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Fragile Ceasefire in Key Yemen Port Broken with Fresh Fighting after Cross-Border Drone Attack on Saudi Oil Pipelines
Fresh fighting broke out in a key port in Yemen yesterday, breaking a fragile cease-fire and threatening to complicate a troop withdrawal agreement intended to pave the way for wider peace talks, according to reports. Hodeidah port on the Western coast of Yemen “is a lifeline for millions of Yemenis threatened by starvation because of the war […]
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70 Percent Increase in New Licenses for Foreign Businesses in First Quarter, Al-Omar Says
The number of new licenses approved for foreign businesses in Saudi Arabia rose by 70 percent in the first quarter from a year earlier, the head of Saudi Arabia’s General Investment Authority (SAGIA) said. According to Bloomberg, applications from British and Chinese companies drove the increase, rising by 86 percent and 71 percent, respectively. The data […]
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Senate Overwhelmingly Confirms John Abizaid as US Ambassador to Saudi Arabia
The Senate overwhelmingly voted to confirm retired Gen. John Abizaid as the new US Ambassador to Saudi Arabia on Wednesday in a 92-7 vote, paving the way for the former head of then U.S. Central Command to be the first person to fill the post since President Trump took office. President Trump’s choice for the next U.S. Ambassador to Saudi […]
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House, Senate Vote to End U.S. Support of Yemen War, Setting Stage for Trump Veto
The U.S. House of Representatives approved a resolution on Thursday that would end all U.S. involvement with the Saudi Arabia-led coalition in the war in Yemen, Reuters reports. President Trump is likely to veto the resolution, the second veto of his presidency. The vote in the House was 247-175. 16 Republicans joined the majority Democrats in […]
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Saudi Aramco Opens its Books, Officially the World’s Most Profitable Company
State-owned Saudi Aramco is the world’s most profitable firm, eclipsing global heavyweights like Apple and Samsung, according to new data revealed ahead of a major bond issuance. Saudi Aramco’s earnings last year before interests, taxes, and depreciation stands at $224 billion, almost three times as much as Apple. Net income last year was $111.1 billion. The revelation of […]
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Oil Notches Third Straight Week of Gains, but Global Economy Fears Still Weigh on Prices
Concerns that a looming economic slowdown might soon impact fuel consumption around the world are weighing down oil prices after Saudi Arabia and the OPEC+ group of oil producing nations have successfully reversed a downward trend for oil since the start of 2019. Brent hit a four-month high of $68.69 per barrel on Thursday, up from $51 […]
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Senate Passes Joint Resolution to End U.S. Military Support for Saudi-Led Coalition in Yemen
The U.S. Senate passed a resolution Wednesday to end American support for the Saudi-led, U.N.-backed coalition in Yemen, issuing a challenge to President Donald Trump to use his first veto of his Presidency. The bill, entitled “A joint resolution to direct the removal of United States Armed Forces from hostilities in the Republic of Yemen that have not […]
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Large Quantities of Natural Gas Discovered in Red Sea, Al-Falih Says
Large quantities of gas have been discovered in the Red Sea, the official Saudi Press Agency said, citing comments made by Minister of Energy Khalid Al-Falih. Al-Falih said that Saudi Aramco will intensify exploration work over the next two years after completion of a feasibility study. Falih also said Saudi Aramco was studying possible Liquified Natural Gas (LNG) project […]
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Latest Economic Data Shows Continued Improvement in Saudi Economy, Jadwa Investment Says
Latest economic data from Jadwa Investment’s March 2019 economic chartbook shows more positive signs for the Saudi economy. Economic data reviewed by Jadwa for the month of January showed improvements for the economy, including a 32 percent rise in POS transactions, and a rise in non-oil PMI to its highest level since December 2017, the Riyadh-based bank said. […]
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Saudi Crown Prince Mohammed bin Salman arrives in China
Saudi Crown Prince Mohammed bin Salman arrived in China on Thursday, the third stop of his tour of Asian nations that started with visits to Pakistan and India. The Crown Prince is slated to meet Chinese President Xi Jin Ping during the official visit. China is Saudi Arabia’s largest trading partner, ahead of the United States. At […]
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Khamenei says Israel will not defeat Iran as strikes pummel Lebanon
Supreme Leader Ayatollah Ali Khamenei said on Friday that Iran and its regional allies will not back down, after an Israeli attack on Beirut that is thought to have targeted the heir apparent to the assassinated leader of Tehran-backed Hezbollah. Iran raised the stakes when it fired missiles at Israel on Tuesday, partly in retaliation for Israel's killing of Hezbollah secretary general Sayyed Hassan Nasrallah, a towering figure who turned the group into a powerful armed and political force with reach across the Middle East.
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Emails show early US concerns over Gaza offensive, risk of Israeli war crimes
As Israel pounded northern Gaza with air strikes last October and ordered the evacuation of more than a million Palestinians from the area, a senior Pentagon official delivered a blunt warning to the White House. The mass evacuation would be a humanitarian disaster and could violate international law, leading to war crime charges against Israel, Dana Stroul, then the deputy assistant secretary of defense for the Middle East, wrote in an Oct. 13 email to senior aides to President Joe Biden. Stroul was relaying an assessment by the International Committee of the Red Cross that had left her “chilled to the bone,” she wrote.
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Saudi Arabia, UAE, Qatar, Bahrain, Kuwait Not to Allow U.S. Airbases to Be Used Against Iran
Urgent calls for de-escalation dominated the discussions, with regional leaders expressing fears that an extended conflict could jeopardize key oil installations. Although Iran has not directly threatened Gulf oil facilities, it has hinted that intervention from "Israel supporters" could lead to retaliation against their interests in the region. According to Saudi commentator Ali Shihabi, Gulf states believe an Iranian strike on their oil facilities is unlikely, but are cautious given the hints conveyed through unofficial channels.
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Middle East conflict triggers 12% plunge in global cryptocurrency market, Bitcoin falls to $60,750: Experts
Escalating conflict in the Middle East has taken a heavy toll on the global cryptocurrency market, plunging total market volume by over 12 per cent over the last 24 hours to $81.11 billion. The crash in the market volume has brought the global cryptocurrency market cap to $2.11 trillion on Friday, close to a 1 per cent decline from the previous day and a massive 30 per cent fall from its all-time high of $3 trillion.
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Saudi Arabia Railways Joins EULYNX Signalling Consortium
Saudi Arabia Railways (SAR) has officially joined the EULYNX Consortium, making it the first organisation outside of Europe to become part of the group. The EULYNX Consortium is an international collaboration of leading European railway infrastructure managers dedicated to the standardisation and modernisation of railway signalling systems.
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Gulf region remains a bright spot amid global uncertainty, IMF says
Despite numerous shocks over the past few years, the GCC region remains a “bright spot” amid global uncertainty, according to Kristalina Georgieva, managing director of the International Monetary Fund. Unemployment remains low, inflation is under control, major port exports have rebounded and international flight arrivals remain stable, Ms Georgieva told the annual GCC ministerial meeting in Doha on Thursday.
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Foreign ministers of GCC and Iran meet to address escalating tensions in the region
Albudaiwi said that the meeting discussed the increasing escalation in the region and its serious repercussions on regional and international peace and security. He stressed on the urgency of de-escalation, exercising maximum restraint, and sparing the region further instability from the dangers of wars and destruction, and their effects on the peoples of the region and the world.
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Qatar: Minister of Finance spotlights huge GCC financial and economic accomplishments
He noted that the GCC is expected to achieve a 4.7-percent growth rate in 2025, up from 2.4 percent in 2024, and largely outperforming the relatively weak 2023 rates due to oil production reduction as part of efforts to support prices.
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Gulf states sought to reassure Iran of their neutrality in Iran-Israel conflict, sources say
Gulf Arab states sought to reassure Iran of their neutrality in the conflict between Tehran and Israel in meetings in Doha this week on the back of concerns that a wider escalation in violence could threaten their oil facilities, two sources told Reuters. Ministers from Gulf Arab states and Iran attending a meeting of Asian nations hosted by Qatar centred their conversations around de-escalation, the sources said.
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Saudi foreign minister: A two-state solution is more urgent than ever
A two-state solution is not merely an ideal; it is the only viable path to ensuring Palestine, Israel and the region’s long-term security. Uncontrolled escalatory cycles are the building blocks of wider war. In Lebanon, we are witnessing this first hand. Peace cannot be built on a foundation of occupation and resentment; true security for Israel will come from recognising the legitimate rights of the Palestinian people. By embracing a solution that allows both peoples to coexist in peace, we can dismantle the cycle of violence that has entrapped both sides for far too long.
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