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Report: Donald Trump Set Up Four Businesses Related to a Jeddah, Saudi Arabia Hotel Project While Campaigning for President in August 2015
- May 19,2016
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- SUSTG Team
Republican frontrunner Donald Trump set up four companies related to a possible hotel project in Jeddah, Saudi Arabia while campaigning for president in August 2015, according to a report by BuzzFeed news, citing the candidate’s latest financial disclosure filings released on Wednesday. According to the report, on August 21, 2015, Trump became president and owner of […]
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Responding to Bloomberg Freedom of Information Act Request, U.S. Treasury Reveals How Much U.S. Debt is Held by Saudi Arabia
- May 17,2016
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- SUSTG Team
The U.S. Treasury Department revealed for the first time ever how much debt Saudi Arabia is holding, breaking an unusual and longstanding policy of secrecy regarding how much the Kingdom holds. Saudi Arabia held $116.8 billion in U.S. debt at the end of March. That is down 6% from its highest level in January 2016. Bloomberg first reported the […]
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Secretary Kerry Meets with Saudi Leaders in Jeddah Ahead of Crucial Syria Talks
- May 16,2016
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- SUSTG Team
Secretary of State John Kerry travelled to Jeddah, Saudi Arabia to meet with Saudi Arabia’s King Salman and other Saudi officials ahead of critical talks on Syria, according to reports. The Secretary, who also met with Crown Prince Mohammed bin Naif and Foreign Minister Adel Al-Jubeir, “discussed a range of regional issues – Yemen, Libya, […]
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Saudi Aramco Energy Ventures Steps Up Investments in U.S.
- May 13,2016
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- SUSTG Team
Saudi Aramco ventures, the venture capital arm of the state-owned Saudi oil giant, has increased its investments in early stage and high growth companies in energy, petrochemicals, and renewables recently with two investments into U.S. companies, according to Forbes. The Dhahran, Saudi Arabia-based VC can is looking to invest $1 million and $30 million per […]
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Saudi General’s New Warning on Yemen’s Capital Underscores Importance of Latest U.N.-Backed Peace Talks
- May 12,2016
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- SUSTG Team
The Saudi-led coalition will fight to regain Yemen’s capital city from Houthi rebels if current peace talks backed by the United Nations collapse, according to Saudi Arabia’s Brigadier General Ahmed Asseri, who has been the official spokesman for the Saudi military during the conflict. The threat underscores the importance to Saudi Arabia of bringing a lasting solution to […]
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How Riyadh’s King Abdullah Financial District’s Future Has Shifted
- May 11,2016
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- SUSTG Team
Riyadh’s unfinished King Abdullah Financial District (KAFD) located halfway between downtown Riyadh and King Fahd International Airport is headed for new ownership and a revised master plan. KAFD – the city within a city that was originally designed to be home to the Kingdom’s banks and international financial houses – will soon be owned by […]
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Graphic: Saudi Arabia Reshuffles Government Leaders, Modifies Ministries
- May 9,2016
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- SUSTG Team
Saudi Arabia’s King Salman issued a Royal Order on Saturday, May 7th, 2016 making changes to the government structure and key leaders. The Royal Order follows the recently released ‘Vision 2030’ economic and development plan to transform the Saudi economy and society into the 21st Century. The full text of the changes as issued by […]
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Ahead of ‘Vision 2030’, Saudi Arabia Tested Foreign Lending Appetite
- May 6,2016
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- Lucien Zeigler
Ahead of Saudi Arabia’s landmark Vision 2030 announcement, the Kingdom tested its credit-worthiness from international lenders by raising $10 billion, despite downgrades by Moody’s and Standard & Poor’s (S&P) earlier this year. Not only was Saudi Arabia able to easily raise the funding, the issuance was oversubscribed – so much so that the Kingdom increased […]
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Difficult Times for the Saudi Binladin Group
- May 5,2016
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- SUSTG Team
The Saudi Binladin Group (SBG) is facing its toughest challenges in the construction giant’s 85 years of operation as tightened government spending and a 8-month restriction on new projects in the pipeline has undermined the company’s finances. Saudi Binladen has announced a reduction in jobs totaling 77,000, or about one-third of its total workforce. “The […]
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Jadwa Investment: ‘Vision 2030’ Plan May Help Saudi Avoid Significant Fiscal Deficit
- May 5,2016
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- SUSTG Team
Jadwa Investment’s recently released economic analysis on Saudi Arabia’s ‘Vision 2030’ finds that Saudi Arabia’s new plan to move toward sustainability may help it avoid a looming fiscal crisis. Calling the plan “major and ambitious,” the Riyadh-based Jadwa looks at what might hypothetically happen if Saudi Arabia were to do nothing about the harsh fiscal […]
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War on Gaza: Netanyahu hindering deal again by changing demands, source says
Israeli Prime Minister Benjamin Netanyahu has returned to his “evasive approach” in the Gaza ceasefire talks, hindering negotiations, an Egyptian source has told the Al-Araby Al-Jadeed news outlet. The source, who was described as “familiar with the negotiations,” said in the Wednesday report that the change in the Israeli positions surprised mediators and slowed recent progress made in the indirect talks with Palestinian movement Hamas. Netanyahu submitted a new list of demands, which included modifications regarding the captives Israel wants to be released, as well as additional conditions related to the timeline for the army’s withdrawal during that phase of the proposed agreement, the source said. He added that talks were “proceeding very well” until the latest Israeli changes.
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How Stealthy F-22 Raptors Learned to Take on Elusive Iranian Threats in the Middle East
As America’s premier air superiority fighter, the F-22 was designed to take on advanced enemy aircraft, capable of maneuvering stealthily and cruising at supersonic speeds. But the dangers that most concerned Johnson and his Airmen included Iranian-designed drones and cruise missiles that Tehran and its proxies have employed during the most recent stretch of unrest in the Middle East. Though the drones posed less of a threat to the F-22s than a high-end Chinese fighter, downing them presented some challenges. Like the F-16s and F-15Es, the F-22s that have been deployed to the region in recent months have Active Electronically Scanned Array (AESA) radars, which makes detecting drones easier, a senior U.S. defense official noted to Air & Space Forces Magazine. But it is still not an easy task. Not only were the drones very small, but their slow speed always made them hard to detect.
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Israel allocates $150m to sway global opinion over Gaza genocide
The 20-fold funding increase aims to boost Tel Aviv’s narrative and justification of its war against the besieged enclave while portraying the Palestinian struggle as “anti-Semitic” and as a form of “Nazi” terrorism aimed at eliminating Jews and to promote Islamophobia in European countries in an effort to paint the Palestinian struggle as no different from Daesh. The aim of such action is to end sympathy or support for the Palestinian cause and justify the genocide being orchestrated in Gaza.
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Unstoppable Oman beat Saudi Arabia 2-1 to enter Gulf Cup final
With temperatures at a chilly 18°C, the electrifying atmosphere was fueled by passionate supporters waving flags and chanting for their teams. Coach Rashid Jaber faced a daunting task, making last-minute changes due to injuries and yellow card suspensions. Still, his confidence in his squad proved well-placed as Oman battled fiercely from start to finish. The game started with Saudi Arabia in control, threading passes and creating early chances. Oman’s goalkeeper, Al Rushaidi, made a brilliant save from a stinging free-kick, keeping the scores level. Saudi’s dominance persisted through the opening minutes, with Oman struggling to find their rhythm.
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Saudi Arabia says it executed six Iranians for drug trafficking
Six Iranian citizens have been executed in Saudi Arabia on charges of drug trafficking, Riyadh’s Ministry of Interior announced on Wednesday. The ministry did not provide further details regarding the time of arrest, trial, and execution. The executions took place in Dammam, located along the coast of the Persian Gulf, according to the official Saudi Press Agency. The Iranians were put to death for their involvement in smuggling hashish into Saudi Arabia, the interior ministry said. Saudi Arabia has executed 330 people this year, marking the highest number in decades, despite Crown Prince Mohammed bin Salman’s 2022 claim that the death penalty would be limited to murder cases under his vision of a modernized kingdom.
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GASTAT: Saudi Women’s Participation in the Labor Force Reaches 36.2%
The General Authority for Statistics (GASTAT) released today the Labor Market Bulletin for the third quarter of 2024. Figures show that the unemployment rate among Saudis in Q3 of 2024 was 7.8%, an increase of 0.7 percentage points over Q2 of this same year, and a year-on-year decrease of 1 percentage point from Q3 2023. The bulletin also shows that the Saudi and non-Saudi labor force stood, in Q3 of this year, at 66.6%, a 0.4 percentage point increase over Q2 of 2024. Among Saudis, the labor force grew by 0.7 percentage points in Q3 2024, to reach 51.5%, marking a year-on-year increase of 0.7 percentage points. The employment-to-population ratio among Saudis went up by 0.2 percentage points, reaching 47.4%, or an annual growth of 1.1 percentage points. The bulletin also highlighted the growth of Saudi women's participation in the labor force, which increased by 0.8 percentage points, to 36.2%, in the mentioned period.
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Saudi Arabia’s unemployment rate hits 3.7%: GASTAT
Saudi Arabia’s unemployment rate dropped to 3.7 percent in the third quarter of 2024, down 0.5 percentage points from last year, official data showed. According to data released by the General Authority for Statistics, labor force participation across Saudis and non-Saudis reached 66.6 percent during the third quarter, reflecting a year-on-year increase of 0.2 percentage points and a quarterly rise of 0.4 percentage points. The unemployment rate increased by 0.4 percentage points compared to the second quarter of this year.
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Saudi Arabia orders removal of unlicensed hospitality venues from booking sites, warns of $266,000 fines
This directive is part of a broader campaign aimed at improving adherence to licensing and classification standards within the hospitality sector. The ministry seeks to ensure that all facilities meet the conditions and requirements stipulated in the Tourism Law and its associated regulations. The ministry stressed that all tourist and private hospitality facilities must obtain or renew their licences before commencing operations. Operating without a valid licence will result in penalties, including fines of up to SR1m ($266,000), facility closure, or both. Violations may also be disclosed publicly.
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Saudi Arabia bans use of ‘sponsor,’ mandates ’employer’ for government and private entities
The Ministry of Commerce in Saudi Arabia has instructed both government and private entities to refrain from using the term 'sponsor' and instead use 'employer' in all official documents. The ministry emphasised that, according to Article 2 of the Labour Law, the term 'employer' refers to "any natural or legal person who employs one or more workers in return for a wage." This directive was conveyed through a letter sent by the Ministry to the Federation of Saudi Chambers, which subsequently issued a circular to chambers of commerce and industry across the Kingdom.
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Saudi Arabia launches humanitarian air bridge to Syria to deliver food, shelter and medical supplies
Saudi Arabia on Wednesday launched a humanitarian air bridge to Syria, delivering food, shelter and medical supplies' The air bridge, established by the King Salman Humanitarian Aid and Relief Centre (KSrelief), aims to 'alleviate the effects of the difficult conditions currently facing the Syrian people', the official Saudi Press Agency reported. Others, including the European Union and Ukraine, have also announced aid for Syria, where the United Nations said seven out of 10 people need support. Riyadh's air bridge will 'be followed by another land bridge in the coming days,' said Abdullah al-Rabeeah, the head of KSrelief.
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