Company Insights Jadwa Investment Banking & Finance Jadwa Investment News Energy Saudi oil cut extended as it posts budget deficit Saudi Arabia will extend a one million barrel per day voluntary crude oil output cut into September, as fears of a global economic slowdown continue to weigh on demand. The decision was made as the kingdom announced a budget deficit for the second quarter of the year. Negative GDP growth led to analysts declaring that […] August 4, 2023 Economy Saudi 2023 growth forecast cut to 1.9% by IMF The International Monetary Fund (IMF) has cut Saudi’s 2023 GDP forecast to 1.9 percent, as the kingdom’s oil production cuts weigh on its economic performance. Industry experts do not see this impacting the kingdom’s investment drive and the development of its massive slate of giga-projects. It may lead to further debt issuance to finance any […] July 26, 2023 Energy Oil cuts take $11bn bite out of Saudi exports Saudi Arabia’s decision to scale back oil production cut the kingdom’s total exports in the last year by $11 billion, according to data published on Tuesday by the General Authority for Statistics. Overall merchandise exports from Saudi Arabia amounted to SAR 97.1 billion ($25.89 billion) in May 2023, down 32.1 percent year on year. The […] July 26, 2023 Analysis Oil & Gas Saudi GDP growth slows as oil activity to ‘go into reverse’ Slowing oil activity is hampering real GDP growth for Saudi Arabia, the world’s largest exporter of crude, official figures show. Real GDP grew by 3.8 percent year on year in the first quarter of 2023, according to Riyadh’s General Authority for Statistics. This is down from 5.5 percent in the previous quarter and 10 percent […] July 4, 2023 Banking & Finance UAE bank customers shift cash to chase higher interest Savers in the UAE are moving more of their money into income-generating deposit accounts to capitalise on rising interest rates, according to data from the country’s top 10 banks. The US Federal Reserve has increased interest rates by 75 basis points this year in a bid to curb rising inflation. The UAE Central Bank has […] May 30, 2023 Analysis Economy New wave of Saudi spending is no cause for concern A spike in spending during the first quarter of 2023 is likely to lead to a “modest” full-year fiscal deficit for the Saudi government but room remains to make further outlays, experts say. The government recorded a deficit of nearly SAR3 billion ($800 million) in the period, driven by a 29 percent surge in spending, […] May 25, 2023 Employment ‘Saudisation’ creates 500,000 jobs for home nationals Saudi Arabia has created half a million new jobs in the last four years as part of its “Saudisation” policy of requiring companies to hire Saudi nationals, helping the kingdom’s unemployment rate fall to its lowest for six years. Ahmad Al-Rajhi, the minister of human resources and social development, speaking this week at an event […] May 19, 2023 Retail Saudi firms in talks to create retail powerhouse Talks are under way for a potential merger between Saudi Arabia’s largest franchise retailer and shopping mall developer and operator. Cenomi Retail, formerly known as Fawaz Abdulaziz Alhokair Company, said in a filing to the Saudi Stock Exchange that it is in discussions with Cenomi Centers, also known as Arabian Centres Company, to create a […] May 8, 2023 Economy Fed may pause rate hikes after latest increase The US Federal Reserve has hinted that it may be time to pause interest rate hikes after announcing its tenth consecutive increase since March 2022. As widely expected the Fed has raised its target interest rate by 25 basis points (bps), with the majority of Gulf central banks, whose currencies are pegged to the US […] May 4, 2023 Analysis Employment Saudi unemployment tumbles as more women join workforce Unemployment in Saudi Arabia has fallen to 8 percent, its lowest level for six years, as the kingdom’s non-oil economy recorded strong growth in 2022. The rate dropped by 3 percentage points in 2022, according to the General Authority for Statistics and analysts expect it to fall further this year. “As we expect higher growth […] April 20, 2023 Posts navigation Previous 1 … 3 4 5 Next
Energy Saudi oil cut extended as it posts budget deficit Saudi Arabia will extend a one million barrel per day voluntary crude oil output cut into September, as fears of a global economic slowdown continue to weigh on demand. The decision was made as the kingdom announced a budget deficit for the second quarter of the year. Negative GDP growth led to analysts declaring that […] August 4, 2023
Economy Saudi 2023 growth forecast cut to 1.9% by IMF The International Monetary Fund (IMF) has cut Saudi’s 2023 GDP forecast to 1.9 percent, as the kingdom’s oil production cuts weigh on its economic performance. Industry experts do not see this impacting the kingdom’s investment drive and the development of its massive slate of giga-projects. It may lead to further debt issuance to finance any […] July 26, 2023
Energy Oil cuts take $11bn bite out of Saudi exports Saudi Arabia’s decision to scale back oil production cut the kingdom’s total exports in the last year by $11 billion, according to data published on Tuesday by the General Authority for Statistics. Overall merchandise exports from Saudi Arabia amounted to SAR 97.1 billion ($25.89 billion) in May 2023, down 32.1 percent year on year. The […] July 26, 2023
Analysis Oil & Gas Saudi GDP growth slows as oil activity to ‘go into reverse’ Slowing oil activity is hampering real GDP growth for Saudi Arabia, the world’s largest exporter of crude, official figures show. Real GDP grew by 3.8 percent year on year in the first quarter of 2023, according to Riyadh’s General Authority for Statistics. This is down from 5.5 percent in the previous quarter and 10 percent […] July 4, 2023
Banking & Finance UAE bank customers shift cash to chase higher interest Savers in the UAE are moving more of their money into income-generating deposit accounts to capitalise on rising interest rates, according to data from the country’s top 10 banks. The US Federal Reserve has increased interest rates by 75 basis points this year in a bid to curb rising inflation. The UAE Central Bank has […] May 30, 2023
Analysis Economy New wave of Saudi spending is no cause for concern A spike in spending during the first quarter of 2023 is likely to lead to a “modest” full-year fiscal deficit for the Saudi government but room remains to make further outlays, experts say. The government recorded a deficit of nearly SAR3 billion ($800 million) in the period, driven by a 29 percent surge in spending, […] May 25, 2023
Employment ‘Saudisation’ creates 500,000 jobs for home nationals Saudi Arabia has created half a million new jobs in the last four years as part of its “Saudisation” policy of requiring companies to hire Saudi nationals, helping the kingdom’s unemployment rate fall to its lowest for six years. Ahmad Al-Rajhi, the minister of human resources and social development, speaking this week at an event […] May 19, 2023
Retail Saudi firms in talks to create retail powerhouse Talks are under way for a potential merger between Saudi Arabia’s largest franchise retailer and shopping mall developer and operator. Cenomi Retail, formerly known as Fawaz Abdulaziz Alhokair Company, said in a filing to the Saudi Stock Exchange that it is in discussions with Cenomi Centers, also known as Arabian Centres Company, to create a […] May 8, 2023
Economy Fed may pause rate hikes after latest increase The US Federal Reserve has hinted that it may be time to pause interest rate hikes after announcing its tenth consecutive increase since March 2022. As widely expected the Fed has raised its target interest rate by 25 basis points (bps), with the majority of Gulf central banks, whose currencies are pegged to the US […] May 4, 2023
Analysis Employment Saudi unemployment tumbles as more women join workforce Unemployment in Saudi Arabia has fallen to 8 percent, its lowest level for six years, as the kingdom’s non-oil economy recorded strong growth in 2022. The rate dropped by 3 percentage points in 2022, according to the General Authority for Statistics and analysts expect it to fall further this year. “As we expect higher growth […] April 20, 2023
