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Syrian Rebels Summit As Riyadh Eyes Political Solution
Rebel factions in Syria’s bloody 4-year civil war meet in Saudi Arabia this week for a conference as Riyadh looks for a political solution to the crisis. Around 100 representatives of the Syrian opposition representing 70,000 “moderate rebels” in the fight held the first meeting of its kind in the Saudi capital. Western nations have observer status at […]
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State Sovereign Wealth Funds Pull Out ‘At Least $19bn’ in Assets from Managers in 3Q 2015
Sovereign Wealth Funds are drawing down on their assets held by managers at an alarming rate, with estimates from some providers putting the amount at $19bn in the third quarter of this year alone, according to reports. A Financial Times report (link here to the same story in CNBC) cites the data provider eVestment as saying the drawdown […]
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Jadwa Investment: A ‘Mixed Picture’ for Domestic Economic Activity in October 2015 Data
Riyadh-based Jadwa Investment’s December 2015 Saudi Chartbook finds a ‘mixed picture’ for Saudi domestic economic activity. While data on consumer spending pointed to healthy growth, PMI fell to its lowest point on record. The Data also show the first positive net monthly change to government accounts with SAMA: Real Economy: October data showed a mixed picture for domestic […]
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Saudi Forces Train to Fight in Rugged Mountain Terrain as War in Yemen Continues
Military personnel from Saudi Arabia were photographed by the official Saudi Press Agency (SPA) training in remote mountain terrain as the battle against the Houthi rebels in Yemen continues. Victory has remained elusive for the Saudi-led coalition fighting in Yemen, but steady gains on the back of coalition airstrikes have turned the tide in the […]
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Saudi Shoura Council Approves Tax on Vacant ‘White Properties’ in Saudi Arabia
Saudi Arabia’s Shoura Council has approved a plan to tax landowners on vacant properties following an earlier Saudi Cabinet decision to pursue a tax on so-called ‘white properties.’ The plan was approved by Saudi Arabia’s King Salman in March and the issue was sent to the Shoura council to be voted upon. It still awaits […]
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KAUST Announces New Partnership with Dow, Launches Venture Capital Fund with ICD
Saudi Arabia’s King Abdullah University of Science and Technology (KAUST) announced two new partnerships this week, including a R&D agreement with Dow Chemical and the creation of a venture capital fund with the Islamic Corporation for the Development of the Private Sector (ICD). The university’s campus is now the future home of the new Dow Middle East […]
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Saudi Stock Market’s Key Players Undertake Roadshow to Promote Investment in Saudi Arabia’s Tadawul
Key players in Saudi Arabia’s stock market have embarked on a “global roadshow” abroad to show off the attractiveness of the investment climate in Saudi Arabia, according to reports, with officials meeting potential investors in New York, London, and Singapore. Saudi Arabia’s Tadawul opened to wider foreign investment in July 2015, but it did so […]
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Uber Eyes Fast-Growing MENA Markets for $250m Expansion
Uber Technologies Inc. is investing $250 million to expand in the Middle East and North Africa, which have some of the ride-sharing service’s fastest-growing markets, Bloomberg reports. Uber is already in Saudi Arabia, and the ride-sharing app is having a significant impact on the transportation economy there. And Uber is also making a social impact. Since […]
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Al-Jubeir: Yemen’s War in the ‘Final Stage’; But Victory May Still Prove Elusive
Saudi Arabia’s Foreign Minister Adel Al-Jubeir said that the Saudi-led coalition battling the Houthi rebels in Yemen is entering its final stages. “I am confident that the Yemeni conflict has entered its final stage, and I’m optimistic,” Al-Jubeir said. “There are indications that the war in Yemen is entering a final phase. The legitimate government […]
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Ahead of Critical Syrian Peace Summit, Saudi Arabia Looks to ‘Test’ Iran on Commitment to Peace
Vienna, Austria will play host to a crucial meeting on Friday on the future of Syria and international efforts to end the bloody 4-year civil war that has left hundreds of thousands dead and has served as a breeding ground for Daesh, or the self-described ISIS. For the first time, all the main powers with […]
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Commentary: What Will the United States Do after the Drone Strike in Jordan?
While some sort of U.S. military action this week can be expected, the prospect of the United States brokering another temporary ceasefire in Gaza will remain the main focus of White House efforts. An agreement in Gaza would lower the regional temperature, rebuild cooperation with U.S. allies in the region, and put some wind in the sails of U.S. diplomacy.
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Hamas studies new Gaza ceasefire proposal
Hamas said on Tuesday it would study a new ceasefire proposal in the war with Israel in Gaza, hours after Israeli commandos killed three Palestinian militants in a raid on a hospital in the occupied West Bank. The raid underscored the risk of the Gaza war spreading to other fronts, while Israeli forces fought new battles with Hamas fighters in the Palestinian enclave. Clashes in northern Gaza forced more Palestinian residents to flee to safer areas, and southern parts of the coastal enclave were hit by Israeli air strikes.
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UN urges reversal of funding pause for Palestinian refugee agency
U.N. officials urged countries to reconsider a pause in funding for the U.N. agency for Palestinians on Sunday, pledging that any staff found involved in Hamas' attack on Israel would be punished and warning that aid for some two million people in Gaza was at stake. At least nine countries, including top donors the U.S. and Germany, have paused funding for the UNRWA refugee agency after allegations by Israel that a dozen of its 13,000 staff in Gaza were involved in the Oct. 7 rampage.
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Pakistan court jails ex-PM Imran Khan for 10 years days ahead of polls
A Pakistan court sentenced Imran Khan to 10 years' jail on Tuesday for leaking state secrets, his party said, the harshest sentence the former prime minister and cricketer has ever received and coming just days before national elections. The special court found Khan guilty of making public the contents of a secret cable sent by Pakistan's ambassador in Washington to the government in Islamabad, his Pakistan Tehreek-e-Insaf (PTI) party said. Former foreign minister Shah Mehmood Qureshi was also sentenced to 10 years in the same case.
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After drone attack on U.S. forces in Jordan, Pentagon sees ‘escalation’ but not ‘widening’ of war
“I wouldn't say that the conflict is spreading … But this attack was certainly escalatory,” Singh told reporters, adding that Iran “bears responsibility” for Sunday’s attack because of the decision to arm the groups that carried out the attack. But she stopped short of saying Iran played a direct role in planning, directing, or approving the strike.
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Cutting-edge defense assets set to land in Saudi Arabia for defense show
The occasion will also include air displays of various combat aircraft, including the Calidus B250 light attack aircraft, Eurofighter Typhoon, Dassault Rafale C, and F-15s, taking center stage daily. The Pakistan Air Force will also make an appearance with three JF-17 Thunder multi-role combat aircraft. Furthermore, UAV capabilities will be on full display, featuring the Red Cat Teal2, Firejet M180, and Skydio X10D. The static display area will showcase over 50 fixed-wing and rotary aircraft, offering visitors an up-close look at the Cessna Caravan, Boeing Chinook, Airbus A320, A321, and Cougar helicopter, Sikorsky Seahawk and Blackhawk, Bombardier Global 6500, Embraer KC-390, and the classic Lockheed Martin C-130.
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What it’s like to take a road trip in Saudi Arabia
Think of road trips and you might automatically imagine motoring along US highways, or roaming country to country through the mountains and vales of Europe. But it’s also possible in Saudi Arabia and – although some people might believe this would be a dusty, boring experience – it offers a surprisingly varied driving experience, along blacktop and gravel, through stunning deserts, bustling towns and lush oases.
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Saudi Aramco Drops Expansion Plan, Raising Demand Questions
The surprise move comes after the world’s biggest oil exporter had said in November that it was progressing “very well” with a multibillion-dollar project to boost capacity to 13 million barrels a day by 2027 as demand in China and India continues to grow. Saudi Arabia currently has capacity for 12 million and is producing about 9 million a day, after it curbed output as part of OPEC+ efforts to revive the global oil market and prevent a surplus.
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Saudi Arabia asks Aramco to lower its maximum capacity target
Saudi Arabia's government on Tuesday ordered state oil company Saudi Aramco (2222.SE), opens new tab to halt its oil expansion plan and to target a maximum sustained production capacity of 12 million barrels per day, one million bpd below a target announced in 2020. Saudi Arabia has for decades been the holder of the world's only significant spare oil capacity, providing a safety cushion in case of major disruptions to global output such as those caused by conflict or natural disasters. In recent years, fellow OPEC member the United Arab Emirates has also built up its capacity.
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Saudi ambassador ‘disappointed’ over ‘western centric’ criticism of mulled WTA Finals move
he criticism over moving the Women's Tennis Association Finals to Saudi Arabia represents stereotypical and western-centric views, Saudi ambassador to the United States Reema bint Bandar Al-Saud has said. The debate over hosting the event in the Gulf country has intensified, especially after notable opposition from tennis greats Chris Evert and Martina Navratilova, who expressed opposition in the Washington Post.
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