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The outlook for Saudi Arabia’s banks have changed to negative from stable by credit rating agency, Moody’s Investors Service, because bad loans are expected to rise over the next 12 to 18 months due to low oil prices and a Read more
Baghdad and Riyadh could be entangled in a politico-diplomatic row after Iraq’s Foreign Minister Ibrahim al-Jaafari hailed locally-based Shia militia groups and Lebanese Hezbollah organization. The Iraqi minister’s statement led to a march out protest by the Saudi delegation at Read more
After some delay, Ahmed Aboul Gheit, who served as Foreign Minister from July 2004 until the ousting of President Hosni Mubarak’s government in 2011, was finally elected as Arab League Chief in replacement of Nabil El-Araby whose mandate will be Read more
Sources under the condition of anonymity have revealed that oil rich kingdom and the world’s biggest oil producer is seeking a bank loan of between $6 and $8 billion as the low oil prices begin to take its toll on Read more
Leader of the Lebanon-based Shiite organization Hezbollah, Hassan Nasrallah, Sunday took aim at Sunni Arab countries and Israel to whom he vowed defeat after Sunni Gulf States blacklisted his organization as a terrorist organization. Speaking at an event commemorating the Read more
Members of the Gulf Cooperation Council (GCC) namely Saudi Arabia, Qatar, Bahrain, Oman, Kuwait and the United Arab Emirates have labelled the Lebanese-based Hezbollah as a terrorist organization a day after Nasrallah lambasted Riyadh for its actions against Lebanon because Read more
The fury between Iran and Saudi Arabia took a new dimension on Sunday as Tehran protested against Riyadh’s refusal to issue visas to a delegation that was to attend a meeting of the Organization of Islamic Cooperation (OIC) in Jeddah. Read more
Nigeria’ Muhammadu Buhari called for cooperation between oil producing countries, both OPEC and non-OPEC members, to stabilize the prices of oil in the global market. In a statement released by the Nigerian presidency Sunday, after a meeting between President Buhari Read more
The ceasefire agreement in Syria that was negotiated between the US and Russia came into effect on Saturday and there are reports that it has been violated at least nine times by the different warring groups active in the country Read more
Politicians in Lebanon are in disarray following the $3million military aid suspension to the Lebanese army by Riyadh that was followed few days after by travel warnings from Saudi Arabia, Bahrain and Kuwait to the country. The decision is believed Read more