Earlier in the week, Saudi Arabian officials announced that starting Jan. 1, the country will be reducing subsidies by increasing gasoline prices by 80 percent.
The 72bn riyals tranche to be spent in 2018 includes: 10bn riyals to support private sector projects, 5bn riyals to boost exports and 7bn riyals in reimbursements of government fees to small and medium-sized enterprises (SMEs), according to a royal decree, carried by state-run Saudi Press Agency on Thursday.
Commerce and Investment Minister Majid Al-Qasabi explained in an interview with Bloomberg that the package was part of a SR200 billion, four-year program announced last year to spur the private sector to faster growth and higher rates of job creation. "I am telling you that we will return Lebanon to the Stone Age", he said in reference to the 2006 Israeli war on Lebanon.
Pakistan's former ambassador to the United States, Husain Haqqani, asserted that Saudi Arabia's close ties to the Pakistani military and intelligence during the anti-Soviet jihad in Afghanistan in the 1980s gave the kingdom arms' length access to his country's nuclear capabilities.
Fintech is the new oil in the Middle East and North Africa, according to Forbes. The government is planning some $200 billion worth of state sell-offs in one of the biggest privatizations plans in history, in addition to the planned $100 billion initial public offering (IPO) of shares in Saudi Aramco.
He also denied the reports about Saudi leaders trying to pressure Palestinian Authority leader Mahmoud Abbas into accepting a peace plan outlined by Washington.
On Friday, in the second 'Day of Rage' called for by various Palestinian factions including Gaza's militant Hamas, protesters clashed with Israeli forces throughout the Palestinian Territories, resulting in two deaths.
The growing divisions in the region come as the war against Islamic State ends and the Syrian civil war seems to slow into a frozen conflict.
Dr. Ali Bakeer, an analyst on the Middle East, noted that news media in Saudi Arabia showed the weather and economic news as Erdogan spoke.
Last week, Trump's decision to recognise Jerusalem as Israel's capital, while planning to move the US Embassy from Tel Aviv to Jerusalem, prompted Palestinian President Mahmoud Abbas to "disqualify" the US to act as a mediator in future talks. The funds will be used to finance 16 initiatives, the largest of which earmarks $5.7 billion towards subsidized housing loans for citizens.
- Take action with the Palestine Solidarity Campaign. Currently, Saudi Arabia lacks the crucial regulatory framework needed to guide private companies who are experiencing bankruptcy; sometimes they are saved by the state, but there are few firm guidelines. That's not a desirable position as it continues its long battle with Iran for influence in the Middle East. Katz reportedly threatened that Israel would bomb the plants.
And this significant divide on Jerusalem has now made that abundantly clear.
The Gaza Health Ministry said that five Palestinians were in a moderately serious condition after being injured by live fire.
Al-Muzaini believes changing the way young people think is vital if the country is going to move forward.