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With affordable housing in short supply, new JV set to provide mortgage loans to low and middle-income Saudis
A new joint venture between Saudi Arabia’s Ministry of Finance (MoF) and the Islamic Corporation for the Development of the Private Sector (ICD) has received approval to provide loans to low and middle-income Saudis, in what could be a much-needed boost for access to mortgages in the Kingdom. Bidayaa Home Finance was launched to provide […]
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FM Al-Jubeir: Most Effective Way to Solve Regional Crises ‘Through our close partnership and alliance with the United States of America’
U.S. Secretary of State John Kerry on Thursday stood by ally Saudi Arabia in its widening rift with Iran over the execution of a Shiite cleric while urging the regional rivals to pursue a diplomatic solution, the Associated Press reports. Kerry said Washington stands by its friends, “but we also want to see diplomacy work. […]
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Saudi Arabia’ Deputy Crown Prince Mohammed bin Salman Gives His First On-the-Record Interview
Saudi Arabia’s Deputy Crown Prince and defense minister Mohammad bin Salman spoke to The Economist on January 4th in his first on-the-record interview. [Full transcript of the interview available here] [Economist leader here] The interview touched on a wide range of subjects with the son of King Salman, beginning with 7 questions on Saudi Arabia’s […]
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Saudi Stocks Hit 4-Year Low as Global Markets Shudder at China’s Second Halt in Trading This Week
Saudi Arabia’s stock market has continued a tumultuous start to the new year, with the Kingdom’s benchmark index falling another 4.8 percent on Thursday to a four-year low. According to the Financial Times, the drop this year has totaled 10.6 percent, and leaves it 44 per cent weaker than its post financial crisis peak in 2014. The TASI […]
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Video Released Shows Timelapse Construction on Riyadh’s Metro Project
A recently released video by the leading construction partners on Riyadh’s metro project highlighted the progress made on the mega-project that will change the way the city’s residents get around. In October, the Riyadh metro project hit a major milestone as a consortium led by Spanish construction giant FCC said it has completed the drilling […]
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An ‘Islamic NATO?’ Recently Formed Defense Coalition Faces Challenges in Fighting Extremism
Writing in Al Monitor, Washington-based analyst Fahad Nazer comments that Saudi Arabia may be aiming to form an Islamic NATO of sorts, in part because of the turmoil and instability surrounding the Kingdom from virtually all sides. Saudi Arabia’s government sees a more active foreign policy as essential, especially in the absence of a physical American presence in the region. “For much of […]
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Foreign Minister Al-Jubeir Discusses Yemen, Islamic Military Alliance in France 24 Interview
In an interview with France24 on YouTube, Saudi Arabia’s foreign minister Adel Al-Jubeir discussed the ongoing Yemen peace talks in Geneva, the situation in Yemen, the newly created Islamic Military Alliance and also responded to a question about Donald Trump’s recent remarks regarding Muslims in America. On the conflict in Yemen, Al-Jubeir said that he hoped […]
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With Extreme Stance on Muslims, Trump Angers Arab Businessmen, Jeopardizes Global Business Interests
Arab businessmen and Gulf industry leaders are blasting Donald Trump for his extreme views on Muslims, with some of the region’s most powerful men branding Trump “the biggest enemy of Islam” and others eyeing a rethink of ties with the controversial Republican presidential candidate. Trump’s comments are having a very real impact on his business interests in the […]
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‘The key challenges are our overdependence on oil and the way we prepare and spend our budgets’, Saudi Deputy Crown Prince Mohammed bin Salman Says to NYT Columnist Friedman
In an op-ed published today in the New York Times, columnist Tom Friedman discussed his recent visit to Saudi Arabia and the seismic shift in governance in the Kingdom over the last year. The columnist spent an evening with one of the Middle East’s most powerful leaders, Deputy Crown Prince Mohammed bin Salman, and said the […]
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KAUST Announces New Partnership with Dow, Launches Venture Capital Fund with ICD
Saudi Arabia’s King Abdullah University of Science and Technology (KAUST) announced two new partnerships this week, including a R&D agreement with Dow Chemical and the creation of a venture capital fund with the Islamic Corporation for the Development of the Private Sector (ICD). The university’s campus is now the future home of the new Dow Middle East […]
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MUST-READS
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Can The U.S. Afford A Conflict With Saudi Arabia?
With US refineries running at 89% of capacity, up 5% compared to this time around last year, it will not be gasoline but diesel that would be under serious upward pressure over the upcoming weeks.
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Opinion: Who Lost Saudi Arabia?
All this has left the Saudis feeling unappreciated. They believe that they have supported Western efforts to maintain regional stability, resolve the Israeli-Palestinian conflict, and fight terrorism. They continue to trade oil in dollars, which strengthens the U.S. currency and the Western financial order that relies on it. They resent politicians who condemn their production cuts without ever noting their equally frequent production increases.
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Opinion: Who Lost Saudi Arabia?
All this has left the Saudis feeling unappreciated. They believe that they have supported Western efforts to maintain regional stability, resolve the Israeli-Palestinian conflict, and fight terrorism. They continue to trade oil in dollars, which strengthens the U.S. currency and the Western financial order that relies on it. They resent politicians who condemn their production cuts without ever noting their equally frequent production increases.
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Are Saudi Workplaces Working for the Kingdom’s Vision 2030?
Six years later, the Kingdom's Vision 2030 is central to the Saudi experience today: A significant majority of three in four employees (76%) strongly agree that they feel enthusiastic about Vision 2030, according to a 2022 Gallup survey. But although Saudi workers support the program generally, they are less confident about the role of their own organization within that broader vision. Significantly fewer employees (60%) strongly agree that their company is well-positioned to contribute to the vision.
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Will rich countries pay climate reparations at COP27?
A bill for climate change is coming due: $4.3 trillion. That’s the sum the US and other major carbon polluters will face at the COP27 climate summit in Egypt next month. It’s the estimated total cost of adapting to climate impacts and transitioning to clean energy as proposed in every countries’ national climate plans under the Paris agreement, according to an Oct. 19 analysis by the World Resources Institute. 89 countries globally requested climate finance, of which most are vulnerable, lower-income countries.
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The UN Resolution Against Russia’s Ukraine Annexations: How Did the Middle East Vote?
Most of the region supported the measure, with one nay vote, a pair of notable changes since the March resolution, and several strong statements in support of territorial integrity.
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Will the Saudis and Donald Trump Save Golf—or Wreck It?
The enormous sums had a way of revealing priorities even to the players themselves. Johnson told friends he had rebuffed liv offers until he couldn’t anymore. “A lot of guys say D.J. isn’t smart—he’s street smart,” the golfer Davis Love III said. “He told me, ‘I got to a number where I’m willing to take the consequences.’ ” One day at East Lake, while practicing his chipping, Max Homa, a firm Tour loyalist, said that his strategy was to avoid temptation entirely. “I got an e-mail,” he told me. He didn’t read it. “I don’t want to know. My wife told me if I got offered x she’d kill me if I said no.”
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Kurdistan’s Gas Exports: Reality or Mirage?
There are a host of serious internal political conflicts as well as legal, financial, and geopolitical hurdles to increasing Kurdish gas exports, prompting questions regarding whether such aspirations are realistic.
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Iran Protests: Reform, Revolution, or Status Quo?
The slogans of countrywide protests that began in Iran in September following the death of Mahsa Amini in police custody suggest that Iranians are not demanding reform but a complete change of the country’s faith-based and fundamentalist political system. Amini was reportedly arrested and detained by the morality police for “wearing tight trousers.” Government officials deny any form of violence was used by the forces during her arrest and while she was in custody, but brain scans taken at the hospital raised suspicions that she was severely beaten and died because of multiple brain fractures and internal bleeding.
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Who are the top 50 developers in the GCC?
Ranked based on the value of projects, size of land bank, value of new projects launched, and value of new contracts, we run down the top 50 developers in the region
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