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Prince AlwaleedBelittling the Impact of Oil Price Fall ‘a Catastrophe That Cannot Go Unmentioned’, Alwaleed Writes
“As we have repeatedly warned in the past...our country faces the danger of continuing to depend almost entirely on oil,” Prince al-Waleed said in the letter. “The kingdom’s 2014 budget is 90% dependent on oil revenues, so belittling [the impact of falling oil prices] is a catastrophe that cannot go unmentioned,” he said.
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UNSCUN Backs New Yemeni PM Nominee
The United Nations Security Council has welcomed Yemeni President Abed Rabbo Mansour Hadi's appointment of a new prime minister, the latest move in an effort to overcome several years of political turmoil in the country.
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PKKTurkish warplanes hit Kurdish rebels as tensions stoked by Islamic State fight
Turkish warplanes have carried out airstrikes against an outlawed Kurdish group for the first time since a 2013 cease-fire, reports said Tuesday, in attacks that underscored the regional political spillover from battles against the Islamic State.
- Washington Post - Islamic State third Iraqi army base in Anbar after military retreat
- Wall Street Journal - ISIS Gains Territory Despite Weeks of Bombing by U.S., Allies, Raising Questions About Strategy
- Reuters - Islamic State forces 180,000 to flee in Iraq
- BBC - Islamic State crisis: Kurds 'recapture key Kobane hill'
- New York Times - Islamic State Propagandists Admit Sexual Enslavement of Yazidis
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Travel and TourismNew tourism strategy to create more jobs in Saudi Arabia
Saudi Arabia will use tourism as an economic tool to create more jobs for Saudis as well as to develop small and medium enterprises (SMEs), according to the revised tourism strategy, approved by the Shoura Council on Monday.
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Military StrategyAnalysis: America’s Big Military Mistake: Cutting Land Forces Too Quickly
In the 1920s, the advent of the airplane was going to make all forms of combat on land obsolete. That turned out badly wrong. In the 1950s, nuclear weapons were going to replace traditional ground forces for many missions. That left the Army unprepared for Vietnam in the 1960s, and it resorted to a firepower-heavy form of warfare that was arguably its least impressive wartime performance in American military history. In the 1980s and 1990s, fresh off Vietnam, the Army itself decided not to prepare for such counterinsurgency scenarios any longer. That worked out fine for Operation Desert Storm in 1991 but much less well for the wars in Iraq and Afghanistan.
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SocietySaudi women in Shoura Council ‘an important landmark’
One of the most important landmarks of the era of Custodian of Two Holy Mosques King Abdullah was allowing women to participate for the first time in the Shoura Council, said a researcher from King Faisal University in Abha, Al-Riyadh daily reported.
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AutomotiveSaudi Arabian auto parts demand valued at $3.8bn
Demand for automotive spare parts in Saudi Arabia has been valued at $3.8bn, according global analysts Frost & Sullivan.
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Rebuilding EgyptEgypt Needs More Investments, Not Aid
First the good news: Egypt’s foreign reserves ticked up to $16.87 billion at the end of September – enough to comfortably cover imports for more than three months as the country’s economy strengthens and foreign investors continue to buy Cairo-listed stocks.
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KobaneU.S. frustration rises as Turkey withholds military help from besieged Kobane
“They want the U.S. to come in and take care of the problem,” a senior official said, but the Pentagon has said U.S. strikes alone can’t drive the Islamic State from Kobane, on Turkey’s border.
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Tadawul OpeningSaudi capital markets regulator seeks local opinion on stock market liberalization
The Saudi capital markets regulator is seeking the opinions of stock market analysts, economists and a host of other local financial experts on final steps to liberalize the country’s stock market for foreign investment, informed sources have told Asharq Al-Awsat, as the bourse prepares to launch the region’s biggest-ever IPO later this month.
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