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  • Pakistan wins more financing assurances from China, UAE, Saudi IMF official says

    Pakistan has received "significant financing assurances" from China, Saudi Arabia and the United Arab Emirates linked to a new International Monetary Fund program that go beyond a deal to roll over $12 billion in bilateral loans owed to them by Islamabad, an IMF official said on Thursday. IMF Pakistan Mission Chief Nathan Porter declined to provide details of additional financing amounts committed by the three countries but said they would come on top of the debt rollover.

  • Raytheon Delivers Saudi Arabia’s First AN/TPY-2 Air Defense Radar

    Raytheon has delivered the first AN/TPY-2 air defense radar for Saudi Arabia as part of a $2.3-billion deal signed in 2020. According to the company, the radar is the first in its class to feature a complete Gallium Nitride semiconductor, providing expanded surveillance capacity and greater sensitivity to threats. It offers several key advantages over other radio frequency semiconductors in terms of energy efficiency, weight, and power output.

  • Commentary: In the Gulf as in the US, crises can remove barriers to long-term investment

    The near doubling of US crude oil production to 9.5 million barrels per day from 2010 to 2015 rocked global oil markets. Oil prices were around $140 a barrel in mid-2014, but the surge in supply caused prices to crash to $40. For the Gulf countries, this was an unmitigated disaster, as so much of their economy — and with it their sociopolitical system — depended on high and stable oil prices.

  • S&P Global expects Saudi economy to grow by 1.4% in 2024

    S&P Global Ratings expects the Saudi economy to grow by 1.4% in 2024, compared to its previous forecast of 1.5%. The agency also forecast the economy to expand by 5.3% in 2025, versus earlier estimates of 5.4%. It expects inflation to reach 1.8% in 2024, compared to a previous estimate of 2.1%. In 2025, inflation is expected at 1.6%, down from 2%.

  • Oil price fall pushes Saudi Arabia to look at raising output

    Ole Hansen, head of commodities strategy at Saxo Bank, said the move represented “a major shift in thinking” by Riyadh. “The outlook for slowing demand growth, not least in China, has probably prompted them to accept a lower price tag for crude and, with that, the need to increase production,” he said.

  • Saudi Arabia’s coffee expansion is being driven by homegrown brands

    Since its founding in 2018, Half Million has expanded at an extraordinary pace, now boasting 59 stores across 14 cities in the Kingdom.  Its popularity, driven by strategic branding and a social media-driven marketing campaign, reflects not only the country’s growing appetite for coffee but also a wider trend: the rise of national Saudi brands that understand and cater to local preferences.

  • Opinion: Why Everything Is Suddenly Spiraling for Israel

    This Israeli government, led by Benjamin Netanyahu, wants you and me and every Israeli and all of Israel’s friends — and even enemies — to believe that there was always only one right answer to that question: Invade Gaza, hunt down every Hamas leader and fighter, kill every last one and not be deterred by the civilian casualties, then pummel Hezbollah in Lebanon — and do both without spending time planning an exit strategy for either.

  • CENTCOM and Saudi Arabian Armed Forces Conduct Third Iteration of Red Sands Counter-s UAS Exercise

    Three U.S. Army AH-64 Apaches fly in a holding pattern at Red Sands IEC in the CENTCOM AOR Sept. 23, 2024. (U.S. Army photo by Spc. Dean John Kd De Dios)

  • CENTCOM and Saudi Arabian Armed Forces Conduct Third Iteration of Red Sands Counter-s UAS Exercise

    Three U.S. Army AH-64 Apaches fly in a holding pattern at Red Sands IEC in the CENTCOM AOR Sept. 23, 2024. (U.S. Army photo by Spc. Dean John Kd De Dios)

  • Saudi crown prince announces the launch of Riyadh Non-Profit Foundation

    Saudi Arabia’s Crown Prince Mohammed bin Salman announced the launch of the “Riyadh Non-Profit Foundation” and the formation of its board of directors on Thursday. The foundation will be an independent institution and fall under the umbrella of the Royal Commission for Riyadh City, Saudi Press Agency reported. Saudi Arabia’s Crown Prince Mohammed bin Salman announced the launch of the “Riyadh Non-Profit Foundation” and the formation of its board of directors on Thursday. The foundation will be an independent institution and fall under the umbrella of the Royal Commission for Riyadh City, Saudi Press Agency reported.