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Recent stories from sustg
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GE secures $1b contract to produce gas and steam turbines to power more than 500,000 homes in Saudi Arabia
- January 4,2016
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- SUSTG Team
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
- December 22,2015
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- SUSTG Team
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’
- December 16,2015
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- SUSTG Team
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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New Saudi Ambassador to United States HH Abdullah Al-Saud Addresses U.S. Business Community at First Public Event
- December 14,2015
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- SUSTG Team
HH Prince Abdullah Al Saud, Saudi Arabia’s new ambassador to the United States, gave his first public remarks as ambassador to the U.S. business community on Friday at an event at the U.S Chamber of Commerce, co-hosted by the U.S. Chamber of Commerce, the Council of Saudi Chambers of Commerce, the Saudi Committee for International […]
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Syrian Rebels Summit As Riyadh Eyes Political Solution
- December 9,2015
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- SUSTG Team
Rebel factions in Syria’s bloody 4-year civil war meet in Saudi Arabia this week for a conference as Riyadh looks for a political solution to the crisis. Around 100 representatives of the Syrian opposition representing 70,000 “moderate rebels” in the fight held the first meeting of its kind in the Saudi capital. Western nations have observer status at […]
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State Sovereign Wealth Funds Pull Out ‘At Least $19bn’ in Assets from Managers in 3Q 2015
- December 7,2015
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- SUSTG Team
Sovereign Wealth Funds are drawing down on their assets held by managers at an alarming rate, with estimates from some providers putting the amount at $19bn in the third quarter of this year alone, according to reports. A Financial Times report (link here to the same story in CNBC) cites the data provider eVestment as saying the drawdown […]
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Jadwa Investment: A ‘Mixed Picture’ for Domestic Economic Activity in October 2015 Data
- December 2,2015
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- SUSTG Team
Riyadh-based Jadwa Investment’s December 2015 Saudi Chartbook finds a ‘mixed picture’ for Saudi domestic economic activity. While data on consumer spending pointed to healthy growth, PMI fell to its lowest point on record. The Data also show the first positive net monthly change to government accounts with SAMA: Real Economy: October data showed a mixed picture for domestic […]
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Saudi Forces Train to Fight in Rugged Mountain Terrain as War in Yemen Continues
- November 19,2015
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- SUSTG Team
Military personnel from Saudi Arabia were photographed by the official Saudi Press Agency (SPA) training in remote mountain terrain as the battle against the Houthi rebels in Yemen continues. Victory has remained elusive for the Saudi-led coalition fighting in Yemen, but steady gains on the back of coalition airstrikes have turned the tide in the […]
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Saudi Shoura Council Approves Tax on Vacant ‘White Properties’ in Saudi Arabia
- November 17,2015
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- SUSTG Team
Saudi Arabia’s Shoura Council has approved a plan to tax landowners on vacant properties following an earlier Saudi Cabinet decision to pursue a tax on so-called ‘white properties.’ The plan was approved by Saudi Arabia’s King Salman in March and the issue was sent to the Shoura council to be voted upon. It still awaits […]
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KAUST Announces New Partnership with Dow, Launches Venture Capital Fund with ICD
- November 13,2015
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- SUSTG Team
Saudi Arabia’s King Abdullah University of Science and Technology (KAUST) announced two new partnerships this week, including a R&D agreement with Dow Chemical and the creation of a venture capital fund with the Islamic Corporation for the Development of the Private Sector (ICD). The university’s campus is now the future home of the new Dow Middle East […]
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MUST-READS
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AfghanistanU.S.-backed forces control 70 percent of Afghanistan, U.S. military chief says
Local security forces control 70 percent of Afghanistan, a senior U.S. military official said on Thursday, suggesting that the Taliban and other militants hold almost a third of that nation after 15 years of U.S. and NATO efforts to secure it.
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SyriaU.S. Abandons Syria Truce Efforts and Lays The Blame With Russia
U.S. Secretary of State John Kerry abandoned his bid to salvage a cease-fire aimed at easing Syria’s 5 1/2-year civil war, saying it was pointless to press ahead without a “major gesture” from Russia to end the violence.
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Saudi Students in U.S.Crown Prince Meets with Saudi Students in U.S.
Saudi Crown Prince Mohammed bin Naif bin Abdulaziz Al Saud, Deputy Premier and Minister of Interior announced the king’s decision while meeting with Saudi students in New York on Monday.
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U.S.-IranU.S. Gives Airbus Go-Ahead to Send 17 Airliners to Iran
The U.S. government has given plane makers Boeing Co. and Airbus Group SE the all-clear to deliver jetliners to Iran Air in one of the highest-profile trade breakthroughs since nuclear sanctions were lifted on the Islamic Republic in January.
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U.S.-Saudi Military SalesAl Raha gets $355M U.S. Air Force contract for Saudi F-15s
Work will be performed in Saudi Arabia and Georgia. The estimated completion date is December 2017.
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IranIran urges U.S. to unblock aircraft deals, seeks investors
Iran urged the United States on Sunday to remove remaining obstacles to buying passenger planes following the lifting of international sanctions and it spread out the welcome mat to foreign investors as it seeks to boost its aviation sector.
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IsraelThe U.S.-Israel Memorandum of Misunderstanding
According to the governments in Jerusalem and Washington, this was a great week for the U.S.-Israel relationship. The two countries arrived at a "memorandum of understanding" to extend the U.S. subsidy of Israel's military budget until 2028. President Barack Obama, no fan of Israel's current leader, declared: "America's commitment to Israel's security is unshakable."
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JASTAU.S. ‘sponsors of terrorism’ bill could fuel extremism: Saudi adviser
"This legislation sets a dangerous precedent in the field of international relations," Abdullah Al al-Sheikh was quoted as saying by state news agency SPA. Al al-Sheikh is the speaker of the Shura Council, an appointed body that debates new laws and advises the government on policy.
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U.S.-IranClose encounters with Iran show need for rules of behavior: U.S. Navy
A series of close encounters between the U.S. navy and Iranian combat vessels in the Gulf show the need for Iran and the United States to agree rules of behavior to avoid risky miscalculations, the head of the U.S. Navy said on Monday.
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Global Oil MarketsSaudi Arabia Ousts U.S. as Biggest Oil Producer, IEA Says
Saudi Arabia has retaken the position of the world’s top oil producer from the U.S., according to the International Energy Agency.
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