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.


‘At the Edge’: Art Week Riyadh signals bold new chapter in Saudi cultural renaissance, say organizers

Updated 06 April 2025
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‘At the Edge’: Art Week Riyadh signals bold new chapter in Saudi cultural renaissance, say organizers

  • Event organized by Visual Arts Commission and hosted at JAX District from April 6 to 13

RIYADH: Art Week Riyadh is making waves in the Saudi capital this week, with curators and creatives hailing the event as a pivotal moment in the Kingdom’s fast-evolving cultural landscape, the Saudi Press Agency reported.

Organized by the Visual Arts Commission and hosted at the JAX District from April 6 to 13, the event is bringing together local and international artists, curators, and institutions in a celebration of contemporary creativity and cross-cultural dialogue.

The initiative reflects the growing momentum of Saudi Arabia’s cultural transformation, part of the broader Vision 2030 reform agenda that is reshaping the Kingdom’s social and artistic fabric, according to organizers.

Vittoria Matarrese, Director and Art Curator of Art Week Riyadh, described the event as a significant turning point.

“We chose the title ‘At the Edge’ because it reflects the nature of the phase Riyadh is undergoing,” Matarrese said. “It is a city positioned between the desert and urbanization, between heritage and renewal. This balance is evident in the diversity of participation and the dialogues presented by the exhibition.”

She added that Riyadh is increasingly defining itself as a space where modernity and tradition intersect, enabling a unique creative evolution.

Shumon Basar, curator of the Public Cultural Program at Art Week Riyadh, underscored the importance of the conversations taking place as part of the programme, titled “How to Create an Art World: Lessons in Value.”

He explained: “Our goal is not only to share experiences, but also to raise essential questions about the types of value that art creates in the contemporary world—whether economic, symbolic, or social—and how art can serve as a tool to understand cultural transformations, rather than merely reflect them.”

Art Week Riyadh serves as a key cultural platform that embraces diversity and encourages artistic experimentation, offering a space for critical reflection on the evolving role of art in society, SPA added. 


A look at NEOM’s prehistoric masterpieces etched in stone

Updated 06 April 2025
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A look at NEOM’s prehistoric masterpieces etched in stone

  • Open-air museum of ancient artworks is key to decoding past civilizations
  • Drawings reveal how human beings interacted with now-extinct animals in the area

MAKKAH: In the heart of NEOM’s Hisma Desert, where sandstone mountains and plateaus rise from the arid landscape, is an extraordinary collection of ancient rock art and archaeological inscriptions. These priceless treasures illuminate the cultural and economic vitality of long-lost civilizations.

Once a vital corridor for caravans travelling the ancient trade routes of the Arabian Peninsula, this region preserves an invaluable legacy etched into its geological formations.

The drawings show how people interacted with now-extinct animals in the area, as well as with livestock and camels. (Supplied)

Abdulelah Al-Fares, a photographer and expert in ancient artifacts and a member of the Saudi Heritage Preservation Society, told Arab News that the rock art is in the mountains and plateaus in NEOM, part of a mountain range in the northwestern part of Tabuk.

Hisma Desert is bordered by the Sharah Mountains to the north, by Wadi Araba to the northwest, by the Hijaz Mountains to the west, and by Harrat Al-Raha to the south.

HIGHLIGHTS

• Studying rock art in the region matters deeply because it reveals economic and cultural changes that shaped the northern Arabian Peninsula.

• The drawings show how people interacted with now-extinct animals in the area, as well as with livestock and camels.

• Among the standout examples are life-sized camels crafted with remarkable precision and aesthetic detail.

“The plateaus, part of the Hisma Desert and its geological formations, represent an open-air museum of nature, ancient rock art, and diverse historical inscriptions,” he said.

The artworks illuminate the journey of human civilization, revealing its cultural and social evolution in the region. (Supplied)

The rock drawings feature engravings of human figures, animals and various scattered scenes throughout the site.

The engravings on the plateau’s facades depict scenes of animals, including wild animals such as camels, cattle, ibexes, ostriches and wolves, as well as other predatory animals, and depictions of hunting scenes and human combat.

These drawings are notable for their precision and have remarkably withstood the elements for thousands of years.

Abdulelah Al-Fares, Saudi Heritage Preservation Society member

“These drawings are notable for their precision and have remarkably withstood the elements for thousands of years,” he said. “Most of the themes and scenes in some of the rock drawings in the region are repeated and depict, to some extent, the world of wild animals and the interactions of humans through hunting and warfare.

“The mountains embody a civilizational and cultural legacy through their distinctive rock drawings featuring human and animal forms,” Al-Fares said.

The rock drawings feature engravings of human figures, animals and various scattered scenes throughout the site. (Supplied)

He also highlighted the value of exploring NEOM’s ancient rock art. These carvings — depicting animals, hunting scenes and human figures — are a bridge between our modern lives and the world of humans thousands of years ago. They are a source of cultural and historical knowledge.

The artworks also illuminate the journey of human civilization, revealing its cultural and social evolution in the region.

Scattered throughout the area, a wide array of rock art sites show a vast and dense collection of drawings and archaeological inscriptions from different eras etched on mountain surfaces.

Al-Fares pointed out their diversity, noting the varied artistic styles, forms, and themes that distinguish each piece.

Among the standout examples are life-sized camels crafted with remarkable precision and aesthetic detail. The careful attention to detail is thought to underscore the camel’s role as an essential sources of food and transport in ancient times.

Another façade shows a herd of cows, all facing forward, their large crescent-shaped horns curving at the tips. Encircling this herd, human figures of varying sizes are skilfully carved.

These ancient artworks are pictorial panels of human history, activity, environmental adaptation, and cultural development during ancient times. Their value shines brighter given the scarcity of insights into prehistoric life.

Studying rock art in the region matters deeply because it reveals economic and cultural changes that shaped the northern Arabian Peninsula.

The drawings show how people interacted with now-extinct animals in the area, as well as with livestock and camels.

Many carvings portray human beings astride animals, including a warrior wielding a spear and sword, rendered with finesse and skill.

Scattered throughout the region, some drawings hint at the presence of different ethnic groups that lived in the area. The provide clues to migratiosn and trace the routes of trade caravans that used these locations as settlement points.

 


Riyadh forum to discuss future of project management

The forum’s chairman, Badr Burshaid, speaks during an event in Riyadh. (X @BadrBurshaid)
Updated 06 April 2025
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Riyadh forum to discuss future of project management

  • The event will offer a platform for exchanging strategies to improve project outcomes by enhancing skills, streamlining operations, and using modern technology

RIYADH: Riyadh will host the fourth Global Project Management Forum from May 17 to 19, focusing on advancing project management and promoting innovation and sustainability.

Held under the theme “Next-Gen Project Management: The Power of People, Processes, and Technology,” the forum will bring together professionals from more than 100 countries to explore the future of project management and share new methodologies.

The event will offer a platform for exchanging strategies to improve project outcomes by enhancing skills, streamlining operations, and using modern technology, the Saudi Press Agency reported on Sunday.

The forum’s chairman, Badr Burshaid, said the goal is to provide practical solutions to challenges while encouraging collaboration across people, processes, and technology.

The event will include sessions and workshops on artificial intelligence, digital transformation, sustainability, global value chains, and leadership development, along with an exhibition and book signings.

 


The Saudi volunteer team that carries out emergency rescues in the Northern region

Updated 06 April 2025
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The Saudi volunteer team that carries out emergency rescues in the Northern region

  • Turaif Falcons Search and Rescue Association rescues stranded motorists, finds missing people and assists in medical emergencies
  • Group recently helped evacuate severely overweight man suffering medical emergency in apartment

MAKKAH: A volunteer search and rescue team recently helped to evacuate a severely overweight man suffering a medical emergency in an apartment in Saudi Arabia’s Northern Borders region.

The man, weighing around 200 kilograms, was suffering from shortness of breath and low oxygen levels.

Due to the narrow staircase in the building — around a meter wide — the specialized team had to be brought in to evacuate the patient on a stretcher.

The team worked with the Saudi Red Crescent to safely transport him to a nearby hospital where he was placed on a respirator.

It was one example of a diverse range of rescue missions that the Turaif Falcons Search and Rescue Association regularly carry out.

Their work includes rescuing people from floods, assisting motorists stuck in the sand and locating people who have gone missing in the desert.

Operating under the Ministry of Human Resources and Social Development, they thrive in a spirited volunteer environment, committing their time, skills, and energy to community service while promoting a culture of volunteerism.

In an interview with Arab News, Mohammed Bashit Al-Ruwaili, head of public relations and media, and the official spokesperson for the association, said that the team is made up of over 150 dedicated volunteers, who play essential roles in multiple areas — most notably in supporting official agencies during search and rescue operations and contributing to life-saving efforts.

He emphasized that the team operates within a well-structured institutional framework, working in direct coordination with relevant security authorities to assist in the execution of rescue missions.

Al-Ruwaili noted that the team plays a vital role in raising community awareness through training programs that teach members of the public about wilderness safety.

It also offers support via interactive community service initiatives led by experienced and skilled members.

The team is equipped with a comprehensive system that includes vehicles fitted with communication and alert devices, and personnel trained in first aid and search operations under challenging conditions.

He pointed out that the Falcons face major challenges from harsh weather conditions, including sandstorms and extreme heat, which can hinder rescue efforts, and emphasized the continuous need to strengthen and capabilities by providing volunteers with more advanced equipment.

Al-Ruwaili also underscored the importance of unified efforts between official agencies and volunteer teams to ensure rapid and effective emergency response.

The team is committed, he said, to expanding its efforts by attracting new volunteers and forging strategic partnerships with relevant authorities.

Al-Ruwaili stressed the importance of cooperating with authorities and promptly reporting any emergencies.

He reaffirmed the Turaif Falcons’ commitment to remaining on the front lines, always prepared to respond, save lives, and serve the community.


Saudi ambassador meets Maldivian minister

Updated 06 April 2025
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Saudi ambassador meets Maldivian minister

  • Khaleel conveyed the government’s appreciation to the Saudi ambassador for his contributions to strengthening the brotherly relations between the Maldives and Saudi Arabia

MALE: Saudi Ambassador of Maldives Matrek Al-Dosari met with the Abdulla Khaleel, Maldivian minister of foreign affairs, in Male on Sunday.

During the meeting, Khaleel conveyed the government’s appreciation to the Saudi ambassador for his contributions to strengthening the brotherly relations between the Maldives and the Kingdom, according to an official statement from the Foreign Ministry.

Al-Dosari expressed his gratitude to the government and people of the Maldives for the warm hospitality and friendship extended to him during his tenure.

He reaffirmed the Kingdom’s commitment to further strengthening the close and brotherly ties between the two countries.