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CMA Tightens Curbs on Anonymous Investors in Preventive Measure to Curb Money Laundering and Terrorist Financing
- October 14,2015
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- SUSTG Team
Saudi Arabia’s Capital Market Authority has further tightened its restrictions on anonymous investors trading shares through brokers in a bid to prevent money laundering and financing of militant groups, Reuters reports. The new rules apply to Saudi and Gulf-based brokers and banks “which offer opportunities to invest in the Saudi stock market through funds called ‘nominee accounts’. […]
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Current and Long-Term Challenges for the Labor Market in Saudi Arabia – Jadwa Investment
- October 12,2015
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- SUSTG Team
A recently released report by Jadwa Investment on the Saudi labor market looks ahead to the potential significant challenges still facing the labor market within Saudi Arabia. “The Saudi Labor Market has undergone significant and dynamic change over the course of the last decade. The labor market is notably segmented and unique challenges are being […]
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Jadwa October 2015 Chartbook: Investment in Foreign Securities Recorded a Monthly Increase, First Time in 2015
- October 9,2015
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- SUSTG Team
Investment in foreign securities recorded a monthly increase for the first time in 2015, an indication that pressure continued to be relieved off foreign reserves as the main deficit financing tool, according to a recently released report by Riyadh-based Jadwa Investment. Additionally, net monthly withdrawals from government accounts continued to be small in August compared to […]
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Iranian Fighters Among Those Captured So Far in Yemen, According to a Former Saudi Navy Captain and Prince
- October 7,2015
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- SUSTG Team
At a NCUSAR-hosted event on Capitol Hill in Washington yesterday, HRH Navy Captain (Ret.) Prince Sultan bin Khalid Al-Faisal told an audience that Iranians and Hezbollah forces have been captured by Saudi-led coalition forces in Yemen. Barbara Slavin in Al Monitor writes that while Prince Sultan bin Khalid Al-Faisal was not speaking on behalf of the Saudi government, “his […]
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Saudi Students in the U.S. Increased 20% from 2013/2014 and Are Increasingly Placed in Diverse Institutions, Study Finds
- October 6,2015
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- SUSTG Team
A recent report on Saudi students in the United States by World Education News and Review (WENR) found that Saudis studying in the U.S. have increased by 20% in the last year and often apply to a wider range of schools other than the elite institutions that are a typical focus of international applicants. The […]
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As Putin Ramps Up Attacks in Support of Assad, Saudi Arabia and the Gulf States Eye a Response
- October 5,2015
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- SUSTG Team
Russia’s recent military escalation in support of Syria’s embattled president is placing Riyadh and Moscow on a collision course as regional powers vie to determine the future of in the war-torn country. In the near term, it is expected that Russian air power will “provide desperately needed air support and boost the morale of Syria’s battered […]
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14 Years After 9/11 Attacks, U.S. Judge Throws Out Suit Against Saudi Arabia
- September 30,2015
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- SUSTG Team
A U.S. judge on Tuesday dismissed claims against Saudi Arabia by families of victims of the Sept. 11, 2001 attacks, just over 14 years after the strikes on the World Trade Center towers and the Pentagon. U.S. District Judge George Daniels in Manhattan said Saudi Arabia “had sovereign immunity from damage claims by families of […]
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Democratic Ex-Congressman Calls for Deepening of U.S.-Saudi Ties, ‘This partnership serves U.S. economic as well as security interests’
- September 29,2015
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- SUSTG Team
Former Rep. Gary L. Ackerman (D-N.Y.) from New York, who served for 30 years in the U.S. House, has penned an op-ed in The Hill outlining the importance of strengthening ties between the U.S. and Saudi Arabia. “Sometimes, it’s a good idea to reach out to your enemies. But don’t ever take old friends for […]
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SAMA Draws Down on ‘$50-70 Billion’ From Foreign Assets in Face of Sustained Oil Price Slump
- September 28,2015
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- Lucien Zeigler
Saudi Arabia is seeking to cut its widening deficit and “reduce exposure to volatile equities markets amid the sustained slump in oil prices” as it draws down a reported $50-$70 billion from foreign holdings around the world in 2015, according to a Financial Times report. The sale of assets is in line with estimates on […]
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Saudi King Salman Orders Safety Review After Hajj Stampede Tragedy
- September 25,2015
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- SUSTG Team
Saudi Arabia’s King Salman has ordered a safety review for the Hajj pilgrimage after at least 717 people died and 863 were injured in a stampede at Mina, near the holy city of Mecca, according to reports. Via a report in Germany’s DW, Saudi officials put the blame for the tragedy partially on”undisciplined pilgrims” who […]
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MUST-READS
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Jamming, precision artillery and long range drone strikes on Libyan battlefield offer lessons learned for US military
Battles with characteristics of near-peer combat are raging in Africa — especially in Libya, where high-tech precision strike weapons are flooding the battlefield. And at a time when the U.S. is considering drawing down troops, the conflict in Libya is providing Pentagon planners with an opportunity to better prepare for any future conflict with China or Russia.
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MBC Group is Red Sea Film Festival’s main media partner
Red Sea International Film Festival has announced its principal partnership with MBC Group, the largest and leading multi-media company in the Middle East and North Africa region. The Red Sea International Film Festival’s opening ceremony on March 12 will be broadcasted on MBC TV.
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UAE, Saudi partner to empower businesses in cross-border trade
The key highlights of the alliance between the two institutions include sharing of work streams that include insurance, reinsurance and collections cooperation; Commercial information and credit opinion sharing; cooperation in technical training programs; Trade promotions; SME programs, among others.
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Earthquake in Turkey-Iran border region kills nine, injures more than 100
Nine people were killed and buildings collapsed across southeastern Turkey on Sunday when a magnitude 5.7 earthquake struck near the border with Iran, injuring more than a hundred in villages and towns in both countries, government officials said.
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Analysis: Saudi Arabia set to compete fiercely with major Asian gasoil exporters with Jazan startup
The kingdom's latest 400,000 b/d domestic refinery and petrochemical project in Jazan, located on the Red Sea, is expected to start commercial operations some time in mid-2020, S&P Global Platts reported earlier. At full capacity, Jazan will produce 209,900 b/d of ultra-low sulfur diesel, 71,400 b/d of 91 RON and 95 RON gasoline, 48,500 b/d of high sulfur fuel oil and 6,700 b/d of LPG, according to an Aramco corporate presentation at an industry conference in June.
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Traveling private collection of Banksy artworks lands in Saudi Arabia
The traveling exhibition, which has already made its way to Amsterdam, Berlin, Melbourne, and Paris, will land in an Arab country for the first time ever. It showcases over 80 iconic creations from multiple private collections including photographs, multi-media prints, and a documentary on the artist and his work.
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IsraelBenjamin Netanyahu’s corruption trial will start two weeks after Israel’s elections
Prime Minister Benjamin Netanyahu's criminal trial is set to begin March 17, just two weeks after Israel's elections, the Justice Ministry announced Tuesday. The trial will begin one day after the country's newly elected parliament is sworn in and in the middle of coalition negotiations, as Israel tries to break a year-long political deadlock.
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Dar Al ArkanSaudi Dar Al Arkan starts marketing $300-$400 mln 7-year sukuk – document
Saudi Arabia’s Dar Al Arkan Real Estate Development Co has begun marketing $300-$400 million in seven-year sukuk at 7.375-7.5%, a document from one of the banks leading the deal showed on Wednesday.
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AISaudi Arabia’s Artificial Intelligence Dreams
Though the industry is still in a nascent stage, there are already a host of startups in Saudi Arabia. Some current Ai startups include Lucidya, an Ai-analytics firm for businesses to monitor their global presence in the social media world. UnitX, a supercomputing and Ai firm that was founded at and financed by King Abdullah University. Healthcare firm Nala, which uses Ai to offer instant diagnosis of patients' issues in Arabic. As of November 11th, 2019, Nala had boasted over 50,000 patient diagnoses on their platform throughout Saudi Arabia.
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Neutral ZoneRestarted Saudi, Kuwaiti Oilfields To Pump 550,000 Bpd By End-2020
Trial production at the Khafji and Wafra began on Sunday, as previously anticipated. Oil production rates will be gradually increased until they reach “the normal level,” state Kuwait News Agency (KUNA) quoted minister al-Fadhel as saying. The regular levels of production of nearly 550,000 bpd will be restored by the end of the year, al-Fadhel noted.
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