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  • NCB’s October 19th IPO May be 2014’s Second Largest Behind Alibaba
     

    Saudi Arabia’s National Commercial Bank is set to issue an IPO in October that might raise as much as 16 billion riyals ($4.3 billion), which would be the second largest of 2014 behind China’s Alibaba Group Holding Ltd., Bloomberg’s Matthew Martin reports.  The IPO will list 300 million shares totaling 15% of the lender’s share capital, with an additional 200 million shares, […]

     
  • Saudi Arabia Fast-Tracks Nuclear Power to Meet Soaring Domestic Demand
     

    In an excellent round-up of the shifting energy sector in Saudi Arabia, James Conca in Forbes discusses Saudi Arabia’s embrace of nuclear and renewable energy sources to meet demand – an important initiative for the increasingly energy-hungry Saudi society. “Saudi Arabia burns almost a billion barrels of oil a year to produce electricity, this change […]

     
  • Brookings’ Gold: Interactive Data on Foreign Students In U.S. Higher Education
     

    The Brookings Institution has just published a superb report, The Geography of Foreign Students in U.S. Higher Education: Origins and Destinations, which mines foreign student data from the U.S. Immigration and Customs Enforcement to create an extraordinarily informative overview of the foreign student population in the United States. The report covers the period from 2001-2012 when […]

     
  • A Tadawul Opening Road Map
     

    Jadwa Investments is a well respected Shariah-compliant investment bank based in Saudi Arabia.  Jadwa’s market studies and regular updates can be counted on to be highly informed and concise analyses of the topic at hand. Their monthly ‘Chartbooks,’ quarterly GDP updates, annual budget report and specific sector analysis are regular features on the Saudi-US Trade […]

     
  • Saudi Arabia’s Upcoming 10th Economic Development Plan is of Critical Importance
     

    Saudi Arabia’s two most important national economic goals are diversification and the creation of jobs. Simply, if the economy fails to diversify and doesn’t create enough jobs for Saudis, prospects for Saudi Arabia’s post-oil future will be severely diminished.  An economic development plan is only as good as its implementation.

     
  • SMEs in Saudi Arabia: How the Supreme Economic Council Can Support SME Growth in the Kingdom
     

    SMEs (small and medium-sized enterprises) are key to an economy’s growth and account for 60% to 70% of jobs in most Organisation for Economic Cooperation and Development (OECD) countries, with a particularly large share in Italy and Japan, and a relatively smaller share in the US. The percentage contribution of SMEs to GDP/total value added […]

     
  • The Euromoney Conference: Investment in Saudi Arabia – Sfakianakis
     

    Just recently Fitch upgraded the sovereign rating of Saudi Arabia to AA from AA-, denoting a stable outlook for the Kingdom. Fitch’s upgrade of Saudi Arabia’s sovereign rating makes it rank seventh within the G20 members, after the United States, Germany, Canada, Australia, Britain, France, and ahead of even Japan and China. Despite political upheaval […]

     
  • Opportunities for Saudi-China Trade: Is Asia the Future for the Kingdom?
     

    As part of the recent visit by Saudi Arabia’s Crown Prince Salman to China, I participated the Saudi-China Investment Forum organized by the Saudi Arabian General Investment Authority (SAGIA). I was honored to receive an invitation to speak, and compared with forums organized inside and out of the Kingdom of Saudi Arabia in 2014, this […]

     
  • The Best SPA Photos this Month: March 2014 Edition
     

    March was busy for Saudi officials both inside and outside of the Kingdom of Saudi Arabia. Both the U.S. President and the Secretary of Commerce and State visited Riyadh this month, while Saudi Arabia’s Crown Prince Salman visited China. The Kingdom appointed a new Deputy Crown Prince, and the GCC held a contentious meeting in […]

     
  • Is the Saudi Arabian Economy Productive?
     

    Over the past few years, key macroeconomic indicators point to remarkable breakthroughs by the Saudi Arabian economy. The Kingdom’s economy maintained high GDP growth rates, a budget surplus, growth in the Kingdom’s current account, all while the ratio of public debt to GDP remained minimal. Saudi Arabia’s inflation rate remained low amidst a large influx […]

     

MUST-READS

  • Opinion: US Push for a Saudi-Israel Deal Is All About China

    The last two years have been a rough education for Biden, who has learned that a green revolution won’t render the petrostates of the Middle East irrelevant anytime soon, and that there is a price to pay for making human rights central in relations with repressive regimes. Not least, Biden is discovering that great-power tensions are giving leverage to lesser powers around the globe.

  • Saudi Oil Flows to China Set to Soar Despite Global Supply Curbs

    China is poised to take about 40% more crude from Saudi Arabia via term contracts next month as a mega-refiner starts taking more oil under a new deal. Refiners are expected to receive about 52 million barrels in oil cargoes in September, up from around 37 million barrels this month, according to traders who participate in the market. Companies are allocated barrels after making supply nominations to Saudi Aramco following monthly pricing for its crude.

  • Saudi Arabia Could Deepen Production Cuts As China’s Oil Imports Fall

    Last month, several commodity experts predicted the Saudis will prolong its voluntary production cut but taper off their extra cut by restoring 250,000-500,000 barrels a day of halted production in September. A week later, Saudi Press Agency (SPA) published confirmation that the country will indeed extend its 1 million barrels per day (mb/d) oil output cut into September, but with an important nuance that was largely missed by much of the media coverage that the cut “can be extended or extended and deepened”. This marks the first time Saudi Arabia has signaled a willingness to make even deeper cuts if the previous ones are taking too long to achieve the desired effect.

  • UAE, a US Ally, Looks to China and Russia for Deeper Ties

    The ruler of the United Arab Emirates, Sheikh Mohammed bin Zayed, is a key American ally who counts on the United States to defend his country. But he has traveled twice to Russia over the past year to meet with President Vladimir V. Putin, and in June, his country was celebrated as the guest of honor at the Russian leader’s flagship investment forum. Later this month, the Emirati and Chinese air forces plan to train together for the first time, a notable shift for an oil-rich Gulf nation that has long relied on American fighter jets, weapons and protection.

  • Foreign Ministers of China and Russia Confer Phone After Jeddah, Saudi Arabia Talks

    The foreign ministers of China and Russia conferred by phone on Monday, after Beijing participated in weekend talks in Saudi Arabia aimed at ending the war in Ukraine that did not include Moscow. The Chinese foreign minister, Wang Yi, and his Russian counterpart, Sergey V. Lavrov, discussed “the Ukrainian crisis and other international and regional issues of common concern,” according to a statement from China’s foreign ministry. During the call, Mr. Wang told Mr. Lavrov that China would “uphold an independent and impartial stance” on Ukraine, “actively promote” peace talks and seek a political solution to the conflict “on any multilateral occasion,” the Chinese statement said.

  • Exclusive: China, Saudi in talks for ETF cross-listings to bolster financial ties

    China and Saudi Arabia's stock exchanges are in talks to allow exchange-traded funds (ETFs) to list on each other's bourses, three sources familiar with the matter said, as the countries look to deepen financial ties amid warming diplomatic relations. The talks are in the early stages, said the sources, and could mark a major first step by Beijing and Riyadh towards broadening cooperation beyond energy, security, and sensitive technology sectors. The Shenzhen Stock Exchange, one of the two major bourses in the Chinese mainland, is in negotiations with the Saudi Tadawul Group (1111.SE), operator of the Saudi Stock Exchange, for ETF Connect, as the programme is called, two of the sources said.

  • ‘Saudi priorities’ steering science and tech cooperation with China, report says

    “Saudi Arabia’s cooperation with China on technological and scientific innovation is on the rise – and it is Saudi priorities that are steering the relationship,” the Washington-based think tank said in the report released on Tuesday. It said China and Saudi Arabia – the richest of the Gulf nations and a long-term US strategic partner – had increasingly been working together on tech in recent years as Beijing channels its global ambitions into the Middle East in rivalry with Washington. Those ambitions saw Beijing broker a deal in March between Saudi Arabia and Iran to restore ties, seven years after they were severed. It was announced soon after Chinese President Xi Jinping made a state visit to Saudi Arabia and signed over 30 deals including for investments in technology.

  • Italy minister: joining China’s Belt and Road was ‘atrocious’ decision

    The BRI scheme envisions rebuilding the old Silk Road to connect China with Asia, Europe and beyond with large infrastructure spending. Critics see it as a tool for China to spread its geopolitical and economic influence. "The decision to join the (new) Silk Road was an improvised and atrocious act" that multiplied China's exports to Italy but did not have the same effect on Italian exports to China, Crosetto told the Corriere della Sera newspaper.

  • Forget China, The Hot Money in Mining Is Suddenly Saudi

    The agreement with Vale SA gives the kingdom a 10% slice in one of the world’s crucial suppliers of nickel and copper — essential metals needed to decarbonize. It’s also held other talks, including with Barrick Gold Corp. about investing in a big Pakistan copper mine, according to people familiar with the matter. Speaking privately, executives at top miners said the value of Thursday’s deal made clear that the Saudis are ready to splash cash around.

  • Forget China, The Hot Money in Mining Is Suddenly Saudi

    For mining companies looking for funds, the US and Canadian governments’ recent crackdown on Chinese investment in key metals companies has changed the landscape. That’s given an opening to Middle Eastern countries like Saudi Arabia to fill the gap. “Everything’s changed,” said Friedland. “The American government has an ‘ABC’ policy: Anything But China. So the American government instead goes to rulers in the Middle East and says, “You should be giving the African people an alternative for financing mines in Africa. Recycle some of those petro-dollars.”