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Saudi Arabia’s ‘Third Rail’ No More? Kingdom Eyes Ambitious Energy Subsidies Cuts By November 2017, Report Says
Energy subsidies have long been a significant drag on the Saudi economy on numerous fronts, but as Vision 2030 reforms move ahead, Saudi Arabia is reportedly eyeing further cuts to its domestic energy subsidy program, long a third rail for Saudi domestic politics. According to a Bloomberg report, the government will aim to phase out “subsidies for gasoline and jet […]
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‘Shale Oil 2.0’: Uptick in Oil Prices Entices Shale Producers, but ‘Bumps in the Road’ Persist — Jadwa Investment
The recently observed uptick in oil prices has given many US shale oil producers the opportunity to expand production, Riyadh-based Jadwa Investment said in a research note on shale production. “Latest forecasts from the Energy Information Administration (EIA) see US oil production rising by 10 percent year-on-year in 2017, and 3.3 percent in 2018. Alongside the […]
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Saudi Arabia Secures Spot in 2018 World Cup in Russia
Saudi Arabia has secured a trip to compete in the next World Cup in 2018 after defeating Japan 1-0 in their last AFC Round 3 Group B match on Tuesday. The World Cup in 2018 is being hosted by Russia, and matches will be played in cities across the country. According to FIFA, Saudi Arabia finished […]
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Dow Chemical to Buy 15% More of Sadara to Boost Stake to 50%
Dow Chemical plans to buy an additional 15 percent stake in its $20 billion joint venture with Saudi Aramco, the companies said on Monday according to reports. The U.S.-Saudi joint venture, named Sadara, aims to transform Saudi Arabia “from a consumer and importer to a global exporter,” according to Saudi Energy Minister Khalid al-Falih. U.S.-based Dow Chemical […]
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Rules Issued for Small-Scale Solar Generation in Saudi Arabia
Saudi Arabia has issued a regulatory framework for electricity consumers to operate their own, small-scale solar power generating systems and export unused power to the national grid, according to a Reuters report citing a government statement. The rules will come into force next July 1 and cover small photovoltaic facilities with generating capacity of no more […]
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Saudi Ministry of Justice Approves New Protections for Women in Saudi Arabia
The Saudi Ministry of Justice issued four important decisions and proposals to limit the abuse of women, including raising the age that a woman is allowed to marry to 17 years old, according to a report in the Middle East Monitor that cited the Saudi daily Okaz. The Ministry proposed a rule that “permission to […]
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Saudi Arabia is the World’s Largest Arms Importer, Qatar Third – UK Study
Saudi Arabia is the largest arms importer in the world by total sales amount, with regional rival Qatar surging to third largest importer, according to a data released by the UK’s Ministry of Justice. The report sheds light on the flow of arms, weaponry and military equipment around the world. According to the data, which can be […]
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Recent Economic Data for July 2017 Points to Mixed Picture for Saudi Economy
Growth in Saudi Arabia’s non-oil private sector accelerated in July, albeit at a moderate pace, while the expansion in employment slowed, according to a Reuters report citing a Emirates NBD survey. “The seasonally-adjusted Emirates NBD Saudi Arabia Purchasing Managers’ Index (PMI) rose to 55.7 last month from 54.3 in June. A level above 50 means business is […]
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Demands from Qatar Modified to ‘Six Broad Principles’
Saudi Arabia and 3 Arab nations leading a boycott of Qatar are no longer insisting it comply with a list of 13 specific demands they tabled last month, according to reports. Saudi Arabia, the United Arab Emirates, Bahrain and Egypt told reporters at the United Nations they now wanted it to accept “six broad principles.” […]
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Step Forward for Women in Saudi Arabia as Physical Education Classes for Girls OKed
Saudi public schools will begin offering physical education for girls in the coming academic year, the education ministry announced on Tuesday, in another step forward for women and girls in the Kingdom. The long-awaited reform was announced by Education Minister Ahmed al-Issa on Tuesday. The announcement said that P.E. for girls would start with the […]
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MUST-READS
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Creativity to transform these Saudi industries
Drawing on his unique perspective as both a tech entrepreneur and a creative pioneer, from his early days at Facebook to his latest venture, Karaz Disco, Prince Fahad will offer an in-depth look at how innovative content with an Arabic identity is redefining the Kingdom’s cultural landscape. His session will explore the ongoing impact of Saudi Vision 2030 on the media and entertainment sectors and the critical role of creativity in driving this profound transformation.
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Saudi Arabia announces new global coalition to establish Palestinian state
Saudi Arabia’s top diplomat on Thursday announced the launch of a new initiative to establish a Palestinian state and garner support for the implementation of a two-state solution after decades of international efforts failed, leading the region to the brink of an all-out war. The Global Alliance for the Implementation of the two-state solution was unveiled during Prince Faisal bin Farhan’s speech at a meeting that included the Arab League, the Organization of Islamic Cooperation (OIC) and Norway.
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As Middle East conflict escalates, Muslim American voter group endorses Harris over Trump
Vice President Kamala Harris has secured the endorsement of one of the nation’s largest Muslim American voter mobilization groups, marking a significant boost to her campaign since many Muslim and Arab American organizations have opted to support third-party candidates or not endorse. Emgage Action, the political arm of an 18-year-old Muslim American advocacy group, endorsed Harris’ presidential campaign on Wednesday, saying in a statement provided first to The Associated Press that the group “recognizes the responsibility to defeat” Donald Trump in November.
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Israel ‘didn’t even respond’ to truce proposal, as it continues bombing Lebanon
Israel's prime minister indicated that he "did not even respond" to proposals aimed at bringing about a temporary ceasefire between Israel and Hezbollah, as Israeli forces continued raining down air strikes on Lebanon. On Thursday, US President Joe Biden and French President Emmanuel Macron published a joint statement calling for a 21-day truce, aimed at paving the way for broader negotiations for a permanent ceasefire. Just hours later, however, Prime Minister Benjamin Netanyahu's office rejected the idea.
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Qatar becomes first Arab state to join US visa waiver programme
The US has said it will waive visa requirements for citizens of Qatar, making the gas-rich Gulf state the first Arab country, and only the second Muslim-majority country, to join a network of states with expedited travel to the US. The US Department of Homeland Security said on Tuesday that the Gulf monarchy cleared the "stringent security requirements" to become the 42nd member of the US’s visa waiver programme. Qatar’s population stands at just 2.6 million, of whom only a tiny fraction - around 313,000 - are citizens. The US visa waiver programme is mainly reserved for wealthy western European and Asian states. Israel was added to the programme last year.
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Hotel franchise in the Middle East: navigating the shift
Though still considered emerging, the region's hospitality market is rapidly maturing and diversifying. Coupled with an increasing range of brands across all scale ratings, there has been a noticeable shift to franchise (including third-party operators and heightened owner engagement). Franchise, predominant in North America and widespread in Europe, may not have been considered when HMAs for most Middle East hotels were first entered. But as these agreements approach expiry or renewal, their owners may have a golden opportunity to explore alternatives.
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Middle East accounts for 7.5% of global crypto volume — Chainalysis
According to a Sept. 25 Chainalysis report, the Middle East and North Africa region (MENA) accounted for 7.5% of all cryptocurrency transaction volume globally between July 2023 and June 2024. Chainalysis estimates the total value received during the period to be $338.7 billion, with the vast majority of the transaction volume coming from institutional and professional investors.
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US admits Qatar into visa waiver program
The United States on Tuesday announced it was admitting Qatar into its visa waiver program, allowing visa-free travel by Qatari citizens for up to 90 days starting no later than Dec. 1. The U.S. Department of Homeland Security and the Department of State said in a statement that Qatar is the first Gulf country to be admitted to the U.S. Visa Waiver Program, commending Doha for meeting the strict security requirements to join.
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Foreign trucks must settle any violations before their entry or exit of Saudi Arabia
It is mandatory on the part of foreign trucks to settle any transportation violations before the entry or exit of drivers or trucks in Saudi Arabia. This is one among the four key regulations, formulated by the Transport General Authority (TGA), in collaboration with relevant authorities, aimed at governing foreign truck operations in the Kingdom.
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Saudi Arabia to bolster medical tourism with strategic partnerships
One notable example is a memorandum of understanding (MoU) signed last August between Saudi Arabia and Morocco, focusing on research, digital health, therapeutic development, pandemic preparedness, and preventative medicine. Meanwhile, this MoU follows a similar agreement signed with Thailand in January to foster knowledge sharing on hospital management and wellness services between both countries.
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