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The 966 E12: The Price of Oil in 2022, Redefining Saudi Citizenship, and Two New Mega-Developments in Saudi Arabia
In Episode 12 of The 966, the hosts tackle a recent oil price prediction from the IEA, a new Saudi Royal Decree that grants citizenship to “exceptional” people, and discuss the two newly announced mega-developments in Saudi Arabia and how they stack in comparison to the other mega- and giga-projects in the Kingdom.
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Saudia Airlines Seeks 250-Strong Fleet by 2030 with Significant Aircraft Order – Report
Saudi Arabian Airlines, known as Saudia, is contemplating an aircraft order from Airbus SE or Boeing Co. “that could total well above 100 jets as part of a push to lure more tourists,” Bloomberg reports.
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966 E. 11: Saudi Arabia at COP 26, Seven Years of King Salman, and Saudi Arabia’s First Film Festival
Episode 11 of The 966 has the hosts talking about the Red Sea International Film Festival, King Salman in his 7th year on the throne, and Saudi Arabia at COP 26.
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Saudi Arabia is Currently the Most Affordable Country in the World to Buy a Home
Saudi Arabia is the world’s most affordable country to buy a home in 2021, according to a new study from a Britain-based building supplier.
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Rents for Office Space in Riyadh Climb as Kingdom Pushes Local Headquarters Drive
Rents for premium office spaces in Riyadh rose over the last year, evidence that Saudi Arabia’s push to get international companies to make their regional headquarters in the Kingdom is starting to show results.
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The 966, Episode 10 – A World’s Fair in Riyadh, Excavating Al-Ula, and will Saudi Arabia Produce Cars Soon?
This week on The 966 Episode 10, the hosts discuss how Saudi Arabia is in talks with several carmakers about manufacturing in the Kingdom’s borders. Also, a team of French and Saudi archaeologists has begun work on excavating near Al-Ula in Saudi Arabia in hopes of discovering the remnants of the ancient and long-forgotten kingdoms of […]
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PIF Eyes Deal to Merge Mobile Towers of Zain, STC to Form Telecom Giant – Report
Saudi Arabia’s Public Investment Fund is weighing a deal to combine the mobile phone infrastructure of Saudi Telecom Co. and Zain Saudi Arabia “in a merger that would form the kingdom’s largest cellular towers company,” people familiar with the plans told Bloomberg.
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The 966, Episode 9 – Net-Zero for Saudi Arabia, The FII in its 5th Year, and Tourism in the Kingdom
This week, The 966 hosts discuss a potential rival golf league to the PGA from Saudi Arabia, Boeing’s potential comeback, and Saudi Arabia has pledged to achieve net-zero emissions by 2060. The hosts also discuss the FII in its 5th year and the growing significance of the event, and whether tourism in Saudi Arabia can grow […]
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‘We are Ready to Roll’: Will Saudi Arabia’s Olayan Group Join the IPO Party?
Saudi Arabia’s Olayan family, which runs one of Saudi Arabia’s biggest conglomerates and is one of the richest in the Kingdom, may “revive plans to take some of its companies public,” according to a report today in Bloomberg.
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Saudi Aramco Chief Says World’s Spare Oil Supplies Are Falling Rapidly, Urges Production Investment
Saudi Aramco’s CEO Amin Nasser said that oil-output capacity across the world is dropping quickly and companies need to invest more in production, according to a story in Bloomberg. It’s a “huge concern,” Nasser said in an interview in Riyadh. “The spare capacity is shrinking.”
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MUST-READS
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Is Biden’s reset on Iran paying off?
After spending his first two years trying to reconstruct the JCPOA, Biden has since shifted course to a robust mix of diplomacy, pressure and deterrence, as US Secretary of State Antony Blinken recently explained. The new approach depends on assertive and nimble diplomacy, including via trusted intermediaries, such as Qatar and Oman, as well as a ramped-up regional military deterrent in the Persian Gulf, as Jared Szuba reports.
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Has Regional Detente Paved the Way for Collective Maritime Security in the Gulf?
Unhealthy rivalry and deep-rooted mutual suspicion have long led the Gulf littoral states to view the maritime domain as a battleground to settle old scores and sort out new frictions rather than a space for peaceful cooperation. However, they have recently shown a growing resolve to eschew zero-sum calculations and embrace a more conciliatory posture in managing maritime security affairs. The recent flurry of diplomatic interactions highlights this measured, sometimes contradictory, policy shift.
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Would US Marines on merchant ships be enough to deter Iran in the Gulf?
An Aug. 11 report from USNI stated that some 100 Marines of the 26th Marines Expeditionary Unit have been trained and are ready in Bahrain to provide armed security on board merchant ships crossing the Hormuz Strait. This would reportedly put small groups of armed American forces onto foreign-flagged ships, in order to discourage Iranian attacks. When asked about the report, Cmdr. Tim Hawkins, US 5th Fleet and Navy Central Spokesman, did not deny it, saying “There has been no announcement on this” and declining to “speculate” about future policy.
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BRICS summit 2023: What’s likely to be discussed?
The BRICS group of major emerging economies - Brazil, Russia, India, China and South Africa - will hold its 15th heads of state and government summit in Johannesburg from Aug. 22-24. South African President Cyril Ramaphosa, Chinese President Xi Jinping, Brazil's President Luiz Inacio Lula da Silva and Indian Prime Minister Narendra Modi are expected to attend. Russian President Vladimir Putin will not attend in person due to an arrest warrant issued by the International Criminal Court for alleged war crimes in Ukraine. Putin will participate in the summit virtually and will be represented in Johannesburg by Foreign Minister Sergei Lavrov.
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Middle East’s groundwater shortage: Will it soon run out?
Another reason why it's so difficult to pinpoint exact groundwater levels is that water doesn't respect national borders. ESCWA estimates there are 43 transboundary aquifers in the region. But only a few countries in the Middle East have what the ESCWA described in a 2021 report as "adequate" groundwater management. Additionally, if one country is extracting a lot of groundwater but the other countries that share it aren't pulling out the same, it's very hard to tell, said Houdret. An example is provided by Libya, Tunisia and Algeria who share a groundwater basin. Recent reports suggest Libya runs roughly half of some 6,500 wells taking water out of the basin, while Tunisia and Algeria have far less.
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Middle East’s groundwater shortage: Will it soon run out?
As rivers dry up and rainfall declines, water stored underground is more important than ever in the climate-change-impacted Middle East. The problem is: Nobody really knows how much is left.
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Why do luxury brands open their own cafes?
“We hope to engage this new generation with emotional experiences and content that fuels their desire to express themselves through fashion; we’ve seen Coach products such as the Tabby family and Signature Soho bag, which guests can see in the Coach Café, are increasingly popular across this younger and diverse consumer group.”
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Why is Japan opposed to Saudi Arabia joining UK-Italy GCAP fighter jet alliance?
As Saudi Arabia pushes to join the United Kingdom, Italy and Japan’s next-generation fighter jet alliance, Tokyo is reportedly opposed to Riyadh’s bid for technical and geopolitical reasons, even as it tries to improve relations with the Gulf kingdom. Saudi Arabia’s request to be the fourth addition to the trinational Global Combat Air Program (GCAP) was confirmed by senior officials from London, Tokyo and Rome, to The Financial Times (FT) on Friday. Of the three member countries, the British daily added, Japan is the only one to boldly oppose their induction.
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How Old Are the World’s Nuclear Reactors?
Nuclear power saw a building boom in the 1970s, 80s, and 90s as countries expanded their energy portfolios and sought to capitalize on the advancements in nuclear technology. As a result, the majority of the world’s nuclear reactors began operating during this period.
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Who’s Still Buying Russian Fossil Fuels in 2023?
While Russia’s revenues from fossil fuel exports have declined significantly since their peak in March of 2022, many countries are still importing millions of dollars a day worth of fossil fuels from Russia. Revenue from fossil fuels exported to the EU has declined more than 90% from their peak, but in 2023 the bloc has still imported more than $18 billion of crude oil and natural gas so far.
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