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U.S., Saudi Business Leaders to Meet in Riyadh for U.S.-Saudi CEO Summit, GCF 2016
U.S. and Saudi business leaders will convene in Riyadh this weekend and into next week for events aimed at promoting business opportunities and investment in Saudi Arabia and enhancing the bi-lateral commercial relationship with the United States. The inaugural U.S.-Saudi CEO Summit, organized by the U.S. Chamber of Commerce and the Council of Saudi Chambers […]
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IMF Backs Saudi Cuts, Puts Saudi Growth Forecast at 1.2 Percent in 2016
The “new reality” of lower crude prices means governments in the Gulf – and especially Saudi Arabia – are right to cut spending to reflect this new fiscal reality, the IMF said. The IMF slashed its forecast for growth in Saudi Arabia, as it blamed the slowing Chinese economy, the collapse in oil prices and […]
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Saudi-led Intervention in Yemen to Restore Hadi Continues into 10th Month with ‘Different Objectives’
The Saudi-led intervention in Yemen continues into its 10th month of fighting with some gains but no decisive victory for the coalition seeking to restore power to the UN-recognized Hadi government and oust control of parts of the country from Houthi militia members. The coalition has retaken Aden, Yemen’s southern port, and according to Saudi […]
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Oil Dips Below $30 on Brent for the First Time Since 2004 as Iran, China Put Downward Pressure on Prices
The price of oil on Brent fell below $30 a barrel for the first time since April 2004, but eventually recovered to $30.22, according to reports. Oil prices have fallen by 70% in the past 15 months. A gusher of supply from around the world continues to put downward pressure on prices. According to CNBC, U.S. […]
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With 49 New Arrests, Saudi Arabia Continues Clamp Down on Domestic Extremists
Saudi Arabia has arrested 49 suspected terrorists over the past 10 days, according to Saudi officials and as reported in the Saudi Gazette. The arrests were “a preemptive crackdown in various parts of the Kingdom,” security sources said, adding that the suspected terrorists surrendered without any resistance. They consisted of 36 Saudis, six Syrians, four Yemenis, a […]
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Saudi Arabia’ Deputy Crown Prince Mohammed bin Salman Gives His First On-the-Record Interview
Saudi Arabia’s Deputy Crown Prince and defense minister Mohammad bin Salman spoke to The Economist on January 4th in his first on-the-record interview. [Full transcript of the interview available here] [Economist leader here] The interview touched on a wide range of subjects with the son of King Salman, beginning with 7 questions on Saudi Arabia’s […]
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Saudi Arabia’s 2016 Budget Features Prudent Fiscal Policy Decisions
Saudi Arabia’s 2016 budget marks a shift in fiscal policy toward prudent but tough decisions for the future of the Arab world’s largest economy. In a recently released note to investors, Riyadh-based Jadwa Investment said the 2016 budget still provides a high level of government spending to drive the Saudi economy. Budgeted at $226b, the amount is a […]
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King Salman’s Speech to Shura: The Kingdom is Committed to Decreasing Dependence on Oil as a Main Source of Revenue
Saudi Arabia’s King Salman said in a major speech today that Saudi Arabia will seek to diversify its sources of income and improve the efficiency of government spending as it strives to reduce its dependence on oil revenue, which has plunged since last year, Reuters reports. “The kingdom is committed to implementing programs to diversify […]
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Saudi Arabia Extends Financial Support of Egypt, Despite Fiscal Strains at Home
Saudi Arabia has extended its financial support of the Egyptian government to an added $8 billion in 5 years, along with energy concessions and other assistance, despite facing a budget crunch at home. The announcement followed a meeting between Deputy Crown Prince Muhammad Bin Salman, Second Deputy Premier and Minister of Defense, and Egyptian Prime […]
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9th Global Competitiveness Forum (GCF) in Riyadh Set for January 24-26, Will Examine ‘Key Drivers’ of Competitive Sectors
Business and political leaders will converge in Riyadh for the 9th Global Competitiveness Forum (GCF) to “discuss the key components that drive competitiveness” in the Saudi economy on January 24-26, 2016. The event is hosted by the Saudi Arabian General Investment Authority (SAGIA) and will take place at the Four Seasons in Riyadh.
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Insurgency Deepens Iraqi Ethnic, Sectarian Divides
The offensive by the Sunni militants is threatening to reshape the demographics of once-mixed communities by dividing territory along ethnic and religious lines, Iraqi and Kurdish officials say.
Kurds, Christians and other minorities were driven from their homes by the insurgents' rapid advance. But even after Kurdish forces, aided by U.S. airstrikes, wrested back control of some of the towns, many are refusing to move back if their Sunni Arab neighbors are also allowed to return.
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Militants’ Siege on Mountain in Iraq Is Over, Pentagon Says
Defense Department officials said late Wednesday that United States airstrikes and Kurdish fighters had broken the Islamic militants’ siege of Mount Sinjar, allowing thousands of the Yazidis trapped there to escape.
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Iraq: Al-Abadi garners Iranian, US, Saudi Support: But can He Unite Iraq?
The chairman of Iran’s national security council, Ali Shamkhani, congratulated al-Abadi and said that Iran approved of the legal process whereby President Fuad Masoum appointed the new PM. This entire line of reasoning was a slap in the face to outgoing prime minister Nouri al-Maliki, who argues that Masoum acted unconstitutionally in appointing anyone but Maliki and has said he will challenge the step in the supreme court. Shamkhani appeared to caution al-Maliki and others against opposing al-Abadi, calling on “all political blocs” to abide by “the rule of law” and to unite in the face of the threat posed by an “external enemy.” Some observers believe that al-Abadi was pressed on Masoum by Iran to begin with and is now Tehran’s candidate.
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US State Department Approves New Hellfire Sale to Iraq
The US State Department has approved two new lots of weapon sales to Iraq at a time when that government is desperately trying to fight off the encroachment of the militant Sunni Islamic State. The larger agreement would procure 5,000 AGM-114K/N/R Hellfire missiles for the Iraqi military for $700 million. Lockheed Martin is the principal contractor on the agreement.
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Saudis Alert to Enemies on Both Sides of Iraq Schism
Saudi Arabia is a target for both sides in Iraq’s deepening conflict, one reason it has ramped up security levels to confront a threat that’s more immediate than the Arab Spring revolts three years ago.
- Washington Post - Five myths about the Islamic State
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- Washington Post - In Iraq, airstrikes slam into Mosul, city held by al-Qaeda-inspired militants
- DefenseOne - ‘You Have to Kill Them’ Says Former U.S. Ambassador to Iraq
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Iraqis brave blasts to vote for ‘change’ | Arab News — Saudi Arabia News, Middle East News, Opinion, Economy and more.
An Iraqi woman casts her vote in Iraq's first parliamentary election since US troops withdrew at a polling station in the Iraqi city of Kirkuk on Wednesday. (AFP)
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