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Report: $7.9 Billion Bid for KAFD by Saudi Arabia’s Public Investment Fund
Saudi Arabia’s Public Investment Fund (PIF) is reported to be prepared to make an offer for the King Abdullah Financial District (KAFD), situated between downtown Riyadh and the city’s King Khalid International Airport. The offer, reported by Bloomberg citing unnamed sources, is 30 billion riyals ($7.9 billion) — the amount already spent on KAFD by the Saudi Public […]
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Jadwa Investment: Recent Saudi Stock Market Changes ‘Pave the Way’ for Saudi Arabia’s Inclusion Into MSCI Emerging Market Index
The major announcements for Saudi Arabia’s economy and society in the last few weeks related to the release of its ‘Vision 2030’ strategy have given the Kingdom a roadmap and targeted benchmarks for achieving greater economic diversification and empowering Saudi Arabia’s youth. In addition to the ‘Vision 2030’ release and cabinet changes there was “an […]
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Report: Donald Trump Set Up Four Businesses Related to a Jeddah, Saudi Arabia Hotel Project While Campaigning for President in August 2015
Republican frontrunner Donald Trump set up four companies related to a possible hotel project in Jeddah, Saudi Arabia while campaigning for president in August 2015, according to a report by BuzzFeed news, citing the candidate’s latest financial disclosure filings released on Wednesday. According to the report, on August 21, 2015, Trump became president and owner of […]
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Secretary Kerry Meets with Saudi Leaders in Jeddah Ahead of Crucial Syria Talks
Secretary of State John Kerry travelled to Jeddah, Saudi Arabia to meet with Saudi Arabia’s King Salman and other Saudi officials ahead of critical talks on Syria, according to reports. The Secretary, who also met with Crown Prince Mohammed bin Naif and Foreign Minister Adel Al-Jubeir, “discussed a range of regional issues – Yemen, Libya, […]
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Difficult Times for the Saudi Binladin Group
The Saudi Binladin Group (SBG) is facing its toughest challenges in the construction giant’s 85 years of operation as tightened government spending and a 8-month restriction on new projects in the pipeline has undermined the company’s finances. Saudi Binladen has announced a reduction in jobs totaling 77,000, or about one-third of its total workforce. “The […]
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The 5 Major Changes Saudi Arabia’s Capital Markets Authority Made to Increase Foreign Investment in the Saudi Stock Market
Saudi Arabia’s Capital Markets Authority (CMA) has significantly lowered the barriers to entering the Saudi stock market as a foreign investor and increased the amount which a foreigner may own of a Saudi company, the bourse announced in a release today. “These rules were implemented with the aim of raising the bar in relation to investing […]
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Commentary: Saudi Arabia’s Vision 2030, Don’t Miss the Point
While Saudi Arabia’s Vision 2030 was formally endorsed by the Saudi Council of Ministers and published on April 25, 2016, anticipation about the plan had been building for months. McKinsey & Company’s 165-page Moving Saudi Arabia’s Economy Beyond Oil in December 2015 confirmed the depth of the analysis underway within the Saudi government while Deputy […]
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Deputy Crown Prince Mohammed bin Salman Opens Up on Personal History; ‘Vision for the Kingdom of Saudi Arabia’
In his second exclusive and wide-ranging interview with Bloomberg, Saudi Arabia’s deputy crown prince, chair of the Council of Economic and Development Affairs (CEDA), and minister of defense opened up on his rise to power, his initial struggles and ultimate acceptance under the late King Abdullah, and his fondness for Winston Churchill and Sun Tzu’s The […]
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As President Obama Heads to Saudi Arabia, Economic Cooperation and Enhanced Bi-Lateral Security Will be on Agenda
As President Obama heads to Saudi Arabia next week to meet with HRH King Salman and attend a GCC summit, familiar topics as well as new issues will be on the agenda for the President’s 3rd official visit to Saudi Arabia and second meeting with King Salman since September. Along with long-standing regional and security concerns that require U.S.-Saudi […]
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In Egypt, Saudi Arabia’s King Salman Reaffirms Commitment to Bi-Lateral Ties
In what is being hailed as a landmark visit, Saudi Arabia’s King Salman arrived in Egypt to re-affirm Saudi-Egyptian ties and engage a critical regional ally on key foreign policy concerns. King Salman, who was also accompanied by Deputy Crown Prince Mohammed bin Salman and dozens of Saudi officials and leaders, including 14 ministers, was received […]
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IEA Cuts Oil Demand Forecast for 2024 but OPEC Remains Bullish
“At the start of 2024, the risk of global oil supply disruptions from the Middle East conflict remains elevated, particularly for oil flows via the Red Sea and, crucially, the Suez Canal,” the IEA noted in its January 18 report. Strikes by the United States and United Kingdom against the Iran-backed Houthis in Yemen in retaliation for attacks on ships in the Red Sea “have raised concerns that an escalation of the conflict could further disrupt the flow of oil via key trade chokepoints.”
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Martina Navratilova and Chris Evert accused of ‘turning backs on women’ by Saudi ambassador
Al-Saud said the pair should "get your facts straight" on matters of Saudi law affecting women and said their arguments were "based on outdated stereotypes and western-centric views of our culture". She added: "Failing to acknowledge the great progress women have made in Saudi Arabia denigrates our remarkable journey. This not only undermines the progress of women in sports, it sadly undermines women, progress as a whole. "Sports should not be used as a weapon to advance personal bias or agendas or punish a society that is eager to embrace tennis and help celebrate and grow the sport."
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Saudi Arabia hears dozens of countries critique its human rights record at the UN in Geneva
Saudi Arabia had its record on human rights including freedoms for women, prosecutions for freedom of speech, use of the death penalty and alleged killing of migrants at its border with Yemen critiqued at the United Nations on Monday. In the kingdom’s first formal review at the UN Human Rights Council since November 2018, the Saudi Arabia delegation said more than 50 reforms had since then been passed in favor of women. Delegates were told Saudi Arabia has abolished flogging as a punishment, that minors can no longer be executed, judges are independent and migrant workers are now better protected by law.
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Commentary: What Will the United States Do after the Drone Strike in Jordan?
While some sort of U.S. military action this week can be expected, the prospect of the United States brokering another temporary ceasefire in Gaza will remain the main focus of White House efforts. An agreement in Gaza would lower the regional temperature, rebuild cooperation with U.S. allies in the region, and put some wind in the sails of U.S. diplomacy.
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Hamas studies new Gaza ceasefire proposal
Hamas said on Tuesday it would study a new ceasefire proposal in the war with Israel in Gaza, hours after Israeli commandos killed three Palestinian militants in a raid on a hospital in the occupied West Bank. The raid underscored the risk of the Gaza war spreading to other fronts, while Israeli forces fought new battles with Hamas fighters in the Palestinian enclave. Clashes in northern Gaza forced more Palestinian residents to flee to safer areas, and southern parts of the coastal enclave were hit by Israeli air strikes.
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UN urges reversal of funding pause for Palestinian refugee agency
U.N. officials urged countries to reconsider a pause in funding for the U.N. agency for Palestinians on Sunday, pledging that any staff found involved in Hamas' attack on Israel would be punished and warning that aid for some two million people in Gaza was at stake. At least nine countries, including top donors the U.S. and Germany, have paused funding for the UNRWA refugee agency after allegations by Israel that a dozen of its 13,000 staff in Gaza were involved in the Oct. 7 rampage.
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Pakistan court jails ex-PM Imran Khan for 10 years days ahead of polls
A Pakistan court sentenced Imran Khan to 10 years' jail on Tuesday for leaking state secrets, his party said, the harshest sentence the former prime minister and cricketer has ever received and coming just days before national elections. The special court found Khan guilty of making public the contents of a secret cable sent by Pakistan's ambassador in Washington to the government in Islamabad, his Pakistan Tehreek-e-Insaf (PTI) party said. Former foreign minister Shah Mehmood Qureshi was also sentenced to 10 years in the same case.
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After drone attack on U.S. forces in Jordan, Pentagon sees ‘escalation’ but not ‘widening’ of war
“I wouldn't say that the conflict is spreading … But this attack was certainly escalatory,” Singh told reporters, adding that Iran “bears responsibility” for Sunday’s attack because of the decision to arm the groups that carried out the attack. But she stopped short of saying Iran played a direct role in planning, directing, or approving the strike.
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Cutting-edge defense assets set to land in Saudi Arabia for defense show
The occasion will also include air displays of various combat aircraft, including the Calidus B250 light attack aircraft, Eurofighter Typhoon, Dassault Rafale C, and F-15s, taking center stage daily. The Pakistan Air Force will also make an appearance with three JF-17 Thunder multi-role combat aircraft. Furthermore, UAV capabilities will be on full display, featuring the Red Cat Teal2, Firejet M180, and Skydio X10D. The static display area will showcase over 50 fixed-wing and rotary aircraft, offering visitors an up-close look at the Cessna Caravan, Boeing Chinook, Airbus A320, A321, and Cougar helicopter, Sikorsky Seahawk and Blackhawk, Bombardier Global 6500, Embraer KC-390, and the classic Lockheed Martin C-130.
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What it’s like to take a road trip in Saudi Arabia
Think of road trips and you might automatically imagine motoring along US highways, or roaming country to country through the mountains and vales of Europe. But it’s also possible in Saudi Arabia and – although some people might believe this would be a dusty, boring experience – it offers a surprisingly varied driving experience, along blacktop and gravel, through stunning deserts, bustling towns and lush oases.
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