Washington Post (November 5)
“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.”
Tags: Anti-corruption, Authoritarian, China, Crown Prince, MBS, Power play, Purge, Reform, Regimes, Rhetoric, Risky, Saudi Arabia, Xi
Wall Street Journal (June 23)
“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.”
Tags: Age, Change, Crown Prince, Modernity, National interest, Reformist, Salman, Saudi Arabia, Support, U.S.
CNN (June 21)
“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.”
Tags: Boldness, Conservative, Crown Prince, Instability, Modernization, Reforms, Risk, Saudi Arabia, Success, Uncertainty, Youthful
Institutional Investor (April 26)
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.
Tags: Europe, Options, REIT, Saudi Arabia, Securities, Settlements, T+2, Tadawul, Transaction cycle, U.S.
Washington Post (June 29)
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.”
Tags: Cliff, Dynamic, Headstrong, MBS, Neighbors, Reckless, Saudi Arabia, Security
Financial Times (February 18)
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.”
Tags: Deal, Financial strain, Glut, Market, Oil, Output, Producers, Rational, Russia, Saudi Arabia, Strategy
Washington Post (January 5)
“Saudi Arabia is a frightened monarchy.” That is both the root of the problem and the key to the solution. “What led Saudi Arabia to take these risky actions, and what U.S. policies might reduce the danger that the Middle East mess will get even worse? You can’t answer these questions without examining the Saudis’ insecurity, which has led them to make bad choices.”
Tags: Danger, Frightened, Insecurity, Middle East, Monarchy, Risky, Saudi Arabia, Solution, U.S.
The Economist (July 4)
“Shale matters. The industry has become huge—listed firms have invested over half a trillion dollars of capital…. Shale firms owe almost as much debt as Greece. After drilling beneath much of Texas and North Dakota, they account for 5% of global oil output. The health of shale firms affects people around the world, from Western drivers and Saudi Arabia’s sheikhs to Asia’s consumers.”
Tags: Asia, Capital, Consumers, Debt, Drilling, Greece, North Dakota, Oil, Output, Saudi Arabia, Shale, Texas
The Economist (May 23)
“Saudi Arabia’s rulers have long wielded their influence discreetly.” No more. Amid current Middle East chaos, “the Saudis are acting with uncharacteristic boldness across the whole range of domestic, foreign and economic policies. Whether by design or default, they stand out as the leading force in the Arab world.”
Tags: Boldness, Chaos, Discreet, Influence, Middle East, Saudi Arabia
The Economist (January 23)
The death of King Abdullah “could hardly have come at a more challenging time for Saudi Arabia.” His successor “King Salman has inherited a realm that is the world’s top oil exporter at a time when prices have plunged; is home to Islam’s holiest sites of Mecca and Medina at a time when jihadist violence is at a peak; and has been dragged into turmoil in the region.”
Tags: Islam, Jihadist, King Abdullah, King Salman, Mecca, Medina, Oil, Prices, Saudi Arabia, Successor, Turmoil, Violence
