Saudi Arabia, UAE To Invest $20 Billion In South Africa –Africa’s 2nd Largest Economy

JUL 21, 2018 (BE2C2): South Africa has secured billions of dollars in investment agreements with Saudi Arabia and UAE which will bolster Africa’s second biggest economy marred by over 36 percent unemployment rate and may also be aimed at disrupting Pretoria’s close relationship with Iran. The state visit of South African president Cyril Ramaphosa to […]

US Defense Firm Lockheed Awarded $451M Contract for Saudi Patrol Ships

JUL 18, 2018: Lockheed Martin out of Baltimore, Maryland, has received a $450.7 million modification to an existing contract for production of four Multi-Mission Surface Combatant ships for the the Kingdom of Saudi Arabia. Work will be performed in Crozet, Va., Iron Mountain, Michigan, Milwaukee, Wisconsin, Sweden, Great Britain and other locations across the United […]

Turkey Sacks 18,000 State Employees For Alleged Terrorist Links

JUL 8, 2018: Turkey dismissed more than 18,000 state employees citing alleged ties to terror organizations Sunday as part of a purge related to a failed coup in 2016. The latest firings come a day before Turkish President Recep Tayyip Erdogan is set to be sworn in for a new five-year term during a ceremony […]

Wages For High-Skilled Workers in Saudi, UAE to Surge –For Lack Of Talents

JUL 9, 2018 (BE2C2): Wages for high-skilled labor across the Middle East are forecast to surge in the coming period, as talents appear to be lacking, a new study by Korn Ferry said. The expected increase in salaries in the UAE and Saudi Arabia are likely to have strong effect on the media, technology and […]

Dubai Property Deals Drop To Dh111B In 2018 As Compared To Dh132B In 2017

JUL 9, 2018: Overall property transactions in Dubai totaled Dh111 billion for the first half of 2018, says the Dubai Land Department (DLD). This represents an approximately 16 per cent decline compared to the same period a year ago. Overall property transactions in Dubai totaled Dh132 billion in the first half of 2017 and Dh113 […]

Saudi Binladin Group Now Being Run By Govt-Appointed Committee

JUL 5, 2018: Saudi businessmen Bakr, Saleh and Saad Binladin gave up their 36.2 pct stake in the Saudi Binladin Group to Istidama Holding Company, al-Arabiya TV reported on Thursday, citing the Saudi commerce ministry. The company, crucial to the state’s plans for major tourism and infrastructure projects, is now being run by a government-appointed […]

7 Pakistanis Jailed For Robbing 14 Million Dirham From Dubai Armored Truck

JUL 4, 2018: Seven Pakistanis were jailed for three years on Wednesday for stealing Dh14 million (Rs470 million) from an armored truck in Dubai, Gulf News reported. Among those jailed were three drivers who worked for the cash transfer company, while the rest provided logistic support to it. All of the seven convicts will be […]

Iran Vows To Thwart US Sanctions By Allowing Private Sector To Export Oil

JUL 2, 2018 (BE2C2): Iran will allow private companies to export crude oil, part of a strategy to counter US sanctions, and is urging fellow OPEC members, including regional rival Saudi Arabia, not to break output agreements, state media and officials said on Sunday. Iran is looking at ways to keep exporting oil as well […]

“Oil Is Now Front And Center Of Conflict In Libya”

Libyan oil production has been hampered by conflicts stemming from civil war that erupted in the wake of Arab Spring movements JUN 27, 2018 (BE2C2): Libya’s National Oil Corp. said it rejected a move by the Libyan National Army to move on exports from the Gulf of Sirte. The move followed militant raids on oil […]

End Of The Road For Expat Drivers, With Emergence Of ‘New Normal’ In Saudi Arabia

JUN 26, 2018 (BE2C2): The recruitment of foreign drivers in Saudi Arabia will decrease by 50 percent over the next 10 years due to the new law allowing women to drive, according to some experts. The ban was lifted on June 24 — the world’s only ban on women driving. It’s part of a series […]

Bahrain to Receive Sixteen F-16s Worth More Than $1 Billion

JUN 25, 2018: Lockheed Martin has been awarded a contract for F-16 production for the kingdom of Bahrain. The deal, announced Friday by the Department of Defense, is valued at more than $1.124 billion under the terms of a fixed-price-incentive-firm contract that enables Lockheed Martin to provide 16 F-16 V Block 70 aircraft, according to […]

Islamist Erdogan Or Secularist Ince, Turkey Will Be Radically a Changed Country

JUN 24, 2018: Turkish voters are going to the polls today for what are seen as the most crucial elections in Turkish modern history as President Recep Tayyip Erdogan’s gamble on snap elections (18 months earlier) could backfire. The Turkish people feeling the pinch of soaring inflation, a plunging currency and high interest rates will […]

Saudi King Sends 150 Tons of Dates As ‘Gift’ To Pakistanis, Backs Ceasefire in Afghanistan

JUN 21, 2018: Saudi King Salman bin Abdulaziz has sent a gift of 150 tons of dates to the people of Pakistan. Saudi Ambassador Nawaf Saeed bin Al-Malkiy handed over the gift to Pakistani officials, Radio Pakistan reported. The dates would be distributed among deserving people of Pakistan, said Joint Secretary Cabinet Division. Saudi Arabia […]

Palestinians Use Kites to Protest Gaza Blockade, Burn Israeli Lands

JUN 17, 2018: Palestinians are using kites to protest the blockade of Gaza and causing huge damage to Israeli lands without getting closer to the restive border. Israeli troops have so far killed 121 Palestinians since demonstrations at the Gaza border started on March 30. Israeli politicians have called on Israeli soldiers to shoot kite […]

Bangladeshi Man Commits Suicide, Jumps to Death at Makkah Grand Mosque

JUN 15, 2018: Days after a Frenchman committed suicide by jumping off the rooftop of Makkah’s Grand Mosque, a Bangladeshi man repeated the same episode as he threw himself to death from the first floor of the holy mosque on Thursday. A Sudanese man received serious fractures and injuries after the Bangladesh national fell on […]

World Bank Funding $125M For Morocco’s 800MW Solar (PV, CSP Combination) Project

Solar Projects Are Providing Opportunities for Women in Morocco JUN 14, 2018 — The World Bank announced on Monday that it had approved $125 million in additional financing for the development and construction of the Noor-Midelt I and II solar power plants in Morocco, a combination solar concentrated solar power (CSP) and Photovoltaic (PV) project […]

Food Wasted in Saudi Arabia (SR49Bn) Exceeds VAT Proceeds It Estimates to Collect This Year

JUN 11, 2018 — The Saudi Kingdom has launched a national program to crack down on food waste after shocking figures estimated the cost of wastage at $13.3 billion (SR49 billion) a year . The yearly squandering of food amounts to a third of the country’s food production, and nearly 36 percent of its 2018 […]

Iranian Oil Production Not Impacted Despite Looming Sanctions Threat

JUN 11, 2018 — With sanctions pressures looming over Tehran, production from OPEC’s third-largest producer, Iran, hasn’t yet been impacted, and may not significantly happen so. The Platt survey found Iranian oil production was steady at 3.83 million bpd, making it the third-largest OPEC producer behind Saudi Arabia, the top supplier, and Iraq. President Trump’s […]

Frenchman Commits Suicide at Makkah’s Grand Mosque

JUN 9, 2018 — A Frenchman has committed suicide by throwing himself off the roof of the Grand Mosque in Islam’s holiest city of Makkah, Saudi and French officials said on Saturday. “A foreigner threw himself from the roof of the Grand Mosque in Makkah” to the courtyard below, “resulting in his instant death”, Saudi […]

Energy-Rich Qatar Goes From Crisis to Surplus

Jun 7, 2018 (BE2C2) — Recovering from political disputes, a $10 per barrel increase in the price of oil could add about 4 percent to GDP from gas-rich Qatar, Fitch Ratings reported. Qatar is the second-largest exporter of liquefied natural gas in the world, behind Australia. Last year, Moody’s Investors Service said regional disputes with […]