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Energy efficiency in Saudi Arabia
In 2012, SEEC in conjunction with ministries, regulatory authorities and major companies launched the Saudi Energy Efficiency Program (SEEP). SEEP is purely focused on demand side management and its remit does not include the issue of price reforms. The subject of energy prices, which are heavily subsidized to consumers, is highly sensitive in the Middle East. In 2012 there was civil unrest when the Jordanian government changed the subsidy regime on fuel and there is no doubt that all Middle Eastern governments are very conscious of the social impacts of changing energy subsidies – especially at this time of instability in the region.
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Joint ventures in Saudi Arabia: What counsel should know
Saudi Arabia offers business opportunities on a scale found in few other jurisdictions, including the development of the world’s tallest building, a $22.5 billion Riyadh metro rail project, and a 2014 national budget that includes the construction of 465 new schools. With all of these opportunities, Saudi Arabia has become an ideal target market for many foreign businesses. However, before entering into a joint venture or other strategic corporate alliance (JV) in Saudi Arabia, there are a number of considerations to keep in mind that will affect your ability to establish, develop and maintain a profitable business.
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In West Bank, Palestinians gird for settler attacks on olive trees
More than 80,000 Palestinian farmers derive a substantial portion of their annual income from olives. Harvesting the fruit, pressing the oil, selling and sharing the produce is a ritual of life. Now, so is losing trees. Last year, the United Nations reported that Israeli settlers damaged or destroyed nearly 11,000 olive trees and saplings owned by Palestinians in the occupied West Bank. The trees were burned, toppled by bulldozers, felled with chain saws.
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When the Petrodollars Run Out
Twenty countries depend on petroleum for at least half of their government revenue, and another 10 are between half and a quarter. These countries are clearly vulnerable to big changes in the price and quantity of oil and gas that they might sell. But which ones would have the hardest time coping?
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Saudi student killed in ‘accident’ in US
A Saudi student at Tennessee Tech University was killed when he was run over by his friend in the US city of Coalfield, Tennessee, Al-Hayat newspaper reported.
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Saudi launches campaign to vaccinate primary school students
The campaign will include government, private, international and community schools all over the Kingdom.
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Middle Easterners See Religious and Ethnic Hatred as Top Global Threat
With growing conflicts engulfing the Middle East, people in the region name religious and ethnic hatred most frequently as the greatest threat to the world. Moreover, publics across the globe see the threat of religious and ethnic violence as a growing threat to the world’s future. But in Europe, concerns about inequality trump all other dangers and the gap between the rich and the poor is increasingly considered the world’s top problem by people living in advanced economies, including the United States.
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Saudi ‘mother of all IPOs’ runs into Shariah storm
"NCB's IPO is the mother of all IPOs", John Sfakianakis, Regional Director at Ashmore Group, told CNBC. "It's significant for the banking sector because it's the only bank of systemic significance that is going to be publicly traded and enhances transparency and governance".
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The Black-Market Battleground
At a time when the Islamic State, also known as ISIS and ISIL, and other groups are killing, enslaving, and displacing thousands of people across Syria and Iraq, what happens to ancient artifacts may seem like a sideshow. But according to Danti, who is also a professor at Boston University, ISIS's profits from looting are second only to the revenue the group derives from illicit oil sales. ISIS's profits from looting are second only to the revenue the group derives from illicit oil sales. So understanding the Islamic State's approach to the fate of ancient artifacts actually could be key to stopping its advance.
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Saudi’s NCB Pledges Conversion To Islamic Bank After Pressure From Scholars
State-owned National Commercial Bank (NCB), which has about $116 billion of assets, currently has a mixed business – most of it conforms to Islamic principles such as bans on interest payments and pure monetary speculation, but some of it involves conventional banking. Some other banks in Saudi Arabia are also mixed.
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