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Recent stories from sustg
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Goldman Sachs set to open Regional HQ in Riyadh
Bloomberg reports that Goldman Sachs Group Inc. has become the first Wall Street bank to receive a license from the Ministry of Investment to set up its regional headquarters in Riyadh.
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“The Clean Hydrogen Economy and Saudi Arabia”: A Roadmap to Energy Leadership
Faculty and researchers from King Abdullah University of Science and Technology (KAUST) and King Abdullah Petroleum Studies & Research Center (KAPSARC) have unveiled a new publication: “The Clean Hydrogen Economy and Saudi Arabia.”
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Fakeeh Care Group 119 times oversubscribed as Saudi IPO market heats up
Investors put in $91 billion of orders for Fakeeh Care Group’s IPO which is set to be the Tadawul’s biggest listing of the year.
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Nusuk pilgrim card launched
With the 2024 Hajj expected to begin June 14, Minister of Hajj and Umrah Dr. Tawfiq Al-Rabiah released the Nusuk card by presenting its copy to Indonesian Minister of Religious Affairs Yaqut Cholil Qoumas in Jakarta on Tuesday, April 30, during his official visit to Indonesia.
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Saudi Space Agency and WEF Establish Space C4IR Center
The World Economic Forum has signed an agreement with the Saudi Space Agency to establish a Centre for the Fourth Industrial Revolution (C4IR) focused on space. The Centre for Space Futures, set to open in autumn 2024, will be hosted by the Saudi Space Agency.
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IMF Launches New Regional Office in Saudi Arabia
The goal of the new office is to strengthen the IMF’s collaboration with governments and institutions in the Middle East including promoting economic stability, growth, and regional integration. It also underscores the growing economic importance of the region.
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Global Defense Spending Spikes in 2023
According to a study by Forecast International in 2023 global defense spending grew at its fastest pace in the last decade as governments respond to security crises unfolding around the world.
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Prospects for Saudi Arabia hitting 2030 Renewable Energy Targets
In 2016 Saudi Arabia’s Vision 2030 had an initial target of deploying 9.5GW of green energy by 2030. The latest revision made in 2023 targets 130GW of renewable power capacity by 2030. GlobalData, a leading data and analytics company, says the Kingdom can come close to that target.
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Saudi Arabia Fares Well in 2024 Kearney FDI Confidence Index
Ongoing economic and business-related reforms helped the United Arab Emirates and Saudi Arabia post the biggest jumps in Kearney’s 2024 Foreign Direct Investment Confidence Index. The countries climbed ten spots from 2023, to eighth for the UAE and 14th for Saudi Arabia.
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U.S. Ambassador Michael Ratney joins The 966 for a truly informative Episode #127
U.S. Ambassador Michael Ratney shares his insights with The 966 in a wide-ranging conversation with Richard Wilson. Just over one year in his position, Amb. Ratney offers his perspective on change in Saudi Arabia and an evolving U.S.-Saudi relationship.
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MUST-READS
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Will Houthi ‘revolution’ upend Yemeni republicanism?
The first derives from the ancestors of the Houthis; the Zaydi Imams, a Shiite Islamic school of thought that governed northern Yemen for centuries. One central pillar of Zaydism is that the spiritual leader of Muslims must be a Hashemite, or a direct descendant of Prophet Muhammad. The second source of inspiration is a cornerstone of contemporary Shiite political thought known as Wilayat Al-Faqih or Guardianship of the Jurist. Entrusting a cleric with executive political power—also preferably a direct descendant of Prophet Muhammad—the Iranian state has operated under this model since the country’s 1979 Islamic Revolution.
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How Close Are We To A ‘Historic’ US-Saudi Deal?
Despite the mutual enthusiasm for the deal, Ratney would not be drawn on the exact timeline for its conclusion, warning there were many moving parts, in particular the willingness of Israel to hold up its end of the bargain. “I don’t think there’s anybody involved in these negotiations that wouldn’t like to have it finished tomorrow,” Ratney told Katie Jensen, the host of “Frankly Speaking.”
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What’s in Biden’s 3-phase plan to end the war in Gaza?
Over the weekend, an aide for Israeli Prime Minister Benjamin Netanyahu said the country had accepted a framework agreement for winding down its ongoing military campaign in Gaza, while insisting that the proposal put forth by Biden was “not a good deal” and that "there are a lot of details to be worked out." The plan arrives eight months after the Oct. 7 Hamas attacks that left an estimated 1,200 dead in Israel. Since then, over 36,000 Palestinians and more than 600 Israeli soldiers have been killed in the ongoing war, while an estimated 84 people are still being held hostage in Gaza, according to multiple news outlets.
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Will Saudi-Iranian Relations Be Affected By Raisi’s Demise?
The Saudi government took further steps by dispatching a delegation to Tehran, including Prince Mansour bin Miteb bin Abdulaziz, adviser to King Salman and minister of state, and Foreign Minister Prince Faisal bin Farhan. They were joined by Saudi Ambassador to Tehran Abdullah Al-Anazi. The delegation met with Acting Foreign Minister Ali Bagheri Kani and paid their respects to the victims of the helicopter crash.
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Saudi just got its first silent airport – can you guess where it is?
Management issued this decision based on keeping up with the best global practices applied in several international airports around the world such as in Singapore Changi International Airport, Zurich International Airport, Dubai International Airport and more. Abha International Airport will no longer announce flight details during boarding. Instead, you’ll be getting all the relevant accurate information through flight display screens.
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Are new agencies meeting Saudi brand needs?
The Saudi Arabian marketing landscape is abuzz with new agencies emerging almost daily, each promising unparalleled creativity to eager brands. Amidst this whirlwind of pitches and presentations, the question arises: are these agencies genuinely addressing the evolving needs of Saudi brands? Campaign Middle East heard from Abdulelah Al Nahari, Business Director at Fuse Integrated. He shed light on what new agencies entering the Saudi market should keep in mind in the early stages of their operations.
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Who Replaces Iran’s President Raisi? It’s the Wrong Question
The rise of Raisi, an ally of Khamenei, was part of a broader strategy to consolidate power among hardliners and ensure the regime's stability. His election in 2021, amid record-low turnout and allegations of rigging, signaled that the ruling apparatus no longer saw elective offices as necessary pressure valves for a discontented populace. This strategy held even during the intense protests following the death of Mahsa Amini in 2022, which saw brutal crackdowns ordered by Raisi. Often called the "Butcher of Tehran," Raisi was known for his harsh crackdowns on dissent and his role in the mass executions of political prisoners in 1988. His death throws a wrench into the hardliners' plans and raises questions about the future leadership of Iran.
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Is Kuwait’s National Assembly history?
Sheikh Meshaal Al-Ahmad Al-Sabah’s decision to dissolve Kuwait’s National Assembly this month is a significant development. In an announcement on state television, the Emir declared that for “a period of no more than four years,” the parliament and parts of the constitution would be suspended and under review. “I will not allow democracy to be exploited to destroy the country,” said Sheikh Meshaal, who claimed he was required to make “difficult decisions to save the country.”
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How are Ronaldo and other Saudi Pro League stars shaping up for Euros?
England kick off Euro 2024 against Serbia on 16 June and if Jordan Henderson is called up then the former Al-Ettifaq midfielder should be able to give Gareth Southgate an idea of the form Aleksandar Mitrovic and Sergej Milinkovic-Savic are in. They are two of a growing number of European internationals who will be acting as unofficial ambassadors for the Saudi Pro League (SPL) this summer – especially if they underperform.
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Will Saudi Arabia’s sports investment trigger an athleisure boom?
By 2030, the government aims to increase the ratio of individuals exercising at least once a week to 40 percent. With an expanding base of sports practitioners, the country’s sportswear and athleisure apparel market is set to boom. In 2022, the category generated $1.3 billion (SAR 4.9 billion) in sales, and by 2027, it is expected to reach $1.5 billion. Could Saudi Arabia be the next frontier for sportswear?
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