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Report Says ‘Comprehensive Solution’ for Yemen Civil War under Negotiation between Saudi Arabia, Houthis
Saudi Arabia and armed Houthi forces are holding heretofore secret talks to try to end the three-year-old war, diplomats and Yemeni political sources told Reuters. Two diplomats and two Yemeni officials said Houthi spokesman Mohammed Abdul-Salam had been in direct communication with Saudi officials in Oman on a “comprehensive solution” to the conflict, the report said. “There are consultations […]
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Saudi Government Aims for $57 Billion Growth in Mortgage Industry by 2020, Report Says
Saudi Arabia’s housing ministry has set a target for the mortgage market to reach a total value of 502 billion riyals ($134 billion) by 2020 from a current 290 billion riyals ($77.3 billion), according to a report in Reuters which cited the Kingdom’s minister of housing Majed al-Hogail. That goal can be reached through new efforts […]
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Flurry of Deals as Crown Prince Mohammed bin Salman Visits Egypt
After a unique military escort given by Egyptian fighter jets and a warm welcome from Egypt’s top leaders upon arrival, Saudi Arabia’s Crown Prince Mohammed bin Salman wasted little time in dealmaking with Egypt’s President Abdel Fattah El-Sisi. The two countries moved forward on several major agreements. Saudi Arabia and Egypt agreed to set up a $10 […]
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Reports Confirm Mohammed bin Salman to Visit U.S. in March; Schedule Remains Unclear
Conflicting reports have emerged in the U.S. media in the past 24 hours surrounding an expected visit by Crown Prince Mohammed bin Salman to the United States this month. Last night, an exclusive report by Joyce Karam for The National said the Crown Prince would visit the United States for a longer visit, starting March […]
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Another Opening for Saudi Women as Government OKs Women in Security Forces
Saudi’s General Security division announced that soldier rank positions will be available for Saudi women in several different regions of the country, as the Kingdom continues opening up new professions for Saudi women. Saudi women who meet twelve different standards will now be permitted to serve in security forces in soldier rank positions. According to reports, […]
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Saudi Arabia Aims for over 1000% Increase in Entertainment Sector Employment this Year as Massive Investment Planned
Saudi Arabia is betting big on the entertainment sector to boost job creation and provide for a more vibrant society with a whopping $64 billion planned to spend in the next decade, according to the head of the General Entertainment Authority Ahmed Al-Khatib. Al-Khatib said that the investment and development is already underway, and that the […]
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Russian, Chinese Interests ‘Eager’ to Invest in Saudi Aramco IPO as Cooperation Heats Up
The head of the Russian Direct Investment Fund (RDIF) said in Riyadh today there is “significant interest” to invest in the forthcoming Aramco IPO from Russia and from China, according to reports. Several banks and other groups in Russia are interested in investing in shares of Aramco, according to Bloomberg, which reported comments from Kirill Dmitriev, chief […]
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Saudi Embassy Spokeswoman: ‘The Kingdom is not Easternizing or Westernizing, it’s Modernizing’
The first spokeswoman for the Royal Embassy of Saudi Arabia, Fatimah Baeshen, said in an interview that the Kingdom is not sacrificing culture or values with its Vision 2030 economic and social reform program and that the program has “something for everyone” in Saudi Arabia. The well-spoken Baeshen, who was appointed by Saudi Arabia’s Ambassador to the […]
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Saudi Arabia’s King Salman Orders $2b ‘Deposit’ to Yemen to Shore Up Currency
Saudi Arabia’s King Salman ordered a $2 billion transfer to the Yemeni central bank, according to reports, as the Kingdom looks to shore up the economy of its war-torn southern neighbor. The Saudi Ministry of Culture and Information (MoCI) said in a statement that the money is meant “to address the deteriorating economic situation” in Yemen. “All […]
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U.S. to Ramp Up Crude Oil Production by 10% in 2018
The United States is poised to ramp up crude oil production by 10% in 2018 to about 11 million barrels per day, research firm Rystad Energy has said, which would make the U.S. the world’s largest producer. The expected surge in shale oil output “should allow the United States to dethrone Russia and Saudi Arabia as […]
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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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Saudi Human Resource Firm’s IPO Fully Covered in First Hour
Tamkeen is seeking to raise up to 398 million riyals ($106 million) by selling a 30% stake, or 7.95 million shares, on the local stock exchange, the company said in a statement earlier. Institutional investors covered the order book across the price range of 46 riyals to 50 riyals a share, people familiar said, asking not to be identified.
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Saudi’s MbS will not attend Russia’s BRICS summit
Saudi Crown Prince Mohammed bin Salman is not expected to attend a Russian-hosted BRICS summit later this month, according to the Kremlin, which said the world's biggest oil exporter would be represented by the kingdom's foreign minister. The BRICS group originally consisted of Brazil, Russia, India, China and South Africa, and has expanded to include Ethiopia, Iran, Egypt and the United Arab Emirates and others. Two sources with direct knowledge of the matter told Reuters in January that Riyadh was still considering the invitation to join BRICS.
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Saudi Arabia Deploys Tornado Fighter Jets for Exercise in Pakistan
The Royal Saudi Air Force has deployed six Panavia Tornado fighter jets for the Indus Shield 2024 air exercise in Pakistan, where Turkey and Egypt also showcased their military capabilities and explored opportunities for enhanced cooperation. The drill allowed each nation to discuss and exchange best practices on the latest technologies, strategies, and operations. In addition to Riyad’s Panavia Tornados, the Turkish Air Force contributed with F-16s, the Egyptian Air Force sent Mirage 2000s, and Pakistan deployed J-10C fighter jets.
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