Browsing Tag

Saudi Arabia

4 posts

Saudi announces investment deals at Arab-China summit

Saudi Arabia and China have signed billions of dollars in investment deals at the China-Arab business conference in Riyadh. The agreements cover various sectors including technology, agriculture, renewable energy, and tourism. The conference reflects the growing commercial and diplomatic ties between China and Middle Eastern countries, including recent efforts to improve relations between Iran and Saudi Arabia.

Death penalty around the world

Amnesty International reports that at least 579 people were put to death in 18 countries in 2021, with three countries – Iran, Egypt, and Saudi Arabia – accounting for 80% of all reported executions. The global trend remains towards abolition, with 108 countries having formally abolished the death penalty for all crimes by the end of 2021. However, Amnesty warns that the recorded increase in executions in 2021 should act as a warning that pressure to abolish the death penalty must continue.

Oil powers announce surprise cuts of more than 1 million bpd

Saudi Arabia and other major oil producers announced a surprise production cut of more than one million barrels per day on Sunday, citing it as a “precautionary” move aimed at stabilising the market. The reductions, on top of a Russian decision to extend a cut of 500,000 barrels per day, risk stoking inflation and pressure to raise interest rates. The cuts follow a drop in oil prices triggered by jitters over the banking sector.

Saudi agrees to partner with China-led security bloc

Saudi Arabia has agreed to become a “dialogue partner” with the Shanghai Cooperation Organization, a political, economic, and security organization that includes China, India, Pakistan, Russia, and four central Asian countries. This move follows a recent reconciliation deal brokered by China between Saudi Arabia and Iran to restore full diplomatic relations.