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  • Alicia Keys criticised for Women’s Day event in ‘misogynist’ Saudi Arabia

    “I am thrilled to be back on stage, this time in Jeddah, performing in a place I have never performed in before, and in a way I never have in this region,” Keys said. “I’m also so inspired to connect in a meaningful way with the amazing women there to discuss cultural, creative and boundary-pushing narratives we are collectively and individually leading. In light of International Women’s Day, it’s the perfect time to discuss important issues affecting us.”

  • Transitioning to Countercyclical Fiscal Policy in the Gulf

    Economists widely advise against procyclical fiscal policies. Nonetheless, evidence suggests many countries, especially emerging economies, commonly undertake such policies. For example, during an economic expansion, governments tend to increase spending and reduce taxes instead of saving the extra revenue. The most plausible explanation for this is related to political economy. Pressure from interest groups to spend more following a recession may be too high to resist, spurring increased public spending, even if it leads to economic overheating and inflation.

  • Saudi cement sales drop 3.6% to 4.2M tons in February

    The aggregate sales of 17 Saudi cement producers decreased by 3.6% to 4.2 million tons in February from 4.4 million tons a year earlier, according to recent data issued by Yamama Cement Co.

  • Debate: Will Emirati, Saudi accession to BRICS shift their alliances?

    The BRICS group of countries could soon include both Saudi Arabia and the United Arab Emirates (UAE). This trajectory partly stems from Gulf Arab aspirations to balance alliances with the west. It also appears driven by a desire for greater influence on the global stage, and bolstered commercial ties with BRICS members—primarily China.

  • Saudi Arabia leads global innovation with tech investments: Honeywell CEO

    Saudi Arabia’s proactive leadership and investments in advanced tech solutions have positioned it as a global innovation leader, according to a top official. During the LEAP 2024, Anant Maheshwari, president and CEO of Honeywell’s Global High Growth Regions portfolio, told Arab News that Saudi Arabia was a “crucial market” for the company, being one of only “three countries globally that is led as an independent market.”

  • Saudi Arabia waives customs duties on certain goods to boost industrial sector

    Customs duties on certain manufacturing products will be waived from April 1 as the Saudi government seeks to stimulate the industrial sector. The decision, made by the Ministry of Industry and Mineral Resources, will help businesses with valid import licenses reduce their financial burden and costs associated with importing specific products and improve their competitiveness and profitability. It will also allow them to invest more in their operations, expand their production capacities, and ultimately contribute to the growth and development of the industrial sector in Saudi Arabia, according to the Saudi Press Agency.

  • Saudi Arabia Moves $164 Billion Aramco Stake to Wealth Fund

    The 8% stake transfer will cut the government’s direct ownership in the world’s largest oil company to 82%, the Saudi Press Agency said. The move will have no impact on Aramco’s dividend, which the oil giant kept at $29 billion for the third quarter despite a drop in production and weaker oil prices.

  • Al-Durra Field: Another Front for Regional Tensions with Iran

    The Al-Durra gas field, or Arash field as Tehran prefers to call it, is located in the Arabian Gulf and has been a source of ongoing geopolitical tensions between Iran, the Kingdom of Saudi Arabia (KSA), and Kuwait. Despite that the dispute over the field dates back to the 1960s, these tensions have been intensifying over the past few months due to various political and economic factors. The field is believed to hold proven reserves of up to 20 trillion cubic feet of gas and up to 300 million barrels of oil, placing it among the world’s top energy fields.

  • Saudi Arabia’s crown prince transfers another 8% of Aramco shares to sovereign wealth fund

    Saudi Arabia's crown prince transferred another 8% of shares in the kingdom's oil giant Saudi Aramco to the country's prominent sovereign wealth fund on Thursday. The shares are worth some $160 billion. Crown Prince Mohammed bin Salman's decision comes as the kingdom is trying to build a series of megaprojects and invest in sports and other fields aggressively abroad to wean the country off of relying solely on oil.

  • New Delhi’s Balancing Act In A Chaotic Middle East

    India’s outreach to West Asian countries began shortly after Independence in 1947. India’s anti-colonial socialist leaders frowned upon Israel (a country built on religious nationalism just like Pakistan), fully supported the Palestinian cause, and, cognisant of India’s large Muslim population, tried to make common cause with Islamic nations. However, other than Israel, which was keen to court India but with whom India did not agree to establish diplomatic relations until 1992, few of the West Asian countries particularly responded to India’s overtures and indeed regularly gave Pakistan both political and military support. Today the tide has turned. Arab nations and Israel are both enthusiastic about building ties with India and Modi’s BJP government has responded in kind.