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  • Industrial Development
    Saudi RCJY attracts $239.78b in local investments

    The Royal Commission for Jubail and Yanbu (RCJY) said that it has been able to attract a total of USD239.78 billion in investments locally for its expansion and development works in its different fields since it began working in both its Jubail Industrial city and Yanbu City, Arab News reported.

  • Green Tech
    KSA green technology patents up 58%

    “The Kingdom’s annual growth of 58 percent in patents for inventions in the field of the environment is an indicator of growing awareness and the efforts of local scientists to find solutions for local environmental issues,” Al-Suwaiyel said recently during the opening of the Saudi International Conference for Environment Technology organized by the KACST in Riyadh.

  • Iran Negotiations
    Iran, West hold unscheduled second day of nuclear talks

    With two weeks to a deadline for an overall agreement, Iranian Foreign Minister Mohammad Javad Zarif, U.S. Secretary of State John Kerry and EU envoy Catherine Ashton met in Oman's capital Muscat to tackle a decade-long dispute which has raised the risk of wider conflict in the Middle East. The discussions aim to put verifiable limits on Iran’s uranium enrichment work - and any other potential path to a nuclear weapon - in return for a gradual lifting of sanctions.

  • MENA Electricity
    The Middle East’s electricity woes

    Over the past decades, power generation in the Middle East has increased by around 6-8% per year, up to 5-10% in some countries. It is notable, meanwhile, that the global annual rate of power generation has only increased by around 2.5% annually. The high rates of power consumption in the region can be attributed to the following factors: the increase in population growth; steep government subsidies for electrical power, provided at a cheaper rate than the actual cost price; limited attempts to rationalize consumption; and the soaring temperatures in the summer in Gulf states.

  • Saudi Policy
    Focus: The tough questions facing Saudi Arabia’s economy

    Effectively, then, national development transpired via oil income (and state owned enterprises), bypassing industrialization. As part and parcel of the statist economic models of the surrounding region, national development then must move towards private, alternative economic development. However, in the absence of a suitable private sector climate a middle ground must be engaged, namely entrepreneurship.

  • Expatriate Labor
    Over 8m expats in private sector

    There are more than 8.2 million expatriates working in the private sector compared to 1.4 million Saudis, according to a senior official of the Labor Ministry. Ahmed Al-Fiahid, ministry undersecretary, told Okaz/Saudi Gazette that the increasing number of foreign employees in the Kingdom is one of the challenges facing the ministry.

  • Al-Ahsa Attack
    Saudi Arabia carries out second wave of counterterror arrests

    Saudi security authorities have continued their counterterror offensive following the Al-Ahsa attack on Monday, arresting more than 26 suspected militants involved in the attack following security raids across the Kingdom. A high-level Saudi security source, speaking to Asharq Al-Awsat on the condition of anonymity, said that Saudi security forces are committed to tracking down and arresting all those involved in the attack on the Shi’ite Husseiniya (meeting house) which resulted in the death of eight citizens and the wounding of 10 others. Security forces most recently arrested three suspected militants in the central Riyadh region on Thursday morning following information obtained by questioning suspected militants who had been arrested in earlier security raids.

  • 9/11 Plot
    9/11 Plaintiffs Ask For Time To Assess Moussaoui Claims Of Saudi Involvement

    Whether Moussaoui’s testimony will help the plaintiffs is unknown. Moussaoui was arrested before the 9/11 attacks in August 2001 on immigration charges after officials became suspicious about his attending a flight-training school in Minnesota. While he had contacts with the other 9/11 hijackers, his credibility would be challenged by his changing claims of involvement in the plot. He ultimately pleaded guilty to involvement even as 9/11 planner Khalid Sheik Mohammed claimed he wasn’t part of the team.

  • SAMA
    SAMA net foreign assets down from August record high

    Saudi Arabian Monetary Agency’s net foreign assets edged down to SR2.762 trillion ($736.5 billion) from a record high of SR2.764 trillion in August. They were up 6.0 percent from a year ago, the slowest growth since May 2010.

  • Libya
    Gunmen storm Libya’s El Sharara oilfield, shut down production

    The closure is a blow to government efforts to keep oil production isolated from the spreading chaos in the North African country, where two prime ministers, parliaments and army chiefs of staff compete for control. The closure will lower the OPEC member's oil production, last reported at around 800,000 bpd, by at least 200,000 bpd.