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Recent stories from sustg
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Quarterly Oil Market Update from Jadwa Investment finds Cuts Contributing to Lower Balances
- April 25,2017
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- SUSTG Team
If Saudi Arabia as the de-facto head of OPEC used to set the ceiling for the price of oil, now it looks like that role has been taken over – by U.S. shale producers. However, Saudi Arabia can still set the floor. According to recently released data by Riyadh-based Jadwa Investment, Both OPEC and non-OPEC […]
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7 Major Changes to the Kingdom of Saudi Arabia that Happened This Weekend and What They Mean
- April 24,2017
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- Lucien Zeigler
Over the weekend, Saudi Arabia’s King Salman announced a series of major changes to key leadership positions, a new “national security center” for Saudi Arabia that is affiliated with the Royal Court, and more. Here’s what is different now for Saudi Arabia and what those changes mean for the Kingdom, U.S.-Saudi relations and Saudi Arabia’s […]
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Saudia Chief Al-Shibl: Saudi Arabian Airlines is Seeking to Become the Largest Carrier in the Middle East
- April 21,2017
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- SUSTG Team
Saudi Arabian Airlines is seeking to once again become the largest carrier in the Middle East and efforts are underway toward achieving this goal, Dr. Ghassan Al-Shibl, chairman of the board of Saudia told Asharq Alawsat around the U.S.-Saudi Arabia CEO Summit. Al-Shibl said that Saudia has reached a deal that will see the state-owned airline purchase 30 […]
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Secretary of State Rex Tillerson, Saudi Minister of Commerce Dr. Majed Al-Qassabi Deliver Keynote Remarks at U.S.-Saudi Arabia CEO Summit
- April 20,2017
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- SUSTG Team
Secretary of State Rex Tillerson gave his first on-the-record public speech as Secretary yesterday to the U.S.-Saudi Arabia CEO Summit, hosted by the U.S. Chamber of Commerce, the Saudi Committee for International Trade and the Council of Saudi Chambers of Commerce. The Secretary said that the U.S.-Saudi Relationship should be “taken to new heights” and […]
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FULL TEXT: Secretary of State Rex Tillerson’s Remarks at the U.S.-Saudi Arabia CEO Summit
- April 20,2017
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- SUSTG Team
Full text of the Secretary of State’s remarks at the U.S.-Saudi CEO Summit, hosted by the U.S. Chamber of Commerce, the Saudi Committee for International Trade and the Council of Saudi Chambers of Commerce. *** SECRETARY TILLERSON: (Applause.) Well, thanks so much, Tom, and good afternoon to all of you. And Tom and I are old […]
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U.S. Secretary of Defense Jim Mattis Arrives in Saudi Arabia; First Top Trump Administration Official to Visit Kingdom
- April 18,2017
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- SUSTG Team
U.S defense Jim Mattis arrived in Saudi Arabia today, his first stop on a tour through the Middle East that will “focus on the fight against Islamic State and articulating President Donald Trump’s policy toward Syria,” Reuters reports. وزير الدفاع الأمريكي #جيم_ماتيس يصل #الرياض في أول زيارة لل #السعودية منذ توليه مهامه pic.twitter.com/Bp8RiYRlQp — U.S. […]
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Saudi Arabia Looks to Overhaul Billions in Government Projects, Report Says
- April 17,2017
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- SUSTG Team
Saudi Arabia’s government is ordering its ministries and agencies to review billions of dollars’ worth of unfinished infrastructure and economic development projects “with a view to shelving or restructuring them,” a report in Reuters said, citing government sources. According to the report, Riyadh’s Bureau of Capital and Operational Spending Rationalization, set up last year to make […]
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In First, Full Japanese Orchestra Performs in Riyadh
- April 14,2017
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- SUSTG Team
For the first time, a Japanese orchestra has played a live performance in Saudi Arabia’s capital, the latest step forward for Saudi culture and prospects for greater entertainment options for Saudi citizens. Minister of Culture and Information Adel Al-Toraifi opened the first Japanese full orchestra concert in Saudi Arabia on Thursday night at King Fahad […]
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Tadawul Announces Update on Progress To Reforms
- April 13,2017
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- SUSTG Team
Saudi Arabia’s stock exchange, the Tadawul, today provided in a press release “an update of its progress across a range of far-reaching capital market reforms to enhance efficiency, corporate governance, and transparency.” The reforms are part of the Exchange’s efforts to further align Saudi capital market with international standards and make it more attractive to […]
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Event Announcement: Vision 2030: One Year into Saudi Arabia’s Economic Reforms – A Discussion with Saudi Minister of Commerce Dr. Majed Al-Qassabi
- April 11,2017
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- SUSTG Team
Saudi Arabia’s ambitious Vision 2030 plan to reform the Kingdom’s economy was introduced almost one-year ago on April 26th, 2016. While it may take years or even decades to accurately measure the program’s successes and shortcomings, it is not too early to assess early progress with the critical initiative. Vision 2030: One Year into Saudi Arabia’s Economic […]
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MUST-READS
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Saudi Arabia announces 5 new initiatives worth $60 million at SGI Forum
Saudi Arabia unveiled five new initiatives, valued at $60 million (SR 225 million), reinforcing the Kingdom's leading role on climate and environment efforts. The initiatives were announced on the fourth edition of the Saudi Green Initiative (SGI) Forum, which began on Tuesday, coinciding with the 16th session of the Conference of the Parties to the United Nations Convention to Combat Desertification (COP16) in Riyadh. Five new initiatives, led by Ma’aden, Morooj Foundation in partnership with the private sector, and the Tanmiah Food Company, represent a $60 million investment to accelerate afforestation efforts. These initiatives aim to plant millions of trees and mangroves, scatter 300 million seeds, rehabilitate degraded land, reduce air pollution, and enhance biodiversity across the Kingdom.
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How French and Saudi architects are redesigning the cities of tomorrow
Saudi Arabia today is synonymous with megaprojects. Since the launch of the Vision 2030 reform agenda, the Kingdom has rolled out a range of major infrastructure projects, spanning everything from education and healthcare, to tourism and public transport. Last week, a new milestone was reached when King Salman inaugurated the Riyadh Metro — just one of the significant projects launched under the Vision 2030 framework. With demand for public transport on the rise, the new metro, which features six lines and 85 stations spread along 176 kms of track, will boost connectivity. Future extensions are already in the works, as the city builds new economic, tech, and cultural infrastructure.
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Saudi Arabia and World Bank Group to Establish a Global Knowledge Hub in Riyadh
The World Bank Group–Saudi Arabia Knowledge Hub (K-Hub) will serve as a platform for knowledge generation and exchange to drive greater development impact for countries. The K-Hub will facilitate inbound and outbound knowledge transfer, collaboration on innovative research, capacity building programs, and evidence-based policy solutions. “Diversifying economies and driving policies that lead to a more competitive and efficient business environment are key to success,” said Ajay Banga, President of the World Bank Group. “The new Knowledge Hub being created by the World Bank Group and Saudi Arabia is a key step forward to scale up and extend the wide reach of global knowledge critical to delivering such impact.”
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KAPSARC and Climeworks to explore feasibility of Direct Air Capture solutions in Saudi Arabia
The MoU outlines a roadmap to assess the deployment of new DAC systems in the Kingdom, focusing on availability of natural resources including subsurface CO₂ storage. Additionally, the initiative examines DAC’s economic and environmental impacts while fostering local workforce development, supporting the Kingdom’s broader sustainability goals and aligning with the Circular Carbon Economy (CCE) framework. KAPSARC’s Vice President of Knowledge & Analysis, Axel Pierru, emphasized the importance of this initiative, stating, “This collaboration marks a significant step in exploring innovative carbon removal solutions tailored to Saudi Arabia’s unique context and large geological CO₂ storage capacity. Our research shows the key role that the development of DAC in the Kingdom will potentially play in achieving a net-zero energy system, both domestically and globally.”
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France’s EDF, TotalEnergies awarded Saudi solar tenders during Macron visit
TotalEnergies will build an 0.3 gigawatt (GW) solar park in Saudi Arabia, while EDF Renewables will build two solar parks totalling 1.4 GW, as part of a series of deals announced on Tuesday during a visit by French President Emmanuel Macron to Riyadh. The French companies entered into 25-year power purchase agreements with the Saudi Power Procurement Company for the projects, which were awarded on a build-own-operate model as part of the kingdom's fifth renewable tender round.
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Saudi Arabia hits 900+ sports sponsorships in quest for influence
The study mapped 910 sponsorships in different sports and 1,412 positions in 207 Saudi entities, noting that the kingdom has significantly expanded its web of sponsorships, partnerships and strategic investments in 2024. Most of the sponsorships are with Saudi’s Public Investment Fund (PIF), which inked deals with the Association of Tennis Professionals (ATP), the Women’s Tennis Association (WTA) and soccer federation Concacaf, among others, over the last 12 months. All told, PIF accounts for 346 sponsorships across sports, according to Play the Game. That amount surpasses the total number of sponsorships Play the Game’s researchers identified in its dataset from 2023.
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China’s ties with Saudi Arabia buoyed by green tech
Bilateral trade has for many years been almost totally dominated by Chinese purchases of Saudi oil. But now, Chinese exports to Saudi Arabia are tracking towards a record high, at $40.2bn in the first 10 months of the year, up from $34.9bn for the same period last year, according to Chinese government data. China has also become the kingdom’s largest source of greenfield foreign direct investment, with investments from 2021 to October this year totalling $21.6bn, about a third of which were in clean technologies such as batteries, solar and wind, according to investments tracked by fDi Markets. This compares with $12.5bn from the US, the next highest.
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Saudi PMI hits 59 in November as non-oil sector grows
Saudi Arabia’s non-oil private sector ended November with robust momentum, as business activity expanded at its fastest pace since July 2023, latest business survey showed. The Riyad Bank Saudi Arabia Purchasing Managers’ Index rose to 59.0 in November from 56.9 in October, marking the fourth consecutive monthly increase, buoyed by accelerated growth in new orders, purchasing activity, and staff recruitment. Business activity saw its sharpest rise in 16 months, with firms linking the surge to stronger demand, higher customer volumes, and successful marketing campaigns. New order inflows, including foreign sales, rebounded after a modest pullback in the previous survey period.
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Saudi Arabian golfers privileged to be ‘trailblazers’ for golf in the Kingdom
Saudi Arabia’s five leading golfers are determined to showcase their quality on home soil when the PIF Saudi International powered by SoftBank Investment Advisers begins tomorrow at Riyadh Golf Club. Othman Almulla is one of a record five Saudi Arabian professionals competing at the event, which takes place in Riyadh for the first time, and three of them were in attendance, alongside global stars such as Abraham Ancer, Tyrrell Hatton and Dustin Johnson, for a launch press conference ahead of the tournament.
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An elaborate global system exists to prevent famine. It’s failing.
The process Haan and other aid workers sketched out in about a month eventually evolved into the Integrated Food Security Phase Classification, or IPC, a global partnership that’s a linchpin in today’s vast system for monitoring and alleviating hunger. It is designed to sound the alarm about developing food crises so organizations can respond and prevent famine and mass starvation. Critically, the IPC is struggling to access the data it needs to conduct informed analyses. With most of the world’s food crises being driven by conflict, it has become increasingly difficult to gather the information the IPC requires to classify vulnerable nations on its five-stage acute food-security scale.
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