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Time (September 13)

2018/ 09/ 15 by jd in Global News

“The United States may have reclaimed the title of the world’s biggest oil producer sooner than expected.” Based on preliminary estimates from the Energy Information Administration, the U.S. probably surpassed Russia this summer “after jumping over Saudi Arabia earlier this year. If those estimates are right, it would mark the first time since 1973 that the U.S. has led the world in output.”

 

Washington Post (August 21)

2018/ 08/ 23 by jd in Global News

“For foreign countries that have made big bets on Donald Trump’s presidency — such as Russia, China, North Korea and Saudi Arabia — the U.S. midterm elections pose a significant problem: Trump’s maneuvering room may be sharply limited if Democrats win control of the House.” The Republicans hold on power looks “so precarious, that foreign commentators are debating what GOP losses in November could mean.”

 

Time (June 28)

2018/ 06/ 30 by jd in Global News

Women currently “account for 22% of the Saudi workforce, according to government statistics. Bin Salman’s goal is to get that figure up to 30% by 2030. Not only will having women behind the wheel improve participation in the workforce, it will help the economy. According to Bloomberg, the lifting of the ban could add as much as $90 billion to economic output by 2030.”

 

New York Times (May 25)

2018/ 05/ 26 by jd in Global News

Crown prince Mohammed bin Salman brought new hope that he would drag “his hidebound country into the modern age with a new vision.” Reform, however, is now “in reverse in Saudi Arabia” as the young prince cracks down on those who advocated for women’s right to drive. “It will be impossible for Prince Mohammed to legitimately claim the reformist mantle and achieve his economic goals as long as women are prevented from taking their full and rightful place in Saudi Arabia’s future.

 

Washington Post (November 5)

2017/ 11/ 06 by jd in Global News

“While accompanied by the rhetoric of reform,” the purge in Saudi Arabia “resembles the approach of authoritarian regimes such as China. President Xi Jinping has used a similar anti-corruption theme to replace a generation of party and military leaders and to alter the collective leadership style adopted by recent Chinese rulers.” It remains to be seen whether the Crown Prince who’s pulling the strings, Mohammed bin Salman (MBS), has bitten off too much or if he will succeed with this “very risky power play.”

 

Wall Street Journal (June 23)

2017/ 06/ 25 by jd in Global News

“Saudi Arabia has resisted modernity since its founding in 1932. But the political sands are shifting, and the change will accelerate with Wednesday’s appointment of Mohammed bin Salman as Crown Prince.” Remarkably, he is a reformist and less than half the age of the typical heir. This is “squarely in the U.S. national interest. Washington should support and encourage the young prince as he pursues change.”

 

CNN (June 21)

2017/ 06/ 23 by jd in Global News

“If ever there were a country in need of modernization, Saudi Arabia is it.” The newly named Crown Prince “is deeply committed to carrying major reforms to fruition. He embodies dynamism, youthful boldness and a vision of possibility. But the far-ranging changes he is bringing to the conservative kingdom and to the region carry risk and no guarantee of success. In a region roiled with instability, they add another element of uncertainty.”

 

Institutional Investor (April 26)

2017/ 04/ 27 by jd in Global News

The Saudi Stock Exchange, known as the Tadawul, has “sped up its transaction cycle and introduced new trade options in a bid at international capital.” It has adopted the T+2 settlements now common in Europe. (The U.S. still takes three days to settle transactions, but is scheduled to adopt T+2 this September). Tadawul also “introduced securities borrowing and lending as well as covered short selling.” Currently ranked #23, the Tadawul hopes moves like these and the launch of a REIT market will help it attract more investment.

 

Washington Post (June 29)

2016/ 06/ 30 by jd in Global News

Saudi deputy crown prince Mohammed bin Salman (MBS) “has the potential to rebuild Saudi Arabia into a more dynamic country that’s much more able to protect its security and that of its neighbors.” Unfortunately, he is “also capable of driving his country off a cliff with his headstrong, sometimes reckless behavior. The stakes for the United States are enormous.”

 

Financial Times (February 18)

2016/ 02/ 20 by jd in Global News

The conditional deal between Saudi Arabia and Russia delivered “maximum rhetorical impact for the minimum genuine commitment.” Ultimately, it “will not take a single barrel of oil off the market to ease the glut that has driven crude prices down about 70 per cent since the summer of 2014.” The deal reveals “nervousness among the world’s two largest oil producers. But the fact that Saudi Arabia is not already cutting its output, in spite of mounting signs of financial strain, shows that while its strategy might be painful, it is still rational.”

 

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