The political stability of the Arab world needs a long-term plan to increase economic stability and move away from dependence on oil as the major economic driver, while also addressing the region’s dangerously high unemployment, particularly among young people.
Losses from lower oil exports should sap up to $300 billion from economies in the Middle East and Central Asia this year, as countries in the region adjust to falling crude prices, the International Monetary Fund said on Wednesday.
Bill Gates, Founder and Co-Chair of the Bill & Melinda Foundation, has commended the GCC people and governments, especially the governments of the UAE, Saudi Arabia and Kuwait for their assistance to the needy worldwide.
Salman bin Abdul Aziz Al Saud and his 6 full-brothers were seen as a center of power within the Al Saud family.
Saudi Arabia’s King Abdullah died early on Friday and his brother Salman became king, the royal court in the world’s top oil exporter and birthplace of Islam said in a statement carried by state television. King Salman has named his half-brother Muqrin as his crown prince and heir. “His Highness Salman bin Abdulaziz Al Saud…
India has asked its refiners to slash oil buys from Iran in the next two months to keep the imports in line with the previous fiscal year’s levels, sources with knowledge of the matter said, days ahead of President Barack Obama’s visit to New Delhi.
New delays to a major report into Britain’s role in the Iraq War sparked fears on Wednesday that the public would conclude its long-awaited findings had been “sexed down” to prevent criticism of former high-profile figures.
Yemen’s Houthi fighters took up guard at President Abd-Rabbu Mansour Hadi’s home on Wednesday but said they had not toppled him, after two days of fighting that have put the Shi’ite group in all but total control of the capital.