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Shares in Saudi Arabia, OPEC’s biggest producer, dropped to the lowest level in eight months after oil entered its ninth week of decline.
Iraq's former defense minister, Abdul Qader Obeidi, says the Iraqi army needs at least a year and a lot of U.S. help to take on the Islamic Stat
Islamic State leader Abu Bakr al-Baghdadi called for attacks against the rulers of Saudi Arabia in a speech purported to be in his name on Thursday, saying his self-declared caliphate was expanding there and in four other Arab countries. Baghdadi also said a U.S.-led military campaign against his group in Syria and Iraq was failing and he called for "volcanoes of jihad" the world over. Reuters could not independently confirm the authenticity of the speech - an audio recording carried on Islamic State-run social media. The voice sounded similar to a previous speech delivered by Baghdadi in July in a mosque in the Iraqi city of Mosul, the last time he spoke in public.
As oil prices drop, oil exporting countries look for ways to curb their spending policies. CNN's John Defterios report.
The Marines’ departure from Leatherneck — the largest base closure to date of the United States’ longest war — offers a detailed look at the decisions U.S. military leaders are making as coalition forces withdraw from Afghanistan. Mindful of Afghan forces’ limitations — and seething over the Islamic State’s seizure of former American military compounds and equipment in Iraq — the forces departing Afghanistan appear to be stripping bases to the basics.
There has always been a close link between US oil production, international prices and OPEC, so it should come as no surprise that North America’s shale drillers find themselves locked in a battle with Saudi Arabia over prices and market share.
A Saudi real estate company has sued Barclays for $10 billion, claiming the bank ceased pursuing lease payments due from the Saudi government on military complexes in the kingdom in order to obtain a lucrative banking license there.
The analysis points to the main obstacle to diversification lying elsewhere: Education, skills, and jobs. The perception about the quality of education is much poorer than that of infrastructure: the GCC average ranking is 53 for education versus 29 for infrastructure. "In our view, the poorer quality of education leads to underutilized skills potential and a lack of innovation in the economy, which is reflected in the relatively low number of patents registered that originate in the GCC," said Standard & Poor's in the report.
The state news network showed images Tuesday of jubilant soldiers and allied masked militiamen atop columns of Humvees and tanks reported to be going through central Baiji, about 125 miles north of Baghdad, the capital. Islamic State, however, insisted in a statement on a number of militant and Islamic forums that Baiji remained in militants' hands and that the "battle is ongoing."
The Labor Ministry is considering to fix the minimum wage for Saudis in the private sector at SR5,300 ($1412) and for expatriates at SR2,500 ($666).
