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Pressure builds on Yemen’s warring parties as peace talks focus on port

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RIMBO, Sweden (Reuters) – Yemen’s warring parties are being pressed to agree thorny confidence-building measures, including the status of a strategic Red Sea port, in consultations on Wednesday before the close of the first U.N.-led peace talks in two years. United Nations Secretary-General Antonio Guterres is due to attend final talks in Sweden on Thursday to support his envoy’s efforts ... Read More »

Common oil and gas markets, digital economy, customs duties on agenda of EAEU summit

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MOSCOW: A meeting of the Supreme Eurasian Economic Council will be held in St. Petersburg on 6 December. It will be attended by the presidents of the Eurasian Economic Union member states and the president of Moldova, which is an observer country at the Eurasian Economic Union, BelTA learned from the Kremlin press service. “The forthcoming meeting of the Supreme ... Read More »

Preparations Complete for Sunday’s 39th GCC Summit in Saudi Arabia

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The 39th Gulf Cooperation Council Summit will kick off in Riyadh on Sunday with discussions set to focus on bolstering Gulf cooperation and security affairs. Custodian of the Two Holy Mosques King Salman bin Abdulaziz will chair the meeting. The gatherers are expected to underline the strategic partnership that binds the member-states and bolster the GCC’s standing on the regional ... Read More »

Saudi Arabia’s ICD to introduce blockchain-based Islamic banking solutions

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Islamic Corporation for the Development of the Private Sector’s agreement with Tunisia-based I-FinTech Solutions will focus on developing products designed to solve liquidity issues The Saudi-based Islamic Corporation for the Development of the Private Sector (ICD) has penned an agreement with a Tunis-based fintech company to develop blockchain solutions for Islamic banks, it has been announced. In a statement, the ... Read More »

Oil surges on Saudi-Russia agreement, Alberta production curb

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Moscow : Oil rebounded from the biggest monthly loss in a decade after Russia and Saudi Arabia agreed to extend their deal to manage the oil market into 2019 and Canada’s largest oil producing province ordered an unprecedented output cut. Brent rose as much as 5.3 per cent in London, after prices collapsed more than 20 per cent last month. ... Read More »

Saudi Arabia’s King Salman lays foundation stone for Arar Port mega-project

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King Salman bin Abdulaziz of Saudi Arabia has laid the foundation stone for the Arar Port Development Project, a mega-development that straddles the Saudi and Iraqi borders. The port will be developed over an area of 1,666,771 square meters, almost the same size as the Principality of Monaco, with a total value of AED 254-million (US $69-million). Arar Project will ... Read More »

Saudi Arabia’s growing influence in Southeast Asia

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Riyadh:The revelation of Jamal Khashoggi’s murder inside the Saudi consulate in Turkey is harming Saudi Arabia’s international relations, including with Muslim majority Southeast Asian countries Malaysia and Indonesia. Malaysian Prime Minister Mahathir Mohamad closed the Saudi-backed King Salman Centre for International Peace. Malaysia is also withdrawing troops from Saudi Arabia. In Indonesia, in addition to uneasiness about Khashoggi’s fate, people ... Read More »

President Trump’s Business Ties to Saudi Arabia

President Donald Trump listens during a roundtable on immigration policy in California, in the Cabinet Room of the White House, Wednesday, May 16, 2018, in Washington. (AP Photo/Evan Vucci)

Saudi Arabia :In an exclamation point-laden statement released by the White House on 20 November 2018, President Donald Trump contradicted a reported Central Intelligence Agency finding that Saudi crown prince Mohammed bin Salman not only knew about, but actually ordered the assassination of critic and Washington Post columnist Jamal Kashoggi. Maybe bin Salman did know about it, the statement read, ... Read More »

Oil price rises as Saudi Arabia pledges supply cut

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Saudi Arabia : Neil Wilson of Markets.com points out that any official oil output cut will require co-operation between Opec members, and Russia too. As mentioned earlier, Moscow may not be persuaded that they should cut production to get the oil price up again. “Saudi Arabia has announced a cut to December crude output, a sign that it’s prepared to ... Read More »

Saudi Arabia calls for oil output cuts

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Saudi arabia : Speaking at a conference in Abu Dhabi, Saudi energy minister Khalid Al Falih said “there will need to be a reduction of supply from October levels, approaching 1 million barrels. Read More »

Saudi Arabia’s crisis is economic and demographic

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Saudi Arabia: AEI’s Karen Young participated in the Hoover Institution’s panel, “Saudi Arabia in crisis.” The panel was moderated by Samuel Tadros of the Hoover Institution, and included Elliot Abrams of the Council on Foreign Relations and Simon Henderson of the Washington Institute. Dr. Young’s remarks and commentary are presented below. A recording of the event can be viewed here. ... Read More »

Yanbu port receives largest ship in its history

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JEDDAH: Saudi Arabia’s Yanbu port has received the Jin Tai Feng, a ship carrying 82,498 tons of corn. It is 235 meters long and draws 13.50 meters. It is the largest ship the port has ever received. This comes after development projects launched last year by the Saudi Ports Authority to strengthen the services at the Kingdom’s ports and to ... Read More »

Electronic trading the new normal in Saudi Arabia

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RIYADH: The number of online stores registered on Maroof has increased to 20,000 in 15 diversified activities, according to a Ministry of Commerce and Investment 2018 third quarter report. The Maroof platform is an initiative that began in April 2016 to support e-commerce in the Kingdom under the supervision of the Ministry of Commerce with the cooperation of Thiqah Business ... Read More »

Mohammed bin Salman Isn’t Saudi Arabia’s First Fake Reformer

Saudi Crown Prince Mohammed bin Salman attends the Future Investment Initiative (FII) conference in the Saudi capital Riyadh on October 23, 2018. - Saudi Arabia is hosting the key investment summit overshadowed by the killing of critic Jamal Khashoggi that has prompted a wave of policymakers and corporate giants to withdraw. (Photo by FAYEZ NURELDINE / AFP)        (Photo credit should read FAYEZ NURELDINE/AFP/Getty Images)

Saudi Arabia : The murder of journalist Jamal Khashoggi at the Saudi consulate in Istanbul extinguished Saudi Crown Prince Mohammed bin Salman’s reputation in the United States and Europe as a liberalizing reformer of his country. What the West must now do is ask itself why Salman enjoyed such a reputation to begin with. This is not the first time ... Read More »

First Saudi oil tanker arrives in port of Aden

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Riyadh : The first Saudi ship arrived on Monday at the port of Aden, carrying the first batch of Saudi Arabia’s oil derivatives grant worth $60 million per month to supply power stations in all liberated Yemeni provinces as part of the Saudi program for the development and reconstruction of Yemen, Saudi Arabia’s Al-Arabiya television channel said. Over 60,000 tons ... Read More »

Cancelling Saudi Arabia arms deal would cost $1 billion: Trudeau

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Canada : Prime Minister Justin Trudeau says cancelling the controversial contract to sell armoured vehicles to Saudi Arabia would leave taxpayers on the hook for $1 billion. The comments come as the Liberal government is facing new pressure to cancel the deal amid international outrage over the killing of Saudi journalist Jamal Khashoggi earlier this month. Canada has added its ... Read More »

Saudi Aramco signs MoU with Zhejiang Petrochemical

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DAMMAM : Saudi Aramco recently inked a memorandum of understanding (MoU) with the government of the Chinese province of Zhejiang during the Second International Petroleum and Natural Gas Enterprises Conference (IPEC) to acquire a stake in a new refinery project of Zhejiang Petrochemicals Corporation, Saudi Press Agency said on Friday. “We are looking to increase our investment in China’s refineries ... Read More »

Saudi Arabia to establish special economic zone to woo foreign investors

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Saudi Arabia: Saudi Arabia is establishing a special economic zone (SEZ) at Riyadh’s King Khalid International airport in a bid to attract multinational investors to the kingdom, it was announced on Sunday. According to the Saudi Press Agency (SPA), the SEZ will focus on integrated logistics and will be governed by the country’s General Authority for Civil Aviation. The Saudi ... Read More »

Pakistan naval ship hosts Saudi officials, diplomats at Jeddah port

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JEDDAH : Capt. Shahid Wasif, commanding officer of Pakistan Naval Ship PNS Saif, hosted a dinner reception in honor of Saudi Navy officers, diplomats and Pakistani media and community representatives on board the vessel. Acting Consul General of Pakistan Shaiq Bhutto and officers of the consulate were present on the occasion. Capt. Tariq Al-Aseeri attended the reception representing the Saudi ... Read More »

Mike Pompeo to arrive in Saudi to meet King Salman

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US Secretary of State Mike Pompeo is on his way to Riyadh to speak to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz of Saudi Arabia over the disappearance of Jamal Khashoggi. Pompeo was in the air when a Turkish police forensics team wrapped up its hours-long search of the Saudi Consulate in Istanbul early Tuesday morning. ... Read More »