Special Report | Prince Muqrin Named 2nd Deputy PM

Source: SUSRIS (Read full story)

Prince Muqrin Bin Abdul Aziz was appointed Second Deputy Premier by King Abdullah on Friday according to the Saudi Embassy Washington. Muqrin, who served as Advisor and Special Envoy to the King since being relieved as head of Saudi intelligence last July, was to take up his new position immediately. He becomes the fifth prince in the history of the Kingdom to be named to the post which has seen previous incumbents eventually elevated to Crown Prince, direct successor to the throne. The post has been vacant since Prince Nayef was named Crown Prince in October 2011.

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Opposition rejects reconciliation talks – Change of heart on loans?

Source: Kuwait Times (Read full story)

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The Majority Bloc released a statement late Wednesday night following a meeting hosted by former speaker Ahmad Al-Saadoun, in which they reiterated solidarity with jailed activists for statements posted on Twitter or any other means. “Prosecution doesn’t provide a platform to find a way out of the predicament that was created by the government with total disregard to the repercussions of their step on the political and social levels”, the statement reads.Two Kuwaitis were sentenced to prison early last month after the court found them guilty of insulting HH the Amir and undermining his status, in cases they filed over statements they posted on Twitter.

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Islamic banking assets to surpass $1.8t globally in 2013

Source: The Saudi Gazette (Read full story)

Global Islamic banking assets are forecast to cross $1.8 trillion in 2013 up from $1.3 trillion in 2011, Ernst & Young said in its World Islamic Banking Competitiveness Report 2013. It noted that the Islamic banking industry continues to record robust growth, with the top 20 Islamic banks registering a growth of 16 percent in the last three years. The report said the Islamic banking industry in Saudi Arabia – with an estimated $207 billion of Islamic assets – was ranked first in 2011 followed by Malaysia with total assets of $106 billion and UAE third with total assets of $75 billion.

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GCC projects to be awarded in 2013 forecast to hit $64.5b

Source: Khaleej Times (Read full story)

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The report said all markets across the GCC had risen, mostly driven by new project announcements. The report said this is the first period since the first quarter of 2010 that the UAE has shown growth in its construction market which is up six percent to $614 billion. “This is driven by the recently announced Dubai mega real estate projects,” it added. In 2012, residential, commercial and hospitality sectors led the GCC projects market; with $29.4 billion, $12.2 billion and $5.5 billion worth of projects completed respectively.

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Security Council should act to prevent massacres: PM

Source: The Peninsula (Read full story)

Qatar’s Prime Minister and Foreign Minister H E Sheikh Hamad bin Jassem bin Jabor Al Thani has said that global security will be at risk as long as the UN Security Council fails to issue a resolution to prevent massacres committed by dictatorships. These massacres, he added, blatantly violate international law and conventions, and are an attempt by dictators to retain power. The premier was speaking at the 49th Munich Security Conference (MSC), an annual high-level security meeting, that brings together decision makers on foreign affairs and defence from around the world.

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Khalifa Bin Zayed Al Nahyan Foundation distributes 7,400 food baskets in Yemen

Source: Gulf Today (Read full story)

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The Khalifa Foundation has carried out two phases of the humanitarian programme during which about 85,000 food baskets to needy families have been distributed, with one basket each family, reaching out to the governorates of Abyan, Hodeidah, Hadramout, Aden and Socotra. The foundation mission adopted the distribution of food in exchange of coupons, coordinating the process with local officials in the Yemeni districts to account for the total number of needy families in every neighbourhood and allocate coupons in their names to ensure just distribution of the foodstuff directly to the families.

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