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Saudi Drawdown on Reserves Continues, but Slows to Lowest in 8 months – Jadwa Chartbook
Saudi Arabia continued to drawdown on reserves in June, but at the lowest rate in 8 months, according to a recently released report by Jadwa Investment. Riyadh-based Jadwa found net withdrawals from Saudi government accounts fell to their lowest point in eight months, with $3 billion of net withdrawals in June while foreign reserves fell by $7.6 billion […]
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Crown Prince Naif Visits Site of ISIS Attack as Leadership Vows Action Against ‘Criminals’
Last week’s mosque attack in the Asir region of Saudi Arabia will not divide Saudi Arabia, Crown Prince Naif said as he visited the site of the massacre. “The terrorist bombing revealed the extent of hatred of these criminals as well as their disregard for the sanctity of God’s houses and the lives of innocent people, […]
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The Number of Women Employed in Saudi Arabia has Increased by 48% since 2010
Saudi women are entering the workforce in greater numbers as a promising report by Saudi Arabia’s Central Department of Statistics finds a significant uptick in women employed in Saudi Arabia. The increase of 48% since 2010 is encouraging news for the government of Saudi Arabia. The report reflects a slow but seismic shift in Saudi society […]
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‘ISIS Offshoot’ Claims Responsibility for Terrorist Attack in Asir as Images Emerge of Aftermath
An alleged new branch of ISIS in Saudi Arabia has claimed responsibility for an attack that targeted a mosque used by police special forces in the kingdom’s southwest, according to latest reports. The suicide bomber attacked a mosque inside a local security force headquarters in Abha, the capital of Saudi Arabia’s south western province of Asir, […]
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Blast Hits Mosque in Asir Province, at Least 13 Confirmed Dead in Third Major Mosque Attack in 2015
A suicide bomber attacked a mosque inside a local security force headquarters in Abha, the capital of Asir province near the Yemeni border. The Guardian reports that, “Ten members of emergency services and three mosque workers killed when a bomber detonated vest during noon prayers in Asir.” The attack is the third such attack in Saudi Arabia […]
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Saudi Stock Market Faces Tough July: Value of Shares Traded Tumbles 25% but Market Seen As ‘Resilient’
The kingdom’s Tadawul All Share Index has retreated 4.2 percent since the end of June as value of shares traded for July decreased 25 percent over the previous month, according to reports. However, compared with the significant drop in Brent Crude oil of 21 percent in that period, the market has “shown its mettle” in what […]
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Secretary Kerry Returns to the Region for Meetings with Egypt, Qatar
US Secretary of State John Kerry departed late Friday to Egypt and Qatar for a round of diplomatic talks, where the Secretary hopes to ease Gulf countries’ concerns about the Iran nuclear deal. The trip will not include a stop in Israel, according to reports. Today, Secretary Kerry will travel to Doha to meet with his […]
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In Egypt, Deputy Crown Prince Mohammed Bin Salman Signs ‘Declaration of Cairo’ as Ties Strengthen
Deputy Crown Prince Mohammed bin Salman and Egypt’s President Sisi signed the “Declaration of Cairo,” a document said to “reinforce the strategic alliance between Egypt and Saudi Arabia,” according to reports. The pact aimed at boosting military and economic ties between the two Arab allies “stressed the need to exert all efforts to boost security […]
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U.S. State Department OKs Sale of 600 Patriot Missiles, Ammunition and Arms to Saudi Arabia
The U.S. State Department today approved the sale of 600 patriot missiles to Saudi Arabia at a cost of $5.3 billion, according to reports. The additional additional PAC-3 missiles for Saudi Arabia will be built by Lockheed Martin Corp. “The Kingdom of Saudi Arabia has requested a possible sale of six hundred (600) Patriot Advanced Capability-3 […]
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Promising Breakthrough in MERS Vaccine as Infections Continue in Saudi Arabia
Two different animal studies yielded promising findings about a two-step vaccine strategy against the MERS-CoV virus, according to reports, as Saudi Arabia and South Korea continue to battle the disease. According to the Saudi Gazette and agencies, “vaccinated mice produced antibodies that neutralized MERS strains, according to a study from the US National Institute of […]
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Saudi Arabia, Muslim world gear up as Ramadan begins
Joining Saudi Arabia, Qatar and the UAE have also confirmed that Ramadan will begin on Monday, with Oman, Pakistan, Indonesia, Australia, Malaysia, Brunei and Iran to follow a day later. The determination of the starting date relies on both lunar calculations and physical sightings of the new moon, a practice steeped in Islamic tradition. Al-Khudairi said: “Calculation and technology are complementing the sighting process. I say that the astronomical calculations and the naked eye sighting, like the human’s eyes, they need one another.”
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Saudi Arabia rounds up record 23,040 illegals in weekly swoop
Saudi authorities have arrested 23,040 foreign violators of the kingdom’s residency, labour and border security laws in one week, the highest such weekly arrests in more than two years. The arrests were made across the kingdom during the February 29-March 6 period.
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Opinion – Gaza may be the crucible for new order in the Middle East
The Middle East is at a hinge moment. The old order is collapsing, and a new one has yet to emerge. While the region’s tectonic shifts predate Hamas’s terror attack on Oct. 7, the ensuing conflict in Gaza and its reverberations across the region are the crucible in which the new contours of the Middle East will take shape.
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Red Sea: US, UK and French destroy dozens of Houthi drones
US military said at least 28 uncrewed aerial vehicles (UAVs) were downed over the Red Sea early on Saturday. Along with coalition forces, the US said it acted after determining the "large-scale" attack "presented an imminent threat to merchant vessels". The Houthis said they had targeted a commercial ship, Propel Fortune, and a number of US destroyers.
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Opinion – Amid the horror in Gaza, it’s easy to miss that the Middle East has changed
While it used to be that the large Arab countries were dominant — because of history, size, armies, etc. — today it is the incredibly wealthy gulf states that set the agenda. Countries such as Egypt regularly depend on their wealthy Persian Gulf neighbors for bailouts and handouts. Second, there has been a broad shift of attitude — against Arab terrorism and toward some kind of reconciliation with and recognition of Israel.
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Saudi-Iranian Relations Restored But Remain Tense
A year after restoring diplomatic ties, Saudi Arabia and Iran still experience tensions. Conversations and diplomatic reopenings haven't translated into significant agreements due to ongoing regional conflicts and deep-seated distrust, especially concerning their allies and the situations in Yemen and Lebanon.
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Saudi Aramco raises 2030 gas target as capex growth to slow on oil
Saudi Arabia's energy giant Saudi Aramco raised its target for increased natural gas production on March 10 and lowered its capital expenditure forecast for crude oil after being ordered to halt work on expanding oil production capacity.
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Saudi Arabia Is Splurging on Sports. Is It Working?
As Saudi Arabia looks toward a post-oil future, the kingdom is spreading around its largess as never before. The Public Investment Fund, led by the country’s de facto leader, Crown Prince Mohammed bin Salman, is making big bets on global sports including golf and football.
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A Saudi business is leaving Arizona valley after it was targeted by the state over groundwater use
Arizona officials said a Saudi-owned company they targeted over its use of groundwater to grow forage crops is moving its farming operation out of a valley in the Southwestern state’s rural west. Gov. Katie Hobbs and the Arizona State Land Department announced late Thursday that Fondomonte Arizona is officially no longer pumping water in the Butler Valley groundwater basin. Some residents of La Paz County had complained that the company’s pumping was threatening their wells.
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Saudi Wealth Fund Eyes $20 Billion Windfall from Aramco Dividend
Saudi Arabia’s sovereign wealth fund is set to earn about $5 billion in dividend payments every quarter from its stake in Aramco after the government handed it more shares in the state-controlled oil company, which then said it would boost shareholder payouts. The hike in Aramco’s dividend, which is set to total at least $124 billion this year, comes days after Crown Prince Mohammed bin Salman ordered the transfer of an 8% stake in Aramco to the Public Investment Fund.
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