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  • US, Israeli intelligence chiefs to discuss Gaza hostage deal -sources

    U.S. Central Intelligence Agency Director William Burns and his Israeli counterpart will meet with Qatari officials in coming days for talks on a second potential Gaza hostage deal, three sources familiar with the matter told Reuters on Thursday.
    Burns and the head of Israel's Mossad intelligence service, David Barnea, will meet with Qatari Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani in Europe this weekend, one official briefed on the meeting told Reuters.

  • China presses Iran to rein in Houthi attacks in Red Sea, sources say

    Chinese officials have asked their Iranian counterparts to help rein in attacks on ships in the Red Sea by the Iran-backed Houthis, or risk harming business relations with Beijing, four Iranian sources and a diplomat familiar with the matter said.
    The discussions about the attacks and trade between China and Iran took place at several recent meetings in Beijing and Tehran, the Iranian sources said, declining to provide details about when they took place or who attended.

  • Global economy outlook at odds with aggressive rate cut bets – Reuters poll

    Global growth is set to stay resilient this year and only pick up pace a bit in 2025, according to a Reuters poll of economists, a stable outlook at odds with still-relatively aggressive interest rate cut bets in financial markets.
    Growth among leading economies is not forecast to be consistent, with relative strength in the United States and India, and sluggishness expected from the euro zone, as well as No. 2 economy China.

  • Dubai’s property boom shows signs of fizzling out

    As cranes speckle the Dubai skyline and ultra-luxury homes change hands at record prices, signs that the city-state's property boom is fizzling out are coming into view.
    Developers, investors and brokers are privately asking how quickly one of last year's hottest real estate markets could turn and whether a painful correction akin to the slump that rocked the emirate in 2008 can be ruled out.
    Since then Dubai has pursued an economic reboot anchored on what it hopes is sustainable growth, including a 10-year plan known as D33, to double output and become one of the world's top four financial centres.

  • Saudi Aramco Keeps Sending Oil Through Houthi-Menaced Red Sea

    “We’re moving in the Red Sea with our oil and products cargoes,” Mohammed Al Qahtani, who heads Aramco’s refining and oil trading and marketing businesses, said in an interview at the company’s headquarters in Dhahran. The associated risks are “manageable,” he said. The decision contrasts with swaths of other tanker owners who abandoned Red Sea trips after the US and UK bombed parts of Yemen in an effort to quell the Houthi attacks. The militants responded by saying both nations’ shipping would be targeted, alongside that of Israel prompting naval warnings for merchant vessels to stay away.

  • Saudi Arabia identifies 1,200 sites for wind, solar projects

    Researchers at King Abdulaziz University recently conducted a techno-economic analysis for utility-scale wind and solar plants in Saudi Arabia. They found that current tariffs make projects economically unviable. The Saudi Power Procurement Co. (SPPC) recently launched the fifth round of the Saudi Arabian government's National Renewable Energy Program (NREP).

  • Delivery orders in Saudi Arabia hit 200M in 2023, Riyadh on top: TGA

    Delivery orders exceeded a whopping 200 million across Saudi Arabia last year, Saleh Al-Zuwayed, Spokesperson for the Transport General Authority (TGA), told Asharq News.   Riyadh had the lion’s share of these orders, followed by Jeddah then the remaining cities.   He added that 37 licensed delivery firms operate in the Kingdom, along with 100 others in the light transport field, which deliver orders of 3.5 million tons maximum. Regulations will drive growth in this activity, while enhancing the quality of services and operating efficiency.   TGA recently issues six regulations for the order delivery sector, to come into force gradually as of next April, Argaam earlier reported.

  • Saudi businesswoman buys signed Ronaldo Al-Nassr jersey for $125,000

    The sale took place during a dinner party on the sidelines of an event in the run-up to the Diriyah ePrix, which will take place on Jan. 26 and 27. In a 65-second video of the auction posted on X, the auctioneer can be heard saying the bidding for the Portuguese star’s shirt has reached $77,500, and he notes his surprise that it is increasing so quickly.

  • Saudi Arabia’s Civil Code: ‘good faith’ in construction contracts

    Saudi Arabia’s Civil Transactions Law clarifies the requirement for ‘good faith’ contracting throughout the lifecycle of construction projects in the Kingdom.  Saudi Arabia's Civil Transactions Law (Civil Code) entered into force on 16 December 2023. In this article, we consider the potential consequences of provisions within the Civil Code requiring parties to contract in ‘good faith’.

  • S. Korea to face Saudi in Asian Cup last 16 as group phase wraps up

    Saudi Arabia, one of the most successful teams in the history of the Asian Cup with three titles, had already qualified out of Group F. Roared on by hordes of their fans at Education City Stadium, one of the venues for the 2022 World Cup, they were held 0-0 by Thailand to top the group in a lively draw that clocked up four disallowed goals. In the other Group F match, Oman drew 1-1 with Kyrgyzstan and finish third. Both sides were eliminated, allowing Indonesia to squeeze through without playing on the day. Read more: https://www.al-monitor.com/originals/2024/01/s-korea-face-saudi-asian-cup-last-16-group-phase-wraps#ixzz8PvysyJwF