 an hour.

  • Mosques, Churches in Egypt Emerge from Coronavirus Closure

    Major mosques and churches reopened in Cairo over the weekend after a more than five-month shutdown. This comes as the number of Egypt’s new COVID-19 cases rise again after weeks of decline. Only a handful of people in this crowded church are wearing masks, despite the priest imploring worshipers to take precautions against the coronavirus.

  • INTERVIEW: ‘Hero of the Planet’  Bill McDonough calls for a rethink of carbon in the circular economy

    The relationship with SABIC went back to 2015, but he found his services much in demand as plans for the megaprojects of the Vision 2030 strategy advanced. He became an adviser to the Red Sea Development Company, the Royal Commission for AlUla, and for the Al-Soudah project run by the Public Investment Fund, as well as a member of the higher council of NEOM, the huge urban development planned for the Kingdom’s northwest.

  • MENA markets recovering but an uphill battle remains

    As we approach the final quarter of the year, policymakers worldwide remain on a high-wire balancing act of containing both Covid-19 and the resulting economic fallout. Even with the relaxing of mobility restrictions and the stimulative effect that will undoubtedly have, there will likely be a lingering impact on consumer behaviour and some permanent economic damage. This looks set to weigh on global economic growth prospects well beyond 2020.

  • Saudi economy improving as Covid situation abates

    Saudi Arabia’s POS transactions continued their robust rise, growing 33.9% year-on-year (y-o-y), driven by increase in ‘Food & Beverages’, ‘Restaurants & Hotels’ and ‘Clothing & Footwear’ segments, according to July statistics from the Saudi Arabian Monetary Authority (Sama). Credit to the private sector grew 13.2% y-o-y, while bank claims on public sector advanced 19% y-o-y and the deposits grew by 9.4% y-o-y, said the Economic Research report from Al Rajhi Capital, a leading financial services provider in the kingdom.

  • KAPSARC Oil Market Outlook

    The global oil market is likely to move into deficit as early as this quarter. The most significant driver of this shift has been strong compliance with the production cuts agreed by OPEC and its partners (OPEC+) at the group’s historic April meeting.

  • 65.8% of Saudi Arabia’s hotels located in Makkah region

    The Makkah region hosts 65.8 percent of the total number of hotels operating in the Kingdom. The number of hotels of various categories in the Kingdom reached 2,621 in 2019, registering an increase of nine percent, according to the latest data received from the Ministry of Tourism and its Tourism Information Research (MAS) Center. The Madinah region comes next to Makkah representing 17.2 percent followed by Riyadh and the Eastern Province accounting for 4.6 percent each of all hotels in the Kingdom.

  • Foreign firms can invest in Saudi capital market until end of 2021

    Saudi Arabia’s Capital Market Authority has set the end of 2021 as the deadline for the completion of the regulatory framework for foreign companies to offer their shares in the Saudi capital market. It has also permitted the local companies to have a dual listing in international markets.

  • Saudi’s National Water Company constructs reservoirs worth $7.2m

    Saudi Arabia’s National Water Company has completed the construction of two water reservoirs with a capacity of 16,000m3 at a total cost of more than $7.2m (SAR27m). The project also included the establishment of water networks extending across more than 83km; the implementation of 532 domestic water connections to serve more than 6,300 customers; and developing the capability to dispense approximately 5,500 tanker trips in the Rumah governorate annually.