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|By Alaa Alghamdi| Military force is the most extreme example of use of power. There are many alternatives. Soft uses of power, such as appeals, firmer uses that injure; and between these two there is a large space for diplomacy, media discussions, and more. Regardless of whichever tactic used, credibility comes from the ability to start a real confrontation. Simply the ability to resort to military tactics can be enough to dissuade, to prevent explosive situations and all-out war. Building this kind […]

|By Alaa Alghamdi| Tensions are running high in the Middle East as the relationship between Saudi Arabia and their neighbour Lebanon starts to strain. Saad Hariri’s return after five years has shown to onlookers that Lebanon is a country not at ease with itself, with mixed feelings being vocalised – both by his supporters and his enemies. Saudi Arabia has for many years served Lebanon by financing various sectors of society in the country that divides […]

|By Alaa Alghamdi| Last week saw the opening of the Riyadh Book Fair, just a month after the Janadriyah festival. Considered no ordinary exhibition, there were hundreds of visitors pictured queuing to enter the fair, with sales figures expected to far surpass those of previous years. There are 500 local and international publishers displaying at the fair, with all topics covered – from science and technology, literature, history, languages through to politics and religion – […]

Saudi Arabia may further ease restrictions on foreign ownership in the economy and overhaul one of the world’s most restrictive visa systems as the kingdom seeks to draw investors to help reduce its reliance on oil exports. The world’s biggest oil exporter is considering allowing foreigners to own 100 percent of a company in at least four more industries, Mohanud Helal, secretary general of the Economic Cities […]

|By Matein Khalid| The collapse in Brent crude oil below $30, a 20% fall in the Tadawul share index in January 2016’s global equity bloodbath, the cut in fuel subsidies and geopolitical risk escalation in the Middle East has spawned speculation in financial markets that Saudi Arabia will devalue the kingdom’s riyal, now pegged at 3.75 against the US dollar. Senior princes of the royal family and […]

The world’s biggest oil producer is spending as much now as it did before the crash in crude prices, signaling no surrender in Saudi Arabia’s battle with rivals. Saudi Arabian Oil Co. is maintaining investment in oil and natural gas projects and has formulated a new strategy in response to cheaper crude as it studies options to sell shares in its parent company and downstream refining and chemical […]

SAUDI ARABIA. 2015 has established itself as a record-breaking year for cross-border M&A post-financial crisis, according to a Cross-Border M&A Index* by global law firm Baker & McKenzie. With corporate deal-making activity at record highs, those companies are also executing record levels of cross-border transactions, a global trend reflected in the Middle East. Overall M&A in 2015 reached US$4.28 trillion, of which 39% were cross-border in nature […]

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Senior Saudi and Iranian figures clashed behind closed doors at a private meeting convened by the World Economic Forum in Davos this week to try to promote peace in Syria, participants said. The barbed exchange between Saudi Prince Turki al-Faisal and Iranian Foreign Minister Javad Zarif at an invitation-only meeting on Wednesday underlined the hostility between the two Gulf rivals, who are waging proxy wars in Syria, […]

Pressured by plunging oil prices and costly wars in the Middle East, Saudi Arabia moved to stamp out speculation that it might be forced to break the link between its currency and the dollar. Authorities this week ordered banks to limit traders’ ability to bet against against the riyal, whose peg to the dollar has been a bulwark of the kingdom’s economic and financial stability since its […]

As Iran emerges from a decade of international sanctions, its Gulf Arab rivals are facing their toughest economic predicament since the global financial crisis. Governments across the six-nation Gulf Cooperation Council are taking unprecedented measures to counter the slump in oil prices, curtailing some of the world’s most generous welfare systems to plug widening budget deficits. In some countries, contractors are facing delays in government payments, while […]

Iran’s release from sanctions testifies to its new relationship with the United States as it moves from pariah state to regional power, a status that could come at the cost of Saudi Arabia, Washington’s chief Arab ally. Enemies and allies alike must adjust to Iran becoming an uninhibited power broker in the Middle East after its nuclear deal with world powers and Saturday’s lifting of sanctions that […]

Stocks across the Middle East tumbled as the easing of sanctions against Iran raised the prospect of a surge in oil supplies to a market already reeling from the lowest prices in more than a decade. Shares in Tehran gained. Saudi Arabia’s Tadawul All Share Index dropped 5.4 percent to its lowest level since March 2011. Abu Dhabi’s ADX General Index fell into a so-called bear market. The Bloomberg […]

|By Arabian Staff| Additional information forthcoming from state-owned Saudi oil giant Aramco suggests that the proposed IPO may be restricted to refining and other similar activities rather than the parent company as a whole. Aramco clarified in a statement the other day that while the company was studying options including a full initial public offering, one of the options under consideration is “listing of a bundle” of […]

|By Arabian Post Staff| Heightening speculation about an impending change in Saudi Arabia’s currency policy has forced the kingdom’s monetary authorities to issue a clarification to the effect that no changes were being contemplated in Saudi riyal’s 30-year old dollar peg. It is the second time in the past four months that Saudi Arabia is pledging allegiance to the dollar after bets for a devaluation seemed to […]

Saudi Arabia is considering its own Big Bang. The world biggest crude exporter is considering selling a stake in its state-owned company, which controls more than a tenth of the global oil market. A potential initial public offering is under review for Saudi Arabian Oil Co., also known as Aramco, Mohammed bin Salman, the kingdom’s deputy crown prince, said in an interview with The Economist. A decision […]

At almost any other time, an escalating diplomatic conflict between OPEC members Iran and Saudi Arabia would mean a spike in oil prices. That the rally this time couldn’t be sustained shows just how abnormal things are in the oil market. Brent crude has fallen 0.5 percent this week as a global supply glut and the slowest Chinese growth in a generation trumped mounting strife between the […]

Oil gained for a second day as Saudi Arabia cut ties with Iran a day after its embassy in Tehran was attacked to protest the Saudis’ execution of a prominent Shiite cleric. Futures rose as much as 3.5 percent in New York, extending Thursday’s 1.2 percent advance. Iran’s Supreme Leader Ayatollah Ali Khamenei warned of repercussions and protesters armed with rocks and firebombs attacked the Saudi embassy […]

Iran’s Supreme Leader Ayatollah Ali Khamenei said Saudi rulers will face repercussions after the kingdom executed an outspoken Shiite cleric. “The divine hand of revenge will take the Saudi politicians by the throat,” Khamenei, Iran’s highest authority, said on Sunday. Cleric Nimr al-Nimr “was neither encouraging people to armed protests, nor plotting secretly, all he did was to openly criticize,” said Khamenei, who frequently lashes out at […]

Saudi Arabia’s stock exchange, the Arab world’s largest, aims to sell shares in an initial public offering in 2018. The Saudi Stock Exchange – Tadawul seeks to offer shares after completing a “readiness exercise and obtaining the necessary approvals,” according to a statement on its website on Thursday. One of the world’s biggest petrochemicals manufacturers, Saudi Basic Industries Corp., trades on the Tadawul All Share Index. The gauge closed […]

At the heart of Korea’s Onsan Refinery lies a street called “A.I. Naimi Road,” an homage to Saudi Arabia’s oil minister. The reason: state-owned Saudi Arabian Oil Co. holds a 65 percent stake in the complex. Taking a controlling interest last year in South Korea’s third-largest refinery highlights the shifting dynamics of the oil business. With crude prices down by more than half in the past two […]

|By Dr Alaa Alghamdi| Dear Mr. Friedman, While I would like nothing better than to thank you for your concern for our youth and our country, as expressed in your Nov. 25 piece in the New York Times, I find I cannot in good conscience do so. You made certain observations during your stay in Riyadh, observations which no doubt may sound fresh and even enlightened to […]

Saudi Arabian banks are feeling the squeeze from falling oil prices. The rate at which banks in the biggest Arab economy lend overnight to each other jumped the most in seven years in November, the fifth straight month of increases, following a slump in deposits the previous month that forced lenders to seek more funds from each other. “The drop in deposits in October, in absolute amount, […]

|By TAP Staff| Orbital ATK, Inc. (NYSE: OA), a global leader in aerospace and defense technologies, announced today the establishment of a jointly-owned subsidiary in Riyadh, Saudi Arabia, to support the company’s growing regional presence. The primary focus will be to strengthen Orbital ATK’s existing alliances in the country and collaborate with the Kingdom of Saudi Arabia to help it realize its self-sufficiency objectives in national security, […]

|By TAP Staff| Dubai developer Limitless has failed to repay over $500 million, which it had promised to pay banks from the proceeds of a land sale in Saudi Arabia as part of the debt restructuring deal with the banks and this has apparently caused concern among the banks. Last week Bloomberg had reported that the developer should have paid about $517 million to banks more   than   […]

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