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  • Opinion: For Hamas, Everything Is Going According to Plan

    Israeli Prime Minister Benjamin Netanyahu seems to have concluded that the best way to stay out of prison on corruption charges is to stay in office, and the best way to do that is to keep the war going. Hamas, meanwhile, believes that it is winning. On October 13, I wrote in these pages that Hamas had set a trap for Israel. The trap has sprung; Israel is fully enmeshed in it, with no evident way out, and Hamas is getting exactly what it hoped for.

  • Saudi FM Holds Talks with High-level Officials on Sidelines of Ukraine Peace Summit

    Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah met on Saturday with a number of world leaders and officials on the sidelines of the peace summit on Ukraine in Lucerne, Switzerland, including President of the European Council Charles Michel.

  • Chile says Saudi mining minister to visit, lithium expected on agenda

    Chile's government said on Saturday that Saudi Arabia's mining minister will travel to the Latin American country in July and plans to meet with his counterpart in Santiago.
    Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef told Reuters in March the kingdom was interested in sourcing lithium abroad, as it aims to enter the electric vehicle sector.
    "He will indeed be in Chile (in July) and has asked for a meeting with the minister. But the date is not yet set," the ministry said in an email to Reuters.

  • Why is Saudi Arabia cutting funding, reducing costs on ambitious projects?

    Over the last few months, employees working for state-backed Saudi companies have been startled by unforeseen cost cuts. It started during the first quarter of 2024 and affected those working in diverse sectors across the kingdom, from the media to the country's ambitious giga projects. Department spendings were significantly reduced, employees were made redundant and managements did everything big and small to save money, causing an atmosphere of tension and uncertainty.  

  • Saudi Arabia inflation remains at 1.6% in May

     Saudi Arabia's annual inflation rate remained at 1.6% for the third month running in May, government data showed on Sunday, with higher housing rents still the main driver.
    Housing rents rose 10.5% from a year earlier underpinned by a 14.3% rise in apartment rents, according to the General Authority for Statistics.
    Overall, prices in the subcategory of housing, water, electricity, gas and other fuels rose 8.7% from the previous year.

  • Netanyahu disbands his inner war cabinet

    Israeli Prime Minister Benjamin Netanyahu has dissolved the six-member war cabinet, an Israeli official said on Monday, in a widely expected move that came after the departure from government of the centrist former general Benny Gantz.
    Netanyahu is now expected to hold consultations about the Gaza war with a small group of ministers, including Defence Minister Yoav Gallant and Strategic Affairs Minister Ron Dermer who had been in the war cabinet.

  • Ukraine summit strives for consensus, way forward uncertain

    Western powers and their allies at a summit in Switzerland denounced Russia's invasion of Ukraine on Sunday, but they failed to persuade major non-aligned states to join their final statement, and no country came forward to host a sequel. Over 90 countries attended the two-day talks at a Swiss Alpine resort at the behest of Ukrainian President Volodymyr Zelenskiy, billed as a "peace summit" even though Moscow was not invited.

  • Brazil joins race to loosen China’s grip on rare earths industry

    Mining giant Brazil has big ambitions to build a rare earths industry as Western economies push to secure the metals needed for magnets used in green energy and defence and break China's dominance of the supply chain. Working to its advantage are low labour costs, clean energy, established regulations and proximity to end markets, including Latin America's first magnet plant which would provide a ready buyer for the metals.

  • How the Saudis won back Biden

    But at its core was a realpolitik realisation in Washington that in the game of great-power competition, Saudi Arabia was too important to ignore, with concerns that if the administration did not engage with Riyadh, a traditional US ally would fall deeper into the orbit of China and Russia. “How do you keep Russia from aligning with Saudi Arabia? You have to have a relationship [with the Saudis]; how do you keep China from aligning with Saudi Arabia? You have a relationship,” says Jon Alterman at the Center for Strategic and International Studies.

  • US-Saudi Arabia security deal could seal future of petrodollar

    Last week, reports emerged that the US-Saudi petrodollar agreement "expired", suggesting the kingdom would move to sell oil in various currencies, not just dollars. Some reports even claimed the Chinese yuan would replace the dollar.

    There was a significant increase in Google searches for the term "petrodollars" in the past two weeks, reaching an all-time high, Google Trends said.