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  • Saudi Defense Minister Prince Salman Visits Pentagon, White House
     

    Saudi Defense Minister Prince Salman bin Abdul Aziz held talks at the Pentagon on Wednesday that focused on the crisis in Syria, hours before a ceasefire deadline was due to expire. The Saudi defense chief later held talks with President Barack Obama in the Oval Office.

     
  • Saudi Arabia & the GCC – post ‘Arab Spring’: Obaid
     

    This week Mr. Nawaf Obaid, former strategic adviser to Prince Turki Al-Faisal, presented a briefing titled, “Saudi Arabia & the GCC in a Post ‘Arab Spring’ Environment” at the Harvard Kennedy School of Government as part of a program examining responses among GCC states to the “Arab Spring” turmoil that started early last year. Obaid […]

     
  • Al-Rabiah moves to push foreign trade and investment
     

    Commerce and Industry Minister Tawfiq Al-Rabiah yesterday opened a major workshop for the development of Saudi commercial attaches as part of the ministry’s efforts to promote trade and investment relations with foreign countries. The workshop attended by top officials from related departments and agencies discussed ways to improve the performance of Saudi commercial attaches abroad […]

     
  • Graphic: The Rise of Saudi Oil Consumption
     

    Saudi Arabia uses as much oil per person as America, largely to run oil-fired power plants to run domestic air conditioners. And the more of its oil siphoned off for such uses, the less cushion there is in the worlds oil supply. Thats a big problem now but is becoming less of one. America and […]

     
  • Critical Commercial and Economic Ties: Interview with Jose Fernandez
     

    The 2nd US-Saudi Business Opportunities Forum in Atlanta in December brought together a high level delegation of over 200 Saudi officials and business people with over 1000 Americans to explore the $1 trillion-plus commercial openings available in the coming decade in the Kingdom. The response to the Forum – and what it means for American investment and […]

     
  • Secretary of State Clinton to Visit Saudi on Friday and Saturday
     

    Clinton will be in Saudi Arabia’s capital of Riyadh Friday and Saturday. There, she’ll meet with Saudi King Abdullah and participate in an event dedicated to the “strategic cooperation” between the U.S. and Gulf Arab states. Washington and many of its allies say Syrian President Bashar Assad has lost all legitimacy in a year of […]

     
  • Geithner welcomes Saudi oil pledge
     

    U.S. Treasury Secretary Timothy Geithner said he welcomed Saudi Arabia’s pledge to continue to make sure oil supplies are sufficient to meet demand.

     
  • Car-nage
     

    In his weekly piece for Arab News, Abdulateef Al-Mulhim takes a look at the extraordinary toll exacted on Saudi roads. With well-engineered roads and streets and access to the latest and safest automobiles, he says, Saudi Arabia still leads the world in highway fatalities. He offers a few ideas about how to gain control over […]

     
  • Jadwa Saudi Chartbook – March 2012 – Banking
     

    Bank deposits rose for the fifth consecutive month in January, with demand deposits accounting for the entire rise to reach almost 60 percent of total bank deposits. Bank excess deposits at SAMA remained very high, giving scope for further lending growth.    

     
  • Jadwa Saudi Chartbook – March 2012 – Trade
     

    According to Jadwa Investment’s March 2012 Chart Book,  “Non-oil exports hit a new all-time high in December owing to greater production of petrochemicals and plastics. Imports also jumped that month and data on letters of credit issued for imports suggest further rises are likely in the months ahead.”  

     

MUST-READS

  • Saudi Arabia: Flynas airline receives the 50th Airbus A320neo

    Saudi low-cost airline Flynas has received its 50th A320neo airliner from Airbus, out of an order of more than 100 aircraft, as it continues its growth and expansion plan.

  • China invested 10x more into Saudi Arabia from the previous year

    China pumped in $16.8 billion in the kingdom as opposed to the $1.5 billion it had pumped in during 2022, stated data from Emirates NBD. The kingdom is targeting over $100 billion in foreign direct investment by 2030, all to diversify the economy.   Overall, the FDI investments in Saudi doubled to $28.9 billion. EmiratesNBD report added that this surpassed the previous peak of $17.6 billion in 2018 but didn’t touch the exuberance of 2008 of $34.3 billion.  

  • Gulf markets slip on Fed rate worries; Saudi climbs

    Most stock markets in the Gulf slipped on Wednesday as investors turned cautious after strong readings on the U.S. economy tempered bets on interest rate cuts by the Federal Reserve this year. Investors' focus is now on Federal Reserve Chair Jerome Powell's speech and March private payrolls and services sector data later in the day to get more clues on the rate outlook.

  • Saudi Arabia’s conservative clerics have a new relationship with the government under Mohammed bin Salman

    Social change in Saudi Arabia has long been deemed impossible due to the influence of the conservative clerical establishment. But as Crown Prince Mohammed bin Salman supports new cultural attractions, experts are wondering whether the power of these clerics has diminished. Raihan Ismail, professor of contemporary Islamic studies at Oxford University, spoke to The World's host Carolyn Beeler about what role the clerics play in Saudi society today.

  • Sullivan postpones trip to Saudi Arabia to discuss Israel mega-deal

    The latest: White House national security spokesman John Kirby said Sullivan was recovering from a "cracked rib," which has affected his ability to travel. Kirby said it was a "minor accident of his own" and "was not caused by anybody." Why it matters: With the war in Gaza ongoing and the U.S. presidential election just seven months away, White House officials admit there's a slim chance they can pull off the historic peace agreement. Sullivan's planned trip indicates President Biden is still determined to pursue it.

  • Saudi Crown Prince MBS’s $100 Billion Foreign Investment Quest Falters

    The short-term reality is more complicated. California-based Lucid is increasingly guzzling Saudi money to stay in business. Last week it got a $1 billion cash lifeline from the kingdom, on top of the $5.4 billion Saudi Arabia’s Public Investment Fund (PIF) has already pumped in. Lucid, which counts the PIF as its top shareholder, had been held up as an example of foreign firms investing in Saudi Arabia’s multi-trillion-dollar “Vision 2030” economic transformation plan. But Lucid’s need for Saudi money is one sign the country’s rushed attempt at reinvention is being paid for out of pocket, with the kingdom relying heavily on its oil riches to entice firms in.

  • Trump Spoke Recently With Saudi Leader

    Former President Donald J. Trump spoke recently with Saudi Arabia’s de facto ruler, Prince Mohammed bin Salman, their first publicly disclosed conversation since Mr. Trump left office in January 2021, according to two people briefed on the discussion who were not authorized to speak publicly about it. It was unclear what the two men discussed and whether it was their only conversation since Mr. Trump’s departure from the White House. Neither representatives for Mr. Trump nor an official of the Saudi government responded to requests for comment.

  • How Saudi Arabia Is Leading the Way for Regenerative Tourism

    When John Pagano arrived in Saudi Arabia in 2018, the country subverted his expectations. "We all paint a picture in our minds of what the Middle East is about," he said. "I found a pristine environment, an archipelago of 90 beautiful islands, and turquoise-colored water. It was truly remarkable." Pagano, who is Canadian, was moving to the Kingdom to take up a role as chief executive officer of Red Sea Global (RSG), a major new developer of ambitious regenerative tourism destinations. Pagano, an engineer by training, has had a long career working on large-scale real estate projects, including the Canary Wharf development in London and the Baha Mar project in the Bahamas. But this was unlike anything he had done before in its sheer scale. "I was persuaded by His Royal Highness and his vision for transforming the country," he said. "I had the opportunity to be part of it."

  • Miss Universe denies Saudi’s participation in 2024 contest

    The Miss Universe Organisation has refuted recent reports that Saudi Arabia is taking part in this year’s contest. The selection process has not been carried out in the kingdom, Miss Universe said, adding that it is undergoing a “rigorous vetting process.” “While Saudi Arabia is not yet among those countries fully confirmed participating this year, we are currently undergoing a rigorous vetting process qualifying a potential candidate to be awarded the franchise and assigned national director to represent,” the statement said.

  • Saudi Accused of Fake Links to King in 1MDB Fraud Loses Bid for Secret Trial

    A Saudi-Swiss businessman accused of faking a mandate from the late king of Saudi Arabia to perpetrate a $1.8 billion fraud lost his bid for a behind-closed-doors Swiss trial after prosecutors said he had nothing to fear. During the first day of Tarek Obaid’s trial on Tuesday, his lawyer tried to argue that he couldn’t testify unless the court was closed to the public.