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FM Al-Jubeir Blasts Critics of Saudi Arabia’s Counter-Terrorism Efforts: ‘It is in our National Interest to Defeat Terrorism’
- February 4,2016
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- SUSTG Team
Saudi Arabia’s Foreign Minister Adel Al-Jubeir wrote his second op-ed in three weeks in a U.S. publication, this time blasting critics of Saudi Arabia’s counter-terrorism efforts. “Those who accuse Saudi Arabia of supporting violent extremism not only fail to acknowledge the kingdom’s leadership in combating terrorism around the world but also do not see that it is […]
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Analysis: Taking Stock of ‘Nitaqat’ Labor Reforms, 5 Years On
- February 3,2016
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- Nathan Field
5 years ago – as the Arab Spring rocked the Middle East – the Saudi government launched its own version of “political” reform. In September 2011 it began a series of policies aimed at reforming the country’s labor market and lowering the Kingdom’s chronically high unemployment rates. I have been following the fate of these […]
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Little Upside in Latest Jadwa Saudi Chartbook
- February 2,2016
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- SUSTG Team
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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Saudi Arabia, Turkey Support Syrian Opposition at Geneva Talks but ‘Avoid Setting the Agenda’
- February 1,2016
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- Lucien Zeigler
Saudi Arabia and Turkey voiced their support of Syria’s opposition members in Geneva for possible U.N.- sponsored peace talks with the Syrian regime, whether the opposition continued with the talks or not. The comments were made in a joint press conference by Saudi Arabia’s Foreign Minister Adel Al-Jubeir and Turkish Premier Ahmet Davutoglu in Riyadh. Saudi […]
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With affordable housing in short supply, new JV set to provide mortgage loans to low and middle-income Saudis
- January 29,2016
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- Lucien Zeigler
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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Saudi Competitiveness, Energy, Women in Focus at 9th Global Competitiveness Forum in Riyadh
- January 26,2016
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- SUSTG Team
The 9th Global Competitiveness Forum (GCF) in Riyadh entered its third and final day with a focus on energy, women in the workforce, and increasing Saudi Arabia’s competitiveness in the global economy. Annually, it is one of the largest business forums in the Kingdom and is well-attended by government, business, and academic leaders from Saudi […]
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U.S. Chamber of Commerce and Council of Saudi Chambers Kick-off U.S.-Saudi Arabia CEO Summit
- January 25,2016
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- SUSTG Team
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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U.S., Saudi Business Leaders to Meet in Riyadh for U.S.-Saudi CEO Summit, GCF 2016
- January 21,2016
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- SUSTG Team
U.S. and Saudi business leaders will convene in Riyadh this weekend and into next week for events aimed at promoting business opportunities and investment in Saudi Arabia and enhancing the bi-lateral commercial relationship with the United States. The inaugural U.S.-Saudi CEO Summit, organized by the U.S. Chamber of Commerce and the Council of Saudi Chambers […]
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IMF Backs Saudi Cuts, Puts Saudi Growth Forecast at 1.2 Percent in 2016
- January 20,2016
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- SUSTG Team
The “new reality” of lower crude prices means governments in the Gulf – and especially Saudi Arabia – are right to cut spending to reflect this new fiscal reality, the IMF said. The IMF slashed its forecast for growth in Saudi Arabia, as it blamed the slowing Chinese economy, the collapse in oil prices and […]
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Saudi-led Intervention in Yemen to Restore Hadi Continues into 10th Month with ‘Different Objectives’
- January 19,2016
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- SUSTG Team
The Saudi-led intervention in Yemen continues into its 10th month of fighting with some gains but no decisive victory for the coalition seeking to restore power to the UN-recognized Hadi government and oust control of parts of the country from Houthi militia members. The coalition has retaken Aden, Yemen’s southern port, and according to Saudi […]
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Oman opens airspace, joining Saudi corridor for Israeli carriers
In July, U.S. President Joe Biden announced that Riyadh would allow unfettered Israeli overflights. But implementation had been on hold pending the agreement of Oman, as the Saudi corridor extends over its territory for easterly routes.
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Saudi Arabia Votes in Favor of UNGA Resolution Calling for Russia to Withdraw from Ukraine
The Kingdom of Saudi Arabia has voted today in favor of a United Nations General Assembly resolution that calls for Russia to end hostilities in Ukraine and calls for the withdrawal of its forces. Last October, the Kingdom voted for the United Nations General Assembly resolution against the annexation of four Ukrainian regions, and before that in March, Saudi Arabia voted in support of the United Nations General Assembly Resolution that supported international law, the UN charter, and the sovereignty and territorial integrity of states, including Ukraine.
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Arab states support UN resolution condemning Russia’s invasion of Ukraine
A UN resolution condemning Russia’s invasion of Ukraine was adopted on Thursday, with an overwhelming majority of member states voting to call for the Kremlin to withdraw its troops immediately. Ahead of the one-year anniversary of Russia’s war on Ukraine, 141 UN members voted in favor of the resolution, which calls for an immediate end to Moscow’s hostilities. Seven countries opposed the resolution, with 32 others abstaining, including China, India, Pakistan and Ethiopia.
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UAE-Oman travel time cut to 47 minutes in new railway agreement
UAE to Oman train travel is a step closer after rail operators and Abu Dhabi’s Mubadala today penned a deal to help develop the $3bn transport network. Oman and Etihad Rail Company, the developer and operator of the UAE-Oman Rail Network, signed an agreement with Mubadala Investment Company to support the development of the 303km railway network, which connects Oman and the UAE.
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Dubai Bling: Netflix launches investigation into salary leak scandal
Netflix has launched an investigation after the salaries of the Dubai Bling cast members were published last week by Arabian Business. Sources say the company, which is currently filming season 2 of the reality TV show, is “determined to find the mole” who leaked the information.
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One year into the Ukraine war, US fails to get Middle East allies to take sides
“It has been clear since the start of the Russian invasion a year ago that America’s regional partners in the Middle East… were not going to take sides or get involved in the great power competition and strategic rivalry that has taken on a harder edge since 2022,” said Kristian Ulrichsen, a political scientist at Rice University’s Baker Institute in Houston, Texas.
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BAE Systems forecasts more growth on Ukraine conflict boost
BAE Systems (BAES.L), Britain's biggest defence company, said earnings would rise again this year after jumping last year, as Russia's invasion of Ukraine continues to drive military spend higher. Demand for weapons, ammunition and military equipment has soared as Britain, the United States and other allies support Ukraine and look to shore up their own stocks due to the Ukraine conflict, which will mark its first anniversary on Friday. "We expect continued momentum in the medium to long term as governments replenish stocks, recapitalise equipment and support allies," BAE Chief Executive Charles Woodburn said in an interview.
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Oman opens airspace, joining Saudi in Israeli airline corridor
Oman's Civil Aviation Authority (CAA) on Thursday said the Gulf Arab state's airspace will be open for all civilian carriers, a move that would enable Israeli airlines to utilise a Saudi-Oman corridor to cut flight times to Asia. Saudi Arabia, which like Oman does not have formal ties with Israel, last summer said it would open its airspace to all air carriers, but Israeli officials had said the corridor could not be implemented until Oman consented.
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Saudi Cup: Taiba draws post 2, Country Grammer 10
Country Grammer was runner-up in this race last year to Emblem Road and won the Dubai World Cup (G1) next out. He will be ridden by Frankie Dettori, who also rode the 6-year-old to a 4 1/2-length win in the Dec. 26 San Antonio (G2).
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A Sudden Rush to Make Sustainable Aviation Fuel Mainstream
United Airlines and other companies have started a $100 million fund to invest in jet fuel that produces fewer greenhouse gases.
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