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With 49 New Arrests, Saudi Arabia Continues Clamp Down on Domestic Extremists
- January 12,2016
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- SUSTG Team
Saudi Arabia has arrested 49 suspected terrorists over the past 10 days, according to Saudi officials and as reported in the Saudi Gazette. The arrests were “a preemptive crackdown in various parts of the Kingdom,” security sources said, adding that the suspected terrorists surrendered without any resistance. They consisted of 36 Saudis, six Syrians, four Yemenis, a […]
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Saudi Stocks Hit 4-Year Low as Global Markets Shudder at China’s Second Halt in Trading This Week
- January 7,2016
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- SUSTG Team
Saudi Arabia’s stock market has continued a tumultuous start to the new year, with the Kingdom’s benchmark index falling another 4.8 percent on Thursday to a four-year low. According to the Financial Times, the drop this year has totaled 10.6 percent, and leaves it 44 per cent weaker than its post financial crisis peak in 2014. The TASI […]
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Fitch: 2016 Saudi Budget ‘Contains Significant Reforms and Follows Notable Expenditure Restraint’
- January 6,2016
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- SUSTG Team
In a recently released statement by Fitch Ratings, the agency said Saudi Arabia’s 2016 budget “contains significant reforms and follows notable expenditure restraint during the second half of 2015, but the fall in oil prices means that the deficit/GDP ratio will again be in double-digits.” The 2016 budget outlines measures to “rationalize expenditure, increase non-oil […]
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Saudi-Turkey Ties Grow with Erdogan Visit, Agree to Form ‘Strategic Cooperation Council’
- December 30,2015
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- SUSTG Team
Turkish President Recep Tayyip Erdogan visited Saudi Arabia this week to meet with top Saudi officials to discuss security and energy cooperation. Erdogan said his government and Saudi Arabia are working “in solidarity and consultation” to find a political solution for Syria, as both countries push for an agreement that would remove Assad from power, […]
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‘Major Economic Shake-Up’ In the Works for Saudi Arabia
- December 21,2015
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- SUSTG Team
Saudi Arabia’s deputy crown prince Mohammed bin Salman, Minister of Defense and chair of the powerful Council of Economic and Development Affairs, is planning a major economic shake-up that involves “plans to reshape the economy to withstand low oil prices,” sources told Reuters privately. The strategy includes state spending reforms and privatizations. Bloomberg reports that Saudi officials […]
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Saudi Arabia Extends Financial Support of Egypt, Despite Fiscal Strains at Home
- December 17,2015
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- SUSTG Team
Saudi Arabia has extended its financial support of the Egyptian government to an added $8 billion in 5 years, along with energy concessions and other assistance, despite facing a budget crunch at home. The announcement followed a meeting between Deputy Crown Prince Muhammad Bin Salman, Second Deputy Premier and Minister of Defense, and Egyptian Prime […]
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With Extreme Stance on Muslims, Trump Angers Arab Businessmen, Jeopardizes Global Business Interests
- December 10,2015
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- SUSTG Team
Arab businessmen and Gulf industry leaders are blasting Donald Trump for his extreme views on Muslims, with some of the region’s most powerful men branding Trump “the biggest enemy of Islam” and others eyeing a rethink of ties with the controversial Republican presidential candidate. Trump’s comments are having a very real impact on his business interests in the […]
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State Sovereign Wealth Funds Pull Out ‘At Least $19bn’ in Assets from Managers in 3Q 2015
- December 7,2015
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- SUSTG Team
Sovereign Wealth Funds are drawing down on their assets held by managers at an alarming rate, with estimates from some providers putting the amount at $19bn in the third quarter of this year alone, according to reports. A Financial Times report (link here to the same story in CNBC) cites the data provider eVestment as saying the drawdown […]
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No Change in Oil Strategy As Producers Continue With Pursuit of Market Share
- December 4,2015
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- SUSTG Team
OPEC appeared likely to maintain its policy of high production levels at its annual meeting in Vienna, according to reports, a decision that will continue downward pressure on crude prices in favor of greater market share. The decision to stick to the strategy was expected, but it is risky for countries that need the revenue, […]
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Jadwa Investment: A ‘Mixed Picture’ for Domestic Economic Activity in October 2015 Data
- December 2,2015
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- SUSTG Team
Riyadh-based Jadwa Investment’s December 2015 Saudi Chartbook finds a ‘mixed picture’ for Saudi domestic economic activity. While data on consumer spending pointed to healthy growth, PMI fell to its lowest point on record. The Data also show the first positive net monthly change to government accounts with SAMA: Real Economy: October data showed a mixed picture for domestic […]
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Saudi-ChinaSaudi Aramco Boosts Oil Investment In China’s Downstream
Saudi Aramco signed on Thursday an agreement with the Zhejiang Free Trade Zone in China to facilitate the acquisition of 9 percent in a local refinery and further expand its downstream presence in the world’s largest oil importer.
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Israel-IranThe Israel-Iran Shadow War Escalates and Breaks Into the Open
Israel has carried out a series of attacks across the Middle East in recent weeks to prevent Iran from equipping its Arab allies with precision-guided missiles, drones and other sophisticated weapons that could challenge Israel’s defenses.
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RetailSaudi shops warily push boundaries on prayer-time shutdown
With burger patties sizzling over a hot grill, a Saudi eatery did the unthinkable as a muezzin's call to prayer sent Muslim worshippers scrambling to lower their shutters: It stayed open. The scene, amid a sweeping reform drive, was a striking contrast to the days when religious police wielded unbridled powers and drove people out of malls and shops to enforce the Islamic world's only mandatory prayer-time shutdown.
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Houthi AttackSaudi-led coalition shoots down six Houthi missiles
The missiles were launched from the Saada province against civilians in Jizan city, in the south-west of the kingdom, coalition spokesman Col Turki Al Malki told the Saudi News Agency.
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Drones5 times in history enemies shot down a U.S. drone
On Aug. 20, the United States linked the downing of an MQ-9 Reaper over Yemen by Houthi forces to Iran. Iran has supplied Houthi fighters with weapons and missiles in the past and the attack on the Reaper, reported by CNN, follows a summer of forces exchanging fires and downing drones.
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YemenUS drone shot down over Yemen
The US believes the missile was provided to Houthi rebels by Iran, said the official, who added that it was not immediately clear if the drone was being operated by the US military or the intelligence community.
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LebanonGoldman Says Lebanon May Cross Distress Threshold With Downgrade
Lebanon’s sovereign ranking will probably be cut deeper into junk by S&P Global Ratings within days, putting its bonds into a category considered vulnerable to nonpayment as the country struggles to claw back enough foreign currency, according to Goldman Sachs Group Inc.
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India-PakistanKashmir lockdown: Activists report on India-administered state
On the eve of India's Independence Day, a team of activists and scholars released a report that paints a bleak picture of Indian-administered Kashmir, challenging official government accounts that life is returning to normal amid an indefinite curfew and communications blackout imposed just before the restive region's special status was stripped by Parliament on Aug. 6.
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TunisiaIslamists Buck Regional Crackdown With Tunisia Presidential Bid
Tunisia’s moderate Islamist party Ennahda will field its first-ever candidate for presidential elections, even as some of the Middle East’s major powers wage a far-reaching crackdown on broadly similar groups. The party has chosen its 71-year-old deputy, Abdelfattah Mourou, as “an expression of the movement’s confidence in democracy, the republic and the Tunisian revolution,” Ennahda leader Rashid Ghannouchi was cited as saying late Tuesday by Mosaique FM, a local broadcaster.
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War in YemenUAE military drawdown raises stakes in south Yemen
The Houthis have stepped up missile and drone attacks on Saudi cities, but this is the first serious attack by the group on Aden since it was captured by the coalition in 2015.
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