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Dhahran is a 22.5 square-mile gated compound built for the American expatriate workers of Aramco, the biggest oil company in the world. Now owned by the Saudi state, Aramco was originally founded in 1933 as a U.S.-Saudi joint venture.
Most of the GCC region’s private wealth (74 per cent) is controlled by affluent individuals in Saudi Arabia and the UAE, according to a new study by Strategy&, formerly Booz & Company. The study estimated that there are nearly 1.6 million wealthy households in the GCC, with total investable assets worth $2.2 trillion. Out of these, around 44 per cent of wealth resided in Saudi Arabia while 30 per cent resided in the UAE, as of 2013.
Middle Eastern petrochemical plants, which use natural gas, are becoming less competitive than plants that use oil after crude prices declined, Sharma said. Chemical prices are also falling because of lower oil prices, he said. Sadara will be the first plant in the Middle East to use naphtha, a refined oil product, Al Hamid said.
One major trend in the market is the implementation of e-government services to enhance the public experience. E-government initiatives help to increase operational efficiency and accelerate growth.
Saudi Arabia will host a high-powered meeting of the defense chiefs of the anti-Islamic State coalition here on Wednesday. The meeting, to be attended by military chiefs, group commanders and chiefs of staff from the 22 countries in the US-led coalition, will discuss ways and means to combat the IS, possibly deploy troops and expand attacks on IS targets across the region.
China remains cautious about the Middle East even as an energy source. West Asia and North Africa have received much less Chinese investment than their energy resources would justify. The relatively low level of Chinese commitment is, in part, a reflection of the fact that national oil companies like Saudi Aramco (from which China buys a fifth of all the oil it imports) have no need of foreign partners and offer them no significant openings to invest except in refineries dedicated to importing their oil. Africa and South America have proven both more hospitable and easier for Chinese companies to understand. But China’s attention deficit when it comes to the Middle East also reflects misgivings about the region.
The biggest challenges for Western energy drink manufacturers are coping with marketing bans, and ensuring ingredients are halal, Sherif added.
The shield between 400 American trainers and IS forces is composed of Iraqi police and troops, both with an iffy track record against determined IS assaults. The fall of the nearby town of al-Baghdadi and a direct IS assault on al-Asad late last week were hardly surprising given the isolation of these somewhat weakly held locales.
Nor does the answer lie in the realm of faith. Many volunteers for terrorist groups have little knowledge of religion. Indeed, their lack of religious knowledge makes them easy prey for recruiters who don the mantle of religious authority. The two British Muslims who bought “Islam for Dummies” before heading to Syria are more the rule than the exception.
An initial report Sunday by Israel’s Channel 2 news that the administration had cut all communications with Israel about the Iran talks was denied by White House spokesman Alistair Baskey. Sources here said that Philip Gordon, the Middle East director for President Obama’s National Security Council, would see Israeli national security adviser Yossi Cohen and other senior officials on Monday. The discussion would include Iran policy, but U.S. officials aren’t likely to share the latest information about U.S. strategy in the talks.
