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  • Oversupply in Oil Markets Continues Downward Pressure on Prices
     

    Global oil markets have entered a period of oversupply, putting downward pressure on prices and eliciting calls for the world’s largest producers like Saudi Arabia to act on top of March 2017 OPEC cuts to reduce the glut. Oil prices fell 3 percent on Friday after data showed U.S. production rose last week just as […]

     
  • Response to Qatar Demands Given Two-Day Deadline Extension
     

    Four Arab states lead by Saudi Arabia agreed to extend until late on Tuesday a deadline for Doha to comply with a list of demands, as U.S. President Donald Trump voiced concern to both sides about the dispute, according to Reuters and other reports. Qatar’s foreign minister said via Twitter that the demands “were meant […]

     
  • Saudi Begins Extended Eid Al-Fitr Holiday as Massive Celebrations Planned
     

    An extended Eid Al-Fitr holiday began in Saudi Arabia and most other Arab countries on Sunday, marking the end of the holy fasting month of Ramadan. Kuwait, Qatar and the United Arab Emirates will also start the holiday on Sunday, but Oman starts the holiday on Monday, according to reports. The timing of Eid can vary […]

     
  • Bechtel Appoints Abdulrahman Al-Ghabban as New Country Manager in Saudi Arabia
     

    Bechtel, a global leader in engineering, procurement, and construction, today announced the appointment of Abdulrahman Al-Ghabban as country manager in Saudi Arabia.  Al-Ghabban will lead Bechtel’s business and operations in the Kingdom. Al-Ghabban said “I am honored to be the first Saudi national to hold the position as country manager for one of the most […]

     
  • $1.4b in Defense Contracts Approved by State Department as Senate Eyes Debate
     

    The U.S. State Department has approved the potential sale of more than $1.4 billion worth of military training and equipment for Saudi Arabia, the Pentagon said on Monday, the first fraction of a $110 billion arms deal U.S. President Donald Trump agreed to with Saudi Arabia when he visited in May. The announcement by the State […]

     
  • New Video Shows How Riyadh Metro Will Transform Saudi Capital
     

    Riyadh’s new metro project is already transforming the face of the city, and will change how its citizens get around in the Saudi capital. There is no large-scale public transportation system currently in place in the city, and the city’s traffic situation reflects this reality. A new graphical video released on YouTube by The Business […]

     
  • VAT Draft to Hit General Authority of Zakat and Tax in ‘Weeks’
     

    Saudi Arabia’s General Authority of Zakat and Tax will publish the value-added tax (VAT) draft on its electronic portal within the next two weeks, Reuters reports, citing local media reported. The General Authority for Zakat and Tax announced on Sunday that the implementation of 5% VAT starting January 2018 “will have no exceptions.” This 5% […]

     
  • New Life for the 15 Year Old Abdullah Arab Peace Initiative?
     

    At a summit in Beirut in March 2002, then-Saudi Crown Prince Abdullah unveiled an initiative to achieve peace between Israelis and Palestianians. The Arab Peace Initiative set out a comprehensive proposal calling for full Israeli withdrawal from all the Arab territories occupied since June 1967, Israel’s acceptance of an independent Palestinian state with East Jerusalem as […]

     
  • Counting The US-Saudi Deals: A Look at What We Know So Far following President Trump’s Visit to Saudi Arabia
     

    Bloomberg and naturalgasintel.com feature a thorough rundown of all of the deals that were announced during the recent visit by President Donald Trump to Saudi Arabia.  While the total remains unknown, the deals are estimated to be valued between $300 and $400 billion. Aerospace, Arms and Defense – $110 billion U.S. Department of Defense and Saudi […]

     
  • Following President Trump’s Visit, U.S.-Saudi Business and Diplomatic Ties Reach New Heights
     

    The two-day visit by President Trump and top members of his family and staff to Riyadh, Saudi Arabia marks a new height in the history of U.S.-Saudi diplomatic and business relations as the warm Saudi embrace of President Trump was on full display in the Kingdom. President Trump’s visit amounted to a bonanza for large, established American companies […]

     

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