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  • Stock Market
    Saudi leads most of Gulf lower; Aramco rebounds

    Most major Gulf markets fell on Sunday, led by Saudi Arabia as concerns about the effect of the spread of the coronavirus on oil prices weighed on the country's petrochemical and banking shares. Oil prices posted their fifth straight weekly decline, as speculators backed away due to weaker consumption figures and expectations the coronavirus will remain a drag on demand.

  • UAE Economy
    Dubai’s Jobs Vanish at the Fastest Pace in a Decade

    Across the U.A.E. as a whole -- of which Dubai is a part -- business conditions fell into contraction last month for the first time ever. Already under pressure from regional geopolitical tensions, Dubai’s travel and tourism industry actually showed a “modest improvement” in January, IHS Markit said. But now it faces disruptions because of the viral outbreak in China.

  • U.S.-Arab Trade
    U.S. Exports to Arab World Grow 4 Percent in 2019

    The United Arab Emirates ($20.04 billion) and the Kingdom of Saudi Arabia ($14.29 billion) continued to be the two largest destinations by far for U.S. goods in the Arab world.  Together, these two countries accounted for 55 percent of total U.S. goods exported to the MENA region in 2019.

  • Venture Capital
    Saudi VC Fund Hires From Google to Help Build Tech Unicorns

    One of the Middle East’s largest venture capital funds hired Ivan Jakovljevic from Google Inc. to help transform its portfolio of start-ups into so-called unicorns. Jakovljevic will join Saudi Arabia’s STV -- which backed Dubai-based ride-hailing firm Careem Inc. before its sale to Uber Technologies Inc. -- as chief development officer next month, the company said in a statement. He was previously head of new markets for Google in the Middle East and North Africa.

  • Yemen
    UN Medical Relief Flights Continue From Yemen’s Capital

    Flights transporting Yemeni medical patients from rebel-held areas continued Saturday when a second plane carrying 24 patients took off from Sanaa bound for Jordan's capital, the U.N. health agency said. The U.N. flights, which began this week, are seen as a humanitarian breakthrough in the more than five-year-old conflict in the Arab world's poorest country. The conflict began with the 2014 takeover of the capital, Sanaa, by the rebel Houthis, who control much of the country's north.

  • Syria
    Syrian forces capture new areas from insurgents

    Syrian government forces have captured new areas from insurgents in their offensive in the north-west, as Turkey sends more reinforcements into the country, state media and opposition activists said. The weeks-long government offensive has created a humanitarian crisis with about 600,000 people having fled their homes in Syria’s last rebel stronghold since the beginning of December, according to the United Nations.

  • Yemen Civil War
    White House Confirms Killing of Terrorist Leader in Yemen

    The United States killed the leader of Al Qaeda’s affiliate in Yemen, the White House confirmed on Thursday. The confirmation came about a week after The New York Times first reported that the United States believed it had killed Qassim al-Rimi, the Qaeda leader, in January after months of tracing him. The C.I.A. carried out the airstrike using an unmanned drone, an intelligence official said.

  • Syria
    Syrian Government troops seize part of key Idlib town Saraqeb

    Syrian government troops have retaken parts of the strategic town of Saraqeb in the last rebel-held province, Idlib. Syrian army units besieged the town for two days, exchanging artillery fire with Turkish forces who were supporting Syrian rebels.

  • Hotels
    Hotel giant Hilton says to quadruple Saudi portfolio in five years

    Hotel giant Hilton has announced that it expects to quadruple its portfolio in Saudi Arabia during the next five years to more than 50 hotels, with a total of 16,000 rooms open across the kingdom. Hilton, which currently operates five of its brands in Saudi Arabia - Waldorf Astoria, Conrad, Hilton Hotels & Resorts, DoubleTree by Hilton and Hilton Garden Inn – said it will continue to introduce new brands to the country.

  • OPEC+
    Oil falls as Russia needs time on more OPEC+ cuts

    Oil prices slipped on Friday as Russia said it would need more time before committing to output cuts along with OPEC and other producers amid falling demand for crude as China battles the coronavirus epidemic.