Netflix in crosshairs as Middle East streaming competition mounts Samuel Wendel In Washington, DC, reporting on regional business and tech
Interview Nomo Bank sees increasing appetite for Islamic investments, ETFs Paul Szumilewicz, chief revenue officer at UK-based Nomo Bank, said there is a growing demand from the bank’s clients to invest in exchange-traded funds (ETFs) — a pre-defined group of bonds, stocks or commodities poured into a fund and listed on the stock exchange. With Paul Szumilewicz Nomo Bank Chief Revenue Officer
Analysis Will Saudis’ $1.5B cash infusion help Lucid compete with Tesla? The Saudi-backed electric vehicle maker Lucid has never been profitable, but the kingdom remains strategically committed to it amid the growing EV market in the Gulf. By Adam Lucente , Jack Dutton
Analysis What to expect as Russia's oil and gas woes impact Middle East As Iran's expected retaliation against Israel threatens to upset geopolitical dynamics, Russian gasoline export restrictions are placing pressure on global oil and gas markets from another angle. By Paul J. Saunders In Washington, DC, reporting on Russia in the Middle East
Analysis Saudi Arabia lures in Turkey’s defense giants as its military industry grows By Francesco Schiavi
Saudi Arabia’s PIF in talks to inject $250M into Chinese car maker The kingdom is looking to develop its electric vehicle market as its economy diversifies away from oil. Saudi Arabia
Oil prices rise after Saudi Arabia, Russia extend output cuts The Kingdom has maintained its oil output cut of 1 million barrels per day since July in an attempt to stabilize the market and prop up prices amid weakened demand. Saudi Arabia
Saudi defense chief concludes US trip, seeks security assurances as Gaza rages Prince Khalid bin Salman’s preplanned trip included meetings with top US officials. Saudi Arabia is concerned that the war between Israel and Hamas could hurt its interests. Gulf
Saudi Aramco, QatarEnergy, UAE’s Emirates among Fortune Arabia top 10 The list of 500 companies from 22 Arab countries posted around $1.6 trillion in revenues in 2022, yielding a net profit of $343 billion. Saudi Arabia
Saudi Arabia's oil cuts weigh heavy on economy, GDP tanks by 4.5% The kingdom's economy shrunk by the most since the COVID-19 pandemic in 2020 due to energy measures. Saudi Arabia
Tourism tipping point: Middle East travel boom delivering economic boost as Israel-Hamas war threatens recovery The outbreak of fighting between Israel and Hamas in October 2023 has undercut a fledgling tourism rebound in the Holy Land after years of struggle.
Saudi Arabia set to host 2034 World Cup after Australia withdraws The kingdom is heavily investing in soccer, golf, MMA and other sports across the world. Gulf
Saudi Arabia explores women’s buying power with 30% entering work force To expand its own economy, Saudi Arabia is joining a global structural shift toward multiple-wage households as women move into more and more careers that used to be off-limits. Saudi Arabia
Saudi Aramco, South Korea's Hyundai sign $2.4B contract to develop gas field The contract was signed during South Korean President Yoon Suk Yeol’s visit to Saudi Arabia. Saudi Arabia
Saudi crown prince announces esports ‘world cup’ The move follows significant Saudi investment in both video games and traditional sports. Gulf
Renewable energy industry not ready to shoulder global demand, Aramco says The boss of the world's largest oil company doubled down on investing more in oil and gas, despite Greta Thunberg and other climate activists protesting outside the conference he was speaking at in London. Saudi Arabia
Saudi Arabia set to begin Middle East’s first hydrogen train trials Saudi Arabian Railways, in partnership with French manufacturer Alstom, will begin to operate the world’s first hydrogen-powered passenger train in Riyadh later this month. Saudi Arabia