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Recent stories from sustg
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The 966, Episode #132, The Many Impacts of The Gaza War with Stefanie Ali, Senior Director, Rice, Hadley, Gates and Manuel LLC
- June 26,2024
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- SUSTG Team
The 966 welcomes Stefanie Hausheer Ali, Senior Director at international affairs consulting firm Rice, Hadley, Gates & Manuel LLC, to get her informed perspective on the impact of the Gaza war with particular reference to the damage it has done to the U.S. reputation and U.S. corporate brands.
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Wamda’s Tawaref Series Provides Blueprint for Expanding in KSA
- May 13,2024
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- SUSTG Team
Wamda has partnered up with Tawaref, a Saudi Arabia-based tech investment community that also provides startup advisory, legal consultancy and due diligence support, to publish a series of articles to help entrepreneurs navigate the Saudi market.
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ACWA Power Inks Deal for $4bn Green Hydrogen-Based Ammonia Plant in Egypt, $800m Power Purchase Agreement for South African Hybrid Renewable Project
- December 20,2023
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- SUSTG Team
Saudi renewables developer ACWA Power has signed two new large deals as it expands its renewables and green projects across the region.
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Israeli Minister Speaks Publicly for the First Time in Saudi Arabia’s Capital Riyadh – Report
- October 5,2023
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- SUSTG Team
An Israeli minister spoke publicly for the first time in Saudi Arabia’s capital Riyadh about “blossoming ties” between the two countries, the latest sign the duo are inching toward normalizing relations – and even thanked the two leaders, mentioning first the Kingdom of Saudi Arabia.
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MSCI Emerging Markets Index – Saudi Equities Five Years After Inclusion
- June 25,2024
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- SUSTG Team
Since May 2019, the MSCI Saudi Arabia and MSCI Tadawul 30 Indexes and the MSCI Saudi Arabia Investable Market Index (IMI) have outperformed the MSCI Emerging Markets IMI. Also, Saudi Arabia’s equity market has expanded to offer investors more-diversified sector exposures.
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Johnson Controls Arabia Announces Export of 300 Saudi-Made Scroll Chillers to the United States from KAEC Manufacturing Plant
- May 9,2024
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- SUSTG Team
Johnson Controls Arabia (JCA) hosted an export milestone event at its YORK Manufacturing Complex at the King Abdullah Economic City (KAEC) to mark the company’s latest export achievement of more than 300 Saudi-made YORK Scroll Chillers to the American market during this year, with a total market value of 100 million Riyals in the initial phase, the […]
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Prince Alwaleed bin Talal-Backed Flynas Taps Morgan Stanley, Goldman for IPO
- December 21,2023
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- SUSTG Team
Saudi Arabia’s Flynas, backed by billionaire Prince Alwaleed Bin Talal, has hired Goldman Sachs Group Inc., Morgan Stanley and Saudi Fransi Capital for a potential initial public offering in Riyadh, according to a report in Bloomberg.
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Saudi Arabia’s Tourism Effort Paying Off as Sector Sees 58% Growth in 2023 — Report
- October 4,2023
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- SUSTG Team
Saudi Arabia has been ranked second globally in terms of tourist arrivals during the first seven months of 2023, the Saudi Press Agency reported on Tuesday.
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Saudi-US Trade and Investment Framework Agreement (TIFA) Council Meetings Underway
- June 24,2024
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- SUSTG Team
The General Authority of Foreign Trade (GAFT) which is part of the Saudi Ministry of Commerce is leading Saudi Arabia’s delegation at the eighth meeting of the Saudi-US Trade and Investment Framework Agreement (TIFA) Council, held between June 23 and 28, 2024, in Washington, DC.
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Saudi Aramco Expects to Pay Full Dividends Despite Lower Earnings – Report
- May 8,2024
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- SUSTG Team
Saudi Arabia’s Aramco said it expects to pay full dividends to its shareholders, including the Public Investment Fund of Saudi Arabia, “despite reporting lower earnings for the first quarter on Tuesday, hit by lower oil prices and volumes sold,” Reuters reports.
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MUST-READS
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Food wastage in Saudi, UAE significantly higher than in US and Europe
From an economic sustainability standpoint, food waste can erode a major portion of national revenues for countries, creating unnecessary demand for surplus food that can then increase a dependence on imports, the report said.
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Saudi food delivery startup Jahez raises $36 million in country’s largest VC deal
The startup claims to serve 3 million users through its network of 15,000 delivery driver. The statement said that Jahez is on its way to exceeding $270 million (SAR 1 billion) in order value in 2020 sourced from over 12,000 points of sales across the Kingdom. It has processed more than 20 million orders and has partnered with brands like McDonald’s, Burger King, Pizza Hut, SACO, and Whites Pharmacies
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Rice in the Desert: Pandemic Spurs UAE to Grow More Food
Even as it experiments with crops and expands local farms, the government is strengthening its overseas supply network. The UAE already owns farms in more than 60 countries, and it may invest in others. Thanks partly to this extensive web of holdings, the country ranked 21st for food security, tied with Japan, in the 2019 Global Food Security Index compiled by The Economist Intelligence Unit.
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Saudi Arabia Ups Food Spending Home and Abroad to Secure Supply
Saudi Arabia is stepping up its investments in local agriculture and farming projects abroad at a time when the coronavirus pandemic prompts some nations to review how they feed their people. Following the Covid-19 outbreak, the kingdom introduced two initiatives worth 2.5 billion riyals ($665 million) to support farmers and facilitate food imports, said Muneer Alsahali, general manager of the Agricultural Development Fund. That takes the fund’s budget to 5.5 billion riyals this year, which is almost triple 2019’s amount and includes more money for overseas investments.
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In coronavirus-hit Middle East, a food website throws restaurants a lifeline
“They offered to build this website that would list any restaurant that had the facility to accept direct online deliveries. Within a couple of days we had over 300 restaurants, and now we’re at more than 1,000,” said Food Sheikh.
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Video: Food Security Saudi Arabia and the rest of GCC
Food Security in Saudi Arabia and the GCC virtual conference about the political, economic, social and environmental elements in light of the current cornona virus pandemic. The collective efforts of WHO, FAO, UN to mitigate am control the spread of corona virus (COVID 19)
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Saudis waste 33% of food each year; KSA loses SR40 billion annually from waste
More than 33 percent of food is wasted in Saudi Arabia, costing the Kingdom SR40 billion ($10.6 billion) annually, according to a study conducted by the Saudi Grains Organization (SAGO). The nationwide field study showed that each individual in the Kingdom wastes almost 184 kg of food each year.
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Agri-tech business lands $100m to support food security in UAE and Saudi
Abu Dhabi agri-tech start-up Pure Harvest Smart Farms secured a multi-stage investment commitment of $100 million (Dh367m) with Wafra International Investment Company to fund hiring and massive expansion of its sustainable greenhouses in the UAE and Saudi Arabia. Wafra is leading Pure Harvest’s $20.6m Series A financing round with an initial $10m, the first step in a multi-phase regional growth plan that will include increasing headcount from 19 to 90, and a new six-hectare farm in Riyadh, Saudi Arabia, the company’s first foray into the kingdom.
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Saudi Arabia Unveils High Levels of Food Self-Sufficiency
“The Kingdom has achieved high levels of sufficiency in many agricultural products. These include 60 percent of self-sufficiency in poultry, with production of one million tons annually, 60 percent in vegetables, with local production of about 180,000 tons per month, 109 percent in milk and dairy products, which is more than 7.5 million liters per day, and 55 percent in seafood products,” Aba Al-Khail said.
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Locust Swarms Compound Food Worries in East Africa
In the past month, large swarms of locusts have devastated crops across large swaths of East Africa, threatening the livelihoods and the food supply of millions who were already struggling to afford food before the locust invasions. While swarms have been spotted in 10 countries, places such as Kenya and Ethiopia -- where the majority of residents say they could not afford food at times in the past year -- have been among the hardest hit.
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