Saudi Arabia’s ambassador to the U.K. Prince Khalid Bin Bandar has described United States President Donald Trump as a “tweet monster” over his belligerent response to the attacks on Saudi oil facilities at Abqaiq last month.
Geopolitical tensions continue to have an impact on the Saudi economy, with Fitch Ratings downgrading the kingdom on 30 September, dropping its credit rating from A+ to A with a stable outlook. The agency said the decision reflected rising tensions in the region, the vulnerability of Saudi economic infrastructure and a continued deterioration in the country’s fiscal and external balance sheets.
In another age the Abqaiq bombing could have provided a casus belli, but with little obvious sign of involvement from a disengaged Washington the mood music appears to shfted from marshall to mellow, with more moderate rhetoric and a bridge-building exercise being led by Iraq
A charitable foundation linked to Qatar’s ruling family has won the latest stage in a long-running dispute over construction in the capital of a multi-billion-dollar hospital – perhaps most famous for its series of monumental sculptures by artist Damien Hirst.
The final stage of the entry of the Saudi Stock Exchange (Tadawul) to the MSCI Emerging Markets (EM) Index was completed on 29 August, three months after the first phase was implemented. The bourse has a 2.8% weighting in the index, in which 31 Tadawul-listed companies are included.
The Saudi government has undergone another round of institutional tweaking, as Crown Prince Mohammed Bin Salman (MBS) seeks to inject more life into his economic reform programme following lacklustre results and criticism from business leaders.
Baghdad has embarked on a spending spree in an effort to cement the gains from an improving security situation, but regional turmoil continues to make life hard
Profits may be pressured across the aviation industry this year, but some routes are always reliable money spinners that can bring in hundreds of millions of dollars a year in ticket sales and, in one case, more than $1 billion.
The UK’s new Brexit-driven government is weakened by domestic political turmoil and finding it hard to identify a credible response to Iran’s threats to shipping. While a majority of senior ministers in Boris Johnson’s administration lack experience in high office, many of them know the Gulf fairly well. Meanwhile, an under-resourced Royal Navy cannot act alone, posing questions about whose alliance to join
Two members of Kuwait’s royal family, along with a number of other officials, are at risk of being targeted by United States sanctions, in the latest twist in the long-running saga over alleged fraud and embezzlement at Kuwaiti-owned investment vehicle The Port Fund.
The UAE’s plans to develop a new generation of military surveillance capabilities suffered a setback on 11 July, when an Arianespace Vega rocket carrying its French-built Falcon Eye 1 satellite deviated from its course two minutes after launch and was lost.
The stakes are getting ever higher in the protracted dispute over alleged fraud at the investment fund