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New Saudi Ambassador to United States HH Abdullah Al-Saud Addresses U.S. Business Community at First Public Event
HH Prince Abdullah Al Saud, Saudi Arabia’s new ambassador to the United States, gave his first public remarks as ambassador to the U.S. business community on Friday at an event at the U.S Chamber of Commerce, co-hosted by the U.S. Chamber of Commerce, the Council of Saudi Chambers of Commerce, the Saudi Committee for International […]
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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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MUST-READS
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Even in defeat, Roberto Mancini should still get a chance to lead Saudi Arabia into the future
But putting aside Mancini's reputation and past achievement, he is a man who certainly looks like he has a plan with Saudi Arabia. Lest it is forgotten, given the headlines have surrounded South Korea's incredible escape, the Green Falcons were literally a minute away from advancing to the quarterfinals -- until Cho Gue-Sung's dramatic 99th-minute equaliser forced extra-time, and then the shootout which South Korea prevailed in.
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Average life expectancy in Saudi Arabia rises to 77.6 years
In application of the principle of ‘prevention is better than treatment’ and early detection, it is pointed out that more than five million people have been subjected to exploratory obesity screening, including over a million cases of early detection. More than one million people underwent exploratory screening for diabetes, including about 11,000 early detection cases, in addition to about 160,000 women undergoing early breast cancer screening, which resulted in 654 early detection cases. This detection contributes to the treatment of cases discovered in their early stages.
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BRICS Gets Boost as Saudi Arabia Joins Group of Emerging Nations
South Africa’s foreign minister said Saudi Arabia and four other countries have accepted the invitation to join the BRICS club of nations that was extended during a summit last year. Minister Naledi Pandor said that Russia, who takes over as chair of the bloc this year from South Africa, has received written interest from 34 countries who want to join. Saudi Arabia, Iran, Egypt, Ethiopia and the United Arab Emirates are now full members, she said. “Argentina has written to indicate that they will not act on this successful application by the previous administration to become full members of BRICS and we accept their decision,” Pandor told a press briefing in the capital, Pretoria, on Wednesday.
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Saudi Arabia’s non-oil sector grew 4.6 percent in 2023
Saudi Arabia’s oil sector witnessed a substantial decline of 9.2 percent in 2023 which supported its non-oil sector performance. That is directly influenced by the Kingdom’s commitment to cut crude output in alignment with OPEC+ decisions. In April 2023, OPEC+ agreed to reduce oil output by 1.2 million barrels per day. Moreover, Saudi Arabia extended its commitment to oil cuts until December 2024. The Kingdom also implemented an additional output cut of 1 million barrels per day from June to December 2023.
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World Defense Show 2024: Kalashnikov to unveil new UAV in Riyadh
The new SKAT 350 M reconnaissance UAS will be unveiled at the World Defense Show in Saudi Arabia next week. The UAV has been based on the design on the Supercam 350 UAS but features improved aerodynamic properties and ground control system. The platforms have been designed and manufactured by Russia’s Kalashnikov Concern JSC. The SKAT 350 M has been designed for aerial surveillance and detection in optical and infrared ranges with improved payload options.
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IMF Says Saudi Slump Matched Argentina Among Worst G-20 Laggards
Saudi Arabia’s economy had one of its steepest contractions of the past two decades after reducing oil output to support crude prices, according to the International Monetary Fund, a slump matched only by crisis-stricken Argentina among the Group of 20 nations. Gross domestic product slipped 1.1% last year, the IMF said in the World Economic Outlook on Tuesday, flipping its previous forecast for a small expansion. While expecting the kingdom to return to growth this year and next, its projection for Saudi Arabia saw the biggest downgrade for 2024 after Argentina in the G-20.
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IMF Raises Saudi Economic Growth Forecast for 2025
The IMF, on Tuesday, adjusted its growth forecast for Saudi Arabia in 2024, reducing it by 1.3 percentage points to 2.7%. In contrast, the forecast for 2025 was raised to 5.5%, showing an improvement from previous estimates made in October.
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Princess Reema defends Saudi Arabia’s right to host women’s tennis tournament
Saudi Arabia's Ambassador to the United States Princess Reema bint Bandar has addressed criticisms leveled against her country's hosting of the Women's Tennis Association Finals. The ambassador's remarks came as a direct response to an opinion piece in The Washington Post, which she described as laden with "outdated stereotypes and western-centric views."
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Senate’s Permanent Subcommittee says it will continue to pursue inquiry into Saudi PIF
In July, the Senate’s Permanent Subcommittee on Investigations held two hearings on the potential deal that would combine the Tour, DP World Tour and LIV Golf, which is owned by the PIF, under a new, for-profit entity called PGA Tour Enterprises. On Monday, senators sent a letter to PIF’s governor informing him “the Subcommittee intends to continue to pursue its inquiry [into the potential deal].” The PIF filed a lawsuit in Saudi Arabia, pushing back on subpoenas that were sent by the subcommittee to multiple firms working with the fund, including Boston Consulting Group, McKinsey & Company, M. Klein and Company and Teneo.
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Saudis Resume US Defense Talks After Pause From Israel-Hamas War
Discussions took place in the town of Alula in northwestern Saudi Arabia between de-facto ruler Crown Prince Mohammed Bin Salman and US senators earlier this month, said the people, asking not to be identified due to the sensitivity of the matter. On the agenda was a revival of earlier negotiations about a defense pact that would also have included an historic tie-up between Saudi Arabia and Israel, they said.
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