INTERVIEW: Art Jameel curator Murtaza Vali on the first major exhibition from the Gulf region’s new artistic patrons

Murtaza Vali of the Al Jameel Group of Saudi Arabia. (Illustration by Luis Granena)
Updated 04 November 2018
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INTERVIEW: Art Jameel curator Murtaza Vali on the first major exhibition from the Gulf region’s new artistic patrons

DUBAI: From the patronage of the Medici dynasty in Renaissance Italy, through the artistic philanthropy of the great American magnates of the 19th century, the link between art and business has been a permanent thread.
In the modern Middle East, the tradition was for a while maintained by the Abraaj group and its sponsorship of the annual art fair in Dubai, but with that now in doubt given the group’s financial troubles, the baton has been taken up by the Art Jameel Group of Saudi Arabia.
Next week, reinforcing the link between big business and high art, Art Jameel unveils its first big exhibition at its new art center in Dubai, and the theme, appropriately enough, is the oil industry.
Oil has shaped the economies of the region, but has also been a pervasive factor in its artistic and cultural scene.
“Pervasive, but invisible,” in the words of Murtaza Vali, curator of the exhibition entitled “Crude.”
“Though oil drives all human life, we have limited access to it in an everyday context. ‘Crude’ is an attempt to give viewers a chance to get intimate with it, though it does consciously resist the dark and sticky lure of crude oil itself, which appears only once or twice in the show,” he said.
The exhibition brings together 17 artists from across the region and the world “to explore oil as an agent of social, cultural and economic transformation across the region, as well as a driver of geopolitical upheaval,” according to the Art Jameel website.
There were multiple inspirations for “Crude,” Vali explained. One was the work of Lebanese artist Rayyane Tabet, whose work “The Shortest Distance Between Two Points” was a winner of the Abraaj prize in 2013, the year that Vali curated it. It was based on the TransArabian Pipeline, the post-war venture that got Saudi crude to the Mediterranean without having to pass through the Suez Canal.

In the Middle East, and in the Gulf especially, oil still has the capacity to inspire dreams.

Another inspiration for the exhibition is the huge but little- viewed archive of film produced by the oil companies operating in the Gulf in the mid-20th century. As well as being the heyday of oil discovery in the Gulf, this was also the high point of British documentary film making, and “Crude” digs deep into that reserve.
One highlight of the exhibition is a work by the Saudi artist Manal Al-Dowayan, a self-styled “Aramco brat” whose father worked for Saudi Aramco in Dhahran. Through oral histories and photographs, “If I Forget You, Don’t Forget Me” documents the stories of a generation of pioneering Saudi oilmen and women whose lives straddled the country’s shift from poverty to abundance. The photographs are taken in the home offices of many of these figures and feature mementoes and souvenirs of life lived in the oil industry.
“Living and working in the Aramco ‘camp’ in Dhahran was quite a surreal experience for many — it was like a little bit of mid-20th century suburban America plopped into the middle of the Arabian desert,” said Vali.
Montreal-based Hajjra Waheed captures some of this in her work “Aerial Studies 1-8,” which uses an old map to show some significant sites within the Dhahran compound, including the house she grew up in. Aramco was not involved in the exhibition, but roughly one-third of the works are taken from the Jeddah-based Art Jameel collection.
Oil as an environmental agent is vividly portrayed. “Plume 1-24,” another work by Waheed, consists of photographs of thick black clouds often associated with oil fires. They have been cropped so that the source of the smoke is not visible, opening the images up to multiple interpretations, everything from environmental pollution to the artist’s own memories of the Kuwaiti oil fields burning in 1991 after Saddam’s retreating troops set them alight.
That act of destruction also figures in another work at “Crude.” Monira Al-Qadiri’s “Behind the Sun” features vintage footage of the same fields, ablaze, shot by a Kuwaiti journalist from ground level, but overlaid with recitations of Islamic poetry drawn from Kuwaiti television archives. “These events elicited awe and wonder as much as fear and despair. Al-Qadiri’s use of poetry brings some of this wonder back,” Vali said.
The message from the exhibition is as much corporate as artistic. “I think it is informative to know the early history of the oil industry, to learn how quickly and closely corporations and governments came together around the extraction of petroleum. This link helps us better understand how oil so quickly became the dominant source of energy around the world,” he said.
That history throws up some quirky cultural facts, like the link between oil and golf. The American expats who came to Saudi Arabia, for example, were dedicated golfers, and went to great lengths to play their game in demanding circumstances. “Playing golf in the desert, an environment that does not seem ideal for the game, a landscape that is, in some sense, one big sand trap,” said Vali.
Raja’a Khalid’s “Desert Golf” series uncovers archival images of this practice from the late 1940s on, showing “company men” nonchalantly playing golf in the desert, often in close proximity to pipeline and other infrastructural facilities.
“The images reveal an air of corporate elitism still associated with the industry, and remind us how some of the stranger aspects of contemporary life in the Gulf, like lush green world-class golf courses, can be traced back to imperial and colonial pasts,” Vali said.
In literature, a small but significant sub-genre grew out of the meeting between westerners and Arabs in the oil industry, dubbed “petro-fiction.” The Saudi writer Abdul Rahman Munif’s “Cities of Salt” series was controversial at the time — perhaps, Vali said, because of the legacy of colonialism and imperialism inherent in the “oil encounter.”
He takes this as “another sign of how oil is both magical and insidious. It withholds itself from us while making us entirely dependent on it.”
Vali quoted the famous Polish journalist Ryszard Kapuscinski, who said: “Oil creates the illusion of a completely changed life, life without work, life for free … The concept of oil expresses perfectly the eternal human dream of wealth achieved through lucky accident, through the kiss of fortune and not by sweat, anguish, hard work. In this sense oil is a fairy tale, and like every fairy tale, a bit of a lie.”
Vali agrees with that in principle, but is enough of a pragmatist to understand that the oil business underpins a lot of real life as well, including artistic life.
“In the Gulf, there is quite a direct link between oil and culture. When oil fell to below $40 a barrel a couple of years ago, the culture industry noticeably shrank. Oil permeates art and culture in the region, much as it does our everyday lives,” he said.
As befits a scientist turned artist, he is on top of some of the basic economic problems facing the oil industry. One of the exhibits is a work by a Venezuelan artist entitled “The Last Oil Barrel,” which Vali calls “the key to the exhibition.”
“The idea of ‘peak oil’ is intriguing on many levels. Oil’s growing scarcity produces, what one scholar has called, a kind of “resource anxiety” which is increasingly pervasive in the West. But in the Middle East, and in the Gulf especially, oil still has the capacity to inspire dreams,” he said.


UBS gets green light to open Saudi branch for banking operations

Updated 23 April 2024
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UBS gets green light to open Saudi branch for banking operations

RIYADH: In a move aimed at enhancing Saudi Arabia’s financial landscape, the Kingdom has granted permission for a branch of the Swiss bank UBS to operate within the nation. 

According to the Saudi Press Agency, the approval was granted during a session chaired by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al-Saud, held by the Cabinet in Jeddah on April 23.

The session commenced with King Salman briefing the Cabinet on the recent communications and discussions held between the Kingdom and several countries regarding shared relations, regional issues, and global developments, as reported by SPA.

In this context, the Cabinet reaffirmed Saudi Arabia’s steadfast stance toward promoting security and stability in the region and the world. 

The Minister of Media, Salman bin Yousef Al-Dossary, stated in a press release following the session that the Cabinet praised the outcomes of the second ministerial meeting of the dialogue between the Gulf Cooperation Council countries and Central Asian countries. 

He emphasized the Kingdom’s commitment to continue strengthening communication channels with various countries worldwide and supporting areas of joint coordination, including multilateral efforts.

Additionally, the Cabinet expressed its appreciation for the participants of the forthcoming World Economic Forum special meeting, set to take place in Riyadh in the upcoming week, highlighting the Kingdom’s dedication to encouraging global collaboration and tackling shared challenges.

Moreover, the Cabinet announced that the World Bank had selected Saudi Arabia as a center for knowledge dissemination to promote worldwide awareness of economic reforms, underscoring its leadership in achieving significant progress in global competitiveness indicators.

Al-Dossary further highlighted that the Cabinet applauded the achievement of five Saudi cities in obtaining advanced positions in the 2024 Smart Cities Index.

Following today’s session, the Cabinet approved cooperation agreements with Qatar, the Dominican Republic and the UK as well as Turkey, Chad, Portugal, Hong Kong, and Yemen.

Additionally, the body authorized discussions regarding statistical collaboration with Australia and maritime cooperation with Egypt. It also endorsed anti-corruption agreements with South Korea, archival partnerships with Greece, and financial technology collaboration with Singapore.

Authorization was granted for negotiations on science and technology cooperation with the Bahamas. A unified law for international road transport within GCC countries was approved, and additional compensation was granted to Tabah village’s affected families in the Hail region. 

Furthermore, final accounts for various government entities were approved.


UAE and Oman establish $35bn investment partnerships across multiple sectors 

Updated 23 April 2024
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UAE and Oman establish $35bn investment partnerships across multiple sectors 

RIYADH: Trade and economic ties between the UAE and Oman are set to further strengthen thanks to the signing of investment deals worth 129 billion dirhams ($35.12 billion).  

According to a press statement, these agreements cover multiple sectors, including renewable energy, green metals, railway, digital infrastructure, and technology investments. 

Economic ties between the UAE and Oman have remained robust in recent years, with non-oil trade volumes reaching approximately 50 billion dirhams in 2023. 

“The UAE and Oman have strong historical relations that are founded on shared values, goals and principles. The agreements represent a major milestone in our bilateral ties, as they pave the way for us to leverage our collective strength to realize our shared vision of advancement and prosperity,” said Mohamed Hassan Al-Suwaidi, UAE’s minister of investment.  

One of the major agreements signed by both countries was an industrial and energy megaproject valued at 117 billion dirhams. This project encompasses renewable energy initiatives, including solar and wind projects, alongside green metals production facilities. 

The deal’s signatories included Abu Dhabi National Energy Co., Abu Dhabi Future Energy Co., and Emirates Global Aluminium, as well as Emirates Steel Arkan, OQ Alternative Energy, and Oman Electricity Transmission Co. 

Another agreement, valued at 660 million dirhams, was signed between Abu Dhabi Developmental Holding Co. and Oman Investment Authority to establish a technology-focused fund. 

A UAE-Oman rail connectivity project, valued at 11 billion dirhams, was also inked by both countries. 

Additionally, UAE’s Ministry of Investment and the Ministry of Commerce and Trade signed another deal with Oman’s Ministry of Investment Promotion to cooperate in multiple sectors, including digital infrastructure, food security, and energy. 

Etihad Rail, Mubadala, and Omani Asyad Group Co. signed a shareholding partnership valued at 3 billion dirhams. 

Both countries also announced the formation of a UAE-Oman alliance to enhance bilateral economic and trade relations. 

The UAE’s Ministry of Investment, in the press statement, further noted that the signing of these agreements will serve to bolster relations across key sectors and foster socio-economic benefits, contributing toward a stable and prosperous future for both countries. 


Influx of Chinese models to drive Mideast EV sales amid global surge

Updated 23 April 2024
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Influx of Chinese models to drive Mideast EV sales amid global surge

  • The IEA report disclosed that global EV sales grew by approximately 25 percent in Q1 of 2024

RIYADH: The entry of Chinese car models in the Middle East could drive regional electric vehicle sales, as global figures are projected to reach 17 million units by 2024. 

According to the latest International Energy Agency report, this marks a 21.42 percent increase from the previous year, with nearly 60 percent of new electric car registrations in 2023 occurring in China, followed by 10 percent in the US and 25 percent in Europe. 

“The continued momentum behind electric cars is clear in our data, although it is stronger in some markets than others. Rather than tapering off, the global EV revolution appears to be gearing up for a new phase of growth,” said Fatih Birol, executive director of the IEA. 

The Global EV Outlook 2024 stated that the electric car market in Africa, Eurasia, and the Middle East is still in its nascent stage, with such vehicles representing just under 1 percent of total sales in these regions. 

However, the decision of Chinese carmakers to explore these regions, along with producing vehicles domestically, could change this trend, allowing the market to expand in the coming years. 

“In Uzbekistan, BYD (Chinese automaker) set up a joint venture with UzAuto Motors in 2023 to produce 50,000 electric cars annually, and Chery International established a partnership with ADM Jizzakh,” stated the IEA in the report.  

This partnership has already led to a steep increase in electric car sales in Uzbekistan, reaching around 10,000 in 2023. 

It added: “In the Middle East, Jordan boasts the highest electric car sales share, at more than 45 percent, supported by much lower import duties relative to ICE (internal combustion engine) cars, followed by the UAE, with 13 percent.” 

Moreover, in July last year, Saudi Arabia’s Ministry of Investment signed a $5.6 billion deal with Chinese electric car maker Human Horizons to collaborate on the development, manufacture, and sale of vehicles. 

Steady growth  

The IEA report disclosed that global sales of electric cars grew by approximately 25 percent in the first quarter of this year compared to the same quarter in 2023. 

Highlighting the growth of the EV market, the report revealed that the number of electric cars sold globally in the first three months of this year is roughly equivalent to the total units sold in 2020. 

The steady growth in the first quarter of this year was driven by China, with 1.9 million EVs sold, marking a 35 percent rise compared to the same period in 2023. 

In Europe, the first quarter of 2024 witnessed year-on-year growth of over 5 percent, slightly surpassing the growth in overall car sales and thus maintaining the EV sales share at a similar level to that of last year. 

The US also experienced a 15 percent increase in sales in this segment during the first three months of this year, compared to the same period in 2023. 

According to Birol, the rise in investments in the electric battery sector is a strong indication of the rise of the EV appetite globally. 

“The wave of investment in battery manufacturing suggests the EV supply chain is advancing to meet automakers’ ambitious plans for expansion. As a result, the share of EVs on the roads is expected to continue to climb rapidly,” said the executive director of IEA. 

He added: “Based on today’s policy settings alone, almost one in three cars on the roads in China by 2030 is set to be electric, and almost one in five in both the US and the EU. This shift will have major ramifications for both the auto industry and the energy sector.” 

EV prices to fall  

The report highlighted that the pace of the transition to EVs may not be consistent and will hinge on affordability. 

IEA added that manufacturers have taken significant steps to deliver on the strengthening EV ambitions of governments by making significant financial commitments. 

“Thanks to high levels of investment over the past five years, the world’s capacity to produce batteries for EVs is well positioned to keep up with demand, even as it rises sharply over the next decade,” said the report. 

According to the intergovernmental organization, more than 60 percent of electric cars sold in 2023 were already less expensive to buy than their conventional equivalents in China. 

However, the purchase prices for cars with internal combustion engines remained cheaper on average compared to EVs in the US and the EU. 

The report suggested that intensifying market competition and improving battery technologies are expected to reduce the prices of electric cars in the coming years. 

“Even where upfront prices are high, the lower operating costs of EVs mean the initial investment pays back over time,” said IEA. 

Moreover, growing electric car exports from Chinese automakers, which accounted for more than half of all electric car sales in 2023, could add to downward pressure on purchase prices. 

IEA also underscored the vitality of ensuring the availability of public charging slots to maintain the steady growth of the electric car market globally. 

According to the report, the number of public charging points installed globally was up 40 percent in 2023 compared to 2022, and growth for fast chargers outpaced that of slower ones. 

However, IEA added that charging networks globally need to grow sixfold by 2035 to meet the level of electric vehicle deployment in line with the pledges made by governments. 

“At the same time, policy support and careful planning are essential to make sure greater demand for electricity from charging does not overstretch electricity grids,” concluded the report. 


Closing Bell: Tasi slips for the second consecutive day

Updated 23 April 2024
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Closing Bell: Tasi slips for the second consecutive day

RIYADH: Saudi Arabia’s Tadawul All Share Index continued its downward trend for the second consecutive day as it shed 24.52 points to close at 12,484.41. 

The total trading turnover of the benchmark index was SR8.44 billion ($2.25 billion), with 71 of the listed stocks advancing and 157 declining. 

On the other hand, Saudi Arabia’s parallel market Nomu gained 95.74 points on Tuesday to close at 26,691.96. 

However, the MSCI Tadawul Index slipped by 0.24 percent to 1,563.40. 

The best-performing stock of the day was United Cooperative Assurance Co. The firm’s share price rose by 6.67 percent to SR13.44.

Other top performers include Etihad Atheeb Telecommunication Co. and Gulf Union Alahlia Cooperative Insurance Co., whose share prices surged by 4.84 percent and 4.54 percent, respectively. 

The worst performer in the main market was Fitaihi Holding Group, as its share price slipped by 4.77 percent to SR4.19. 

The parallel market’s positive performance was driven by Osool and Bakheet Investment Co., whose share price soared by 7.83 percent to SR36.50. 

On the announcements front, Middle East Paper Co. said it has started its cardboard factory project, which will have a production capacity of 450,000 tonnes. 

In a statement to Tadawul, MEPCO revealed that the feasibility study for the project has been completed with a final budget of SR1.78 billion. 

The company went on to say that the undertaking would be completed in 42 months. 

The initiative will be funded by the MEPCO’s internal resources, by long-term loans from local banks and the use of funds resulting from the issuance of the shares to Saudi Arabia’s Public Investment Fund, the statement added. 

Meanwhile, in another statement, MEPCO revealed that it signed another agreement with J.M. Voith SE & Co. KG, for manufacturing, supplying and supervising the installation of the main machine for the cardboard project.


Egypt increases funding needed in 2024-2025 budget by over $59bn 

Updated 23 April 2024
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Egypt increases funding needed in 2024-2025 budget by over $59bn 

RIYADH: Egypt has increased the amount of funding required in its 2024-2025 budget by over 2.8 trillion pounds ($59 billion) following successive shock waves.

In the financial statement of the new draft budget, Minister of Finance Mohamed Maait highlighted that the changes are reflective of the continuous struggles that the North African country has been facing following the COVID-19 epidemic. 

The added funding aims to alleviate the inflationary effects that have been burdening the Egyptian public, improve the standard of living, and meet the developmental needs of citizens, the report said. 

The allocation of spending in the budget will also seemingly reflect the needs of individuals by increasing spending on health and education and aiming to improve job opportunities. 

Egypt’s economy has witnessed blows over the last half year due to the ongoing crisis in Gaza, which has slowed tourism growth and cut into Suez Canal revenue, two of the country’s biggest sources of foreign currency.

Amid a staggering shortage of foreign currency and rapidly increasing inflation, the challenges prompted the International Monetary Fund to expand its financial support to Egypt to $8 billion in an attempt to shore up the country’s economy.

In a statement in March, the IMF board said its decision would enable Egypt to immediately receive about $820 million.

Similarly, the UAE, represented by a private consortium led by the Abu Dhabi Developmental Holding Co., signed a landmark agreement with Egypt in February to invest $35 billion in Ras El-Hekma, a region on the Mediterranean coast 350 km northwest of Cairo. 

Since securing the deal, which marked the single largest foreign direct investment in the North African country, the nation launched some long-sought reforms with the central bank delivering a 600 basis-point interest rate hike and a pledge to unshackle its currency alongside a devaluation.

This led S&P Global Ratings to note that it has been encouraged by the rush of financial support to Egypt, therefore lifting its economic outlook for the country to positive from stable after the long-awaited currency devaluation, which is poised to ease foreign currency shortages.