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  • Saudi oil may keep a lid on Middle East fallout

    Israel’s war in Gaza has certainly had savage economic consequences – year-on-year GDP in the Palestinian enclave fell 86%, opens new tab in January 2024, the World Bank says. But oil prices – the obvious way for the conflict to hit the global economy – have mostly hovered in the $70s and $80s a barrel region. Major hostilities on Israel’s northern border with Hezbollah were assumed to be the key reason to make them spike higher. The doomsday scenario would be for Iran to shut the Strait of Hormuz, through which a fifth of the global oil supply passes daily.

  • Saudi unemployment drops again in second quarter

    The unemployment rate for Saudi nationals fell to 7.1 percent in the second quarter of 2024, government data shows, down from 7.6 percent in the first quarter and 8.5 percent in the same period a year ago. The overall unemployment rate, which includes expatriate workers, dropped to 3.3 percent in Q2, down from 4.1 percent in 2023, according to the General Authority for Statistics’ latest labour force survey.

  • Saudi Arabia targets $1.7 trillion in tourism infrastructure by 2030

    Official data indicates that as of June 2024, the kingdom has 255 tourism infrastructure projects valued at $1.7 trillion, aligning with its Vision 2030 goal to attract 150 million visitors annually.

  • Unemployment among Saudi citizens falls to 7.1% in Q2

    Unemployment among Saudi citizens continued to decrease in the second quarter, falling to 7.1%, according to government data released on Monday, down from 7.6% in the previous quarter, and from 8.5% in the same period a year earlier. The overall rate of unemployment, which includes expatriate workers, fell to 3.3% in Q2, down from 4.1% in the prior year period, the General Authority for Statistics said.

  • Saudi Arabia stresses need to ‘preserve Lebanon’s sovereignty, territorial integrity’

    Saudi Arabia has stressed “the need to preserve Lebanon’s sovereignty and territorial integrity” amid ongoing Israeli strikes on the country, the Kingdom’s Ministry of Foreign Affairs said in a statement issued on Monday. “The Kingdom of Saudi Arabia is following with great concern the developments taking place in the Republic of Lebanon,” the statement continued, adding that it “affirms its solidarity with the Lebanese people against the repercussions of these events and the need to limit their humanitarian consequences.”

  • Saudi Arabia announces monthly financial support to address humanitarian situation in Gaza

    Saudi Arabia on Sunday announced the provision of monthly financial support to Palestinians to help address the humanitarian situation in the Gaza Strip and its surroundings. The support comes as a continuation of the humanitarian and development aid provided by the Kingdom to the Palestinian people in the past, which amounts to more than $5.3 billion.

  • Saudi FDI dips ahead of looser laws in 2025

    Saudi Arabia received $9.7b of FDI inflows in the first half of 2024, according to data from the Saudi General Authority for Statistics. The kingdom was targeting $29b of FDI inflows by the end of the year, a goal which would require a significant turnaround in the coming months. The data comes ahead of the implementation of updated FDI laws meant to entice foreign investment.

  • Aside from Israel, Lebanon needs to be protected from another enemy: itself

    If Iran, and its militias, fail to respond, it means Israel also wins psychologically yet again. If Hezbollah retaliates as a group, or if any of its followers worldwide acts individually, this would distract global public opinion from the mounting accusations of war crimes committed in Gaza and Lebanon, and allow the Israeli government to repeat, yet again, that it is only defending itself.

  • Is a regional war between Israel and Iran inevitable?

    In terms of its impact on the Arab world, some have compared Nasrallah’s killing to the defeat of Egypt’s Gamal Abdel Nasser in 1967. Nonetheless, since Israel assassinated Nasrallah, the Lebanese organisation has attempted to project continuity, in terms of both its leadership and decades-long armed struggle against Israel. There has also been celebration in north-western Syria’s rebel-controlled Idlib governorate, where much hatred for Hezbollah still exists due to the group’s intense intervention in the Syrian crisis, beginning with the 2013 battle for Qusayr.

  • Iran’s ‘Axis of Resistance’ Outmatched By Israeli Intelligence And Weapons

    Past experiences suggest that Iran’s response will be cautious unless it has confidence that it can catch Israel off guard. That certainly occurred last Oct. 7, when Hamas stormed out of Gaza into southern Israel, killed 1200 Israelis, and took several hundred as hostages. But more recently, the intelligence advantage has been on Israel’s side, as evidenced by the methodical takedown of Hezbollah communications and personnel.