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Overview of Saudi Arabia’s Drive Toward Privatization
Saudi Arabia’s push toward privatization is a key component of the government’s ambitious Vision 2030 economic and social reform program, and necessary for the Kingdom’s goals of diversifying its economy away from petroleum revenue dependency. The news service Reuters provides a “factbox” list of Saudi Arabia’s sectors that are making progress toward privatization, and encouraging […]
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Ahead of Trump’s Visit, White House Official Tells Reuters $100b in Arms Deals Planned
The United States is close to completing a series of arms deals with Saudi Arabia totaling more than $100 billion, a senior White House official told Reuters on Friday, a week ahead of President Donald Trump’s planned visit to Riyadh. The arms deals could reach up to $300 billion over 10 years to help Saudi […]
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Major Reduction in Quarterly Budget Deficit Figures a Positive for Kingdom’s Economic Reforms
In an analysis of official data from the Kingdom, Bloomberg found a significant year-on-year reduction in Saudi Arabia’s budget deficit from Q1 2017, a sign that the Kingdom’s economic reforms coupled with an uptick in oil prices have positively impacted the government’s balance sheet. According to Saudi Arabia’s finance ministry and as reported in Bloomberg, […]
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Plans Move Ahead for Saudi Arabia’s ‘Fannie Mae’ Mortgage-Refinancing Firm
Saudi Arabia’s first mortgage-refinancing firm has started approaching banks to buy their mortgage portfolios as the state tries to boost lending for homes, Bloomberg reports. In 2015, Bloomberg and Reuters reported on Saudi Arabia’s plans to work with the Boston Consulting Group to help start a state-owned mortgage firm similar to the U.S.’s Fannie Mae and […]
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7 Major Changes to the Kingdom of Saudi Arabia that Happened This Weekend and What They Mean
Over the weekend, Saudi Arabia’s King Salman announced a series of major changes to key leadership positions, a new “national security center” for Saudi Arabia that is affiliated with the Royal Court, and more. Here’s what is different now for Saudi Arabia and what those changes mean for the Kingdom, U.S.-Saudi relations and Saudi Arabia’s […]
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Saudia Chief Al-Shibl: Saudi Arabian Airlines is Seeking to Become the Largest Carrier in the Middle East
Saudi Arabian Airlines is seeking to once again become the largest carrier in the Middle East and efforts are underway toward achieving this goal, Dr. Ghassan Al-Shibl, chairman of the board of Saudia told Asharq Alawsat around the U.S.-Saudi Arabia CEO Summit. Al-Shibl said that Saudia has reached a deal that will see the state-owned airline purchase 30 […]
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FULL TEXT: Secretary of State Rex Tillerson’s Remarks at the U.S.-Saudi Arabia CEO Summit
Full text of the Secretary of State’s remarks at the U.S.-Saudi CEO Summit, hosted by the U.S. Chamber of Commerce, the Saudi Committee for International Trade and the Council of Saudi Chambers of Commerce. *** SECRETARY TILLERSON: (Applause.) Well, thanks so much, Tom, and good afternoon to all of you. And Tom and I are old […]
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Demand for Homes in the Kingdom Soars, But Supply Falls Short
Saudi Arabia needs to build nearly 414,000 houses this year to meet the needs of its rapidly growing population, a report in Zawya.com said, citing a report in the Arabic language daily Al-Madina which based the information on official statistics from the Saudi Ministry of Housing. The Kingdom must play catch up in order to meet […]
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In Shift from Obama, Trump to Host Egypt’s President Sisi at the White House for Lengthy Lunch Meeting
Egypt’s strongman president Abdul Fattah al-Sisi will visit the White House for the first time since he led the military’s overthrow of his predecessor in 2013, marking a shift in U.S. policy under President Obama who never invited him to the White House. President Trump “wants to use President Sisi’s visit to reboot the bilateral relationship and […]
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The U.S. is ‘Significantly Increasing’ Support for the Saudi-led Coalition in Yemen as Conflict Enters Third Year
The Trump administration has “significantly increased” military support for the Saudi-led coalition fighting al Qaeda and Iranian-backed militias in Yemen, the Wall Street Journal reports. The increase in support by the Trump administration raises the stakes for the United States in the war in Yemen, now entering its third year. It also continues a warming trend in […]
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Saudi Arabia: Women’s fashion projected to become $53bn market by 2030
Rising female workforce participation, coupled with increasing westernisation of clothing, besides rising social media influence and mushrooming of online shopping platforms are the driving forces for the unprecedented growth in the fashion wear segment in Saudi Arabia, the research by global advisory firm RedSeer said.
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First Iraqi car enters Kuwait after 33 years
Iraqi Ambassador to Kuwait, Al-Manhal Al-Safi, announced yesterday the entry of the first Iraqi car into Kuwait in more than 33 years. This came ahead of the football match between the Iraqi and Kuwaiti national teams in the Asian qualifiers for the 2030 World Cup, scheduled to be held tomorrow. Al-Safi said on his account on X that the car belongs to an Iraqi citizen who came to attend the match, and thanked Kuwait for the warm reception.
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UAE completes Arab world’s first nuclear plant
Abu Dhabi's Barakah Nuclear Energy Plant will produce 40 terawatt-hours (TWh) of electricity annually after its fourth and final reactor entered commercial operation, the state-owned Emirates Nuclear Energy Corporation (ENEC) said in a statement. It will generate 25% of the electricity needs of the hot, desert Gulf state, where air-conditioning is ubiquitous – nearly the equivalent of New Zealand's annual consumption, ENEC said.
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Dr. Basma AlBuhairan: A Story of Cross-Sector Leadership
The Kingdom’s ranking in global innovation and technology indices is continuously improving. Saudi Arabia jumped 10 ranks to achieve 2nd place among the G20 countries according to ITU’s ICT Development Index (IDI) 2023
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How a Saudi university’s AI solution is revolutionizing Red Sea coral conservation
The groundbreaking technology, Coral-AI, combines real-time environmental monitoring with automated delivery of beneficial microorganisms, offering a proactive approach to preserving coral health not just in the Red Sea, but potentially across the world’s oceans. The Red Sea, the world’s northernmost tropical sea, is a semi-enclosed body of water connected to the Mediterranean Sea and the Arabian Sea through the narrow Suez Canal and Bab Al-Mandab Strait.
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Iran’s president visits Iraq amid Middle East tensions
Iranian President Masoud Pezeshkian visited Iraq on Wednesday on his first foreign trip, signalling the clerical establishment's intention to strengthen ties with a strategic ally of both Tehran and Washington as regional tensions rise. Pezeshkian, a relative moderate who was elected in July, met Iraqi Prime Minister Mohammed Shia al-Sudani at the start of a three-day visit that Tehran and Baghdad said would include the signing of a number of agreements and discussion of the Gaza war and the situation in the Middle East.
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23 years later, September 11 families continue quest for accountability from Saudi Arabia through civil lawsuit
Now, as survivors and the victims’ families commemorate another anniversary, they await a federal judge’s pivotal decision in their yearslong legal battle with the Kingdom of Saudi Arabia over their claim of KSA’s role in backing an extremist support network that assisted the hijackers in the US leading up to the attack on the World Trade Center and the Pentagon on September 11, 2001. The Kingdom denies the allegations.
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Saudi FM discuss Palestine, Syria and Somalia crises with counterparts in Cairo meeting
Saudi Foreign Minister Prince Faisal bin Farhan met with his counterparts at the sidelines of the Arab League foreign ministers meeting in Cairo on Tuesday. During the meeting, ministers discussed joint Arab action to intensify coordination on the Palestinian issue and other matters of concern. Regional and international developments were also discussed at the meeting that was attended by a Turkish foreign minister for the first time in 13 years.
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Saudi Arabia says Israel humanitarian aid blockade in Gaza amounts to ‘war crime’
Saudi Arabia said, Tuesday, that Israel’s obstruction of humanitarian aid to the Gaza Strip is a “war crime” and a “humanitarian catastrophe”, according to Saudi state channel, Al-Ikhbariya. The failure to reach a ceasefire in Gaza for nearly a year is evidence of the “repeated failure of the international security system,” Foreign Minister, Prince Faisal Bin Farhan, said at a news conference in Cairo with his Egyptian counterpart, Badr Abdelatty, Anadolu Agency reports. Bin Farhan criticised Israel’s intransigence and refusal to agree to a ceasefire.
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Saudi Arabia reopens embassy in Syria, completing reconciliation with Assad regime
At a reception held at Damascus’s Four Seasons Hotel on Monday, Saudi Chargé d’Affaires, Abdullah Al-Harith, stated that the reopening of the Kingdom’s diplomatic mission in Syria “represents an important moment in the history of relations between our two brotherly countries”. He also emphasised Riyadh’s commitment to developing bilateral relations with Damascus.
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