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PIF-backed Uber Technologies Buys Regional Rival Careem for $3.1 Billion
- March 26,2019
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- SUSTG Team
It’s the biggest tech deal the Middle East region has ever seen. Uber Technologies, Inc. is buying regional ride-sharing rival Careem for $3.1 billion, $1.7 billion in convertible notes and $1.4 billion in cash. Dubai-based Careem successfully rivaled Uber in Saudi Arabia and other parts of the Middle East region, amassing 30 million users across 90 […]
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Oil Notches Third Straight Week of Gains, but Global Economy Fears Still Weigh on Prices
- March 22,2019
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- SUSTG Team
Concerns that a looming economic slowdown might soon impact fuel consumption around the world are weighing down oil prices after Saudi Arabia and the OPEC+ group of oil producing nations have successfully reversed a downward trend for oil since the start of 2019. Brent hit a four-month high of $68.69 per barrel on Thursday, up from $51 […]
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Saudi Tourism Officials Eye $20b Investment for Al-Ula, with Roadshow Planned for This Year – Report
- March 21,2019
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- SUSTG Team
A recent report in Reuters revealed Saudi Arabia’s big ambitions for Al-Ula, in the northwestern corner of the kingdom that was a key site for an ancient civilization and is near to the future planned city NEOM. Saudi Arabia is targeting up to $20 billion of investments through 2035 for a planned landmark tourism destination and will hold a global investor […]
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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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King Salman Announces $23 Billion for Four Entertainment Projects Including the ‘World’s Biggest Park’ in Riyadh
- March 19,2019
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- SUSTG Team
Saudi Arabia is planning to build the “world’s biggest park” as part of a $22.9bn project that aims to create large open green areas in Riyadh while creating thousands of new jobs, according to the Saudi Press Agency and other news outlets. The project consists of four entertainment projects in Riyadh, which are currently in the design phase, according […]
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Inflows Surge as Tadawul Upgrades to Inclusion in FTSE Russell and S&P Dow Jones Emerging Market Indices
- March 18,2019
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- SUSTG Team
Saudi Arabia’s stock exchange, the Tadawul, began the first phase of inclusion into the FTSE Russell and S&P Dow Jones Indices (S&P DJI), which is expected to lead to billions in inflows into the country and represent a milestone for Saudi authorities as the country continues to open up to investment. Inclusion of Saudi Arabia into the FTSE Russell […]
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Ambitious Goals for Saudi Ports in Vision 2030 Drive
- March 15,2019
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- SUSTG Team
The Saudi Ports Authority says it aims to reduce container time at its ports to three days by 2020 while simultaneously pushing for more than double handling by 2030, according to the Saudi Press Agency and other reports. The goals fit into the kingdom’s Vision 2030 economic and social reform drive which prioritizes the generation of efficiencies […]
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Senate Passes Joint Resolution to End U.S. Military Support for Saudi-Led Coalition in Yemen
- March 14,2019
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- SUSTG Team
The U.S. Senate passed a resolution Wednesday to end American support for the Saudi-led, U.N.-backed coalition in Yemen, issuing a challenge to President Donald Trump to use his first veto of his Presidency. The bill, entitled “A joint resolution to direct the removal of United States Armed Forces from hostilities in the Republic of Yemen that have not […]
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Saudi Top Buyer of Military Arms as Flow Increases to Middle East
- March 13,2019
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- SUSTG Team
Saudi Arabia became the world’s largest arms importer between 2014–18, with an increase of 192 per cent compared with 2009–13, according to a new annual report published by the Stockholm International Peace Research Institute (SIPRI). The report also noted that U.S. and other Western weapons sales “are in high demand” in the Middle East, edging out Russia and […]
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Large Quantities of Natural Gas Discovered in Red Sea, Al-Falih Says
- March 8,2019
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- SUSTG Team
Large quantities of gas have been discovered in the Red Sea, the official Saudi Press Agency said, citing comments made by Minister of Energy Khalid Al-Falih. Al-Falih said that Saudi Aramco will intensify exploration work over the next two years after completion of a feasibility study. Falih also said Saudi Aramco was studying possible Liquified Natural Gas (LNG) project […]
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MUST-READS
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Visualizing the $94 Trillion World Economy in One Chart
Just four countries—the U.S., China, Japan, and Germany—make up over half of the world’s economic output by gross domestic product (GDP) in nominal terms. In fact, the GDP of the U.S. alone is greater than the combined GDP of 170 countries.
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U.S. eyes 100-strong Mideast sea drone fleet with security partners
The United States Navy and security partners will patrol Middle East waters with 100 unmanned vessels next year to improve deterrence against attacks, like those presented by Iran, the U.S. Fifth Fleet commander said on Monday. The region is vital for global trade, especially oil supplies that flow out of the Gulf via the Strait of Hormuz.
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Saudi Arabia Princess on NFTs: ‘They Are the Next Medium of Artistic Expression’
Non-fungible tokens (NFTs) are a new medium of artistic expression that gives artists the freedom and the ability to reach a diverse audience, Saudi Princess Reem Al Faisal has said.
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Saudi Minister of Finance Participates in 1st G20 Finance Ministers meeting
Saudi Arabia's Minister of Finance Mohammed Al-Jadaan and Governor of the Saudi Central Bank (SAMA) Dr. Fahad Almubarak participated virtually in the 1st G20 Finance Ministers and Central Bank Governors' (FMCBG) Meeting under the Indonesian Presidency. The meeting was held on 17-18 February, 2022, with the participation of G20 Finance Ministers and Central Bank Governors, a number of delegates from invited countries and heads of international and regional organizations.
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Several countries participate in ‘Spears of Victory 2022’ exercise in eastern Saudi Arabia
The “Spears of Victory 2022” joint exercise continued at the Air War Center in Saudi Arabia’s Eastern Sector, with the participation of a number of countries, the Kingdom defense ministry said on Thursday. The exercise was held in the presence of the commanders of the Royal Saudi Air Defense Forces, Royal Saudi Air Force, US Air Forces Central, and the Royal Bahraini Air Force, with wide participation from all branches of the Saudi armed forces, the Ministry of National Guard, and the Presidency of State Security.
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One Plus Four: Charting NATO’s Future in an Age of Disruption
The Age of Disruption is global in nature and broad in scope. The Alliance faces strategic competition with a revisionist Russia and a militarily powerful and technologically advanced China, each of which seeks to disrupt the international order.
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Erdogan Visit Underscores UAE-Turkey Rapprochement is at the Heart of Regional De-escalation
Turkish President Recep Tayyip Erdogan arrived in the United Arab Emirates capital Abu Dhabi February 14 for a state visit that would have been hard to imagine for most of the past decade. Turkey and the UAE were at odds in a range of regional conflicts, notably in Libya, and in a protracted ideational and ideological struggle, along with Qatar, over the political legitimacy of Islamism and the role and future of the Muslim Brotherhood in the Arab world.
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Smart apps: Saudi Arabia outshines top countries in pandemic management
I recently returned from New York City, arguably one of the most “time is money” places in the US. While roaming the streets of Manhattan, what struck me was that everyone took out flimsy pieces of paper to show proof of vaccination, a rule imposed for indoor dining at restaurants. While everyone scrambled to dig into their bags to take out that piece of paper, I quickly took out my phone and showed them my Tawakkalna app, where the dates of my vaccination were clearly visible on the screen. Every barista I talked to told me how impressed they were with the “Saudi app,” which they said was among one of the best they’d seen.
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Smart apps: Saudi Arabia outshines top countries in pandemic management
I recently returned from New York City, arguably one of the most “time is money” places in the US. While roaming the streets of Manhattan, what struck me was that everyone took out flimsy pieces of paper to show proof of vaccination, a rule imposed for indoor dining at restaurants. While everyone scrambled to dig into their bags to take out that piece of paper, I quickly took out my phone and showed them my Tawakkalna app, where the dates of my vaccination were clearly visible on the screen. Every barista I talked to told me how impressed they were with the “Saudi app,” which they said was among one of the best they’d seen.
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Visualizing the $94 Trillion World Economy in One Chart
Just four countries—the U.S., China, Japan, and Germany—make up over half of the world’s economic output by gross domestic product (GDP) in nominal terms. In fact, the GDP of the U.S. alone is greater than the combined GDP of 170 countries.
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