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  • Property rents soar in Saudi Arabia, analyst report shows
     

    Residential property rents in Saudi Arabia’s main cities have increased by up to 15% in some locations in the first six months of the year. The latest analysis report from real estate consultants CBRE explains that an increasing population and a rapid rise in per capita GDP has led to soaring rents. There has been […]

     
  • Jadwa September 2012 Saudi Chartbook – Inflation
     

    Jadwa Investment’s recently released Saudi Charbook for the month of September 2012 found that the Saudi economic activity in July experienced a “modest slowdown of economic activity…with indicators of consumer spending and PMI slowing on the back of a seasonal trend.” However, Jadwa notes that the “healthy underlying economic momentum remains in place.” Below is a snapshot of […]

     
  • President Obama’s Envoy to Mecca Islamic Summit Shares Views
     

    A little known detail about last month’s Extraordinary Islamic Solidarity Summit in Mecca was the presence of an American diplomat representing President Barack Obama to the 56-member Organization of Islamic Cooperation (OIC). The special summit, which met on August 14-15, 2012, was called by King Abdullah to take up crises, conflicts and serious issues affecting […]

     
  • Saudi real estate market poised for new boom
     

    New programmes and the new mortgage system — approved by the cabinet in July and expected to take force in the next few weeks — will contribute to decreased land prices, realtors said. Land prices are expected to drop by 20%, especially in the central, eastern and western regions, according to realtors. Residential land prices […]

     
  • Jadwa September 2012 Chartbook – Construction Indicators
     

    Jadwa Investment’s recently released Saudi Charbook for the month of September 2012 found that the Saudi economic activity in July experienced a “modest slowdown of economic activity…with indicators of consumer spending and PMI slowing on the back of a seasonal trend.” However, Jadwa notes that the “healthy underlying economic momentum remains in place.” Below is a snapshot of […]

     
  • Mitt Romney on Foreign and Middle East Policy
     

    This [US election] year is different. There is relatively little attention to issues outside America’s borders – only four percent of Americans “consider foreign affairs much of an issue in this year’s campaign” according to Foreign Policy.com.  The sluggish economy – taxes, unemployment, deficits, thorny domestic issues and “personality” questions dominate the campaigns. With the […]

     
  • Saudi per capita water consumption 91% higher than global average
     

    Per capita water consumption in Saudi Arabia is 91 percent higher than the international average, according to a new report by the country’s Saline Water Conversion Corporation (SWCC). Saudi Arabia is the world’s largest producer of desalinated water, accounting for at least 17 percent of the total world output. The Kingdom has invested nearly $25 […]

     
  • Jadwa September 2012 Saudi Chartbook – Real Economy
     

    Jadwa Investment’s recently released Saudi Charbook for the month of September 2012 found that the Saudi economic activity in July experienced a “modest slowdown of economic activity…with indicators of consumer spending and PMI slowing on the back of a seasonal trend.” However, Jadwa notes that the “healthy underlying economic momentum remains in place.” Below is a snapshot of […]

     
  • Shoura Council to appoint 30 women
     

    Saudi Arabia is expected to appoint 30 women on the Shoura Council before the consultative body begins its next annual session. “The expectations are that up to 30 women will be appointed to the Shoura,” sources close to the council told Al-Sharq Arabic daily. The newspaper said that talks have already begun with several institutions […]

     
  • The Island of the Arabs
     

    So in 1954 when Aramco’s New York office decided to produce a feature film about Saudi Arabia and the company’s role in the kingdom, they chose Dick Lyford to direct it. The film called Island of the Arabs begins with the early geologists landing in Jubail and then exploring in the desert. While sitting around […]

     

MUST-READS

  • Etihad Expands To 76 Destinations With Airbus A320s To Saudi Arabia’s Al Qassim

    In most parts of the world, Etihad Airways is known for its ultra-luxurious long-haul flights across continents, but it also has a thriving short-haul network served mainly by Airbus A320 Family aircraft. Last Friday, the full-service carrier announced adding a new route from Abu Dhabi to Al Qassim in Saudi Arabia, which will commence in June.

  • ‘Reef Saudi’ Invests USD16.2 Million to Elevate Saudi Arabia’s Coffee Production

    The ‘Reef Saudi’ initiative, focused on Sustainable Agricultural Rural Development, is revolutionizing the Kingdom’s coffee industry. Since 2020, an initial investment of SR61 million has empowered 3,718 individuals engaged in coffee cultivation and production. This commitment signals a transformative surge in Saudi Arabia’s coffee output, soaring from 800 tons in 2020 to 1,485 tons in 2023, marking a remarkable 37% increase.

  • Saudi Arabia’s economic diversification: Driving growth beyond oil

    Saudi Arabia’s non-oil sector is experiencing a surge in activity, signaling a pivotal turning point in the Kingdom’s economic diversification efforts. With recent data indicating a growth trajectory, the country stands poised to redefine its economic landscape beyond its traditional reliance on oil revenues.

  • Princess Reema, Saudi Ambassador, Navigates Rough Waters in Washington

    In the five tumultuous years since her arrival, Saudi Arabia’s fortunes in Washington, and Princess Reema’s, have turned. Russia’s invasion of Ukraine and the need for Saudi support in the oil markets led Mr. Biden to a diplomatic fist-bump with the crown prince in Jeddah in the summer of 2022. Princess Reema, with the assistance of her kingdom’s multimillion-dollar lobbying and publicity machine, has been a high-profile part of the grudging détente.

  • Opinion: Premier Tour proposals signify Saudi influence and a tipping point for tennis

    For decades, the length of the season has put a strain on players and it is one of numerous complaints that have gone unresolved. Players outside the top 100 also still struggle to break even, with inflation devouring the modest prize money on the ITF World Tennis Tour. The calendar is fractured and illogical, failing to minimise travel distances between tournaments along with the sport’s carbon footprint.

  • Saudi Aramco Suspends Two Oil Contractors

    Aramco has served notices of temporary suspension to two oilfield service contractors, Zawya has reported, citing the companies. According to one of them, Borr Drilling Limited, the suspension will begin this month and last for a year, the report said. Borr Drilling operates the Arabia I rig in Saudi Arabia and said it would look to move the rig elsewhere for the duration of the suspension. The other company, Valaris, has also received a suspension for one rig, out of a fleet of 19 that its Saudi subsidiary operates in the kingdom. The contract for the rig was ending at the end of this year, the report noted.

  • Aramco and GCT Semiconductor sign 5G, AI deal in Saudi Arabia

    Saudi Arabian state-owned Oil Group Aramco signed a Memorandum of Understanding (MoU) with chip company GCT Semiconductor to bolster the country’s 4G and 5G ecosystem through the development of mission-critical and public safety networks. While financial terms and the length of the MoU were not disclosed, GCT shared in a press statement that the pair will design and co-develop chipsets and modules for LTE, 5G and NTN spectrum in order to “support the localization of wireless end-user devices and IoT manufacturing.”

  • Solar Spider Targets Saudi Arabia Banks via New Malware

    The sophisticated threat group behind a complex JavaScript remote access Trojan (RAT) known as JSOutProx has released a new version of the malware to target organizations in the Middle East. Cybersecurity services firm Resecurity analyzed technical details of multiple incidents involving the JSOutProx malware targeting financial customers and delivering either a fake SWIFT payment notification if targeting an enterprise, or a MoneyGram template when targeting private citizens, the company wrote in a report published this week. The threat group has targeted government organizations in India and Taiwan, as well as financial organizations in the Philippines, Laos, Singapore, Malaysia, India — and now Saudi Arabia.

  • Saudis Scale Back Ambition for $1.5 Trillion Desert Project Neom

    Saudi Arabia has scaled back its medium-term ambitions for the desert development of Neom, the biggest project within Crown Prince Mohammed bin Salman’s plans for diversifying the oil-dependent economy, according to people familiar with the matter. By 2030, the government at one point hoped to have 1.5 million residents living in The Line, a sprawling, futuristic city it plans to contain within a pair of mirror-clad skyscrapers. Now, officials expect the development will house fewer than 300,000 residents by that time, according to a person familiar with the matter.

  • Hamas says Gaza truce talks still deadlocked despite reports of progress

    A Hamas official said on Monday no progress was made at a new round of Gaza ceasefire talks in Cairo also attended by Israeli, Qatar and U.S. representatives, after the Egyptian hosts said headway had been achieved on the agenda. Western powers have voiced outrage over what they see as an unacceptably high Palestinian civilian death toll and humanitarian crisis arising from Israel's military onslaught to destroy Hamas in tiny, densely populated Gaza.