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McKinsey & Company Publishes 165-Page Analysis of ‘Saudi Arabia Beyond Oil’
McKinsey & Company, the top-tier global consulting firm with offices in Riyadh and across the Middle East, published an in-depth report on the Saudi Economy and the opportunities for the Kingdom beyond oil. The report, produced by the McKinsey Global Institute (MGI) and available on McKinsey’s website to the public (executive summary here, full report […]
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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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MUST-READS
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Poll: Public supports strikes in Iraq, Syria; Obama’s ratings hover near his all-time lows – The Washington Post
Americans overwhelmingly view Islamic State terrorists as a serious threat to vital U.S. interests and, in a significant shift, widely support airstrikes in Iraq and Syria, according to a new Washington Post-ABC News poll. The nation’s increasingly hawkish mood will form part of the backdrop for a speech by President Obama on Wednesday, when he will outline his thinking on how to confront the threat from the Islamic State. Obama’s remarks will come a day after he confers with congressional leaders at the White House about the administration’s planning.
- Stratfor - Opinion: The Virtue of Subtlety: A U.S. Strategy Against the Islamic State
- Defense One - Islamic State Dominates the Post-Recess Conversation in Congress
- CBS News - Obama to outline plan to fight ISIS
- Military Times - Obama, Congress in legal gray area over powers to fight Islamic State
- CFR - How the Lessons of Iraq Are Shaping the Fight Against the Islamic State
- ME Briefing - Opinion: ISIL May Represent a Turning Point for the US Role in the Middle East
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West widens contacts with Syria’s Kurds but suspicion remains
In Iraq, Kurds are one of the main Western allies against Islamic State. But in Syria, where Kurdish militia have carved out a swathe of northern territory and repeatedly battled against Islamic State during a three-and-a-half year civil war, Kurds have yet to win the West's acceptance as partners. The main Kurdish political party in Syria, the PYD, and its armed wing, the YPG, say they are obvious allies for Western states as the only force with a proven track record of combating Islamic State there. The Kurds are dismissive of the moderate Syrian opposition that has been backed by the West but outgunned by Islamist groups.
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Syrian forces escalate assault on rebel-held Damascus district
Syrian forces carried out their fiercest assault on the rebel stronghold of Jobar in Damascus since the start of the three-year war, conducting at least 27 air strikes on Tuesday and killing a child, according to activists and rights groups. The government is trying to retake Jobar after the capture of several rebel-held areas around the center of the capital this summer, including the town of Mleiha just outside Damascus on August 14.
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Syria’s foreign jihadis: Where do they come from?
More than 11,000 people have traveled from abroad to fight in Syria, officials suggest, although some have gone back home again. They ally themselves with different factions, and sometimes change loyalties as groups merge, disband or change allegiances. Naturally, countries with bigger Muslim populations tend to send the largest number of fighters.
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Tense relations between U.S. and anti-Assad Syrian rebels
This should be the hour of coordination and brainstorming between the U.S.., its allies in Europe and the Middle East and the leadership of the appointed western-backed fighters. But according to Gen. Abdul-Ilah al Bashir, the FSA’s embittered chief of staff, they just aren’t talking.
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Philippine peacekeepers rescued in Syria’s Golan Heights
Thirty-two Philippine peacekeepers trapped by rebels in the Syrian Golan Heights have been rescued, the UN says. A UN spokesperson said the "situation on the ground is calm but tense", without providing further details.
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Islamic State Militants in Syria Now Have Drone Capabilities – Blog
While the drone may not have been critical in taking the base, it gave militants situational awareness they wouldn’t have had otherwise, Clarke said. “Any small advantage helps. I’d say it’s kind of a force multiplier,” he said. “Any time you can get advanced information by scouting out a position before attacking it is helpful because it helps you plan exactly what kind of resources you are going to need.” For now, it appears that ISIS does not have access to a more advanced armed UAV, though that is not entirely out of the question, Clarke said.
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Syrian Refugees Top 3 Million
A The U.N. refugee agency, UNHCR, stated over 3 million people who have fled the conflict in Syria will have registered as refugees in neighboring countries as of Friday. Another 6.5 million people have become internally displace, so that about half of the Syrian population has been forced to leave their homes since fighting broke out in March 2011.
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U.S. Identifies Citizens Joining Rebels in Syria
American intelligence and law enforcement agencies have identified nearly a dozen Americans who have traveled to Syria to fight for the Islamic State in Iraq and Syria, the militant group that the Obama administration says poses the greatest threat to the United States since Al Qaeda before the Sept. 11, 2001, attacks.
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Iraq and Syria pose Saudi dilemma – failed states or Iran proxies
What the Al Saud dynasty most wants in both countries is a stable government with strong Sunni representation that could act as a bulwark both against what they see as Iranian expansionism and a Sunni militant ideology that threatens their own rule.
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