Saudi Arabia

Re: Saudi Arabia

Postby winston » Thu Mar 10, 2016 7:43 am

Saudi Arabia seeks $6-8 billion bank loan to shore up state coffers

BY ARCHANA NARAYANAN

Source: Reuters

http://www.reuters.com/article/us-saudi ... SKCN0WB0K1
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Re: Saudi Arabia

Postby winston » Thu Mar 10, 2016 9:56 pm

Saudi Arabia concludes 20-nation anti-terror military drill

RIYADH, Saudi Arabia (AP) — Heads of state from across the Muslim world are gathered in Saudi Arabia for the conclusion of a three-week-long counter-terrorism military exercise that included 20 participating countries.

The military drills, dubbed "Northern Thunder", took place in an area near Saudi Arabia's northern border with Iraq and concluded Thursday.

The training focused on how to coordinate combat operations and guerrilla warfare tactics among the Muslim-majority countries that are members of a larger counter-terrorism alliance announced by the kingdom in December.

Saudi state television carried images of King Salman seated alongside the heads of state of Egypt, Kuwait, Qatar, Senegal, Chad and Mauritania, among others.

Troops from Turkey, Pakistan, Malaysia, Sudan and Oman also took part in the Northern Thunder exercise.

Source: Associated Press
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Re: Saudi Arabia

Postby behappyalways » Sat Apr 23, 2016 5:11 pm

Saudi Arabia: The new oil order

An impetuous prince is rattling the Middle East, but may also bring bold reform

FOR generations, oil and stability have gone hand in hand in Saudi Arabia. The puritanically conservative kingdom has used its oil wealth to buy loyalty at home and friends abroad. But since King Salman came to the throne last year, his 30-year-old son, Muhammad, has injected unpredictability into the Middle East.

Critics consider the deputy crown prince a hothead, whose dangerous obsession with Iran, Saudi Arabia’s rival, is feeding sectarianism and fraying relations with America.

At home, though, the impetuousness of Muhammad bin Salman may be just what Saudi Arabia needs to start weaning itself off oil, the price of which has fallen sharply over the past 18 months. A big test comes on April 25th, when the prince is due to unveil the kingdom’s long-delayed “Vision” reform plan.

Under the prince, Saudi Arabia has certainly seemed rash. A year ago it went to war in Yemen, and is now bogged down. In January it executed a prominent Shia cleric, inflaming relations with Iran. Days later the prince revealed to this newspaper plans to float shares in Saudi Aramco, thought to be the world’s biggest company, surprising executives and ministers alike.

On April 17th he torpedoed an attempt in Doha by some of the world’s leading oil producers to raise the price of crude by holding output steady. By sinking the agreement at the eleventh hour, he destroyed the credibility of technocrats such as the veteran Saudi oil minister, Ali al-Naimi (see article).

Yet Prince Muhammad also has striking ideas about how to diversify the Saudi economy. The world’s biggest oil power relies on crude oil for nine-tenths of government revenues. With the collapse in prices, the country is expected to post a budget deficit of 13.5% of GDP this year; it is having to cut spending, draw down its reserves and borrow abroad.

The rentier model, whereby the Al Sauds distributed largesse and do-nothing public jobs in return for obedience, was under strain even when oil was booming.

Prince Muhammad’s plans include abolishing subsidies, raising new taxes, the part-privatisation of public services and an industrial reform involving Saudi Aramco and SABIC, a petrochemicals giant. But it faces obstacles. One is the weak capacity of the kingdom’s civil service to act on such ambition.

Another is the power of the sprawling ruling family and ultra-conservative clerics to block the other reforms needed to attract investment: promoting a vigorous private sector, fostering transparency and the rule of law, and empowering women.

Some of the pain is self-inflicted. Saudi Arabia stopped propping up the price of crude in 2014. Instead it kept pumping oil to drive out higher-cost rivals, including some American shale producers, and preserve its market share. To do otherwise, say the Saudis, would be to subsidise uncompetitive producers.

They are also trying to squeeze Iran. Saudi Arabia says it will not freeze production unless Iran does so, too. Iran thinks it has every right to rebuild its output after the lifting of Western nuclear-related sanctions in January (see article).

The American factor

Saudi Arabia is being combative partly because of its fear of abandonment by America. The Al Sauds think that Barack Obama, visiting Riyadh as we went to press, is tilting towards Iran. Mr Obama has stoked fears by calling Gulf states and other allies “free-riders”, and telling the Saudis “to share the neighbourhood” with Iran. This adds to the urgency of reform. Saudi Arabia may have more oil, but Iran has a more diversified economy—and knows how to deal with hardship.

Source: The Economist
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Re: Saudi Arabia

Postby winston » Sun May 01, 2016 7:58 am

Don’t Be Shocked by an Oil Price Shock

By Sean Brodric

Saudi Arabia boosted its imports of weapons by 54% last year alone!

It is buying a lot of weapons from the U.S. In fact, Saudi Arabia has purchased $60 billion in U.S. military gear since 2010. And the Obama administration has concluded deals for another $48 billion in weapons sales.

The Saudis aren’t just buying from us. They’re buying weapons from Britain, France, Germany, even Russia. Billions upon billions of dollars’ worth of weapons.

Seriously, what are the Saudis planning to do with all that military hardware?


83 members of the U.S. Senate just got together to send a letter to President Obama. They’re demanding that we give more free military aid to Israel.

When was the last time 83 members of the Senate agreed on anything?

America’s current military aid package to Israel runs $3 billion a year. Israel wants that raised to $5 billion a year.


Saudi Arabia is America’s best ally in the Arab world, right? I mean, except for the fact that 15 of the 19 9/11 hijackers were Saudi citizens… as was Osama bin Laden… and so on.


When President Obama recently visited the desert kingdom. Neither the king nor the crown prince met Obama when he arrived at the airport in Riyadh. Instead, he was met by the governor of the local province.


Saudi Arabia has an official unemployment rate of 11%. And two-thirds of the population is under 30.


Oil price would be one big beneficiary of rising hostility in the Middle East. Even in an oversupplied oil market, the oil price could spike quickly.


Source: Non-Dollar Report

http://nondollarreport.com/2016/04/dont ... ?src=email
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Re: Saudi Arabia

Postby behappyalways » Tue May 10, 2016 2:33 pm

Man who foresaw oil crash bets against Saudi Arabia
http://money.cnn.com/2016/05/09/investi ... plead-intl
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Re: Saudi Arabia

Postby behappyalways » Mon May 23, 2016 5:59 pm

AEP: Saudi financial crisis 'could leave oil at $25' as contractors face being paid in IOUs
http://www.telegraph.co.uk/business/201 ... tors-face/
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Re: Saudi Arabia

Postby behappyalways » Wed May 25, 2016 7:33 pm

2016.05.22文茜的世界周報/穆迪降沙國信評 沙國增產否油價懸念
https://www.youtube.com/watch?v=EL9fFO8vP_o
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Re: Saudi Arabia

Postby winston » Tue May 31, 2016 8:13 pm

The Untold Story Behind Saudi Arabia’s 41-Year U.S. Debt Secret

How a legendary bond trader from Salomon Brothers brokered a do-or-die deal that reshaped U.S.-Saudi relations for generations.

The U.S. would buy oil from Saudi Arabia and provide the kingdom military aid and equipment. In return, the Saudis would plow billions of their petrodollar revenue back into Treasuries and finance America’s spending.


The $117 billion trove makes the kingdom one of America’s largest foreign creditors.


The current tally represents just 20 percent of its $587 billion of foreign reserves, well below the two-thirds that central banks typically keep in dollar assets.

Some analysts speculate the kingdom may be masking its U.S. debt holdings by accumulating Treasuries through offshore financial centers, which show up in the data of other countries.


Source: Bloomberg

http://www.bloomberg.com/news/features/ ... ebt-secret
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Re: Saudi Arabia

Postby behappyalways » Thu Aug 04, 2016 11:49 am

Saudis promise relief for 'stuck migrants'
http://www.bbc.com/news/world-asia-36963994
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Re: Saudi Arabia

Postby behappyalways » Mon Aug 08, 2016 10:20 am

Why can't these Indian nationals leave Saudi Arabia?
http://edition.cnn.com/videos/world/201 ... -in-depth/
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