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World’s Tallest Building Set for Saudi Arabia Delayed Again After Binladen Group Turmoil, Now Expected in 2019
Saudi Arabia’s under-construction Kingdom Tower Jeddah, set to be the world’s tallest building when finished, has been delayed until 2019, Prince Alwaleed bin Talal said at the building’s construction site yesterday. “The project was delayed… but it’ll open (in) 2019,” Prince Alwaleed said. Alwaleed is chairman of Kingdom Holding Company and consistently listed as the […]
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Saudi Arabia’s Vice Minister of Economy and Planning Mohammed Al Tuwaijri Gives Interview to Bloomberg News
Saudi Arabia’s powerful vice minister of economy and planning Mohammed Al Tuwaijri gave an interview to Bloomberg News on Tuesday and discussed the government’s borrowing plans, infrastructure spending and how the kingdom still intends to balance its budget by 2020. Al Tuwaijri, who is also head of the finance committee at Saudi Arabia’s powerful Council of Economic […]
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U.S., Saudis in Talks for New Defense Deals Worth Billions Ahead of Trump’s Visit, Sources Tell Reuters
Washington and Riyadh are working to boost military sales from the U.S. to Saudi Arabia for new and existing contracts worth “tens of billions of dollars” ahead of U.S. President Donald Trump’s trip to the kingdom this month, Reuters reports, citing several sources familiar with the talks. According to Reuters, “as planning for Trump’s trip to Saudi […]
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IMF: ‘The Redistribution of Oil Wealth Through Government Jobs and Generous Subsidies is No Longer Sustainable’
A recent report by the International Monetary Fund (IMF) finds growth in the Middle East is slightly improving “largely driven by higher oil prices and improved export prospects” but emphasizes that countries will need to continue with plans to diversify their economies and implement policies that support jobs and productivity, like education and infrastructure reforms. “Persistently […]
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Setback for Women in Saudi Arabia as Proposal for Women’s Sports Education Colleges Fails in Shoura
The Shoura Council failed to pass a proposal to establish sports education colleges for women this week by just three votes. According to Arab News, the proposal called for a joint venture between the Education Ministry and the General Authority of Sports. The goal is to educate Saudi women on fitness and sports-related sciences and […]
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Secretary of State Rex Tillerson, Saudi Minister of Commerce Dr. Majed Al-Qassabi Deliver Keynote Remarks at U.S.-Saudi Arabia CEO Summit
Secretary of State Rex Tillerson gave his first on-the-record public speech as Secretary yesterday to the U.S.-Saudi Arabia CEO Summit, hosted by the U.S. Chamber of Commerce, the Saudi Committee for International Trade and the Council of Saudi Chambers of Commerce. The Secretary said that the U.S.-Saudi Relationship should be “taken to new heights” and […]
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Saudi Finance Minister Mohammed Al-Jadaan: No Income Tax for Saudi Citizens, No Company Profit Taxes
Saudi citizens would not pay taxes on income and Saudi companies would not see their profits taxed with economic reforms being introduced in the Kingdom, Saudi Arabia’s finance minister Dr. Mohammed Al-Jadaan said on Sunday, Reuters reports. Reuters reports that Al-Jadaan sought in a statement carried by state news agency SPA to “allay concern” that […]
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Saudi Arabia Praises Trump Airstrike Punishment of Syria Chemical Attack
Saudi Arabia said on Friday it “fully supports” U.S. strikes on military targets in Syria, saying it was a “courageous decision” by President Donald Trump in response to the use of chemical weapons against civilians. The United States had fired nearly 60 Tomahawk missiles at a military airfield in Syria, the first direct military action […]
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New Accounting Standards Cost Saudi $1.3b, but Feared Accountant Shortage Avoided
Writing in Forbes, contributor Dominic Dudley notes that Saudi Arabia’s January 2017 switch to new accounting standards did not cause chaos in the Kingdom’s affected listed companies as feared, but it did cost some companies a pretty penny. Saudi Arabia’s switch from accountancy standards set by the Saudi Organization for Certified Public Accountants (SOCPA) to International Financial Reporting […]
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Moody’s Says Saudi Fiscal Position is Strong, Eyes Oil Dependency as Key Credit Challenge
Bond credit rating agency Moody’s Investors Service said Saudi Arabia’s fiscal position remains strong at the A1 rating level, but said that reducing the Kingdom’s high oil dependency is the key credit challenge the country faces. Moody’s said that while the government has announced ambitious and comprehensive reform plans with its Vision 2030 and National Transformation Plan, […]
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Saudi Arabia’s Hades Financial readies $750m for India investment
The Riyadh-based group, which manages assets worth $6.1 billion, will deploy the new funds over the next three years. About $400 million from the new allocation will flow into homegrown companies, mostly those ripe for a public flotation within three years, said Mohammed Abrar Asif, co-chief executive officer at Hades, in a recent interview with Nikkei Asia.
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Here are all the athletes representing Saudi Arabia at Paralympics Games Paris 2024
When Saudi Arabia said it was going for global domination, it wasn’t just talking about expanding its regional developments. The Kingdom also had its eyes set on shining on the international stage, particularly in sports where Saudi athletes are stepping into the limelight. With the Paralympics Games Paris 2024 in full swing, Saudi Arabia’s talented athletes are ready to compete and make history.
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Saudi Masters Snooker Championship to Start Tomorrow in Riyadh
The first edition of the Saudi Masters Snooker Championship begins tomorrow in Riyadh. Organized by the Saudi Billiards and Snooker Federation under the supervision of the Ministry of Sport, the tournament will take place at the Green Halls Sports Complex and continue until September 7. It will feature 144 players from around the world. The championship boasts the participation of global stars, led by seven-time world champion Ronnie O'Sullivan and the world's top-ranked player, Judd Trump.
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Rory McIlroy, and ‘the next step’ if a Tour-Saudi deal doesn’t happen
Rory McIlroy says if a funding deal between the PGA Tour and the Saudi Arabia Public Investment Fund doesn’t happen soon, the PIF will look at “alternative options.” What those options would be was unclear as the Tour and PIF continue to negotiate, 14 months after the sides agreed to do so. McIlroy was speaking after Thursday’s play at the Tour’s season-ending event, the Tour Championship.
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K. Hovnanian to Enhance Saudi Arabia Housing Sector
Matawan-based Hovnanian Enterprises, Inc., a leading national homebuilder across the United States, announced the signing of a Memorandum of Understanding (MOU) between its subsidiary, K. Hovnanian M.E. Investments, LLC, and the Ministry of Municipalities and Housing of the Kingdom of Saudi Arabia. Hovnanian Enterprises, Inc., founded in 1959 by Kevork S. Hovnanian, is headquartered in Matawan, New Jersey and, through its subsidiaries, is one of the nation’s largest homebuilders with operations in Arizona, California, Delaware, Florida, Georgia, Maryland, New Jersey, Ohio, Pennsylvania, South Carolina, Texas, Virginia and West Virginia.
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Al-Kheraiji: Saudi donations to Gaza surpass $185 million
Deputy Foreign Minister Eng. Walid Al-Kheraiji said that the value of donations extended by Saudi Arabia to Gaza reached more than $185 million. Addressing the 50th session of the Council of Foreign Ministers of the Organization of Islamic Cooperation (OIC), in Yaoundé, capital of Cameroon, on Thursday, the deputy minister renewed Saudi Arabia’s condemnation and rejection of all forms of crimes against the Palestinian people by the Israeli occupation forces.
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Saudi Ambassador to EU says Schengen visa issuance unchanged
Saudi Ambassador to the European Union Haifa Al-Jedea said that the Schengen visa is still issued in the usual way by visiting the headquarters of European embassies, denying the launch of a system to issue it electronically.
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Hail Governor Receives Torch of Saudi Games 2024
Governor of Hail region Prince Abdulaziz bin Saad bin Abdulaziz today received the torch of the third edition of the Saudi Games 2024 as it embarked on its promotional journey for the Kingdom's largest national sporting event. This year's torch tour is crucial in promoting the Saudi Games 2024. It aims to explore key cultural, historical, and tourist sites, covering 47 famous locations across the Kingdom. Accompanied by notable champions and influencers recognized for their significant contributions and accomplishments, local communities are joining in the festivities of the Kingdom's most prominent national sports event.
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How US Surged Forces to Middle East To Keep Iran at Bay
The United States shifted significant naval and air forces to the Middle East this month from bases at home and abroad, adding to 10 months of increased American military presence in the region amid tensions between Israel and Iran. The latest U.S. military deployments come after the killing of Ismail Haniyeh, Hamas' top political leader, sparked repeated Iranian threats of retaliation against Israel, which has neither confirmed nor denied its involvement in the July 31 airstrike that killed him in Tehran.
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US military turns to Tinder to issue warning amid rising tension in Middle East
In a unique move, the US military has turned to dating app Tinder to issue warnings about the potential escalation of the conflict in the Middle East. US Central Command, which oversees military operations in the Middle East and Central Asia, reportedly purchased ad space on Tinder to deter attacks on US forces and allies. “The United States will protect its partners in the face of threats by the Iranian regime and its proxies,” the ad read in Arabic, along with images of warplanes and the logo of CENTCOM. “Do not take up arms against the United States or its partners.”
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