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  • Qatar to introduce options, futures in new derivatives exchange – regulator

    Qatar's bourse plans to introduce a new derivatives market that will allow investors to trade options and futures on local stocks and its equity index, the country's financial regulator said on Monday. The Qatar Financial Centre Regulatory Authority (QFCRA) issued a new regulatory framework for listed derivatives after a three-month consultation with investors and market participants. The exchange also plans to set up an entity that will provide clearing and settlement services for trades in options and derivative contracts, QFCRA said in the statement.

  • ‘Sea change’: disruptive Saudi prince shows new pragmatism with Iran

    Anna Jacobs of the International Crisis Group added: "Lowering the temperature with Iran is a smart way to lower tensions across the region and mitigate some of the proxy battles surrounding Saudi Arabia." The next step for implementing the deal is a meeting between the two countries' foreign ministers, though it has not yet been scheduled. Earlier this week, an Iranian official said President Ebrahim Raisi had favourably received an invitation to visit Saudi Arabia from King Salman, Prince Mohammed's father, though Riyadh has yet to confirm.

  • Opinion: Real change between Saudi Arabia and Iran would benefit all

    Hassan Fahs, a Lebanese researcher specializing in Iranian affairs, said in an article published on the Independent Arabia website that the Iranian side “has reached an implicit conviction and recognition of the strategic mistake that the regime contributed to making about seven years ago, when it allowed some extremist groups to violate all diplomatic norms and international covenants that protect diplomatic representations and attack the Saudi embassy in the capital, Tehran, and its consulate in the city of Mashhad.

  • Moody’s changes the rating outlook of six Saudi corporates to positive from stable; affirms ratings following sovereign action

    Moody's Investors Service ("Moody's") has today affirmed the ratings of the following six entities domiciled in Saudi Arabia and changed their outlook to positive from stable. • Saudi Arabian Oil Company (Saudi Aramco) • Public Investment Fund (PIF) • Saudi Basic Industries Corporation (SABIC) • Saudi Telecom Company (stc) • Saudi Power Procurement Company (SPPC) • Saudi Electricity Company (SEC) The rating actions follow Moody's decision on 17 March 2023 to affirm the A1 rating of the Government of Saudi Arabia and change the outlook to positive from stable. For further information on the sovereign rating action, please refer to the press release

  • Commentary: The Iran-Saudi Agreement is Not a Game Changer

    With diplomatic achievement comes obligation, and Kingdom officials, U.S. officials, and members of Congress will each expect China to contribute to Gulf stability by pressing Tehran to rein in its objectionable behavior. U.S. officials have assessed that the Iran-Saudi pact could, at the very least, lead to a settlement of the long-running war in Yemen. Those expectations might be met, as the various parties to that conflict have been seeking a solution for more than a year.

  • Kuwait fires over 1,500 teachers amid expat worker rule changes: Report

    More teachers are to be laid off, the sources said, adding that education zones are “reviewing their actual need of teachers and those who are not needed to announce who will be let go before the end of May.” These education zones are reportedly waiting for the end of the second school term at Kuwait University and Public Authority for Applied Education and Training to welcome new Kuwaiti teachers who graduate from education colleges.

  • ‘Positive change has ceased’ for workers in Qatar since World Cup, unions say

    Migrant workers in Qatar are facing deteriorating conditions since the World Cup, with rogue employers “emboldened by an absence of enforcement and growing confidence that rights violations will go unpunished”, a coalition of eight global union federations has said. In a statement on the eve of Fifa’s 73rd congress, taking place in Rwanda, the unions also express “serious concerns on the decent work legacy of the World Cup and the sustainability of labour reforms in Qatar”.

  • Saudi-Iranian Normalization: Changes in Regional Dynamics

    Saudi Arabia acknowledged that while this agreement was promising, not all of the differences between the two countries would be immediately resolved. Cited in the Saudi Gazette, the Kingdom’s Foreign Minister Prince Faisal bin Farhan stated: “Saudi Arabia’s agreement with Iran to restore diplomatic ties does not mean that both countries have reached a solution to all disputes between them. He emphasized that the Saudi-Iranian agreement to restore diplomatic relations underscores the joint desire by both sides to ‘resolve disputes through communication and dialogue’...Prince Faisal reaffirmed that Saudi Arabia is forging ahead in the path of de-escalation it has chosen because of its sense of responsibility in bolstering regional and international security and stability.”

  • Bahrain, Iran held ‘low-profile exchanges’ amid Iranian-Saudi détente | Amwaj.media

    Speaking on condition of anonymity, a senior regional source asserted that “after the reopening of the embassies in Tehran and Riyadh, there will after a short period of time also likely be a normalization between Iran and Bahrain.” He added to Amwaj.media, “There is no serious [outstanding] issue between Iran and Bahrain.”

  • Saudi Arabia announces major visa rule change

    Saudi Arabia has announced a major change to the visa application process for residents of GCC countries. Residents of GCC countries can now apply for tourist visas regardless of their profession. The announcement was made by the Kingdom’s tourism minister, Ahmed al Khateeb.