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Search resuls for: "Arab Gulf"


9 mentions found


☆ After Iran, Saudi Arabia to re-establish ties with Syria, sources say
  + stars: | 2023-03-23 | by ( Laila Bassam Aziz El Yaakoubi | Laila Bassam | Aziz El Yaakoubi | ) www.reuters.com   time to read: +4 min
Summary Saudi Arabia, Syria cut ties more than a decade agoAgreement on reopening embassies follows Saudi-Iran dealBEIRUT/RIYADH, March 23 (Reuters) - Syria and Saudi Arabia have agreed to reopen their embassies after cutting diplomatic ties more than a decade ago, three sources with knowledge of the matter said, a step that would mark a leap forward in Damascus's return to the Arab fold. Contacts between Riyadh and Damascus had gathered momentum following a landmark agreement to re-establish ties between Saudi Arabia and Iran, a key ally of President Bashar al-Assad, a regional source aligned with Damascus said. The decision was the result of talks in Saudi Arabia with a senior Syrian intelligence official, according to one of the regional sources and a diplomat in the Gulf. The United States and several of its regional allies, including Sunni-led Saudi Arabia and Qatar, had backed some of the Syrian rebels. But Saudi Arabia has been moving far more cautiously.
☆ Factbox: Middle East flashpoints that could be affected by Saudi-Iran deal
  + stars: | 2023-03-12 | by ( ) www.reuters.com   time to read: +4 min
China also provided cover for Syria at the United Nations and kept up economic and political ties with Damascus. But as Iran's support helped Assad turn the tide, Saudi backing for the armed and political opposition has waned. Syria's foreign ministry welcomed the deal as an "important step" that could boost regional stability. In 2021, Saudi and other Arab Gulf states withdrew their ambassadors over what they said was Hezbollah's hold over the state. Seeking to de-escalate, the United Arab Emirates and Saudi began engaging directly with Iran.
☆ Dubai continues to benefit from crisis and the Russia-Ukraine war, Damac chair says
  + stars: | 2023-01-17 | by ( Natasha Turak | ) www.cnbc.com   time to read: +1 min
DUBAI, United Arab Emirates — Dubai's property sector is going from strength to strength, as growth and reform in the oil-rich Arab Gulf states attract more foreign residents, companies and investors. The hike can be partly attributed to the geopolitical crisis, which has benefitted Dubai and the United Arab Emirates. "So Dubai continues to benefit today from the Russian-Ukrainian war, unfortunately." Dubai was already seeing its hottest real estate market in years within the early months of the war. Sales in the sector rose 45% year-on-year in April 2022 and 51% in May, according to the Dubai Land Department.
☆ China’s Xi to visit Saudi Arabia, sources say, amid frayed ties with the US
  + stars: | 2022-12-05 | by ( Nadeen Ebrahim Tamara Qiblawi Caroline Faraj | Nadeen Ebrahim | Tamara Qiblawi | ) edition.cnn.com   time to read: +4 min
Rumors of a Chinese presidential visit to the US’ largest Middle East ally have been circulating for months, but are yet to be confirmed by the governments of Saudi Arabia and China. Beijing has not made an official announcement that Xi will visit Saudi Arabia. A strong US ally for eight long decades, Saudi Arabia has become bitter over what it perceives to be waning US security presence in the region, especially amid growing threats from Iran and its armed Yemeni proxies. Both China and Saudi Arabia have also taken different stances to the West with regards to the Ukraine war. Biden said in October that the US has to “rethink” its relationship with Saudi Arabia, which the President had seemingly tried to repair in a July visit to Riyadh.
☆ Iran's drones are unlikely to help Russia win in Ukraine — and could backfire for Tehran
  + stars: | 2022-11-11 | by ( Natasha Turak | ) www.cnbc.com   time to read: +7 min
Ukraine has blamed Iran for providing Russia with drones, which have been used to attack Kyiv in recent days. They transferred dozens just this summer & have military personnel in occupied Ukraine helping Russia use them against Ukrainian civilians." Amirabdollahian said that "if it is proven to us that Russia has used Iranian drones in the Ukraine war, we won't be indifferent to it." They've also come in handy for Moscow as Russia's military runs low on more advanced weaponry like guided missiles. "Such systems could become a big headache for the Russians and could make Iran's drones and missiles look ineffective while teaching Western militaries how better to counter them," he said.
☆ Gulf states use new oil riches to gain regional influence
  + stars: | 2022-10-31 | by ( Nadeen Ebrahim | ) edition.cnn.com   time to read: +13 min
“Money talks,” Michael Maduell, president of the Sovereign Wealth Fund Institute in Las Vegas, told CNN. Saudi Arabia’s de facto ruler, Crown Prince Mohammed bin Salman, last week announced that the nation’s wealth fund, the Public Investment Fund (PIF), is establishing five regional companies worth $24 billion across the Middle East. One of the key regional investment destinations for both Abu Dhabi and Riyadh has been Egypt. Once a regional rival, Turkey is now an economic ally of Saudi Arabia and the UAE. Despite a political thaw, Gulf investments in Iran and Syria are unlikely for the time being, say analysts.
☆ A feared Iranian militia is leading the crackdown on protesters. Who are the Basij?
  + stars: | 2022-10-22 | by ( Hyder Abbasi | ) www.nbcnews.com   time to read: +5 min
Dressed in black, the group of chanting schoolgirls in the Iranian city of Shiraz appeared determined to make themselves heard. Several videos posted to social media since her death have featured demonstrators shouting angry chants against the Basij. The Basij gave them access to higher education, subsidized consumer goods, free health care and job security, he added. Suppression methodsThere are three primary methods the Basij use to suppress anti-government protests, Golkar said. In 2009, rights groups including Amnesty International, said the group had used excessive force during peaceful anti-government protests triggered by a disputed presidential election.
☆ Why Saudi Arabia defied the US over OPEC oil supply cut
  + stars: | 2022-10-07 | by ( Nadeen Ebrahim Abbas Al Lawati | Nadeen Ebrahim | Abbas Al Lawati | ) edition.cnn.com   time to read: +14 min
On Wednesday, OPEC+, the oil cartel led by Saudi Arabia and Russia, agreed to slash production by 2 million barrels per day, twice as much as analysts had predicted, in the biggest cut since the Covid-19 pandemic. “Saudi Arabia is looking to head off a repeat of 2008 when the market crash sent the global economy into a recession and oil prices suddenly plummeted, requiring emergency action by OPEC,” said Wald. Analysts also say Saudi Arabia cannot afford to let oil prices go below a certain level for budgetary reasons. For its budget to break even, global oil prices must be at around $79 a barrel, according to the International Monetary Fund. That was a warning sign for Saudi Arabia and other oil exporters, who depend on oil for a majority of their revenue.
☆ Analysis: Saudi prince's Ukraine mediation signals 'useful' Russia ties - analysts
  + stars: | 2022-09-23 | by ( Aziz El Yaakoubi | ) www.reuters.com   time to read: +5 min
With Prince Mohammed's mediation, Russia on Wednesday released 10 foreigners it had captured in Ukraine, including five Britons and two Americans. He denied the Crown Prince had become involved to rehabilitate his reputation. U.S. citizens Alexander Drueke, 39, and Andy Huynh, 27, both from Alabama, are expected to leave Saudi Arabia within days, officials said. But Saudi Arabia has shown little readiness to join the effort to isolate Russia. U.S. National Security Adviser Jake Sullivan, Secretary of State Antony Blinken and British Prime Minister Liz Truss thanked the Saudi crown prince for his role.
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