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Saudi Arabia’s SALIC invests in crop analytics firm Hummingbird Technologies
- May 24,2019
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- SUSTG Team
The Saudi Agricultural and Livestock Investment Company (SALIC) announced it was leading a £7m ($8.8m) funding round of investments into artificial intelligence startup Hummingbird Technologies, according to the company. Hummingbird, which was set up in 2016, uses drone and artificial intelligence to provide advanced crop analytics to farmers. Hummingbird, using imagery and data analytics from satellite, drone, plane […]
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Reports: Saudi Arabia Places Huge Bet on U.S. Natural Gas
- May 23,2019
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- SUSTG Team
Saudi Aramco announced a preliminary agreement on Wednesday to buy 5 million tons of liquefied natural gas per year in a deal with U.S.-based Sempra LNG, according to reports. The move is a “new strategy” for Aramco and highlights “the growing importance of the United States as an energy exporter,” the New York Times reports. The deal, if completed, […]
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Saudi cabinet affirms desire to avoid war and have stable oil markets in face of heightened Iran tensions
- May 22,2019
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- SUSTG Team
Saudi Arabia’s cabinet took the step of affirming the Kingdom’s desire to avoid regional conflict and ensure stable oil markets as tensions between Iran and the United States simmer, according to the state-run Saudi Press Agency and Reuters. The kingdom “will do everything in its power to prevent any war and its hand is always extended […]
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Arabian Centres IPO Postponed Two Days, But will Still Make History
- May 21,2019
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- SUSTG Team
Saudi Arabia’s largest share offering in four years for Arabian Centres shopping malls has been postponed for two days amid rising geopolitical tensions and a looming trade war between the U.S. and China, but when trading begins, it will still be a historic moment for Saudi Arabia’s markets. In addition to being the biggest IPO in four years, the […]
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Tensions Simmer in the Gulf as Kingdom Says it Wants to Avoid War but ‘Will Respond Firmly and Decisively to Any Threat’
- May 20,2019
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- SUSTG Team
Tensions simmered with Iran over the weekend as Saudi Arabia, the United States and allies made it clear war should be avoided at all costs but that they would respond to security threats and defend their interests if necessary. Following last week’s two attacks on key Saudi energy targets, which the Kingdom blames on Iran and […]
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Seven Saudi PV solar power projects worth $1.51b launched at recent industry exhibition
- May 17,2019
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- SUSTG Team
Seven PV solar power projects with a capacity of 1.52 GW and worth $1.51bn (SAR5.6bn) were launched on the sidelines of the recently concluded Saudi Elenex exhibition, according to a report in ConstructionWeekOnline. The projects were unveiled by Saudi Arabia’s Ministry of Energy, Industry, and Mineral Resources. The announcements are part of the Kingdom’s larger effort […]
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Vision 2030 economic reforms ‘have started to yield positive results’ in Saudi Arabia, IMF says
- May 16,2019
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- SUSTG Team
The International Monetary Fund (IMF) said that Saudi Arabia’s Vision 2030 economic and social reform plan was starting to pay off for the Kingdom, according to a report issued by the fund after a mission visit. “Economic reforms have started to yield positive results. Non-oil growth has picked-up, female labor force participation and employment have […]
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Fragile Ceasefire in Key Yemen Port Broken with Fresh Fighting after Cross-Border Drone Attack on Saudi Oil Pipelines
- May 15,2019
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- SUSTG Team
Fresh fighting broke out in a key port in Yemen yesterday, breaking a fragile cease-fire and threatening to complicate a troop withdrawal agreement intended to pave the way for wider peace talks, according to reports. Hodeidah port on the Western coast of Yemen “is a lifeline for millions of Yemenis threatened by starvation because of the war […]
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Saudi Arabia’s Sipchem, Sahara Eye U.S. and Asia Deals after Merger – Report
- May 14,2019
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- SUSTG Team
Saudi International Petrochemical Co (Sipchem) and Sahara Petrochemical “plan to target acquisitions and joint ventures in the United States and Asia when their merger is completed in order to expand market reach,” Reuters reports, citing top executives. Sipchem signed a non-binding agreement to buy Sahara Petrochemicals Company in a deal valued at 8.25 billion riyals ($2.2 […]
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Oil Soars as Two Saudi Oil Tankers Among Four Attacked off UAE Coast
- May 13,2019
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- SUSTG Team
Saudi Arabia said on Monday that two of its oil tankers were among those attacked off the coast of the United Arab Emirates, Reuters reports, with a total of four vessels being impacted by an attack. The UAE said on Sunday that four commercial vessels were “sabotaged” just outside the Strait of Hormuz. It did […]
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MUST-READS
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Red Sea Film Foundation Chief Jomana Al-Rashid on Fueling Saudi Arabia’s Cinematic Ambitions
Variety spoke to Jomana Al-Rashid, who chairs the Red Sea Film Festival International Film Foundation, about nurturing Saudi’s rapidly evolving film scene. "For us, it’s about forms of expression and good storytelling, whether it’s indie films or the more commercial films. If you have a good story then that’s something that we are going to support."
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Saudi Arabia strengthens cooperation with Japanese gaming and entertainment companies
The economic newspaper Nikkei Asia reported that the Kingdom’s Public Investment Fund plans to transfer all of its gaming-related shares to its subsidiary Savvy Games Group. The move underscores Saudi Arabia’s commitment to nurturing and developing the gaming industry in the region. By partnering with Japanese companies known for their expertise and innovation in the gaming sector, Saudi Arabia aims to build a strong ecosystem that fosters creativity and technological advancement.
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Stars gear up for Saudi Arabia Masters – all you need to know
The inaugural event which has been given the unofficial title of being the sport’s ‘fourth major’ by organisers, is the biggest ever staged outside the UK in the sport’s history, with a £2.3m prize fund and £500,000 winner’s cheque available - equal to the amount on offer at the Crucible in Sheffield.
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NEO, a new mobile banking brand, is being launched in Saudi Arabia by Saudi National Bank (SNB).
Described as a “lifestyle digital banking and financial ecosystem”, the banking app comes with a multi-currency debit card (supporting up to 20 different currencies with fixed currency rates); a rewards programme, including cashback and discounts; gift cards; and additional services such as cinema, restaurant and hotel bookings.
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TNS striker Young makes Saudi Arabia move
The New Saints striker Brad Young, Welsh football’s leading goalscorer last season, has signed for Saudi Pro League club Al-Orobah for a £190,000 fee. Young, 21, was the Cymru Premier's golden boot winner for 2023-24 after his 22 goals helped TNS to the Welsh double.
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ACWA Power locks in funds for 5.5 GW of solar in Saudi Arabia
ACWA Power Co (TADAWUL:2082) has secured SAR 9.7 billion (USD 2.6bn/EUR 2.33bn) in financing from a consortium of local and international banks for the construction of three large-scale solar power plants in Saudi Arabia with a combined capacity of 5.5 GW.
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Saudi Arabia launches Family Guidance Strategy
The Family Guidance Strategy includes more than 12 initiatives that cover all family and societal requirements. It focuses on empowering and improving the performance of those working in the field of family guidance, in addition to qualifying them and developing their capabilities and skills. It enhances society’s understanding of the role of family guidance and its positive impact in improving family relations, resolving conflicts and supporting stability, through organizing and implementing several qualitative programs and initiatives for society and the family.
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Saudi Arabia Expected to Cut Its Oil Prices to Asia for October
Saudi Aramco, the world’s top crude oil exporter, is expected to cut the official selling price (OSP) of all its crude grades for Asia in October, according to the survey of five refining sources. Three of these Reuters sources expect the flagship Saudi crude grade, Arab Light, to be priced $0.50 to $0.70 per barrel lower than the September prices. A cut of $0.70 would make Arab Light cost Asian refiners $2.00 per barrel above the Oman/Dubai average.
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Saudi Arabia’s fintech sector rakes in $1.84 billion in VC funding since 2018
According to the latest official report from the General Authority for Small and Medium Enterprises (Monsha’at), Saudi Arabia’s financial technology startups have secured over $1.84 billion in venture capital investments since 2018. This significant achievement is largely attributed to the Fintech Saudi initiative, which has been a key driver of growth in the sector.
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Ronaldo raves about life in Saudi Arabia and attractions like Red Sea, AlUla
Cristiano Ronaldo said adapting to Saudi Arabia was easy for him and his family as the football star gushed about his life in the Kingdom and its many attractions such as the Red Sea and the ancient Arabic oasis, AlUla. “To be honest, I am really happy to be there [Saudi Arabia],” Ronaldo, who plays for the Saudi football club, Al Nassr, said in an interview with former Portuguese footballer, Rio Ferdinand.
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