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Five trends that will shape the Arab World’s online industry in 2015
2014 was a milestone year for online businesses in the Arab world. It was the year in which Arab online users spent more time behind their smartphone and computer screens than their televisions, online classified’s popularity soared over that of print classifieds, and several industries such as transportation, automotive, and food & beverage were disrupted […]
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The fundamentals of the oil price slide: where’s the bottom and is Saudi Arabia still a swing producer?
With a precipitous slide in the price of oil to less than half its July 2014 highs, markets around the world are watching Saudi Arabia closely as they try to figure out where the bottom might be for oil prices. But given its low extraction costs, significant capital investment in production infrastructure and large capital reserves, […]
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Saudi Arabia’s 2015 Budget: A Message of Confidence and Focus on Human Capital – John Sfakianakis
Saudi Arabia’s 2015 budget has captured attention as a counter-cyclical fiscal policy to spend heavily despite a projected deficit on the back of falling oil prices. SUSTG’s President Richard Wilson sat down with Dr. John Sfakianakis, Regional Director for the GCC at Ashmore Group, for a wide-ranging interview to discuss issues affecting the Saudi economy. The discussion […]
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John Sfakianakis on the Saudi Economy and 2015 Budget, Oil Prices, and the Opening of the Saudi Stock Market
SUSTG’s President Richard Wilson sits down with Dr. John Sfakianakis of Ashmore Group to discuss a range of key economic an political topics for Saudi Arabia. This discussion is part of SUSTG.com and SUSRIS.com’s FocusKSA series of online interviews with a wide variety of experts and analysts whose commentary provides insight on issues of importance to […]
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Ras Tanura Clean Fuels Project in Saudi Arabia Suspended Due to Low Oil Price
Saudi Arabia’s $2 billion Ras Tanura clean fuels project has been suspended by Saudi Aramco following a steep drop in oil’s price since July 2014, Reem Shamseddine of Reuters reports. The Ras Tanura clean fuels project was due to be a part of a second phase of upgrades to Aramco’s refineries, but may resume in a […]
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Saudi Arabia’s 2015 Fiscal Budget Expands Spending, Projects $39b Deficit to be Covered by Reserves – Jadwa Investment
Saudi Arabia’s 2015 fiscal spending plans amount to “another expansionary budget with spending maintained at a very high level which will play a vital role in supporting the economy,” according to Riyadh-based Jadwa Investment. The firm notes that for the first time since 2011, a fiscal deficit is projected, based on revenues of SR715 billion and expenditures […]
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Ahead of Budget Announcement, Inflation in Saudi Arabia Hits 7-Year Low
Ahead of Saudi Arabia’s budget announcement, which is expected for the end of the week after a special meeting, inflation in Saudi Arabia is approaching its lowest levels since April 2007, Asharq Alawsat reports. The 7-year low is expected to be official when Saudi Arabia’s Central Department of Statistics and Information releases official data before […]
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Saudi Arabia’s 2015 Budget Expectations – SUSRIS
Writing in SUSRIS, Patrick Ryan provides an overview of the expectations for Saudi Arabia’s upcoming announcement of its fiscal plans for 2015. Although the price of oil has been high in recent years, “this year is different,” Ryan writes: “The 2015 budget, expected to be released on Monday, is anticipated to roll back spending to about SR800 […]
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Saudi Stock Market Posts Biggest Daily Loss in 6 Years as Oil Dips Below $60
Saudi Arabia’s Stock Market posted the biggest loss in 6 years as the bourse reacted to further declines in the price of oil, according to reports. The TASI fell 7.3 percent to 7,330 points, its lowest level since June 2013. Dozens of stocks fell by their daily 10 percent limits, indicating further potential weakness, Arab News […]
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John Kerry’s Remarks at U.S. Chamber of Commerce Middle East Commercial Center Leadership Dinner
In an energetic and wide-ranging speech delivered to guests attending the Middle East Commercial Center Leadership Dinner on Monday night at the U.S. Chamber of Commerce, Secretary of State John Kerry praised the work of the Center and the development of business relationships between the United States and the Middle East region. Secretary Kerry shared […]
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Cloud Seeding Program plans to cover Makkah and Holy Sites using ground-based generators
The Saudi Regional Cloud Seeding Program confirmed that it is working to improve the weather condition in the Kingdom by making optimal use of all available opportunities and technologies. Its focusses include using ground-based generators to stimulate clouds from high altitudes rather than using aircraft. The program also noted that Makkah and the Holy Sites will be given priority while implementing this new technology of cloud seeding program.
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Saudi Crown Prince Postpones Japan Trip Over King’s Health
The trip set to start Monday was to have been the crown prince’s first visit to Japan since 2019. Hayashi said at a regular news briefing in Tokyo the two nations would reschedule the visit, without indicating when.
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Tyson Fury vs. Oleksandr Usyk fight results, highlights: Ukrainian wins to become undisputed heavyweight champ
The narratives went out the window when Oleksandr Usyk and Tyson Fury met to crown an undisputed heavyweight champion on Saturday. Fury, the bigger and supposedly more powerful man, outboxed the boxer in the first half of the fight before Usyk turned the fight on a dime with a brutal ninth-round assault that appeared to have the "Gypsy King" out on his feet for a moment as he stumbled around the ring before crashing to the canvas.
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Saudi Arabia stages ‘historic’ first swimwear fashion show
The poolside show featuring the work of Moroccan designer Yasmina Qanzal included mostly one-piece suits in shades of red, beige and blue. Most models had exposed shoulders and some had their midriffs partially visible.
"It's true that this country is very conservative but we tried to show elegant swimsuits which represent the Arab world," Qanzal said.
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Saudi Arabia studies new strategies to mitigate extreme heat experienced by pilgrims during Hajj
The National Centre of Meteorology in Saudi Arabia is exploring a new strategy to mitigate the extreme heat experienced by pilgrims during the annual Hajj pilgrimage by potentially employing advanced weather modification techniques.Dr. Ayman Ghulam, CEO of the centre, unveiled this innovative approach during a workshop on climate impact for the upcoming Hajj season.
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Hezbollah introduces new weapons and tactics against Israel as war in Gaza drags on
Hezbollah has regularly fired missiles across the border with Israel over the past seven months, but the one on Thursday appears to have been the first successful missile airstrike it has launched from within Israeli airspace. The group has stepped up its attacks on Israel in recent weeks, particularly since the Israeli incursion into the southern city of Rafah in the Gaza Strip. It has struck deeper inside Israel and introduced new and more advanced weaponry.
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Young Population of Early Adopters Have Facilitated the Rapid Uptake of Smart Appliances
We have witnessed intelligent homes grow in tandem with rapid urbanization across the Middle East and increased accessibility of smart appliances. Middle East customers rank among the most engaged users worldwide, with 14 daily interactions per customer. In 2023, Alexa’s monthly active customers in the region increased by 40%, with 11 smart appliances connected to Alexa per customer on average.
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Umrah not allowed for those without a Hajj permit between May 24 and June 26
The Ministry of Hajj and Umrah announced that Umrah permits will not be issued for those who do not have a confirmed Hajj permit during the period from Dhul Qada 16, corresponding to May 24, until Dhul-Hijjah 20, corresponding to June 26. The ministry issued the directive to facilitate the Hajj pilgrims, who started flocking to Saudi Arabia from all over the world, to perform their rituals at the Grand Mosque in Makkah in ease and comfort.
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Saudi king to be treated for lung inflammation, state news agency says
Saudi King Salman will undergo treatment at Al Salam Palace in Jeddah for a lung inflammation, the state news agency said on Sunday, hours after he underwent medical tests.Citing the royal court, the state news agency said the 88-year-old king would be treated with antibiotics until the inflammation subsides.Due to King Salman's health issue, Crown Prince Mohammed bin Salman, the de facto Saudi leader, postponed a visit to Japan that had been scheduled to begin on Monday, Japan's Chief Cabinet Secretary Yoshimasa Hayashi said.
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Readout of National Security Advisor Jake Sullivan’s Meetings in Saudi Arabia and Israel
Mr. Sullivan arrived in Israel from Dammam, Saudi Arabia, where he held constructive meetings with the Crown Prince and Prime Minster of Saudi Arabia Mohamed bin Salman focused on a comprehensive vision for an integrated Middle East region. Mr. Sullivan briefed Prime Minister Netanyahu and his team on these meetings and the potential that may now be available for Israel, as well as the Palestinian people.
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