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Senior US Delegation in Riyadh for Talks Shows Commitment, Official Tells Al Arabiya
- February 14,2023
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- SUSTG Team
Senior US officials from the Biden administration are in Riyadh this week for security meetings to discuss Iran and other mutual defense concerns, with one official telling reporters that the meetings demonstrate a commitment to the region despite the narrative in the media that the U.S. is seeking to distance itself from the region.
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IMF Head Says Gulf Economies are Becoming More Resilient to Energy Prices
- February 13,2023
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- SUSTG Team
Governments of Gulf countries have made progress toward diversifying their economies away from oil by opening up to private investment and implementing taxes, according to comments from Kristalina Georgieva, the head of the International Monetary Fund.
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LEAPing forward in an increasingly tech-focused Saudi Arabia, Riyadh as a global events destination, and much more
- February 10,2023
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- SUSTG Team
The 966 Episode 75! The hosts discuss the recently-concluded LEAP conference and exhibition in Riyadh and how Saudi Arabia is increasingly becoming a leader in the space in the region. They also discuss how Riyadh is, in general, becoming a more attractive destination for global events, a concept once difficult to imagine before the Kingdom […]
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FDI Inflows into Saudi Arabia Soar in 3Q 2022; MISA Says Investment Licenses Granted Up Over 50%
- February 7,2023
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- SUSTG Team
Saudi Arabia saw more positive economic news this week, as Foreign direct investment (FDI) inflows into the Kingdom rose 10.7% in the third quarter of 2022 over the same period a year earlier. Figures from the investment ministry showed FDI inflows totaled 7.2 billion riyals ($1.9 billion) in the third quarter of 2022, up from 6.5 billion riyals […]
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Physician-scientist Dr. Doaa Alsaleh MD joins The 966, plus a new visa to visit Saudi and much more
- February 3,2023
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- SUSTG Team
In Episode 74, a conversation with Dr. Doaa Alsaleh MD, a physician-scientist at the Icahn School of Medicine at Mount Sinai in New York City on her journey, work, research, and future before returning to work in Saudi Arabia soon. Dr. Doaa was born in Saudi Arabia, got her medical degree in Bahrain, and is now […]
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Saudi Arabia’s Non-Oil Economy Grew 6.2% During the Fourth Quarter of 2022 – Latest Data
- January 31,2023
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- SUSTG Team
In the 4th quarter of 2022, Saudi Arabia’s non-oil sector grew at the fastest pace in more than a year and “helped the kingdom record the fastest overall growth among major global economies,” Bloomberg reports. The non-oil economy grew an annual 6.2% during the fourth quarter of last year, the highest level since the third […]
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Saudi Arabia’s PIF Remains 6th Largest SWF Globally, Latest Data Show
- January 30,2023
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) now has assets worth $607.42 billion and is the 6th largest sovereign wealth fund in the world, according to latest data from the Sovereign Wealth Fund Institute.
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Saudia Travelers to Get 4-Day Visa With Ticket Purchase in New Tourism Push
- January 26,2023
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- SUSTG Team
Saudi Arabia is set to relax its visa entry requirements further with a new program to boost tourism that grants a four-day visa to those who fly into the Kingdom on its national carrier, Saudia, according to reports.
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International Visitors to Saudi Arabia Increase as Kingdom Attracts Most Tourists in First 9 Months of 2022
- January 25,2023
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- SUSTG Team
Saudi Arabia registered more than 18 million international arrivals in the first nine months of 2022, higher than any other Arab nation during that timeframe, according to reports.
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Saudi Arabia Rolls Out a New Events Investment Fund (EIF) to Drive Investment in Culture, Tourism, Entertainment and Sports
- January 17,2023
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- SUSTG Team
Saudi Arabia has launched an investment fund specifically to support the culture, tourism, entertainment and sports industries, according to Reuters, citing the state news agency SPA.
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MUST-READS
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Iran-linked Chafer APT targets governments in Kuwait and Saudi Arabia
Most of the hacking activity occurs on Friday and Saturday, coinciding with the weekend in the Middle East. The campaign against a Saudi Arabian entity was characterized by the large use of social engineering attacks to trick the victim into executing a remote administration tool (RAT), The RAT employed in the attacks shares similarities with those used against Kuwait and Turkey.
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Yemen’s Saudi-backed government pleads for coronavirus aid
The World Health Organisation (WHO) says the virus is spreading undetected in the country, divided between the government in the south and the Iran-aligned Houthi group based in the north.
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Saudi Tadawul approves listing $1.54bln government debt
The Saudi Stock Exchange (Tadawul) has approved the listing of debt instruments from a class already listed, as requested by the Ministry of Finance. The value of the new debt instruments, issued by the Saudi government, amounts to a total of SAR 5.755 billion.
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IATA calls on the government of Saudi Arabia to support aviation during COVID-19
IATA estimates that revenues generated by airlines in the Saudi market will fall by $7.2 billion in 2020, 35% below 2019 levels. That puts at risk nearly 287,500 Saudi jobs and $17.9 billion of Saudi’s GDP, which is generated by aviation directly and aviation-related tourism.
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Saudi government survey measures impact of COVID-19 on business
The General Authority for Statistics (GASTAT) has launched an electronic survey to measure the impact of the COVID-19 crisis on the private sector in the Kingdom.
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Saudi government considering more measures to cut spending amid coronavirus outbreak
Cuts in expenses on items such as travel, events, tourism, entertainment, sports would lead to savings, Mohammed al-Jadaan said.
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Saudi Government Releases Plan to Reopen Economy
“We expect the crisis to continue for a period of months, perhaps to the end of this year in the health aspect,” Jadaan said, adding that the gradual reopening of the economy will remain subject to decisions of lockdown if the need arises.
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All Saudi Government measures to date in response to COVID-19
The “Supporting Finance for the Private Sector” program will support SMEs through three components, including $8 billion to support banks defer SME payments, $3.5 billion for concessional financing and $1.6 billion to support loan making to small businesses. There are also numerous tax related measures, including extending deadlines for filing tax returns and paying those taxes. Public sector workers will continue to receive salaries, and government has further announced to bear 60% of employees’ salaries paid by the private sector to Saudi nationals for a period of three months and ceiling of $2.39 billion.
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Yemen: Saudi ambassador reveals upcoming meeting between government, Houthis and Arab coalition to discuss ending war
The Saudi ambassador to Yemen, Mohammed Al-Jaber, revealed an upcoming meeting between the legitimate government, the Houthis and the Arab coalition, under the auspices of the United Nations (UN) envoy, to discuss a permanent ceasefire in Yemen, without specifying a date.
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Stay-at-home order a relief for Saudi government workers
Saudi Arabia on Sunday ordered public-sector workers, with the exception of those employed in health, security and military services, to stay at home for 16 days as part of a raft of measure to tackle the deadly coronavirus.
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