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E-CommerceWhy should you venture into e-commerce in the Arab region? [Infographic]
In an attempt to get more entrepreneurs enthused about starting online businesses, and helping them see why the Middle East is a good space for e-commerce, the Saudi based payment gateway, Paytabs, published last week an infographic listing the three top reasons for supprting their argument. "Our aim is to inform people about the ecommerce market in the Middle East, as it is the fastest growing in the world," says Umair Maqsood, strategic Marketing Associate at Paytabs. "We want people to do business online and get a chunk of the $15 billion."
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Global Oil MarketsPrivately, Saudis Tell Oil Market: Get Used To Lower Prices
Until recently, Gulf OPEC members have been saying that the price dip was a temporary phenomenon, betting on seasonal demand in winter to prop up prices. But a growing number of oil analysts now see the latest slide as something more than a seasonal downswing; some say it is the start of a pivotal shift to a prolonged period of relative abundance. Rather than fight the decline in prices and cede market share in the face of growing competition, Saudi Arabia appears to be preparing traders for a sea change in prices.
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Saudi (Happy) Flash MobProgress Makes Me Happy! Video
A few years ago I couldn't have imagined the excitement I feel now when I see women actually working in the malls and other businesses. People now seem much more relaxed, much more open.
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DevelopmentSaudi King Gets New Neighbors as Morocco Evades Regional Turmoil
The $346 million plan by Jeddah-based Saudi Binladin Group will turn 250 hectares of former local-authority land into homes for 150,000 people, hospitals and an artificial lake.
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Iran NegotiationsIran president: Differences remain on nuclear deal
The Iranian president has acknowledged that Tehran and world powers agree on the principles of a final deal on Iran’s nuclear program but that differences remain on the “details” that still need to be negotiated. The remarks by President Hassan Rouhani came as the two sides face a Nov. 24 deadline in ongoing nuclear negotiations to reach a comprehensive deal that would prevent Iran from making an atomic weapon while at the same time easing economic sanctions on Tehran for curbs on its nuclear program.
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Global Oil MarketsCan Saudis beat North Dakota in an oil price war?
Comments by Saudi officials indicate they continue to believe shale oil requires a price of $90 a barrel to be profitable, the analysts noted. While the Saudis think this represents a new floor for oil prices, the floor is actually falling as shale-oil production technology continues to improve, Citi said. (It costs just a few dollars a barrel to extract Saudi Arabian oil, but the International Monetary Fund in September estimated that the “breakeven” price required to balance the country’s budget rose to $89 a barrel in 2013 from $78 in 2012.)
- WSJ - Oil Markets Fly Into a Perfect Storm
- Daily Mail - In oil price war, Saudi's biggest rival is next door
- Wall Street Journal - Iran Slashes Oil Prices to Asia Following Saudi Cut
- Al Arabiya - Brent falls near four-year lows as rout extends
- Bloomberg - Saudi Arabia Oil-Price Cuts Said to Be Aimed at Aiding Refiners
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AQAPAQAP eulogizes fighter killed in attack on Saudi border crossing
The AQAP eulogy also indicated that al Omari was particularly incensed by Saudi Arabia's imprisonment of Hayla Quseir, as well as the "kidnapping" of May al Talaq and Amina al Rashed, among others. Hayla Quseir, also known as Umm al Ribab, was has been described as "the most dangerous woman in al Qaeda." She is said to have been involved in recruiting Saudi women to al Qaeda as well as financing the terrorist group and laundering money on its behalf. She was apparently so significant to the organization that upon her arrest by Saudi authorities in 2010, al Qaeda in the Arabian Peninusla's deputy emir, Sa'id al Shihri, promised to take revenge on the Saudi regime for her detention.
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Anti-ISIS CoalitionBehind Biden’s gaffe lie real concerns about allies’ role in rise of the Islamic State
Biden has now apologized to both the United Arab Emirates and Turkey for the comments, but to anyone who has been following the conventional wisdom in foreign policy circles, it's not surprising that he would think this privately (even if it is surprising that he would say so publicly).
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NCB IPOSaudi’s largest lender plans to raise $6bn in IPO
Currently majority-owned by the state Public Investment Fund, NCB is the only unlisted lender among Saudi Arabia's 12 banks. It held assets worth about $101 billion at the end of 2013 and made net profits of $2.1 billion last year. At the offer price, NCB to be the third largest stock on the Saudi exchange, and the second-biggest bank, by market value. Al Rajhi is the current largest listed bank, with a market capitalisation of $30.8 billion. However, the 45 riyals per share value is considered cheap by analysts, who note that shares in state-run companies are often sold to the public at reduced rates as a way of spreading the kingdom's vast oil wealth.
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Social FreedomThe Crackdown on Gay Men in Egypt
In some ways, Egypt’s new government has become even more repressive and intolerant than the regime that was overthrown in early 2011. One disturbing example is the incarceration of dozens of gay men, a crackdown that has vilified a community that had hoped the popular uprising in 2011 would bring minorities greater freedom.
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