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U.S. Merchandise Exports to MENA Slowing, But Still Record-Breaking in 2014, NUSACC Finds
A recently released study of government data by the National U.S.-Arab Chamber of Commerce (NUSACC) found another record-breaking year for American exports to the MENA region, but growth slowed in 2014 in what the organization called mixed results. NUSACC: “Exports of U.S. goods to the Middle East and North Africa (MENA) region set a new […]
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Saudi Arabia’s First Social Media King Salman Nets More than 450k Followers on Twitter Since Ascending to Saudi Throne
The citizens of the Kingdom of Saudi Arabia are some of the most active social media users in the world. Roughly 20% of the country is on Twitter and 25% is on Facebook, according to Statista. Upon King Abdullah’s passing, then Crown Prince Salman became Saudi Arabia’s first King to use social media publicly – […]
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Sfakianakis: Passing of King Abdullah and Advent of King Salman a ‘Time of Continuity’ in Oil Policy
Writing in MEES, a Middle East oil and gas weekly magazine, Saudi finance expert Dr. John Sfakianakis says that the transfer of power from King Abdullah to King Salman is likely to represent a continuation of Saudi oil policy, particularly with respect to production levels. “The passing of King Abdullah and the advent of King Salman […]
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The Death of King Abdullah and the Future of Saudi Arabia: 5 Storylines to Watch This Week
The passing of Saudi Arabia’s King Abdullah in the early morning on Friday, January 23rd is a major event in the Kingdom’s history. The impact of the King’s reign on current and future generations will be lasting, and his death has drawn global attention to the Kingdom as the country moves forward with new leadership. […]
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President Obama: ‘My personal condolences and the sympathies of the American people’ following death of King Abdullah as VP Biden plans visit
President Obama issued a statement today on the death of Saudi Arabia’s King Abdullah bin Abdulaziz, expressing his condolences and “the sympathies of the American people” to the family of the King and the people of Saudi Arabia. “It is with deep respect that I express my personal condolences and the sympathies of the American […]
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OPEC to Oil Companies at Davos: ‘Let’s produce the lower cost oil first and then produce the higher cost…prices will rebound’
In dueling speeches at the Davos World Economic Forum in Switzerland, oil company heads and OPEC representatives clashed about the collapse in the price of oil, according to a report in Reuters. Oil company chiefs at from Italy’s Eni Spa and France’s Total said that OPEC’s unwillingness to cut output “could lead to a huge […]
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Spain’s Abengoa and AWT to Develop the World’s First Solar-Powered Desalination Plant in Saudi Arabia
[Press Release] Spain’s Abengoa (MCE: ABG.B/P SM /NASDAQ: ABGB), the international company that applies innovative technology solutions for sustainability in the energy and environment sectors, has been selected by Advanced Water Technology (AWT) to jointly develop the world’s first large-scale desalination plant to be powered by solar energy, in Saudi Arabia. AWT is a newly formed company […]
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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: whereâs 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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United Airlines is halting flights to Israel as the threat of war with Iran looms
Middle East tensions have once again interrupted a key service route for United Airlines. Analysts at Deutsche Bank noted in a recent research note that the carrier has cancelled all service between the United States and Tel Aviv, as conflict between Israel and Iran threatens to escalate to all-out war.
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Saudi Arabia warns against ongoing violations of Jerusalem’s historical status
In a statement the Saudi Ministry of Foreign Affairs expressed its strong condemnation of the repeated and provocative incursions by Israeli occupation officials and numerous settlers into the Muslim holy site. âThe ministry emphasises the importance of respecting religious sanctities and reiterates the kingdomâs warning of the consequences of continuing these violations of international law and the historical status of Jerusalem. These actions provoke millions of Muslims around the world, particularly in light of the ongoing humanitarian catastrophe faced by the Palestinian people,â the statement said.
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Ushaiqer Heritage Village In Saudi Arabia: An Insightful Escape Into Tradition
For those who are fascinated by old-world charm, Ushaiqer Heritage Village is a must-visit spot in Saudi Arabia. The group of yellow mud houses and a maze of different alleys in Ushaiqer welcome visitors to traditional architecture and lifestyle.The village is located 200 kilometers northwest of Riyadh, near the town of Shagra. It comprises seven districts with 400 mud houses and 25 mosques. The name âUshaiqerâ meant âlittle blondeâ, and it traced its origins to the nearby red mountain that gives shades to the mud houses.
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Saudi Arabia extends waiver on expat fees for industrial sector employees
The minister said the waiver has been instrumental in transforming the industrial landscape of Saudi Arabia. Since its inception, the number of industrial establishments has surged from 8,822 to 11,868 by April 2024. This substantial increase reflects the sectorâs expansion and the positive impact of the governmentâs financial incentives, he added.
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Saudi Aramco and Kaust to invest $100m in R&D
Saudi Aramco, the worldâs largest oil producer, and King Abdullah University of Science and Technology (Kaust) are to invest $100 million in research and development projects. The 10-year investment will support projects focused on energy transition, sustainability, materials innovation, upstream technologies and digital solutions, aiming for both environmental and commercial benefits.
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AP Race Launch Swimming Academy In Saudi Arabia
AP Race, a brand co-founded and built by three-time Olympic champion Adam Peaty that includes clinics and events, has launched a swimming academy in Saudi Arabia. Peaty and Ed Baxter founded the AP brand which has been delivering race clinics since 2019 and for the last two years have staged the AP Race London International at the Aquatics Centre, a three-day meet which features international and domestic swimmers through to grassroots initiatives.
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Saudi Wealth Fund Pumps More Cash Into Two Struggling Startups
In most cases, these projects have been key to the oil-rich regionâs diversification push, meaning the sovereign wealth funds might not be solely focused on the dollars-and-cents aspect of their return on investment. But even on that front, some investors have started to focus on ensuring theyâre not throwing good money after bad.
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Saudi Business Center Launches 2nd Phaseâs QR-Code
The Saudi Business Center (SBC) has launched the 2nd phase of Unified QR-Code service to boost the attractiveness of the business environment in the Kingdom, reported the Saudi Press Agency (SPA). The current phase includes 120 licenses linked to the QR-Code document affiliated with nine government agencies. As part of a promising initiative launched by the SBC last January, the 2nd phase allows businesses to consolidate all licenses and certificates from concerned government partners into a single online document.
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Saudi Arabia boosts FDI landscape with new investment law updates
Saudi Arabiaâs Council of Ministers has recently approved the updated investment law, building on previous reforms under Vision 2030 and the National Investment Strategy. The Kingdomâs latest investment law updates bring together several existing freedoms and rights and apply them to investors under one unified framework, ensuring greater transparency, flexibility, and confidence for investors.
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Saudi Arabiaâs King Abdulaziz Port enhances connectivity with new shipping service
Saudi Arabiaâs King Abdulaziz Port in Dammam is set to enhance its maritime links with key ports in India and China with the introduction of a new shipping service. The General Authority for Ports, also known as Mawani, announced the launch of the âMilaha Gulf Express 2,â or 2-MGX service, operated by Qatari navigation company Milaha.
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