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

  • SABIC and Saudi Aramco signed an agreement to conduct a feasibility study on building a crude-oil-to-chemicals complex in Saudi Arabia. SABIC. 28-6-16
  • Through its joint venture with Korea’s SK Global Chemical, SABIC is offering new metallocene-based polyolefin specialty elastomer and plastomer copolymers. Plastics Technology. 7-7-16
  • Toyota’s 86 GRMN sports car is the first production vehicle to feature a rear quarter window featuring SABIC’s LEXAN polycarbonate and SABIC’s EXATEC™ coating solution. Zawya. 7-7-16

   ENERGY

  • Closely linked to Vision 2030, atomic and renewable energy will play a key role in the KSA national energy program to support economic diversification. Arab News. 1-7-16
  • Saudi Arabia's Acwa Power could soon bid on solar energy projects in the Kingdom as a low-cost solution. Forbes Middle East. 4-7-16
  • Leaders in Saudi Arabia and Germany announced that they are planning to ratify the United Nation’s new pact to slash greenhouse gas emissions by the end of 2016. Climate Change News. 5-7-16
  • A Saudi startup has developed a new system to clean solar panels from dust and sand, enabling them to run at peak capacity. Forbes Middle East. 5-7-16
  • Crude prices gain as Saudi Arabia sees market becoming more balanced. Fidelity Investment Research. 4-7-16
  • Russia has overtaken Saudi Arabia as China’s top oil supplier, with Russian oil exports to China jumping almost 42 percent from January to May. Saudi Daily Record. 29-6-16
  • The United States now has larger recoverable oil reserves than Saudi Arabia or Russia. Los Angeles Times. 5-7-16

   CONSTRUCTION

  • As a result of Saudi rail and airport infrastructure development, the Saudi construction industry is predicted to grow 7.05 percent annually until 2020. Arabia Now. 11-7-16
  • To address the affordable housing shortage, Saudi Arabia’s Ministry of Housing is implementing its first public-private project encompassing 7,000 villas. Gulf Business. 29-6-16
  • Saudi Arabia has been recognized for improved real estate transparency following stronger investor and corporate real estate activity. Saudi-US Trade Group. 30-6-16
  • South Korean construction firm Posco E&C is in talks with the Saudi government for development of $2.92 bn worth of infrastructure projects in KSA. Trade Arabia. 3-7-16

   TRANSPORTATION

  • The Saudi Ministry of Labor and Social Development is planning to “Saudize” car sales and rental offices in the first half of 2017, with an emphasis on mega agencies. Arab News. 7-7-16

   CONSUMER

  • As Saudi Arabia looks to fully nationalize its telecoms sector later in 2016, a group of Saudi investors is planning to set up the country’s first female-only telecoms complex. Gulf Business. 4-7-16
  • Saudi Arabian residents spend approximately 5 hours per day using social media, claiming it is the most helpful way to find information about brands or products. Arab News. 5-7-16
  • Saudi Arabia is banning CASHU prepaid cards that are intended to make Internet transactions safer for customers. Arabian Business. 11-7-16

TRADE & FOREIGN DIRECT INVESTMENT

  • Foreign firms intending to invest in wholesale and retail enterprises in Saudi Arabia will have to recruit Saudis for leadership positions as a precondition for receiving licenses. Arab News. 3-7-16
  • Saudi Vision 2030 offers opportunity for French companies and skills to reach the Saudi market. Arab News. 3-7-16
  • General Electric Ventures and Saudi Aramco Ventures have led an investment of $52m in total funding into a U.S.-based 3D printing device company. Saudi-US Trade Group. 6-7-16

FOREIGN POLICY

  • Saudi Arabia’s King Salman bin Abdulaziz Al Saud vowed that his government will strike extremists “with an iron fist” after a series of three suicide bombings hit the KSA in one day. Al Jazeera. 6-7-16
  • Saudi Foreign Minister Adel Al-Jubeir and U.S. Secretary of State John Kerry met to discuss the latest terrorist attacks in the KSA. Arab News. 7-7-16

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