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Will Oil Reach $100?
- October 19,2021
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- SUSTG Team
In June, Bank of America forecasted that oil may reach $100 by sometime in 2022 on surging demand and a rebounding global economy. At the time, the Charlotte, NC-based bank was the most bullish of the major forecasters for a return to triple digits by 2022.
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Saudi FM Prince Faisal bin Farhan, Ambassador Reema bint Bandar Meet with Secretary of State Blinken in Washington
- October 15,2021
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- SUSTG Team
Saudi Foreign Minister Prince Faisal bin Farhan Al Saud and Saudi Ambassador to the United States Princess Reema Bint Bandar Al-Saud met with U.S. Secretary of State Antony Blinken in Washington on Thursday, and “exchanged views on Iran’s nuclear program and international talks on the matter,” according to a statement from Saudi Arabia’s foreign ministry […]
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Saudi Arabia’s Nayifat Finance Company Latest to Announce IPO Plans on Surging Tadawul
- October 13,2021
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- SUSTG Team
Saudi Arabia’s Nayifat Finance Company said on Tuesday it plans an initial public offering (IPO) on the Riyadh stock exchange with a free float of 35% of its shares, according to a Reuters report. Nayifat, a consumer-focused Islamic finance firm, said in a statement that it plans a sale of 35 million shares to institutional […]
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Saudi Arabia Adjusts Fiscal Outlook for 2022, Jadwa Investment Sees ‘Conservative’ Approach by Saudi Ministry of Finance
- October 4,2021
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- SUSTG Team
Saudi authorities released a preliminary budget statement for the 2022 fiscal year on 30th September 2021, and some fiscal and economic indicators were revised for the medium term. According to a report and analysis by Jadwa Investment, the main adjustment to Saudi Arabia’s fiscal outlook “relates to government revenue, with the upward revision to revenue from 2022 […]
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Saudi Arabia’s Tadawul Likely to End 2021 With 30 New Listings This Year – CMA Head
- September 27,2021
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- SUSTG Team
Saudi Arabia’s stock exchange will likely end the year with more than 30 new listings as the Kingdom’s IPO bonanza in 2021 continues, according to comments from the Kingdom’s head of its Capital Markets Authority Mohammed El-Kuwaiz. El-Kuwaiz made the comments on Monday at a conference in Riyadh, according to Reuters.
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U.S. State Department Approves Potential $500 Million Saudi Maintenance Deal
- September 17,2021
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- SUSTG Team
The U.S. State Department has approved a potential agreement covering up to $500 million in military support services for Saudi Arabia, the first since President Biden took office on January 20. The agreement has been sent to Congress for review, the Pentagon said on Thursday.
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‘Massive’ Coral Colony Discovered on Saudi Arabia’s Al-Waqadi Island is First in Region
- September 7,2021
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- SUSTG Team
A team of marine scientists and environment experts working for the Red Sea Development Company found a massive and unique coral reef south of Al-Waqadi Island off of Saudi Arabia’s coastline, Arab News and the Saudi Press Agency report.
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Jadwa Chartbook for September 2021: PMI Indicates Continued Expansion for Saudi Economy
- September 2,2021
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- SUSTG Team
Jadwa Investment’s recently-released Chartbook for the month of September shows a Saudi economy awaking from the pandemic year with solid figures in non-oil PMI, consumer spending, and POS transactions.
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Saudi Economy: Jadwa Investment Revises 2021 GDP Forecast Upward as Activity Rises
- August 26,2021
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- SUSTG Team
With both oil and non-oil economic activity in Saudi Arabia growing as the Kingdom’s economy bounces back from the pandemic, Riyadh-based Jadwa Investment said in a research note that it will upgrade Saudi Arabia’s 2021 forecasted GDP.
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Kingdom’s Sights Remain on Renewables as Energy Ministry Allocates Land Plots for Solar
- August 20,2021
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- SUSTG Team
Saudi Arabia’s Ministry of Energy is building two renewable energy plants on land plots with a total area of 12 million square meters (4.6 square miles) to generate 600mw of energy, according to Zawya via the Saudi Press Agency. The two announced plans fit into the Kingdom’s ongoing solar and renewable power ambitions. Saudi Arabia […]
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MUST-READS
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Success of Joint Emirati-Saudi Mediation on Exchange of Prisoners between the United States of America and the Russian Federation
In a joint statement issued on December 8, 2022, the Ministry of Foreign Affairs and International Cooperation in the United Arab Emirates and the Ministry of Foreign Affairs in the Kingdom of Saudi Arabia announced the successful conclusion of the mediation efforts led by His Highness Sheikh Mohammed bin Zayed bin Sultan Al Nahyan, President of the United Arab Emirates, and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia that resulted in the release and exchange of two prisoners between the United States of America and the Russian Federation.
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Al-Jadaan: No change in VAT, expat levy
Saudi Arabia’s Minister of Finance Mohammed Al-Jadaan has said that there is no change in the value-added tax (VAT) or the levy for expatriate workers at present. In an interview with Al-Arabiya Television, Al-Jadaan stated that there is a decline in the impact of oil price volatility on the state budget and that the distribution of the 2022 budget surplus will take place only after the end of the fiscal year. “No portion of this year’s surplus will be used to repay public debt. The Public Investment Fund has sufficient liquidity and assets while SAMA’s reserves increased by about SR50 billion in 2022,” he said.
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Al-Jadaan: No change in VAT, expat levy
Saudi Arabia’s Minister of Finance Mohammed Al-Jadaan has said that there is no change in the value-added tax (VAT) or the levy for expatriate workers at present. In an interview with Al-Arabiya Television, Al-Jadaan stated that there is a decline in the impact of oil price volatility on the state budget and that the distribution of the 2022 budget surplus will take place only after the end of the fiscal year. “No portion of this year’s surplus will be used to repay public debt. The Public Investment Fund has sufficient liquidity and assets while SAMA’s reserves increased by about SR50 billion in 2022,” he said.
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Opinion: Climate Change Will Destroy Arabs and Israelis Before They Destroy Each Other
To be sure, the previous Israeli government was dedicated to resistance thinking where needed — deterring Iranian and Palestinian attacks on Israelis. But it was also engaged in some very creative resilience thinking, based on this logic: Climate change and drought are going to kill us all long before we kill each other, unless we produce more sustainable sources of water. That has to start with nursing back to life the Jordan River that has nourished this region for millenniums.
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Saudi Exchange launches market-making framework to boost liquidity
Saudi Arabia's stock exchange said on Sunday it was launching a market-making framework for its stock and derivatives markets to help ensure liquidity and raise price-determination efficiency. Entities must be exchange members, derivatives exchange members or their clients to be market makers. "Market Makers have to ensure the availability of liquidity for a listed security by providing continuous quotes throughout market open session," the Saudi Exchange, also known as Tadawul, said.
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10 Dubai photos show incredible changes over the years
When Dubai celebrated the UAE’s 51st National Day on December 2 it was as a global city with hundreds of skyscrapers, world-class airports and modern attractions that are the envy of the world. But it wasn’t always that way. Just a few decades ago, construction projects were less ambitious, the city was much smaller and the vision was still taking shape. Website Dubai As It Used To Be is a treasure trove of memories and photographs of the emirate in the mid to late 20th century.
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COP27: The good and bad news after the latest UN climate change talks
The latest round of United Nations climate talks closed in the early morning hours on Sunday, November 20 in Sharm el-Sheikh, Egypt, overshooting their Friday deadline but finally reaching an agreement on the thorniest outstanding issue: paying for climate change damages.
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COP27: The good and bad news after the latest UN climate change talks
The latest round of United Nations climate talks closed in the early morning hours on Sunday, November 20 in Sharm el-Sheikh, Egypt, overshooting their Friday deadline but finally reaching an agreement on the thorniest outstanding issue: paying for climate change damages.
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Saudi Arabia bolsters its green initiatives amid climate change concerns
The Kingdom plans to apply a circular carbon economy model, further invest in green transitions, enhance cooperation and knowledge transfer efforts and activate partnerships between the public and private sectors. As part of the Saudi Green Initiative, the first package of ongoing initiatives includes investments in the green economy worth more than SR700 billion ($186 billion).
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Crypto exchange Binance helped Iranian firms trade $8 billion despite sanctions
The new findings come as the U.S. Justice Department is pursuing an investigation into possible violations of money-laundering rules by Binance, which dominates the $1 trillion crypto industry, with over 120 million users. The transactions put the company at risk of falling afoul of U.S. prohibitions on doing business with Iran, lawyers and trade-sanctions experts said.
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