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“In 2024, Saudi Arabia’s global ranking in container handling improved markedly, as reported by Lloyd’s List. The Kingdom ranked 15th globally, with three of its ports listed among the world’s top 100 ports. Jeddah Islamic Port climbed from 41st to 32nd place, King Abdullah Port advanced from 71st to 70th, and King Abdulaziz Port in Dammam rose from 90th to 82nd.” Saudi ports sector achieves key milestones in 2024 [Hellenic Shipping News Worldwide]

TOP STORY

‘Golden Handshake’ initiative to launch in effort to boost government efficiency

Ministry of Human Resources and Social Development (MHRSD)

Saudi Arabia is planning to offer cash incentives to encourage public sector employees who meet certain criteria to resign.  [more]

 

MORE TOP STORYLINES

Strong post-IPO performance bodes well for Saudi flotations

Via Matt Smith in agbi.com: Recently floated Saudi Arabian companies have thrived since listing on Riyadh’s bourse, thanks in part to astute pricing of initial public offerings and foreign institutional investors’ growing participation. Since the start of 2024, there have been 14 IPOs in Saudi Arabia that raised more than $100 million, according to data compiled by AGBI and London Stock Exchange Group (LSEG). Eleven of these companies trade at above their IPO price as of market close on January 12 and nine are up more than 10 percent. These gains come despite the wider market’s stutters, with the main index near-flat over the past 12 months. This bodes well for this year’s IPOs. Five companies have approval to go public, including Derayah Financial, technology business Ejada Systems, animal feed maker Arabian Agricultural Investments and packaging company United Carton Industries. About 30 more are awaiting the regulatory nod to do likewise.

US reliance on Saudi oil is nearing its endgame

Via Javier Blas in deccanherald.com: The US bought roughly 277,000 barrels a day of Saudi crude last year, down nearly 85% from a record high of 1.73 million barrels a day in 2003. To find lower imports, one must travel back to 1985, when flows briefly plunged as the kingdom cut output to try to push oil prices higher. To find several years of similarly low imports, one must go back all the way to the late 1960s. The collapse in Saudi-US oil flows will deepen further in 2025 as one of the five refineries that has been regularly importing the barrels closes, according to custom documents. Lyondellbasell NV is shuttering its Houston plant this quarter, leaving only four consistent clients for the kingdom’s oil in America. The remaining plants are the Motiva refinery near Houston, owned by the Saudis themselves via their state-owned oil company; a refinery run by Chevron Corp. near Los Angeles, and two plants owned by PBF Energy Inc. in New Jersey and Delaware. Motiva alone accounts for 40% of the Saudi crude the US imported last year. The reduced number of buyers compares with two decades ago, when 25 (and, at times, even more) refineries regularly processed Saudi crude.

Biden says on ‘brink’ of hostage release/Gaza ceasefire deal

Via Laura Rozen in substack.com: President Biden, a week before he is due to hand over power, expressed optimism about prospects for at long last reaching a deal for the release of some of the 100 hostages held by Hamas in exchange for Palestinian prisoners held in Israeli prisons, and a phased ceasefire in Gaza. The basic structure of the three phase deal is one the administration has been pursuing for over eight months. “On the war between Israel and Hamas, we are on the brink of a proposal that I laid out in detail months ago, finally coming to fruition,” Biden said in a valedictory foreign policy speech at the State Department today.

 

MORE ON THE KINGDOM AND BEYOND

Film and beyond: Leapfrogging into the global screen industry

Ongoing transformation in the global screen industry has created an opportunity for GCC countries to establish themselves as prominent players. As the industry grapples with...[By Tarek Matar, Karim Sarkis and Maansi Sagar via strategyand.pwc]

 

GAFT Leads Saudi Negotiating Team in GCC-Indonesia Free Trade Agreement Talks

The delegation consists of nine technical teams covering various sectors, including goods, services, investment, general provisions, e-commerce, intellectual property, government procurement, rules of origin, and...[via spa.gov]

 

US ambitions are a fork in the road for GCC crypto

After years of regulatory uncertainty under both Democratic and Republican administrations, Trump has pledged to protect bitcoin ownership and encourage blockchain...[By Carla Sertin via agbi.com]

 

GCC targets $188bn tourist spending as visitor numbers boom

68.1m international tourists visited the Gulf Cooperation Council (GCC) countries by the end of 2023, according to data issued by the Statistical...[via arabianbusiness.com]

 

GCC should target tariff-free food deals with Trump

Since China is the US’s third-biggest export destination for food and agricultural products after Canada and Mexico, Beijing may retaliate by...[By Martin Keulertz via agbi.com]

 

Will GCC get caught in a global trade war crossfire?

A recent analysis by Capital Economics highlights the consequences of these tariffs and their broader implications for global trade dynamics. The administration's agenda to...[By Issac John via khaleejtimes.com]

 

Saudi Arabia’s non-oil economy records best performance since 2014 in January, says PMI

Saudi Arabia’s non-oil economy started 2025 on a high as business conditions improved substantially. This improvement was largely due to the fastest increase in total...[By Yara Abi Farraj via economymiddleeast.com]

 

Saudi Arabia conducts military exercises with 15 countries at Air Warfare Center

Some of the Kingdom’s prominent military branches are participating in the drills, including forces from the Presidency of State Security and the Saudi Arabian National...[via arabnews.com]

 

Gulf sovereign wealth funds drive $36bn+ mega-deal boom as UAE, Saudi buck global M&A slowdown

Strategic inbound and domestic M&A activity in the region surged 88 per cent year-on-year to reach $36 billion during the first 10 months...[By Tala Michel Issa via arabianbusiness.com]

 

Saudi Arabia cracks down on employers over health insurance violations

The Saudi Arabia Council of Health Insurance (CHI) has announced penalties against several employers for failing to meet mandatory health insurance...[By Roxanne Libatique via insurancebusinessmag.com]

 

Saudi crown prince receives Germany’s president in Riyadh

Saudi Arabia’s Crown Prince Mohammed bin Salman received Germany’s President Frank-Walter Steinmeier at Al-Yamamah Palace in Riyadh on Monday.  The two leaders held an official session...[via arabnews.com]

 

Oil prices: The US is in a ‘delicate dance’ with Saudi Arabia

"Ultimately, we're going to see the seasonal dance: Gas prices are going to go up this spring regardless of tariffs or not, they're going to...[By Julie Hyman and Josh Lipton via yahoo.com]

 

Saudi-PIF backed Umm Al Qura moves ahead with IPO to support $26bn Masar project in Makkah

The IPO proceeds are to be deployed for funding the infrastructure, land settlements, and development of the MASAR Destination, a major Makkah redevelopment project valued...[via arabianbusiness.com]

 

Saudi Arabia champions youth as it drives talent development to fuel Vision 2030

Figures from the General Authority for Statistics released in 2023 show that 63 percent of the Kingdom’s population is under 30 years old, and the government...[By Nadin Hassan via arabnews.com]

 

Saudi Arabia Defers $1.2B Oil Payment By Pakistan

Pakistan has signed an agreement with the Saudi Fund for Development to defer a $1.2 billion payment on the country's oil imports by one year,...[By Alex Kimani via oilprice.com]

 

Saudi Arabia increases defense spending to $78B in 2025

The Kingdom of Saudi Arabia has allocated $78 billion for defense spending in 2025, up from $75.8 billion spent in 2024, Governor of the General...[By Agnes Helou via breakingdefense.com]

 

How PIF is supercharging the new golden age of gaming

Valued at more than $200 billion globally – larger than the film and music industries combined – the gaming industry has evolved far...[via linkedin.com]

 

The Gulf States in a New Syria

While Egypt became the most visible manifestation of the divergence of Gulf approaches, with first Qatar (in 2012) and then Saudi Arabia and the...[By Kristian Coates Ulrichsen via agsiw.org]

 

Arab investments in Egypt’s economy reach nearly $40bn

Foreign direct investments from Arab countries in Egypt totalled $39.5 billion in the final quarter of the fiscal year 2023-24, led by the UAE. The UAE’s...[By Pramod Kumar via agbi.com]

 
 

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