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Johnson Favored as Saudi Arabia Gears Up for 3rd Saudi Invitational; Nicklaus Agrees to Design New Course at Qiddiyah
- February 2,2021
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- SUSTG Team
Saudi Arabia’s flagship annual golf tournament begins Thursday with world number one golfer Dustin Johnson as the favorite to win at the Royal Greens Golf Club in King Abdullah Economic City, Saudi Arabia. The Saudi Invitational, presented by the Public Investment Fund offers a purse of €3,019,002 ($3,630,712.19), with the strongest-yet field of 138 players set to compete. 12 Major […]
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In ‘Routine’ Action, New Biden Administration to Review Some Arms Sales from Previous Administration to Saudi Arabia, UAE
- January 28,2021
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- SUSTG Team
President Joe Biden’s administration has temporarily paused some pending arms sales to U.S. allies in order to review them, a move that is typical for most new incoming administrations, especially if arms sales are announced just hours before the outgoing administration departs.
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First American Chamber of Commerce Established in Riyadh; ABGR Becomes AmCham KSA
- January 20,2021
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- SUSTG Team
The American Business Group of Riyadh (ABGR) has formally become part of the global network of the American Chambers of Commerce with the announcement that the group will now be known as the American Chamber of Commerce in Saudi Arabia (AmCham KSA), the first such establishment of its kind in the Kingdom.
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Saudi Arabia Postpones Riyadh Airport Expansion Financing after Pandemic
- January 12,2021
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- SUSTG Team
The global pandemic and its impact on travel is causing the Kingdom to delay its plans to raise financing “potentially worth billions of dollars” for the expansion of Riyadh’s airport, sources told Reuters.
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Positive Economic Data Seen in Latest Saudi Chartbook for January 2021 – Jadwa Investment
- January 4,2021
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- SUSTG Team
A more optimistic Saudi private sector reacting to the start of the vaccine rollout in the Kingdom is is being credited for positive data seen for Saudi Arabia’s economy, Jadwa Investment says in its latest Charbook for the month of January 2021. Saudi Arabia’s non-oil PMI saw a significant monthly rise in November, the latest data available and reported […]
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Crown Prince Mohammed bin Salman, Other Top Saudi Officials Get Vaccinated Against Coronavirus
- December 28,2020
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- SUSTG Team
Crown Prince Mohammed bin Salman and top Saudi officials have begun receiving their first dose of the Coronavirus vaccine, imported to the Kingdom earlier this month and rolled out on December 17th, according to the Saudi Press Agency. Wearing a black thobe with his left arm bare to receive the shot, the Crown Prince made a point to ensure […]
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Saudi Arabia Unveils 2021 Fiscal Budget with Spending Reductions, Eying Economic Rebound
- December 16,2020
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- SUSTG Team
Saudi Arabia unveiled a new budget for the 2021 year, cutting spending to rein in a fiscal deficit brought on by a lower oil prices in 2020 and adjusting the Kingdom’s fiscal strategy to a post-Coronavirus pandemic era.
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Saudi-Owned Lucid Motors Completes Phase 1 of Arizona Factory Build, Eyes 2021 Production
- December 8,2020
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- SUSTG Team
Saudi-owned Lucid Motors, a forthcoming EV rival to Tesla, announced that it completed the first phase of construction at its factory in Arizona, eying production of up to 400,000 electric cars per year at the facility after future expansions. Lucid completed the first phase of construction of its factory in Casa Grande, Arizona, and is aiming to start […]
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Saudi Arabia, Yemen’s Houthis on Cusp of ‘Breakthrough’ Deal if Buffer Zone Established – Report
- November 18,2020
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- SUSTG Team
Saudi Arabia and Yemen’s Iran-backed Houthis are on the cusp of a “breakthrough” nationwide ceasefire agreement, Reuters reports, on the condition that the Houthis agree to an establish a buffer zone between the two countries.
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Saudi Arabia Announces Planned Reforms to Expatriate Labor System, in Place for Seven Decades
- November 5,2020
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- SUSTG Team
Saudi Arabia on Wednesday announced plans to abolish the seven-decade-old labor sponsorship system known as “kafala” in the Kingdom, a step forward for the country’s modernization drive and economic reform plans, according to reports.
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MUST-READS
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Tech for a Better WorldA Saudi university team wins big at massive tech event in the U.S.
A team representing Saudi Arabia's King Abdullah University of Science and Technology (KAUST) achieved quite the feat at the 2020 Consumer Electronics Show (CES) Innovation Awards ceremony in Las Vegas last week.
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Iran“We’re always ready”: Would the U.S. win a cyberwar with Iran?
cybersecurity experts remain deeply concerned about the potential for more clandestine acts of retaliation. Iran, after all, is notorious for its use of asymmetric warfare. In 2018, U.S. officials warned that Iranian hackers had laid the groundwork for extensive cyberattacks on U.S. infrastructure, including electric grids and water plants, as well as healthcare and technology companies. Might they seize the opportunity to attack?
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Al-Asad AttackU.S. commanders at al-Asad base believe Iranian missile barrage was designed to kill
The attack lasted more than an hour and a half, commanders said, with explosions illuminating the landscape for miles. In interviews, more than a dozen troops described feeling the air turn warm as light filled the night sky and shock waves ripped through the air. Lt. Col. Staci Coleman, who oversees airfield operations, described the absence of serious injuries as "miraculous."
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GCC EconomiesU.S.-Iranian Tensions Offer Stress Test for Gulf Arab Economies
The World Bank slashed growth forecasts for Gulf economies, owing to geopolitical tensions and lower oil demand, and Moody’s issued a negative outlook for Gulf sovereign creditworthiness.
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Oil MarketsU.S. oil growth to slow, may spur shale buyouts: Schlumberger’s Papa
U.S. oil output growth is expected to slow over the next five years, likely prompting oil majors to “gobble up” smaller shale oil producers, Mark Papa, shale pioneer and non-executive chairman of Schlumberger, told Reuters.
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U.S.-IraqU.S. Warns Iraq It Risks Losing Access to Key Bank Account if Troops Told to Leave
Iraq, like other countries, maintains government accounts at the New York Fed as an important part of managing the country’s finances, including revenue from oil sales. Loss of access to the accounts could restrict Iraq’s use of that revenue, creating a cash crunch in Iraq’s financial system and constricting a critical lubricant for the economy.
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Pensacola AttackU.S. to announce ‘actions’ after Saudi military trainees review
Several news outlets, including CNN, Washington Post and the Associated Press, reported that more than a dozen Saudi servicemen who are training at U.S. military bases will be expelled from the United States.
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GCCU.S.-Iran Crisis Promotes Sudden GCC Unanimity and Common Purpose
It’s not surprising that Qatar, Oman, and Kuwait were keen on avoiding the U.S.-Iranian escalation. But it is more noteworthy that Saudi Arabia, the UAE, and Bahrain – which regarded Suleimani and his Iraqi clients as deadly enemies – would be similarly committed to de-escalation and the avoidance of further conflict. Yet the prospect of a broader regional conflict has been alarming to these states for many months, if not years.
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U.S.-IraqPerspective: The U.S. Security Dilemma in Iraq
Iraqi military officers and politicians who fear growing Iranian proxy integration into the government, security services, and economy see a continued U.S. presence as the only way to blunt Iran’s two-pronged campaign to seize power by proxy violence and growing electoral influence.
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AfghanistanAs Iran and U.S. Trade Blows, Afghanistan Sweats Between the 2 Powers
In the days after a United States drone strike killed Iran’s top intelligence and military operative, President Ashraf Ghani of Afghanistan scrambled to keep his country out of a cycle of escalation between the two powers.
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