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Increasing external and domestic demand has led to the high PMI levels, with growth in new export orders hitting a record high and credit growth picking up for the first time in the last five years. Although the recent improvement in global economic conditions has reinforced the Saudi Arabian and the UAE economies, their domestic sectors are playing a major role behind the countries’ stabilities, both consumer and corporate led.
Kerry plans to meet with his counterparts in Jeddah and Amman, following a meeting of the Arab League on Sunday that endorsed action against the group, if not explicitly joining the cause. Both kingdoms have publicly allied themselves with the US in its fight against the terrorist organization, which has swept throughout eastern Syria and northern Iraq since June.
Americans overwhelmingly view Islamic State terrorists as a serious threat to vital U.S. interests and, in a significant shift, widely support airstrikes in Iraq and Syria, according to a new Washington Post-ABC News poll. The nation’s increasingly hawkish mood will form part of the backdrop for a speech by President Obama on Wednesday, when he will outline his thinking on how to confront the threat from the Islamic State. Obama’s remarks will come a day after he confers with congressional leaders at the White House about the administration’s planning.
The embassy’s closure follows growing tensions between the Yemeni government and Houthi protesters in Sana'a who are calling for a new government and the reinstatement of fuel subsidies. In a similar development, the Saudi Higher Education Ministry issued an urgent decree to evacuate 60 Saudi students who are studying at the University of Science and Technology (UST) in Sana'a.
The Obama administration began the work on Monday of trying to determine exactly what roles the members of its fledgling coalition of countries to fight the Islamic State in Iraq and Syria will play, with Defense Secretary Chuck Hagel huddled with the leaders of the one country the administration has called “absolutely indispensable” to the fight: Turkey.
“These headquarters do not merely house the offices of the embassy with all its branches but all the Saudi working offices operating in Egypt and this will make it easier for citizens to contact the embassy of their country and simplify access for their Egyptian brothers and others,” Prince Faisal said.
Saudi Arabia is about to award a contract to construct nearly 663 km of rail lines within the planned train network in the six-nation Gulf Cooperation Council (GCC), the head of the Saudi railways organisation (SRO) said in remarks published on Monday.
Saudi Arabia's Council of Minister on Monday ratified an air transport agreement with the United States, the state news agency SPA reported.
Saudi Arabia has failed to include a single female athlete in its 199-strong team for the upcoming Asian Games in South Korea, saying its women are not sufficiently competitive. The Saudi stance sparked criticism from Human Rights Watch, which condemned its all-male line-up, saying the ultra-conservative state was shutting the door on female athletes, having previously shown signs of wanting to break down barriers.
The Israeli government is planning an immediate 2 percent retroactive cut to its 2014 budget to help cover the estimated US $2.5 billion cost of a summer of war.