Category Archives: Saudi Arabia

Accenture Acquires Major Saudi IT Firm

Two major Middle East players have joined forces with the aim to strengthen their IT effectiveness in the fast-growing region in which they inhabit. Accenture, which specializes in management consulting, technology and outsourcing, acquired a majority of one of Saudi Arabia’s leading information technology companies, Al Faisaliah Business & Technology Company (FBTC.) FBTC is a… Continue Reading

Egypt to Borrow $4 Billion from Saudi Arabia

Tantawi Announces Loan from Saudi Allies Field Marshal Mohamed Hussein Tantawi of Egypt told the official Egyptian press agency, MENA on Saturday that Saudi Arabia will lend Egypt emergency monies in the amount of $4 billion. Tantawi, who is the head of Egypt’s ruling military council said, “The $4bn will be distributed in the form… Continue Reading

Gulf State Markets Continue to Rise

Regardless of the news or violence and tension coming out of the greater Middle East region, trading on the Gulf State Arab markets seem to be doing just fine, if the new highs reached last week can be any indication. Saudi Arabia companies posted positive first quarter earnings pushing the markets up, while the petrochemical… Continue Reading

News from Libya, Egypt and Saudi Arabia

Libyan Rebels Retake Brega With air support from the United States and its allies Libyan rebels have made major progress across Libya—taking the centrally located city of Ajdabiya, recapturing the eastern city of Brega and making steady advances towards the important oil depot of Ras Lanuf. Warplanes from the west have been bombarding the strongholds… Continue Reading

Saudi Arabia Set to Explode

All eyes are turning to Saudi Arabia as its “Day of Rage” is set to begin tomorrow.  This of course is what Mideast commentators refer to as the big one.  Saudi Arabia supplies the world with 40% of its oil and so if its ground begins to rumble with similar protests as we’ve seen sweeping… Continue Reading

Saudis Moving in Tanks to Protect Bahrain Government

The elephant of Saudi Arabia appears to have taken action to swat the fly on its back- Bahrain- by sending in an armada of 30 tanks to help strengthen the beleaguered Bahrain government. The Bahrain government has been subjected to two weeks of protests from demonstrators, with no end in sight, demanding the resignation of… Continue Reading

Al Jazeera Seen as a Force for Freedom in the Middle East

Mustafa Souag, the head of the news department at the Arabic language station of Al Jazeera said this past Monday, “We knew something was coming. Our main objective was to provide the most accurate and comprehensive coverage that we could by sending cameras and reporters to any place there is an event. And if you… Continue Reading

Fitch Expects Gulf Country Banks To Lose Less in 2011

Since the international credit crisis is winding down, Arab Banks located in the Persian Gulf area will probably lose less money in loans and investments. “Lower impairment charges and cost control should lead to a gradual improvement in profitability, but revenue growth will be more difficult to achieve,” Fitch ratings agency maintained. “Loan growth has… Continue Reading