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  • Inside story: The assassination of a Hamas leader in Tehran

    The Iranian capital was quiet at night after the July 30 inauguration of President Masoud Pezeshkian, which brought scores of foreign delegations to Tehran. But at 1:45 am local time, shocked residents in the affluent north of the city reported the sound of a loud explosion. Within hours, Iranian authorities confirmed that Ismail Haniyeh, the visiting leader of the Palestinian Hamas movement’s political bureau, had been assassinated. A regular visitor in recent years, Haniyeh was in Tehran to attend the inauguration of Pezeshkian.

  • Saudi Arabia’s Q2 GDP shrinks by an estimated 0.4% y/y

    Saudi Arabia's real gross domestic product (GDP) shrank 0.4% year-on-year in the second quarter, preliminary data by the government's statistical authority showed on Wednesday, driven by a 8.5% decline in oil activities which has limited overall growth for several quarters. GDP had decreased 1.7% in the first quarter of 2024, as cuts to oil production have continued to weigh on the major oil exporter's economy.

  • Saudi Arabia Is Near End of Economic Slump Lasting Four Quarters

    Forecasts compiled by Bloomberg show the $1.1 trillion economy is set to return to growth in the third quarter with a gain of almost 4%, in what would be the biggest acceleration since the end of 2022. “We expect this to be the last quarter of deeply negative hydrocarbon sector growth,” said Carla Slim, an economist with Standard Chartered Plc.

  • Saudi Cabinet session praises Kingdom’s 2034 FIFA World Cup bid

    The Saudi Cabinet on Tuesday praised the submission of Saudi Arabia’s bid to host the 2034 World Cup, Saudi Press Agency reported. In a session chaired by Crown Prince Mohammed bin Salman, the Cabinet said the hosting of the World Cup would show the Kingdom’s determination to present an exceptional version of the major sporting event. The bid was submitted to FIFA officials in Paris on Monday by a delegation headed by the Saudi minister of sports, Abdulaziz bin Turki bin Faisal, and President of the Saudi Football Federation Yasser Al-Misehal.

  • An insight into the activities of Saudi Arabia’s General Authority for Competition – highlights of its 2023 annual report

    The Authority carried out a staggering number of 548 dawn raids in 2023, meaning an average of 2.2 dawn raids every business day. The Authority investigated 442 entities and ultimately indicted 186 of them.

  • Seizing Opportunities in Saudi Arabia’s Thriving Business Landscape

    Saudi Arabia's free zones have played a pivotal role in attracting foreign investment and fostering economic growth. These zones offer numerous benefits, including tax exemptions, streamlined regulations, and access to a skilled workforce.

  • Saudi commerce minister leads delegation to Korea

    Trade ties in light of the free trade agreement between the Gulf Cooperation Council and South Korea were discussed when a leading Saudi minister met the East Asian country’s prime minister.  As part of his three-day visit to the republic, Saudi Minister of Commerce Majid Al-Qasabi held talks with Han Duck-soo in Seoul. An FTA between South Korea and the GCC was signed in December 2023, with the East Asian nation agreeing to remove tariffs on almost 90 percent of all items, including liquefied natural gas and other petroleum products.

  • Kuwait’s Big New Offshore Oil Find

    Unlike its prolific onshore, Kuwait’s offshore had long been a desert for oil and gas. Now the country has changed that, reporting a large discovery at the Al-Nokhatha field, named for the captain of a dhow, the traditional Gulf ship. How useful is this for the country, and does it herald a turnaround in Kuwaiti petroleum?

  • Turkish-Saudi Normalization Grows Under Security Umbrella

    Saudi Arabia’s burgeoning political and defense cooperation with Turkey has attracted significant attention, especially following visits by these top Saudi officials, which have paved the way for the signing of key cooperation agreements. Turkish policymakers have hailed the pace of advancements in relations with Saudi Arabia, stating that 2024 could be a “golden year” in Turkish-Saudi economic ties. Beyond the aspirations of policymakers from both countries, evolving regional dynamics are providing critical support for the development of closer Turkish-Saudi relations.

  • Israel-Lebanon facing highest risk since October 2023

    Lebanon and Israel are bracing for the highest risk of full-scale war since October 2023. This latest escalation was triggered by a rocket attack on the Arab Druze village of Majdal Shams in the Israeli-occupied Golan Heights on Saturday, July 27 that killed 12 young people. Israel launched a number of airstrikes on Hezbollah targets on Saturday night, but the Israeli security cabinet met Sunday afternoon, after Prime Minister Benjamin Netanyahu’s return from the US, to decide on further targets to be hit in Lebanon.