New York listing for Saudi Aramco will set seal on ‘new dawn’ in Saudi-US ties — exec

Edward Burton
Updated 14 August 2017
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New York listing for Saudi Aramco will set seal on ‘new dawn’ in Saudi-US ties — exec

DUBAI: It is an exciting but unpredictable time for US-Saudi Arabia relations, and Edward Burton is at the heart of it. “I think one can say the reset button has been officially and earnestly pushed by both sides,” he said.
Burton, a political scientist and lawyer by training and a one-time diplomat as commercial attache in the US Embassy in Riyadh, is now president and chief executive of the US-Saudi Arabian Business Council (USSABC), based in Washington and which also has offices in Riyadh.
The council’s aim is to maintain and promote economic and commercial ties between the two countries, and to encourage reciprocal bilateral investment. It was set up in 1993, and Burton took over in 2006.
“Over the years, our council has evolved from being primarily a public-information provider and business-event organizer, to a full-service corporate-membership-driven consultancy,” he said. It counts 400 of the biggest names in business in the US and the Kingdom on its membership roll.
“It’s also important to understand that we are a bilateral council, which means we not only assist American companies in entering the Saudi market, but we also assist Saudi companies to do business in the US,” he added.
At the moment, business is buzzing. The visit of US President Donald Trump to Riyadh in May and the billions of dollars of deals signed then were seen as heralding a new age in the relationship between the two countries, which was sometimes strained under previous US administrations.
“It is somewhat difficult to understate the level of enthusiasm held generally by Saudis for what is being viewed as a new beginning for relations with the US, owing not only to President Trump’s visit to the Kingdom, but a much broader and more meaningful engagement with Saudi Arabia by the new administration,” Burton said.
“There is a renewed sense of optimism and real intent to extend the already formidable and deep economic and commercial ties companies and public-sector entities share between the two countries. American companies that have been doing business in Saudi Arabia for decades are putting their investment capital into the Kingdom’s economic roadmap that will take it to a new Saudi Arabia under Vision 2030. Today, the two nations enjoy a special partnership centered upon the pillars of security, energy cooperation, and mutually beneficial business ties,” he added.
But there is a cloud on the horizon of this generally benign outlook: The diplomatic and commercial standoff between the Anti-Terror Quartet — Saudi Arabia, the UAE, Bahrain and Egypt — and Qatar over Doha’s alleged funding of global terrorism.
Burton points out that the USSABC does not usually involve itself in political issues, unless they directly impact business relationships, but he does offer a personal perspective as a former top-level diplomat in the region.
“I held ‘top secret’ security clearance during my time (in the diplomatic) post and was entrusted with various levels of classified information on a variety of subject matters, but then and now, no security clearance is required to understand that Iran has posed a real threat to peace and security for a number of nations in the region, including Saudi Arabia. I witnessed first-hand and close-up the horrible impact terrorism has wrought within Saudi borders,” he said.
While Burton does not rule out an escalation in the confrontation — “every nation has the sovereign right to guard its borders and protect itself from harmful influences and threats from any neighbor,” he said — he does not think it will affect crucial trading relationships in the region. “I foresee no negative impact in terms of business relations,” he emphasized.
The economic transformation underway in the Kingdom has certainly caught the attention of the US business community, but what of ordinary Americans? Are they beginning to see Saudi Arabia in a new light?
“The United States is such a large and diverse country, I know it is somewhat unrealistic to expect most Americans to be aware of the profound economic and societal changes occurring in the Kingdom today,” Burton said. But there has been a trickle-down effect from the increasingly frequent visits to the US by top Saudi policymakers, especially those by Crown Prince Mohammed bin Salman.
“More business and political leaders are cognizant of what’s happening in the Kingdom. But, also, these well-publicized visits by Saudi leaders are widening the attention span of ordinary Americans as to the tremendous changes occurring in Saudi Arabia today,” he said.
The Riyadh meetings in May — held during Trump’s visit to the Kingdom — were deemed a great success by all sides, but some industry skeptics cast doubt on the ultimate practicality of the huge deals announced at the time, questioning whether there was a real determination to see them through to fruition.
Burton does not see it like that, instead believing that there is a new determination to implement these and other transactions. “My optimism is based upon the Saudi realization of how important follow-up is to having future successes materialize … the Saudi CEO Summit featured numerous business deals that had been in the works and in the negotiation phase for some time prior to the actual summit,” he said.
“We are in contact with some of our member companies that signed deals in Riyadh during the May summit. These companies are working to implement the agreements that were inked. These deals have their own timelines, but we are confident that with the proper attention, they will all come to contribute to the economic and employment gains aspired to for such deals in Saudi Arabia.”
Deals in the defense sector dominated the Riyadh announcement, which Burton thought was only to be expected, given the fact that “Saudi Arabia is the United States’ largest foreign military sales customer.”
But future business will not be limited to military hardware, he said. “Given the priorities as outlined in Vision 2030, there are so many other industry sector opportunities for global competitors to take advantage of that it almost defies brevity in description.
“Besides the stalwart mainstays of the Saudi industrial and business base — such as oil and gas, petrochemicals, medical and health care, real estate, consumer goods and foodstuffs — we view broad-based industrial manufacturing and infrastructure development as areas holding particular promise for long-term profit potential for competitive US companies,” Burton said.
He sees opportunities especially in domestic manufacturing, which has grown by 15 percent over the past year, with an emphasis on “localization” — focusing on developing industrial clusters that employ Saudi citizens and which source their suppliers from the local market.
He points to the growing power of cities like Dammam in the Eastern Province as an industrial ecosystem for manufacturing and distribution, and increasing American commercial partnerships.
Big US firms like Dow Chemical and Bechtel are already prominently involved in Saudi industry, and American companies have big shares of the markets for construction and transport projects, second only to Saudi firms themselves.
There is more work to be done by Americans in energy and utilities projects, where US partners lag behind South Korean and some European countries, Burton pointed out.
Talk of the energy sector inevitably turns to the oil industry, and the big question on the minds of many business and financial people in the US and Kingdom is: Where will Saudi Aramco choose to list its shares in the initial public offering (IPO) being planned for next year, in what will be the biggest share flotation in history, with up to $100 billion of equity to be listed on global exchanges as well as on Riyadh’s Tadawul.
The IPO process is getting down to the crucial issue of whether the New York Stock Exchange (NYSE) or London Stock Exchange (LSE) would be the better venue in the West. Recent reports suggest that, while some advisers think London is the better market, with the LSE showing signs of flexibility to accommodate Aramco’s record-breaking share issue, the final decision will be as much a political one as an investment choice. The US-Saudi “reset” would seem to give New York the upper hand in this regard.
Burton is well aware of the importance of the decision. “The IPO is the most anticipated event in global equity markets in recent history. The speculative milieu of this event is fostering its own brand of urban legend within the world’s financial services community,” he said.
He added, “I would not presume to add to the speculation, as only those very high up in Saudi leadership, Saudi Aramco and those financial services firms hired by the Kingdom are truly in the know.” However, he believes there are a couple of safe assumptions on the subject.
“First, NYSE is one of the world’s leading securities markets in the running to offer a piece of Saudi Aramco for the first time to the public. Other exchanges such as the LSE are also in hot pursuit of this historic business. These are two of the most developed and mature global equity markets in the world offering access to a definitive phalanx of capital investing elites,” he said.
“Second, for Saudi Aramco, an international listing of what is expected to be around 5 percent of its assets means the type of investor scrutiny the company is not used to historically. It will need to come out displaying the kind of transparency many Saudi companies are unaccustomed to routinely offering.
“Disclosing essential information such as precise oil reserves and full financial disclosure will be the order of the day for Saudi Aramco if compliance to the rules of exchanges such as the NYSE and the LSE are to be observed.
“For example, a listing on the NYSE would mean Saudi Aramco would have to undergo a complete audit by the US Securities and Exchange Commission. Perhaps a bridge too far for the world’s largest oil company. There is talk of the LSE somewhat relaxing its stringent rules to accommodate the Saudi Aramco listing, however, that remains to be seen,” he added.
But there is no doubt as to what Burton would like to see happen. “I am hoping that the final decision turns on the promise the new dawn of US-Saudi relations holds for two of the world’s top-20 economies. Having Saudi Aramco’s IPO served up on the NYSE would further solidify the decades-old intertwining of these two great countries,” he added.


How Saudi Arabia is using innovation, research, and regulation to turn waste into a circular economy success

Updated 05 July 2025
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How Saudi Arabia is using innovation, research, and regulation to turn waste into a circular economy success

  • Engineering, AI and cross-sector partnerships are driving sustainable solutions to manage 110 million tons of waste annually
  • New laws, financial incentives and rising investor interest are reshaping the Kingdom’s waste management and recycling landscape

RIYADH: As Saudi Arabia accelerates toward a circular economy under Vision 2030, experts say universities, research institutions, and business leaders are playing a crucial role in developing innovative waste management solutions that align with national sustainability goals.

In early 2024, Saudi Arabia’s Ministry of Environment, Water and Agriculture announced a waste management plan aiming to recycle up to 95 percent of waste and add SR120 billion ($31.99 billion) to the Kingdom’s gross domestic product.

Saudi Arabia generates more than 110 million tons of waste each year, much of it originating from cities like Riyadh, Jeddah, and Dammam. Its waste management market is projected to grow from $5.97 billion in 2025 to $8.72 billion by 2030, according to Mordor Intelligence.

To meet this challenge, academic partnerships, regulatory reforms and emerging technologies are coming together to reshape the sector, Sultan Al-Muaythir, chairman of the civil engineering department at Prince Sattam bin Abdulaziz University, told Arab News.

Forming knowledge-sharing agreements with leading countries in waste management, he said, is a strategic step toward building a sustainable, locally adapted system that draws on global best practices and aligns with Saudi Arabia’s circular economy ambitions.

To drive innovation in the sector, Al-Muaythir emphasized the importance of interdisciplinary support. Fields like civil engineering, landfill and waste management, geotechnical engineering, and soil sciences all contribute to the design and development of critical infrastructure.

Sultan Al-Muaythir, chairman of the civil engineering department at Prince Sattam bin Abdulaziz University. (Supplied)

Mechanical engineering plays a key role in advancing collection and treatment equipment, while chemical, agricultural and biotechnology engineering disciplines help analyze waste composition and develop transformation processes.

Electrical engineering, he added, is essential for operating smart systems and managing energy generated through treatment.

Al-Muaythir also pointed to the Kingdom’s updated regulatory landscape, particularly the introduction of the Waste Management Law and its executive regulations, as a strong foundation for encouraging innovation and investment in sustainable practices.

He explained that the next phase calls for faster plan implementation, broader international research collaboration and direct incentives for advanced processing technologies — steps that would speed up the Kingdom’s progress toward its environmental and development goals.

While government action is essential, Al-Muaythir said innovation in waste management is not a luxury, but a necessity for building a clean environment and a functioning circular economy.

He added that individual responsibility plays an equally important role. “Adopting conscious behaviors towards waste and committing to sorting and reuse/recycling constitute the first building blocks in creating a more sustainable future,” he said.

Expanding on this vision, Abdullah Alakel, chairman of the Saudi Scientific Research and Innovation Association, said waste management innovation is a cornerstone of Vision 2030’s broader goal to build a circular and sustainable economy.

Abdullah Alakel, chairman of the Saudi Scientific Research and Innovation Association. (Supplied)

He told Arab News that scientific research is a key driver in tackling environmental challenges — from recycling and waste-to-energy technologies to the use of artificial intelligence to improve sorting and collection processes — ultimately boosting operational efficiency and reducing environmental harm.

To support this ecosystem, the association provides business incubators and innovation accelerators, offering technical and financial assistance. It also facilitates connections between researchers, donors and investors to help turn ideas into market-ready solutions.

Alakel noted that several joint initiatives with academic and industrial partners are already underway, including efforts to convert organic waste into economic products such as fertilizers and biofuels.

DID YOU KNOW?

 

• Saudi Arabia aims to recycle up to 95 percent of its waste by 2040. Waste management sector is projected to contribute $32bn to GDP by 2040.

• Half of the Kingdom’s waste comes from Riyadh (21 percent), Jeddah (14 percent) and Dammam (8 percent).

(Sources: Ministry of Environment, Water and Agriculture and the National Center for Waste Management)

Other projects aim to develop scalable recycling technologies and improve overall waste management efficiency.

Beyond research, the association works to foster a culture of sustainability across society. Alakel said it organizes public awareness campaigns, educational workshops in schools and universities, and national competitions that encourage creative, environmentally responsible solutions.

He added that the association plays a critical role in bridging academia and implementation by hosting scientific conferences, building strategic partnerships and supporting national innovation deployment in alignment with Vision 2030’s environmental goals.

Farah Al-Gharib, CEO of Precision & Choice Environmental Solutions, echoed those views, underscoring the opportunity to enhance coordination between stakeholders as Saudi Arabia moves toward a circular economy.

Farah Al-Gharib, CEO of Precision & Choice Environmental Solutions. (Supplied)

She told Arab News that aligning regulations, expanding infrastructure for sorting and collection, and stimulating private investment remain key challenges. Raising public awareness and promoting innovation are also essential to achieving sector-wide transformation.

To accelerate progress, Al-Gharib called for a more integrated and flexible system that encourages public-private partnerships. Activating source-level sorting and offering financial incentives to investors, she said, would help drive growth in the sector.

Clear metrics, such as waste reduction, cost savings and job creation, should be used to measure success.

KAUST's waste collection fleet is equipped with technology that supports efficient operations, from online vehicle tracking to waste bin management. (Photo courtesy of KAUST)

Looking ahead, she expects more companies to invest in smart technologies and expand their collection and treatment networks. Seamless integration across the entire waste value chain — from source to processing and redistribution — is essential, she said, to avoid bottlenecks and uphold the core principles of the circular economy.

“Based on our experience in the sector, we believe that unifying and updating regulations under a single, clear, and transparent regulatory framework would directly contribute to attracting investors, reducing the complexity of procedures and the classification of recyclable products, thereby accelerating regulatory processes and stimulating production,” said Al-Gharib.

She concluded that clear legislation and coordinated responsibilities across authorities are key to scaling up circular economy initiatives effectively and sustainably.
 

 


Hayy Cinema hosting classic movie program for children in Jeddah

Hayy Cinema, which is an Art Jameel initiative, provides a unique approach to film presentation. (@hayyjameel)
Updated 04 July 2025
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Hayy Cinema hosting classic movie program for children in Jeddah

  • The program includes twice daily screenings of classic Arab cartoons that have left a lasting impression on viewers and a complementary range of artistic activities inspired by the films

JEDDAH: Hayy Cinema in Jeddah is running an entertainment program that provides an interactive experience to evoke childhood memories and strengthen cultural bonds between generations.

The program includes twice daily screenings of classic Arab cartoons that have left a lasting impression on viewers and a complementary range of artistic activities inspired by the films.

Hayy Cinema, which is an Art Jameel initiative, provides a unique approach to film presentation. Its facilities include a 168-seat theater, private screening room, multimedia library and an educational exhibition, all designed with architectural inspiration drawn from the history of Gulf cinema.

The children’s program runs until Sunday.

 


Falcon breeders auction to be launched in August

Updated 04 July 2025
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Falcon breeders auction to be launched in August

  • The season will start with the International Falcon Breeders Auction, running from Aug. 5-25, showcasing top local and international falcon farms

RIYADH: The Saudi Falcons Club has announced its schedule for the current year, featuring six major events spanning a total of 122 days in Malham, north of Riyadh, and other venues across the Kingdom.

The event is designed to engage a broad audience interested in falconry, hunting and related cultural traditions.

The season will start with the International Falcon Breeders Auction, running from Aug. 5-25, showcasing top local and international falcon farms.

The Saudi Falcons Club Auction will run from Oct. 1 to Nov. 30, serving as a key platform for presenting top local falcons and providing a reliable economic avenue for falconers.

The International Saudi Falcons and Hunting Exhibition, the largest of its kind in the region, will take place from Oct. 2-11. It will feature exhibitors from both within and outside the Kingdom, showcasing the latest equipment and supplies for falconry, hunting, travel, weapons and outdoor adventures.

 


Saudi transport officials conduct more than 317,000 inspections in June

Updated 04 July 2025
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Saudi transport officials conduct more than 317,000 inspections in June

  • Makkah region reported the highest number of offenses at 21,000, followed by Riyadh at 13,000, Eastern Region at 4,508, and Madinah at 3,557

RIYADH: The Saudi Transport General Authority carried out more than 317,000 inspections covering land, sea, and rail transport activities across the Kingdom in June, identifying 51,143 offenses.

Of these, 27,756 were detected through field inspections and 23,387 through automated monitoring, while all efforts involved collaboration with relevant authorities, the Saudi Press Agency reported.

Compliance rates were robust, with land transport achieving 94 percent compliance and maritime transport recording an impressive 99 percent. These figures highlight licensees’ strong adherence to the rules and regulations.

Makkah region reported the highest number of offenses at 21,000, followed by Riyadh at 13,000, Eastern Region at 4,508, and Madinah at 3,557. Qassim recorded 1,914 violations, Tabuk 1,316, and Aseer 1,073, while the remaining violations were from other parts of the Kingdom.

 


Japan’s crown prince visits Saudi pavilion at Osaka Expo

Updated 04 July 2025
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Japan’s crown prince visits Saudi pavilion at Osaka Expo

  • Visited in the company of Saudi Ambassador to Japan Ghazi Faisal Binzagr.

TOKYO: Japan’s Crown Prince Fumihito and Crown Princess Akishino visited Saudi Arabia’s pavilion at the Osaka-Kansai Expo on Thursday, in the company of Saudi Ambassador to Japan Ghazi Faisal Binzagr.

“We were deeply honored by the visit of their Imperial Highnesses,” Binzagr told Arab News Japan. “It was a beautiful visit.”

He noted how much the pair had enjoyed the music of the oud, which was being played as the imperial guests entered the courtyard of the pavilion and which echoed throughout the building owing to the design of the walls and corridors to amplify the sound.

“The imperial couple also enjoyed Saudi coffee and (a selection of various) dates,” Binzagr said, adding that the variety and color of Saudi dates is influenced by the minerals in the soil of each region where they are grown in the Kingdom.

Binzagr said they had discussed the similarities in the cultures of Saudi Arabia and Japan, adding that despite appearing different, they shared a deep pride in their heritage and history, and both countries' ability to link the East and West.

He added that Japan is authentic with what it has but is also able to blend it with foriegn best practices with its great openness. Binzagr said that he believes this makes for something very special that Saudi Arabia also shares with Japan.

“We both value our roots and connectivity, and we both seek to celebrate balance in everything we do,” he said.

At the pavilion, the imperial couple viewed the plan for Riyadh Expo 2030 and indicated they were keen to visit at that time or even before, Binzagr said.

“We are keenly looking forward to more visits between members of Japan’s Imperial Family and members of our Royal Family of Saudi Arabia,” Binzagr added.

”Such visits add a special dimension to an already special relationship.”