Headlines 

Hedge-Fund Investors Pour Into Oil as Firms Predict Surge to $80

Hedge funds investing in oil are luring capital at the fastest pace in more than a year. With crude climbing to levels not seen since 2014, commodity funds have recovered the client outflows they suffered last year. And if firms such as Saudi Arabia, the world’s biggest exporter, wants to push prices to $80 a barrel to help pay for the government’s policy agenda. Declining output in Venezuela and falling global inventories are also playing their part, as are the worsening tensions in Syria, which threaten to disrupt supply from…

Read More
Headlines 

OPEC, Russia Signal Global Oil Alliance May Endure Past 2018

OPEC and Russia reaffirmed that they’ll persevere with oil-production cuts until the end of the year to clear a global glut and signaled their readiness to cooperate beyond that. Russia is prepared to continue cooperating with OPEC and its de-facto leader Saudi Arabia even after the cuts expire, Energy Minister Alexander Novak said in a Bloomberg television interview held jointly with his Saudi counterpart. Producers should keep limits on output through 2018 as the market may re-balance at the end of the year or in 2019, Saudi Energy Minister Khalid…

Read More
Headlines 

Saudi Arabia Arrests 11 Princes Protesting Over Bills, Report Says

Saudi authorities made a fresh round of arrests of royal-family members as a group of princes staged a palace protest in the capital over the non-payment of their electricity and water bills. Security services on Thursday arrested the 11 princes after they refused to leave Qasr Al-Hokm in Riyadh, Saudi Arabia’s Attorney General, Sheikh Saud Al Mojeb, said in an emailed statement. The princes, who objected to a decree that ordered the state to stop paying their utility bills, will be held at al-Ha’er prison pending their trial, Al Mojeb said. “No…

Read More
Headlines 

Crackdown on Billionaires and Other Top Officials Shakes Up Saudi Arabia

Even by the standards of Crown Prince Mohammed bin Salman, whose meteoric ascent has put him on the cusp of the Saudi throne at the age of 32, the Saturday night crackdown was stunning. In just a few hours, security forces arrested princes, billionaires, ministers and former top officials as soon as King Salman announced a sweeping anti-corruption drive. Those detained included billionaire Prince Alwaleed bin Talal, who was picked up at his desert camp outside Riyadh, according to a senior Saudi official. Before midnight, the suspects’ names were already…

Read More
Headlines 

Yemen Rebels Say They Fired Missile at Saudi’s Main Airport

Yemen’s Houthi rebels said Saturday they’d targeted the international airport in Riyadh with a ballistic missile in a rare attack on one of the most vital targets in the Saudi capital. The projectile was aimed at King Khalid International Airport, located about 22 miles (35 kilometers) north of Riyadh, the rebel-controlled Saba news agency reported. Saudi state-run media said the kingdom’s air defenses intercepted a missile northeast of Riyadh, with no material damage to the airport. Residents in the capital said they heard a loud bang. Saudi Arabia and its…

Read More
Headlines 

Saudi Arabia to allow women to obtain driving licences

King Salman ordered the reform in a royal decree delivered on Tuesday night, requesting that drivers licences be issued to women who wanted them Women in women being allowed into a sports stadium for the first time. It is the most significant change yet to a rigidly conservative social order in Saudi Arabia that has strictly demarcated gender roles, and severely limits the role of women in public life. Earlier this month, a Saudi cleric was behind the wheel on the countrys roads were briefly arrested by police. In response…

Read More
Headlines 

Saudi woman arrested for wearing a skirt is released without charge

Model Khulood said the video was posted online without her knowledge as many lament double standards about indecency A Saudi woman who appeared in an online video wearing an indecent skirt and crop top has been freed. The woman, identified as Model Khulood, was released after she told investigators that the video was posted on social media without her knowledge. She was released without charge and the case has been closed by the prosecutor, a statement from the Saudi centre for international communications said. A video of her on Snapchat…

Read More
Headlines 

Qatar rejects deadline demands, saying it does not fear military action

Foreign minister Sheikh Mohammed bin Abdulrahman Al Thani rejects demands from Saudi Arabia, Egypt, Bahrain and United Arab Emirates Qatar said on Saturday it does not fear any military retaliation for refusing to meet a Saudi Arabia, Egypt, Bahrain and the United Arab Emirates cut diplomatic ties with Qatar last month and shut down land, sea and air links. They issued a 13-point list of demands, including curbing diplomatic ties to Iran, severing ties with the Muslim Brotherhood and

Read More
Headlines 

Al-Jazeera, insurgent TV station that divides the Arab world, faces closure

The network has raised political awareness across the Middle East. No wonder Qatars conservative enemies want it shut down On Monday a bold and controversial experiment in Middle Eastern media and politics may be abruptly brought to an end. Al-Jazeera once heralded as the beacon of free Arab media that broke the hegemony of the western networks and reversed the flow of information from east to west for the first time since the middle ages faces closing its doors for good. On 23 June, Saudi Arabia, the United Arab Emirates,…

Read More
Headlines 

Saudi security foils terror plot targeting Mecca Grand Mosque and pilgrims

Suspect blows himself up as interior ministry blames evil and corrupt self-serving schemes managed from abroad Saudi Arabian security forces have foiled a terror plot targeting the Grand Mosque in the Muslim holy city of Mecca, exchanging gunfire with one of the suspects who blew himself up inside a home on Friday, the interior ministry said. The ministry described the plot as part of self-serving schemes managed from abroad. Five people, including a woman, were arrested in security operations in Mecca, the Saudi-owned Al-Arabiya news website said, citing interior ministry…

Read More
Headlines 

Saudi Arabia, UAE, Egypt and Bahrain break diplomatic ties with Qatar over ‘terrorism’

Saudi Arabia said the move was necessary to protect the kingdom from what it described as extremism, reasoning that was echoed by Bahrain Saudi Arabia, the United Arab Emirates, Egypt and Bahrain have broken off diplomatic relations and all land sea and air contacts with fellow Gulf Arab state Qatar on Monday. Saudi Arabia said the move was necessary to protect the kingdom from what it described as terrorism and extremism. The kingdom also pulled all Qatari troops from the ongoing war in Yemen. The official state news agency, citing…

Read More
Odds and Ends 

SoftBanks massive Vision Fund raises $93 billion in its first close

SoftBanks huge $100 billioninvestment fund the largest tech fund in history Apple, Qualcomm, UAE-basedMubadala Investment Company,Saudi Arabias PID public fund, Foxconn, and Foxconn-owned Sharp. The plan is for the fund to reach its $100 billion target within the next six months through commitments from other investors. The fund is committing to a minimum of $100 million deal checks, with a focus on both minority and majority deals with companies that are either private or public. That leaves plenty of scope to play in, but some color can be found in…

Read More