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  • Saudi oil price cut driven by weak market, not policy shift

    Saudi Arabia's cut in official crude oil selling prices to Asia reflects weaker fundamentals of supply and demand, and does not imply a looming shift in OPEC+ policy or a fight for market share, analysts and industry sources said. On Jan. 7, Saudi Arabia reduced the February official selling price (OSP) of its flagship Arab Light crude to Asia to the lowest level in 27 months. Asia is the kingdom's larget market, buying the bulk of Saudi crude.

  • US relists Houthis as terrorists in response to Red Sea attacks

    The U.S. government on Wednesday returned the Yemen-based Houthi rebels to a list of terrorist groups in the latest attempt by Washington to stem attacks on international shipping. Officials said the "Specially Designated Global Terrorist" (SDGT) designation, which hits the Iran-aligned group with harsh sanctions, was aimed at cutting off funding and weapons the Houthis have used to attack or hijack ships in vital Red Sea shipping lanes.

  • WTA’s Expected Saudi Arabia Announcement Sparks Backlash From Tennis Legends

    When he’s not running the tournament, Craig Tiley, chief executive officer of Tennis Australia, has been making the rounds, expressing his adamance that tennis must avoid a LIV golf-style disruption such as a rival league. Though he withdrew from the tournament last week, Rafael Nadal made news Tuesday and surprised several powerbrokers when he announced a tennis ambassador partnership with the Saudi Tennis Federation.

  • Deadly Iranian Strikes in Iraq and Pakistan Inflame Regional Tensions

    Iran hit its neighbors Pakistan and Iraq with missile strikes on Tuesday, prompting strong denunciations from both countries and raising fears that upheaval in the Middle East could spiral out of control.

    Since the war in Gaza began in October, Iran has used its proxy forces against Israel and its allies. But on Tuesday, it said its latest missile strikes had been in response to terrorist attacks within its borders.

  • Experts react: What to expect after Iranian attacks on Erbil

    On January 15, the Islamic Revolutionary Guards Corps (IRGC) claimed responsibility for missile attacks into Erbil, the capital of the Kurdistan region of Iraq, that killed four and may have wounded as many as seventeen. The attacks largely hit civilian areas, killing a well-known Kurdish real estate developer and four members of his family.

  • Saudi real estate: Riyadh housing shortage reaches boiling point as rents skyrocket 23% amid undersupply, population surge

    The housing crisis in the Saudi capital has reached a breaking point as demand continues to outpace the rate of new supply coming onto the real estate market, leading to a surge in rental prices that is only set to be further exacerbated by the anticipated population growth after the Regional HQ mandate which went into effect earlier this month.

  • The Largest Risks Faced by the World

    Over the next ten years, climate change and its consequences will pose the greatest risk to the world. That’s according to roughly 1,500 global experts from academia, business and politics, who were asked to evaluate 34 global risks over a two-year and a 10-year horizon for the World Economic Forum’s annual Global Risks Perception Survey.

  • Why Saudi Arabia Is Staying on the Sidelines in the Red Sea Conflict

    In the not-too-distant past, Saudi Arabia would have cherished the opportunity for a joint U.S.-U.K. strike targeting Houthi strongholds. After all, Riyadh fought a brutal war against the group for almost a decade. But today, a Western offensive on the Yemeni group is precisely the opposite of what Riyadh wants as it conducts a delicate peace negotiation with the Houthi leadership to extricate itself from Yemen and, it hopes, permanently protect itself from cross-border attacks.

  • Saudi Arabia ‘incredibly concerned’ about Red Sea, Gaza security, FM tells WEF

    Saudi Arabia is “incredibly concerned” about regional security following Houthi attacks on international shipping in the Red Sea and the situation in Gaza, the Kingdom’s foreign minister said on Tuesday at the World Economic Forum in Davos, Switzerland. Prince Faisal bin Farhan told a panel titled “Securing an Insecure World” that de-escalation in the Red Sea is essential, and that Riyadh will continue to “engage with all stakeholders” after US and UK airstrikes against Houthi positions in Yemen last week.

  • Saudi Arabia has not yet joined BRICs: Minister

    Saudi Arabia has not yet officially joined the BRICs bloc of developing countries, the Kingdom’s minister of commerce said in a panel at the World Economic Forum in Davos on Tuesday.

    “Saudi Arabia has been invited to attend BRICs, we have not yet officially joined BRICs,” Majid al-Kasabi said in a first comment from Saudi officials after the proposed joining date of Jan. 1 passed.