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Recent stories from sustg
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Little Upside in Latest Jadwa Saudi Chartbook
Riyadh-based Jadwa Investment’s latest monthly chartbook overviewing the Saudi economy contains mostly negative economic data on consumer spending, activity, government accounts, and inflation. Economic data for the month of December 2015 indicates a slowdown in activity, and data on consumer spending continued to point to a softening trend, while PMI fell to a record low, […]
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With affordable housing in short supply, new JV set to provide mortgage loans to low and middle-income Saudis
A new joint venture between Saudi Arabia’s Ministry of Finance (MoF) and the Islamic Corporation for the Development of the Private Sector (ICD) has received approval to provide loans to low and middle-income Saudis, in what could be a much-needed boost for access to mortgages in the Kingdom. Bidayaa Home Finance was launched to provide […]
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U.S. Chamber of Commerce and Council of Saudi Chambers Kick-off U.S.-Saudi Arabia CEO Summit
On January 24, 2016 at the Council of Saudi Chambers of Commerce building the U.S.-Saudi CEO Summit kicks off a focused, high-level private-sector initiative to assess the U.S.-Saudi commercial and business environment in order to enhance bi-lateral trade, investment and cooperation. The Saudi-US Trade Group team is in Riyadh to participate in the inaugural U.S.-Saudi […]
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FM Al-Jubeir: Most Effective Way to Solve Regional Crises ‘Through our close partnership and alliance with the United States of America’
U.S. Secretary of State John Kerry on Thursday stood by ally Saudi Arabia in its widening rift with Iran over the execution of a Shiite cleric while urging the regional rivals to pursue a diplomatic solution, the Associated Press reports. Kerry said Washington stands by its friends, “but we also want to see diplomacy work. […]
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Saudi Aramco Considers IPO, but Scope of Listing Unknown
As Saudi Arabia appears to actively consider a potential IPO for its state-owned oil company, Saudi Aramco, two conflicting reports emerged today about the potential scope of the offering. On Thursday of last week, Saudi Arabia’s deputy crown prince Mohammed bin Salman told the Economist in an interview that he was optimistic about the potential […]
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Saudi Stocks Hit 4-Year Low as Global Markets Shudder at China’s Second Halt in Trading This Week
Saudi Arabia’s stock market has continued a tumultuous start to the new year, with the Kingdom’s benchmark index falling another 4.8 percent on Thursday to a four-year low. According to the Financial Times, the drop this year has totaled 10.6 percent, and leaves it 44 per cent weaker than its post financial crisis peak in 2014. The TASI […]
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Video Released Shows Timelapse Construction on Riyadh’s Metro Project
A recently released video by the leading construction partners on Riyadh’s metro project highlighted the progress made on the mega-project that will change the way the city’s residents get around. In October, the Riyadh metro project hit a major milestone as a consortium led by Spanish construction giant FCC said it has completed the drilling […]
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GE secures $1b contract to produce gas and steam turbines to power more than 500,000 homes in Saudi Arabia
GE has been awarded what the company called a “landmark contract” with Saudi Arabia valued at nearly US$1 billion for the engineering, construction and provision of gas turbine services for the Waad Al Shamal combined cycle power plant of Saudi Electricity Company (SEC). The plant, scheduled for completion in 4 years, will support the phosphate mining […]
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An ‘Islamic NATO?’ Recently Formed Defense Coalition Faces Challenges in Fighting Extremism
Writing in Al Monitor, Washington-based analyst Fahad Nazer comments that Saudi Arabia may be aiming to form an Islamic NATO of sorts, in part because of the turmoil and instability surrounding the Kingdom from virtually all sides. Saudi Arabia’s government sees a more active foreign policy as essential, especially in the absence of a physical American presence in the region. “For much of […]
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McKinsey & Company Publishes 165-Page Analysis of ‘Saudi Arabia Beyond Oil’
McKinsey & Company, the top-tier global consulting firm with offices in Riyadh and across the Middle East, published an in-depth report on the Saudi Economy and the opportunities for the Kingdom beyond oil. The report, produced by the McKinsey Global Institute (MGI) and available on McKinsey’s website to the public (executive summary here, full report […]
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MUST-READS
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Syria: US begins air strikes on Islamic State targets
US Central Command (Centcom) said Sunni Arab countries Bahrain, Jordan, Qatar, Saudi Arabia and the United Arab Emirates "participated in or supported" the strikes
- AP - Syria Says Washington Informed It Before Strikes
- Washington Post - A New Battlefield
- FT - US and allies attack Isis in Syria
- Foreign Policy - U.S. Begins Airstrikes Inside Syria
- Los Angeles Times - U.S. airstrikes expand to Syrian city of Aleppo
- Bloomberg - Israel Shoots Down Syrian Warplane After Flight Over Golan
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UN’s flight marks new era on Israel-Syria front
"Their mandate is just not relevant anymore," said Stephane Cohen, a former Israeli military liaison officer with UNDOF. "They are there to oversee an agreement between two countries — Israel and Syria — and in practice there is no Syria anymore." That endangers a status quo that — despite a formal state of war between Israel and Syria — is widely regarded as convenient.
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House approves Obama’s Iraq-Syria military strategy amid skepticism
The vote placed Congress one step closer to authorizing the third significant U.S. military operation in Iraq in the past quarter century, and it put lawmakers on record approving U.S. engagement in the years-long Syrian civil war. It delivered Obama much-needed domestic political support as he seeks an international coalition to combat the growing threat of Islamist terrorism in the Middle East. But the tally — 273 to 156 — also revealed widespread misgivings in both parties about the plan’s chances of success, even among lawmakers who voted in favor of it.
- Defense One - Petraeus, Crocker Support Plan To Arm and Train Syrian Rebels
- Military Times - U.S. Officials Parse Term 'Ground Troops' When Describing Iraq Mission
- National Journal - Joe Biden on Using American Ground Troops Against ISIS: 'We'll Determine That Based on How the Effort Goes'
- AP - Senate Next After House Backs Obama on Rebel Aid
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US-Israel Accord to Support Coordinated Air Ops in Syria
The official underscored that while Israel principally supports Obama’s call for a united front against IS and all forms of radical terror, Israel’s primary concern is preventing Assad’s strategic arsenal from reaching the hands of Hezbollah allies fighting on behalf of the Syrian regime
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U.S. lawmakers move toward arming Syrian rebels, with conditions
The U.S. House of Representatives will begin debating legislation on Tuesday to give President Barack Obama approval for arming and training rebels who oppose both Islamic State militants and Syria's government. Republican lawmakers unveiled a measure, written with input from the White House, that would quickly provide the authority - but not the funding - that Obama wants to equip and train the moderate Syrian rebels.
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Potential U.S. allies? Syrian rebel groups at a glance
President Obama has said a key part of his strategy to degrade and defeat Islamic State militants will be working with moderate Syrian opposition groups. He has called on Congress to authorize $500 million to train and arm Syrian rebels to become America's partners. But who are these groups, and to what degree can the U.S. rely on them?
- Lawfare - Opinion: The Foreign Policy Essay: Is this How to Win the war on Terrorism?
- Small Wars Journal - Opinion: If You Liked Vietnam, You'll Love the War With the Islamic State
- NYT - Syrian Leaders See Opportunities and Risks in U.S. Striking ISIS on Their Soil
- NYT - Opinion: To Stop ISIS in Syria, Support Aleppo
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Obama orders U.S. airstrikes in Syria against Islamic State
President Barack Obama told Americans on Wednesday he had authorized U.S. airstrikes for the first time in Syria and more attacks in Iraq in a broad escalation of a campaign against the Islamic State militant group. Obama's decision to launch attacks inside Syria, which is embroiled in a three-year civil war, marked a turnabout for the president, who shied away a year ago from airstrikes to punish Syrian President Bashar al-Assad for using chemical weapons against his own people.
- Washington Post - Countering ISIS Will Be Hard in Iraq and Harder in Syria, Officials Say
- Defense One - Islamic State Unites Congress, But Lawmakers Diverge on the Way Forward
- Long War Journal - US strategy against Islamic State to mirror counterterrorism efforts in Yemen, Somalia
- NPR - Opinion Pages Offer Support On Plan To Combat Islamic State
- The Atlantic - Opinion: Obama's Realization: There's No Way Out of the Middle East
- WSJ - U.S. to Rely on Local Forces to Fight Islamic State
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Combat Reversals Pressure Syria’s Assad, Complicating Efforts Against Islamic State
In a span of weeks, the Islamic State has overrun military bases in Syria's east. In the west, the regime faces a coalition of rebels that threatens the heartland of Mr. Assad's Alawite minority and could alter the course of Syria's multi-sided civil war. Alawites, a Shiite-linked group that forms the backbone of the regime and pro-government militias, are angry over the loss of hundreds of troops last month after the Islamic State captured an air base in the northeastern province of Raqqa.
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Poll: Public supports strikes in Iraq, Syria; Obama’s ratings hover near his all-time lows – The Washington Post
Americans overwhelmingly view Islamic State terrorists as a serious threat to vital U.S. interests and, in a significant shift, widely support airstrikes in Iraq and Syria, according to a new Washington Post-ABC News poll. The nation’s increasingly hawkish mood will form part of the backdrop for a speech by President Obama on Wednesday, when he will outline his thinking on how to confront the threat from the Islamic State. Obama’s remarks will come a day after he confers with congressional leaders at the White House about the administration’s planning.
- Stratfor - Opinion: The Virtue of Subtlety: A U.S. Strategy Against the Islamic State
- Defense One - Islamic State Dominates the Post-Recess Conversation in Congress
- CBS News - Obama to outline plan to fight ISIS
- Military Times - Obama, Congress in legal gray area over powers to fight Islamic State
- CFR - How the Lessons of Iraq Are Shaping the Fight Against the Islamic State
- ME Briefing - Opinion: ISIL May Represent a Turning Point for the US Role in the Middle East
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West widens contacts with Syria’s Kurds but suspicion remains
In Iraq, Kurds are one of the main Western allies against Islamic State. But in Syria, where Kurdish militia have carved out a swathe of northern territory and repeatedly battled against Islamic State during a three-and-a-half year civil war, Kurds have yet to win the West's acceptance as partners. The main Kurdish political party in Syria, the PYD, and its armed wing, the YPG, say they are obvious allies for Western states as the only force with a proven track record of combating Islamic State there. The Kurds are dismissive of the moderate Syrian opposition that has been backed by the West but outgunned by Islamist groups.
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