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In Saudi Arabia, Pompeo Seeks ‘Global Coalition’ On Iran; Dines at Nobu Popup with Crown Prince
- June 25,2019
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- SUSTG Team
Secretary of State Mike Pompeo visited Saudi Arabia on Monday in the first stop of a trip to the Gulf region to build a “global coalition” on Iran and express support for the security of Saudi Arabia. Pompeo held two separate meetings with King Salman and Crown Prince Mohammed bin Salman, photos show. Pompeo called the United States and […]
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U.S. Special Representative for Iran, Saudi Arabian Deputy Defense Minister Prince Khalid bin Salman Meet in Jeddah
- June 21,2019
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- SUSTG Team
U.S. Special Representative for Iran Brian Hook met with Saudi Arabian Deputy Defence Minister Prince Khalid bin Salman in Jeddah on Friday, the minister said in a tweet. Hook and Prince Khalid discussed recent attacks in the region. “Pleased to meet with United States Special Representative for Iran Mr. Brian Hook to explore the latest efforts to […]
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Saudi Desalination Plant Struck by Missile from Yemen, U.S. Drone Shot Down – Reports
- June 20,2019
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- SUSTG Team
A Saudi desalination plant was struck by a missile that appeared to come from within Yemen, according to reports. Hours after the statements from U.S. officials, Saudi Arabia confirmed the missile strike, saying it caused no damage or casualties, the Wall Street Journal reports. Shortly after the strike was made apparent, senior U.S. officials met at […]
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Declines in Saudi unemployment continue as more women join workforce, report says
- June 19,2019
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- SUSTG Team
A recently-released Jadwa Investment report on the Saudi labor market highlights gains made in edging down the Saudi unemployment rate, especially for women and youth in the Kingdom. According to Jadwa, The latest General Authority for Statistics (GaStat) labor market release for Q1 2019 shows that unemployment declined to 12.5 percent, reaching its lowest rate since […]
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More Weaponized Drones Launched at Saudi city of Khamis Mushayt from Yemen, Two Shot Down
- June 11,2019
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- SUSTG Team
Saudi Arabia’s air defense forces shot down two “weaponized drones” launched by Houthis from Yemen toward the city of Khamis Mushait, a spokesman for the Arab Coalition supporting Yemen’s legitimate government said early Tuesday. In a statement carried by the Saudi Press Agency (SPA) and carried by Arab News, Colonel Turki Al-Maliki said the attack […]
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Economy Update: Prices cool down after a year of reforms
- May 27,2019
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- SUSTG Team
The latest official government figures on inflation for Saudi Arabia show a decline in prices after a year of reforms, according a recently released report by Jadwa Investment. Over the last year, Saudi Arabia has introduced a number of reform measures, including the introduction of a VAT, utility price reform, and other changes. The latest General […]
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Bloomberg Economics: Rising Private Sector Spending, Fiscal Stimulus Boost Non-Oil Economy
- May 10,2019
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- SUSTG Team
Rising private sector consumption and government fiscal stimulus measures are expected to give a boost to the non-oil Saudi economy, Bloomberg Economics reports. “BE expects non-oil growth to average 2.6% this year, up from 2.1% in 2018, helped by fiscal stimulus, a lower drag from monetary policy and improved private consumption,” the outlet revealed in […]
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IMF’s Regional Economic Outlook Says Saudi Needs $85 Oil for Fiscal Balance
- April 30,2019
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- SUSTG Team
A recently-released IMF report on the oil-producing Middle East and North African economies said that Saudi Arabia’s newest breakeven price for oil – the price of oil at which its government could fund its operations without a deficit – is $85 on the Brent index. The report is a quarterly update on the economies of oil-producing […]
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End of U.S. Waivers on Iranian Oil Looms Large on Future OPEC Output Quotas, Jadwa Says
- April 25,2019
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- SUSTG Team
A recently released report by Jadwa Investment examines the potential impact of the decision by the Trump administration to not extend all waivers on Iranian oil beyond May 2nd. The ending of waivers would require the cessation of all oil purchases from Iran, which averaged at least 1.5 million barrels per day (mbpd) in Q1 2019. […]
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Al-Falih Signals ‘Wait and See’ Approach to Trump’s Harsher Iran Oil Sanctions
- April 23,2019
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- SUSTG Team
The recent decision by President Trump to end all Iran sanction waivers by May was welcomed in Saudi Arabia, but the Kingdom indicated it would respond cautiously with decisions on oil production. “President Donald J. Trump has decided not to reissue Significant Reduction Exceptions (SREs) when they expire in early May,” a White House readout […]
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CENTCOM head says talks between Afghan government and Taliban are ‘critical’ as US drawdown reaches halfway mark
About five weeks into U.S. withdrawal efforts, the “time is now becoming very short” for talks between the Taliban and the Afghan government to ensue before American forces leave after nearly two decades in the country, Marine Gen. Ken McKenzie, the commander of U.S. Central Command, told reporters Monday during a teleconference.
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Afghanistan, Iraq Drawdowns Cut $3.2B From US Army Costs, Officials Say
The U.S. Army would get $173.0 billion under the Pentagon’s fiscal 2022 budget request, down from the $176.6 billion it received in the current fiscal year, according to its budget documents. If inflation stays at 4 percent, that would mean a real decrease of about 6 percent — a steeper real decline than in the overall defense budget request, which at $715 billion would decline about 3 percent in real terms from the current year.
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Saudi minister defends order to turn down the volume on mosques
Saudi Arabia's Islamic Affairs minister on Monday defended an order to lower the volume on mosque loudspeakers, saying families had been complaining that competing speakers were keeping their children awake.
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Saudi Arabia’s mosques asked to turn down volume on loudspeakers
“In Islam, we have to make sure we are a source of peace and comfort for all, Ms Redham, an American resident of Jeddah, told The National. "Sound is a part of it too. "If the prayers, which can go up to 10 to 15 minutes, are loudly played on speakers, it can cause discomfort to those living next to the mosques, including Muslims and non-Muslims.”
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Turkey’s Karpowership says it is shutting down power to Lebanon
Turkey’s Karpowership, which provides electricity to Lebanon from two barges, said on Friday it was shutting down supplies over payment arrears and a legal threat to its vessels as the nation grapples with a deep economic crisis. The company, which supplies 370 megawatts (MW), or about a quarter of Lebanon’s current supply, told the government this week it would have to shut down unless there were moves toward settling the issues.
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Saudi releases Bin Laden patriarch held in ‘Ritz crackdown’: sources
Saudi Arabia has released construction magnate Bakr bin Laden, more than three years after his detention in a purge of the kingdom's elite that upended his vast business empire, sources told AFP. The former chairman of the Bin Laden Group, Saudi Arabia's biggest construction company, was reunited last week with his family in the Red Sea city of Jeddah after being freed from an undisclosed detention site, two people close to his family said.
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US orders big drawdown at Kabul embassy as troops leave
Shortly before he spoke, the State Department said it had instructed all personnel to depart unless their jobs require them to be physically located in Afghanistan. The order was not specific as to the number of people affected, but it went well beyond the usual curtailment of staffers for security and safety reasons. Such orders normally apply only to non-essential personnel.
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Analysis: Biden’s Mideast drawdown poses perils
The Biden administration is making a critical mistake by moving vital military assets away from the Middle East. Drawing down America’s posture in the Middle East sends the wrong message as the administration simultaneously pursues nuclear negotiations with Iran, the region’s most dangerous aggressor. To prevent Iran and its proxies from taking advantage of the resulting vulnerabilities, Washington must work closely with its partners to expand defensive and offensive capabilities throughout the region.
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JPMorgan downgrades emerging market currencies to ‘underweight’
Investment bank JPMorgan recommended selling emerging market currencies on Tuesday, completing a 180-degree pivot from the start of the year when it was backing them to have a good run.
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Iranian prosecutor announces indictments in downing of Ukrainian jet
The announcement of the indictments comes after the country faced harsh criticism for its final report on the incident last month and before Iran is expected to begin indirect discussions with the U.S. to reenter a nuclear pact.
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