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Jarir is one of the stock market’s most direct plays on Saudi Arabia’s rapid population growth and rising incomes, which is why its shares are up 75 per cent since end-2012 compared to a 40 per cent gain for the main market index.
The company, which sells books, office and art supplies, computers and some other electronics, has grown from a single store in a Riyadh street in 1979 into a chain with 36 stores. Thirty-one of them are inside Saudi Arabia with the remainder in Abu Dhabi, Kuwait and Qatar.
Turmoil in the world’s hydrocarbon heartland is not good news for anyone, including the United States. Oil has been a fungible commodity for decades and gas increasingly so as a result of the rising share of LNG in the global gas market. Major disruptions to supply from the Arab world would have negative economic consequences even for an energy independent America.
Saudi Arabia and Kuwait halted production at a jointly run oil field late this week, a move that could help ease a supply glut that has pushed global prices down 25 percent. The 300,000-barrel-a-day Khafji field, located in the neutral zone between the two countries, was being shut because of environmental concerns, a person familiar with Saudi Arabian oil policy said yesterday, who asked not to be identified because the information isn’t public. The shutdown comes as Saudi Arabia and other OPEC members face increasing pressure to scale back production while supply expands from the U.S. and other countries and demand growth slows. Asia’s oil market has become particularly flooded as the U.S. imports fewer cargoes.
While the Islamic State is ramping up recruitment around the world, the public is against them in key "coalition" countries, which include Lebanon, Saudi Arabia and Egypt. A survey—conducted by a commercial firm for The Washington Institute of Near East Policy—polled 1,000 residents of each of those three nations. The interviews were conducted face-to-face by "experienced local professionals."
Afghan forces have arrested the son of the feared Haqqani network's founder along with a militant commander in charge of suicide attacks, a blow to the Taliban-linked Islamist group, Afghanistan's intelligence service said Thursday.
The question is whether such a diverse coalition, whose members have differing objectives, can be herded into agreement on a coherent strategy.
Three years after Western military intervention helped topple Col Muammar Gaddafi, many believe Libya is rapidly turning into a failed state. There are two rival governments, and the parliament elected in June has been forced to flee from hostile militias - to a grey concrete 1970s hotel near the Egyptian border.
The continued build-up of deposits is a positive when the banks can and must play a bigger role in driving economic development. There have been structural developments to accelerate the momentum in certain areas, for example, the mortgage law. But, in general, the banks are essential for driving private sector-led development in an economy that has historically relied very heavily on government provision and investment.
He had told The Associated Press earlier Wednesday that he would be in the courtroom for the verdict. He could not be immediately reached again for comment.
France's foreign minister said on Tuesday that Paris should recognize a Palestinian state only if doing so would help achieve peace, not as a symbolic gesture.
