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Virginia-Based SAIC Wins $49.5 Million U.S. Navy Contract for Royal Saudi Naval Forces
The U.S. Navy awarded Reston-based Science Applications International Corp. (SAIC) a $49.5 million single-award task order to continue to provide the Royal Saudi Naval Forces support services for command, control, communications, computers, and intelligence, surveillance and reconnaissance (C4ISR) upgrade and refurbishment, a press release issued by the company confirms.
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Coronavirus, Lockdowns, Low Oil Prices Take Toll on Saudi Economy in 2Q 2020 — Report
Saudi Arabia’s economy contracted 7% year-on-year in the second quarter of 2020 as the toll wrought by the Coronavirus pandemic and lower oil prices becomes clear, according to Bloomberg.
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Global Dialogue Interview: Saudi Arabia ‘Vision or Mirage’ Author David Rundell
Saudi Arabia expert David Rundell is the author of a new book on Saudi Arabia, Vision or Mirage, Saudi Arabia at the Crossroads, which was released on September 17th 2020.
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Saudi Arabia Celebrates 90th National Day
Saudis around the world are celebrating Saudi Arabia’s 90th National day today, the Kingdom’s top national holiday dedicated to the history of the Kingdom as a unified state.
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Saudi Government Lifts Suspension of Entry and Exit into Saudi Arabia for Residents, Visa Holders
The Government of Saudi Arabia announced changes effective September 15 that allow holders of current residence permits (known as “iqamas”) with a valid entry/exit visa as well as holders of a valid business or visit visa to enter (including exit and re-enter) Saudi Arabia, according to an advisory provided to SUSTG.
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Saudi Electricity Co. Sells $1.3 Billion of Green Sukuk
Saudi Electricity Co. sold the first green bond in Saudi Arabia in what amounts to the “latest milestone in the expansion of environment-friendly debt instruments,” according to a report in Bloomberg.
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Report: Saudi Binladen Group Seeks to Accelerate Corporate-Debt Revamp
Troubled construction giant Saudi Binladin Group (SBG) plans to hire additional advisers “to accelerate one of the Middle East’s biggest corporate-debt revamps and tackle its estimated $15 billion debt pile,” Bloomberg reports.
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Report: Saudi Aramco Slows Diversification Plans Amid Lower Oil Prices, Dividend Pledge
Saudi Arabia’s state oil company Saudi Aramco is reviewing its diversification and investment plans domestically and internationally as lower oil prices and delivering on a promised dividend have put pressure on the company, according to an exclusive Wall Street Journal report.
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Report: Saudi Arabia’s Government Revenue in 2Q 2020 Down by 49% Year-on-Year, but Diversification Push Continues Apace
The twin crises of the Coronavirus and Saudi-led efforts to stabilize the price of oil in the second quarter of this year lead to a sharp decline in the Kingdom’s government revenues, Bloomberg reports. Saudi Arabia’s government revenue dropped by 49% in the second quarter from the same period last year, according to Bloomberg, as the […]
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Saudi Arabia’s Ministry of Investment, U.S. Chamber Host Giga Projects Webinar
Saudi Arabia’s Ministry of Investment (MISA) and the U.S. Chamber of Commerce hosted an online webinar on Wednesday to explore and discuss the range of giga-projects available for investment in the Kingdom.
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MUST-READS
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Turkey elections: Why did Kilicdaroglu lose?
I acknowledge that Erdogan enjoyed certain incumbent advantages, and the playing field was far from level, with the Turkish president utilising state resources to entice voters with the prospect of free household gas, salary increases, tax cuts and affordable loans. He also resorted to a campaign that targeted minorities like the LGBTQ community and disseminated doctored images linking Kilicdaroglu to terrorists. Nonetheless, Kilicdaroglu made some major blunders along the way.
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How is Jordan’s future princess Rajwa Al Saif related to Saudi royalty?
Rajwa Al Saif is the daughter of Saudi businessman Khalid Al Saif and Azza Al Sudairi. Through her mother, she can trace her roots back to one of the most influential women in the kingdom's history, Hussa bint Ahmed Al Sudairi, known as the "mother of kings". Hussa bint Ahmed (1900-1969) is Rajwa Al Saif's great-grand-aunt and was the seventh wife of the founder of the Kingdom of Saudi Arabia, King Abdulaziz.
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Looking for a job in Saudi Arabia? This sector is in top demand
Saudi Arabia is in the midst of a major economic transformation. Local media reported that the tourism department of the Kingdom has observed a spike in demand for top talents from around the world. The reform is part of the country’s Vision 2030, the National Transformation Plan; which aims to diversify the economy away from its major dependence on the oil sector.
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Shamkhani Resignation: More About Iran’s Domestic Than Foreign Policy?
Ali Shamkhani, the secretary of Iran’s Supreme National Security Council for the past decade, left his position on May 22, 2023, and was replaced by Ali Akbar Ahmadian, a senior figure in the Islamic Revolutionary Guards Corps (IRGC) and a comrade of the late Quds Force commander Gen. Qasem Soleimani.
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Who Is Iran’s New Supreme National Security Council Secretary?
The SNSC is composed of the heads of the executive, legislative, and judicial branches of the government; the chief of staff of Iran’s armed forces; the head of the Plan and Budget Organization; two representatives appointed by the supreme leader; the ministers of foreign affairs, interior, and intelligence; and the heads of the army and the IRGC; plus any minister whose portfolio is subjected to debate in the council.
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Commentary: Is Saudi-Israeli Normalization on the Horizon or Merely Speculative Media Hype?
“If you read the Jeddah communique and saw the space, the number of words and the placement of ‘Palestine’ and ‘Jerusalem’ in that statement issued in Saudi, what the Saudis are suggesting and what they want, then the claims of near normalization are generally untrue,” he told The Media Line. “Maybe there are attempts, but there is clearly no way that the Saudis—who came up with the Arab peace plan which was again reiterated in Jeddah and which calls for no normalization without withdrawal—you would realize that Saudis would not have reiterated support for it if they had any plans to violate it.”
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Can oil money and fancy shopping malls finally unite Libya?
Libya has been split into two since 2014, with opposing governments located in the east and west of the country respectively. A United Nations-backed administration known as the Government of National Unity is based in Tripoli in the west, and its rival, known as the House of Representatives, is based in the east, in Tobruk. Each is supported by a number of local militias and foreign powers, and each has tried to wrest control from the other. However, after several years of fighting and instability, the violence has largely subsided and most recently, it is the country's economic prognosis that has been getting all the attention.
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Commentary: Is Saudi-Israeli Normalization on the Horizon or Merely Speculative Media Hype?
“If you read the Jeddah communique and saw the space, the number of words and the placement of ‘Palestine’ and ‘Jerusalem’ in that statement issued in Saudi, what the Saudis are suggesting and what they want, then the claims of near normalization are generally untrue,” he told The Media Line. “Maybe there are attempts, but there is clearly no way that the Saudis—who came up with the Arab peace plan which was again reiterated in Jeddah and which calls for no normalization without withdrawal—you would realize that Saudis would not have reiterated support for it if they had any plans to violate it.”
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How would a US debt default affect the Middle East?
Saudi Arabia, the UAE, Bahrain, Iraq, Oman, Kuwait and Qatar all hold significant sums in US treasuries and would see massive contractions in their financial markets. Others with large debt finance, such as Egypt and Lebanon, would also be hit hard. The US also plays a critical role in the geographic distribution of assets in the sovereign wealth fund portfolios of oil- and gas-producing countries in the Middle East, according to experts. So, if the stock prices of publicly listed US companies or the values of other assets plunge, these regional sovereign wealth funds will feel the pain.
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Commentary: Saudi’s MBS Plays Diplomatic Balancing Act, But Can He Pull It Off?
While the Saudi media describe his behavior as the creation of a new Arab order, MBS the flag bearer of the beginning of a new chapter in the region and the man to see an end to its conflicts, others see his position between democracies and dictatorships as a major gamble.
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