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Saudi Arabia and Kuwait Agree to Resume Oil Production from Neutral Zone Fields
Saudi Arabia and Kuwait will resume joint production at two oilfields from a shared neutral zone between the countries, according to Bloomberg, ending a five-year dispute that sidelined production from the area.
Pompeo, Saudi Counterpart Prince Faisal bin Farhan Meet in Washington Wednesday
US Secretary of State Mike Pompeo met with Saudi Arabia’s foreign minister Prince Faisal bin Farhan in Washington Wednesday to discuss Iran, Yemen, and other issues of mutual interest.
Weaker Demand for Oil as Coronavirus Spreads, Pushing Prices Down
Saudi Arabia and other oil producing nations that form the OPEC+ group are seeking common ground on how to keep oil prices from tumbling further in the face of weak demand from the spread of the Coronavirus.
Al-Ula Planners, Developers Keen to Keep Historic Beauty of Site Intact with Millions Expected Annually
Planners and developers working on making Saudi Arabia’s Al-Ula UNESCO heritage site easier and more enjoyable to visit are keen to keep intact the natural beauty and wonder of the site, the UAE-based The National reports, citing an interview with Francesca Arici, the site’s chief planning officer.
Saudi Aramco Sees Increased Number of Cyberattacks since Late 2019
Saudi Aramco has seen an increase in attempted cyber attacks since the final quarter of 2019 and has successfully repelled all of them so far, according to a Reuters report, which cited comments from an interview with chief information security officer Khalid al-Harbi.
In Detailed Report, CBRE Highlights ‘Game Changer’ Saudi Entertainment Industry
American commercial real estate services and investment firm CBRE Group, Inc., the largest commercial real estate services company in the world, recently released a graphic-filled and detailed report on Saudi Arabia’s bourgeoning entertainment industry, which it calls a “game changer.”
Saudi Arabia Continues with Cautious Path on Coronavirus; King Salman, Xi Jinping Speak by Phone
Saudi Arabia continued to take precautionary measures to prevent the arrival and spread of Coronavirus in the Kingdom as King Salman and China’s Xi Jinping spoke by phone today to discuss the outbreak, according to reports.
Jadwa Investment: Saudi Inflation Set to Rise Slightly in 2020; Non-Oil Private Sector to Pick Up
A recently-released report by Jadwa Investment notes that the Kingdom will see a slight increase in inflation in 2020 on expectations of a continued pick-up in non-oil activities and an elevated level of consumer spending.
Saudi Arabia’s 2018 CO2 Emissions Fall Faster Than Expected
Latest data for the year of 2018 show that emissions in Saudi Arabia have fallen significantly for the first time, down 4.4% or 26 million tons, according to researchers at the King Abdullah Petroleum Studies and Research Center (KAPSARC).
Report: Saudi Arabia Pushing for a ‘Major, Short-Term Oil Production Cut’
OPEC and its allies are “considering cutting their oil output by a further 500,000 barrels per day (bpd)” with eyes on mitigating the impact on oil demand from the coronavirus, Reuters and the WSJ report.
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Lebanon weighs defaulting Eurobond next month
Lebanon’s finance minister said Thursday that its new government is weighing whether to pay or default on its $1.2 billion Eurobond maturing next month, amid an economic crisis that has sparked months of unrest. Lebanon is facing a deepening liquidity crunch and a soaring public debt. Lebanese banks raised interests rates in a bid to attract foreign investments — but now the influx of foreign currencies has dried up and the Central Bank’s foreign currency reserves are shrinking.
Plans to Develop AlUla, Saudi Arabia Into the ‘World’s Largest Living Museum’ by 2035 Unveiled
Saudi Arabia aims to host two million visitors a year in AlUla by 2035. The RCU estimates the project will create more than 67,000 new jobs - almost half of them in the tourism sector.
Oil Set for Biggest Weekly Gain in 5 Months as Virus Fear Eases
After several weeks of falling crude prices, Chinese refiners are now snapping up cheap cargoes, taking many traders by surprise. That follows the World Health Organization’s view that the sharp increase in the number of virus cases reported in China’s Hubei province this week doesn’t necessarily reflect a sudden jump in new infections.
Is tourism the antidote to youth unemployment in Oman?
“I am pretty sure the economy will dictate certain unavoidable reforms in the next few years,” John Sfakianakis, the chief economist of the Saudi Arabia-based Gulf Research Center, told Al-Monitor. In an attempt to energize the domestic economy, the country’s road map for social and economic reform identifies five high-priority sectors, including the employment-intensive tourism industry. Ranked as one of the fastest growing industries in the world, the tourism sector could employ a total of 535,000 people, directly and indirectly, in Oman by 2040 to cater to 11 million visitors.
Senate passes resolution to limit Trump’s power to order military action against Iran
Eight Republicans joined all Democrats in voting 55 to 45 for the measure, despite sharp warnings from Trump that challenging his war powers would “show weakness” and send “a very bad signal” to Tehran. Trump will almost certainly veto the measure once it passes the House, and neither chamber of Congress has the votes to override that veto, lawmakers say.
Turkey-Syria clashes escalate as 800,000 displaced people battle bitter temperatures
Despite continued talks between Russia and Turkey no new cease-fire or de-escalation agreement has been reached between the two sides. Instead, President Recep Tayyip Erdogan threatened Wednesday to escalate the conflict beyond Idlib’s borders if another Turkish soldier was hurt.
Perspective: Macron’s Plan to End the Libyan Conflict Only Made Things Worse
Today Libya is a nation in name only. Haftar’s forces have laid siege to Tripoli for 10 months, and France is increasingly marginalized in a region where it was once the dominant player. When Libya is discussed this weekend at the Munich Security Conference, it will be Russia and Turkey who are the diplomatic heavyweights.
Giga projects drive tourism in Saudi Arabia
The PIF has announced that Amaala will sit alongside Neom and the Red Sea Project as part of the giga-projects investment portfolio, helping to establish a unique tourism ecosystem, supporting economic diversification and creating high-value job opportunities.
Saudi Arabia accuses Turkey of supporting extremist militias in three Arab countries
Al-Jubeir stated in a press conference on the sidelines of his visit to the Romanian capital, Bucharest, to meet officials there, on Thursday: “We oppose Turkey’s incursion into Syria, and we oppose Turkey’s support for militias in Somalia, Syria and Libya.”
Love on Saudi Arabia’s silver screens
The love story is a relatively new concept in Saudi movies, but filmmakers and actors are finding they are increasingly able to portray this aspect of life from the Kingdom’s perspective.
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