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Saudi Aramco in Talks with BlackRock, Others for $10 Billion Pipeline Deal
Saudi Aramco is in talks with U.S.-based global investment management corporation BlackRock and other investors on a planned deal worth over $10 billion to sell a stake in its pipeline business, sources told Reuters, although the deal is still in early stages.
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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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King Salman Issues Rare Royal Decree Firing Tourism Officials over Corruption Allegations – SPA
Saudi Arabia’s King Salman has issued a rare royal decree firing a number of officials for legal violations and alleged corruption at tourism projects, including the Red Sea Project and Al-Ula, state news agency SPA reported.
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Saudi Arabia’s King Salman Arrives in NEOM for Vacation, Recovery Period
Saudi Arabia’s King Salman bin Abdulaziz traveled to NEOM in the Kingdom’s northwest on Wednesday for a period of rest and relaxation, according to state news agency SPA and Reuters.
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Saudi Arabia’s Schools, Universities Eye August 30th for Restart of Educational Programs
Saudi Arabia is beginning to plan to reopen its schools and universities with a target date of August 30th, according to reports. The Kingdom closed schools and universities on March 9 after the Coronavirus pandemic was detected in Saudi Arabia and countries worldwide began to shutter to stop the spread of the deadly disease.
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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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For Global Oil Demand, ‘The Worst Seems to be Over’
According to latest OPEC forecasts, “the worst seems to be over with respect to global oil demand” as expectations of a rebound for the second half of this year and a positive forecast for 2021 brighten outlooks, a recent report from Riyadh-based Jadwa Investment says.
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U.S. Corporation Air Products and Chemicals, NEOM, and ACWA Power Sign Accord for $5b Renewable Energy-Powered Ammonia Plant
U.S. corporation Air Products and Chemicals signed an accord with Saudi-based ACWA Power International and the kingdom’s planned futuristic city of NEOM to develop a $5 billion hydrogen-based ammonia plant powered by renewable energy, according to reports.
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KAUST Studies How Saudi Arabia’s Red Sea’s Coral Reefs Help Protect the Kingdom’s Coastline
Modeling done by Saudi Arabia’s King Abdullah University for Science and Technology (KAUST) reveals the important role of offshore reefs in the Red Sea in protecting the Kingdom’s coastal zones and highlights the need to conserve the region’s coral reefs.
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Easing of Lockdown in Saudi Arabia Beginning to Show in Economic Data, Jadwa Report says
The partial easing of lockdown restrictions in May was reflected in some economic indicators during the month, Jadwa Investment reports in its latest economic chartbook for that month.
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GCC-Iran engagement heats up as regional war looms
In the shadow of a potential major escalation between Iran and Israel, Bahrain has hosted an Iranian chief diplomat for the first time in 17 years. Meanwhile, in another first—and amid tension over three disputed islands—Sheikh Mohammed bin Zayed Al Nahyan (MbZ) of the United Arab Emirates (UAE) has met his Iranian counterpart. The session notably took place even as Abu Dhabi was not among regional capitals recently toured by Iran’s chief diplomat. Speaking on condition of anonymity, informed Iranian political sources told Amwaj.media that the lack of a visit to the UAE was deliberate and triggered by the territorial dispute.
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Saudi broadcaster in Iraqi crosshairs over sniping at ‘heroes of the resistance’
A diplomatic and security crisis has erupted in Iraq over a Saudi TV channel’s description of slain leaders of Iran-backed armed groups as “terrorists.” Only hours after the report, protesters reportedly aligned with the targeted groups sacked the Baghdad office of Saudi media conglomerate MBC. Given the growing scale of the controversy, Iraqi authorities are moving to cancel the channel’s operating license—eliciting a range of heated reactions. Featuring Saudi journalist Mohammed Al-Mishari, the MBC segment likened assassinated leaders of Iran-backed groups to former Al-Qaeda head Osama bin Laden (1957–2011).
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Democrats call for special counsel probe into Kushner over Saudi ties
Senior Democrats in the House and Senate are calling on the Justice Department to investigate former President Trump’s son-in-law and senior adviser in the White House, Jared Kushner, over possible violations related to lobbying for a foreign government. The lawmakers describe Kushner as acting as a “Shadow Diplomat” and political adviser to Saudi Arabia’s Crown Prince Mohammed bin Salman Al Saud, in exchange for at least $87 million paid out to Kushner’s investment firm, Affinity Partners.
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Kingdom of Saudi Arabia – TOW 2A & TOW 2B Missiles
The State Department has made a determination approving a possible Foreign Military Sale to the Kingdom of Saudi Arabia of TOW 2A tube-launched, optically-tracked, wireless-guided, radio frequency missiles (BGM-71E-4B-RF), TOW 2B tube-launched, optically-tracked, wireless-guided, radio frequency missiles (BGM-71F-3-RF), and support and related elements of logistics and program support for an estimated cost of $440 million. The Defense Security Cooperation Agency delivered the required certification notifying Congress of this possible sale today.
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Global financiers head to Riyadh investment bash in shadow of war
Global financiers are poised to flock to Saudi Arabia's annual flagship investment conference next week as a tightening of the kingdom's purse strings and a deepening of regional conflict cloud the outlook. Among those expected to descend on the Future Investment Initiative (FII) in Riyadh are top CEOs, including Goldman Sachs' David Solomon, BlackRock's Larry Fink, Citigroup's Jane Fraser and the London Stock Exchange's Julia Hoggett.
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Israeli strike kills journalists in Lebanon, Blinken sees urgent need for resolution
An Israeli strike killed three journalists in south Lebanon on Friday, Lebanon's health ministry said, and the UN refugee agency warned that Israeli airstrikes on a border crossing with Syria were hindering refugees attempting to flee the war. U.S. Secretary of State Antony Blinken said there was an urgency to get a diplomatic resolution to the conflict, a day after he said Washington did not want to see a protracted campaign in Lebanon by its ally Israel.
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Women camel jockeys race in Saudi Arabia, breaking a social barrier
Welcome to the Crown Prince Camel Festival, an event that has been dubbed the Grand Prix of camel racing, where camels race some 250 laps for prizes worth US$13 million. This camel festival, held in honour of Saudi Arabia’s Crown Prince Mohammed bin Salman, is now in its sixth year and is on par with the richest horse races worldwide. It has come to be recognised as a serious international sport and a great tourist attraction in several Middle Eastern countries. This year, some 21,000 camels are taking part.
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Is Israel carrying out de facto ethnic cleansing?
“What we have learned this year is that everything is in our hands,” Ben Gvir said, before identifying what he considered the major legacy of militant group Hamas’s terrorist strike on southern Israel more than a year ago. “We are the owners of this land. Yes, we experienced a terrible catastrophe on October 7. But what we need to understand, one year later, is that so many Israelis have changed their thinking. They have changed their mindset. They understand that when Israel acts like the rightful owners of this land, this is what brings results.”
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Saudi Prince’s Beach Party Looks to Show Neom Dream Is Real
An exclusive group of financiers, entertainers and influencers from around the world will this week descend upon Sindalah Island, the first project to open its doors at the planned city of Neom. The resort is now home to ultra-luxury hotels and unspoilt beaches, plus an 86-berth marina where the uber rich can dock their yachts and dive into the crystal clear waters of the Red Sea.
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Israeli strike kills Lebanese troops as France rallies support for army
An Israeli strike killed three Lebanese troops in south Lebanon on Thursday as France hosted a conference to rally support for Lebanese state forces which are seen as vital to any diplomatic resolution of the war between Israel and Hezbollah. The Lebanese soldiers were killed as they were evacuating wounded people on the outskirts of southern village of Yater, the Lebanese army said. They were killed at around 4:15 a.m. (0115 GMT), a security source said. There was no immediate comment on the strike from the Israeli military, which has previously said it is not operating against the Lebanese army.
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