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Saudis Make Aggressive Oil Push in Europe
Days after slashing prices in Asia, Saudi Arabia is now making an aggressive push in the European oil market, traders say. The kingdom is taking the unusual step of asking buyers to commit to maximum shipments if they want to get its crude. “The Saudi push is not just in Asia. It’s a global phenomenon,” one oil trader said. “They are using very aggressive tactics” in Europe too, the trader added.
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Interview: Oil prices headed lower despite Saudi curbs
World oil prices are set to fall further, extending a months-long rout because Saudi Arabia is unlikely to make deep enough production cuts to erase a growing surplus, according to Gary Ross, chief executive of PIRA Energy Group.
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Opinion: Development of competent Saudi sportswomen will not happen by itself
The development of competent sportswomen will not happen by itself. It is an evolving process which is primarily initiated by the government’s recognition of the participation of women in sports, in addition to raising awareness about the importance of sports as a human development among the sporting committees in the Kingdom. Most especially, there is an essential need for a basic willingness to empower women in the country.
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Hajj 2014: For Saudi Arabia, The Muslim Pilgrimage Is Big Business
In addition to being a sacred Muslim tradition -- and perhaps in spite of Islam’s mandate for simplicity, especially during the pilgrimage -- the modern-day Hajj has turned into big business. Saudi Arabia has undertaken an effort in recent years to build more luxury hotels and services catering to the Muslim faithful who flock to Mecca each year, and as a result, many pilgrims are spending more than ever before.
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Suspected US Drone Strikes Kill 10 in Pakistan
Two suspected U.S. drone strikes on Taliban compounds in a Pakistani tribal region bordering Afghanistan on Tuesday killed at least 10 militants, officials said. The missiles strikes were just hours apart in the North Waziristan tribal region close to the Afghan border bring the number of such strikes to three within 24 hours.
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Syria declares new chemical weapons facilities
Correspondents say the announcement heightens concerns that the Syrian government has not been fully open about its chemical weapons program.
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Saudi Arabia’s Vela Marine transfers 10th VLCC to Bahri for $86m
The transfer of the crude carriers, which were all renamed, is part of the planned merger of Vela’s fleet and operations with Bahri that was announced in the first half of the year. Bahri would shell out SR4.88bn for the whole deal through a combination of cash (SR3.12bn) and equity payment.
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Lebanon to get Russian helicopters, air defense: report
Lebanon is considering using a Saudi grant to buy much needed weapons and equipment from Moscow to bolster its Army amid a jihadist threat, Interior Minister Nouhad Machnouk has said. “There are talks on buying Russian arms and special equipment by Lebanon,” the World Tribune quoted Machnouk as saying during his visit to Moscow in late September to discuss weapons supplies to Lebanon’s Internal Security Forces.
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Baker and McKenzie ups its bet on Saudi Arabia with second office
Baker & McKenzie and its Saudi Arabian association Legal Advisors, Abdulaziz I Al-Ajlan & Partners, are set to open a second office in Saudi Arabia with a launch in the country’s commercial centre Jeddah.
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Muslims gather at Mount Arafat for major day of annual hajj pilgrimage in Saudi Arabia
It was at Mount Arafat some 1,400 years ago that the Prophet Muhammad is believed to have delivered his last sermon during hajj. He called for equality and for Muslims to unite. He reminded his followers of women's rights and that every Muslim life and property is sacred.
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