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  • Hotels
    Hotel giant Hilton says to quadruple Saudi portfolio in five years

    Hotel giant Hilton has announced that it expects to quadruple its portfolio in Saudi Arabia during the next five years to more than 50 hotels, with a total of 16,000 rooms open across the kingdom. Hilton, which currently operates five of its brands in Saudi Arabia - Waldorf Astoria, Conrad, Hilton Hotels & Resorts, DoubleTree by Hilton and Hilton Garden Inn – said it will continue to introduce new brands to the country.

  • OPEC+
    Oil falls as Russia needs time on more OPEC+ cuts

    Oil prices slipped on Friday as Russia said it would need more time before committing to output cuts along with OPEC and other producers amid falling demand for crude as China battles the coronavirus epidemic.

  • Contract Soldiers
    Foreign Contract Soldiers in the Gulf

    Not surprisingly, the highest proportion of foreign contract soldiers serve in the Gulf’s three richest states, Qatar, the UAE, and Kuwait, where few young men have a strong economic incentive to sign up.

  • China
    Virus reveals China as global oil’s swing consumer

    China had been expected to consume 13.7 million bpd of crude in the first three months of 2020, according to Jefferies estimates. That’s second only to the United States, but without the latter’s huge domestic output. Those forecasts are now in shreds. Chinese consumption may fall by 25% in February – equivalent to more than 3 million bpd - the Financial Times reported on Wednesday. That’s a big problem given that the country accounts for 14% of global oil demand - double what it consumed at the time of the SARS virus in 2003.

  • UAE Gas
    Massive Gas Find Spurs UAE’s Pursuit of Self-Sufficiency

    Over a decade ago, Dubai’s domestic gas production dwindled effectively to zero, leading to total dependence on imports for its large demand and a major overhaul of the emirate’s energy strategy. Yet it has just announced a massive gas find jointly with the neighboring emirate of Abu Dhabi. The discovery could be transformational – if the emirates can overcome the challenges of producing and marketing the gas.

  • Iraq
    US taxpayers have spent over $2 trillion for the Iraq war, report says

    According to their estimates, the cost of the Iraq War to date would be $1,922 billion in current dollars — this figure includes funding appropriated by the Pentagon explicitly for the war, spending on the country by the State Department, the care of Iraq War veterans and interests on debt incurred for the 16 years of the US military's involvement in the country.

  • Iraq
    Abandoned and attacked, some Iraq protesters look to an ayatollah

    Abdul Zahra and many others have high hopes: it was Sistani’s final word that forced outgoing premier Adel Abdul Mahdi to quit amid popular unrest in November. With a single edict in 2014, the country’s top Shi’ite Muslim cleric also mobilized tens of thousands of men to fight Islamic State as part of Shi’ite paramilitary groups.

  • Oil Wealth
    Middle East’s $2 Trillion Wealth Could Be Gone by 2034, IMF Says

    The Arab monarchies of the Persian Gulf face a budget reckoning and risk squandering their $2 trillion in financial wealth within 15 years as oil demand nears peak levels, according to the International Monetary Fund. Global oil demand may start falling sooner than expected, putting a strain on the finances of the six-member Gulf Cooperation Council, which accounts for a fifth of the world’s crude production, the IMF said in a report Thursday. Without decisive economic reforms, the richest Middle Eastern states could exhaust their net financial wealth by 2034 as the region becomes a net debtor, the fund projects. Within another decade, their total non-oil wealth would also be exhausted, the IMF said in the report prepared by a team of its Middle East and Central Asia specialists as well as the research department.

  • Entertainment
    Saudi Arabia Entertainment 2020: The Game Changer

    Since the announcement of Saudi Vision 2030 in 2016, the entertainment sector has risen to the forefront of the economic transformation within the Kingdom of Saudi Arabia. In this report, we will explore key milestones and developments within Saudi Arabia’s entertainment sector as well as the impact on the real estate sector and development opportunities moving forward.

  • Jazan Coffee
    Coffee beans festival turns Saudi Arabia’s Jazan region into a cultural hub

    Although Jazan continues to be known for its most famous Khawlani coffee bean, the increase in visitors, farmers and leisure activities at this year’s festival marked a palpable shift in a region that is increasingly popular for its natural landscape, heritage and economic opportunities.