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Deputy Crown Prince Mohammed bin Salman Departs for United States, Set to Meet with Donald Trump
Deputy Crown Prince Mohammed bin Salman is set to visit Washington, D.C. this week and will meet with President Trump. The Saudi Royal Court, in a statement carried by the official Saudi Press Agency, said that Prince Mohammed will meet with the President and a number of US officials to discuss “the strengthening of bilateral relations […]
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Saudi Arabia’s Fiscal Balance Program (FBP) 2020: The Kingdom’s Path to Fiscal Sustainability
Fiscal reforms already underway in Saudi Arabia could save the Kingdom as much as SR362 billion ($97 billion) annually by 2020, leading to a surplus of SR162 billion ($43 billion) annually, according to a recent analysis by Jadwa Investment. That amount is a significant increase as compared to if nothing was done to address Saudi Arabia’s fiscal […]
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Saudi Arabia Gains ‘Upper Hand’ in Competition for Asia Energy Demand with Massive $7b Aramco-Petronas Deal
Oil giant Saudi Aramco signed a $7 billion deal Tuesday to take a 50 percent stake in a mega Malaysian oil refinery project, in a pact expected to help Saudi Arabia increase trade in Southeast Asia and give the Kingdom an “upper hand” in the supply competition for Asia’s energy demand, according to reports. Saudi […]
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Saudi Arabia Makes Diplomatic Push to Warm Ties with Iraq
Saudi Arabia’s Foreign Minister Adel Al-Jubeir made a surprise trip to Iraq on Saturday, the first trip there by a Saudi foreign minister since 1990. While in Baghdad, Al-Jubeir met with Iraqi Prime Minister Haider Al-Abadi and his counterpart, Ibrahim Al-Jaafari. Al-Jubeir said that Saudi Arabia plans to appoint a new ambassador and resume direct flights […]
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Petrochemicals Sector in Saudi Arabia Remains Vital for Vision 2030 Aims
The Petrochemicals sector in Saudi Arabia makes up 60% of the Kingdom’s non-oil exports and remains vital to the Kingdom’s Vision 2030 aims, according to a recent study on the sector released by Jadwa Investment. The sector’s prominence in the non-oil economy means it has been identified by both the National Transformation Program (NTP) 2020 and […]
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“Ken of Arabia” Lands Moelis and Co. as Lead Advisor for Saudi Aramco IPO
Saudi Aramco has chosen New York-based boutique investment bank Moelis & Co as an adviser on its plans for what is expected to be the world’s biggest initial public share offer, Reuters reports. Moelis & Co secured the role of lead independent adviser. The selection is set to move the small newcomer, and its CEO, […]
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Raw Video Emerges of Houthi Attack on Saudi Frigate as U.S. Sends Destroyer to Red Sea
Raw video has emerged online of a Houthi attack on a Saudi frigate that damaged the ship and drew the condemnation of Saudi Arabia and its allies. Suicide boats belonging to the Houthi militias from Yemen struck the Saudi frigate off Hodeida port in the Red Sea. Two crew members were killed and three were […]
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Saudi Restarts Renewable Energy Investment Plans with up to $50b in Solar, Wind by 2023
Saudi Arabia appears to be re-starting its efforts to expand renewable energy projects to meet growing domestic power needs with up to $50b invested through 2023, according to reports and comments by the Kingdom’s energy and industry minister Khalid al-Falih. The projects, part of the National Renewable Energy Plan (NREP) will be managed under a […]
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Jeddah Cell Connected to ISIS Busted after Two Saudis Blow Themselves Up During Raid
Saudi Arabia has busted a large terror cell after two Saudis blew themselves up during a gun battle in Jeddah, the Kingdom’s second-largest city. In addition to the two dead, 16 suspected terrorists have been arrested, including three Saudis and 13 Pakistani nationals, according to the Saudi Gazette. The Kingdom has also named the two […]
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Saudi Arabia May Cancel $20b in Projects to Cut Costs, Hires PwC
Saudi Arabia is reportedly working with accounting and consulting firm PricewaterhouseCoopers (PwC) on plans to cancel up to $20 billion of projects as the Kingdom continues to seek ways to cut costs as part of economic reforms, Bloomberg reports. The Ministry of Economy and Planning has appointed PwC to review $69 billion of government contracts and aims […]
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Saudi Aramco Looks to Secure More Downstream Oil Deals in Asia
Aramco is looking to seal more downstream deals in Asia, particularly in China and India, as it bets on continued demand growth in its most important market for long-term buyers of its crude, the Saudi oil giant’s Downstream President Mohammed Al Qahtani told Bloomberg in an interview. Saudi Aramco, the world’s top crude exporter and the biggest oil firm in terms of both production and market capitalization, has already struck several deals to buy stakes in Chinese refining and chemical projects and has recently entered Pakistan’s downstream sector. But it is on the hunt for more deals. “Really, the big growth markets for us are China, India and southeast Asia,” Al Qahtani told Bloomberg in an interview in Dhahran, Saudi Arabia.
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Saudi Arabia’s NEOM: $500 bln project unveils new mega resort and nature sanctuary
Saudi Arabia’s NEOM – the Kingdom’s $500 billion mega business and tourism project – has announced plans to develop a new mega luxury resort amid a restored sanctuary filled with animals and wildlife.
Spread across four square kilometers, ‘Zardun’ will be a “carefully restored haven filled with native plants and animals”, which will feature an exclusive nature-based resort that will host four ultra-luxury signature buildings, NEOM said in a statement.
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Commentary: Is America’s Tower 22 in Jordan ‘ground zero’ for a new battlefront in the Middle East?
The killings have transformed the third flashpoint in the region, repeated attacks on US troops and facilities in the Middle East, from the least to the most alarming minefield. It now outstrips – at least, for Americans – daily violence on the Israel-Lebanon border and Houthi piracy in the Red Sea. Responding to the attack with firmness, yet also without intensifying a drift towards regional conflict, will be the most challenging spill-over yet of the October 7 crisis for the Biden administration.
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Biden faces pressure to strike Iran after US troops killed
The killing of three U.S. troops and wounding of dozens more on Sunday by Iran-backed militants is piling political pressure on President Joe Biden to deal a blow directly against Iran, a move he's been reluctant to do out of fear of igniting a broader war.Biden's response options could range anywhere from targeting Iranian forces outside to even inside Iran, or opting for a more cautious retaliatory attack solely against the Iran-backed militants responsible, experts say.
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Nigeria oil enters unclear new era after Shell’s onshore asset sale
Shell's exit from Nigeria's onshore oil sector highlights risks oil majors face in Africa's biggest exporter but has raised hopes that local firms could reverse the output decline from the Niger Delta, industry officials and analysts said.Shell – which pioneered Nigeria's oil industry – is the most prominent Western company to exit the Delta, a region blighted by pollution, oil theft and pipeline vandalism. Those issues have for years stymied investment – and throttled production and government finances.
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3 US troops killed, 25 wounded in Iran-backed drone attack in Jordan
Three US military personnel were killed and at least 34 wounded when a one-way attack drone struck a base in northeast Jordan near the Syrian border on Sunday. The lethal incident marks the first time US troops have been killed in the near-daily rocket and drone barrages on bases they use in Iraq and Syria, sharply increasing the likelihood that the United States will be drawn into a lethal cycle of retaliation with Iran-backed militias in the region. There have been more than 160 such attacks since Israel’s war in the Gaza Strip began following the Oct. 7 attack by Hamas. Until now most had been thwarted by US ground-based air defenses, US officials have said. Read more: https://www.al-monitor.com/originals/2024/01/3-us-troops-killed-25-wounded-iran-backed-drone-attack-jordan#ixzz8QDbc9g4W
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Saudi Arabia: 25,000 chip-fitted carpets spread across Prophet’s Mosque
A revered destination for millions of Muslims from around the world, the Prophet’s Mosque, Islam’s second holiest site, is the focus of utmost care from Saudi authorities.A state agency in charge of the place in the Saudi holy city of Medina takes interest in ensuring comfort for worshippers. Part of this attention is paid to more than 25,000 carpets stretched across the mosque and its courtyards.The carpets are daily sterilised and scented with the finest perfumes. An electronic chip is attached to each carpet to track its place and learn about the history of its cleaning, sterilisation and scenting, according to the Saudi news agency SPA.
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Dream of the Desert luxury train to be operational in Saudi Arabia in 2025
Saudi Arabia Railways (SAR) and the Italian Arsenale Group, which specializes in managing luxury train trips, agreed to launch the Dream of the Desert luxury train service in Saudi Arabia. The Dream of the Desert train, which will have 40 luxury cabins and a maximum capacity of 80 passengers, is due to arrive in Saudi Arabia in the summer of 2025, with the first paying guests scheduled to depart in November 2025.
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Royal Commission for AlUla CEO arrested for abuse of power and money laundering
Eng. Amr Al-Madani, CEO of the Royal Commission for AlUla, was arrested over charges of misuse of authority and money laundering involving SR206 million.
The partners of Al-Madani in a company were also arrested, according to an official source at the Oversight and Anti-Corruption Authority (Nazaha). Al-Madani was detained for his involvement in crimes of abuse of power and money laundering through obtaining contracts for the National Talents Company from King Abdullah City for Atomic and Renewable Energy in an illegal manner. -
Saudi Arabia welcomes ICJ’s decision against alleged Israeli genocide in Gaza
The Saudi Foreign Ministry has welcomed the International Court of Justice's (ICJ) initial ruling, which addresses alleged genocidal practices and statements against Palestinians in Gaza.
The Ministry supports the decision and condemns Israeli occupation practices, as well as violations of the Genocide Convention. The Ministry also commended South Africa for initiating the lawsuit and urged the international community to intensify efforts to end violence in Gaza, protect Palestinians, and hold Israel accountable for alleged violations of international and humanitarian law. - 10 of 57625 results<< 1 … 176 177 178 … 5,763 >>