BACK TO REPORTS

News & Activities in Saudi Arabia and the Middle East Region
Click on the links provided to read more

ENERGY

  • Some of Saudi Arabia’s largest industrial companies estimate changes to 2016 pricing for fuel, electricity, and natural gas feedstocks will negatively impact their earnings. Arabian Business. 2-1-16

  CONSTRUCTION

  • GE won a contract worth nearly $1bn from the Saudi Electricity Company to provide engineering, construction, and gas turbine services for the 1,390-MW Waad Al Shamal combined cycle power plant. Al Bawaba 4-1-16
  • Saudi Aramco signed a second contract to build 791 homes in Dhahran as part of its plans to build more than 8,000 homes for its employees, plus schools and community facilities.Zawya. 6-1-16
  • Saudi Arabia’s Al-Afandi Group plans to build the largest fully integrated solar panels factory in the Middle East in Yanbu, which will be able to produce solar panels to generate 120 MW of electricity per year—the equivalent of 450,000 solar panels.Trade Arabia. 11-1-16

  AUTOMOTIVE

  • Mohamed Yousuf Naghi Motors, the official importer for MBW Group in Saudi Arabia, opened the country’s first BMW Motorrad (motorcycle) showroom in Jeddah, with plans to open two more in KSA by 2017. AMEinfo. 2-1-16

  CONSUMER

  • Blackberry’s PRIV, the company’s first smartphone powered by Android, will be available in Saudi Arabia retail stores in mid-January. AMEinfo. 31-12-15
  • The GCC said that Gulf governments are set to impose unified taxes of 50% on soft drinks and 100% on energy drinks and tobacco as early as 2017.Arabian Business. 11-1-16
  • Swiss watchmaker Piaget opened its first boutique in Riyadh in the Kingdom Tower, its eighth boutique in the region. Saudi Daily Record. 10-1-16

SABIC

  • National Methanol Co., also known as Ibn Sina and 50% owned by SABIC, will start production from a 50,000-tonne-per-year polyacetyl plant by early 2017.Zawya. 11-1-16
  • The company introduced a transparent conductive polycarbonate film suitable for consumer electronics, automotive interiors, and healthcare applications. Desk Engineering. 5-1-16

TRADE & FOREIGN DIRECT INVESTMENT

  • Saudi Aramco raised the February price for its Arab Light grade of crude for Asian customers by $0.60 per barrel versus January to a discount of $0.80 per barrel to the Oman/Dubai average, while keeping its price to the United States unchanged. CNBC. 5-1-16
  • Saudi Arabia’s Deputy Crown Prince Muhammad bin Salman announced that the possible sale of Saudi Aramco is being considered. Al Bawaba. 10-1-16
  • In coordination with other countries in the region and the Gulf Cooperation Council, Saudi Arabia plans to gradually introduce a value-added tax over the next two years, with an ultimate goal of a 5 percent tax rate. Arabian Business. 30-12-15
  • Foreign companies will be allowed to invest in Saudi airports without the need for local partners, with local investments capped at 25 percent. Trade Arabia. 5-1-16
  • After the biggest mass execution in Saudi Arabia in decades, Germany plans to re-examine its export of arms to Saudi Arabia. Reuters. 4-1-16
  • Because of the ban on cultivation of green fodder in Saudi Arabia, dairy supplier Almarai Co. purchased 1,790 acres of land in California to supply its business with alfalfa. Reuters. 10-1-16
  • Indian pharmaceuticals Aurobindo will build its first manufacturing facility in King Abdullah Economic City’s Industrial Valley. Saudi Daily Record. 11-1-16

FOREIGN POLICY

  • Following its execution of Saudi Shiite cleric Nimr Al-Nimr for terror acts, Saudi Arabia severed its ties with Iran, halting trade and air links to Iran but still welcoming Iranian Haj and Umrah pilgrims to visit the holy sites in KSA. Huffington Post. 5-1-16
  • Coming a day after Saudi forces reportedly bombed a maternity hospital and gas company in Sana’a, Saudi Arabia launched multiple raids in the Marib province of Yemen. Al Bawaba. 5-1-16

Upcoming & Relevant Events / Forums / Summits: