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News & Activities in Saudi Arabia and the Middle East Region.
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SABIC

  • SABIC announced plans to improve its operating efficiencies and is looking to expand business in Asia, the Middle East, and China. Bloomberg. 3-5-16
  • SABIC released its 2015 Sustainability Report highlighting its sustainability achievements throughout the world and how it is setting the standards for innovation and sustainable development in the chemical industry. SABIC. 3-5-16 (View or download the report here)

  ENERGY

  • Saudi Arabia named former health minister Khaled al-Faleh to lead the renamed Ministry of Energy, Industry and Mining. Al Jazeera. 7-5-16
  • Saudi Electricity Co. signed a $900 million loan agreement with the Export-Import Bank of Korea, among others, to help finance construction of a power plant in Shuqaiq, KSA. Zawya. 15-5-16
  • Saudi International Petrochemical Company and Sahara Petrochemicals Company began talks to revive a merger that would create a Saudi Arabian chemicals company with a market value of $2.7 billion US. Bloomberg. 12-5-16

  CONSTRUCTION

  • The Saudi government is allowing Binladin Group to resume bidding for state contracts and to complete other projects. Arab News. 6-5-16
  • In its “Hot & Harsh” technology development program in Saudi Arabia, General Electric is developing localized solutions for enhancements in performance, availability, and reliability to benefit local power, oil, and gas technologies. Trade Arabia. 11-5-16

  AUTOMOTIVE

  • Saudi Arabia’s National Committee for Land Transport has called for a reduction in the sector’s Saudization requirements due to a shortage of workers in the transport industry. Al Bawaba. 11-5-16
  • Automechanika Dubai features 2,017 exhibitors from 58 countries. Saudi Gazette. 9-5-16

  CONSUMER

  • Over the next five years, UAE-based Citymax Hotels plans to open 15 mid-market hotels across Saudi Arabia in Jeddah and Riyadh, as well as secondary locations in areas such as Buraidah, Abha, and Yanbu. Saudi Daily Record. 8-5-16
  • The royal decree creating an entertainment authority is expected to boost Saudi Arabia’s cultural life, create a variety of jobs from the opening of cinemas and entertainment centers, and attract investors. Arab News. 10-5-16
  • The Ministry of Labor and Social Development revealed a national strategy for women’s employment that will provide more than 50,000 job opportunities. Arab News. 16-5-16

TRADE & FOREIGN DIRECT INVESTMENT

  • A decline in exports has slowed down business expansion in Saudi Arabia to the lowest figure recorded since 2009. AMEinfo. 4-5-16
  • Saudi Arabia’s King Salman appointed new ministers and created two new commissions within the Saudi government. Al Bawaba. 8-5-16

FOREIGN POLICY

  • Deputy Crown Prince Mohammed bin Salman met with Qatar’s Emir Sheikh Tamim bin Hamad Al-Thani in Doha to discuss ways to enhance bilateral relations between the two countries. Arab News. 10-5-16
  • Saudi Arabia is interested in supporting an international counterterrorism training center in Chechnya to prepare anti-terror specialists to work in the KSA and other Arab countries. Arab News. 11-5-16
  • The Saudi Fund for Development deposited $60 million into the account of the Palestinian Finance Ministry to support the Palestinian National Authority. Arab News. 13-5-16
  • U.S. Secretary of State John Kerry met with Saudi Arabia’s King Salman in Jeddah to discuss a “cessation of hostilities” agreement between Syrian government forces and rebels and to increase humanitarian aid deliveries to besieged areas. Gulf Business. 15-5-16
  • The Saudi Ministry of Interior is set to launch the National Center for Joint Security Operations, the biggest and most modern security command center in the Middle East. Al Arabiya. 16-5-16

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