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Saudi Arabia

August 15, 2024

Riyadh 12:57 am

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Co-founder and Ceo of Starz Play Maaz Sheikh poses in his office in Dubai on April 23, 2019. Streaming services in the Middle East are competing for Arab audiences with US giant Netflix set to release its first Arabic production in June, chasing a slice of a potentially lucrative market. (Photo by GIUSEPPE CACACE / AFP) (Photo by GIUSEPPE CACACE/AFP via Getty Images)

Netflix in crosshairs as Middle East streaming competition mounts

Samuel Wendel

In Washington, DC, reporting on regional business and tech

A man walks out of Bank Station, in The City financial district, in central London, on June 12, 2024. (Photo by BENJAMIN CREMEL / AFP) (Photo by BENJAMIN CREMEL/AFP via Getty Images)

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.

Paul Szumilewicz

With Paul Szumilewicz

Nomo Bank Chief Revenue Officer

A picture taken on July 14, 2022, ahead of a visit by the United States president to Saudi Arabia, shows hostesses in a car manufactured by US electric vehicle maker Lucid Group.

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.

Adam Lucente

By Adam Lucente , Jack Dutton

Russian arctic tanker

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.

Paul J. Saunders

By Paul J. Saunders

In Washington, DC, reporting on Russia in the Middle East

Latest News

Analysis

Saudi Arabia lures in Turkey’s defense giants as its military industry grows

Royal Saudi Air Force Panavia Tornado and F-15 Eagle fighter aircraft fly over during an airshow marking Saudi Arabia's 93rd National Day celebrations in Riyadh on September 23, 2023. (Photo by Fayez Nureldine / AFP) (Photo by FAYEZ NURELDINE/AFP via Getty Images)

Francesco Schiavi

By Francesco Schiavi

Saudi Aramco CEO predicts 1.6-2M bpd oil demand rise after sharp price fall

PEDRO PARDO/AFP via Getty Images

Saudi PIF signs deals worth up to $50B with six Chinese institutions

PEDRO PARDO/AFP via Getty Images

Saudi Arabia's SABIC sees second quarter profit rise by 85% to $580M

A picture taken on Jan. 17, 2016, shows the headquarters of Saudi Basic Industries Corporation (SABIC) in the Saudi capital, Riyadh.

US election drama raises stakes for Mideast economic powers eyeing 2025

KALAMAZOO, MICHIGAN - JULY 17: U.S. Vice President Kamala Harris attends a moderated conversation with former Trump administration national security official Olivia Troye and former Republican voter Amanda Stratton on July 17, 2024 in Kalamazoo, Michigan. (Photo by Chris duMond/Getty Images)

Sabena Siddiqui

In Karachi, reporting on South Asia, Middle East, Iran

Sebastian Castelier

In Dubai, reporting on regional business

Kate Dourian

In Dubai, reporting on energy

Benjamin Houghton

In Durham, reporting on China in the Middle East

Mohammed Soliman

In Washington, DC, reporting on Gulf politics

Karen Young

In Washington, DC, reporting on regional energy

Saudi-UK tech hub

Interview

Saudi Arabia's giga-projects to offer 'testing ground' for British technology

Saudi startups and fintech firms are looking to tap into the United Kingdom's $1 trillion tech market.

Matt Jones

With Matt Jones

Saudi British Joint Business Council Project Officer

(L to R) EU High Representative for Foreign Affairs and Security Policy Josep Borrell shakes hands with Saudi Arabia's Foreign Minister Prince Faisal bin Farhan al-Saud during a plenary session titled "Transforming for a New Era", during the Doha Forum in Qatar's capital on March 26, 2022. (Photo by KARIM JAAFAR / AFP) (Photo by KARIM JAAFAR/AFP via Getty Images)

What does EU visa relaxation for Saudi, Bahraini, Omani citizens mean?

Under the new rules, Bahraini, Omani and Saudi Arabian nationals will be eligible for multiple-entry visas, allowing them to visit the Schengen area (the EU’s 27 member states as well as Bulgaria and Romania) and move freely between them.

A man walks past a stranded car on a flooded street in Dubai following heavy rains on April 18, 2024.

Dubai's record rainfall spotlights Gulf’s troubled relation with water

The Gulf’s longterm love–hate relationship with water lies behind a year and a half's worth of rain that fell on Dubai in 24 hours. It includes climate change-induced shifting rainfall patterns, groundwater extractions and unsustainable consumption.

United Arab Emirates

TOPSHOT - Saudi elite aerobatic flying team of the Royal Saudi Air Force Saudi Hawks performs during the aviation event 11th Athens Flying Week over Tanagra air base in Schimatari, north of Athens, on September 3, 2023. (Photo by Theophile Bloudanis / AFP) (Photo by THEOPHILE BLOUDANIS/AFP via Getty Images)

9% spike in Mideast military spending driven by Saudi Arabia, Israel, Turkey

Military spending in the region increased by its largest percentage in a decade, in part due to the Gaza war, according to the Stockholm International Peace Research Institute.

Muslim worshippers performing the umrah pilgrimage walk between the Marwa and Safa hills at the Grand Mosque on the first day of the holy fasting month of Ramadan, Mecca, Saudi Arabia, March 23, 2023.

After 9 years, first Iranian pilgrims head to Saudi Arabia for umrah

The flights carrying Iranian pilgrims are the latest sign of rapprochement between Saudi Arabia and Iran after restoring ties last year.

Nuclear energy ambitions near inflection point in the Middle East

Samuel Wendel

In Washington, DC, reporting on regional business and tech

Saudi Foreign Minister Prince Faisal bin Farhan (L) and his Pakistan's counterpart Ishaq Dar arrive to address a joint press conference at the foreign ministry in Islamabad on April 16, 2024.

As Iran, Israel trade fire, Saudi Arabia and Pakistan try to forge stability

As Prince Faisal bin Farhan made his way to Pakistan with a high-powered delegation to discuss energy and economic ties, tension in the Middle East overshadowed the discussions.

Can be credited "Courtesy of the Middle East Democracy Center"

2 American activists jailed in Saudi Arabia return home after travel ban

Dual citizens Salah al-Haidar and Bader al-Ibrahim are back on US soil, but the Biden administration is still pushing for the release of several other Americans held under travel bans.

KHALED DESOUKI/AFP via Getty Images

Saudi Arabia ramps up regional diplomacy to avert Iran-Israel war

Saudi Arabia has reiterated calls for calm in the region amid rising tensions in the wake of the Iranian attack on Israel this week.

Saudi Defense Minister and Deputy Crown Prince Mohammed bin Salman gestures during a press conference in Riyadh, on April 25, 2016.

Analysis

After Neom cut, Saudi Arabia expected to scale back more Vision 2030 plans

Authorities had originally planned for 1.5 million residents to live in The Line part of Neom, but they scaled back their ambitions to around 300,000.

In Bristol, reporting on regional business, climate change, AI, tech

White House national security adviser Jake Sullivan.

White House postpones top delegation to Saudi Arabia on Israel normalization

US national security adviser Jake Sullivan's visit to Saudi Arabia has been postponed due to an injury.

Emloyees walk inside the Maaden Aluminium Factory in Ras Al-Khair Industrial area near Jubail City, 570 kms east of the Saudi capital Riyadh, on November 23, 2016.

Saudi Arabia-South Korea ties grow with industry push, pivot east

Saudi Arabia is seeking to become a hub for traditional and electric vehicles, and the kingdom’s relations with South Korea are growing in several sectors.