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#Saudi Stock Euphoria Is Unwinding as the End of Catalyst Nears - Bloomberg

Saudi Stock Euphoria Is Unwinding as the End of Catalyst Nears - Bloomberg:This week could mark the beginning of the end for the biggest equities play in Middle Eastern markets: the upgrade of Saudi Arabia to emerging-markets gauges.As index compiler MSCI Inc. starts adding Saudi stocks to its EM benchmark as of the close of May 28, passive flows are expected to flock to Riyadh. But many active traders are already focusing on expensive valuations, falling earnings estimates and geopolitics.The m...


Mideast Stocks - #Saudi index falls on profit taking, other markets mixed | ZAWYA MENA Edition

Mideast Stocks - Saudi index falls on profit taking, other markets mixed | ZAWYA MENA Edition:The Saudi market slipped early on Sunday, while other Gulf markets were mixed, as investors monitored geopolitical tensions in the region and some liquidated positions ahead of a long public holiday next week.Saudi Arabia's King Salman will host two emergency summits on May 30 for Gulf and Arab leaders to discuss the implications of attacks against the kingdom and neighbouring United Arab Emirates earli...


In the Mideast, the Enemy of My Enemy Can Still Be My Enemy - Bloomberg

In the Mideast, the Enemy of My Enemy Can Still Be My Enemy - Bloomberg:In April 2008, Iran’s then-Foreign Minister Manouchehr Mottaki flew to Riyadh to meet with Saudi Arabia’s King Abdullah. It did not go well.Mottaki was seeking better relations with his country’s chief regional rival. Instead he got a lecture from the king about Tehran’s interference in Palestinian affairs. But “these are Muslims,” Mottaki responded, according to U.S. diplomatic cables made public by WikiLeaks. “No, Arabs,” ...


#SaudiArabia Seeks Private Money to Transform Red Sea Beaches - Bloomberg

Saudi Arabia Seeks Private Money to Transform Red Sea Beaches - Bloomberg:Saudi Arabia is seeking private sector investment to turn an archipelago, desert and mountains -- an area about the size of Belgium -- on its Red Sea coast into a global tourism destination.The oil-rich kingdom’s sovereign wealth fund has committed financing for the project’s first phase, while the Red Sea Development Co. is in talks with banks to raise debt, according to the head of the firm managing the process. The proj...
Tags: Travel, Saudi Arabia, Belgium, Riyadh, Red Sea, Rupert Neil Bumfrey, John Pagano, Public Investment Fund, Red Sea Development Co, Red Sea Development, Red Sea Beaches Bloomberg


Saudi Arabia and Israel are pushing US to confront Iran. Trump shouldn't take the bait

Aaron David Miller and Richard Sokolsky write that when it comes to Iran, Jerusalem and Riyadh are hardly objective observers, so the US should reject their advice.
Tags: Saudi Arabia, Israel, US, Cnn, Riyadh, Aaron David Miller, Iran Trump, Richard Sokolsky, Iran Jerusalem


Appetite for #SaudiArabia tested by latest jumbo loan - Reuters

Appetite for Saudi Arabia tested by latest jumbo loan - Reuters:Saudi Arabia’s Public Investment Fund (PIF) has attracted only tepid interest in plans for its latest multibillion-dollar debt sale, banking sources say, suggesting the kingdom is losing its appeal for some lenders.International banks have flocked to join the efforts of the the Middle East’s largest economy to reduce its reliance on oil and have continued to seek Saudi business despite Riyadh’s relations with Western allies being te...
Tags: Travel, Saudi Arabia, Middle East, Reuters, Riyadh, Rupert Neil Bumfrey, Public Investment Fund PIF, Jamal Khashoggi


Bomb-carrying drone from Yemen rebels targets Saudi airport

By JON GAMBRELL DUBAI, United Arab Emirates — Yemen’s Iranian-allied Houthi rebels said Tuesday they attacked a Saudi airport and military base with a bomb-laden drone, an assault acknowledged by the kingdom as Mideast tensions remain high between Tehran and the United States. There were no immediate reports of injuries or damage. The attack on the Saudi city of Najran came after Iran announced it has quadrupled its uranium-enrichment production capacity, though still a level far lower than need...
Tags: Europe, News, Washington, Iraq, Defense, Uncategorized, America, Sport, World news, Iran, Syria, Vienna, Soccer, United States, New York Times, Middle East


#SaudiArabia says it seeks to avert war, ball in #Iran's court - Reuters

Saudi Arabia says it seeks to avert war, ball in Iran's court - Reuters:Saudi Arabia said on Sunday that it wants to avert war in the region but stands ready to respond with “all strength” following last week’s attacks on Saudi oil assets, telling Iran that the ball was now in its court.Riyadh has accused Tehran of ordering Tuesday’s drone strikes on two oil pumping stations in the kingdom, claimed by Yemen’s Iran-aligned Houthi group. Two days earlier, four vessels, including two Saudi oil tank...
Tags: Travel, Washington, Saudi Arabia, Iran, Tehran, Yemen, Reuters, Riyadh, Islamic Republic, Rupert Neil Bumfrey, Saudiarabia, United Arab Emirates Iran


Saudi Arabia says it seeks to avert war, ball in Iran's court

Riyadh has accused Tehran of ordering Tuesday's drone strikes on two oil pumping stations in the kingdom, claimed by Yemen's Iran-aligned Houthi group. The attack came two days after four vessels, including two Saudi oil tankers, were sabotaged off the coast of the United Arab Emirates. Iran has denied it was behind the attacks which come as Washington and the Islamic Republic spar over sanctions and the U.S. military presence in the region, raising concerns about a potential U.S.-Iran conflic...
Tags: Science, Washington, Saudi Arabia, Iran, Tehran, Yemen, Riyadh, Islamic Republic, United Arab Emirates Iran


Iran blames ‘unacceptable’ US sanctions for spike in tensions as White House advisors push for forceful response

Iran’s foreign minister has hit out at “unacceptable” sanctions imposed by the US as an international deal to curb Tehran’s nuclear ambitions continues to unravel amid a spike in tensions.Mohammad Zarif defended Iran’s right to respond to the US pullout from the nuclear deal last year.“We believe that escalation by the United States is unacceptable and uncalled for. We have exercised maximum restraints,” he said during a visit to Tokyo. In other comments carried on the semi-official Mehr news ag...
Tags: Isis, News, Saudi Arabia, White House, Iraq, US, Iran, Syria, United States, New York Times, Middle East, Ayatollah Ali Khamenei, Tokyo, Nancy Pelosi, Bolton, Tehran


Saudi-led warplanes pound Yemen rebels after pipeline attack

Saudi-led coalition warplanes bombed Yemeni rebel targets including in the capital on Thursday following insurgent drone strikes on a key oil pipeline that Riyadh said were ordered by its arch-rival Tehran. The Saudi deputy defence minister warned that Tuesday's attack by Yemeni rebels on a major pipeline in the kingdom was "tightening the noose" around peace efforts. The Saudi-led coalition, which has been battling the Huthi rebels since March 2015, confirmed that its warplanes were carrying ...
Tags: News, Tehran, Yemen, Riyadh


Citigroup to Expand #Saudi Arabian Teams on MSCI Trading Bet - Bloomberg

Citigroup to Expand Saudi Arabian Teams on MSCI Trading Bet - Bloomberg:Citigroup Inc. plans to hire about five more bankers in Saudi Arabia as it prepares for an expected increase in foreign investment in the kingdom’s stock exchange. The lender is expanding its team in Riyadh after getting regulatory approval last month to start cash-equities trading and custody services, Chief Country Officer Carmen Haddad said in an interview. MSCI Inc.’s move to include Saudi stocks in emerging-market index...
Tags: Travel, Saudi Arabia, Citigroup, Riyadh, Citigroup Inc, Haddad, Rupert Neil Bumfrey, MSCI Inc, Carmen Haddad, MSCI Trading Bet Bloomberg


MIDEAST STOCKS- #Saudi market edges higher in choppy trade after drone attacks - Reuters

MIDEAST STOCKS-Saudi market edges higher in choppy trade after drone attacks - Reuters:Saudi Arabia's stock market was choppy on Tuesday afteran announcement by the government on armed drones attacking oil pumping stationsin Riyadh wiped out early gains.Saudi stocks nudged higher, then went into reverse and closed upjust 0.1 percent. The index fell as much as 2.1% after Saudi Arabia said droneshad struck oil pumping stations two days after Saudi oil tankers were sabotagedoff the coast of the Uni...
Tags: Travel, Saudi Arabia, Reuters, Riyadh, Rupert Neil Bumfrey, United Arab Emirates Shares


Middle East Oil War Cometh: Pipelines and Tankers Under Attack (Is Iran To Blame?)

The Kingdom of Saudi Arabia claims that drones attacked an oil pipeline on Tuesday, causing a severe fire that disrupted oil operations.The attack is just one of many recent assaults on oil industry in the region, coming not long after four oil tankers were sabotaged while anchored in the Mideast.Yemeni rebels are claiming responsibility for a drone attack, and Saudi officials report that two oil infrastructure sites near the capital of Riyadh were targeted at the time of the pipeline attack.In ...
Tags: New York Post, News, US, Iran, US Navy, Riyadh, Mideast, Kingdom of Saudi Arabia, Emirati, 5th Fleet, WarIsBoring


Saudi Arabia Says Its Oil Pipelines Are Under Attack From Drones

REUTERS/Sergio MoraesTwo days after it claimed two of its oil tankers were seriously damaged in sabotage attacks, Saudi Arabia now says its oil pipelines are being systematically attacked by drones.Its the latest in a string of incidents that are seriously endangering stability in the Middle East. Aside from the alleged ship sabotage and drone attacks, Iran announced last week that it would be quitting parts of the 2015 nuclear deal, and the White House has been mulling plans to send 120,000 tro...
Tags: News, Saudi Arabia, White House, Iran, Ap, New York Times, Middle East, United Nations, United Arab Emirates, Associated Press, Tehran, Yemen, Donald Trump, Riyadh, Farhan Haq, Khalid al Falih


All countries must stop sabre-rattling in the Gulf | Financial Times

All countries must stop sabre-rattling in the Gulf | Financial Times:An attack on Saudi oil tankers in the Gulf would be a matter of serious concern at any time. But coming just at the moment when the Trump administration and Iran have been ramping up their rhetoric against each other, Riyadh’s claim that two of its vessels were targeted by “sabotage” that caused “significant damage” underlines the risk of a dangerous escalation in the region.Saudi Arabia said the tankers were attacked on Sunday...
Tags: Travel, Saudi Arabia, Iran, United Arab Emirates, Tehran, Donald Trump, Uae, Gulf, Trump, Riyadh, Rupert Neil Bumfrey


Saudi Arabia says oil facilities near Riyadh attacked

The energy minister of the world's largest oil exporter said the attack on two oil pumping stations had not disrupted oil production or exports of crude and petroleum products. Energy Minister Khalid al-Falih, in comments run by state media, said the two recent attacks threatened global oil supplies and proved the need to counter "terrorist groups behind such destructive acts" including the Iranian-backed Houthi militias in Yemen. Houthi-run Masirah TV earlier on Tuesday cited a military offic...
Tags: Science, Saudi Arabia, Yemen, Riyadh, Khalid al Falih, Houthis, Masirah TV


Saudi Arabia says oil facilities outside Riyadh attacked

The energy minister of the world's largest oil exporter said the attack caused a fire, now contained, and minor damage at one pump station, but did not disrupt oil production or exports of crude and petroleum products. Energy Minister Khalid al-Falih, in comments run by state media, said the drone attack and Sunday's sabotage of four vessels, including two Saudi tankers, off Fujairah emirate, a major bunkering hub, threatened global oil supplies. "These attacks prove again that it is important...
Tags: Science, Saudi Arabia, Yemen, Riyadh, Khalid al Falih, Iran Falih


MIDEAST STOCKS- #SaudiArabia rebounds following deep sell-off, FAB weighs on #AbuDhabi - Reuters

MIDEAST STOCKS-Saudi Arabia rebounds following deep sell-off, FAB weighs on Abu Dhabi - Reuters:Saudi Arabia’s stock index rose on Tuesday, rebounding after a sell-off triggered by news of oil tankers being attacked off the coast of the United Arab Emirates, while Abu Dhabi dropped to its worst day in more than three years, pressured by First Abu Dhabi Bank.Saudi Arabia’s stock market edged 1.5% higher a day after its shares fell nearly 3.6% after Riyadh said two of its oil tankers were among th...
Tags: Travel, Saudi Arabia, United Arab Emirates, Abu Dhabi, Riyadh, MSCI, ABU DHABI Reuters, Rupert Neil Bumfrey, First Abu Dhabi Bank Saudi Arabia, AbuDhabi Reuters


U.S. envoy urges response 'short of war' to Gulf tankers attack

Iran was a prime suspect in the sabotage on Sunday although Washington had no conclusive proof, a U.S. official familiar with American intelligence said on Monday. Iran has denied involvement. "We need to do a thorough investigation to understand what happened, why it happened, and then come up with reasonable responses short of war," Ambassador John Abizaid told reporters in the Saudi capital Riyadh in remarks published on Tuesday.
Tags: Science, Washington, Iran, Gulf, Riyadh, John Abizaid


MIDEAST STOCKS-Trade tensions, tanker attacks darken mood in Gulf markets - Reuters

MIDEAST STOCKS-Trade tensions, tanker attacks darken mood in Gulf markets - Reuters:Dubai and Abu Dhabi stock markets suffered their biggestsingle-day decline in years on Monday after several commercial ships wereattacked off the coast of the United Arab Emirates.Saudi shares had their worst day since mid-October after Riyadh said two ofits oil tankers were among the vessels hit in the attacks.Saudi Arabia's index declined 3.6%, with Al Rajhi Bankdropping 4.6% and petrochemical group Saudi Basic...
Tags: Travel, Saudi Arabia, Dubai, Abu Dhabi, Gulf, Reuters, Riyadh, Rupert Neil Bumfrey, Saudi Basic Industries, United Arab Emirates Saudi, Al Rajhi Bankdropping


Iran-US tensions are reaching new heights – and neither is likely to blink

Long-term standoff threatens to turn into crisis after alleged sabotage of two Saudi tankers A festering four-year war, crippling sanctions, threats to maritime oil trade and a US naval battlegroup steaming for the Persian Gulf. Such developments were troubling enough, before two Saudi tankers were reportedly sabotaged off the UAE coast on Sunday – a development set to ratchet tensions between Tehran and Washington to new and combustible highs.With Riyadh claiming significant hull damage to its ...
Tags: Washington, US, World news, US news, Iran, Middle East and North Africa, US politics, Tehran, Uae, Riyadh, Iran US, Trump Administration, UAE coast


Saudi oil tankers show 'significant damage' after attack, says Riyadh

Attack on vessels, one bound for US, comes after warnings Iran or its proxies could target shippingSaudi Arabia has said two of its oil tankers have been damaged in mysterious “sabotage attacks” in the Gulf, as the US secretary of state, Mike Pompeo, held emergency talks with his European counterparts about mounting tensions in the region.The United Arab Emirates said on Sunday that four commercial vessels had been sabotaged near Fujairah emirate, outside the Strait of Hormuz. The UAE did not gi...
Tags: Saudi Arabia, US, World news, Iran, Middle East and North Africa, United Arab Emirates, Gulf, Riyadh, Arabia, Mike Pompeo, Fujairah, Strait of Hormuz The UAE


Saudi oil tankers show 'significant damage' after sabotage attack, says Riyadh

One vessel was bound for the US and comes after warnings that Iran or its proxies could target shipping in regionTwo Saudi oil tankers have suffered “significant damage” in an apparent sabotage attack off the coast of Fujairah, part of the United Arab Emirates, the Saudi energy minister has said.The reported incident – which could threaten the security of global oil supplies – comes after the US warned ships that “Iran or its proxies” could be targeting maritime traffic in the region, prompting ...
Tags: US, World news, Iran, Middle East and North Africa, United Arab Emirates, Riyadh


Feel-good factor suggests #Saudi economy has turned corner | Arab News

Feel-good factor suggests Saudi economy has turned corner | Arab News:Just how real is Saudi Arabia’s economic recovery? At the Financial Sector Conference in Riyadh a few weeks back, there was lots of optimism in the air, some positive news on the government budget, and some anecdotal evidence that a corner has been turned.The budget surplus in the first quarter this year was the first since 2014, and though it turned out that factored in a big dividend payment from Saudi Aramco, there was stil...
Tags: Travel, Saudi Arabia, Kingdom, Riyadh, Aramco, Saudi Aramco, Rupert Neil Bumfrey


Most Mideast Stocks Fall With Trade Tension Spreading: Inside EM - Bloomberg

Most Mideast Stocks Fall With Trade Tension Spreading: Inside EM - Bloomberg:Most stock markets in the Middle East retreated on Sunday as investors see more volatility spilling over from trade talks between the U.S. and China.President Donald Trump said in a tweet on Sunday it would be wise for China to “act now” to finish a trade deal with the U.S., warning that “far worse” terms would be on offer for them after what he predicted would be his certain re-election in 2020.The main equity indexes ...
Tags: Travel, Saudi Arabia, China, Bloomberg, Middle East, Donald Trump, Kuwait, Riyadh, Rupert Neil Bumfrey


USC’s Middle East Media Program Sparks Inclusive Change in TV Industry

Riyadh-born Hisham Fageeh was working as a standup comedian, with shows in the U.S. and the U.K., when he decided to venture into filmmaking. “We have to wear so many hats,” says Fageeh of the showbiz climate in his Saudi Arabia. “I started as a standup comedian and then I needed more gigs, so I […]
Tags: Saudi Arabia, Spotlight, Usc, University Of Southern California, Riyadh, Hisham Fageeh, Fageeh


Saudi sovereign fund invests indirectly in Arabian Centers IPO, say sources: Reuters

Saudi Arabia’s Public Investment Fund (PIF), the kingdom’s sovereign wealth fund, has indirectly invested in the $747 million initial public offering of mall operator Arabian Centers, sources familiar with the matter said. PIF has made the investment through institutional funds and will not have a direct stake in Arabian Centers, one of the sources said, although the investment represents strong government support for the IPO, a second source told Reuters. The IPO of Arabian Centers, majority-ow...
Tags: Saudi Arabia, Ipo, Trends, IPOs, Middle East, Istanbul, Pif, Reuters, Riyadh, United States Saudi Arabia, Fawaz Alhokair Group, Jamal Khashoggi, Arabian Centers IPO, Arabian Centers, IPO of Arabian Centers


Heatmap Shows #Saudi Economy Humming at Pre-Purge Clip: Graphic - Bloomberg

Heatmap Shows Saudi Economy Humming at Pre-Purge Clip: Graphic - Bloomberg:Saudi Arabia’s economy suffered after the detention of hundreds of royals, billionaires and government officials at the Ritz-Carlton hotel in Riyadh on corruption charges in 2017. But Bloomberg Economics’ heat map of economic activity shows non-oil growth bouncing back to pre-purge levels. BE expects non-oil growth to average 2.6% this year, up from 2.1% in 2018, helped by fiscal stimulus, a lower drag from monetary polic...
Tags: Travel, Saudi Arabia, Riyadh, Ritz Carlton, Rupert Neil Bumfrey, Bloomberg Economics, Graphic Bloomberg


Wall Street may be returning to Saudi Arabia, but it's not back to business as usual

Until Saudi Arabia acquires the kind of deep, long-term partnerships that Vision 2030 needs, which can boost Saudi nationals' employment and benefit Saudi society, it's not yet back to business in Riyadh, writes Varsha Koduvayur, a senior research analyst at the Foundation for Defense of Democracies.
Tags: Saudi Arabia, Cnn, Riyadh, Foundation for Defense, Varsha Koduvayur