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Iraqi Prime Minister Adil Abdul-Mahdi Visits Saudi Arabia as Relations Warm
- April 18,2019
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- SUSTG Team
Iraqi Prime Minister Adil Abdul-Mahdi and a delegation visited Saudi Arabia yesterday and met with King Salman and Crown Prince Mohammed bin Salman, as relations between the two nations continue to warm. The Prime Minister’s office said the leaders signed 13 agreements in areas such as trade, energy and political cooperation, without giving further details, according to […]
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Princess Reema Bint Bandar Sworn In as Ambassador to the United States
- April 16,2019
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- SUSTG Team
Princess Reema bint Bandar bin Sultan al-Saud was sworn in on Tuesday as Saudi Arabia’s next Ambassador to the United States, according to the Saudi Press Agency. The swearing in took place at Al-Yamamah Palace in Riyadh. Princess Reema is the first Saudi woman to hold the high-ranking diplomatic post after a royal decree appointed […]
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Saudi-based Telecom Firm Arabsat is SpaceX’s First Commercial Mission, Falcon Heavy Launch Successful
- April 12,2019
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- SUSTG Team
SpaceX’s Falcon Heavy successfully launched its first commercial mission today with Saudi-based telecom firm Arabsat as its customer in a key demonstration for billionaire entrepreneur Elon Musk’s space company in the race to grasp lucrative military launch contracts, Reuters reports and the companies involved confirm. The Falcon Heavy rocket blasted off from Florida’s Kennedy Space Center […]
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Orders for Saudi Aramco’s Debut International Bond Topped $100 billion in ‘Vote of Market Confidence’
- April 9,2019
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- SUSTG Team
Orders for Saudi Aramco’s debut international bond topped $100 billion on Tuesday, Reuters reports, in what amounts to a “record breaking vote of market confidence” for Aramco after facing investor concerns about government influence over the company. Al-Falih had previously said the $10 billion bond offering had been oversubscribed well above $30 billion. Demand appeared […]
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Saudi Aramco Agrees to Buy 70% Stake in SABIC from Kingdom’s Public Investment Fund
- March 28,2019
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- SUSTG Team
Saudi Arabia’s national oil company Saudi Aramco has agreed to buy a 70% stake in Saudi Basic Industries Corporation (SABIC), the kingdom’s leading petrochemical firm, for $69.1 billion in a private transaction, SABIC said in a press release. The move continues Saudi Aramco’s plans to diversify away from oil to “generating more of its profits […]
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950,000 SMEs Registered in Saudi Arabia — Jadwa Investment
- March 20,2019
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- SUSTG Team
A recent report by Jadwa Investment highlights the progress being made in the development of Small and Medium-Sized Enterprises (SMEs) in Saudi Arabia and the significance that these crucial elements of a diverse economy can have on sustainable growth in the Kingdom. Saudi Arabia is focusing on SME development with its Vision 2030 social and […]
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Second ‘Mega Entertainment Hub’ Planned for Riyadh Will Be Over 30 Acres
- March 12,2019
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- SUSTG Team
Saudi authorities have announced a second major entertainment hub for citizens and visitors of the Kingdom’s capital city, Riyadh. At over 135,000 square meters (33 acres), the new complex will be located in the Al-Rabwa neighborhood of Riyadh and have metro line access via the Salah Al-Din station of the soon-to-be-completed Riyadh metro mega project, the […]
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General Abizaid Faces Tough Questions from U.S. Senators in Confirmation Hearing
- March 7,2019
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- SUSTG Team
President Trump’s choice for the next U.S. Ambassador to Saudi Arabia faced tough questions from U.S. senators but defended the U.S.-Saudi relationship on Wednesday and said the United States needed “a strong and mature partnership with Saudi Arabia.” Retired General John Abizaid’s confirmation hearing in front of the Senate Foreign Relations Committee was the first of this session […]
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Positives Seen in Latest Saudi Government Labor Market Data as Vision 2030 Reforms Take Hold
- March 1,2019
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- SUSTG Team
Saudi Arabia’s workforce saw an increase in female participation and a slight decline in unemployment, according latest data on the Saudi labor revealed in a Jadwa Investment report. The General Authority for Statistics (GaStat) labor market release for Q3 2018 shows that unemployment declined slightly to 12.8 percent, from 12.9 percent in the previous two […]
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Analysis: Vision 2030 is Well Underway. Here’s What’s Needed to Make it a Success.
- February 25,2019
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- Hussain Abusaaq
In 2016, Saudi Arabia’s Crown Prince Mohammed bin Salman announced his “Vision 2030″—the most comprehensive transformation plan in the history of the country, which includes wide-ranging social and economic reforms. Vision 2030 was designed as a 14-year project; however, in its first three years, we have already seen tangible advances, such as fiscal consolidation efforts, […]
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Eid al-FitrEid moon sighting committees in UAE, Saudi meet today
Sultan bin Saeed Al Badi, Minister of Justice, has issued the decision to set up a moon-sighting committee chaired by him to confirm the start of the month of Shawwal, and marking the end of the holy month of Ramadan.
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Eid al-FitrEid moon sighting committees in UAE, Saudi meet tomorrow
Sultan bin Saeed Al Badi, Minister of Justice, has issued the decision to set up a moon-sighting committee chaired by him to confirm the start of the month of Shawwal, and marking the end of the holy month of Ramadan.
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UAEUAE executes woman convicted in mall killing
The United Arab Emirates has executed the woman convicted of killing an American teacher at an upscale shopping mall in Abu Dhabi last year, state media reported Monday.
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Saudi TourismSaudi team visits UAE to polish skills in tourism
The official said that the learning experiences for the delegation include exploring best practices and activating the joint plans between the partners in the tourism sector, such as municipalities, agriculture department, water and roads departments in order to establish, rehabilitate, develop, operate and manage tourism projects.
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Saudi - UAEUAE’s unity with Saudi Arabia crucial as Kingdom embarks on emphatic agenda
Sheikh Tahnoon is one of the creative forces behind the UAE’s national security and economic strategy. Within the Al Nahyan elite, he is responsible for a broad range of initiatives, so it was no surprise that he met with Saudi’s deputy crown prince, as Abu Dhabi seeks to help the Kingdom in various arenas, including geopolitical and economic.
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Saudi EconomyUAE and Saudi Arabia continues to grow despite lower oil prices
In Saudi Arabia too, output and new orders expanded but the rate of growth and pace of job creation eased somewhat during the month. The Kingdom’s headline PMI last month (57) was at its lowest level since May 2014. “Whilst the most recent data in the PMI series still depicts a growing non-oil private sector economy, our estimate of growth in Saudi Arabia is more conservative,” said Wetterwald.
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InsuranceInsurers in Saudi Arabia, UAE see need to upgrade risk management
Forty-one percent of insurance companies in Saudi Arabia and the UAE believe there is a need to improve their overall risk management framework, the Mena Insurance Enterprise Risk Management (ERM) survey conducted by EY, a global leader in assurance, tax, transaction and advisory services and Munich Re, a Germany-based risk solutions expert, revealed Tuesday.
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MERSMERS case confirmed in UAE, death in Saudi Arabia
United Arab Emirates (UAE) officials have confirmed a new MERS-CoV case, the second in under a week, according to a World Health Organization (WHO) statement today.
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Saudi Defense SpendingSaudi, Qatar and UAE defence budgets not shrinking despite oil price drop
The country’s defence budget has been expanding at a rate around 14 percent a year over the last decade and accelerated to a rate of 19 percent a year since 2011. “We certainly expect a significant slowdown in the short term but longer term prospects remain strong,” Caffrey said.
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Gulf IPOsIPO activity expected to pick up in the UAE and Saudi Arabia after slow start
Only one IPO took place in the Arabian Gulf in the first quarter owing to weak sentiment from lower oil prices. Brent, which fell to a low of US$45.19 in January, has since rebounded to about $65 per barrel, but is still 40 per cent down from $115 per barrel price reached in June last year.
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