"So who’s ‘naive’ about Saudi Arabia, now?"

 Ms. Attiah

This is regarding your article "So who’s ‘naive’ about Saudi Arabia, now?"

https://www.washingtonpost.com/opinions/2022/10/14/biden-saudi-arabia-mbs-gas/

Not only the so-called article is full of lies about Saudi Arabia, but also defies the norms of proper journalism. Instead, you should have written about US crimes around the world.

YOU should have written about the outcome of “The International Tribunal on Human Rights Abuses Against Black, Brown and Indigenous Peoples” held Oct. 23-25 at The Malcolm X and Dr. Betty Shabazz Memorial and Educational Center in Washington Heights, New York City, aka Turtle Island, Lenape land.

YOU should write about the millions of African people murdered, disappeared and nearly exterminated over a period from 1492 through the present.

YOU should have written about testimonies heard regarding an alarming pattern and practice of US police murdering Black, Brown and Indigenous people with impunity. YOU should have written about civilians murdered by the US in cold blood in Iraq, Afghanistan, Vietnam, Japan, The Dominican Republic, Laos, and other parts of the world.

YOU should have written about traditional torture techniques in solitary confinement lasting for decades in the US, which goes so far beyond the U.N.-constituted definitions of torture that they defy any modern standard of humane government. 

YOU should have written about the fact that the U.S. is the only industrialized nation in the world that denies the existence of political prisoners.

A Alami

Saudi writer

The 63 Million Riyal Case

Abdullah Al Alami*

The Public Prosecution's statement is clear; investigations proved that a Saudi female citizen had with her foreign husband, committed money laundering, with financial flows exceeding 63 million Saudi riyals.

The court issued a preliminary ruling against the criminals, and sentenced them to jail for a period of 12 years in accordance with the Anti-Money Laundering Law and the Anti-Concealment Law.

This crime reminds me of the suspicious phone calls and text messages people receive inquiring about their personal bank information to help them conduct “lucrative financial transactions”. We must alert the authorities immediately about these calls, as the Public Prosecution is responsible for protecting national economy from all forms of criminal practices.

Saudi Central Bank has done well by establishing the Joint Operations Center for Saudi Banks, which monitors cases of financial corruption. The Center brought together all Saudi banks under one roof in 162 workstations, to help monitor and trace financial crimes.

Thanks to the Public Prosecution Office for demanding tougher sentences against the perpetrators in the 63 million Riyal case.

 

*Saudi Writer

Why is President Biden visiting Saudi Arabia

Abdullah Alami*

12 July 2022

US President Joe Biden's visit to Saudi Arabia on July 15 is an opportunity for international media to have a closer look at the Kingdom.

The Saudi Public Investment Fund (PIF) is ranked sixth among the world's largest sovereign wealth funds with total assets of $620 billion. Saudi sales rose by 28% for the second consecutive month, and (PIF) assets jumped 163%, or 248 billion dollars, during the first five years of implementing the Kingdom's Vision 2030.

The US National Security Council coordinator, Brett McGurk, is obviously interested in the Saudi economy. We seek - with or without US assistance - strengthening the Kingdom's role in the global markets. Riyadh seized good investment opportunities in US stocks in 2020, and we will do the same when and where available.

Protests against the US administration is increasing due to segregation against African Americans, and recent abortion ruling. These issues will not support Biden in the next elections, and he will need all the help he can get.

Meanwhile, Saudi Arabia is moving steadily towards achieving its economic goals, including localizing technologies, and building strategic partnerships with friendly industrial nations.

 

*Saudi Economist

How to Deal with Inflation

Abdullah Al Alami

The World Bank raised its forecast for the growth of the Saudi economy for 2023 at 3.8%, compared to 3.3% in previous forecasts, and reserve assets abroad rose to 1.7 trillion riyals. The Saudi gross domestic product also recorded a rise in constant prices on an annual basis by 9.9 percent, during the first quarter of this year.

These developments, in addition to Saudi companies raising their capital, are positive indicators. This trend supports the strategies of the concerned companies, especially in the areas of expansion and growth. Also, investors will feel reassured when maximizing the total return on their savings, especially in the case of increasing and diversifying corporate investments and seizing the expected growth opportunities.

Saudi Arabia is currently witnessing an acceleration in the growth of the digital economy, and the financial technology sector is also recording remarkable growth. Government agencies have also achieved positive results in financial sustainability, which, we hope, will be directed to priority expenditures.

However, not everything is positive; global markets suffered at the end of last week from a sharp decline, which was also reflected in the Gulf markets. We are not isolated from the rest of the world, and it is normal for our markets in the Gulf to feel the pressure as well. The Saudi stock market fell 2.2%, the lowest closing in 4 months, down by 2.18%, or 268.9 points, to the level of 12,053 points.

Also, higher oil prices may increase economic pressures and thus raise inflation. This means high prices for food and imported goods, which is what preoccupies the world's economists today.

How did the world deal with high inflation? The US Federal Reserve and the Bank of England may raise their rates, while the Swiss Central Bank and the Bank of Japan may stick to their stimulus policies without any significant change.

*Saudi writer 

@AbdullaAlami1

https://www.instagram.com/abdulla.alami/

Billion Dollars a Day

Abdullah Al Alami*

May 31, 2022

 

The future prospects for Saudi Arabia are positive, and the Kingdom continues to diversify its economy to achieve this goal. 

Let me share with you the official and reliable figures. The value of Saudi oil exports reached $30 billion last March, the highest level in six years, driven by high oil prices and increased production. In other words, the value of crude exports, which now stands at around $1 billion a day, has increased by 123%.

Although Saudi Arabia is dealing positively with the increase in energy demand by raising production capacities, it will also continue to advocate for climate change and environmental safety issues.

The stereotype that Saudi Arabia is only an oil exporter is unrealistic. Saudi achievements in many other areas speak for themselves. For example, Riyadh involvement in the Global Alliance Agreement in health care, contributes to promoting community awareness in this field. We want to benefit from the world’s experiences in formulating a prudent healthcare improvement strategy on a global level.

The Saudi Minister of Investment, Khalid Al-Falih, expected the size of the Saudi economy to grow to between 1.7 and 1.8 trillion dollars by 2030, thus achieving the goal of the Kingdom's vision to be among the 15 largest economies in the world. Foreign direct investment flows to Saudi Arabia have multiplied by about 4 times in recent years. At the same time, the Public Investment Fund is investing billions of dollars in tourism, electric cars, and others, to effectively contribute to the Comprehensive Development Transformation Plan.

Finally. Rising revenues in the kingdom helped generate a budget surplus of 57.5 billion riyals ($15 billion) between January and March 2022. Therefore, Saudi Arabia will become one of the world's largest growing economies this year, according to a report by the International Monetary Fund.

 

*Saudi writer

من سرق أموال المواطن اللبناني؟

عبدالله العلمي

6 مارس 2022

تبرع السعودية بـ 36 مليون دولار للبنان جاء محدد التضاريس وفق الاتفاق السعودي الفرنسي لمساعدة لبنان. هذه الإعانة تساهم بتحقيق عدة أهداف نبيلة، تشمل تقديم مساعدة لمراكز الرعاية الصحية الطارئة للشعب اللبناني في مواجهة كورونا، وتمويل المساعدة الغذائية "في كل أنحاء لبنان".

التبرعات السعودية للبنان مبادرة ممتازة، بشرط أن لا تمر المساعدات عبر حزب الله أو الصهر المدلل؛ نريدها أن تصل مباشرة للشعب اللبناني الشقيق. لا أحد – غير حزب الله وإيران – يتمنى أن يتم "تصريف" الأموال في لبنان في ساحات الصراعات وشراء الصواريخ وتجهيز مؤامرات الحروب والقتال.

مازال العالم ينظر ببعض الشك لكيفية صرف الأموال في لبنان، سواءاً الهبات من الدول الصديقة أو أسلوب التعامل الجاد مع الفاسدين الذين يسرقون لقمة العيش من أفواه الشعب اللبناني. أقصد تحديداً حزب الله اللبناني المسنود عسكرياً وعقائدياً من طهران. لن يقوم لبنان من "جورة" الفساد المالي والتدهور الإقتصادي طالما يسيطر حزب الله على موارد الدولة. للأسف نجح حزب حسن بتحقيق أهدافه؛ مؤسسات معطلة، شباب مهاجر، أموال منهوبة، حسابات بنكية "مُغلَقَة"، ودولة عاجزة. 

نأمل أن نشهد قريباً بداية انحسار التأثير الإيراني على الوضع في لبنان، وخاصة بعد فرض مجلس الأمن الدولي الأسبوع الماضي، حظر السلاح على ميليشيات الحوثي المتحالفة مع إيران. هذه الميليشيا تبنت الهجمات الإرهابية بطائرات مسيرة وصواريخ على الإمارات والسعودية، ولم يكن لها أن تنمو بدون الدعم الذي تتلقاه من حزب الله وإيران.

للأسف حزب الله، مدعوماً بالسلاح الإيراني، يشكل "تسونامي" لقمع الأهداف النبيلة التي يطمح إليها المواطن اللبناني. من مصلحة الحزب أن لا يتم التحقيق أو إعلان الحقيقة في تفجير مرفأ بيروت، بل أن تستمر حالة الإنقسام في لبنان. لهذا، يتردد صندوق النقد الدولي بتقديم أي مساعدة للبنان بدون البدء بعملية الإصلاح الشاملة. إلا أن القادم أسوء، وخاصة مع أزمة ارتفاع أسعار المحروقات والمحاذير من عدم القدرة على استيراد الكميات المحتاجة من القمح الأوكراني وجنون الدولار.

Where is Saudi Economy Heading?

Abdullah Al Alami*

3 January 2022

 

In spite of a big jump in cases of the Omicron coronavirus variant, the Saudi economy began 2022 on a positive note but is expected to remain more cautious over related developments.

As 2021 was a crunch year for the world, the Saudi sovereign wealth body, the Public Investment Fund, announced a five-year strategy to push the Kingdom’s diversification drive.

Non-oil PMI for Saudi Arabia declined in November 2021, with new orders gradually slowing down. Consumer spending was up 5.6 percent, but cash withdrawals were down by 11 percent.

Government tourism megaprojects will probably continue to grow. This includes the Soudah Development Co. in the Asir region, with an investment of SR11 billion, and The Rig — a 150,000 square meter offshore oil-themed tourism destination.

The other major projects include the SR75 billion investment in the Central Jeddah Development, featuring thousands of hotel rooms and residential units, surrounded by tourism projects over 5.7 million square meters.  This project aims to add SR47 billion to the Kingdom’s economy by 2030.

SAMA Foreign Reserve Assets rose by $13.6 billion, mainly from a rise in bank deposits, to stand at $464 billion. Money supply rose by 6.3 percent, and total deposits rose by 7 percent.

Inflation rose by 1.1 percent, with ‘food and beverages’ up by 1.6 percent. The unemployment rate for citizens remained unchanged at 11.3 percent, while there was an increase in female participation in the workforce. Several non-oil sectors were identified as priority sectors, such as housing, healthcare, and financial services.

Saudi Stock Market (TASI) finished the year on a positive note, rising 5 percent in December, with little or no concern over the global spread of Omicron. As such, TASI recorded its best performance in a decade, with an annual rise of 30 percent in full-year 2021.

*Saudi economist