Non-institutional foreign ownership ex-Aramco surpasses 10% for first time
Non-institutional foreign investors increased their ownership in Tadawul-listed equities, excluding Saudi Aramco, from 9.98% to 10.02% (SAR 310.9 billion) in the week ended June 12و compared to the previous week, market data showed.
The ownership of non-institutional foreign investors is represented by swap holders, qualified foreign investors (QFIs), and residents, excluding the strategic stakes held by the founders.
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Netanyahu's delusional pursuit of a ‘new Middle East'
Israeli Prime Minister Benjamin Netanyahu persistently declares his ambition to 'change the face of the Middle East.' Yet his repeated assertions seem to clash with the unfolding reality on the ground. Netanyahu's opportunistic relationship with language is now proving detrimental to his country. The Israeli leader undoubtedly grasps fundamental marketing principles, particularly the power of strong branding and consistent messaging. However, for any product to succeed over time, clever branding alone is insufficient; the product itself must live up to at least a minimum degree of expectation. Netanyahu's 'product,' however, has proven utterly defective. Yet the 75-year-old Israeli prime minister stubbornly refuses to abandon his outdated marketing techniques. But what, exactly, is Netanyahu selling? Long before assuming Israel's leadership, Netanyahu mastered the art of repetition — a technique often employed by politicians to inundate public discourse with specific slogans. 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As soon as Obama left office, Netanyahu reverted to his old marketing strategy. It was during Trump's first term that Netanyahu brought all his marketing techniques to the fore. He utilized what is known as comparative advertising, where his enemies' 'product' is denigrated with basic terms such as 'barbarism,' 'dark age,' and so forth, while his own is promoted as representing 'civilization,' 'enlightenment,' and 'progress.' He also invested heavily in the FUD (fear, uncertainty, doubt) marketing technique. This entailed spreading negative or misleading information about others, while promoting his own as a far superior alternative. This brings us to 'solution framing.' For instance, the so-called 'existential threats' faced by Israel can supposedly be resolved through the establishment of a 'new Middle East.' For this new reality to materialize, the US, he argues, would have to take action to save not only Israel but also the 'civilized world.' It must be noted that Netanyahu's 'new Middle East' is not his original framing. This notion can be traced to a paper published by the Carnegie Endowment for International Peace in March 2004. It followed the US war and invasion of Iraq, and was part of the intellectual euphoria among US and other Western intellectuals seeking to reshape the region in a way that suited US geopolitical needs. The Carnegie article sought to expand the definition of the Middle East beyond the traditional Middle East and North Africa, reaching as far as the Caucasus and Central Asia. American politicians adopted this new concept, tailoring it to suit US interests at the time. It was US Secretary of State Condoleezza Rice who largely rebranded 'greater' to 'new,' thus coining the 'new Middle East,' which she announced in June 2006. Clever branding alone is insufficient Dr. Ramzy Baroud Though Netanyahu embraced the term, he improvised it in recent years. Instead of speaking of it as a distant objective, the Israeli leader declared that he was actively in the process of making it a reality. 'We are changing the face of the Middle East. We are changing the face of the world,' he triumphantly declared in June 2021. Even following the events of Oct. 7, 2023, and the Israeli war and assault on Gaza that ensued, Netanyahu never ceased using the term. This time, however, his emphasis on 'change' rotated between a future possibility and an active reality. 'I ask that you stand steadfast because we are going to change the Middle East,' he said on Oct. 9 of that same year. And again, in September 2024, he proclaimed that Israel was 'pursuing' a plan to 'assassinate Hezbollah leaders' with the aim of 'changing the strategic reality of the Middle East.' And again, in October, December, and January of this year. In every instance, he contextualized the 'change of the Middle East' with bombs and rockets, and nothing else. In May, coinciding with a major Israeli bombing of Yemen, he declared that Israel's 'mission' exceeds that of 'defeating Hamas,' extending to 'changing the face of the Middle East.' And, finally, on June 16, he assigned the same language to the war with Iran, this time remaining committed to the new tweak of adding the word 'face' to his new, envisaged Middle East. Of course, old branding tactics aside, Netanyahu's Middle East, much like the old US 'greater Middle East,' remains a pipe dream aimed at dominating the resource-rich region, with Israel serving the role of regional hegemon. That said, the events of the past two years have demonstrated that, although the Middle East is indeed changing, this transformation is not happening because of Israel. Consequently, the outcome will most likely not be to its liking. Therefore, Netanyahu may continue repeating, like a broken record, old colonial slogans, but genuine change will only happen because of the peoples of the region and their many capable political players.
