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CarsSaudi Arabia’s car market: A regional hub in the making
The current sales’ figures range from 600,000 to 820,000 cars per year. At current rates of 11 percent annual growth, the million-car mark is likely to be achieved within two years.
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Aramco-ExxonSaudi Aramco-ExxonMobil refining joint venture completes desulphurisation project
The SAMREF partnership, which is celebrating 30 years of joint refining operations, demonstrates the long-term collaboration and progress towards meeting the energy needs of Saudi Arabia’s growing economy.
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Tadawul OpeningSaudi Stock Market to Open to Foreigners as Planned
Saudi Arabia said it’s on track to open the Arab world’s biggest stock market to foreigners in the first half of the year, confirming no change of policy since a new monarch ascended to the throne following King Abdullah’s death.
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King Salman bin AbdulazizWho is the new Saudi king, Salman bin Abdulaziz Al Saud?
He is also respected for his 48-year record as governor of the capital, Riyadah, during which time the city’s population ballooned from 200,000 to 7 million. Commenting on his record as governor, Bruce Riedel, senior fellow and director of the Brookings Intelligence Project, said: “Salman presided over this remarkable transformation with a record for good governance and a lack of corruption.” As governor, he also quietly dealt with the discipline of younger royals when they erred.
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State of the UnionTerrorism, cybersecurity likely to supersede military topics in State of the Union
The White House has been dropping hints in recent days about which issues will be included in the annual speech to the nation, and the president appears poised to focus on cybersecurity, terrorism and domestic civilian issues such as broadband Internet service, paid leave for federal workers and community college tuition.
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Saudi Government SpendingCiti analyst predicts Saudi Arabia will cut state spending after oil price fall
But given the threat from falling oil prices, Mr Soussa said the government needed to broaden its revenue base, via means such as more taxation, rationalisation of social spending and wages, as well as transferring the onus of economic growth on to the private sector.
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Snow in SaudiWinter Wonder in Saudi Arabia – Photos
A Saudi man and his son pose for a photograph in front of camels in the Aleghan Heights, located some 1500 km northwest of the Saudi capital Riyadh in the Tabuk region, on January 10, 2015, after a heavy snow storm hit parts of the Middle East.
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Saudi Budget ProjectionsWhat happens to Saudi Arabia with oil at $50?
But Jean-Michel Saliba at Bank of America Merrill Lynch points out that the recent budget was based on an average oil price of $75 a barrel, which would produce a deficit of 9 per cent of GDP. If oil stays at $50 a barrel in 2015, the fiscal deficit would swell to about 20 per cent of GDP.
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Israel-PalestineUS officials and Israeli president blast withholding of Palestinian tax revenues
The decision by Binyamin Netanyahu to order the withholding of Palestinian tax revenues in response to Mahmoud Abbas’s application to join the international criminal court has been sharply criticised by Israel’s president and the US, as well as senior Palestinian figures.
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Saudi Oil PolicyWhy Saudi Arabia is still in charge
Inevitably, the decision by Opec to “roll over” the existing 30m barrel a day production quota at its November meeting revived old debates about its relevance and importance in the market, especially in light of the growth in US tight oil, or shale output.
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