Abu Dhabi is home to the world’s sixth-largest proven oil reserves and is working to achieve self-sufficiency in natural gas. It has been successfully pursuing diversification, particularly in terms of manufacturing, banking and ICT. While the global Covid-19 pandemic and decline in international oil prices poses challenges for the emirate, the fundamentals underpinning its economy remain strong.
In 2016 Saudi Arabia launched its ambitious economic transformation plan, Vision 2030. The long-term Vision 2030 involves diversifying the Saudi Arabian economy by steering the country away from its traditional dependence on oil. The ambition and scope of Vision 2030 is unprecedented, and the plan will promote the Kingdom’s regional, cultural and religious significance to...
Saudi Arabia’s Capital Market Authority (CMA) approved updated corporate governance regulations (CGRs) for joint-stock companies listed on the Saudi Stock Exchange (Tadawul) in February 2017, and amended them in May 2019. The new CGRs reflect efforts to enhance the competitiveness of the Saudi exchange to investors. The regulations set...
Saudi Arabia’s Capital Market Authority approved updated corporate governance regulations for joint-stock companies listed on the Saudi Stock Exchange (Tadawul) in February 2017, and amended them in May 2019. The regulations set standards for best corporate practices by promoting accountability, clarity and transparency for management, board members, shareholders and stakeholders. This...
Saudi Arabia’s decision to weaken the link between hydrocarbons and economic growth, and pursue a policy of diversification has seen a wide range of projects come to fruition in the last several years. While at present the Covid-19 pandemic and the unprecedented plunge in oil prices are causing significant short-term uncertainty, the reforms that have been put in place in recent years should stand the Kingdom in good stead over the longer term.
The year 2020 marks the 50th anniversary of the establishment of the Sultanate of Oman, making it the longest continually independent Arab country in modern history. The year also marks the passing of Sultan Qaboos bin Said Al Said, who died on 10 January. He is succeeded by his cousin and the former minister of culture, Sultan Haitham bin Tariq Al Said.
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