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  • FocusKSA Video: Former U.S. Ambassador to Saudi Arabia James Smith on the King Abdullah Scholarship Program
     

    The number of students participating in Saudi Arabia’s King Abdullah Scholarship Program has skyrocketed over the past decade from around 2,000 students in 2002 to over 80,000 today, comments former U.S. Ambassador to Saudi Arabia James B. Smith. In a recent FocusKSA (a joint Saudi-US Trade Group/SUSRIS.com initiative) interview with Pat Ryan, SUSRIS Editor-in-Chief, former U.S. […]

     
  • ‘A New Page’ for Diplomacy between Saudi Arabia and Iran?
     

    In what may be another step in a growing thaw in Saudi-Iranian relations, Iran’s Deputy Foreign Minister Hossein Amir Abdollahian visited Jeddah, Saudi Arabia on Tuesday and met with Saudi Arabia’s Foreign Minister, Prince Saud al Faisal. In remarks to Reuters following the meeting, Abdollahian said that both countries agreed that “a new page” was […]

     
  • Sfakianakis: Now is the Time for Energy Subsidy Reform in Saudi Arabia
     

    Annual energy subsidies in Saudi Arabia amount to $120 billion; roughly a quarter of all global energy subsidies combined. As with subsidies worldwide, those in Saudi Arabia are in place primarily for political and social reasons. Unfortunately, energy subsidies result in numerous and profound economic distortions that ultimately do not benefit the poor in particular […]

     
  • Saudi Arabia’s Timely Push for Solar to Reduce Oil Consumption
     

    It’s no secret that Saudi Arabia’s energy consumption is soaring, and that to meet increasing demand, the Kingdom is siphoning off more and more of its crude to power the booming Saudi economy. Although Saudi Arabia has plenty of oil, what is consumed to meet domestic power demand cannot be sold on the market. Writing […]

     
  • ‘Clash of Investment Cultures’ Awaits Foreigners in Saudi Stock Market
     

    Marwa Rashad and Andrew Torchia report on the impact on the Saudi stock market in the wake of the announcement that the Tadawul will open to foreign investors, and interview stock trader Mohamed al-Otaibi on his current “shorter-term approach” to investing in the market:

     
  • Why Saudi Arabia is ‘The Next Big Thing’ for Global Investors
     

    Leone Lakhani and Alanna Petroff write in CNN Money that Saudi Arabia is the “next big emerging market” following the announcement of the TASI opening to foreign investors. That report cited Saleem Khokhar, head of equities at the National Bank of Abu Dhabi’s asset management group, as saying that the market is “deeply liquid…with lots […]

     
  • Saudi Tadawul Surges in Wake of Opening Announcement
     

    The recent announcement that the Saudi Stock Market will open to foreign investors is causing a surge in the market for investors, according to a report in Bloomberg:

     
  • Saudi Women’s Share in the Kingdom’s Commercial Activity Records a Sharp Increase
     

    According to a recent report in the Saudi Gazette, the Kingdom’s women are increasing their share in Saudi Arabia’s private sector commercial activity, the Ministry of Commerce and Industry said in an annual report: The latest in an uptick in female involvement in the workplace, the news follows another report in the Saudi Arabic-daily OKAZ […]

     
  • Turning the Corner on MERS
     

    When the spread of the deadly coronavirus MERS started making headlines on a daily basis in the Spring, international concern began to mount that the Saudi government wasn’t doing enough to contain the virus. New confirmed cases started emerging in other countries in the region, even reaching the United States. As the death toll mounted, […]

     
  • Over 43% of the World’s Natural Gas is in the Middle East, According to BP
     

    43% of the world’s natural gas reserves are in the Middle East region, a June 2014 report by energy company BP found. The BP Statistical Review of World Energy June 2014 found that 80.3 trillion cu/m of natural gas sits under countries in the Middle East. The annual report by BP published every June noted […]

     

MUST-READS

  • Five impacts of the Gaza war to watch

    Support for the United States was not high in the Middle East prior to October 7, 2023 and strong US support for Israel has always angered the Arab public. Still, the mass casualties caused by Israel’s post-October 7, 2023 operations, coupled with President Joe Biden’s strong support for Israel, have caused public indignation towards the United States to reach new heights. From my conversations with business leaders and experts in the region, there is a concerning level of outrage with US policy, which is perceived as both amoral and damaging to the region’s ability to develop economically.

  • Saudi Arabia’s chip design ambitions take shape with new hub

    The kingdom announced the National Semiconductor Hub Wednesday to develop so-called fabless chip companies that design new semiconductors.

    The goal is to draw 50 firms to the kingdom by 2030 and the focus will be on simple chips — rather than cutting-edge and politically-sensitive technologies — and manufacturing will be done internationally, at least in the medium-term, according to Naveed Sherwani, head of the new hub.

  • Saudi Aramco targets two US natural gas producers

    Saudi Aramco, the world’s biggest oil exporter, has initiated talks with two liquefied natural gas (LNG) producers in the United States to bolster its overseas expansion strategy. The oil major is negotiating with Tellurian and NextDecade, Reuters reported, quoting informed sources. Aramco is considering buying a stake in Tellurian’s Driftwood LNG plant in Louisiana, which has a capacity of 27.6 million metric tonnes per annum, the report said

  • Senior Biden administration officials returning to Middle East to push for Gaza ceasefire deal

    Top Biden administration officials are traveling to the Middle East this week to engage in ongoing talks on a possible ceasefire and hostage release deal between Israel and Hamas, as well as the dire situation in the Gazan city of Rafah, US officials told CNN.

    CIA Director Bill Burns, who has served as the administration’s primary interlocutor in ceasefire negotiations, is meeting Qatari leaders in Doha to receive an update on their conversations with Hamas leaders, according to national security adviser Jake Sullivan. Qatar is acting as an intermediary in talks between Israel and Hamas.

    Sullivan also said that the US remains in hourly contact with the Qataris as they await a formal response from Hamas.

  • Saudi Aramco’s $12 Billion Share Sale Quickly Sells Out, but Who is Buying?

    Last week, Saudi Arabia’s energy giant Saudi Aramco (ARMCO) confirmed in a filing with the Saudi Exchange plans to sell shares in the state-owned oil company to help the kingdom fund plans to diversify the economy. Well, the sale took place on Sunday and was a resounding success with US$12 billion share sale sold out shortly after the deal opened. The deal offered ~1.545B Aramco shares, or ~0.64% of the company, within the price range of 26.70 riyals to 29 riyals. Buyers of the shares will be looking to cash in on an upcoming ~$124 billion annual payout that Bloomberg Intelligence estimates will give the shares a juicy dividend yield of 6.6%.

  • Saudi Arabia establishes logistics zone in Djibouti to expand economic presence in Africa

    Saudi Arabia has signed a deal to establish a logistics zone in the port of Djibouti, leveraging Africa’s gateway to propel the Kingdom’s products and exports, fostering economic interplay. During a delegation visit of Saudi investors to the capital city of the East African country, the contract was signed by Hassan Al-Huwaizi, president of the Federation of Saudi Chambers, and Aboubaker Omar Hadi, chairman of Djibouti Ports and Free Zones Authority.

    Under the leadership of Al-Huwaizi, the delegation, including over 100 entrepreneurs and government representatives, came together to advance this transformative initiative.

  • Saudi Arabia Inaugurates National Defense University

    It will work as a research hub to support decisions and resolve problems and provide high level services to society according to the best standards, stressed Al-Ruwaili. The National Defense University aims to achieve academic and professional excellence, qualify professional national security cadres and carry out scientific research in national defense and security. It will also organize cultural and awareness events related to national security.

  • Why the esports industry is embracing Saudi Arabian investment

    “If you compare it to any other sports, all of them are heavily funded by governments across the world, from grassroots to pro sports, and people underestimate the involvement of government funding,” Reichert said. “And this is probably the first time that this has happened in esports on that scale, so it’s a good thing, actually — it’s not a bad thing whatsoever.”

  • Saudi Arabia First-Quarter Deal Flow Slumps to Three-Year Low

    Saudi Arabia closed the fewest number of first-quarter investment deals since 2021 in a further sign the kingdom is struggling to attract funding from private companies and foreign investors.

    The country finalized 64 transactions in the first three months of 2024, according to data from the Ministry of Investment, down 40% on a year earlier. The count is slightly below that recorded in the fourth quarter.

    The US and the UK were leading investors, followed by the UAE, Egypt and Singapore. The report didn’t say why the number fell.

  • How star players will make Euro 2024 a hit with Saudi Fans

    With the Saudi Pro League drawing to a close and capping off a season featuring more star names than many would have imagined a few years ago, many could be forgiven for thinking that that’s it for football for a while. But while the 2024 Euros won’t feature the Al-Suqour Al-Khodhur, research from Footballco shows that young fans are just as excited as their European counterparts. Footballco counts global football media brand GOAL, and Kooora, the number one sports platform in the Arab world, among its portfolio and works with brands to reach fans through football.