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Saudis have a lot on their mind nowadays, but oil will always be their biggest worries
Oil supplied 31 percent of the world’s energy in 2012, compared with 46 percent in 1973, the IEA said. Even as oil prices dropped 48 percent last year, the most since 2008, global production rose 2.1 percent to 93.3 million barrels a day, according to the IEA.
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Audio: What Will New King Mean For Women In Saudi Arabia?
Melissa Block speaks with Rajaa Al Sanea, a dentist and Saudi writer best known for her novel, Girls of Riyadh. She talks about how women's rights changed and expectations for the new king.
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Saudi’s Emaar Economic City says cheap oil may boost growth
The tumble of global oil prices since last June is prompting Saudi Arabia to postpone some energy-related projects, state oil giant Saudi Aramco said this week. But Fahd Al Rasheed, EEC's group chief executive, said he expected no slowdown in his business. "We actually expect in 2015 that the market for our product, for manufacturers is going to increase. As you know, a lower (oil) price means global growth, as companies have growth markets in the US and elsewhere," he said in an interview.
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Obama and Saudi king discuss Iran, energy in symbolic visit
U.S. President Barack Obama met with Saudi Arabia's King Salman on Tuesday to pay respects to the late King Abdullah and bolster a relationship that now stretches well beyond oil interests to security cooperation across the volatile Gulf Arab region.
- Washington Post - Obama pays condolences to family of late King Abdullah
- CNBC - Saudi Succession Hints at Shift in Foreign Role
- The Guardian - Obama forced to defend Saudi Arabia cosiness after India tolerance speech
- Washington Post - 13 times U.S. presidents and Saudi kings have met
- Al-Arabiya - U.S.-Saudi relations under King Salman: What to expect next?
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New campaign to reduce car fuel consumption
The Saudi Center for Energy Efficiency at King Abdulaziz City for Science and Technology plans to launch a third campaign to reduce fuel consumption in the country, this time targeting drivers. The four-week campaign follows the government focusing on air-conditioners in 2013. In 2014, it issued directives for all new buildings to have thermal insulation. The transport sector is responsible for about 23 percent of the total energy consumption in the Kingdom. Small vehicles account for 82 percent of fleets in the country, which consist of 12 million vehicles, and consume about 811,000 barrels of gasoline and diesel a day.
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Saudi Cybersecurity Threat Landscape “More Intense and Complex Than Ever”
Leading Saudi IT decision-makers agree that cybersecurity threats are growing in intensity and scale across the Kingdom. The situation is putting businesses at risk of hits to both reputation and bottom line. A new survey commissioned by F5 Networks found that nearly seven in ten of surveyed businesses (68%) regarded cybercrime as a “severe” threat. 75% of respondents said that their business’ sales and marketing efforts would suffer most from an attack. Worryingly, only 15% are confident their organisation has consistent IT security measures across its entire IT network.
The Kingdom’s burgeoning cyber security market size is indicative of the new cybersecurity threat landscape. According to MicroMarket Monitor, the market is expected to grow from US$1.51 billion in 2013 to US$3.48 billion in 2019 at a CAGR of 14.50% for the period 2013 to 2019.
For the wider region, MarketsandMarkets suggests that the Middle East cybersecurity market is on course to grow from US$5.17 billion in 2014 to US$9.56 billion in 2019 at a CAGR of 13.07%.
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For Saudis, Abdullah redefined what it means to be king
Despite what some considered his "weak" familial ties within the royal family, Abdullah's popularity among Saudis seemed to have been rooted in his realization that the monarch's most important base of support going forward must be the Saudi populace at large. It is noteworthy that even some of the Saudi government's harshest critics both inside and outside the kingdom seldom blamed Abdullah personally for what they considered to be the kingdom's shortcomings.
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Saudi Arabia’s Tire Market to Grow 17 Percent
According to "Saudi Arabia Tyre Market Forecast & Opportunities, 2019," published by ReportBuyer, the tire market in Saudi Arabia is forecast to grow at a CAGR of around 17 percent until 2019. Increasing passenger car sales, expanding automobile fleet size, favorable government policies and significant foreign investments in the automotive sector are some of the key factors propelling tire demand in Saudi Arabia.
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Iran minister’s Saudi visit delayed due to oil price fall: Tehran
Iran's Foreign Minister Mohammad Javad Zarif has postponed a visit to Saudi Arabia in protest against Riyadh's reluctance to cut oil production, a senior Iranian official said on Sunday.
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People & Programs To Watch in 2015: Mideast
The continued shifting of the political sands in Egypt, Saudi Arabia and the Palestinian Authority, greater industrial development among the Arabian Gulf states and an Israel always preparing for the next possible conflict will help shape 2015's outlook in the Middle East.
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