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Recent stories from sustg
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In Interview, Governor of SAGIA Ibrahim Al-Omar Says New Licenses for Investment and Business Soaring
- May 2,2018
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- SUSTG Team
The head of Saudi Arabia’s top licensing and investment body says that the Kingdom is increasing its new licenses to investors and businessmen seeking to do business in the Kingdom, according to an interview in TheBanker.com. Ibrahim Al-Omar, head of the powerful Saudi Arabian General Investment Authority (SAGIA), told journalist James King in an interview how Saudi […]
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Milestone Achieved in Launch of Saudi Arabia’s National Privatization Program and Center
- April 27,2018
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- SUSTG Team
Saudi Arabia has announced the launch of “Delivery Plan 2020,” a privatization program headed by a newly created office, Saudi Arabia’s National Centre for Privatization (NCP), in a major milestone for the Kingdom as it looks to advance its Vision 2030 economic and social reform goals. The plan sets out the country privatization agenda for […]
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CEDA Approves Privatization Program in Progress for Vision 2030 Implementation
- April 25,2018
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- SUSTG Team
Saudi Arabia’s powerful Council of Economic and Development Affairs (CEDA) approved a Privatization Program that is one of 12 key elements of the Kingdom’s Vision 2030, according to reports. Saudi Arabia aims to generate 35 billion to 40 billion riyals ($9 billion to $11 billion) in non-oil revenues from the privatization program by 2020 and create […]
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Catholic Cardinal meets Saudi king in Historic Visit to Riyadh
- April 19,2018
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- SUSTG Team
Saudi Arabia’s King Salman has met French cardinal Jean-Louis Tauran during the first visit to the Kingdom by such a senior Catholic authority, according to the SPA. The move follows other overtures by Saudi Arabia’s leadership in recent weeks to other faiths, and a visit by Lebanon’s Christian Maronite Patriarch Beshara al-Rai in November. Interfaith dialogue has been […]
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Saudi Aramco Earned $33.8 billion in the first half of 2017, Has ‘Virtually No Debts’, Data Reviewed by Bloomberg Says
- April 13,2018
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- SUSTG Team
A first glimpse at Saudi Aramco’s finances by Bloomberg News reveals the state oil giant made a whopping $33.8 billion in net income in the first half of 2017 and has very little debt, according to a series of stories published by the news site. The figures have previously only been seen by top Saudi leadership and […]
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Saudi Crown Prince Wraps Up U.S. Tour in Houston with Big Gulf Investments Eyed
- April 9,2018
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- SUSTG Team
Crown Prince Mohammed bin Salman wrapped up his unprecedented whirlwind tour of the United States with a stop in Houston to talk investments in the Gulf region. The Crown Prince visited Motiva Enterprises LLC, a wholly-owned downstream oil and gas subsidiary of Saudi Aramco, to witness the signing of MoUs worth between $8 billion to $10 billion with US […]
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Crown Prince Mohammed bin Salman Meets with U.N. Secretary General in New York
- March 28,2018
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- SUSTG Team
Crown Prince Mohammed bin Salman continued his active visit to the United States yesterday, attending a business meeting in New York with over 200 executives, and separately meeting with the Secretary General of the United Nations, Antonio Guterres. 200 top business leaders from the U.S. and Saudi Arabia – including two dozen women – assembled in […]
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Reports: Crown Prince and Delegation to Meet with Tech, Defense, Banking Giants
- March 22,2018
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- SUSTG Team
Two separate reports from Bloomberg confirm that Saudi officials are eying meetings with major banking houses and technology giants during the Crown Prince’s nearly three-week long visit to the United States. The delegation currently visiting the United States will seek to meet with executives from Amazon, Apple, Google, Pfizer and other companies as they hunt for […]
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Oil Revenues Above Saudi Budget Breakeven Price Will Go to PIF Coffers, Al Tuwaijri Says
- March 9,2018
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- SUSTG Team
Steadily climbing oil prices over the past year may help increase cash in Saudi Arabia’s massive Public Investment Fund (PIF), according to comments by Mohammed Al Tuwaijri, the kingdom’s minister of economy and planning. “Whenever oil is above our break-even point, this will all go to the PIF,” he said, as reported in the Financial Times, without […]
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Saudi Crown Prince Reassures Foreign Investors after Corruption Crackdown
- February 20,2018
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman is seeking to reassure the business community following the Kingdom’s crackdown on corruption, which netted over $100 billion for the Saudi government from alleged impropriety. The secretive nature of the arrests and concerns over political motivations have worried local and foreign business leaders. More than 300 people, among them royals, politicians and […]
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RSGT to invest in Bangladesh’s Largest Port
"RSGT knows that this terminal is an integral part of Bangladesh's future and that's why they have decided to invest here," said a senior official of the shipping ministry, adding that the company has already signed a letter of intent a few months back.
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World Bank to increase support to Middle East countries to fight coronavirus
The lender’s initial Covid-19 response in Mena countries includes new projects and operational measures in Egypt, Lebanon, Morocco, Yemen, Djibouti and West Bank and Gaza.
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Hezbollah asserts role in Lebanon’s coronavirus fight
The Lebanese paramilitary group Hezbollah is marshalling its deep resources in the fight against coronavirus, using a corps of volunteers, doctors and facilities to carve out a prominent role in the crisis-riven state’s response.
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Coronavirus: Millions will be left in poverty, World Bank warns
The financial impact of coronavirus will stop almost 24 million people from escaping poverty in East Asia and the Pacific, according to the World Bank. It says “significant economic pain seems unavoidable in all countries”.
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Gulf banks put brakes on lending as dollar liquidity crunch looms
Gulf banks are limiting their lending to minimize potential losses from the coronavirus crisis and an expected squeeze in dollar liquidity in the oil reliant region, some bankers say.
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Taliban kill dozens of Afghan forces in two attacks
The Taliban have killed about two dozen Afghan police and pro-government fighters, officials said Monday, in two attacks that come as the foes are supposed to be preparing for peace talks.
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Saudi Arabia Tells Banks to Support Businesses to Avoid Job Cuts
The Saudi Arabian Monetary Authority wants banks to immediately put in place a lending program for at least six months to “assist in maintaining employment levels,” according to a document sent by the regulator to lenders and seen by Bloomberg. Banks should also provide relief on debt repayments for any customers that have already been dismissed, SAMA, as the central bank is known, said in the circular.
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Egypt’s banks told to limit withdrawals and deposits
Egyptian banks have been instructed to apply temporary limits on daily withdrawals and deposits in a move seemingly designed to control inflation and hoarding during the coronavirus’ spread.
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Commerce Ministry confirms enough supplies, bans raising prices
The ministry teams have conducted 3,100 inspection rounds, while the call center received 3,300 claims in 24 hours, half of which were complaints related to hiking prices of vegetables, masks and sanitizers, Abdul Rahman Al Hussein, the spokesman of the ministry said.
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Coronavirus: Saudi Arabia to ban entry and exit from Riyadh, Mecca and Medina
“Residents of the thirteen provinces of the kingdom will be banned from leaving them or moving to other areas,” an official statement published by the Saudi Press Agency (SPA) said. “Entry and exit from the cities of Riyadh, Mecca and Medina will be banned in accordance with the limits defined by the competent authorities,” it added.
- Arabian Business - Saudi cracks down on Covid-19 curfew breakers with nine arrests in Riyadh
- Arab News - Saudi ministry warns against ‘even small gatherings’
- Asharq Al-Awsat - Saudi Ministers, Officials Document Their Experience in Working Remotely
- Arabian Business - In pictures: Silence across Saudi Arabia as 'dusk-to-dawn' coronavirus curfew
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