The “General’s Plan” is being pushed by some members of Prime Minister Benjamin Netanyahu’s far-right government, despite pushback from the Israeli military, human rights groups and the White House. On Sunday, citing international and U.S. law, top Biden administration officials gave Israel a month to reverse course or risk losing American military assistance.
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New Tax Gains Redistributed to Support Saudi Safety Net but Takes Toll on Balance Sheet, Report Says
New tax earnings for Saudi Arabia’s government were offset by expenditures toward programs comprising the Kingdom’s safety net for lower income citizens, according to a Bloomberg report which cited Ministry of Finance figures. The increase in the kingdom’s spending on wages and social benefits during the first quarter “exceeded what it accrued through higher taxes […]
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Oxford Business Group Survey of CEOs finds Confidence high in Saudi Arabia
Executives have welcomed signs that change is afoot in Saudi Arabia, although many are also keen for the pace of economic reforms to be accelerated, a new survey by the Oxford Business Group finds. As part of its second survey on the Kingdom, the global research and consultancy firm asked over 100 C-suite executives from […]
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In Interview, Governor of SAGIA Ibrahim Al-Omar Says New Licenses for Investment and Business Soaring
The head of Saudi Arabia’s top licensing and investment body says that the Kingdom is increasing its new licenses to investors and businessmen seeking to do business in the Kingdom, according to an interview in TheBanker.com. Ibrahim Al-Omar, head of the powerful Saudi Arabian General Investment Authority (SAGIA), told journalist James King in an interview how Saudi […]
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Milestone Achieved in Launch of Saudi Arabia’s National Privatization Program and Center
Saudi Arabia has announced the launch of “Delivery Plan 2020,” a privatization program headed by a newly created office, Saudi Arabia’s National Centre for Privatization (NCP), in a major milestone for the Kingdom as it looks to advance its Vision 2030 economic and social reform goals. The plan sets out the country privatization agenda for […]
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CEDA Approves Privatization Program in Progress for Vision 2030 Implementation
Saudi Arabia’s powerful Council of Economic and Development Affairs (CEDA) approved a Privatization Program that is one of 12 key elements of the Kingdom’s Vision 2030, according to reports. Saudi Arabia aims to generate 35 billion to 40 billion riyals ($9 billion to $11 billion) in non-oil revenues from the privatization program by 2020 and create […]
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Catholic Cardinal meets Saudi king in Historic Visit to Riyadh
Saudi Arabia’s King Salman has met French cardinal Jean-Louis Tauran during the first visit to the Kingdom by such a senior Catholic authority, according to the SPA. The move follows other overtures by Saudi Arabia’s leadership in recent weeks to other faiths, and a visit by Lebanon’s Christian Maronite Patriarch Beshara al-Rai in November. Interfaith dialogue has been […]
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Saudi Aramco Earned $33.8 billion in the first half of 2017, Has ‘Virtually No Debts’, Data Reviewed by Bloomberg Says
A first glimpse at Saudi Aramco’s finances by Bloomberg News reveals the state oil giant made a whopping $33.8 billion in net income in the first half of 2017 and has very little debt, according to a series of stories published by the news site. The figures have previously only been seen by top Saudi leadership and […]
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Saudi Crown Prince Wraps Up U.S. Tour in Houston with Big Gulf Investments Eyed
Crown Prince Mohammed bin Salman wrapped up his unprecedented whirlwind tour of the United States with a stop in Houston to talk investments in the Gulf region. The Crown Prince visited Motiva Enterprises LLC, a wholly-owned downstream oil and gas subsidiary of Saudi Aramco, to witness the signing of MoUs worth between $8 billion to $10 billion with US […]
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Crown Prince Mohammed bin Salman Meets with U.N. Secretary General in New York
Crown Prince Mohammed bin Salman continued his active visit to the United States yesterday, attending a business meeting in New York with over 200 executives, and separately meeting with the Secretary General of the United Nations, Antonio Guterres. 200 top business leaders from the U.S. and Saudi Arabia – including two dozen women – assembled in […]
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Reports: Crown Prince and Delegation to Meet with Tech, Defense, Banking Giants
Two separate reports from Bloomberg confirm that Saudi officials are eying meetings with major banking houses and technology giants during the Crown Prince’s nearly three-week long visit to the United States. The delegation currently visiting the United States will seek to meet with executives from Amazon, Apple, Google, Pfizer and other companies as they hunt for […]
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EU, GCC forge stronger economic ties with focus on sustainable energy, trade
“We agree to continue our dialogue on a regular basis by holding a summit every two years and look forward to the next summit in Saudi Arabia in 2026,” stated the joint statement. Jasem Al-Budaiwi, the GCC secretary-general, noted that the event underscores the shared commitment of both regions to strengthen political and economic partnerships, as well as to advance cooperation in areas such as political coordination, energy, health, education, and cultural exchanges. He also highlighted the robust trade relations between the two blocs, mentioning that trade volume between the GCC and the EU exceeded $204 billion in 2022, accounting for approximately 13 percent of the GCC’s total trade in goods.
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EU backs Arab demands for Iran to end ‘occupation’ of islands
The Gulf Cooperation Council (GCC) and the European Union (EU) have jointly urged Iran to relinquish control of three Persian Gulf islands, which it has held since 1971 following Britain's withdrawal from the region. The joint statement, issued on Wednesday during the first EU-GCC summit in Brussels, urges Iran to end its control of Greater Tunb, Lesser Tunb, and Abu Musa, islands claimed by the United Arab Emirates (UAE) after it gained independence following Britain's withdrawal.
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First European Union-Gulf Cooperation Council Summit – Joint Statement
We, the Heads of State and Government of the Member States of the European Union (EU) and the Gulf Cooperation Council (GCC) held our first Summit on 16 October 2024 in Brussels, Belgium, under the theme “Strategic Partnership for Peace and Prosperity” to celebrate the deepening partnership between the two blocs, co-chaired by H.E. Charles Michel, President of the European Council and H.H. Sheikh Tamim bin Hamad Al Thani, Amir of the State of Qatar as rotating President of the Gulf Cooperation Council, in the presence of H.E. Ursula von der Leyen, President of the European Commission, and, H.E. Jasem Al Budaiwi, Secretary General of the Gulf Cooperation Council and H.E. Josep Borrell Fontelles, High Representative of the EU for Foreign Affairs and Security Policy.
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EU, Gulf states seek give and take on Ukraine, Middle East
EU and GCC sources both said the negotiations on the finalized joint statement in the weeks leading up to Wednesday's summit were difficult. Top of Europe's wishlist was strong wording condemning Moscow for its full-scale invasion of Ukraine. One EU diplomat said initially, the GCC — the group of wealthy Gulf states that includes Saudi Arabia, Qatar, the United Arab Emirates, Bahrain, Kuwait and Oman — wanted no direct reference to Russia in the text. Ultimately, leaders compromised by simply lifting the language from a 2022 United Nations General Assembly resolution in which they "deplore in the strongest terms the aggression by the Russian Federation against Ukraine."
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Saudi Finance Hub Bigger Than Canary Wharf Seeks $700 Million
Saudi Arabia’s main finance district — almost three times the size of London’s Canary Wharf — is looking to raise about $700 million from equity investors to fund further development of its Riyadh real estate complex. The King Abdullah Financial District, or KAFD, is planning to raise the money by putting some of its income-generating buildings into a real estate investment trust and offering a stake to investors through a listing on the Saudi stock exchange, according to people familiar with the matter.
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Build details showcase incredible scale of Saudi Arabia’s Line megacity
To help make all this happen, Saudi Arabian authorities have now commissioned a new SAR 700-million (almost US$190-million) concrete multi-plant factory that will be capable of producing up to 20,000 cubic meters (roughly 700,000 cubic ft) of concrete per day, most of which will be for the Line, with the remainder going to other Neom projects. There are also over 100,000 workers busy removing huge amounts of earth 24 hours a day, seven days a week, to make space for its massive foundations.
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Where a Million Desperate People Are Finding Shelter in Lebanon
In Lebanon, the displaced are practically everywhere. In Beirut, the capital, where many are staying, they have set up makeshift tents on the corniche by the sea, crafting shelters out of stray metal poles, bits of awnings and blankets. In the city’s parks and squares, some families have placed floor coverings on the ground, anchoring them with cases of water and folded blankets. Others are taking shelter anywhere that they can, mostly in schools but also in unfinished buildings.
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U.S. Central Command Conducts Multiple Strikes on Underground Iran-Backed Houthi Weapons Facilities
U.S. Central Command (CENTCOM) forces conducted multiple, precision airstrikes on numerous Iran-backed Houthi weapons storage facilities within Houthi-controlled areas of Yemen that contained various advanced conventional weapons used to target U.S. and international military and civilian vessels navigating international waters throughout the Red Sea and Gulf of Aden. These actions were taken to degrade the Houthi's capability to continue their reckless and unlawful attacks on international commercial shipping and on U.S., coalition, and merchant personnel and vessels in the Red Sea, Bab Al-Mandeb Strait, and the Gulf of Aden, and to degrade their ability to threaten regional partners.
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Tech-savvy Qatif grandmother keeps Saudi traditions alive for the social media generation
Dressing in traditional clothing and glistening gold jewelry is the daily norm for Fatma Abdullah Al-Malak, a 72-year-old, tech-savvy Saudi grandmother from Qatif who is working hard to keep the spirit of local culture alive through her social media activity. She creates educational content about local heritage and traditions, including clothing and cooking, and shares it on Instagram. In one video, for example, she explains the traditional significance of the Alrdah, a cloak or robe that hangs loosely across the shoulders and is worn by women when they leave the house.
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Israeli siege plan for Gaza under scrutiny as U.S. demands urgent change
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