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PlasticsSipchem, Hanwha open solar film plant in Saudi Arabia
The facility, in the special economic zone of Hail, will have an annual capacity of 4,000 metric tons of ethylene-vinyl acetate film when it’s fully commercialized. The operation is part the Saudi company’s efforts to bring more plastics processing and downstream operations to the Kingdom to complement its resin manufacturing.
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Saudi Budget - 2015Saudi Arabia cannot do without high state spend
On the deficit side, it was the first time in seven years that the Kingdom has reported one, again reaffirming the significance of oil prices in its calculations. The treasury posted a surplus of $103 billion in fiscal year 2012 when the average price of crude was $109 a barrel. It fell to $53 billion in 2013 with the decline in oil price to $105, and coupled with stronger actual state spending.
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Saudi-IraqOn the ISIS attack on Saudi Arabia’s borders
We must not underestimate ISIS, although many think it is a gathering of fanatic madmen. ISIS is a developed model of al-Qaeda and it has extraordinary military and administrative skills.
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Global Oil MarketsBrent falls more, Saudi Arabian king issues speech
Saudi Arabia's King Abdullah said in a speech read for him on Tuesday the country would deal with the challenge posed by lower oil prices "with a firm will" but gave no sign the world's top exporter was considering changing its policy of maintaining production in the face of fast-growing U.S. shale supplies.
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Regional ChallengesOpinion: Saudi Arabia Faces Challenges in the New Year
The next year will see the Sunni presence in Syria attempt to coalesce behind rebels acceptable to Western governments that are eager to see negotiations begin and greater local pushback against the Islamic State. More cohesive Gulf leadership will also present a more effective bulwark against Iranian and Alawite interests in the Levant. Most important, however, is the opportunity for regional Sunnis, led by Saudi Arabia, to present a more mature and capable response to mounting pressures. Whether through more assertive military moves in the region or by working with states such as Qatar to steer the Muslim Brotherhood rather than embolden the Islamist opposition, 2015 will likely see a shift in Sunni Arab strategies that have long shaped the region.
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Tadawul OpeningEntry of foreign investors into Saudi Arabia’s stock market to awaken ‘sleeping giant’
It could be the investment landmark of 2015 in the GCC region.
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SaudiaSaudi Arabia’s National Airline Refutes Gender Segregation Rumors
Despite various media reports late last week, Saudi Arabia's national airline, Saudia, has confirmed that it has no plans to segregate its cabins by gender in response to recent complaints from male passengers.
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Saudi-IraqOpinion: Can relations between Iraq and Saudi Arabia improve?
Though foreign missions in the Iraqi capital face the danger of attack, the Saudi Ministry of Foreign Affairs has decided to send a technical team to choose a new location for its embassy in Iraq, which closed its doors 24 years ago. The visit aims to break the ice in a relationship that has been frosty for the past 10 years. Saudi Arabia has also decided to open a consulate in the Kurdistan region, finally implementing a decision which had previously been delayed due to political and security tensions.
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Saudi - IraqSaudi Arabia to reopen Baghdad embassy after 25-years
A Saudi delegation will travel to Baghdad in the coming week to start preparations to reopen an embassy in the Iraqi capital for the first time in 25 years, official Saudi media said on Saturday. A thaw in the once chilly relations between Sunni-ruled Saudi Arabia and Shi'ite-led Iraq could help strengthen a regional alliance against militants who have seized territory in Iraq and Syria.
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Saudi-IranOpinion: Saudi Arabia will not save Iran’s economy
Who would have believed it? Iran needs a savior, but seeks help not from its main strategic ally Russia, nor from its friend and partner Iraq, nor from Venezuela, Turkey, or even Oman or Qatar; no, from its old rival, Saudi Arabia. Speaking to Reuters last week, Iranian Deputy Foreign Minister Hossein Amir Abdollahian asked the Kingdom to intervene to stop oil prices from tumbling further, or else countries in the Middle East will face serious harm.
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