Saudi Arabia

Paris Attacks Reverse Global Market Losses

LONDON, Nov. 16 – European shares reversed early losses on Monday and the safe-haven yen fell against the dollar with no long-term economic impact seen from Friday’s attack in Paris. Asian shares hit six-week lows as investors bought into traditionally safe investments, including gold, the yen and low-risk government debt. However, gold came off session

[ Read More ]

G20 Summit In Turkey Focuses On Syria, Daesh Militancy

BELEK, Turkey, Nov 15  – U.S. President Barack Obama vowed on Sunday to step up efforts to eliminate Daesh and prevent more attacks like those in Paris, while urging Russia’s Vladimir Putin to focus on combating the jihadist group in Syria. British Prime Minister David Cameron has said he will also urge President Vladimir Putin on

[ Read More ]

World Leaders Express Solidarity With Paris

LONDON, Nov 14 – World leaders responded to Friday’s bloody attacks in Paris with outrage and defiant pledges of solidarity, but several countries said they would tighten security, especially at their borders, and a few urged their citizens not to travel to France. Daesh claimed responsibility on Saturday for the coordinated assault by gunmen and

[ Read More ]

What [Not] To Expect in New Round of Syria Peace Talks

By John Irish and Karin Strohecker VIENNA, Nov 13. Two weeks after they jointly called for a political solution to Syria’s civil war, foreign ministers and senior officials from Russia, the United States, Europe and the Middle East struggled on Friday to turn that idea into a more concrete plan. As those officials returned to

[ Read More ]

All The Kings’ Men

The Gulf’s ruling families send their sons to Yemen’s frontline By Leila Hatoum “It is always good [to have] true men by your side,” wrote Sheikh Mansoor bin Mohammed Al Maktoum on his Instagram page some five weeks ago under a photo from the battlefield in Yemen. The image shows the young leader, 26, standing next

[ Read More ]

Russia and Iran Sign Contract for Missile System Delivery: RIA

MOSCOW, Nov 9: Russia and Iran have signed a contract for Moscow to supply Tehran with S-300 surface-to-air missile systems, Sergei Chemezov, the chief executive of Russian state-owned defence conglomerate Rostec, was quoted by the RIA news agency as saying on Monday. “S-300, the air defence system, the contract has already been signed,” Chemezov was

[ Read More ]

Oil Price Faces Fresh Downturn as Russia, Saudi Tussle in Europe

By Libby George and Amanda Cooper LONDON, Nov 9 (Reuters) A sales push by Saudi Arabia into north Europe’s refineries, a step into rival Russia’s backyard, piles fresh pressure on oil prices already struggling against oversupply. Stung by Russia’s success in supplanting it in the giant Chinese market, Riyadh has embarked on a charm offensive

[ Read More ]

Standard and Poor’s Takes Negative Ratings Action Against 8 Saudi Banks

By Staff Writer Standard & Poor’s Ratings Services took negative rating actions on eight Saudi banks, citing increased economic risks as the main reason. The ratings agency, which has recently lowered the Kingdom’s ratings to ‘A+/A-1’, said the sharp drop in oil prices and the resulting negative swing in Saudi Arabia’s fiscal balance “will weaken

[ Read More ]

Saudi Arabia: The Bold And The Dutiful

Saudi Arabia Shuffles its Geopolitical Card BY Leila Hatoum Over the past century, three countries have led the Middle East’s political hegemony: Saudi Arabia, Egypt and Iran. But never, has the Kingdom, since the days of King Faisal —who cut off Saudi oil from the West—  been as assertive and firm in its stand and

[ Read More ]

Gulf’s Private-Sector Growth Slows As Price of Oil Falls

DUBAI, Nov 3 (Reuters)  The private sector in the two biggest Gulf Arab economies grew at the slowest pace in years in October, corporate surveys showed on Tuesday, indicating low oil prices are starting to slow business activity across the region. The seasonally adjusted Emirates NBD Saudi Arabia Purchasing Managers’ Index for last month dropped

[ Read More ]