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  • Jadwa Chartbook June 2012: Banking
     

    Riyadh-based Jadwa Investments recently released its June, 2012 Saudi chartbook which includes updates on the Saudi economy, trade, oil metrics as well as assessments of various sectors including banking. Below is a snapshot of Jadwa’s banking sector analysis.

     
  • Saudi Construction Sector: A Sleeping Giant Awakes
     

    Deloitte’s recently released report, “GCC powers of construction 2012: Five lessons to learn” assesses the current prospects of Saudi Arabia’s construction sector.  Deloitte paints a very optimistic picture noting Saudi Arabia’s leading position in the GCC with regard to population and GDP.  It also highlights the ambitious spending plans established in the latest 5-year development plan announced in […]

     
  • Saudi, Kuwait, UAE lead Q1 GCC corporate earnings growth
     

    Earnings of Saudi Arabian companies totalled $6.7 billion, an increase of 15 per cent YoY and 28 per cent QoQ. SABIC, which reported $1.9 billion in Q1 profits, saw its bottom-line decline by five per cent YoY due to softening of global petrochemical prices when compared to Q1 2011. Saudi Banks continued its stable growth […]

     
  • Key to the kingdom
     

    2012 is likely to be the tipping point for the Gulf’s most ambitious real estate project. If the good results continue, and companies carry on signing up to take advantage of the transport infrastructure coming online in 2013, then KAEC looks set to snowball. But when will the city be fully completed? “Our target is […]

     
  • Oil Prices Fall Below Break-Even for Several Nations
     

    Citibank expects that Russia will have a very turbulent next five years, given their estimate that Brent crude prices will likely settle close to $85 over that time period. Oil producers are beginning to feel the future threat of peak demand for oil caused by multiple factors — including unconventional liquid fuels — breathing down […]

     
  • Islamic funds seek socially responsible roadmap
     

    The Islamic investment sector can widen its customer base by adopting a socially responsible model, according to industry experts, but distribution channels, a sophisticated investor base and incentive schemes need to be enhanced first. The links between Islamic finance and socially responsible investments (SRI) are not new, but the former needs a similar transformation which […]

     
  • Changing patterns in U.S. crude imports
     

    U.S. crude oil import patterns have been undergoing significant shifts in recent months. While growing domestic tight oil production from the Bakken formation in North Dakota and elsewhere has helped displace imports from some countries, U.S. import volumes from the Canadian oil sands and Saudi Arabia have been on the rise. In total, U.S. crude […]

     
  • At the SACM Career Fair in Washington, Saudi Arabia’s Brightest Are Met With Opportunities (PHOTOS)
     

    Across the United States, around the end of the month of May every year, graduating students from high schools and universities join with families and friends to celebrate their achievements in

     
  • Saudi Satire Ignites YouTube’s Massive Growth in Middle East
     

    Fahad Albutairi never expected a career in broadcast or comedy, and he certainly didn’t expect to emerge as a YouTube star known to millions. Albutairi is the co-founder and star of the La Yekthar Show, a small cadre of YouTube shows shot in Saudi Arabia that have become wildly popular in the last year. His […]

     
  • Saudi female entrepreneurs exploit changing attitudes
     

    In Saudi Arabia, a small but determined number of women are overcoming obstacles to build their own thriving businesses. Social constraints in the conservative Kingdom have not stopped women from amassing substantial individual wealth. An estimated $11.9 billion is held by women primarily in bonds and bank accounts, according to asset managers Al Masah Capital. […]

     

MUST-READS

  • Nadhmi Al-Nasr: 140,000 workers involved in NEOM projects around the clock

    NEOM CEO Nadhmi Al-Nasr said that about 140,000 workers are involved in implementing various projects on the NEOM giga city site around the clock.

     Addressing the GREAT FUTURES initiative conference at King Abdullah Financial District in Riyadh on Tuesday, Al-Nasr expected that the number of project workers would rise to 200,000 by 2025. “We have about 5,000 full-time employees from more than 100 countries,” the NEOM chief said.

  • Saudi Arabia approves new tax scheme at arrivals duty-free stores

    In big breaking news for the fast-growing Saudi travel retail industry, the Zakat, Tax and Customs Authority (ZATCA) has approved a tax scheme that allows travellers to be exempted from customs duties and taxes when purchasing at duty-free arrivals stores at all land, sea and air customs points in the Kingdom.

  • Saudi Arabia issues royal decrees

    Saudi Arabia issued various royal decrees on Wednesday. They are as follows: Prince Abdulaziz bin Mohammed bin Abdulaziz bin Ayyaf Al-Muqrin was appointed special adviser to King Salman at the rank of minister. He is also responsible for carrying out the work of deputy minister of the National Guard. Abdul Mohsen bin Abdulaziz Al-Tuwaijri was relieved of his position as deputy minister of the National Guard and appointed as an adviser to the Royal Court at the rank of minister.

  • Saudi’s new mining vehicle picks industry veteran as first CEO

    Saudi Arabia’s Manara Minerals Investment Co. hired veteran dealmaker Pierre Chenard to be its first permanent chief executive officer, as the mining investment firm searches for more assets.

    Manara, backed by the Saudi sovereign wealth fund, is spearheading the kingdom’s ambitious plan to become a major player in metals and mining. The vehicle has been tasked with snapping up stakes in mines overseas and funneling the raw materials back to Saudi Arabia for processing.

  • How Do You Solve a Problem Like the Houthis?

    The last seven months have made two things clear. First, the Houthi threat to commercial shipping and freedom of navigation is not going to disappear. This will remain true whether there is a cease-fire in Gaza or not – the genie is out of the bottle, and it will be very hard to contain it. Second, the United States does not have a good toolbox to counter the Houthi threat. As Haines told Congress, U.S. actions have “been insufficient to really stop the Houthis from going down this road.” All of this raises the key question: How can the United States deal with a long-term and enduring challenge like Houthi attacks on commercial shipping?

  • How new Saudi Pro League rules could have huge Liverpool transfer implications

    The quota for foreign players joining Saudi clubs has been extended from eight to 10 for next season, giving them more freedom to target big names. They could be helped further by plans to attract sponsorship from private businesses for teams not backed by the country’s Public Investment Fund (PIF).

  • US Senator Graham says Saudi Crown Prince has clear vision that will change Mideast

    Saudi Arabia’s Crown Prince Mohammed bin Salman has a clear vision that will change the face of the Middle East and help achieve peace in the region, US Republican Senator Lindsey Graham told Al Arabiya in an exclusive interview.

    Noting that he traveled to the Kingdom and Israel four times since Oct 7, Graham said the purpose of his visits was not only “to find a way to end the war, but [also] create peace.”

  • Saudi Wealth Fund Slashes Reported Holdings of US Equities

    Saudi Arabia’s sovereign wealth fund slashed the number of US stocks it reported owning at the end of the first quarter, roughly halving its direct holdings in those equities.

    The Riyadh-based Public Investment Fund held US-traded stocks with a market value of about $18 billion as of March 31, down from $35 billion at year-end, according to an analysis of a Form 13F filed Wednesday with the US Securities and Exchange Commission.

  • Saudi Arabia launches digital identity service, new passport stamp for Hajj pilgrims

    Saudi Arabia’s Ministry of Interior on Wednesday launched the digital identity service for pilgrims arriving from outside the Kingdom on Hajj visas for this season, the Saudi Press Agency reported.

    The ministry also launched a special passport stamp for pilgrims benefiting from the Mecca Route Initiative.

  • Princess Nourah University Organizes Scientific Conference on Conveying Saudi Identity across Languages, Cultures

    The conference aimed to contribute to achieving the first goal of the Saudi Vision 2030 related to enhancing Islamic values and national identity by conveying Saudi identity across languages and cultures and conveying the Kingdom's cultural, literary, historical, and civilizational heritage to the world. It also sought to raise awareness of the importance of languages, translation, and cultural studies in promoting and conveying the national identity to others, ultimately creating a competitive atmosphere among university students in the Kingdom to introduce their national identity through different languages and cultures.