Gulf trade news and analysis from Washington, D.C.
Former Mossad Chief Meir Dagan says he is opposed to a pre-emptive strike by Israel on Iran, agreeing with President Obama’s position on the issue. “An attack on Iran before you explore all other approches, is not the right way how to do it,” Meir Dagan said on the popular 60 Minutes program in the […]
Continue ReadingSaudi Prince Alwaleed Again Tops Arabian Business Richest Arabs List Saudis again dominated the Arabian Business Richest Arabs list with seven spots on the top 10, including positions 1-5. Surprising no one, Saudi Prince Alwaleed bin Talal placed first on the list again with net holdings over $21 billion. His fortune increased almost a billion dollars this year, […]
Continue ReadingAL-JUBAIL, Saudi Arabia – Chevron Phillips Chemical Company LLC (Chevron Phillips Chemical) congratulates Saudi Polymers Company (SPCo) and its joint venture partner, National Petrochemical Company, on completion of construction of the SPCo joint venture’s manufacturing facility located in Al-Jubail, Saudi Arabia. Final commissioning and testing activities continue with a priority on ensuring safe and reliable […]
Continue ReadingUS President Barack Obama has lauded the appointment of Saudi Prince Nayef to the position of Crown Prince. Specifically praising Nayef’s commitment to counter-terrorism measures, Obama said: “I congratulate King Abdullah and the Saudi people on the selection of Prince Nayif bin Abd al-Aziz Al Saud as Crown Prince and Deputy Prime Minister of the […]
Continue ReadingConstruction has reportedly begun at a $10.8 billion aluminum rolling mill in Ras Al Khair, Saudi Arabia. The joint venture between Saudi Arabia’s Ma’aden and Alcoa is for an integrated aluminum plant with an initial capacity of 380,000 tons per year, and will be the region’s only aluminum operation with a captive supply of alumina, […]
Continue ReadingFluor Corporation announced today that the company has been awarded an engineering, procurement and construction (EPC) contract by SAPCo, a joint venture company being formulated between Saudi Acrylic Acid Company and Evonik Industries, for its Super Absorbent Polymer Project (SAP) in Jubail, Saudi Arabia. Fluor booked the undisclosed contract value in the second quarter of 2011. […]
Continue ReadingThe growing health consciousness among Saudi residents coupled with rising income levels that allow for flexibility in food choices has transformed the Kingdom into the GCC’s top organic foods market. The KSA’s domestic organic and natural foods sector is currently valued at around SAR 1 billion, accounting for 90 per cent of the regional market. […]
Continue ReadingCriticism of the U.S. economy often focuses on America’s inability to be export-led as consumerism still reigns supreme for the nation still strained by economic woes. However, a recent report of a large Saudi Arabian wheat purchase indicates that the U.S. still has a lot to offer as an agricultural producer, especially to nations that […]
Continue Reading[Press Release] – General Dynamics Land Systems, a business unit of General Dynamics (NYSE: GD), has been awarded two contracts with a combined value of $42.4 million for the Kingdom of Saudi Arabia’s tank program. The contracts were awarded by the U.S. Army TACOM Lifecycle Management Command on behalf of the Royal Saudi Land Forces. This […]
Continue ReadingSaudi banks netted SR15.72 billion ($4.19 billion) in the first half of 2011, reports Emirates 24/7. The “annual profits are expected to be higher than in 2010 because of credit recovery and lower provisions,” the report notes, citing official data.
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