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U.S. State Department OKs Sale of 600 Patriot Missiles, Ammunition and Arms to Saudi Arabia
The U.S. State Department today approved the sale of 600 patriot missiles to Saudi Arabia at a cost of $5.3 billion, according to reports. The additional additional PAC-3 missiles for Saudi Arabia will be built by Lockheed Martin Corp. “The Kingdom of Saudi Arabia has requested a possible sale of six hundred (600) Patriot Advanced Capability-3 […]
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Deputy Crown Prince Mohammed bin Salman Orders Aid to Yemen as Gains for Saudi-backed Forces Continue
Saudi-led coalition land forces operating in Yemen have seen gains in recent weeks following the initiation of Operation Golden Arrow to recapture the city of Aden on July 16, according to DefenseNews.com. Saudi Arabia’s Brig. Gen. Ahmed Al-Assiri told Al-Arabiya television in an interview on July 22 that “[Saudi] are supporting the legitimate corps in the […]
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Defense Secretary Ash Carter in Saudi Arabia to Meet with King Salman, Deputy Crown Prince Mohammed bin Salman
Secretary of Defense Ash Carter met today with King Salman and his defense minister, Deputy Crown Prince Mohammed bin Salman, in Jeddah on the Red Sea coast to reassure Saudi Arabia about U.S. commitment to their security. Secretary Carter is also slated to meet with GCC military officials, per remarks made by Saudi Foreign Minister Adel Al-Jubeir […]
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Saudi Arabia’s King Salman’s Outreach to Hamas Leader Seen as Widening Effort to Counter Iran through Arab Unity
King Salman’s historic meeting last Friday with Hamas leader Khaled Meshaal “was part of an effort by Riyadh to shore up Arab unity in the face of a perceived threat from Iran that it believes has become more urgent since last week’s nuclear deal,” writes Angus McDowall in Reuters. Meshaal, who was on pilgrimage to […]
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How Saudi Women are Finding a Way in the Workforce
Saudi women’s successes in the workforce represent “evidence of a slow but seismic shift” in Saudi society with entrepreneurs and career professionals finding ways toward career success in the Kingdom, according to a feature story by Alexandra Zarvis in the Los Angeles Times. “No matter how successful we are, no matter how much we achieve, the […]
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Official White House, Saudi Statements on Iran Deal
U.S. President Barack Obama spoke with Saudi Arabia’s King Salman by phone on Tuesday to discuss the results of the P5+1 negotiations over Iran’s nuclear program. President Obama also expressed his condolences over the recent passing of HRH Prince Saud al-Faisal. According to a readout by the White House, President Obama “shared details of the Joint Comprehensive […]
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Secretary of State John Kerry Issues Statement on Passing of HRH Prince Saud al-Faisal
U.S. Secretary of State John Kerry issued a statement today expressing condolences for HRH Prince Turki al-Faisal. “Teresa and I join with my colleagues, past and present, across the United States government in expressing our deep sadness at the passing of Prince Saud Al Faisal, who served as Foreign Minister of Saudi Arabia for more […]
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Improvement in Demand, Slowdown in Shale Output Push Oil Market Prices Up 13% in 2Q 2015: Jadwa Investment
Oil prices are rebounding steadily following a low point at the beginning of 2015, according to a recently released analysis of the oil market by Riyadh-based Jadwa Investment. Jadwa Chief Economist Dr. Fahad Alturki said that a general improvement in oil demand and slowdown in the rate of growth in US shale oil output combined […]
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Three Saudi Brothers Arrested in Connection with Mosque Bombing in Kuwait
Three Saudi brothers have been arrested in connection with a suicide bombing at a Shi’ite mosque in Kuwait last month, according to Saudi and Kuwaiti authorities and as reported by the Reuters news agency. “The three brothers were ‘parties to the crime of the sinful terrorist bombing that targeted the Imam al-Sadeq mosque in Kuwait,’ the SPA state news […]
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Oil sector pushes up overall growth for Saudi Arabia in 1Q 2015 – Jadwa Investment
According to a recently released report by Jadwa Investment, the Saudi economy saw 2.4% year-on-year growth in real terms in the first quarter of 2015. “The acceleration was mainly attributed to the oil sector, which grew following two consecutive quarterly declines,” Jadwa writes. “We assume that year-on-year economic growth will reach similar levels in the […]
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Saudi banks’ aggregate profit down 7% to SAR 6.9B in March
Banks operating in Saudi Arabia reported a 6.7% decline in aggregate net profit before Zakat and tax to nearly SAR 6.93 billion in March, compared to SAR 7.4 billion a year earlier, monthly data issued by the Saudi Central Bank (SAMA) showed.
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US approves sale of blanket order training for Saudi Arabia’s Naval Forces: Pentagon
The US on Tuesday approved a blanket order of training for Saudi Arabia’s Naval Forces in a deal worth $250 million. The Pentagon says the training will enhance Riyadh’s ability to defend itself against regional malign actors and support US Navy efforts to enforce freedom of navigation.
The Pentagon said the Defense Security Cooperation Agency delivered the required certification, notifying Congress of this possible sale on Tuesday.
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Perspective: On the stalling of major projects in Saudi Arabia
In general, and despite the succession of these loans, it is certain that the Kingdom’s economy has not slipped into danger, as the Kingdom’s debts constitute only about 26.5 per cent of the GDP by the end of 2023 (compared to 65 per cent in Germany and 112 per cent in France). The Saudi budget still enjoys large areas of manoeuvrability by reducing expenditures, supported by increasing possibilities for at least stable, and perhaps increasing, oil prices in light of the increasing geopolitical risks around the world and the increase in demand for black crude. This, in short, means that the debt risks to the Kingdom are still within the calculated and safe range, but it remains very important to anticipate what is coming.
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Saudi Aramco CEO says 80% of oil demand to come from Global South by 2050
"They [Global North] are putting a lot of funds to create the transition," Nasser said in a special meeting of the World Economic Forum in the Saudi capital Riyadh. "It doesn't work where the demand is today. Fifty to 60% of the demand is in the Global South. By 2050, 80% of the hydrocarbon demand is going to be in the Global South. So, we need to take that into consideration if we are worried about emissions. We need to focus on a mission rather than picking winners or losers."
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BlackRock to launch PIF-backed Saudi investment platform
The world's largest asset manager BlackRock (BLK.N), opens new tab said on Tuesday it plans to launch a new investment platform in Saudi Arabia, backed by up to $5 billion from Saudi sovereign wealth fund the Public Investment Fund (PIF).BlackRock and PIF said they had signed a memorandum of understanding under which BlackRock would establish a Riyadh-based multi-asset investment platform, anchored by PIF's initial cash injection, subject to certain agreed milestones being hit.
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Entertainment industry playing a lead role in Saudi transformation
The entertainment industry in Saudi Arabia has seen a serious boost in recent years as the country continues on its course to becoming a hub for leisure – and overall a place for the wealthy to spend big. Consumer spending in entertainment is expected to reach $5 trillion by 2028, according to a report from Redseer Strategy Consultants.
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Saudi Arabia activist sentenced to 11 years in prison for ‘support’ of women’s rights
Saudi officials confirmed in a statement to the United Nations high commissioner for human rights that Manahel al-Otaibi was sentenced on 9 January for what the Saudi government called “terrorist offences”.
Al-Otaibi, who was sentenced in a secret hearing before the counter-terrorism court, was found guilty of charges related to a Saudi anti-terror law that criminalises the use of websites to “broadcasts or publishes news, statements, false or malicious rumors, or the like for committing a terrorist crime”.
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Geothermal – Saudi Arabia’s Next Energy Vector?
For decades, Saudi Arabia’s power sector has heavily relied on hydrocarbons for electricity generation. Their abundant supply, affordability, and differential performance have made them a top choice. A significant portion of this electricity provides power for air conditioning systems and water desalination plants.
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Food-poisoning patients released from intensive care, 25 discharged from Riyadh hospital
More than half of the patients who contracted food poisoning caused by the clostridium botulinum bacteria last Thursday were released from intensive care and 25 discharged from a local hospital, the Ministry of Health reported on X. The ministry’s spokesperson Dr. Mohammed Khalid Alabdulaali confirmed that the only source of the contaminated food was from the local Hamburgini fast-food restaurant chain.
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Police arrest dozens of pro-Palestinian protesters at Columbia University
New York City police arrested dozens of pro-Palestinian demonstrators holed-up in an academic building on Columbia University campus late on Tuesday and removed a protest encampment the Ivy League school had sought to dismantle for nearly two weeks.Shortly after police moved in, Columbia University President Minouche Shafik released a letter in which she requested police stay on campus until at least May 17 - two days after graduation - "to maintain order and ensure that encampments are not re-established."
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