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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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Bomb Rips Through Shia Mosque in Najran City, Saudi Arabia, Killing One; Daesh Claims Responsibility, Suspect Named
A bomb ripped through a Shia mosque in Najran City in Saudi Arabia yesterday, killing one and injuring at least 16 people in the latest in a spate of murderous attacks across Saudi Arabia in the last year. Daesh has claimed responsibility for the suicide bombing at the al-Mashhad mosque. Saudi Authorities have named a suspect. […]
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Report: U.S. State Department Approves Sale of $11.5b Littoral Combat Ships to Saudi Arabia, Latest in ‘Biggest Year Yet’ for U.S. Arms Sales
The State Department has approved the sale of as many as four Littoral Combat Ships for $11.25 billion under the Foreign Military Sales program according to an official cited by Bloomberg. The approval allows the Saudis to negotiate contracts for the ships unless Congress passes legislation to block the deal, the report said. The news […]
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Perspective: “Lessons from America’s Continuing Misadventures in the Middle East” – Chas Freeman’s Speech to AUSPC in Washington
In the opening keynote at this year’s 24th Arab-US Policymaker’s conference, Ambassador Chas W. Freeman, Jr. discussed the lessons from America’s “continuing misadventures in the Middle East.” The event, hosted by the National Council on U.S.-Arab Relations in Washington, D.C., enters its second day today at the Ronald Reagan International Trade Center. Ambassador Freeman chairs Projects […]
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Jadwa October 2015 Chartbook: Investment in Foreign Securities Recorded a Monthly Increase, First Time in 2015
Investment in foreign securities recorded a monthly increase for the first time in 2015, an indication that pressure continued to be relieved off foreign reserves as the main deficit financing tool, according to a recently released report by Riyadh-based Jadwa Investment. Additionally, net monthly withdrawals from government accounts continued to be small in August compared to […]
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MUST-READS
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Commentary: Going after UNRWA is a charade the world must reject
Ten days ago, Israel began circulating accusations that 12 employees of the UN Relief and Works Agency (UNRWA) in Gaza had involvement in the Hamas-led attack on southern Israel on October 7. This led to a crisis of indispensable, largely western, funding for this crucial humanitarian services provider for Palestinian refugees, especially in Gaza, where a large majority are refugees from what has become southern Israel. But this latest campaign is just part of a decades-long attack on the agency by Israel, which is itself just a subset of the broader campaign to eliminate the Palestinian refugee issue by eliminating Palestinian refugees as an internationally monitored and protected group.
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Pakistanis’ Discontent Reaches Record High Before Election
Ahead of the election on Thursday, Gallup surveys show that Pakistanis are more discouraged than they have been in decades about a multitude of economic, political and security challenges that are threatening their country’s stability. The country’s failing economy will likely be central to the vote, although it is far from the only issue on the electorate’s minds. In late 2023, Pakistanis were more pessimistic about their economy than they have been at any point in the past 18 years that Gallup has polled them. A record-high 70% said economic conditions where they live are getting worse.
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LIV Golf had a big opportunity Sunday. Did it take advantage?
The PGA Tour’s final round was pushed off due to some truly gnarly weather conditions at Pebble Beach, giving LIV’s first event of the 2024 season the full stage. And it was Jon Rahm’s first event as a LIV golfer, with Rahm in contention for the win at Mayakoba, Mexico. As much money as LIV has spent to get off the ground and fill its 54-man roster, sometimes luck still brings the greatest chances you’ll get.
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Blinken meets MBS in Saudi Arabia as U.S. pushes for post-war deal
During his previous visit to Israel last month, Blinken told Israeli leaders that Saudi Arabia wants to normalize relations with Israel after the Gaza war ends, but it won't agree to any deal if the Israeli government doesn't commit to the principle of a two-state solution.
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Saudi Arabia discussing potential F-15EX buy, Boeing says
“We have a number of products in our portfolio that are of interest,” he said at the event on 5 February. The discussions also involved Boeing Defense, Space & Security (BDS) chief executive Ted Colbert. Vince Logsdon, BDS vice-president, international business development, confirms that the F-15EX is “one of the biggest things that we’re talking about right now”.
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Blinken returns to Mideast in push for hostage deal and postwar plan for Gaza, but obstacles loom
U.S. Secretary of State Antony Blinken met with Saudi Arabia’s crown prince Monday at the start of his fifth visit to the Middle East since the outbreak of the war in Gaza, hoping to press ahead with a potential cease-fire deal and postwar planning while tamping down regional tensions. But on all three fronts he faces major challenges: Hamas and Israel are publicly at odds over key elements of a potential truce. Israel has dismissed the United States’ calls for a path to a Palestinian state, and Iran’s militant allies in the region have shown little sign of being deterred by U.S. strikes.
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Fitch Affirms Saudi Arabia at ‘A+’; Outlook Stable
Saudi Arabia's ratings reflect its strong fiscal and external balance sheets, with government debt/GDP and sovereign net foreign assets (SNFA) considerably stronger than both the 'A' and 'AA' medians, and significant fiscal buffers in the form of deposits and other public sector assets. Oil dependence, low World Bank governance indicators and vulnerability to geopolitical shocks remain relative weaknesses. Nonetheless, governance is improving with social and economic reforms and efforts to bolster effectiveness across government institutions.
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Lockheed Martin strikes subcontractor deals in Saudi Arabia for local THAAD parts production
"There are currently only two production lines for these products: the original production line in the US, and now an additional source of supply here in the Kingdom," Lockheed Martin's vice president and general manager of Integrated Air and Missile Defense, Jason Reynolds told Breaking Defense.
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Saudi defense minister discusses regional developments during call with US counterpart
Saudi Arabia’s Defense Minister Prince Khalid bin Salman discussed recent regional and international developments with his US counterpart during a phone call on Monday. Prince Khalid and Lloyd Austin reviewed Saudi-US relations and ways to bolster defense cooperation between the two countries. The officials also spoke about the need to de-escalate tensions in the region to achieve security and stability, Prince Khalid said
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Saudi more than doubles 2030 foreign tourism target: minister
"We have reached 100 million tourists this year, 77 million from home, 27 million from abroad, over 100 million," Tourism Minister Ahmed Al Khateeb said at a conference organised by Saudi Arabia's sovereign wealth fund, describing the 2023 figures. Authorities now hope to hit 150 million tourists by 2030, up from an earlier goal of 100 million, with 70 million of those coming from abroad, up from an earlier goal of 30 million, he said. Read more: https://www.al-monitor.com/originals/2024/02/saudi-more-doubles-2030-foreign-tourism-target-minister#ixzz8QyFBJdm4
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