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Issue 1077 - 21 March 2019

Saudi Arabia: Red Sea gas

Free

Energy, industry and mineral resources minister Khalid Al-Falih has claimed that “large quantities” of natural gas have been discovered in the Red Sea. However, he did not give any specific details of how much natural gas has been found. Saudi Aramco has natural gas reserves of around 320 tcf and has been pushing to develop its position in the international gas market, not least through potential investments in liquified natural gas projects in the US.

Saudi Arabia
Issue 926 - 22 June 2012

BAHRAIN: Banking merger vote

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Shareholders at Bahrain-based Islamic banks Capivest, Elaf Bank and Capital Management House will vote on a proposed merger this month.

Bahrain
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Saudi Aramco continues efforts to improve the efficiency of its operations ahead of its planned, but slow-moving, stock market listing. On 27 May, it signed an unconventional gas stimulation services contract with US firm Halliburton. This is part of Aramco’s plans to develop unconventional gas resources in the north of the country, South Ghawar and the Rub Al-Khali areas to serve the domestic market and contribute to regional economic development. It will involve major hydraulic fracturing and well intervention operations from Halliburton. Work is due to begin this month.

Saudi Arabia
Free

Sheikh Tamim Bin Hamad Al-Khalifa, newly named Emir of Qatar, stands out not just because of the sleek manner of his accession, but because of his youth. Born on 3 June 1980, Tamim had only just celebrated his 33rd birthday when he assumed the role for which he has spent more than a decade preparing. In a culture where respect is very linked to age, holding his own among his senescent Gulf counterparts will require some steel. Three of the five other Gulf Co-operation Council (GCC) heads of state are more than double his age; the closest in years, at 63, is Bahrain’s King Hamad Bin Isa Al-Khalifa.

Qatar
Issue 957 - 31 October 2013

Kuwait: Court adjourns Al-Barrak trial

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A court on 27 October again adjourned the trial of former MP Musallam Al-Barrak, this time until 7 January. Al-Barrak was sentenced to five years for his public criticism of Emir Sheikh Sabah Al-Ahmed Al-Sabah during an election rally in 2012. In May, the appeals court overturned that verdict and ordered a retrial (GSN 954/6).

Kuwait
Issue 1034 - 23 March 2017

Iran’s election timetable

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Election hopefuls have a few more weeks to sort themselves out before Iran holds its 12th presidential election. Candidate nominations will open for five days from 11 April. That will be followed by a vetting process by the Guardian Council which will end on 26 April. Many names are likely to be excluded at this stage. The campaign proper will run from 27 April to 18 May. The first round of voting is due on 19 May.

Iran
Issue 922 - 27 April 2012

Governors: Activities

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Eastern Province governor Prince Mohammed Bin Fahd laid foundation stones in Abqaiq in early April. He was joined by his deputy, Prince Jiluwi Bin Abdelaziz Bin Musaid. In Riyadh, governor Prince Sattam Bin Abdelaziz opened the environmental rehabilitation project ofWadi Nammar andWadi Laban. Asir region governor Prince Faisal Bin Khalid Bin Abdelaziz attended a graduation ceremony on 10 April at King Khalid University, where female students recently protested against conditions. Prince Faisal met student representatives and formed a youth council to address their concerns.

Saudi Arabia
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In early November, Kuwait’s assistant undersecretary for citizenship and passport affairs, Major General Mazen Al-Jarrah, was quoted by Al-Jarida as saying tens of thousands of bidoon would be offered the chance to apply for economic citizenship of Comoros. Those who applied would be given residence permits in Kuwait, along with added incentives like free education and healthcare and the right to work. According to local press, the application process is slated to begin when Comoros opens its embassy in Kuwait in around nine months’ time; it is not clear exactly how the process would work, or how likely it is to go ahead.

Kuwait
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Sweden’s defence minister quit last week after outcry at government plans to help Saudi Arabia build a weapons plant. Swedish outrage at the idea of signing military agreements with undemocratic countries is admirable; British and US newspapers have also recently decried massive arms deals to the Gulf. But arguably, the provenance of weapons – while important to the domestic politics of source countries – is only a sideshow.

Saudi Arabia | Bahrain
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King Hamad Bin Isa Al-Khalifa flew to Saudi Arabia on 4 May to inspect Bahrain’s forces taking part in the Yemen campaign. At Taif airport, he was received by Mecca governor Prince Khalid Al-Faisal (when Abu Dhabi Crown Prince Mohammed Bin Zayed did the same on 26 April, see below, he was greeted by the far more senior Prince Mohammed Bin Salman). At King Fahd Air Base, King Hamad watched planes taking off for their missions, as well as a parade by the coalition jet fighters. He was briefed, and visited the Al-Faisal Aviation Sciences Museum.

Bahrain
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King Salman Bin Abdelaziz held talks with President Mahmoud Abbas of Palestine on 21 December, in the wake of US President Donald Trump’s decision to recognise Jerusalem as the Israeli capital and amid ongoing allegations of Saudi meddling in the domestic politics of a number of Levant countries. The king closed out the year by hosting Kuwait’s recently appointed first deputy prime minister and defence minister Sheikh Nassir Sabah Al-Ahmad Al-Sabah at Al-Auja Palace on 31 December.

Saudi Arabia
Issue 1021 - 09 September 2016

King Salman: Back home

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King Salman returned to the Kingdom in mid-August after several weeks in Morocco. Soon after his arrival he ordered a month’s extra pay for Saudi military and security personnel actively involved in operations in Yemen.

Saudi Arabia
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The much-publicised initiative for Morocco and Jordan to join the Gulf Co-operation Council surprised many when it was announced by new GCC secretary-general Abdelatif Al-Zayani, but it was not a new suggestion – it was proposed some years ago but quietly dropped – and has a political and economic logic for most of those involved.

Issue 1049 - 30 November 2017

UAE: Adnoc Distribution pricing announced

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Abu Dhabi National Oil Company’s retail fuel arm Adnoc Distribution has set a price range of Dh2.35-2.95 ($0.64-0.80) per share in its initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX). The government is planning to sell between 1.25bn and 2.5bn shares in the business, equating to 10-20% of its share capital. The sale could garner $800m-$2bn for the state. The shares are expected to list on the ADX on 13 December.

United Arab Emirates (UAE)
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Muscat is planning to spend OR12.9bn ($33.6bn) over the course of this year, OR400m more than forecast in the 2018 budget. According to local media reports, the budget is based on an oil price assumption of $58 a barrel, with total revenues forecast at OR10.1bn in 2019 The projected deficit of OR2.8bn is slightly lower than the OR3bn shortfall predicted in the 2018 budget.The government plans to borrow to cover most of the deficit, with OR2.4bn to be raised in international and domestic debt and the rest coming from withdrawals from reserves.

Oman