While Western banks saw their valuations drop substantially during the first 18 months of the COVID pandemic — and have yet to recover — the declines among Saudi banks have been smaller and their valuations are now closer to, if not above, their pre-pandemic levels. Identifying the drivers of this seemingly contradictory trend helps us better understand the shifts within the Saudi banking sector and the growing impacts of policies related to Vision 2030, the country’s long-term economic development and diversification program.
Exploring the rising workforce participation among Saudi women
In the past few months, several articles have been written on the significant rise in the Saudi female labor force participation rate (LFPR) from 17.7% in Q2, 2016 to 33.2% in Q4, 2020. Interestingly, this increase in female LFPR was not coupled with a rise in unemployment, which often occurs when workforce participation rises for a particular group. In fact, the unemployment rate among female nationals declined to its lowest level in four years, at 24.4% in Q4, 2020. However, it still remains over twice as high as that for male nationals. Another positive labor market indicator, albeit one receiving little attention from analysts, is the significant change in the employment rate among Saudi women. In other words, Saudi women not only increased their share in the workforce, but were also able to gain jobs once they entered the labor force.
Singapore and the Gulf: Economic engagement beyond hydrocarbons
Oil and gas have long dominated trade and investment flows between Singapore and the Gulf. In the wake of two new projects — one in Singapore and the other in the United Arab Emirates — unveiled last month, this article considers whether Singapore and the Gulf are on the cusp of a new level and type of economic relations.
Russian-Iranian relations under Raisi and possible post-Khamenei scenarios
On June 18, Ebrahim Raisi won a landslide victory in Iran’s presidential elections. After Raisi’s triumph, Maxim Suslov, the press attaché of the Russian Embassy in Tehran, transmitted a message from President Vladimir Putin congratulating Raisi on his win and pledging to strengthen Russia-Iran bilateral relations. Iranian Ambassador to Russia Kazem Jalali echoed Putin’s comments about Russia-Iran relations and noted that he was the first world leader to congratulate Raisi on his election as Iran’s next president.
Russia’s careful calculus in supplying Iran with a high-tech satellite
According to reporting from The Washington Post, Russia is set to provide Iran with a high-tech satellite called Kanopus-V. Russia will launch the satellite from its territory and then hand over control to an Iranian crew that received essential training in Russia. Iran will control the satellite from a newly built facility in Alborz Province, near Tehran.
Israel's counter-Iran strategy: Significant accomplishments, but a negative trend
One of the first foreign policy decisions facing Israel’s new government will be if it wants to maintain or modify the policy spearheaded by Netanyahu to counter the United States’ determined effort to return to the 2015 nuclear deal with Tehran. Moreover, the new government needs to assess how successful the maximalist approach Israel has embraced since the negotiations between Iran and the great powers began about two decades ago has been, and to what extent it has pushed the international community to refrain from making concessions and compromises vis à vis Iran.
Elections in Iran: Khamenei silences potential opposition ahead of upcoming ballot
In the run up to Iran’s presidential election, Supreme Leader Ayatollah Ali Khamenei has sought to entrench his power. Will a sharp slump in voter turnout reveal the extent of popular discontent?
Low election turnout points to larger changes in Iranian politics
Iran’s presidential election on June 18 is expected to have the lowest turnout of any election to date and the implications are likely to extend far beyond the ballot box.
Alex Vatanka joins host Alistair Taylor to discuss Iran’s upcoming presidential election on June 18. The election comes at a pivotal time for the country, as it faces a serious economic crisis and growing popular dissatisfaction at home, as well as a changing regional environment and ongoing talks over the revival of the 2015 nuclear deal.
After eight years as Iran’s president, what is Rouhani’s record on women’s rights?
Today, as we approach the end of Rouhani’s government, how should historians and scholars evaluate the economic, political, and social situation over the last eight years? The issues of women’s political participation and social freedom, which were promised by Rouhani, especially during his first campaign, are of particular importance in this regard.
