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Recent stories from sustg
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Trading Begins Tomorrow on NCB’s ‘Steeply’ Discounted IPO as the Government Eyes Financial Sector Reforms
- November 11,2014
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- Lucien Zeigler
Trading is set to begin tomorrow on steeply discounted shares of Saudi Arabia’s National Commercial Bank as Saudi Arabia’s capital market regulator will introduce rules for credit rating agencies next September, according to reports. Matthew Martin and Sarmad Khan of Bloomberg quote Asim Bukhtiar, a vice president and head of research at Riyad Capital, as saying […]
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Jadwa Investment’s November 2014 Saudi Chartbook finds Bank Lending to Private Sector Year-on-Year Highs
- November 11,2014
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- SUSTG Team
Jadwa’s November 2014 Chartbook shows bank lending to the private sector recorded its highest year-on-year growth at 13.2 percent and noted that economic data was positive for September. “Bank lending to the private sector recorded its highest year-on-year growth at 13.2 percent, the highest since November 2013,” Jadwa Investment said, noting that generally “economic data was […]
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Energy Subsidies in the Gulf a Staggering $160 billion Annually, World Bank Says
- November 5,2014
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- Lucien Zeigler
Gulf states are spending an average of 10% of GDP on energy subsidies each year, a total of $160 billion, an IMF official said according to Arab News. “The GCC and other MENA states must start cutting energy subsidies now otherwise problems associated with them will get worse,” said Shantayanan Devarajan, chief economist for the World Bank in Middle […]
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First Global Entrepreneurship Forum Kicks off in Riyadh, Saudi Arabia as Kingdom Eyes SME Growth
- November 3,2014
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- Lucien Zeigler
The first Global Business Entrepreneurship Forum (GEF) was held in Riyadh, Saudi Arabia today to bring together top business and startup leaders to the Ritz Carlton Hotel near the Diplomatic Quarter in the Saudi capital. Organized by the Centennial Fund, the GEF’s first event in Riyadh was a chance for entrepreneurs and others in the […]
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The Best SPA Photos from October 2014
- November 3,2014
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- SUSTG Team
In the September edition of the best photos from the Saudi Press Agency, a dazzling performance from Saudi security forces, infrastructure in the Kingdom, ancient woodworking and more.
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Investing in Middle East Healthcare for both Financial and Social Returns
- October 31,2014
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- Mussaad Al-Razouki
It is no secret that Gulf Cooperation Council (GCC) governments are spending billions of dinars, riyals and dirhams on upgrading their healthcare infrastructure. Local and regional newspapers are filled with stories on newer, bigger and flashier hospital projects. Saudi Arabia’s 2013-2014 budget includes funds for 19 new hospitals in addition to the 102 hospitals currently […]
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Video: Full Keynote Address by HRH Prince Turki Al Faisal at the 2014 AUSPC
- October 30,2014
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- SUSTG Team
Prince Turki al-Faisal’s remarks to the 23nd Annual Arab-U.S. Policymakers Conference, entitled, “Framing and Charting the Region’s Issues, Interests, Challenges, and Opportunities: Implications for Arab and U.S. Policies” Saudi Arabia’s Prince Turki al-Faisal is Chairman, King Faisal Center for Research and Islamic Studies, Riyadh, Saudi Arabia and former Saudi Arabian Ambassador to the United Kingdom and to […]
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Al-Jubeir: ‘Every Time the U.S. and Saudi Arabia Have Come Together, We have Done Wonders for the Region’
- October 30,2014
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- SUSTG Team
In his luncheon keynote remarks to the National Council on US-Arab Relation’s annual policymaker’s forum in Washington, D.C., Saudi Arabia’s Ambassador to the United States Adel al-Jubeir discussed the historical and current status of the Saudi-U.S. relationship and it’s track record of success when facing regional and global challenges. Full video of his remarks can […]
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At Policymakers Event, Prince Turki al-Faisal Takes Aim at Allegations of Saudi Support of Terror
- October 29,2014
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- Lucien Zeigler
Saudi Arabia’s Prince Turki al-Faisal, Chairman, King Faisal Center for Research and Islamic Studies, Riyadh, Saudi Arabia and former Saudi Arabian Ambassador to the United Kingdom and to the United States of America, delivered sharp criticism of those who put forth unsupported allegations of Saudi financing of extremism abroad, urging them to come forward with […]
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#FocusKSA: Power Subsidies and Electricity Supply in Saudi Arabia
- October 28,2014
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- SUSTG Team
A clip from SUSTG.com’s recent FocusKSA discussion with Dr. Fahad al-Turki of Jadwa Investment highlights some challenges and opportunities in powering the Kingdom of Saudi Arabia. Jadwa is a well-regarded, Shariah-compliant, investment firm based in Riyadh and Dr. Fahad spearheads a superb analysis team that publishes very informative reports such as it’s Chart […]
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Trump Ramps Up Israel Support as Saudi Prince Condemns War
US President-elect Donald Trump’s choice of three ardently pro-Israel lawmakers for top foreign-policy jobs underscores that his focus will be on heightening support for Israel and boxing in Iran once he takes office. Even after he won over many Arab Americans who criticized the Biden administration over its support for Israel in the Gaza war, the selections will be deeply reassuring to Israeli leaders after their sometimes fraught relationship with President Joe Biden.
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Gulf states wary of return to Donald Trump’s ‘maximum pressure’ against Iran
Leaders like Saudi Arabia’s Crown Prince Mohammed bin Salman were among Trump’s most enthusiastic Arab backers during his first term as US president, welcoming both his adversarial approach to Iran and his transactional style after years of Gulf frustration with American policy. But in the years since, the Gulf’s two powerhouses — Saudi Arabia and the UAE — have changed tack, seeking to engage with Tehran amid doubts about the US’s commitment to their security. This became more urgent after Hamas’s October 7 2023 attack against Israel triggered a wave of regional hostilities and heightened tensions between the US and Iran, with both Riyadh and Abu Dhabi seeking to remain on the sidelines.
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Khalid bin Salman’s Rising Influence in Saudi Defense Reforms
Saudi Arabia is investing in the reorganization of the defense ministry, and to further improve defense sector’s human skills. This fits into the professionalization path the Saudi armed forces have embraced, also complying with Riyadh’s greater defense autonomy aspirations. The plan foresees three main reform phases: the building of the ministry’s centre and of specific undersecretaries (for instance, on strategic affairs, and on procurement); the reorganization of the forces to increase performance efficiency and facilitate joint operations; the rearming of the forces and the building of capabilities.
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Nigeria Seeks $5 Billion Trade Facility From Saudi Arabia
Nigeria is seeking a $5 billion trade facility from Saudi Arabia to shore up capital for its economic reform program. The West African nation wants a deal with the Saudi government on the facility, Nigeria’s presidency said in a statement Tuesday after President Bola Tinubu met Crown Prince Mohammed bin Salman in Riyadh on the sidelines of the joint Arab-Islamic Summit. No further details were given.
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Saudi Arabian Schools Welcome First Chinese Teachers
The first 175 Chinese language teachers began teaching at primary and middle schools in Saudi Arabia last month, as part of an agreement made between the two countries in 2023 to enhance cooperation in Chinese language education. According to China’s state Xinhua News Agency, Saudi Arabia will start with Chinese language classes in middle schools, and 800 such teaching positions will be available.
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MENA cinema market poised for major growth, led by Saudi Arabia’s surge in screen count and revenue
New Omdia analysis has revealed the MENA cinema market is poised for substantial revenue growth, projected to increase from $900 million in 2024 to $1.5 billion by 2029. The Kingdom of Saudi Arabia is expected to play a pivotal role, contributing nearly two-thirds of the region's cinema revenue by 2029. Saudi Arabia is set to lead the MENA region in screen count by year-end, reaching 803 screens, followed by the UAE with 734. This growth is largely due to Saudi Arabia's substantial investment in its entertainment infrastructure.
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Special Briefing: The Middle East reacts to Donald Trump’s reelection
Despite reports during President Joe Biden’s term about tensions between Netanyahu and Trump, when the Israeli prime minister visited the US in July 2024, it was obvious that his meeting with Trump was much warmer than the ones he held with Biden and with Vice President Kamala Harris. In the lead up to the US presidential election, Trump utilized his support for Netanyahu in an effort to sway Jewish American voters in his favor, while also seeking to attract Arab Americans by calling for an end to the wars in Gaza and Lebanon.
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Israeli government celebrates Trump’s victory amid its concerns about Biden’s final policy moves
Israeli Prime Minister Benjamin Netanyahu was quick to call President-elect Donald Trump to congratulate him for his victory in the Nov. 5 US election and to appoint a new ambassador to Washington — a hard-liner from the settler movement. Throughout his years in office, Netanyahu has shown a clear preference for the Republican Party, often being accused of meddling in US politics and eroding the bipartisan nature of American support for Israel.
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Opinion: A new era of hope – Trump’s return and the promise of stability
The reelection of President Donald Trump heralds a new era of optimism and possibility for both the US and the global community. His impending return to office signals a steadfast commitment to revitalizing the US economy and prioritizing the well-being of the American people. As a businessman with a proven track record, Trump brings a practical approach to governance, focusing on economic prosperity and tangible results.
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Silicon Valley’s General Catalyst makes first investment into Saudi Arabia through fintech Lean Technologies
Silicon Valley venture capital firm General Catalyst has made its first investment in Saudi Arabia through fintech startup Lean Technologies, which just closed a Series B round worth $67.5 million. General Catalyst has $30 billion in assets under management and has backed major U.S. tech companies like Snap, Stripe and AirBnb. Lean Technologies’ fundraising round also saw participation from Bain Capital Ventures, Stanley Druckenmiller’s Duquesne Family Office, and Arbor Ventures, among others, bringing the Riyadh-based firm’s total funding to over $100 million to date, according to a Sunday statement from the company. For three of those investors — General Catalyst, Stanley Druckenmiller and Bain Capital — this investment is their first in the kingdom.
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