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  • Saudi Government ‘Rejects’ U.S. Senate Rulings on Saudi Arabia But Pledges to Continue Building Relationship
     

    The government of Saudi Arabia issued a statement condemning a recent U.S. Senate resolution blaming Crown Prince Mohammed bin Salman for the killing of journalist Jamal Khashoggi, and said the government rejects external interference in its affairs. The Senate measure, which passed in a rare bipartisan vote with unanimous approval on Thursday, was a sweeping condemnation of Crown […]

     
  • OPEC, Russia Will Cut 1.2 million Barrels of Oil Production a Day; Price Jumps
     

    OPEC and Russia have agreed to collectively throttle back oil production by 1.2 million barrels per day to dry up a global supply glut, according to energy reporters from the Wall Street Journal. OPEC nations would cut 800,000 barrels and the Russia-led group would handle the remainder, according to the WSJ. Oil prices on indices […]

     
  • Saudi Aramco CEO: ‘We Need a Major Acquisition For Us to Be In Different Markets Quickly’
     

    In an interview with Bloomberg, Saudi Aramco’s CEO Amin Nasser said the company is earmarking $500 billion to invest over the next 10 years, including $160 billion for natural gas developments and $100 billion for chemicals projects. The interview, given in Dhahran, Saudi Arabia, said the planned spending would come on top of the already planned purchase of a […]

     
  • King Salman Delivers Opening Speech at Shoura Council
     

    King Salman gave his annual speech at the opening of the third year of the Shoura Council’s seventh session on Monday and discussed a number of regional and local issues. The King urged the international community on Monday to halt Iran’s nuclear and ballistic missile programs, and reiterated the kingdom’s support for U.N. efforts to […]

     
  • Gulf Economies Recovering, but Oil Price Volatility Threatens to Weigh on Future Growth – IMF
     

    A recently released report by the IMF found that economic growth in Gulf states will recover in 2018 from a contraction last year, but that future growth remains vulnerable to volatility in crude oil prices. The global lender predicted that an overall energy price recovery from 2015-2016 lows would spur the economies of the six-nation Gulf […]

     
  • Saudi Non-Oil Activity Ticks Up in October
     

    Saudi Arabia’s non-oil economy ticked upward in October “thanks to higher employment and growth in new orders because of increased demand from overseas,” data from the latest purchasing managers’ index show. The headline Emirates NBD Purchasing Managers’ Index (PMI) rose slightly to 53.8 in October from 53.4 in September. A reading above 50 indicates that the non-oil […]

     
  • Crown Prince Mohammed bin Salman to Address FII – Watch Live
     

    Saudi Arabia’s crown prince Mohammed bin Salman is set to make a speech soon at the Future Investment Initiative in Riyadh, now in its second day. The prince will address attendees of the forum at the conclusion of today’s events. A live stream of the event is available on the FII’s website, http://www.futureinvestmentinitiative.com/. A panel event […]

     
  • Uber Competitor Careem secures $200 million in funds from Saudi and Japanese investors
     

    Careem, the Middle East-based ride-hailing company, said on Thursday it had secured $200 million in new funding from existing investors, including from Saudi Arabian billionaire Prince Alwaleed bin Talal’s Kingdom Holding, Saudi Arabia’s Al Tayyar Group and STV, and Japanese e-commerce company Rakuten. The $200 million was the first close of a funding round in which it expects […]

     
  • Trump Sends Pompeo to Saudi Arabia after Speaking with King Salman
     

    Saudi Arabia has extended its “appreciation” to the US administration among others for “refraining from jumping to conclusions” in the ongoing investigation in the Jamal Kashoggi case, which has garnered international attention in the last week. “To help clarify recently issued Saudi statement, the Kingdom of Saudi Arabia extends it appreciation to all, including the […]

     
  • Saudi Private Sector Growth Slows to Four Month Low
     

    Growth in Saudi Arabia’s non-oil private sector slowed to a four-month low in September, a monthly survey of companies showed on Wednesday. The seasonally adjusted Emirates NBD Saudi Arabia Purchasing Managers’ Index fell to 53.4 last month from 55.1 in August. A level above 50 indicates expansion, Reuters reports. Despite struggles in the private sector, Saudi […]

     

MUST-READS

  • Saudi Workforce
    Perspective: How Can Young Saudi Men Be Brought Into the Private Sector?

    The research has revealed that in spite of the hype that has surrounded Vision 2030 and the energy it has appeared to release among the kingdom’s youthful population, the promise of a safe and secure job in the public sector, like for their mothers and fathers before them, remains the touchstone for success.

  • Eid Al-Fitr
    When Does Ramadan 2019 End? Eid Al-Fitr Date, Moon Sighting

    This year, Eid al-Fitr will either start on June 4 or June 5. Some Muslims wait to see the moon themselves before marking Eid al-Fitr, while others use the calculated time of the new moon, or base it on the declaration made in Saudi Arabia or Turkey.

  • China in the Region
    Will Balochistan Blow Up China’s Belt and Road?

    Baloch nationalists and underground organizations opposed the CPEC from the beginning, on the grounds that it would turn the Baloch people into a minority in their own province. They threatened attacks on any CPEC project anywhere in Balochistan.

  • Egypt
    What does the UAE expect from Egypt?

    Ahmed Youssef Ahmed, a professor of political science at Cairo University, told Al-Monitor in a telephone conversation, “The timing of the crown prince’s visit to Cairo is an important sign of consultation and exchange of views on the tense situation in the Gulf region and Iran. It is aimed to boost joint security and strategic coordination, given Egypt’s regional and international weight.”

  • VAT
    Would a VAT rise put Saudi Arabia’s good economic work at risk?

    Essentially, the economic strategists of Saudi Arabia have to weigh whether now would be the right time to raise VAT. Would the fiscal benefits of an increase outweigh the potential economic downside?

  • China in the Region
    Perspective: Who Wins When U.S.-Iran Tensions Rise? China – Defense One

    Of the several “comprehensive strategic partnerships” that Beijing has struck in the Middle East, the Sino-Iranian one is the most comprehensive and the most strategic. China has established similar close ties with Saudi Arabia and the United Arab Emirates, but Iran represents a contrarian’s bet and a vital hedge for China.

  • Iran Sanctions
    Perspective: The Winner From Trump’s Iran Sanctions? Saudi Arabia

    Saudi Arabia has plenty of room to boost its output without breaching the production targets it agreed for the first half of 2019 as part of the OPEC+ deal to manage oil supplies.

  • Electrical Grid
    How Much Will It Cost to Protect America’s Electrical Grid? Who Will Pay?

    Collectively, utility companies in the U.S. are already planning to spend billions of dollars a year on grid cyber defenses.

  • Financial Education
    A penny saved is a penny earned: Do Saudis believe in that?

    But in order to save, citizens need to own bank accounts. According to the latest survey by the King Khalid Foundation, more than 28 percent of Saudis do not have an account.

  • Palestine
    How long can PA keep borrowing money from Palestinian banks?

    Since the Israeli decision to deduct clearing funds in February, the Palestinian government has suffered an even greater financial crisis than it has before. As a result, it had to borrow about $54 million from banks operating in Palestine to cover the February and March salaries, Deputy Minister of Finance Farid Ghannam told Al-Monitor.