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Lebanese-Israeli border area quiet after concerns of another war erupting
Israel and Lebanon’s powerful Hezbollah militia appeared Thursday to be seeking calm a day after exchanging lethal fire across a fractious frontier that raised concern of another war erupting between the arch-enemies.
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New educational partnership in Saudi Arabia to launch six pilot schools
“The really big step in this project is that Saudi Arabia is investing in Early Intervention services for the first time. All the research indicates that providing services at an early age helps with brain development and skill building. This new Early Intervention pilot project will open the doors for young children with disabilities and their families to get services in Saudi Arabia,” said Valerie Close, co-director of Early Childhood CARES.
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Oil tumbles; U.S. crude prices near six-year low on record stockpiles
Oil slumped on Wednesday, with U.S. crude prices at near six-year lows, after the government reported record-high inventories in the United States that raised anxieties about the global oil glut that had pressured the market since last summer. The U.S. Energy Information Administration (EIA) said domestic crude oil stocks rose by almost 9 million barrels last week to reach nearly 407 million, their highest since the government began keeping records in 1982.
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The precedent has been set: More, bigger IPOs expected in Middle East during 2015
Mohamed Al-Hamadi, a member of the Riyadh Chamber of Commerce, told Asharq Al-Awsat that he expected the Kingdom’s recent push to reduce its reliance on hydrocarbon revenues to encourage more companies in non-oil sectors to seek expansion through IPOs. Non-oil companies dominated the IPO pipeline in 2014. Manufacturing companies proved the most active during the year, with five IPOs from the sector last year in the Saudi and UAE markets, followed by real estate, food and drink, and oil and gas sectors.
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Saudi population put at 30.8m
Saudi Arabia’s population broke the 30-million mark at the end of 2014 to reach 30.8 million at the end of the year, a 2.6 per cent growth over the previous year, official statistics showed on Thursday. The figure includes 20.7 million Saudis and 10.1 million expatriates, mostly Asians and citizens from other Arab countries, showed the figures by the Saudi general statistics and information authority.
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Gulf Countries Pledge Over $39m To Global Vaccine Fund
Saudi Arabia, Oman and Qatar have pledged to contribute over $39 million as aid to Gavi Alliance, a non-profit organisation that supports immunisation in less developed countries. Gavi, which is funded through governments and the Bill & Melinda Gates Foundation, said that the Kingdom pledged around $25 million while Qatar has committed about $10 million.
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Funds turning positive on Saudi Arabia as oil stabilises -survey
Middle East funds are turning positive on Saudi Arabia's stock market because of signs that oil prices are starting to stabilise, the latest Reuters survey of asset managers shows. Many fund managers became bearish on Saudi Arabia in the past few months as the oil price plunge promised to slash the earnings of petrochemical producers, which are heavily weighted in the Saudi market, and triggered panic selling of overvalued shares by local retail investors.
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Returning Syrian Kurds Find Recaptured Kobani in Ruins
On January 27, the U.S. Central Command confirmed that the Kurds now control more than 90 percent of Kobani, though fighting continues on the outskirts. Wednesday, reporters and photographers ventured back into the recaptured city with YPG soldiers, documenting the wreckage left after months of ground battles and airstrikes.
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Michelle Obama headscarf controversy – do Saudis really care?
And significantly, this "backlash" was dwarfed by another tag related to the US President's visit to the kingdom. "King Salman leaves Obama to pray" attracted more than 170,000 messages. Saudis used this slogan to show their warm admiration for new King Salman leaving during the Obamas' visit to pray, as shown in a news report that was widely viewed on YouTube. "This is the man who left the leader of the most important country in the world to pray," a Saudi tweeted.
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Saudi Arabia’s Seamless Succession
Some doubt surrounds the staying power of Crown Prince Muqrin. He is not believed to have any personal constituency: no ministry or military force has been under his command, although he has many years of administrative experience as a governor of two provinces. His designation in the line of succession by King Abdullah in 2014 was something of a surprise because Abdullah had fired him less than two years earlier as head of the kingdom's intelligence directorate, a key security post. It is not known how well Salman will work with him or even whether Salman plans to retain him as crown prince.
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