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QUOTED
“The intensifying US-China rivalry will make accessing both tech ecosystems increasingly difficult, impacting supply chains, intellectual property and talent flows.” Mohammed Soliman, director for strategic technologies and cybersecurity at the Middle East Institute, China-US tech tensions threaten GCC telecom strategy [Arabian Gulf Business Insight]
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TOP STORY
The 47th edition of the Dakar Rally, the world’s most grueling motorsport event, will take place in Saudi Arabia January 3-17. This is the sixth consecutive year it has been held in the kingdom. [more]
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MORE TOP STORYLINES
Via Robin Mills in agbi.com: The oil price is currently a bit lower than the GCC countries would like it, set to end the year at around $74 per barrel for Brent crude. At this price, Saudi Arabia and Kuwait run moderate budget deficits, while the UAE, Qatar and Oman will record decent surpluses. Revenues are high enough to avoid a crisis and provide ample funds for growth; low enough to encourage reform and ward off complacency. So GCC energy policies in 2025 have the following recipe: maximise oil and gas revenues, continue development and reform of the traditional petroleum sector, and expand into new energy and related businesses, both at home and abroad. Opec+ has not enjoyed a successful year. Despite continuing its production restraint, including extension of the voluntary cuts by some members throughout 2024, oil prices ended in virtually the same place as they began. They have slipped steadily since briefly topping $91 per barrel in April.
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in arabianbusiness.com: Riyadh’s King Khalid International Airport has been named winner in both the ‘Large’ and ‘Global’ Airport categories in Cirium’s 2024 On-Time Performance report. It was a double celebration for Saudi Arabia as Saudia was a close runner-up with 86.35 per cent among the airlines. Saudi was second only to Aeromexico, Mexico’s flag carrier, which was named the most On-Time ‘Global Airline’ in 2024 with a 86.7 per cent on-time rate. American giant Delta Air Lines secured third place with 83.46 per cent. Qatar Airways, with 82.83 per cent on-time arrivals and 82.56 per cent on-time departure, was placed fifth globally, one place behind LATAM Airlines at fourth.
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Via Valentina Pasquali in agbi.com: Gulf countries risk being dragged into the great power “rivalry” between China and the United States when it comes to advanced technology, forcing them to pick a side. As high-tech restrictions are rolled out by Beijing and Washington, the days of buying state-of-the-art semiconductors from the US while installing China’s 5G networks might be over, according to industry insiders. Mohammed Soliman, director for strategic technologies and cybersecurity at the Middle East Institute, says GCC countries have so far managed to strike a balance between exploiting Chinese technology and maintaining strong ties with the US. “However, the intensifying US-China rivalry will make accessing both tech ecosystems increasingly difficult, impacting supply chains, intellectual property and talent flows,” Soliman warns.
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MORE ON THE KINGDOM AND BEYOND
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Saudi Arabia has finalised an arrangement for securing a shariah-compliant revolving credit facility worth $2.5 billion, the...[By Enas Alashray and Ahmed Tolba via reuters.com]
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Dakar Rally drivers and riders recount Stage 2 of the event, where competitors took two days to traverse nearly 1000 km....[via youtube.com]
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Saudi Arabia's Public Investment Fund plans to raise $7 billion from its first murabaha credit facility, as the fund diversifies its funding...[By Aarti Nagraj via thenationalnews.com]
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Saudi Arabia raised $12 billion from global debt markets in a three-part bond sale, attracting strong investor...[By Rachna Uppal and Enas Alashray via reuters.com]
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Saudi Arabia’s Interior Ministry confirmed that the provisions of the “Use of Security Surveillance Cameras” law prohibit the transfer or publication of security surveillance camera...[via arabnews.com]
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Among the venues announced Tuesday for the 24-team regional competition were the 70,000-capacity King Fahd Sports City Stadium and King Saud University Stadium, both in...[via france24.com]
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That the Gulf’s various sovereign wealth funds have become some of the most dominant players in global dealmaking has rarely been in...[By Matthew Martin via bloomberg.com]
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Saudi Arabia’s water sector witnessed significant shifts in 2023, with a 31 percent increase in desalinated seawater production, now comprising 50 percent of the country’s...[via azernews.az]
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Saudi Arabia will need estimated funding of SAR139 billion ($37.02 billion) in 2025 to cover the potential budget deficit. Finance minister Mohammed Al Jadaan has approved...[By Pramod Kumar via agbi.com]
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Saudi Coffee Company has launched its second annual Saudi Sip of Excellence Competition in partnership with the global nonprofit Alliance for Coffee Excellence. Designed...[By April Hawksworth via gcrmag.com]
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Saudi Arabia, one of the largest bond issuers in emerging markets last year, has started 2025 with a funding spree as the country fuels its...[By Abeer Abu Omar and Matthew Martin via yahoo.com]
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Jeddah King Abdulaziz International Airport and Riyadh King Khalid International Airport each posted record passenger traffic in 2024, reflecting the continuing strong performance of aviation...[By Dermot Davitt via moodiedavittreport.com]
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A U.S. Army veteran who killed 14 people by ramming a truck into a crowd of New...[By Brian Thevenot and Arathy Somasekhar via reuters.com]
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The foreign ministers of Germany and France said they wanted to forge a new relationship with ...[By Miranda Murray via reuters.com]
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The overthrow of the former Syrian president, Bashar Al-Assad, has brought calls for the revival of the now-defunct pipeline that once carried crude oil from...[By Nadim Kawach via agbi.com]
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Israeli Prime Minister Benjamin Netanyahu has returned to his “evasive approach” in the Gaza ceasefire talks, hindering negotiations, an Egyptian source has told the ...[via middleeasteye.net]
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The 20-fold funding increase aims to boost Tel Aviv’s narrative and justification of its war against the besieged enclave while portraying the Palestinian struggle...[via middleeastmonitor.com]
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As America’s premier air superiority fighter, the F-22 was designed to take on advanced enemy aircraft, capable of maneuvering stealthily and cruising at supersonic speeds. But...[By Chris Gordon via airandspaceforces.com]
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