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Saudi Government Data Reveals Large-Scale Crackdown on Illegal Workers, Residents
A crackdown that began in November 2017 on illegal labor in Saudi Arabia has resulted in the deportation of 750,504 expatriates to their respective countries, according to official data. The kingdom has been detaining people for residential, labour and border security regulations since November 2017 with 19 government departments participating in the campaign. Saudi Arabia is […]
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Lockheed Clinches $2.4 billion Deal for Sale of ‘Crown Jewel’ THAAD missiles to Saudi Arabia, Part of $15 billion Package
Bethesda, Maryland-based Lockheed Martin Corporation was awarded a $2.4 billion Pentagon contract on Monday for THAAD interceptor missiles, some of which will head to Saudi Arabia, Reuters reports. The announcement of the THAAD system was “part of a $15 billion package for defensive ballistic missile systems,” the UPI reports. Lockheed will provide interceptors and associated one-shot […]
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Inflows Surge as Tadawul Upgrades to Inclusion in FTSE Russell and S&P Dow Jones Emerging Market Indices
Saudi Arabia’s stock exchange, the Tadawul, began the first phase of inclusion into the FTSE Russell and S&P Dow Jones Indices (S&P DJI), which is expected to lead to billions in inflows into the country and represent a milestone for Saudi authorities as the country continues to open up to investment. Inclusion of Saudi Arabia into the FTSE Russell […]
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Ambitious Goals for Saudi Ports in Vision 2030 Drive
The Saudi Ports Authority says it aims to reduce container time at its ports to three days by 2020 while simultaneously pushing for more than double handling by 2030, according to the Saudi Press Agency and other reports. The goals fit into the kingdom’s Vision 2030 economic and social reform drive which prioritizes the generation of efficiencies […]
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Saudis ‘interested in market stability first and foremost’ despite Trump’s tweets
President Trump’s attempts to restrain oil prices via Twitter have a reduced impact as Saudi Arabia says it will continue output cutbacks aimed at raising the price on global indices.. The President has used his Twitter account successfully in the past year to blast OPEC and Saudi Arabia while the price of crude rebounded from 2016 lows. […]
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Visa Launches Apple Pay in Saudi Arabia as Executives Continue Probe of Absher App
Visa on Tuesday launched Apple Pay in Saudi Arabia, allowing its Kingdom-based cardholders to make payments using their Apple devices, according to reports. Early reports via Apple Insider show “compatibility with previously confirmed financial partners including the country’s largest institution, the National Commercial Bank….Separately, individual banks like Al Rajhi confirmed access to the service in release notes accompanying […]
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Saudi Arabia to establish an independent export and import finance bank
Saudi Arabia will establish an independent export and import finance bank with a capitalization of SAR 30 billion riyals ($8 billion) to provide financing to local exporters and foreign importers, the UAE-based The National reports. The Kingdom first proposed the EXIM bank to support sales of its goods abroad in 2017. The Saudi Exports Development Authority (SEDA) […]
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Report: The Oil Market Roller Coaster
It has been a tumultuous six months for oil prices on international indices. Prices have slightly rebounded early in 2019 after a precipitous fall from over $86 in September on the Brent Index to just over $50 on Christmas Day. In response, the Saudi-led OPEC+ group agreed in December to cut prices to erode a global […]
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OPEC Gets Jump on Planned Production Cuts, Slashes Output in December
The nations forming the OPEC+ alliance slashed oil production in December, one month before the producer group officially began a fresh round of output cuts agreed to late last year in response to a global supply glut and fears of a worldwide recession, according to CNBC. OPEC’s oil output fell by 751,000 barrels per day, to 31.6 million […]
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Reports: Potential Deal for New Saudi Investment in U.S. Energy Sector
Saudi Arabia is reportedly eyeing an investment in U.S. liquefied natural gas (LNG) in what would mark a “sea change in the energy flows between the U.S. and Saudi Arabia,” the Wall Street Journal reported Tuesday citing unnamed sources. The WSJ reports the “landmark decision” would mark a shift for Saudi Arabia, which in the past has been an energy […]
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Iran hard-liners see Saudi Embassy attack as a win-win. Are they wrong? (+video)
When hard-line Iranian demonstrators torched part of the Saudi Embassy in Tehran Sunday night to protest Saudi Arabia’s execution of a prominent Shiite Muslim cleric, Nimr al-Nimr, it wasn’t just the building that was damaged.
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Editorial: Who Lost the Saudis?
As for the Saudis, they can be forgiven for doubting that they can count on President Obama. Fairly or not, they concluded from the fall of Egypt’s Hosni Mubarak that this Administration will abandon its friends in a pinch.
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Leaked documents may reveal the inner workings of the Islamic State — but what if they are fake?
For instance, two well-known forgeries — a purported price list for Yazidi and Christian slaves and an order to withdraw from Iraq — use the label "Islamic State of Iraq" (the Islamic State's first predecessor to claim the statehood mantle, which it did in 2006). No authentic document I have seen since 2013 uses this label, and it is a very obvious error.
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Commentary: What’s Saudi’s new Islamic coalition really up to?
The role of the alliance in confronting IS will become clearer following the political processstipulated by UN Security Council regarding Syria. The process is designed to resolve Syria's civil war by forming a unified government and holding elections within the next 18 months.
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Perspective: Is Saudi Arabia building an ‘Islamic NATO?’
From their vantage point, this coalition might in fact be a reaction to what they perceive as the international community's (under US leadership) largely ineffective campaign against IS, which in their eyes, lacks a clear strategy and resolve and neglects the two main factors that have allowed IS to spread: Bashar al-Assad’s brutalization of Syria’s Sunni majority and Iran’s support of Shiite militias in Iraq, Syria, Lebanon and Yemen.
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Yemen peace talks: Are the decision makers in Switzerland?
The third day of Yemen's peace talks in Switzerland ended on Thursday with fears they are on the brink of collapse after two intense sessions in which stark differences emerged between the camps over demands by the Hadi government for the release of senior officials held by the Houthis.
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Has Kerry Opened the Door for Syria’s Assad To Stay?
On a trip to Moscow this week, Secretary of State John Kerry urged a focus not on removing Syrian President Bashar Assad but instead on developing greater cooperation in Syria — a change in tone which could represent a reversal of standing US policy and have dramatic repercussions for the fight against the Islamic State group.
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Can engineers resolve Saudi’s housing shortage?
The Kingdom's housing ministry recently said the country will need three million new homes by 2025.
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Perspective: Iraq has Fragmented: Can it be Put Back Together?
Present policy is directed at strengthening the Iraqi military by providing weapons and training so it can fight ISIL more effectively and regain control over the entire country, while at the same time convincing the government in Baghdad to become more inclusive, less corrupt, and more responsive to its citizens.
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What’s the San Bernadino shooters’ Saudi connection?
“Why would he do something like this? I have absolutely no idea. I am in shock myself,” Malik’s brother-in-law, Farhan Khan, told The Los Angeles Times.
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