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Total IT spending in Saudi Arabia forecast to hit $37bn in 2020
"The Saudi ICT market is grappling with a wave of new digital transformation realities," said Naqshbandi. "The growth we are seeing in ICT spending is primarily being driven by an increased focus on giga projects and smart governance.
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A disaster in Syria as Russia and Turkey clash
For years, Syria’s besieged province of Idlib has served as a final haven for those escaping forces loyal to President Bashar al-Assad. But they are now running out of places to go. Turkey, which already hosts upward of 3.6 million Syrian refugees, has closed its border, even as it threatens to launch a retaliatory campaign against Assad’s regime.
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Lebanon’s Yields Hit 1,000% as Government Calls in Bond Advisers
The Beirut-based Al-Akhbar newspaper reported Wednesday that the Lebanese government will formally ask financial and legal advisers how it should handle its Eurobonds, with a view to potentially restructuring them. Lebanon is reaching out to banks including Citigroup Inc., Rothschild & Co. and JPMorgan Chase & Co., the newspaper said. It didn’t say where it got the information.
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Russia, Saudi Arabia Discuss OPEC+ Cooperation: Video
The conversation between Alexander Novak and Prince Abdulaziz bin Salman comes amid pressure to deepen production cuts to counter the impact from coronavirus which has sent prices plunging.
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Driving Change (Through Tech): Empowering Women To Innovate Without Restrictions
According to UNESCO, women account for more than half of the engineering student population in some Arab states, and between 34% and 57% of recent STEM graduates in the region are women. That’s a much higher rate than in universities globally, and a testament to the change underway in the Middle East region.
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Saudi Arabia and its women ‘superstars’ shine in Adidas’ latest campaign
Saudi Arabia's Al-Ula has been attracting tourists and brands alike with its striking landscapes and iconic history. The latest brand to shoot a campaign on the backdrop of the UNESCO World Heritage site is none other than Adidas. The company shot a special campaign at Al-Ula to celebrate the 50th anniversary of its trademark Original Superstar sneakers.
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Saudi Aramco shares shed post-IPO gains as oil dives
Saudi Aramco shares have lost most of the gains they made since listing in December in a landmark first offering, as oil prices drop amid alarm over the new coronavirus. China's energy demand has sagged as authorities lock down millions of people to prevent the spread of the disease, with major knock-on effects for a global economy dependent on the Asian powerhouse.
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Tripoli government suspends Libya talks after Haftar attacks Tripoli port
Libya’s internationally recognized government on Tuesday suspended talks hosted by the United Nations to halt warfare over the capital after eastern forces shelled Tripoli’s port, killing three people and almost hitting a highly explosive gas tanker.
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Pompeo Warns Iran Must Be Held Accountable for Baghdad Attacks
U.S. Secretary of State Michael Pompeo said Iran must be held accountable for its proxies’ attacks on American forces in Baghdad, warning that such violence can’t become routine. “It cannot become ordinary course that the Iranians, through their proxy forces in Iraq, are putting the lives of Americans at risk,” Pompeo told reporters on his plane as he prepared to fly from Addis Ababa to Riyadh, Saudi Arabia, on Wednesday. “There has to be accountability connected to those very serious attacks.”
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Aramco Trading locks in long-term deal for Kuwaiti oil supply
Aramco Trading Co (ATC) has sealed a new deal to secure long-term crude oil supplies from state-run Kuwait Petroleum Corp (KPC) that can be processed at refineries owned by Saudi Aramco (2222.SE) in Asia, trade sources said. ATC inked its first contract to buy Kuwaiti Export Crude (KEC) from KPC this year, three sources with knowledge of the matter said. The company is the trading arm of Saudi Aramco, the state-owned oil company of Saudi Arabia, which is the world’s largest oil exporter.
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