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  • Hezbollah says it is ready for any Israeli land invasion in Lebanon

    Hezbollah fighters are ready to confront any Israeli ground invasion of Lebanon, the group's, deputy leader Naim Qassem said on Monday in his first public address since Israel killed its chief Hassan Nasrallah last week. Israel will not achieve its goals, he said. "We will face any possibility and we are ready if the Israelis decide to enter by land and the resistance forces are ready for a ground engagement," he said in an address from an undisclosed location.

  • Saudi Arabia secures funds for 5.5GW solar projects

    The developers of solar power projects worth SAR12 billion ($3.2 billion) with a combined output of 5.5 gigawatts (GW) in Saudi Arabia have secured financing for their projects. Saudi-listed Acwa Power, Water and Electricity Holding Co (Badeel), a Public Investment Fund (PIF)-owned company, and Saudi Aramco Power Co (Sapco), a wholly-owned subsidiary of energy major Aramco, have reached financial close for the Haden, Muwayh and Al Khushaybi projects.

  • Iran condemns killing of Nasrallah, but avoids vow of revenge

    Israel’s assassination of Hezbollah chief Hassan Nasrallah has been widely condemned in Iran. Supreme Leader Ayatollah Ali Khamenei has charged that the ‘Axis of Resistance’ will intensify attacks on Israel, but stopped short of vowing any direct revenge by the Islamic Republic. This comes as some Iranians are calling for a review of nuclear policy, arguing that a nuclear deterrent is necessary to stave off an attack by Israel.

  • Social media influencers go dark on TikTok after promoting futuristic Saudi megacity

    At least five influencers who had been posting videos from Neom, the multiyear project launched by Crown Prince Mohammed bin Salman to build a high-tech megacity, have either closed their social media accounts or gone private after one video faced a wave of mockery on social media. A handful of smaller accounts within this small community of Neom-based content creators remain active, with their videos still viewable.

  • Saudi Arabia urges G20 nations to address Israel’s violations and support Palestinian statehood

    Saudi Arabia has called on G20 countries to intensify joint efforts to address the international community's failure in confronting Israel’s serious violations of international laws and norms. The Kingdom emphasized the need for a ceasefire and a path toward the establishment of an independent Palestinian state. Saudi Foreign Minister Prince Faisal bin Farhan made the remarks on Wednesday during the second meeting of the G20 Foreign Ministers, chaired by Brazil, on the sidelines of the 79th session of the United Nations General Assembly in New York.

  • Pakistan wins more financing assurances from China, UAE, Saudi IMF official says

    Pakistan has received "significant financing assurances" from China, Saudi Arabia and the United Arab Emirates linked to a new International Monetary Fund program that go beyond a deal to roll over $12 billion in bilateral loans owed to them by Islamabad, an IMF official said on Thursday. IMF Pakistan Mission Chief Nathan Porter declined to provide details of additional financing amounts committed by the three countries but said they would come on top of the debt rollover.

  • Raytheon Delivers Saudi Arabia’s First AN/TPY-2 Air Defense Radar

    Raytheon has delivered the first AN/TPY-2 air defense radar for Saudi Arabia as part of a $2.3-billion deal signed in 2020. According to the company, the radar is the first in its class to feature a complete Gallium Nitride semiconductor, providing expanded surveillance capacity and greater sensitivity to threats. It offers several key advantages over other radio frequency semiconductors in terms of energy efficiency, weight, and power output.

  • Commentary: In the Gulf as in the US, crises can remove barriers to long-term investment

    The near doubling of US crude oil production to 9.5 million barrels per day from 2010 to 2015 rocked global oil markets. Oil prices were around $140 a barrel in mid-2014, but the surge in supply caused prices to crash to $40. For the Gulf countries, this was an unmitigated disaster, as so much of their economy — and with it their sociopolitical system — depended on high and stable oil prices.

  • S&P Global expects Saudi economy to grow by 1.4% in 2024

    S&P Global Ratings expects the Saudi economy to grow by 1.4% in 2024, compared to its previous forecast of 1.5%. The agency also forecast the economy to expand by 5.3% in 2025, versus earlier estimates of 5.4%. It expects inflation to reach 1.8% in 2024, compared to a previous estimate of 2.1%. In 2025, inflation is expected at 1.6%, down from 2%.

  • Oil price fall pushes Saudi Arabia to look at raising output

    Ole Hansen, head of commodities strategy at Saxo Bank, said the move represented “a major shift in thinking” by Riyadh. “The outlook for slowing demand growth, not least in China, has probably prompted them to accept a lower price tag for crude and, with that, the need to increase production,” he said.