arab gulf states

Seeking Peace: GCC States on Regional Conflicts

Arab Gulf states express their frustration and envisage solutions to solve regional conflicts. By Elizabeth Dickinson Their voices were calm and measured, but as Gulf leaders addressed the U.N. General Assembly in New York this week, frustration was palpable. The Middle East today is in flames, and from Syria to Iraq to Yemen and Palestine,

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Bahraini Shiite Clerics Warn Against Targeting Muslim Sect

DUBAI, June 18 – Senior clerics warned on Saturday against any attempt to target Shiite Islam by undermining a pillar of the sect’s creed, the Khums tax, apparently following reports that authorities were investigating funds held by Bahrain’s top Shiite cleric. The warning could pave the way for a showdown between the Gulf Arab state’s

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Funding, Regulation Challenge Saudi Private Sector Drive

By Andrew Torchia and Marwa Rashad JEDDAH, Saudi Arabia, June 16 – After decades of government-led growth, Saudi Arabia is handing over much of the responsibility for the economy to private firms – a prospect which both pleases and worries businessmen, who wonder how they can finance new projects in an age of austerity. As more

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Saudi Arabia: Quietly Does It

The Saudi transformation few are paying attention to BY Fahad Nazer Media coverage of Saudi Arabia over the past year has largely focused on its new, more assertive foreign policy, as demonstrated by its military campaign in Yemen. More recently, a blueprint for economic reform known as “Vision 2030” aimed at reducing the country’s dependence on

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GCC: Summer Is Coming

The Gulf’s forthcoming reforms bode well for the future BY Tarek Fadlallah The contrarian case for making tactically positive trades during Gulf Cooperation Council (GCC) market weakness earlier this year has been sound. It remains on track to deliver further modest gains once Ramadan is over and the traditionally slow summer season has passed. The supportive elements

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Bahrain Arrests Eight Men Trying to Escape to Iran by Boat: BNA

DUBAI, June 5 – Bahrain’s coast guard has arrested eight people who were trying to escape to Iran by boat, state news agency BNA reported on late on Saturday. Bahrain’s official agency said two other men it described as “fugitives” had organised the escape from Iran. The eight men had already been convicted – in

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GCC: Change Is Needed

GCC central banks need to bolster research to reform decades old dollar pegs BY Martin Dokoupil Oil-rich Gulf Arab states’ central banks lack adequate research capabilities to pursue a currency reform that could help them better control their economies in both harsh periods of low crude prices as well as in times of economic boom, says

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Kuwait’s KNPC Says in Talks For $6.4 Bln in Loans for Clean Fuels Project

DUBAI, May 29 – Kuwait National Petroleum Company (KNPC) is in final stages of talks with international institutions for $6.4 billion in the second tranche of loans to finance its multi-billion dollar Clean Fuels project, state news agency KUNA reported on Sunday. The first portion, signed on April 28, was worth 1.2 billion dinars ($3.97

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Abu Dhabi Lays Off Staff as Gulf Austerity Tightens

By Stanley Carvalho ABU DHABI, May 22 – Thousands of layoffs at state-linked companies in Abu Dhabi are a fresh sign the Gulf’s wealthy oil states are hunkering down for a long period of austerity as low crude prices pressure their economies. Since mid-2015, the United Arab Emirates (UAE), Saudi Arabia, Qatar and other countries

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How the Hyperloop Could Change the Gulf

By Hunter Lee Soik Every year in the fall, a thick, impenetrable fog settles on roads throughout parts of the Arab Gulf, as temperatures between night and day begin to change. Car drivers slow their journeys, heart beats quicken, and seen at close quarters, lights blink through the mist. Every year sees fatalities on the

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