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  • HRH Reema Bandar Al-Saud Chairs the Women’s Sports Committee Meeting

    HRH Reema Bandar Al-Saud, member of Board of Directors at the Saudi Olympic and Paralympic Committee, chaired the third meeting of the current cycle of the Women’s Sports Committee today in Prince Faisal bin Fahad’s Olympic Complex in Riyadh. The meeting reviewed the committee’s activities for the past year of 2023, and discussed the action plan for 2024. The recommendations from the meeting will be presented to SOPC’s board in its upcoming meeting. The Women’s Sports Committee was reapproved by SOPC’s Board during its last meeting in June, with HRH Princess Reema Bint Bandar ALSAUD as the chair and Adhwa Al-Arifi, Dr.Khalid Alyahya, Abeer Al-Fouti, Fahad Al-Haqbani, Samia Jabarti, Dr Maha Bin Yousef Senior Advisor to HRH the president of Committee, Dr.Lana bin Saeed, and Andrew Hibbert, as members, along with committee secretary Moudy Al-Sudairy.

  • Blinken urges diplomacy to calm Israel Lebanon border as Israel pulls some troops from northern Gaza

    But in a sign of Israeli political leaders’ apparent reluctance to be perceived by the Israeli public as reducing the intensity of military operations in Gaza before Hamas is destroyed, Israeli Prime Minister Benjamin Netanyahu did not hold a joint press conference with Blinken, as they’d done on Blinken’s earlier trips. And the pullout of some Israeli reserve units from northern Gaza has been communicated, somewhat obliquely, by Israeli military officials, mostly to western media, rather than by Israeli political leaders to the Israeli public. (“The war must not be stopped until we achieve all of its goals,” Netanyahu said in his usual maximalist rhetoric at a cabinet meeting Sunday. “We must continue until total victory.”)

  • World Bank raises Saudi economic growth forecasts to 4.1% in 2024

    The World Bank upgraded its expectations for Saudi Arabia’s economic growth to 4.1% this year, from previous forecasts of 2.3% in June 2023. The Kingdom's economy is set to expand, despite extending the voluntary cuts in crude output earlier in 2023, said the World Bank. It added that investment related to non-oil activity will likely be the key driver for future growth, in light of projects of Vision 2030.   In a report released today, Jan. 9, the World Bank also expected a 4.2% growth in the Saudi economy for 2025.

  • German leaders abandon blockade of Eurofighter sale to Saudi Arabia

    The German government is no longer concerned over a proposed sale of 48 Eurofighter Typhoons jets to Saudi Arabia, following the kingdom’s help intercepting Houthi-fired missiles aimed at Israel, according to German media reports. German Chancellor Olaf Scholz on Monday backed up Foreign Minister Annalena Baerbock’s overture from the day prior, the press agency dpa reported, citing a statement to that effect from government spokesman Steffen Hebestreit.

  • From Lebanon to the Red Sea, a Broader Conflict With Iran Looms

    Hamas’s Oct. 7 invasion of Israel and Israel’s tough response have changed all that. Now American and Israeli officials, and a dozen countries working in concert to keep commerce flowing in the Red Sea, are confronting a newly aggressive Iran. After launching scores of attacks, from Lebanon to the Red Sea to Iraq, the proxy groups have come into direct conflict with U.S. forces twice in the past week, and Washington is openly threatening airstrikes if the violence does not abate.

  • Israel, Hezbollah trade fire across Lebanon border amid alarm over Gaza war spillover

    Air raid sirens sounded across northern Israel on Saturday as Lebanon's Iranian-backed Hezbollah group said it fired rockets at Israel, and Israel said it struck a "terrorist cell" in retaliation, as top U.S. and EU diplomats visited the region seeking to keep the war from spreading.

    Fighting raged on inside Gaza, especially in and near the southern city of Khan Younis, where the Israeli military said it had killed three members of the militant Palestinian Hamas group that rules the densely populated coastal strip.

  • Towns Empty and Farms Languish as War Stalks Israeli-Lebanese Border

    The border between Israel and Lebanon has become a landscape of abandoned towns and neglected farms as escalating tensions and tit-for-tat strikes between Israeli forces and Hezbollah militants have displaced more than 150,000 people in both countries.

    Prospects for an end to the cross-border hostilities have grown only dimmer since the assassination on Tuesday of a senior Hamas leader in a suburb of Beirut, the Lebanese capital, fed growing fears of a wider war. The strike has been widely ascribed to Israel.

  • Secretary Blinken’s Travel to Türkiye, Greece, Jordan, Qatar, U.A.E., Saudi Arabia, Israel, the West Bank, and Egypt

    Throughout his trip, the Secretary will underscore the importance of protecting civilian lives in Israel and the West Bank and Gaza; securing the release of all remaining hostages; our shared commitment to facilitating the increased, sustained delivery of life-saving humanitarian assistance to civilians in Gaza and the resumption of essential services; and ensuring that Palestinians are not forcibly displaced from Gaza.

  • SRC, Al-Rajhi Bank sign $1.54bn deal to boost residential real estate

    Saudi Real Estate Refinancing Co. and Al-Rajhi Bank have entered into an agreement to expand the pool of new housing options for the Kingdom’s residents. The deal involves the purchase of a real estate financing portfolio valued at SR5.8 billion ($1.54 billion). The agreement is the fourth deal struck between SRC, which is fully owned by the Public Investment Fund, and Al-Rajhi Bank. It is the largest of its kind in Saudi Arabia’s banking sector, bringing the total value of agreements between the two entities to SR10.8 billion. This collaboration is part of SRC’s commitment to bolstering the residential real estate market in the Kingdom and facilitating financial institutions in offering various solutions to citizens, the Saudi Press Agency reported.

  • Saudi Bank Liquidity Pressure Eases as Government Deposits Surge

    Saudi bank liquidity pressure moderated in 2023 and liquidity conditions should remain reasonable in 2024, Fitch Ratings says. Liquidity has been supported by increased deposit inflows from government-related entities (GREs), which grew by SAR147 billion (23%) in the 12 months to end-October 2023 and represented 70% of total deposit inflows in the period.

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