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  • Saudi Arabia has a big plan for oil that could hammer Russia’s war machine, economists warn

    Cooper pointed out that because Saudi Arabia's and Iran’s oil wells are closer to the surface, they are cheaper to extract. Russia, on the other hand, has to spend more on production costs to extract its deep oil wells, reducing its margins. “The simplest explanation is the right one: Russia’s GDP growth stems from a massive boost in spending on defense,” Hedlund wrote in Geopolitical Intelligence Services.

  • Saudi Arabia stops granting new licenses for delivery bikes

    Saudi Arabia witnessed massive expansion and flourishing of delivery services via electronic platforms following the outbreak of coronavirus pandemic. This provided vast opportunities for making investments and expanding businesses apart from generating job opportunities in this thriving sector. Al-Zuwayed revealed earlier that the growth of the light freight transport activity in Saudi Arabia was accompanied by an increase in the number of motorcycles that provided their services to the activity, indicating that the growth of the light freight transport activity in the first quarter of this year amounted to 38 percent compared to the first quarter of 2023.

  • Caves in Saudi Arabia’s northern region are windows to history, gates to adventure

    At least 542 caves and sinkholes discovered in Saudi Arabia’s Northern Borders region offer more destinations for the increasing number of tourists, adventurers and researchers interested in these structures, the Saudi Press Agency reported on Sunday. Of varying shapes, these structures offer a glimpse into the past with their unique geological formations, said the report, quoting Burjas Al-Falih, a speleologist and a member of the Afaq Society for Astronomy.

  • Israel kills at least 50 in Gaza, tanks deepen raid in the north

    Israeli military strikes killed at least 50 Palestinians across the Gaza Strip as Israeli forces tightened their squeeze around Jabalia in the north of the enclave on Tuesday, amid fierce battles with Hamas-led fighters. Palestinian health officials said at least 17 people were killed by Israeli fire near Al-Falouja in Jabalia, the largest of Gaza's eight historic refugee camps, while 10 others were killed in Bani Suhaila in eastern Khan Younis in the south when an Israeli missile struck a house.

  • UN refugee agency says 25% of Lebanon under Israeli evacuation orders

    Israel, which began incursions into south Lebanon two weeks ago to battle Iran-backed militant group Hezbollah, has issued military evacuation orders affecting more than a quarter of the country, the U.N. refugee agency said on Tuesday. The figures underscore the heavy price Lebanese are paying as Israel steps up its campaign to defeat Hezbollah and destroy its infrastructure in their one-year conflict.

  • Global EV sales up 30.5% in September as China shines, Europe recuperates

    Global sales of fully electric and plug-in hybrid vehicles rose by an annual 30.5% in September, as China surpassed its record numbers recorded in August and Europe resumed growth, market research firm Rho Motion said on Tuesday. Gains in the U.S. market have been slow and steady in anticipation of the Nov. 5 election, which makes it difficult to predict future trends in the country, data manager Charles Lester told Reuters.

  • US missile system in focus as Iran warns against strike by Israel

    The Joe Biden administration’s decision to deploy an anti-missile system to Israel and send US troops to operate it has drawn a strong reaction from Iran. This comes as a senior Islamic Revolutionary Guard Corps (IRGC) commander has warned of strong retaliation if Israel goes through with its pledged strike in response to Iran’s recent missile attack.

  • Kremlin backtracks from comments on Saudi BRICS membership

    The Kremlin rowed back on Tuesday from earlier comments describing Saudi Arabia as a member of the BRICS group of countries, and left open the question of whether the kingdom would be represented at a BRICS summit in Russia next week. Saudi Arabia has been invited to join BRICS but has not yet formally done so. Last week, however, Kremlin aide Yuri Ushakov described it as a BRICS member and said its foreign minister would attend the summit in the Russian city of Kazan.

  • Saudi Arabia’s inflation rate inches up to 1.7% in September

    Saudi Arabia's annual inflation rate edged up to 1.7% in September, from 1.6% in August, government data showed on Tuesday, with increases in housing rents the main driver once again. Overall housing rents rose by 11.2% in September, according to the General Authority for Statistics, driving up prices for the combined Housing, Water, Electricity, Gas and Other Fuels category which jumped 9.3%. Rental price hikes have been the key driver of inflation in Saudi Arabia for much of this year.

  • US OKs Sale of 220 Sidewinder Missiles to Saudi Arabia

    The US has approved the $251.8-million sale of AIM-9X Block II Sidewinder Missiles and related support to the Kingdom of Saudi Arabia.  The deal includes 220 Raytheon AIM-9X Block II Sidewinder Tactical Missiles, missile containers, support equipment, spares, missile software, training, and related technical assistance and program support.