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Recent stories from sustg

  • 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

  • Lebanon and IS
    Lebanon detains wife and son of Al-Baghdadi

    The Lebanese army has detained a wife and a son of Abu Bakr al-Baghdadi, the leader of the Islamic State in Iraq and the Levant (ISIL) group, as they crossed from Syria in recent days, security officials have said. The military said that the wife was a Syian citizen and the detained son was nine years old. According to the army statement, they were detained 10 days ago and have been questioned at the ministry of defence. The Lebanese newspaper As-Safir reported the army detained her in coordination with "foreign intelligence apparatus". It said she had been travelling with a fake passport accompanied by one of her sons.

  • Finance
    Deloitte Said to Face Saudi Regulator’s Ban on Audit Work

    Deloitte LLP may be blocked from auditing companies in Saudi Arabia after the country’s market regulator told firms registered in the kingdom to stop using its local services, according to a circular obtained by Bloomberg.

  • Lebanon and the Region
    The Syrian Conflict and the Ascendancy of the Lebanese Armed Forces East Institute

    Quietly over the past few years, the LAF has been developing a credible force, with U.S. assistance. The training and materials geared toward counterterrorism, internal security, and border control were not seen by Hezbollah as a threat to its military arsenal of rockets and long range missiles. As it turns out, the LAF was better prepared for the Syrian crisis and its spillover into Lebanon.

  • Women Driving
    Saudi Arabian Princess Ameerah Trying To Lift Ban On Female Drivers

    "I don't believe the ban will go on indefinitely," Ameerah told the Daily Mail. "It will be like the decree calling for 20 per cent of Parliament to be made up of women - a surprising development, but one which happened very rapidly."

  • Lebanon
    Lebanon’s Druze, unhappily, are being dragged into Syria’s war

    The bloody wars roiling the Middle East from Lebanon to Iraq’s border with Iran are essentially political struggles for power and control. But the two main protagonists are adherents of the Sunni and Shiite branches of Islam. That leaves the region’s religious minorities, like the Druze who only number around one million in the Middle East, facing the agonizing – and potentially existential – decision of who to support in order to ensure communal survival. But siding with one risks turning the other into an enemy.

  • Saudi Banking Sector
    Strong outlook predicted for Saudi banking sector

    Saudi banks’ high net income is expected to continue to drive robust internal capital generation and substantial loss-absorption capacity. Although capitalisation levels to decline slightly as the banks increase lending.

  • G20 in Australia
    Saudi Arabia’s Crown Prince and Brazil’s president arrive in Brisbane ahead of G20

    The Crown Prince of Saudi Arabia, Brazil's president and the Turkish Prime Minister arrived in Brisbane overnight ahead of the G20 leaders summit.

  • Saudi Women and Finance
    Saudi Women Have $99 Billion in Bank Deposits

    Government statistics have revealed that Saudi women are holding disposable cash exceeding £64 billion (375 billion Saudi Riyals) in commercial banks. Official statistics published by the Ministry of Commerce and Industry on Wednesday (12 November) confirmed however, that women account for only 7.3 per cent of commercial registrations issued by the ministry.

  • Lebanon
    Lebanon’s politics paralyzed by regional conflict

    With Lebanon's most powerful political parties funded and often directed by regional powers, the country has for decades been affected by events in the Middle East.

  • NCB
    Saudi bank NCB to start trading on Weds after $6 billion share sale

    Saudi Arabia's National Commercial Bank IPO-NACO.SE 1180.SE will make its Riyadh bourse debut on Wednesday, a statement from the exchange said, having completed a $6 billion initial share sale last week.