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Saudi Arabia’s consulting market climbs 12 percent to $1.6 billion
Saudi Arabia’s consulting industry continues to shine as one of the world’s standout global performers, growing by 12 percent last year to a worth of $1.6 billion. The consulting industry of Saudi Arabia has pushed out to a worth of $1.6 billion on the back of bumper 12 percent growth in 2019 – with the Kingdom now accounting for almost half of the wider $3.6 billion market in the GCC. This is the conclusion of Source Global Research, a market research and consultant to the consulting industry itself, which measures the activity of advisory firms with a headcount of greater than 50 serving mid to large clients.
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Saudi Arabia asks hotels to exempt customers from cancellation fees due to coronavirus regulations
Saudi Ministry of Tourism urged hotels to allow for free cancellations due to coronavirus regulations affecting travel, the ministry announced in a tweet.
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U.S. to send Victoria Coates as special energy envoy to Saudi Arabia, sources say
The Trump administration will appoint Victoria Coates as a special energy representative to Saudi Arabia as Washington struggles to deal with a global oil price crash that drags on the economy and threatens U.S. energy producers, two sources with knowledge of the matter said.
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US Oil Turns Its Back On The Permian As Prices Crash
Amid crashing oil prices, oil firms are rushing to cut budgets and exposure to the most prolific shale basin in the United States, the Permian, yet industry bodies expect the shale patch to survive the oil price war and the oil price collapse despite the short-term pain.
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With Iran Ravaged by Virus, U.S. Pressured to Ease Sanctions
“U.S. sanctions are not preventing aid from getting to Iran,” Brian Hook, the State Department’s point person on Iran issues, said in an interview. “The ayatollah has vast resources at his personal disposal. We have broad exemptions that allow for the sale of medicines and medical devices by U.S. persons or from the United States to Iran.”
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Pompeo arrives in Kabul amid impasse over Taliban prisoner exchange
Secretary of State Mike Pompeo flew into Kabul on Monday amid an impasse between the Afghan government and the Taliban over a proposed prisoner exchange. Pompeo made the unannounced trip to Kabul even as senior U.S. officials have dramatically scaled back most international travel due to the coronavirus pandemic.
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Saudi Arabia CDS climb to record high, Russia, South Africa at multi-year peaks
Saudi Arabia, which started an oil price war over a failure to agree a production cut with Russia, saw its five-year CDS soar to a record high of 233 basis points, up from 198 bps at Friday’s close, IHS Markit data showed. Russia’s CDS added 35 bps to 301 bps, the highest in four years.
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SoftBank plans $41 billion of asset sales to expand buyback and cut debt
SoftBank Group Corp (9984.T) plans to raise as much as $41 billion to buy back shares and reduce debt in an unprecedented move to restore investor confidence as a financial market rout pummels its shares and its portfolio companies.
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U.S. to send envoy to Saudi Arabia; Texas suggests oil output cuts
The Trump administration plans to send a special energy envoy to Saudi Arabia to work with the kingdom on stabilizing the global oil market, officials said on Friday, as the U.S. scrambles to deal with a price crash so deep that regulators in Texas considered curbing production there for the first time in nearly 50 years.
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Saudi Aramco vows stable oil supplies even as borders, transit routes shut
"We have been carrying out continuous preventive plans in all our business areas, in addition to detailed emergency plans and leading medical support services, in order to reduce risks, ensure the best possible care and curb COVID-19 infection," he said.
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