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  • Saudi Arabia announces start dates for Hajj and Eid Al Adha

    The annual Hajj pilgrimage will begin on June 14 with Eid Al Adha falling two days later, Saudi Arabia confirmed on Thursday evening.

    The announcement by the Saudi Supreme Court came after the crescent moon, which heralds the start of Dhu Al Hijjah, the 12th and final month in the Islamic calendar, was sighted on Thursday evening.

    It means Dhu Al Hijjah will begin on Friday, allowing for the start dates of both Hajj – which falls on the eighth day of the month – and Eid Al Adha, which commences on its tenth day, to be determined

  • As ties thaw with Saudi Arabia, thousands of Syrians fly there for haj

    For the first time in more than a decade, thousands of Syrians are travelling directly from government-held parts of Syria to Saudi Arabia for the Haj rituals, a signal of Syrian President Bashar al-Assad's gradual reintegration into the Arab fold.
    After Syria's conflict erupted in 2011, Saudi Arabia cut ties with Assad and backed figures opposed to him - including by granting Syria's opposition thousands of visas to be distributed among Syrian pilgrims in Lebanon, Jordan, Egypt and Turkey.

  • Sinopec awarded $1.37 Billion Contract from Saudi Aramco

    Sinopec International Petroleum Services Corporation, a wholly-owned subsidiary of Sinopec Oilfield Service Corporation and Saudi Arabian Oil Company (Saudi Aramco) entered into a turn-key fixed-price contract for the in-country procurement and construction of Packages 6 and 7 of the Phase 3 Pipeline Project Clusters of the Master Gas System (“MGS”),

  • Yemeni leader receives Saudi defense minister in Riyadh

    Rashad Al-Alimi, Chairman of Yemen’s Presidential Leadership Council received on Wednesday Saudi Arabia’s Minister of Defense Prince Khalid bin Salman, the Saudi Press Agency said. The pair discussed the ongoing efforts to advance the roadmap and reach a comprehensive political solution in Yemen under UN supervision. “I reiterated the Kingdom’s commitment to fully supporting Yemen in realizing the aspirations of its people,” Prince Khalid said on X.

  • “If You Build It, They Will Come”: Prospects for Foreign Direct Investment in Saudi Arabia

    Attracting higher foreign direct investment is a key part of the policy roadmap to diversify the Saudi economy. Vision 2030 set a goal of an increase in FDI to $100 billion, or 5.9% of gross domestic product, by 2030. FDI inflows were $29 billion in 2016, when Vision 2030 was announced. Increased FDI will support the development of new industries and sectors, such as artificial intelligence, gaming, advanced manufacturing, mining, renewable energy, and tourism. FDI brings the technology, capital, training capabilities, and business models that are essential for the long-term success and competitiveness of Saudi Arabia’s non-oil economy.

  • Saudi Arabia warns of a hot Hajj this year with temperatures of 48°C

    Saudi Arabia has forecast an average high temperature of up to 48ºC in Makkah during the Hajj pilgrimage this month, according to meteorological services.

    “The expected climate for Hajj this year is an increase in average temperatures of one and a half to two degrees above normal in Makkah and Madinah,” National Meteorology Centre chief Ayman Ghulam said on Tuesday.

    He said afternoon temperatures could peak at 48ºC.

  • Saudi Arabia cuts July Arab Light crude oil OSP to Asia

    Saudi Arabia set its flagship Arab Light crude oil official selling price (OSP) to Asia at plus $2.40 versus Oman/Dubai average for July, a document seen by Reuters showed on Wednesday.
    That marks a 50 cent per barrel cut from the June OSP, the first cut in five months and towards the lower end of market expectations according to a Reuters survey.
    Its OSPs for other crude grades sold to Asian customers were slashed by 40-60 cents, the document showed.

  • Is Normalization between Saudi Arabia and Israel Still Possible?

    “The issue of Israel recognizing a two-state solution is in its own interest. I firmly believe that a two-state solution, that the establishment of a credible Palestinian state, serves not just the interests of the Palestinians and delivers their right to self-determination; it is also in the interest of Israel and delivers the security that Israel needs and deserves.” Unlike Iran and its allies, who explicitly call for Israel’s destruction, the Saudi position upholds the promise of the 2002 Arab Peace Initiative that acknowledges Israel’s right to exist within secure borders but asserts that this can only be achieved through the creation of a viable Palestinian state. This is a view that the Saudis believe reflects the majority position of most Arab and Sunni Muslims.

  • IMF Expects GCC Reserves to Grow by $300-$350 Bln in Three Years on Higher Oil Prices

    The International Monetary Fund expects the foreign reserves of the six oil-rich Arab countries of the Gulf Cooperation Council (GCC) to increase by $300-$350 billion in the next three years, a senior official said on Tuesday.

    The GCC - which comprises Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Bahrain, Oman - "will benefit from the increase in oil prices", Jihad Azour, Director of the Middle East and Central Asia Department at the IMF, told Asharq TV. Oil prices have risen about 60% from the start of the year as global demand recovers from the coronavirus pandemic.

  • Iran General killed in suspected Israel air strike in Syria

    An Iranian General has been killed in a suspected Israeli air strike near the Syrian city of Aleppo, nearly two months after the Islamic Republic warned it would retaliate against attacks on its interests, Iran’s state TV reports. According to the report, Saeed Abyar, described as a Military Adviser, was targeted in a bombing raid resulting in the death of several civilians and “material losses”.