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Photos: Rare Snow Blankets Areas of Saudi Arabia
A rare blanket of snow hit areas of Saudi Arabia on Monday, causing a stir on social media sites and even eliciting a Fatwa about snowmen. The bulk of the snow hit a town near the northern city of Tabuk, according to the BBC. Images appearing on the website Alriyadh.com, which often has excellent user-submitted photographs […]
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Five trends that will shape the Arab World’s online industry in 2015
2014 was a milestone year for online businesses in the Arab world. It was the year in which Arab online users spent more time behind their smartphone and computer screens than their televisions, online classified’s popularity soared over that of print classifieds, and several industries such as transportation, automotive, and food & beverage were disrupted […]
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The fundamentals of the oil price slide: where’s the bottom and is Saudi Arabia still a swing producer?
With a precipitous slide in the price of oil to less than half its July 2014 highs, markets around the world are watching Saudi Arabia closely as they try to figure out where the bottom might be for oil prices. But given its low extraction costs, significant capital investment in production infrastructure and large capital reserves, […]
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Saudi Arabia’s 2015 Budget: A Message of Confidence and Focus on Human Capital – John Sfakianakis
Saudi Arabia’s 2015 budget has captured attention as a counter-cyclical fiscal policy to spend heavily despite a projected deficit on the back of falling oil prices. SUSTG’s President Richard Wilson sat down with Dr. John Sfakianakis, Regional Director for the GCC at Ashmore Group, for a wide-ranging interview to discuss issues affecting the Saudi economy. The discussion […]
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John Sfakianakis on the Saudi Economy and 2015 Budget, Oil Prices, and the Opening of the Saudi Stock Market
SUSTG’s President Richard Wilson sits down with Dr. John Sfakianakis of Ashmore Group to discuss a range of key economic an political topics for Saudi Arabia. This discussion is part of SUSTG.com and SUSRIS.com’s FocusKSA series of online interviews with a wide variety of experts and analysts whose commentary provides insight on issues of importance to […]
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Ras Tanura Clean Fuels Project in Saudi Arabia Suspended Due to Low Oil Price
Saudi Arabia’s $2 billion Ras Tanura clean fuels project has been suspended by Saudi Aramco following a steep drop in oil’s price since July 2014, Reem Shamseddine of Reuters reports. The Ras Tanura clean fuels project was due to be a part of a second phase of upgrades to Aramco’s refineries, but may resume in a […]
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Saudi Arabia’s 2015 Fiscal Budget Expands Spending, Projects $39b Deficit to be Covered by Reserves – Jadwa Investment
Saudi Arabia’s 2015 fiscal spending plans amount to “another expansionary budget with spending maintained at a very high level which will play a vital role in supporting the economy,” according to Riyadh-based Jadwa Investment. The firm notes that for the first time since 2011, a fiscal deficit is projected, based on revenues of SR715 billion and expenditures […]
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Ahead of Budget Announcement, Inflation in Saudi Arabia Hits 7-Year Low
Ahead of Saudi Arabia’s budget announcement, which is expected for the end of the week after a special meeting, inflation in Saudi Arabia is approaching its lowest levels since April 2007, Asharq Alawsat reports. The 7-year low is expected to be official when Saudi Arabia’s Central Department of Statistics and Information releases official data before […]
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Saudi Arabia’s 2015 Budget Expectations – SUSRIS
Writing in SUSRIS, Patrick Ryan provides an overview of the expectations for Saudi Arabia’s upcoming announcement of its fiscal plans for 2015. Although the price of oil has been high in recent years, “this year is different,” Ryan writes: “The 2015 budget, expected to be released on Monday, is anticipated to roll back spending to about SR800 […]
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Saudi Stock Market Posts Biggest Daily Loss in 6 Years as Oil Dips Below $60
Saudi Arabia’s Stock Market posted the biggest loss in 6 years as the bourse reacted to further declines in the price of oil, according to reports. The TASI fell 7.3 percent to 7,330 points, its lowest level since June 2013. Dozens of stocks fell by their daily 10 percent limits, indicating further potential weakness, Arab News […]
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Saudi Eyes F-35 Stealth Fighters In Landmark Defense Deal As US Looks To Push China Out Of Kingdom
The White House announced on May 20 that substantial progress had happened in the discussions between the US national security adviser and the Saudis over the weekend, bringing the two countries closer to a final agreement on a bilateral defense accord. John Kirby, the White House’s spokesman for national security, stated that the two sides were “closer than we’ve ever been” on a bilateral agreement that is “near final.”
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State of Play: The fight for Roshn Saudi League survival
The relegation race is tightening in the Roshn Saudi League as we head into the penultimate round of fixtures. Realistically, as bottom side Al Hazem’s fate is already sealed, four teams are fighting for survival, with Abha, Al Okhdood, Al Tai and Al Riyadh separated by two points towards the foot of the table, and while Al Raed are mathematically still not safe, it would take a comprehensive list of results working against them if they are to face a first-ever relegation.
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Arab reactions: Demise of Iran’s president, FM invites sympathy
In the wake of the May 19 passing of Iranian President Ebrahim Raisi and Foreign Minister Hossein Amir-Abdollahian in a helicopter crash near the border with Azerbaijan, the heads of Arab countries and non-state actors alike have expressed sympathy with Tehran. Some of the reactions, including from countries such as Egypt and Saudi Arabia, reflect Raisi’s focus on fostering improved relations with Iran’s neighbors as his top foreign policy priority. Moreover, as the late president and his companions will be laid to rest, the Islamic Republic is set to host a number of foreign leaders
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Commentary: The Impacts of Raisi’s Death
In the near term, the principal impacts will be domestic rather than international. The coercive power of the state in Iran is under the supreme leader, not the president. Still, Raisi was a trusted partner and ideological soulmate to the revolutionary clerical establishment. In fact, many expected him to be in the running for supreme leader after the incumbent, 85-year-old Ayatollah Ali Khamenei, leaves the scene.
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Riyad Capital launches 1957 Ventures fund to drive Saudi fintech innovation
Nadir Al-Koraya, CEO of Riyad Bank, stated, "The launch of the 1957 Ventures fund demonstrates Riyad Bank's unwavering commitment to driving fintech innovation and digital transformation; this fund builds upon our track record of supporting cutting-edge initiatives in this pivotal sector. By empowering startups and entrepreneurs, we fuel Saudi Arabia's economic growth and diversification, aligning with the bold ambitions of Vision 2030. While proud of our past impact, we recognise the vast potential still ahead and are dedicated to fostering sustainable growth."
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Crash of Ayatollah Khamenei’s Succession Plans
Addressing a gathering of Islamic Revolutionary Guard Corps officers and their families, Khamenei urged the public “not to be concerned or anxious” and assured them there would be “no disruption in the work of government.”
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Saudia Group orders 105 A320neo Family aircraft to support Saudi Arabia’s aviation goals
Saudia Group, represented by Saudia, the national flag carrier of the Kingdom of Saudi Arabia, and flyadeal, the group’s low-cost carrier, has signed a firm order for an additional 105 A320neo Family aircraft. The order comprises 12 A320neo and 93 A321neo aircraft. This increases Saudia Group’s Airbus aircraft order backlog to 144 A320neo family aircraft.
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Saudi Arabia’s RSIFF hosts ‘Women in Cinema’ gala in Cannes
Saudi Arabia’s Red Sea International Film Festival (RSIFF) hosted the “Women in Cinema” Gala in partnership with Vanity Fair Europe in Cannes on Saturday, attracting celebrities from across the world.
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Saudi Arabia’s Treasured Mudflats
Nestled along Saudi Arabia’s beautiful coastline and islands lies a remarkable ecosystem of mudflats. Found in shallow waters where the land meets the sea, mudflats are not mere patches of mud but thriving ecosystems, teeming with life. They are home to an array of unique and resilient species, each adapted to the challenging and ever-changing conditions of the intertidal zone. As the tides ebb and flow, the mudflats transform from exposed surfaces to shallow water pools, creating a dynamic environment rich in biodiversity.
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In Saudi Arabia, an all-women psychedelic rock band jams out as its conservative society loosens up
“We didn’t know how people would react,” said Meesh, the band's bassist, who like other members asked to be identified by their stage names. “We believe strongly in self-expression. To our surprise, they really had open arms for us.”
The band's name, Seera, can mean “life” or “biography” in Arabic. Band members say they try to embrace the multiple meanings one can draw from a word in the language in its sound, whether through the driving drums and cymbals or the synthesizer backing the guitars.
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