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  • Saudi Arabia in talks to refinance, downsize $16 billion loan

    Saudi Arabia is in talks with banks to amend the terms of a $16 billion loan due in 2023 and possibly reduce the size of the facility, sources said, as the world's top oil exporter looks to cut outstanding government debt and improve its balance sheet. The discussions between the ministry of finance and the banks are at an early stage and no decision has been taken yet, said the four sources familiar with the matter.

  • Will the ailing Turkish economy bring Erdogan down?

    Erdogan is facing growing warning signals that his idiosyncratic approach to running Turkey’s $765bn economy is not working. While economic growth looks good on paper, it has not translated into jobs. Inflation reached almost 20 per cent in September, and the currency is losing value. A decade ago it cost around 1.8 lira to buy a single dollar; today that figure is almost 10.

  • Yemen’s Marib city battens down as Houthis advance through energy-rich province

    Expecting a possible siege, pro-government forces in central Yemen are preparing to defend Marib city, their last northern stronghold, against advancing Houthi fighters bent on taking full control of one of Yemen's key energy-producing regions. Should Marib governorate fall to the Houthis it would deal a blow to the military coalition led by Saudi Arabia that has been battling the Iran-aligned group for over six years and to United Nations-led peace efforts.

  • Afghanistan Watchdog Doubles Down on Oversight Efforts

    Upcoming reports will serve as “cautionary and instructive guides” for future operations, said the special inspector general for Afghanistan reconstruction.

  • Iran Doubles Down on China to Hedge Against the West

    For Iran’s new president, the acceptance into the Shanghai Cooperation Organization is an important diplomatic achievement as Raisi tries to bolster his image as a statesman and look toward the East for economic and strategic partnerships.

  • Thailand, Australia, Israel ease travel curbs, lockdowns bite elsewhere

    Thailand, Australia and Israel eased international border restrictions significantly on Monday for the first time in 18 months, offering a broad test of demand for travel worldwide amid the coronavirus pandemic. The relaxation contrasts with tightening lockdowns elsewhere, notably in eastern Europe where infections have hit record numbers, and in parts of China, which has taken a zero-tolerance approach to the pandemic despite relatively few cases.

  • TotalEnergies dives deeper into Saudi downstream

    The stations are located in Riyadh, the Saudi capital, and Saihatin on the east coast. It marks the first step in a plan to upgrade a network of 270 service stations across Saudi Arabia, which will operate under both Aramco and TotalEnergies' branding. The stations were previously owned by Saudi retail fuel firms Tas'helat Marketing and Sahel Transport.

  • Saudi Sept oil supplies to China up 2%, Russian volumes down 18%

    Saudi oil arrivals totalled 7.96 million tonnes, or 1.94 million barrels per day (bpd), data from the General Administration of Customs showed. That was up from 1.89 million bpd in September last year, but just below 1.96 million bpd in August.

  • Opinion: UN is right to shut down the Yemen war crimes panel

    The UNHRC has, in effect, outsourced the challenges in Yemen. A separate resolution would provide an alternative path of providing international support and capacity building to the Yemen government’s own institutions.

  • The view from Saudi Arabia: How the Newcastle United takeover has gone down in the Gulf

    I guess most of us remember when Man City won the Premier League after decades, and I have the same feeling with PIF at NUFC.