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  • A Saudi business is leaving Arizona valley after it was targeted by the state over groundwater use

    Arizona officials said a Saudi-owned company they targeted over its use of groundwater to grow forage crops is moving its farming operation out of a valley in the Southwestern state’s rural west. Gov. Katie Hobbs and the Arizona State Land Department announced late Thursday that Fondomonte Arizona is officially no longer pumping water in the Butler Valley groundwater basin. Some residents of La Paz County had complained that the company’s pumping was threatening their wells.

  • Saudi Wealth Fund Eyes $20 Billion Windfall from Aramco Dividend

    Saudi Arabia’s sovereign wealth fund is set to earn about $5 billion in dividend payments every quarter from its stake in Aramco after the government handed it more shares in the state-controlled oil company, which then said it would boost shareholder payouts. The hike in Aramco’s dividend, which is set to total at least $124 billion this year, comes days after Crown Prince Mohammed bin Salman ordered the transfer of an 8% stake in Aramco to the Public Investment Fund.

  • At Jerusalem’s al-Aqsa Mosque, Ramadan brings uncertainty and fear

    Jews revere the site they call the Temple Mount as the location of the first and second temples and worship at the Western Wall, a remnant of the ancient complex. Muslims know it as the Noble Sanctuary, where the prophet Muhammad is said to have ascended to heaven.

    It’s the holiest site in Judaism and third holiest in Islam. The competing claims are one of the most challenging elements of the decades-long Israeli-Palestinian conflict.

  • Elderly Saudi family members recall beloved tradition of sighting crescent moon

    “Every year, before sunset, we would sit at a high spot in the village with serene views of clear skies, waiting for the sighting of the crescent moon. We watched the gradual descent of the sun before sunset. These changing colors had magnificent effects that we admired and later described to our mothers at home.”

  • US threatens action against Iran at IAEA over continued ‘stonewalling’

    The United States on Thursday threatened future action against Iran at the U.N. nuclear watchdog if Tehran keeps "stonewalling" the watchdog by denying it the cooperation and answers it seeks on issues including long-unexplained uranium traces.
    At a quarterly meeting of the International Atomic Energy Agency's 35-nation Board of Governors, Washington again told Iran to cooperate with IAEA inspectors who for years have been seeking explanations from Tehran on the origin of uranium particles at undeclared sites.

  • Aramco seeks more investment opportunities in China, sees healthy oil market in 2024: CEO

    On an earnings call, Nasser added that the global oil market is expected to remain healthy for the rest of the year and increase by roughly 1.5 million barrels, according to Reuters.   The CEO also predicted that global oil demand will reach 104 million barrels per day in 2024, up from an average of 102.4 million barrels in 2023.   Aramco, he added, is targeting a 60% boost in gas production by 2023, compared to 2021 levels.

  • Saudi Arabia starts to localize 35% of dental profession

    Saudi Arabia’s Ministry of Human Resources and Social Development (HRSD) started to localize 35% of the dental profession in the private sector as of today, March 10.   The decision, issued by HRSD Ministry in partnership with the Ministry of Health, will be implemented in the private-sector institutions with three or more workers.   The Health Ministry will oversee and implement the decision, in line with the job market and the requirements of the dental profession.

  • Saudi GDP falls 0.8% in 2023

    Saudi Arabia’s real gross domestic product (GDP) fell by 0.8% year-on-year (YoY) in 2023, data issued by the General Authority for Statistics (GASTAT) showed.   Oil activities declined by 9% YoY, while non-oil activities grew by 4.4% annually. In addition, government services increased by 2.1% YoY.   GASTAT adopted the chain-linked methodology in the national accounts to calculate the real GDP. It issued the publications of Q4 2023 and 2023, adopting the new methodology instead of the previous one, which was based on utilizing the fixed base year.

  • Saudi Aramco boosts dividends despite profit fall

    Saudi Aramco has reported a steep decline in profits, after the energy giant cut production and oil prices fell sharply in 2023.

    Its profits fell 25% to $121bn (£91bn) profits after a record-smashing year in 2022.

    But the figure is still the second-highest profit ever for the state-backed company.

    The firm said it was boosting its payments to shareholders and looking for opportunities to invest in China.

  • Veteran Saudi diplomat warns of consequences of Israel’s Gaza war, regional spillover risk

    “We hope that a ceasefire will take place in Gaza. Ramadan is coming. And the brutality that we have seen will not make anyone happy, any human being happy, especially in the Muslim world.” Asked about the risks of a regional spillover, he said the war was already contributing to tensions in the north of Israel and in the south of Lebanon. “There’s tit-for-tat ongoing between Hezbollah and Israel.”

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