Saudi Arabia: Assessing the impact of the Khashoggi affair

Date: Oct 2018

New Country Views

"Saudi Arabia: Assessing the impact of the Khashoggi affair"

Saudi Arabia’s yet-to-be-clarified role in the death of journalist Jamal Khashoggi at its consulate in Istanbul has upset Western allies, rattled the Saudi stock and FX markets and undermined the “Davos in the Desert” Future Investment Initiative. There has been a short-term impact, but we believe the longer-term effect on the economy, foreign direct investment and the kingdom’s Vision 2030 programme -- will be minimal.

How long and how deep will the impact of the Khashoggi crisis be? We think Saudi Arabia will take a short-term confidence hit but weather the storm over time.

Saudi Arabia’s economic diversification efforts are unlikely to be derailed, partly because they have been under way for decades, and are now being massively accelerated. This, in itself, will bring back foreign investors who could take a pause on the back of recent headline risk.

Though wary of each other, Saudi Arabia and Turkey have traditionally tried to avoid public spats. The countries have significant trade and investment ties and vie for influence across the region.

Once the mid-terms elections are behind him, and particularly if they go in his favour, President Trump could well choose to reduce the frequency of his public statements on the Khashoggi matter. Managing Congress will challenge Saudi savvy to rise to new levels.

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Saudi Special Conference Call

Exclusive insights from Dr. Florence Eid-Oakden from FII 2018

“Reflections from FII”: Saudi Special Conference Call - Monday 29 October at 1300 GMT via Webex – Access at a cost of USD 95.00

Arabia Monitor is delighted to present this exclusive conference call on Saudi Arabia. Having attended the Future Investment Initiative in Riyadh, our CEO & Chief Economist, Dr. Florence Eid-Oakden will share her exclusive insights on the impact of the Khashoggi affair on the Saudi economy.

Dr. Eid-Oakden will focus on the short-term storm and the longer-term impact on the overall investment landscape, diversification efforts, the capital markets and inclusion into MSCI & FTSE Russell EM status, trade, oil exports, and relations with Turkey & the United States.

Message from Dr. Eid-Oakden: “Saudi Arabia’s yet-to-be-clarified role in the death of journalist Jamal Khashoggi at its consulate in Istanbul has upset Western allies, rattled the Saudi stock and FX markets and undermined the Davos in the Desert. There has been a short-term impact, but we believe the longer-term effect on the economy, foreign direct investment and the kingdom’s Vision 2030 programme -- will be minimal. Join me on Monday to hear my views and observations based on decades of living in and covering the kingdom”.

Held usually on the first Wednesday of every month and exclusive to subscribers only, our conference calls are designed to help clients make informed decisions on how best to hedge risks and leverage opportunities in the MENA region.

The call will be held on Monday 29th October at 1300 GMT and will last for approximately 1 hour including Q&A.

For more information, contact Mingqiao Zhao & Charlene Rahall.

To sign up, please click here and pay. Upon successful payment, you will receive dial-in details.

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