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Prince Alwaleed Bin Talal’s investment vehicle Kingdom Holding (KH) has suffered a dramatic fall in its fortunes, with a 90% year-on-year drop in revenue in Q3 2019, to SR47.6m, and a 65% fall in profits, to SR86.8m. The figures, announced on 10 November, also showed revenues fell by 21% yr-on-yr in January-September 2019, to SR1.4bn. when profits dropped by 37%, to SR401.8m.

Saudi Arabia
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In Kuwait’s stuttering projects market, for every step forward, there seem always to be two steps back. Reports in mid-June that the country’s major new airport project was being put on hold after companies bidding for the construction contracts pulled out was not, therefore, a particular surprise. Kuwaiti newspapers reported that the Ministry of Public Works has put the KD1bn ($3.6bn) second airport terminal project on ice after most of those bidding withdrew, apparently in protest at the onerous conditions.

Kuwait
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Qatari officials made a rare visit to Saudi Arabia in mid-September to take part in the Organisation of Islamic Cooperation (OIC) extraordinary meeting, called by Riyadh to discuss comments by Israeli Prime Minister Benjamin Netanyahu that he planned to annex large parts of the occupied West Bank if he won re-election on 17 September poll. The Qatari delegation was led by minister of state for foreign affairs Sultan Bin Saad Al-Muraikhi.

Saudi Arabia
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Foreign affairs and international co-operation minister Sheikh Abdullah Bin Zayed Al-Nahyan (ABZ) held talks with his British counterpart Jeremy Hunt and minister of state for the Middle East Alistair Burt in separate meetings on 6 September. Among the topics up for discussion was the Yemen war – the UK government continues to offer fulsome support to the Saudi Arabia-led coalition, not least through the supply of weapons to Saudi and UAE forces. The discussions also touched on the current situation in Syria and Libya.

United Arab Emirates (UAE)
Issue 1108 - 30 July 2020

UAE: GlobalEye agreement

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The UAE has signed a support agreement with Swedish defence firm Saab to cover support and maintenance for its airborne surveillance system GlobalEye. The $145m deal runs until 2022, with the work to be carried out in the UAE.

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Spanish shipbuilder Navantia has launched the first of five corvettes it is building for the Royal Saudi Naval Forces (RSNF) in what is known as the Al-Sarawat project. A ceremony was held in San Fernando shipyard on 22 July, attended by RSNF commander Vice Admiral Fahad Bin Abdullah Al-Ghofaily. 

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Sharjah Ruler Sheikh Sultan Bin Mohammed Al-Qasimi has made a series of changes to personnel and institutions. On 19 July, he promoted Asma Rashed Sultan Bin Tulaiah to secretary-general of the Sharjah Executive Council (SEC).

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National security adviser and keen athlete Sheikh Nasser Bin Hamad Al-Khalifa has reportedly guaranteed to fund the Bahrain-McLaren professional cycling team next season, in the event backing is withdrawn by its chief sponsor, troubled sportscar manufacturer and F1 team operator McLaren.

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There is confusion over a series of reported pardons by Sultan Haitham Bin Tariq Al-Said of Omani critics who have been living in self-imposed exile.

Issue 927 - 06 July 2012

Hacking group targets censors

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Censors in the UAE have become the latest target for international hacking group Anonymous, which has leaked a list of websites and keywords blocked by the government.

United Arab Emirates (UAE)
Issue 1010 - 18 February 2016

Risk Management Report - UAE - Emirates

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At the top of each emirate are the rulers’ courts and their crown princes. In practice, only the rulers of Abu Dhabi and Dubai make unilateral decisions and issue emiri decrees; most of the smaller emirates use legislation crafted at federal level. Abu Dhabi, Dubai and Sharjah all have executive councils (Dubai’s is relatively informal). Abu Dhabi and Sharjah have national consultative councils, whose usefulness (like the Federal National Council) has been questioned. For family trees of all seven families, see GSN 1,000.

United Arab Emirates (UAE)
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Kuwaiti attorney general Dherar Ali Al-Asousi has written to his counterpart in Dubai, Essam Issa Al-Humaidan, requesting his assistance is releasing $496m that has been frozen in a branch of Noor Bank since November 2017. The money belongs to Kuwaiti investment firm The Port Fund LP, whose executives have been accused in Kuwait of embezzlement.

Kuwait | United Arab Emirates (UAE)
Free

Deputy prime minister Sheikh Mansour Bin Zayed Al-Nahyan remains on the ascendancy. Also minister of presidential affairs, he is close to half-brother UAE President Sheikh Khalifa Bin Zayed Al-Nahyan, and is married to Sheikha Manal Bint Mohammed Bin Rashid Al-Maktoum, the eldest child of UAE vice president, prime minister and ruler of Dubai Sheikh Mohammed Bin Rashid Al-Maktoum.

United Arab Emirates (UAE)
Issue 1092 - 18 November 2019

UAE: More Chinooks on order

Free

The UAE Air Force and Defence Command has requested a further ten Chinook CH-47F cargo helicopters to add to its fleet, at a cost of around $830m. The order was approved by the US State Department on 7 November. The helicopters will be built by Boeing Helicopters Aircraft Company, with engines made by Honeywell Engine Company. The deal includes ten US contractors travelling to the UAE for five years of delivery, training and support. The UAE Air Force already has 20 Chinooks in place.

United Arab Emirates (UAE)
Free

The new parliament’s pro-government character appears to be translating into greater levels of achievement. The assembly has already pushed through a number of bills and motions, including approving the much delayed draft law to privatise Kuwait Airways Corporation.

Kuwait