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Saudi Arabia’s PIF Discloses 8.2% Stake in Carnival Cruises
- April 7,2020
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- SUSTG Team
Saudi Arabia’s Public Investment Fund disclosed on Monday that it had acquired an 8.2% stake in Carnival Corporation & plc, operator of Carnival Cruise line, as of March 26, according to reports.
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Big Week for Oil Prices as Major Producers Scramble for a Deal
- April 6,2020
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- SUSTG Team
Saudi Arabia, Russia, OPEC countries and the United States are hoping this week a deal can be reached on production cuts to prevent the price of oil from falling further on international indices, but some analysts and market observers are skeptical that such a deal can come together given the current market dynamics.
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Jadwa Investment’s April 2020 Chartbook Shows Early Challenges for Saudi Economy Amid Global Coronavirus Outbreak
- April 2,2020
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- SUSTG Team
Jadwa Investment’s recently-released April 2020 Saudi Chartbook highlighting latest data for the Kingdom’s economy shows indications that the Coronavirus will have a negative impact on the economy as Saudi Arabia locks down to safeguard its citizens.
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Saudi Arabia Approves Government Asset Privatization on Local Stock Market
- April 1,2020
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- SUSTG Team
Saudi Arabia’s government approved the listing of government assets planned for privatization on its stock market, according to reports.
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G20 Finance Chiefs, Central Bankers Hold Digital Meeting for Second Time in a Week to Discuss Coronavirus Response
- March 31,2020
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- SUSTG Team
Finance ministers and central bankers from the Group of 20 major economies met by videoconference on Tuesday, the second such meeting in a week, to discuss a global response to the spread of the coronavirus the its impact on economy, Reuters reports.
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Kingdom Will Pay for Coronavirus Treatments, KSA Cases Reach 1453
- March 30,2020
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- SUSTG Team
Saudi Arabia will finance treatment for anyone infected with the coronavirus in the Kingdom, the health minister said on Monday, as Saudi’s total cases reached 1453, according to Reuters.
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‘We are determined to spare no effort’: G20 Leaders’ Summit Statement on COVID-19
- March 27,2020
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- SUSTG Team
Leaders of the G20 economies pledged on Thursday to inject over $5 trillion into the global economy to limit job and income losses from the coronavirus and “do whatever it takes to overcome the pandemic,” according to a statement from the G20 leaders.
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Saudi Arabia Enacts Curfew as Kingdom Seeks to Best COVID-19
- March 23,2020
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- SUSTG Team
Saudi Arabia has enacted a curfew to stop the spread of COVID-19 within the Kingdom’s borders, prohibiting citizens and residents from being outside the home at night for three weeks starting Monday.
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Saudi Arabia Expands Preventative COVID-19 Travel Restrictions as Some Analysts Praise Kingdom’s Response
- March 20,2020
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- SUSTG Team
Saudi Arabia continued to expand rules and regulations to prevent the spread of COVID-19 in the Kingdom and King Salman gave a rare speech to address the Saudi public on Friday, as the world seeks to stop the spread of the deadly virus and calm global markets.
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Report: Saudi Arabia Asks State Agency Heads to Prepare for Budget Cuts ‘of at Least 20%’
- March 11,2020
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- SUSTG Team
Saudi Arabia has asked state agencies to submit proposals for cuts of between 20% and 30% to their budgets “in a fresh austerity drive to cope with a sharp drop in oil prices” due to a looming price war between Russia and Saudi Arabia, Reuters reports, citing four sources familiar with the matter.
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MUST-READS
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Russia Nuclear Company Rosatom Starts Building of Egypt’s First Reactors
Egypt has developed stronger economic ties with Russia since El-Sisi became president in 2014, while retaining historic links to partners in the West. This year, it has participated in the St. Petersburg International Economic Forum and bought substantial amounts of wheat from Russia, while signing a deal with Israel to boost gas sales to the European Union as the bloc seeks to lower its reliance on energy imports from Moscow.
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Who is Outsmarting Whom? Khamenei Receives Putin in Tehran
Russia has historically used Iran as a bargaining chip in negotiations with the United States by commiserating over shared anti-American interests with Iran but ultimately selling Iran’s interests in return for even minor concessions from the United States, which may or may not have been related to Iran. It is therefore no surprise that Khamenei hopes for a “forever war” between Russia and NATO, which makes Moscow less likely to cut deals with Washington over Tehran’s head.
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Will Lucid Motors’ Saudi Arabian Connection Help Win Them A Big Aston Martin Partnership?
In its first year in production, EV manufacturer Lucid Motors won the coveted Motor Trend Car of the Year award with its Lucid Air sedan. Although their future appears bright regarding the design and sales of their own vehicles, they may also have a strong market with other automakers coveting their superior technology. One potential partnership that could be a mutual fit because of both companies’ connections to Saudi Arabia is a collaboration with luxury car legend Aston Martin.
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Will Lucid Motors’ Saudi Arabian Connection Help Win Them A Big Aston Martin Partnership?
In its first year in production, EV manufacturer Lucid Motors won the coveted Motor Trend Car of the Year award with its Lucid Air sedan. Although their future appears bright regarding the design and sales of their own vehicles, they may also have a strong market with other automakers coveting their superior technology. One potential partnership that could be a mutual fit because of both companies’ connections to Saudi Arabia is a collaboration with luxury car legend Aston Martin.
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Startup Ecosystem in Jeddah
StartupBlink ranks the startup ecosystems of 100 countries and 1,000 cities.
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Saudi Arabia Concludes its Participation at Farnborough International Airshow
Complimenting this Saudi Pavilion participation, were several key strategic announcements made by Saudi Arabia, chief of which was the announcement on the defense sector localization rate, which soared from 2% in 2018 to 11.7% in 2021. A multitude of defense platforms and capabilities were localized over this period, all contributing to enhancing operational readiness and strategic autonomy, through strategic and sustainable partnership building. The overarching goal: localizing more than 50% of expenditure on defense equipment and services, by the year 2030.
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Opinion: Iran should take the chance to build a partnership with the Gulf
There are now several commonalities between the Arab Gulf states, Iraq, Egypt and Jordan. These nations, which represent Arab moderation, have a clear vision of security and peace in the region. It will not be easy for Iran to fully integrate with them, but they can find many commonalities that Tehran can work on to build trust and cooperation.
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Sommet Education starts training next generation of Saudi Arabia Tourism professionals
The first group of Saudi students arrived at les Roches Global Hospitality Education on its campus in Marbella, Spain. This short program aims at equipping students with the fundamentals of Tourism Business and Operations from understanding housekeeping Operation to Customer Experience or Sales and negotiation skills.
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Saudi Arabia’s Manga Productions to set up new headquarters in Mohammed Bin Salman Non-Profit City
After releasing the first-ever Saudi-Japanese animated film last year, Manga Productions is set to move its headquarters to the Prince Mohammed Bin Salman Non-Profit City. The new city, which will open in 2024, will host Manga Productions as part of its new media sector. It will allow creative talent in the kingdom to live, learn, and grow through global collaborations and international creatives.
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U.S. State Department OKs potential sale of C-17 aircraft support to UAE -Pentagon
The U.S. State Department has approved the potential sale of C-17 aircraft sustainment and related equipment to the United Arab Emirates for an estimated cost of $980.4 million, the Pentagon said on Tuesday. Despite approval by the State Department, the notification does not indicate that a contract has been signed or that negotiations have concluded.
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