The revenue that Saudi Arabia generates from oil could be overtaken by tourism one day, according to tourism industry experts and economists.» Read More
Saudi Arabia is expected to enforce a highly-anticipated new mortgage law that could offer valuable opportunities for banks and investors seeking the next growth story in the Kingdom.
Cash-strapped nations are only now starting to loosen the purse strings on defense spending, and many may still be looking for bargains at the Paris Air Show this year..
Saudi women are planning to take to the streets on Friday, not to push for democratic reforms, as has been a common theme in the Arab Spring, but for the right to drive.
A plan that would have tapped into the strategic petroleum reserves was one of many idea President Obama has considered to bring down the price of oil, Energy Secretary Steven Chu told CNBC Wednesday.
As OPEC ministers met in Vienna this week it became clear that the cartel is now divided between those wanting to raise output, like Saudi Arabia, and those wanting to hold it and keep prices high.
Diamonds are, apparently, forever, and they are fetching record prices in the rough.
The “old” politics of Opec, which split the cartel and marred its influence in the oil market of the 1990s, have made an unexpected return after a decade-long absence. The FT reports.
Investors may be wary of putting their money in the Middle East and the Arab peninsula given the political turmoil which has shaken the region in recent months, but it offers investment opportunities worth considering, one fund manager told CNBC.
So if OPEC trumpets a 1.5 million barrel rise in daily output, is this just an admission of what’s going on anyway or is this new oil? If it’s the latter, then that is meaningful. If it’s the former, don’t get too excited.
CNBC Senior Energy Correspondent Sharon Epperson shared her notes from the NYMEX Tuesday on an interesting divergence between Brent crude and WTI, ahead of OPEC's Wednesday meeting.
Saudi Arabia has been quietly increasing its crude oil production ahead of Wednesday’s meeting of the Opec oil cartel, in a sign that Riyadh is trying to bring oil prices down to more comfortable levels for consumers in the US, Europe and China. The FT reports.
With oil-producing countries in turmoil and crude gushing to triple digits, OPEC finds itself after 50 years at a critical crossroads. The group produces 40% of the world’s oil, but unrest and revolution in member countries has compromised output.
Saudi Arabia needs an oil price that allows it to meet its long-term fiscal targets while not incentivizing investment in new sources of energy, according to HSBC researchers.
Saudi Arabia's labor market is in sharp focus today following a report of a new policy that could serve as an expat time-bar in the kingdom.
Many analysts in the region are bullish on Saudi Arabia, compared to other markets in the Middle East, and recent data support that view.
The lack of world peace affects the economy by trapping productivity and removing vital resources, according to an international research institute which also put the cost of global violence at $8.1 trillion last year.
It has almost been two years since US President Barack Obama took the stage at Cairo University, reaching out to a mesmerized audience and seeking "a new beginning between the United States and Muslims around the world".
Saudi Prince Alwaleed bin Talal said Citigroup is "definitely on the right track" and praised Chief Executive Vikram Pandit for "rehabilitating that bank and having it go back to where it should have been a long time ago."
Saudi Prince Alwaleed Bin Talal al Saud and CNBC's Maria Bartiromo in a wide-ranging interview that includes Pandit's paycheck at Citibank, changes in the Middle East, and the world economy.
It’s going to be a sizzling summer for the Middle East. You stand a lot to gain, or say a lot less to lose, if you’ve done the prep work.