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  • Jadwa Chartbook June 2012: Banking
     

    Riyadh-based Jadwa Investments recently released its June, 2012 Saudi chartbook which includes updates on the Saudi economy, trade, oil metrics as well as assessments of various sectors including banking. Below is a snapshot of Jadwa’s banking sector analysis.

     
  • Saudi Construction Sector: A Sleeping Giant Awakes
     

    Deloitte’s recently released report, “GCC powers of construction 2012: Five lessons to learn” assesses the current prospects of Saudi Arabia’s construction sector.  Deloitte paints a very optimistic picture noting Saudi Arabia’s leading position in the GCC with regard to population and GDP.  It also highlights the ambitious spending plans established in the latest 5-year development plan announced in […]

     
  • Saudi, Kuwait, UAE lead Q1 GCC corporate earnings growth
     

    Earnings of Saudi Arabian companies totalled $6.7 billion, an increase of 15 per cent YoY and 28 per cent QoQ. SABIC, which reported $1.9 billion in Q1 profits, saw its bottom-line decline by five per cent YoY due to softening of global petrochemical prices when compared to Q1 2011. Saudi Banks continued its stable growth […]

     
  • Key to the kingdom
     

    2012 is likely to be the tipping point for the Gulf’s most ambitious real estate project. If the good results continue, and companies carry on signing up to take advantage of the transport infrastructure coming online in 2013, then KAEC looks set to snowball. But when will the city be fully completed? “Our target is […]

     
  • Oil Prices Fall Below Break-Even for Several Nations
     

    Citibank expects that Russia will have a very turbulent next five years, given their estimate that Brent crude prices will likely settle close to $85 over that time period. Oil producers are beginning to feel the future threat of peak demand for oil caused by multiple factors — including unconventional liquid fuels — breathing down […]

     
  • Islamic funds seek socially responsible roadmap
     

    The Islamic investment sector can widen its customer base by adopting a socially responsible model, according to industry experts, but distribution channels, a sophisticated investor base and incentive schemes need to be enhanced first. The links between Islamic finance and socially responsible investments (SRI) are not new, but the former needs a similar transformation which […]

     
  • Changing patterns in U.S. crude imports
     

    U.S. crude oil import patterns have been undergoing significant shifts in recent months. While growing domestic tight oil production from the Bakken formation in North Dakota and elsewhere has helped displace imports from some countries, U.S. import volumes from the Canadian oil sands and Saudi Arabia have been on the rise. In total, U.S. crude […]

     
  • At the SACM Career Fair in Washington, Saudi Arabia’s Brightest Are Met With Opportunities (PHOTOS)
     

    Across the United States, around the end of the month of May every year, graduating students from high schools and universities join with families and friends to celebrate their achievements in

     
  • Saudi Satire Ignites YouTube’s Massive Growth in Middle East
     

    Fahad Albutairi never expected a career in broadcast or comedy, and he certainly didn’t expect to emerge as a YouTube star known to millions. Albutairi is the co-founder and star of the La Yekthar Show, a small cadre of YouTube shows shot in Saudi Arabia that have become wildly popular in the last year. His […]

     
  • Saudi female entrepreneurs exploit changing attitudes
     

    In Saudi Arabia, a small but determined number of women are overcoming obstacles to build their own thriving businesses. Social constraints in the conservative Kingdom have not stopped women from amassing substantial individual wealth. An estimated $11.9 billion is held by women primarily in bonds and bank accounts, according to asset managers Al Masah Capital. […]

     

MUST-READS

  • Saudi Arabia ‘conservative’ on oil revenue as it pares back Vision 2030 plans

    Speaking at the Qatar Economic Forum in Doha on Tuesday, Jaadan warned that being a resource-rich country was a curse as well as a blessing because being dependent on one commodity such as oil can hold a country "hostage" to the volatility of global demand and prices. "We are not complacent; obviously we need to push through the momentum of reforming and transforming our economy, but we see the results," he added.  

  • Sunak: British, Saudi trade exchange crosses $21 billion

    British Prime Minister Rishi Sunak revealed that trade exchange between the United Kingdom and Saudi Arabia exceeded 17 billion pounds ($21 billion). “Today we are launching the next phase of the deep and growing partnership between Saudi Arabia and the United Kingdom. Over the next two days, we will hear from Saudi leaders and companies about how to make Vision 2030 a reality, and the tremendous opportunities it presents to all of us,” he said while addressing, through a video conference, the opening session of the GREAT Futures Initiative Conference, which kicked off at the King Abdullah Financial District in Riyadh on Tuesday.

  • Saudi Arabia expands PPP pipeline

    Speaking at the MEED Mena Construction Summit in Riyadh, Badr said that NCP has a “healthy pipeline” of over 200 approved projects in different stages of development. He noted that another 300 projects are currently under review. It is understood that the pipeline includes more than 180 schools, following the award of contracts to develop and operate 60 schools each in Jeddah and Medina in 2020 and 2022. “New sectors like healthcare and education have been opened up for public-private partnerships beyond the traditional water and power sectors,” said Badr.

  • Seven and Qiddiya combine to form Saudi entertainment giant

    Saudi Entertainment Ventures (Seven) and Qiddiya Investment Company (QIC) are combining to become a lifestyle and entertainment giant in Saudi Arabia. Seven, a wholly owned public investment fund (PIF) company, has now become a wholly owned subsidiary of Qiddiya, which remains wholly owned by the PIF. By transferring ownership of Seven to Qiddya, the PIF aims to enhance the offerings of both companies and support its wider strategy for the entertainment, leisure and sports sector.

  • Saudi Arabia Diversifying Air Defenses And Boosting Local Industries

    Lockheed Martin awarded two subcontracts to Saudi Arabia’s defense industry in February. Under these subcontracts, Saudi companies will manufacture the interceptor canister and missile round pallet for the Terminal High Altitude Area Defense system. These subcontracts make Saudi Arabia the first country outside the United States to produce THAAD components locally.

  • Unemployment rate in Saudi Arabia’s labor market at 8.6 percent, women’s participation reaches 34.2 percent

    The unemployment rate dropped from 12.8 percent in 2017 to 8.6 percent in the third quarter of 2023

  • Saudi cement sales up 13% YoY in April

    Saudi Arabian cement sales increased by 12.5 per cent YoY in April 2024 but fell 18.4 per cent compared to the previous month. According to Aljazira Capital, domestic cement dispatches in April stood at 2.92Mt, compared to 2.6Mt in the same month in the previous year, due to the base month having 11 extra days of Ramadan. The 18.4 per cent MoM decrease was due to the Eid Al-Fatir holidays. Total cement and clinker exports in April 2024 came in at 554,000t, down 30 per cent on the 790,000t seen in April 2023.

  • Biden Moves Forward on $1 Billion in New Arms for Israel

    The Biden administration notified Congress on Tuesday that it was moving forward with more than $1 billion in new weapons deals for Israel, U.S. and congressional officials said, a massive arms package less than a week after the White House paused a shipment of bombs over a planned Israeli assault on Rafah.

  • For Netanyahu, Gaza’s ‘day after’ must wait

    A segment of Israeli society is furious with Netanyahu over his seeming unwillingness to prioritize the release and repatriation of dozens of Israeli hostages remaining in Hamas captivity in Gaza, where Israel has carried out more than a half-year-long relentless military campaign. Families and friends of the hostages staged an alternative “torch-dousing” ceremony to convey their rage and disquiet.

  • Jordan foils arms plot as kingdom caught in Iran-Israel shadow war

    Jordan has foiled a suspected Iranian-led plot to smuggle weapons into the U.S.-allied kingdom to help opponents of the ruling monarchy carry out acts of sabotage, according to two Jordanian sources with knowledge of the matter.
    The weapons were sent by Iranian-backed militias in Syria to a cell of the Muslim Brotherhood in Jordan that has links to the military wing of Palestinian group Hamas, the people told Reuters. The cache was seized when members of the cell, Jordanians of Palestinian descent, were arrested in late March, they said.

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