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Opinion: New Iraqi-Kurdish Agreement Bolsters National Unity
Iraq’s chances of remaining a unitary state increased significantly with the signing of a new oil and budget agreement between the Baghdad government and the Kurds. Building on a partial deal reached last month that permitted the Kurds to legally sell 150,000 barrels of oil a day through a pipeline to Turkey, the new agreement will allow the Kurdistan Regional Government (KRG) to sell 550,000 barrels of oil a day, including 300,000 from the disputed Kirkuk region. The KRG and the central Iraqi government will split the revenue.
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Opinion: Saudi Arabia Has a Shiite Problem
To be sure, since the 1990s, the Saudi government has made some relative progress in terms of infrastructural development of the Eastern Province, where Shiite villages and towns have historically lagged behind their Sunni neighbors in terms of government funding. allowed some degree of religious freedom for the exercise of Shiite rituals and practices. Perhaps one positive byproduct of the killings in recent months has been rare expressions of cross-sectarian unity by influential Sunni clerics, senior Saudi officials, and editorialists. Someobservers have gone so far as to predict that the tragedy marks a turning point, ushering in a new era of Sunni-Shiite harmony in the kingdom.
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Stock News: Most Gulf Markets Fall; Blue Chips Lift Saudi
Most Middle East bourses slipped in early trade on Wednesday as oil market turbulence kept equity investors cautious, although blue chips lifted Saudi Arabia’s index. Brent hit a high of $71.46 a barrel on Wednesday before giving up some gains and moving close to $71. Saudi Arabia’s index rose 0.2 per cent. Petrochemicals giant Saudi Basic Industries (SABIC) and Al Rajhi Bank were the main supports, climbing 1.2 and one per cent respectively.
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Netanyahu Israel elections: Prime minister wants new government.
Unhappy with the state of his current ruling coalition, Benjamin Netanyahu has called for new Israeli national elections in which he could be—though is not expected to be—unseated as prime minister.
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More than $67 billion of investment for Saudi Arabia’s economic cities
The objective of the economic cities is to grow the national economy and raise the standard of living for Saudis through enhancing the competitiveness of the economy, creating new jobs, improving Saudis' skill levels, developing regions and diversifying the economy. Each city is being developed by the private sector around at least one globally competitive cluster or industry, which will serve as an anchor and a growth engineer for the city, around which other businesses will locate.
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Opinion: Good, Bad and Ugly of Lower Oil Prices
Roiled by sanctions, a collapsing currency and large capital flight, Russia now faces the effects of a sharp fall in oil revenue. Companies pushed to the brink may be looking for government support at a time when the authorities’ ability to respond is curtailed by the decrease in their own revenues. The effect will be to strengthen the winds of recession, inflation and financial instability in Russia.
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Iraq Government and Kurds Reach Deal on Oil Revenue and ISIS Fight
In a far-reaching deal with the potential to unite Iraq in the face of a Sunni insurgency, the government of Prime Minister Haider al-Abadi agreed on Tuesday to a long-term pact with the autonomous Kurdish region over how to divide the country’s oil wealth and cooperate on fighting the extremists of the Islamic State.
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Determinants of a new Saudi oil policy
The kingdom holds about 25 percent of the world's oil reserves, 85 percent of global spare production capacity, and is the world's largest crude exporter by far. Through a series of strategic assessments over the past year, the Saudis determined that their best mid- to long-term objective is to sustain market share by allowing the price of oil to drop to a level that better reflects the realities of the global markets. Further, they will be able to operate in an environment over the next three to five years that could see prices fall as low as $60 per barrel.
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AQAP claims IED attacks on US Embassy in Sanaa
On Nov. 28, a Twitter account linked to al Qaeda in the Arabian Peninsula (AQAP) claimed credit for bombing the US Embassy in the Yemeni capital Sanaa during the evening of Nov. 27, coinciding with Thanksgiving, using two improvised explosive devices (IEDs). The last time AQAP has claimed credit for directly targeting the US Embassy in Sanaa was in late September, after fighters from the terrorist group launched rockets that reportedly fell about 100 meters away from the embassy.
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A highway through hell for the truckers who haul vital goods into Islamic State territory
It might be the most hairy truck route in the world — a nail-biting, long-haul, “Mad Max”-style endurance race from the Jordan border through the black heart of Islamic State territory.
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