Red Sea News
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Saudi Arabia’s Water and Electricity Ministry approved more than 5.9 billion riyals ($1.6 billion) in spending for water and sanitation projects in Jazan on the Red Sea coast, state-owned Saudi Press Agency reported.
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Kerzner International Holdings Ltd., builder of Atlantis resorts in the Bahamas and Dubai, formed a partnership to construct Saudi Arabia’s first One & Only resort.
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West Texas Intermediate crude rose on speculation that central banks will bolster stimulus after more Americans than projected filed for unemployment benefits and U.S. consumer prices decreased.
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When 16th and 17th century European explorers sailed west in pursuit of a trade route to Asia, their search for a Northwest Passage was foiled by Arctic ice.
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Djibouti is in talks with India, China, Brazil, Russia and Arab investors to finance infrastructure projects worth $5.9 billion, the head of the country’s ports authority said.
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The Kuwait Fund for Arab Economic Development awarded Jordan $215 million in grants for liquefied natural gas and wind power projects.
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Israeli Prime Minister Benjamin Netanyahu arrives in China today to tighten economic ties and urge China’s new leaders to clamp down harder on Iran and its ally Syria, amid reports of Israeli airstrikes there.
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Saudi Arabia’s national water company agreed to a 2.2 billion-riyal ($587 million) supply deal with Jeddah Economic Co. for the Kingdom tower project in the Red Sea port of Jeddah, Saudi Press Agency reported.
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A no-alcohol hotel opened yesterday in the Red Sea resort town of Hurghada, state-run Middle East News Agency said, amid charges by the country’s opposition that an Islamist agenda is taking root.
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The International Monetary Fund urged Sudan to divert more than $3 billion in compensation it’s set to receive from South Sudan to back reforms that will provide the government with more reliable revenue streams.
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