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Saudi Aramco Chief Executive Warns on Oil Supply
The chief executive officer of Saudi Aramco, the world's biggest oil producer, said Monday that worries such as rising oil-sector costs and global turmoil could lead to a lack of oil supplies down the line, if oil companies fail to make sufficient investments.
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A Nice Tall Glass of Camel’s Milk
Two years ago, a University of Southern California student named Walid Abdul-Wahab was visiting his native Saudi Arabia during the holy month of Ramadan when he noticed that everyone seemed to be drinking raw camel’s milk. The beverage is considered to be a favorite of the Prophet Muhammad's, according to Wahab, and during Ramadan, many Muslims try to walk in the Prophet’s footsteps. They might not have many other options: Because of refrigeration issues, the only cow’s milk he could find there was powdered.
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Saudi’s Labour Ministry Says Needs $4bn Per Year For Reforms
The Kingdom has been struggling to bring down the unemployment rate among nationals – estimated at around 11.4 per cent, with economists saying that just 30 to 40 per cent of the working age adults participate in the workforce.
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Housing: ‘Many frustrated home-seekers on the edge’
The shortage of housing ranks high among the list of many other concerns. A rising gap between what is available on the market and what most Saudis can afford has left many frustrated home-seekers on the edge. A shortage of low- and middle-income targeted housing means millions of Saudis cannot afford to buy a home. Young Saudis are especially affected since it takes years of saving before many can afford to buy a home, often a precursor to marriage.
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Saudi food firm bets on French bread to make the dough
Saudi Arabian firm, Bateel, hopes that by providing an international flavor to their offerings they will be able to further entice customers to their branded stores and cafes across the Middle East.
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As Millions Of People Fast For Ramadan, Does The Economy Suffer? : NPR
New research examines the effects of Ramadan, the Muslim holy month during which millions of people around the world go without food all day. Does religious practice affect economic growth?
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Sales of black market oil surge in Middle East
Crude oil sales through non-governmental channels are a rising trend in the Middle East, with Islamic State of Iraq and Syria (ISIS) radical fighters and Iraqi Kurdistan getting in on the action, experts say.
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Saudi oil reserves to rise to 273 billion bbls by 2017
Business Monitor International has released a new report, ‘Saudi Arabia Oil & Gas Report Q3 2014’, in which it indicates the view that crude production in the country will remain elevated by historical standards in 2014 and 2014.
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US State Department Approves New Hellfire Sale to Iraq
The US State Department has approved two new lots of weapon sales to Iraq at a time when that government is desperately trying to fight off the encroachment of the militant Sunni Islamic State. The larger agreement would procure 5,000 AGM-114K/N/R Hellfire missiles for the Iraqi military for $700 million. Lockheed Martin is the principal contractor on the agreement.
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Syrian death toll and extremist threat increases, but the U.S. does little
It’s not easy at this late stage for the United States to intervene in Syria or Iraq in a way that would be constructive. But if one principle seems obvious, it is that moderate forces willing to fight the Islamic State should be aided — and quickly. Foremost among these are Syria’s secular rebels. The independent militia of Iraqi Kurdistan, which faces the Islamic State along a 900-mile front, is another clear candidate. Mr. Obama’s decision to stand back from Syria and Iraq has done much to create the present threat to the United States. Continued passivity will only make it worse.
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