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Those banking on a rebound in oil prices shouldn’t look down. Downstream, that is.
“The Cold War was easy compared to where we are today,” the secretary of State said Thursday, during an appearance at The Atlantic‘s Washington Ideas Forum, an annual event that features high-profile speakers in government and the private sector. For the U.S. as a superpower, Kerry said, managing many countries’ competing interests is more difficult than dealing with just one other superpower, like the Soviet Union back then.
Boeing said on Wednesday it had sold aircraft-related goods to Iran Air in the third quarter, marking the first acknowledged dealings between U.S. aerospace companies and Iran since the 1979 U.S. hostage crisis. The Chicago-based aerospace and defense company said in a filing that it sold aircraft manuals, drawings, navigation charts and data to Iran Air to help improve the safety of Iran's civil aviation industry.
China Petrochemical Corp., Sinopec’s state-owned parent, signed an agreement with Aramco in January 2012 to develop a refinery in the Saudi city of Yanbu at a cost of as much as $10 billion. The 400,000 barrel-a-day plant may start this year, Saudi Aramco Chief Executive Officer Khalid al-Falih said at the time.
Turkey's President Recep Tayyip Erdogan this week unveiled his new palace in the outskirts of the country's capital, Ankara. The gaudy residence boasts 1,000 rooms and apparently cost some $350 million to construct. Its total area, according to the AFP, encompasses some 2,150,000 square feet.
The Middle East is going through many developments, most notably the fluctuations of Saudi-Iranian ties, which affect the future of the countries in the region including that of Lebanon.
Saudi Arabia said late on Wednesday it had detected six new cases of the deadly Middle East Respiratory Syndrome (MERS) in 24 hours, the biggest daily jump for months with officials blaming lax hospital procedures.
The relationship between these two administrations— dual guarantors of the putatively “unbreakable” bond between the U.S. and Israel—is now the worst it's ever been, and it stands to get significantly worse after the November midterm elections. By next year, the Obama administration may actually withdraw diplomatic cover for Israel at the United Nations, but even before that, both sides are expecting a showdown over Iran, should an agreement be reached about the future of its nuclear program.
The US issued a security warning against terrorist attacks on western schools in the Middle East, including one in Cairo's south district of Maadi. The warning from the US State Department's Bureau of Diplomatic Security cited an "anonymous" post on a jihadist website, which it said "encouraged attacks against American and other international schools in the Middle East, including western teachers employed at these schools."
The Shoura members said that the Statistics Agency was not providing accurate figures on the number of unemployed women, creating confusion in chalking out a plan to increase their numbers in the work force.