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John Kerry’s Remarks at U.S. Chamber of Commerce Middle East Commercial Center Leadership Dinner
In an energetic and wide-ranging speech delivered to guests attending the Middle East Commercial Center Leadership Dinner on Monday night at the U.S. Chamber of Commerce, Secretary of State John Kerry praised the work of the Center and the development of business relationships between the United States and the Middle East region. Secretary Kerry shared […]
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#SaudiTBT: The Father of the Saudi Arabian National Guard HRH King Abdullah bin Abdulaziz in 1962
HRH Miteb Bin Abdullah, Minister of the Saudi Arabian National Guard (SANG) and the third oldest son of Saudi Arabia’s King Abdullah Bin Abdulaziz, recently visited Washington to meet with President Obama and other senior officials to discuss strengthened bilateral cooperation between the U.S. Department of Defense and SANG. The National Guard is one […]
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Jadwa Investment: Oil Market Dynamics and Saudi Fiscal Challenges
After a significant drop in oil’s price on international markets since July 2014, the impact on the Kingdom of Saudi Arabia’s budget and fiscal policy is assessed in Jadwa Investment just-released research note. Head of Research Dr. Fahad Alturki notes that the recent decision not to cut output by OPEC “adds further uncertainty not only on the global […]
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As Oil Dips Below $70, American Producers Wonder Where the Bottom Is and Eye an End to Export Ban
The second half of 2014 has been a lively period for the U.S. shale industry. Fueled by new technologies and a soaring oil price, everyone from upstart producers to big oil were taking advantage of new production opportunities in United States in shale deposits. Over the last year, the U.S. alone accounted for 82% of non-OPEC production growth, […]
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With Houthi Gains in Yemen, Saudi Reportedly Pulls Aid
Saudi Arabia has suspended most of its financial aid to Yemen in “clear indication of its dissatisfaction with the growing political power of Shi’ite Houthi fighters friendly with Riyadh’s regional rival, Iran,” according to a Reuters report. “Soon after Houthi fighters took over the capital Sanaa in September, Saudi Arabia promptly suspended much of that […]
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Saudi Arabia Sees Oil Prices Stabilizing ‘Around $60 a Barrel’
Saudi Arabia now believes oil prices could stabilize at around $60 a barrel, a level both it and other Gulf producers believe they could withstand, according to people familiar with the situation citied in a UPI report. “Saudi Arabia seeks to maintain its long-term market share, even if the price of oil stays temporarily low, its […]
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Smartphone Generation: The Overnight Mobile Internet Revolution in the MENA Region
What is the single indicator related to the online market opportunity in the United Arab Emirates and Saudi Arabia that beats all other developed and developing countries? Just take a look at people in coffee shops, malls, or even at family gatherings, you’ll notice immediately that everyone has a smartphone. To be specific, 74% of […]
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Legalized Drifting: 4-Round Saudi Car Drift to Begin Al-Ahsa
At long last, one Saudi will be able to claim to be the best drifter in the Kingdom. The Saudi Star Drift Championship kicks off this month for the first time, and will be supervised by the Saudi Arabian Motor Federation. The series will take an otherwise illegal but popular hobby in Saudi Arabia and make it […]
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#FocusKSA: Saudi Student Turned Entrepreneur Walid Abdulwahab On His Experiences Running a Successful Business in the U.S.
In the latest FocusKSA discussion, Saudi-US Trade Group President, Richard Wilson, spoke with Walid Abdulwahab, a recent graduate of the University of Southern California and Founder and CEO of Desert Farms, which produces, markets and sells camel milk and camel milk products to a growing list of U.S. retail outlets. Walid discusses his background, academic experience […]
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SUSRIS: Saudi Oil Production “Crucial” to EIA 2015 Forecast
“Changes in the forecast of Saudi Arabian oil production are crucial to the revised outlook and a major source of uncertainty in the year ahead. Saudi Arabia has indicated interest in preserving market share rather than unilaterally carrying the burden of cutting production to balance the global oil market. In addition to numerous statements by […]
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ICC prosecutor seeks arrest warrants for Israel’s Netanyahu and Hamas leaders
The International Criminal Court's prosecutor said on Monday he had requested arrest warrants for Israeli Prime Minister Benjamin Netanyahu, his defence chief and three Hamas leaders over alleged war crimes.ICC prosecutor Karim Khan said in a statement issued after more than seven months of war in Gaza that he had reasonable grounds to believe the five men "bear criminal responsibility" for alleged war crimes and crimes against humanity.
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Israeli troops push into Jabalia, airstrikes kill five in Rafah
Israeli forces thrust deeper into the Jabalia camp in northern Gaza on Tuesday, laying waste to residential districts with tank and air bombardments, residents said, while Israeli air strikes killed at least five people in the southern city of Rafah.Simultaneous Israeli assaults on the northern and southern edges of the Gaza Strip this month have caused a new exodus of hundreds of thousands of people fleeing their homes, and sharply restricted the flow of aid, raising the risk of famine.
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Saudi Arabia signs 2 PPAs for Al Ghat, Wa’ad Al Shamal wind projects
Saudi Power Procurement Co. (principal buyer) and a consortium led by the Japanese Marubeni Co. signed two power purchase agreements (PPAs) for the 600-megawatts (MW) Al Ghat and 500-MW Wa'ad Al Shamal wind farm projects.
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Big Airbus order overshadows Boeing at Riyadh conference
Saudia Group, owner of Saudia airline and budget carrier flyadeal, placed a hefty order for 105 Airbus (AIR.PA), opens new tab narrow-body aircraft on Monday, marking a bounce-back for the European planemaker just months after Boeing had been tipped to win more Saudi business.Ibrahim Al Omar, Saudia Group's director general, described the order for 12 A320neo and 93 A321neo single-aisle aircraft as the largest in the country's history.
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US, Saudis close to deal on defense pact, White House says
The United States and Saudi Arabia are close to a final agreement on a bilateral defense pact after the U.S. national security adviser made significant progress in talks with the Saudis over the weekend, the White House said on Monday.White House national security spokesperson John Kirby said the two sides are "closer than we've ever been" on a bilateral agreement that is now "near final."U.S. and Saudi negotiators are seeking to complete work on a bilateral accord expected to call for formal U.S. guarantees to defend the kingdom as well as Saudi access to more advanced U.S. weaponry, in return for halting Chinese arms purchases and restricting Beijing’s investment in the country.
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IBM makes more AI models open source and lands Saudi Arabia deal
International Business Machines (IBM.N), opens new tab on Tuesday said that it will release a family of artificial intelligence models as open-source software, and that it will help Saudi Arabia train an AI system in Arabic.The Armonk, New York-based company has taken a different approach to making money from AI than some of its rivals such as Microsoft (MSFT.O), opens new tab and others that are tightly guarding their AI models and charging for access to them. Similar to Facebook owner Meta Platforms (META.O), opens new tab, IBM is instead providing open access to the models themselves and on Wednesday opened its "Granite" family of AI models for companies to customize.
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Saudi Arabia launches summer program with mega lineup of events to boost tourism
Saudi Arabia has launched its summer program with a lineup of major events taking place across seven destinations in the Kingdom, the Saudi Tourism Authority announced on Monday, in a bid to boost domestic and regional tourism.
The program will run for four months until the end of September across seven destinations: Aseer, Al Baha, Taif, the Red Sea (a new destination), Jeddah, Riyadh, and AlUla.
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Over 267,000 Hajj pilgrims arrive in Saudi Arabia
A total of 267,657 pilgrims have arrived in Saudi Arabia from all over the world to perform the annual pilgrimage of Hajj until the end of Sunday. The General Directorate of Passports (Jawazat) said on Monday that this figure includes pilgrims who came via Saudi airports, seaports and land entry points. The overwhelming majority of pilgrims came by air.
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Tickets for Saudi Arabia’s first ever UFC fight in Riyadh go on sale
Tickets for the first ever Ultimate Fighting Championship (UFC) fight in Saudi Arabia’s Riyadh are now on sale, the Saudi Press Agency (SPA) reported on Monday. Australian Robert Whittaker and Russian Khamzat Chimaev will face off on June 22 at the Kingdom Arena.
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WTA signs multi-year partnership with Saudi PIF
The Saudi Public Investment Fund (PIF) will become the first-ever naming partner of the WTA's rankings, the two organisations announced on Monday, as part of a multi-year partnership. The announcement marks the PIF's latest foray into tennis, after the men's ATP tour also signed a multi-year "strategic partnership" earlier this year. "Together, we look forward to sharing the journey of our talented players across the season, as we continue to grow the sport, creating more fans of tennis and inspiring more young people to take up the game," WTA Ventures CEO Marina Storti said in a statement.
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