MIdEast Stocks Mixed, Saudi Shares Slip Despite Stimulus Package

MIdEast Stocks Mixed, Saudi Shares Slip Despite Stimulus Package

MIdEast Stocks Mixed, Saudi Shares Slip Despite Stimulus Package

Saudi Arabia's callous blockade of Yemen has, however, made it difficult for the US to support the coalition war with the same enthusiasm as before.

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.

Riyadh has also been a key broker in the Trump administration's efforts to restart peace talks between Israel and the Palestinians. United by their common foe of Iran, however, in recent months the relationship appears to be warming.

A decree was issued by king Salman bin Abdulaziz Al Saud in approval of the stimulus plan by crown prince Mohammad bin Salman bin Abdulaziz, the country's first deputy prime minister and president of the Council for Economic and Development Affairs.

"The more accurate that Hezbollah's missiles get, the stronger and wider Israel's strike will be".

In some ways it appears Iran has been successful in its outreach to non-Shi'ite states such as Turkey and Qatar.

The kingdom previously lifted subsidies on electricity and fuel in late 2015, implemented a sin tax on tobacco and soft drinks this year and is introducing a 5 percent value added tax in January on most consumer goods, like food, and services.

The crown prince, backed by his father, has pushed through a number of dramatic social reforms this year, including a decision to allow women to drive next year, lifting a ban on movie theaters and granting girls access to physical education and sports in public schools. "If the mutual evaluation is not satisfactory, then the country must agree to an action plan to address the weaknesses identified by the assessment team".

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. He also said Israel was not patient enough to wait for new UN resolutions on Hezbollah and Iran.

Katz, who expressed his plans to lead Israel's right-wing Likud government in the future, said that Israel would act to prevent Iranian presence in Lebanon, which is home to the Shia Hezbollah movement.

The Middle East presents a unique cybersecurity threat and as a result, the energy sector has faced waves of cyberattacks, whether for financial gain or real world physical damage.

The poor attendance was not lost on commentators. "In an extreme case, Saudi Arabia may be financing, or will finance, an unsafeguarded uranium enrichment facility in Pakistan for later use, either in a civil or military program", the report said. While having been put in an awkward position, international condemnation of Mr. Trump's Jerusalem move has also increased Saudi leverage.

For one, Saudi Arabia has massively increased its rate of convictions for terrorist financing.

Israel and Saudi Arabia have no formal diplomatic relations.

But some observers have expressed concern about the changes.

The possible transfer could spark a new arms race in the Middle East and constitutes one explanation why Saudi responses to President Donald J. Trump's recognition of Jerusalem as the capital of Israel were muted and limited to rhetorical statements.

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