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Reuters Photo Shows Iran’s Embassy in Riyadh Opening its Gates for First Time in 7 years
Iran’s embassy in Saudi Arabia opened its gates on Wednesday for the first time in seven years, a Reuters photo confirmed, as the two sides continued apace with the restoration of ties between them.
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With Saudi Delegation to Yemen’s Capital, Stakeholders Hope for Lasting Truce
Saudi Arabia’s ambassador to Yemen said on Monday he had traveled to the country’s Houthi-held capital to strengthen a truce and push dialogue that could end the country’s eight-year-old war, according to reports.
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Honeywell to open state-of-the-art regional manufacturing center in Saudi Arabia’s King Salman Energy Park
Honeywell signed a deal to open an advanced regional manufacturing center at the King Salman Energy Park (SPARK) — Saudi Arabia’s new energy industrial zone, according to a press release.
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Understanding the Saudi-Iran agreement with a trio of special guests: Saudi Embassy Spokesperson Fahad Nazer, CSIS’ Dr. Jon Alterman, and Saudi Foreign Policy Expert Dr. Aziz Alghashian
Saudi Arabia and Iran recently agreed to normalize ties between the two regional powers after seven years. The 966 speaks with three top voices to understand the deal and the potential road ahead for Saudi Arabia, Iran, China, the United States, and other regional and global players.
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Iran’s Government Proposes Three Locations for Meeting of Foreign Ministers; Riyadh Reportedly Invites President to Visit
The Iranian government has proposed to Saudi Arabia three locations for a meeting of foreign ministers, according to Iran’s foreign minister, as the two countries move forward with re-establishing ties.
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Saudi Arabia Records 31 Percent Rise in Government Revenues in 2022 – MOF
Saudi Arabia recorded a 31 percent rise in government revenues to reach SR1.26 trillion ($335.6 billion) in 2022, the Ministry of Finance said on Thursday.
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Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan Makes Surprise Visit to Ukraine, Signs Deals
Saudi Arabia’s foreign minister Prince Faisal bin Farhan Al-Saud made a surprise visit to Ukraine’s capital, Kiev, and met with Ukraine’s President Volodymyr Zelenskiy, his chief of staff Andriy Yermak, his Ukrainian counterpart Dmytro Kuleba, and others.
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Lydia Ko Wins 2023 Aramco Saudi Ladies International with One Shot Victory at Royal Greens
Lydia Ko fired a final round of 68 (-4) to win the 2023 Aramco Saudi Ladies International presented by Public Investment Fund by one stroke.
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FDI Inflows into Saudi Arabia Soar in 3Q 2022; MISA Says Investment Licenses Granted Up Over 50%
Saudi Arabia saw more positive economic news this week, as Foreign direct investment (FDI) inflows into the Kingdom rose 10.7% in the third quarter of 2022 over the same period a year earlier. Figures from the investment ministry showed FDI inflows totaled 7.2 billion riyals ($1.9 billion) in the third quarter of 2022, up from 6.5 billion riyals […]
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Saudi Arabia’s PIF Remains 6th Largest SWF Globally, Latest Data Show
Saudi Arabia’s Public Investment Fund (PIF) now has assets worth $607.42 billion and is the 6th largest sovereign wealth fund in the world, according to latest data from the Sovereign Wealth Fund Institute.
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MUST-READS
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Dubai’s high-end property sales rise on overseas demand
Sales of homes in Dubai worth $10 million or more rose 6% in the first quarter versus last year, an industry report showed on Tuesday, as demand from the international ultra-rich for homes in the emirate showed little sign of abating.A total of 105 homes worth an overall $1.73 billion were sold from January to March, up from around $1.6 billion a year earlier, according to property consultancy Knight Frank.
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Biden unlikely to cut Iran’s oil lifeline after Israel attack
Iran's unprecedented missile and drone strike on Israel is unlikely to prompt dramatic sanctions action on Iran's oil exports from the Biden administration due to worries about boosting oil prices and angering top buyer China, said analysts.Shortly after Tehran launched its weekend attack - retaliation for Israel's suspected April 1 strike on the Iranian consulate in Damascus - House Republican leaders accused President Joe Biden of failing to enforce existing measures and said they would take up this week a series of bills to sharpen sanctions on Iran.
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Israeli forces vow response to Iran’s attack despite calls for restraint
Israelis awaited word on how Prime Minister Benjamin Netanyahu would respond to Iran's first-ever direct attack as international pressure for restraint grew amid fears of an escalation of conflict in the Middle East.Netanyahu on Monday summoned his war cabinet for the second time in less than 24 hours to weigh a response to Iran's massive weekend missile and drone attack, a government source said.
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Precision fire: A strategic assessment of Iran’s conventional missile program
“Precision Fire: A Strategic Assessment of Iran’s Conventional Missile Program,” authored by Bilal Y. Saab, senior fellow and director of the Middle East Peace and Security Initiative at the Brent Scowcroft Center on International Security, and Michael Elleman, consulting senior fellow for missile defense at the International Institute for Strategic Studies, analyzes the political and military challenges posed by Tehran’s potentially more accurate missiles and assesses how Washington and its regional partners could counter Tehran’s likely aims
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Iran’s “Limited Response” Pleases Hardliners and Used Channels with the US
Iran’s operation against Israel was not unprovoked. On April 1, Israel attacked the consular section of the Iranian embassy in Damascus with F-35s, killing seven officers of the Islamic Revolutionary Guard Corps (IRGC) as well as six Syrians and a major Hezbollah official. Brigadier General Mohammad Ali Zahedi, former IRGC Ground Forces Commander and head of the Lebanon-Syria Unit of the external branch of the IRGC, the Quds Force, was the top official killed in the Israeli airstrike.
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Erdogan Politically Wounded But Still Turkey’s Dominant Power
Results of the March 31 nationwide local elections in Turkey represent the first true defeat for President Recep Tayyip Erdogan’s Justice and Development Party (AKP) since its 2001 founding. Although the previous local elections, in 2019, were widely interpreted as a defeat for Erdogan, as the secular Republican People’s Party (CHP) opposition won five of Turkey’s six largest cities – including the two major prizes, Istanbul and national capital Ankara – AKP actually won the elections by most measures: provincial capital mayoralties, provincial assemblies, and village councils as well as overall mayoral vote totals. AKP even won majorities in the Istanbul and Ankara municipal councils in 2019, complicating life for the CHP mayors of those cities.
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Saudi defense minister receives phone call from US counterpart
Saudi Minister of Defense Prince Khalid bin Salman received on Sunday a phone call from U.S. Secretary of Defense Lloyd Austin. During the call, they reviewed the strategic partnership between the two countries in the military and defense fields and ways to strengthen them. The ministers also discussed the recent military escalation in the region, the danger of its repercussions, and the efforts being exerted to contain these developments in a way safeguarding international peace and security, the Saudi Press Agency reported.
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Why Another Drawdown Of America’s Oil Reserve Could Happen
The motivation there for the OPEC+ ministers would be to avoid the inevitable demand destruction that $100/barrel oil prices have caused in the past. It is a motivation that makes sense for countries whose long-term economic health remains highly dependent on strong demand for crude oil. The question, though, becomes how quickly OPEC+ is willing to act to readjust its production targets, given that the group acted just last week to reaffirm commitments to lower quotas it has had in place since last summer. With the Brent price already over $91/bbl and the US summer driving season rapidly approaching, the prospect of a near-term rise to the $100 mark is not really all that remote.
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Saudi Arabia arrests over 20,000 violators of residency, labour and border security laws in a week
The Saudi Ministry of Interior said that 20,667 individuals were arrested for residency, labour, and border security violations in a nationwide sweep from April 4 to 10.Of them, 14,805 have been arrested for residency violations, 3,860 for border breaches and 2,002 for labour violations.
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Saudi Arabia’s EV imports rise to 779 in 2023: Report
Saudi imports of electric vehicles (EVs) increased by 271% to reach 779 cars in 2023, amounting to SAR 397.3 million, Al-Eqtisadiah newspaper reported, citing the General Authority for Statistics.
Meanwhile, the Kingdom imported 210 EVs in 2022, valued at SAR 52.3 million, the newspaper added.
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