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Saudi Arabia will allocate Morocco $230 million to finance various development projects and support Small and Medium Enterprises, under three agreements signed on Wednesday on the sidelines of the joint Assembly of Arab Financial Institutions. The agreements will cover three Read more
Saeed Ohadi, head of Iran’s Hajj and Pilgrimage Organization, has announced that they will be meeting with Saudi officials to discuss the upcoming Hajj in Riyadh on April 14 after they received an invitation. He said the attendance of the Read more
Saudi Arabia is stepping up efforts to shift its economy’s reliance away from oil with investments from the Public Investment Fund (PIF) expected to control more than $2 trillion. The announcement was made by Deputy Crown Prince and Defense Minister, Read more
President Assad on Wednesday signaled that he is willing to form a unity government with opposition and independent figures but the High Negotiations Committee (HNC,) a coalition of Syrian opposition parties, quickly rejected the proposal. In an interview with Russian Read more
Bahrain’s oil and gas investment and business development company Nogaholding signed a five year $750 million multi-bank Islamic loan to finance the expansion and development of some projects including the construction of a liquefied natural gas import terminal. The loan Read more
Kuwait and Saudi Arabia have reached an accord to begin production at the jointly operated Al-Khafji oil field where production was halted in October 2014 but differences still remain over the Wafra oil field. The announcement was made by Kuwaiti Read more
A day after Iranian president Hassan Rouhani said in Pakistan that “the existing difference in opinions” between Tehran and Riyadh “must be solved through dialogue”, Saudi foreign minister Adel al-Jubeir said renewing ties will require that Tehran changes its “behavior.” Read more
Qatar’s ministry of energy and industry said the meeting between OPEC members and oil producing non-OPEC countries to be held in April is aimed at reaching “an agreement among producers on freezing their crude output at January levels in order Read more
Saudi Arabia will be providing financial assistance to Egypt part of its $8 billion investment pledge that was made by Saudi King Salman Bin Abdulaziz at the end of last year to help save the North African country’s struggling economy. Read more
The intensity of the Yemeni war is expected to cool down after the spokesman of the Saudi-led coalition Brigadier General Ahmed al-Assiri said they are bringing major military combat to an end. The decision came barely a week before the Read more