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  • End of U.S. Waivers on Iranian Oil Looms Large on Future OPEC Output Quotas, Jadwa Says
     

    A recently released report by Jadwa Investment examines the potential impact of the decision by the Trump administration to not extend all waivers on Iranian oil beyond May 2nd. The ending of waivers would require the cessation of all oil purchases from Iran, which averaged at least 1.5 million barrels per day (mbpd) in Q1 2019. […]

     
  • Saudi Government Data Reveals Large-Scale Crackdown on Illegal Workers, Residents
     

    A crackdown that began in November 2017 on illegal labor in Saudi Arabia has resulted in the deportation of 750,504 expatriates to their respective countries, according to official data. The kingdom has been detaining people for residential, labour and border security regulations since November 2017 with 19 government departments participating in the campaign. Saudi Arabia is […]

     
  • Lockheed Clinches $2.4 billion Deal for Sale of ‘Crown Jewel’ THAAD missiles to Saudi Arabia, Part of $15 billion Package
     

    Bethesda, Maryland-based Lockheed Martin Corporation was awarded a $2.4 billion Pentagon contract on Monday for THAAD interceptor missiles, some of which will head to Saudi Arabia, Reuters reports. The announcement of the THAAD system was “part of a $15 billion package for defensive ballistic missile systems,” the UPI reports. Lockheed will provide interceptors and associated one-shot […]

     
  • Inflows Surge as Tadawul Upgrades to Inclusion in FTSE Russell and S&P Dow Jones Emerging Market Indices
     

    Saudi Arabia’s stock exchange, the Tadawul, began the first phase of inclusion into the FTSE Russell and S&P Dow Jones Indices (S&P DJI), which is expected to lead to billions in inflows into the country and represent a milestone for Saudi authorities as the country continues to open up to investment. Inclusion of Saudi Arabia into the FTSE Russell […]

     
  • Ambitious Goals for Saudi Ports in Vision 2030 Drive
     

    The Saudi Ports Authority says it aims to reduce container time at its ports to three days by 2020 while simultaneously pushing for more than double handling by 2030, according to the Saudi Press Agency and other reports. The goals fit into the kingdom’s Vision 2030 economic and social reform drive which prioritizes the generation of efficiencies […]

     
  • Saudis ‘interested in market stability first and foremost’ despite Trump’s tweets
     

    President Trump’s attempts to restrain oil prices via Twitter have a reduced impact as Saudi Arabia says it will continue output cutbacks aimed at raising the price on global indices.. The President has used his Twitter account successfully in the past year to blast OPEC and Saudi Arabia while the price of crude rebounded from 2016 lows. […]

     
  • Visa Launches Apple Pay in Saudi Arabia as Executives Continue Probe of Absher App
     

    Visa on Tuesday launched Apple Pay in Saudi Arabia, allowing its Kingdom-based cardholders to make payments using their Apple devices, according to reports. Early reports via Apple Insider show “compatibility with previously confirmed financial partners including the country’s largest institution, the National Commercial Bank….Separately, individual banks like Al Rajhi confirmed access to the service in release notes accompanying […]

     
  • Saudi Arabia to establish an independent export and import finance bank
     

    Saudi Arabia will establish an independent export and import finance bank with a capitalization of SAR 30 billion riyals ($8 billion) to provide financing to local exporters and foreign importers, the UAE-based The National reports. The Kingdom first proposed the EXIM bank to support sales of its goods abroad in 2017. The Saudi Exports Development Authority (SEDA) […]

     
  • Report: The Oil Market Roller Coaster
     

    It has been a tumultuous six months for oil prices on international indices. Prices have slightly rebounded early in 2019 after a precipitous fall from over $86 in September on the Brent Index to just over $50 on Christmas Day. In response, the Saudi-led OPEC+ group agreed in December to cut prices to erode a global […]

     
  • OPEC Gets Jump on Planned Production Cuts, Slashes Output in December
     

    The nations forming the OPEC+ alliance slashed oil production in December, one month before the producer group officially began a fresh round of output cuts agreed to late last year in response to a global supply glut and fears of a worldwide recession, according to CNBC. OPEC’s oil output fell by 751,000 barrels per day, to 31.6 million […]

     

MUST-READS

  • Faked video targeting France and UAE likely Russian despite Moscow’s links to Gulf Arab states

    It remains unclear why Russian operatives would choose to publish such a video falsely claiming the Emirates halted a French arms sale, which appears to be the first noticeable effort by Moscow to target the UAE with a disinformation campaign. The Emirates remains one of the few locations to still have direct flights to Moscow, while Russian money has flooded into Dubai’s booming real estate market since President Vladimir Putin launched his full-scale invasion of Ukraine in 2022.

  • Iraq touts deal with U.S. to withdraw most troops by 2026

    Defense Minister Thabit al-Abbasi said the two nations had reached an agreement that would transition Operation Inherent Resolve, the U.S.-led military mission set up a decade ago to combat Islamic State militants in Iraq and Syria, into a “sustainable security partnership” and would remove in two stages the roughly 2,500 U.S. troops now stationed in Iraq.

  • A new crisis may plunge Libya back into chaos

    The upheaval is the consequence of a spat that flared in August but was long in the works, experts say. A move by forces close to Prime Minister Abdulhamid Dbeibah, who leads the government in western Libya, centered in the capital Tripoli, saw officials in the Central Bank kidnapped and led the bank’s longtime governor, Sadiq al-Kabir, to flee into self-imposed exile in Turkey. The Central Bank, which is the sole legal repository of Libya’s oil-generated wealth, ceased functioning. Oil exports were quickly shut down.

  • Why the Kremlin Is Drifting Closer to Houthi Rebels in Yemen

  • Saudi Arabia: Former Public Security Chief Jailed 20 Years Over Forgery, Bribery And Embezzlement

    The court issued an irrevocable ruling and jailed Lt. Gen. Khalid bin Qarar Al-Harbi for an initial 10 years for forgery and bribery. His SR1 million fine and seized embezzled funds will be deposited in the government’s treasury. Al-Harbi was also handed an additional 10 years’ imprisonment after the court convicted him of misusing authority for personal gains, exploiting government contracts and embezzling public funds.

  • Saudi Arabia calls for more pressure on Iran as Houthi threat grows

    Saudi Arabia, which supports the Yemen government opposing the Houthis, believes Iran has been arming the group, including with the weapons used in the attacks on commercial shipping in the Red Sea. Those attacks have led to a halving of the traffic on the Red Sea route, pushing up the costs of maritime transport and damaging the Egyptian economy through disruption to the Suez canal.

  • CMA Chief unveils 3-year strategy to bolster Saudi capital market’s global standing

    Announced on September 12, 2024, the newest CMA strategic plan is structured around three main pillars and nine strategic objectives. The first pillar aims to activate the role of the capital market in financing and investment by enhancing the role of the stock market in financing, and developing the Sukuk and debt instruments market. It also aims to enable the growth of the asset management industry, and enhance capital market services to attract more international investments.

  • Saudi Arabia condemns Netanyahu’s storming of Palestinian Jordan Valley

    Saudi Arabia’s Ministry of Foreign Affairs strongly condemned Israeli Prime Minister Benjamin Netanyahu’s storming of the Palestinian Jordan Valley in what it described as a “provocative attempt” to expand illegal settlements, the Saudi Press Agency (SPA) reported on Thursday. The Israeli PM’s intrusion “aims to expand settlements that violate all international laws and legitimate decisions,” SPA cited a ministry statement as saying.

  • Saudi surgeon performs world’s first robotic heart transplant on teen

    A Saudi surgeon has performed the world’s first robotic heart transplant on a teenager in the Kingdom. The two-and-a-half-hour surgery, led by Saudi cardiac surgeon Dr. Feras Khaliel at the Kingdom’s King Faisal Specialist Hospital and Research Center (KFSHRC), was carried out on a 16-year-old suffering from stage four heart failure.

  • Analysis: Saudi’s NEOM Dream Deferred: Low Funds, High Risk And China-US Strategic Rivalry

    In April this year, Saudi Arabia revised its target for The Line – a unique linear city inside NEOM which has received global attention for its avant-garde architecture and a revolutionary concept of carbon-neutral urban living. The kingdom announced a massive scaling-down in the size of the metropolis from 105 to 1.5 miles along with a decrease in likely inhabitants to 300,000 from original target of 1.5 million.

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