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BofA Revises Upward 2021 Brent Oil Price by $10 a Barrel – Report
Bank of America (BofA) Global Research has hiked its forecast for Brent crude oil prices for this year, citing tighter supplies due to the Texas freeze and OPEC+ output curbs and unmatched global monetary stimulus, Reuters reports, citing a research note from the bank.
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Saudi Research and Marketing Group Hires Two Goldman Bankers as Execs, Looks to Expand
Saudi media powerhouse Saudi Research & Marketing Group (SRMG) hired two bankers from Goldman Sachs Group Inc. in the Gulf in a bid to to bolster its regional and global presence, according to a report in Bloomberg.
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Saudi International Kicks Off with English golfer David Horsey with a Day One Lead
This week’s Saudi International kicked off today at the Royal Greens Golf and Country Club in King Abdullah Economic City, Saudi Arabia, playing host to an impressive field of star Tour pros.
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Future Investment Initiative Conference Opens with Impressive Virtual Platform for Distance Participation, Audience
Saudi Arabia’s annual flagship investment conference, the Future Investment Initiative, began today with both in-person and remote participation from speakers and audience on an impressive digital platform built to expand engagement in the conference around the world.
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Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan Voices Optimism with U.S.-Saudi Relations under Biden Administration
Saudi Arabia’s foreign minister has voiced optimism that relations between Riyadh and Washington will be “excellent” under new U.S. President Joe Biden, Al-Arabiya TV channel cited him as saying on Thursday. Appointments made by Biden show “understanding of the common issues” by the new U.S. administration, Prince Faisal bin Farhan added.
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Saudi Arabia’s Crown Prince Says Kingdom Offering $6 Trillion in Investment Opportunities Over Next Decade
Saudi Arabia’s Crown Prince Mohammed bin Salman said the Kingdom offers investment opportunities worth $6 trillion over the next decade, with new projects representing half of this value, he said in a speech at the World Economic Forum on Wednesday.
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After Summit Agreement, Saudi Arabia’s Crown Prince Extends Saudi Hospitality to Visiting Qatari Emir
This week, Saudi Arabia and other GCC nations buried the hatchet with neighboring Qatar after a diplomatic standoff that lasted over three years. The two sides, working toward a fresh start in recent weeks, finalized the end of the feud at Tuesday’s 42nd GCC Summit in Saudi Arabia, reuniting to once again reinvigorate trade between […]
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Trump Administration Approves Nearly $300 Million in Bomb Sales to Saudi Arabia
The Trump Administration’s State Department has approved a possible the sale of nearly $300 million in GBU-39 Small Diameter Bomb I (SDB I) Munitions and related equipment to Saudi Arabia, the latest large U.S.-Saudi security deal to be approved in recent years. The principal contractor will be U.S.-based Boeing, St. Louis, MO.
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Saudi Arabia Joins Dozens of Nations in Blocking International Travel as Mutant Coronavirus Strain Alarms Authorities
Saudi Arabia suspended late on Sunday all international commercial flights for a renewable week except for the foreign flights already in the kingdom which will be allowed to leave, according to reports. The variant, detected in England, is up to 70 percent more transmissible than earlier versions, officials said. People in southeast England, where the […]
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Oil Approaches Prices Not Seen Since Start of Pandemic as Optimism on Vaccines, U.S. Stimulus Drives Prices
Oil reached its highest close in almost 10 months as U.S. lawmakers worked toward finalizing a stimulus deal that may boost near-term demand ahead of a broad roll-out of the Covid-19 vaccine. Futures in New York were near $48.50, headed for a seventh weekly gain, Bloomberg reports.
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Saudi reserve celebrates Green List recognition
The recognition came after a comprehensive assessment of the reserve by IUCN experts, who evaluated its environmental and developmental accomplishments, as well as its community engagement and preservation efforts. The authority has planted 2.4 million native seedlings and 4 tonnes of seeds, including yarrow, artemisia and haloxylon, the Saudi Press Agency reported on Sunday.
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Conor McGregor says he’s fighting Dan Hooker in Saudi Arabia, Hooker confirms plan
And in that time, after presumably healing a broken leg he suffered in a second straight TKO loss to Dustin Poirier, McGregor has promised his return seemingly countless times. A fight against Michael Chandler had been presumed for the better part of two years – including a booked headliner that led to the UFC's new all-time gate record, only for McGregor to pull out.
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Real Estate Transaction Tax will be exempted under 21 circumstances
The law revealed 21 cases in which real estate transactions are completely exempt from the tax, as the law includes specific exemptions, such as: real estate transactions related to the division of estates or gifts to relatives up to the third degree, and transactions for the purposes of endowments and charitable associations. It aims to combat tax evasion by imposing fines of up to three times of the tax due in the event of manipulation or providing inaccurate information.
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Saudi Arabia expands cloud seeding for water security
Ayman Ghulam, CEO of the National Center of Meteorology and general supervisor of the program, stressed that the program is crucial for water security and natural resource sustainability by utilizing global technologies to improve climate conditions and rainfall. Ghulam noted significant milestones, including the first rain-seeking flight in April 2022, and ongoing research to optimize weather elements in Saudi Arabia, complementing the Saudi and Middle East Green initiatives.
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Saudi Arabia condemns Israel’s decision to seize UNRWA headquarters land in Jerusalem
The Saudi Ministry of Foreign Affairs has strongly condemned the Israeli occupation authorities’ decision to confiscate the land on which the headquarters of the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) is located in occupied Jerusalem, with the intent to transform it into a settlement outpost.
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How Nasrallah’s departure will impact Iraq
The departure of Hezbollah's Secretary-General Hassan Nasrallah has sent shockwaves throughout the region, especially as his pivotal role within the ‘resistance’ movement is expected to have a lasting impact. The absence of a towering figure such as Nasrallah is particularly significant for Iraq, where dozens of Shiite armed groups—many of which are now part of the government—are closely linked to the broader ‘resistance’ network that the late Lebanese cleric and politician influenced.
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US to send anti-missile system and troops to Israel, Pentagon says
The United States said on Sunday it will send U.S. troops to Israel along with an advanced U.S. anti-missile system, in a highly unusual deployment meant to bolster the country's air defenses following missile attacks by Iran. U.S. President Joe Biden said the move was meant "to defend Israel," which is weighing an expected retaliation against Iran after Tehran fired more than 180 missiles at Israel on Oct 1.
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Saudi Arabia sends second relief plane to Lebanon
The second Saudi relief plane, operated by KSrelief, departed on Monday from King Khalid International Airport in Riyadh, carrying food, medical supplies and shelter aid to Beirut International Airport. This mission follows the directives of King Salman and Crown Prince Prince Mohammed bin Salman to support the Lebanese people.
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Saudi PIF-Backed Firm Plans Trade Zone to Boost China Ties
The KSA-Sino Logistics Zone will be developed at Saudi Arabia’s new King Salman International Airport, Cliff Chau, managing partner at Riyadh-based EWPartners, said in an interview. It will aim to bring in Chinese firms involved in logistics, light manufacturing and reexports into Saudi Arabia to serve the wider Middle East, Africa and Europe, he said. The firm is currently in talks with potential investors including both Asian and Middle East sovereign wealth funds to finance around $2 billion for the initial development costs, said Chau, a former executive at China Investment Corp. The full cost of developing the 4 square kilometer zone, which is scheduled to launch by the end of next year, is still being determined, he said.
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Saudi naval forces participate in Medusa 13 joint naval-air exercise in Greece
The Royal Saudi Naval Forces took part on Sunday in a joint naval-air exercise called Medusa 13, being held in Greece. The exercise includes naval and air forces from Greece, Egypt, France, and Cyprus, alongside Saudi Arabia, and aims to strengthen international military cooperation and enhance naval security, Saudi Press Agency reported.
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