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Leading coverage of Saudi in the foreign press this morning is the latest net foreign direct investment figures, which Bloomberg says places the Kingdom off track for this year’s USD 29 bn FDI target. Obstacles such as high entry barriers and lingering reputation risks are key hurdles curtailing FDI inflows into Saudi, Bloomberg said citing a research report by Capital Economics. Despite the new investment law being a possible “game changer,” insufficient inflows remain problematic, the London-based research unit said.
^^ We have the full story in this morning’s news well, above.
Meanwhile, Saudi oil policy is keeping a wider economic fallout at bay as tensions grow in the region, Reuters writes. Despite fears of further escalation following Hezbollah leader Nasrallah’s killing, the Kingdom’s sway on OPEC+ as well as recent reports indicating a potential direction away from an unofficial USD 100 per barrel target and reboot production are keeping “a lid on oil prices” and limiting shocks, the newswire said.
Borne out by the numbers: Oil prices have remained steady in the USD 70-80 per barrel range, as Riyadh’s continues to pump below its 12 mn bpd capacity while non-OPEC output rises and China sees waning demand.
