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  • Houthi Rebels Claim Capture of Post Inside Saudi Border
     

    Officials from Yemen’s Shiite Houthi militia say their fighters and allied troops have captured a Saudi military post in the border region of Jazan, according to reports.  According to a report in the Associated Press, the claim has been denied by a Saudi military spokesman. However, a 15-minute video clip posted on social media networks and aired late […]

     
  • Deputy Crown Prince Mohammed bin Salman Arrives in China, Meets with Top Chinese Officials to Discuss ‘Vision 2030’
     

    Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman and a delegation including top ministers and other officials are in China this week for talks aimed at pushing the Kingdom’s Vision 2030 broad economic reforms. The visit to global economic powerhouse China, like the Deputy Crown Prince’s visit to the United States in June, hopes to “showcase […]

     
  • Ministry of Labor Moves to Implement Saudisation of all Telecom Shops
     

    The Saudi Ministry of Labor and Social Development continues to move aggressively to implement its goal to Saudize the telecom sector – specifically workers in mobile telephone shops – by September 2, 2016. Minister Mofrej Al-Haqbani had previously stated that, “We have no intention of postponing the implementation of the decision or extending the grace […]

     
  • Saudi CMA Presses on Adoption of International Financial Reporting Standards
     

    The Saudi Capital Market Authority (CMA) continues to press forward it’s efforts to make the Saudi stock market (Tadawul) more attractive to foreign investors.  Earlier this month the CMA approved amended rules for Qualified Foreign Investors by lowering the asset qualifications as well as adjusting upwards some key ownership limitations.  For more on those changes […]

     
  • As Entertainment Industry Develops, A ‘Great Opportunity’ for Cinema Business Awaits in Saudi Arabia
     

    With Deputy Crown Prince Mohammed bin Salman’s recent visit to the United States that included meetings with several top entertainment industry executives in Silicon Valley, it is quite possible that entertainment options in Saudi Arabia could be dramatically greater in a decade. But what will that look like? The Vision 2030 document states that the Kingdom’s leaders “consider culture […]

     
  • Is Saudi Arabia’s Economy Turning the Corner?
     

    Saudi Arabia’s non-oil private sector may be showing signs of stabilization after roughly two years of uncertainty and significant economic policy changes, according to new data. A recently published Saudi Arabia PMI by Emirates NBD shows growth in Saudi Arabia’s non-oil private sector accelerated to an eight-month high in July. “July’s survey is encouraging as it suggests […]

     
  • Reuters Poll: Non-Oil Business Activity Slows in Gulf as Governments Tighten Spending
     

    A recently released Reuters poll of economists finds that non-oil business activity is slowing in the Gulf because of government austerity measures, causing some to revise their economic forecasts down for the region. In 2015, growth in the GCC “began to lose steam as governments reduced spending to limit big budget deficits caused by cheap oil,” […]

     
  • Aramco Names Ibrahim Al Buainain as Chief Executive of Its Trading Arm
     

    Saudi Aramco has named Ibrahim Al-Buainain as chief executive of its trading arm, the company said on Tuesday, as Al-Buainain’s star continues to rise within the ranks of the energy giant. Ibrahim Al-Buainain’s promotion to CEO of Saudi Aramco Trading takes effect this month. In November 2014, Aramco named Al Buainain as head of Saudi […]

     
  • New Saudi Fund Created by Apicorp and Bahri Seeks to Create Biggest Tanker Fleet
     

    A venture between Arab Petroleum Investment Corporation (Apicorp) and National Shipping Co. of Saudi Arabia (Bahri) “will create the world’s largest fleet of oil tankers and support the kingdom’s plan to boost crude exports,” according to a report in Bloomberg, which cited comments from Dr. Khalid al-Falih. The venture will create a $1.5 billion fund […]

     
  • Construction Begins on ‘World’s Largest’ Gas Complex in Jazan, Saudi Arabia
     

    Construction has begun on a $2.1 billion industrial gas complex in Jazan, Saudi Arabia, which is slated to become the largest such facility in the world. The industrial gas complex will serve Saudi Aramco’s Jazan refinery and terminal when complete, and will require 600MW to operate, according to a report in Gulf Business. The contract for the […]

     

MUST-READS

  • Business Incubators
    Saudi initiative brews business success

    Lateefa al-Waalan just wanted to make Arabic coffee simple: no more labourious mixing of ingredients and careful attention to boiling. Supported by a Saudi programme to foster, or “incubate”, technology-based businesses with high growth potential, she developed a machine to produce Arabic coffee at the push of a button — the first of its kind.

  • Family-Business Succession and Saudi Inc.: Saudi Arabia’s Royal Succession Takes a Leap Forward

    There is one point at which family businesses are especially vulnerable, though -- when leadership is transferred. There's a whole academic literature on family-business succession, the basic conclusion of which is: it's hard. Do you go with the eldest son who has been groomed since birth to take over, or the younger daughter who's twice as smart? What if the kids don't get along? What if they're not interested in business? What if they can't control their anger around macadamia nuts?

  • Kuwait
    Chevron Said to Cut Output From Saudi-Kuwaiti Oil Fields – Bloomberg Business

    Daily output dropped to 180,000 barrels from about 200,000 barrels last month and 225,000 barrels in October, said the people, who asked not to be identified because the matter isn’t public. Two rigs are halted and more may be idled in the next few months because Saudi Arabian Chevron Inc. faces problems operating wells due to a lack of personnel after Kuwait stopped issuing and renewing work permits in October, they said.

  • Women
    Businesswomen Navigate Traditions in Saudi Arabia

    That makes for an interesting backdrop, as more women are traveling to Saudi Arabia on business these days. And they are encountering the laws that limit the social and physical mobility of women in the kingdom, where it is illegal for a woman to drive a car.

  • Labor
    Business leaders: New Nitaqat quotas ‘difficult to implement’

    Businesspeople say the new Saudization quotas the Labor Ministry is introducing on April 20 would be difficult to implement because of a lack of skilled Saudi workers in the job market, with some calling for a delay of between one to three years.

  • Economy
    Saudi Nov Non-Oil Business Growth Slows To Six-Month Low

    Growth in Saudi Arabia’s non-oil private sector slowed to a six-month low in November as output and new orders softened, but activity remained robust overall, a survey of companies showed on Thursday.

  • ISIS Funding
    Islamic State: The Business of the Caliph

    The "Islamic State" terrorist group wants to present itself as a state but is little more than a mafia regime. It may be rich but the "caliphate" is in a state of crisis, as an investigation in seven countries shows.

  • Business Optimism Index
    Saudi business optimism after strong GDP results

    Saudi business optimism in both the hydrocarbon and non-hydrocarbon sectors brightened up in the fourth quarter of 2014 from the previous quarter, fueled, among others, by expectations that the Saudi GDP would grow 4.6 percent this year despite weakening of oil markets since mid-year 2014.

  • Saudi Falconry
    Business meets pleasure in Saudi falconry

    A falcon’s price depends on its beauty and color. A white falcon with bluish–black eyes is the most in demand, especially if it also has a white head, Labdah says. The Peregrine falcon is the next most-valuable, ranging from 70,000–250,000 riyals (19,000–67,000 dollars). The cheapest, a smaller type of the Lanner Falcon (known as the “Wakari” in Arabic), never fetches anything more than 5,000 riyals (1,300 dollars). The Lanner and Peregrine falcons migrate yearly from Russia and Mongolia, which have the best types of falcons in the world, Labdah maintains.

  • Healthcare
    Indian businessman to invest in Saudi pharma sector

    A UAE-based Indian billionaire will make investments worth SR1 billion in healthcare and pharmaceutical manufacturing sector in the new Jazan industrial city.