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Recent stories from sustg
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Big Week for Oil Prices as Major Producers Scramble for a Deal
- April 6,2020
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- SUSTG Team
Saudi Arabia, Russia, OPEC countries and the United States are hoping this week a deal can be reached on production cuts to prevent the price of oil from falling further on international indices, but some analysts and market observers are skeptical that such a deal can come together given the current market dynamics.
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Saudi Arabia’s King Salman Chairs Virtual Gathering of G20 Countries to Combat COVID-19
- March 26,2020
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- SUSTG Team
Saudi Arabia’s King Salman chaired a virtual G20 summit via video teleconference with world leaders to address the COVID19 crisis under the G20 Saudi Arabia Presidency.
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Jadwa Macroeconomic Update: COVID-19 ‘Changes Everything, for Now’
- March 19,2020
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- SUSTG Team
The latest Macroeconomic Update report from Jadwa Investment examines the impact of the COVID-19 virus, or Coronavirus, on the Saudi economy, noting that while COVID-19 will put pressure on the oil economy, downside risks to non-oil growth will also be noticeable in the Kingdom.
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Report: Saudi Plans $6bn Surge in Mortgage Refinancing
- March 5,2020
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- SUSTG Team
Saudi Arabia’s first mortgage refinancing firm “aims to raise its holdings of home-loan portfolios by 10 times this year,” Bloomberg reports, as the Kingdom’s Saudi Housing Minister said that Saudi’s first mortgage refinancing firm plans to buy more than SAR 23 billion ($6.1 billion) of mortgage portfolios from banks in 2020.
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Pompeo Meets with King Salman, FM Prince Faisal bin Farhan in Riyadh
- February 20,2020
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- SUSTG Team
Secretary of State Mike Pompeo met with King Salman and Foreign Minister Prince Faisal bin Farhan in Riyadh today, photos from the Saudi Press Agency show.
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Saudi Cabinet Gives Approval to Saudi Export and Import (Exim) Bank, Launch Expected Soon
- February 18,2020
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- SUSTG Team
Saudi Arabia’s Council of Ministers has approved regulations for the creation of a new Saudi Export and Import (Exim) Bank on Tuesday during a session presided over by Custodian of the Two Holy Mosques King Salman at Al-Yamamah Palace.
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Jadwa Investment: Saudi Inflation Set to Rise Slightly in 2020; Non-Oil Private Sector to Pick Up
- February 5,2020
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- SUSTG Team
A recently-released report by Jadwa Investment notes that the Kingdom will see a slight increase in inflation in 2020 on expectations of a continued pick-up in non-oil activities and an elevated level of consumer spending.
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Saudi Aramco Makes $5 million Investment in Blockchain-Based Oil Trading Company VAKT
- January 28,2020
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- SUSTG Team
Saudi Aramco Energy Ventures (SAEV) has invested $5 million into blockchain-based oil trading company VAKT, the company said in a press release.
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Israelis Can Now Go to Saudi Arabia For Religious Pilgrimages, Business Visits, Israel Says; Saudi Says ‘Our Policy is Fixed’
- January 27,2020
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- SUSTG Team
UPDATE: Saudi Arabia’a Foreign Minister said Israelis were not welcome to visit the kingdom, CNN reported on Monday. “Our policy is fixed. We do not have relations with the state of Israel and Israeli passport holders cannot visit the kingdom at the current time,” CNN quoted Prince Faisal bin Farhan as saying. [Reuters] —- A new […]
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Kingdom’s Domestic Tourism, Entertainment Push Leads to Declines in Saudis Visiting Dubai
- January 24,2020
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- SUSTG Team
The number of Saudi tourists visiting Dubai in 2019 dropped as Saudi Arabia begins to see major gains in its domestic tourism market and local entertainment offerings.
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MUST-READS
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Syria: Chemical AttacksU.S. and Russia Pave Way to Blaming Assad for Chlorine Attacks
The U.N. Security Council is poised to adopt a resolution Friday morning that will establish an international investigation unit to identify individuals responsible for carrying out dozens of chemical weapons attacks in Syria in the hope of one day holding them accountable for their crimes, according to Security Council diplomats.
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U.S. Foreign Policy: LibyaLibyan force was lesson in limits of U.S. power
Envisioned as a low-cost, low-risk means to stabilize Libya, the planned force became a case study in the limits of American power to shape events following the upheaval of the Arab Spring. It also showed how a protracted planning process and a strong aversion to risk bogged down what was supposed to be Obama’s signature effort in Libya.
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U.S. - SyriaU.S. to defend Syrian rebels with airpower, including from Assad
The United States has decided to allow airstrikes to defend Syrian rebels trained by the U.S. military from any attackers, even if the enemies hail from forces loyal to Syrian President Bashar al-Assad, U.S. officials said on Sunday.
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Robert Jordan InterviewFormer U.S. Amb to Saudi Arabia, Robert Jordan, speaks with Fareed Zakaria about Saudi Arabia’s new king and more
The greatest leap forward was after the bombings on May 12th of 2003, when three Western housing compounds were – got blown up by Al Qaeda operatives.
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U.S.-SaudiA Marriage on the Rocks? Saudis Look Beyond U.S. After Iran Deal
“Trust between Saudi Arabia and the U.S. has been damaged by the Iran nuclear deal,” said Paul Sullivan, a Middle East specialist at Georgetown University in Washington. “Many in Saudi Arabia feel abandoned by the U.S.”
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SyriaU.S. Shoots Down Idea of Syria Safe Zone
Days after the U.S. and Turkey announced a breakthrough deal to fight together against the Islamic State, U.S. officials are insisting that -- contrary to reports -- there are definitely no U.S. plans for a “safe zone” inside Syria. In fact, there really is no “zone,” and there is no plan to keep the area “safe.”
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U.S.-SaudiSaudi Arabia removed from U.S. blacklist on human trafficking
The United States has removed Cuba, Saudi Arabia and Malaysia from its blacklist of countries engaged in human trafficking.
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SABICSaudi Arabia’s Sabic Considering Shale Gas Investments in U.S.
Saudi Basic Industries Corp., the world’s second-biggest chemicals manufacturer, plans to expand investment in U.S. shale gas projects through joint ventures, according to acting Chief Executive Officer Yousef al Benyan.
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TurkeyTurkey agrees to allow U.S. military to use its base to attack Islamic State – The Washington Post
The decision to allow U.S. warplanes to use the Incirlik air base in southern Turkey was the culmination of nine months of negotiations between Washington and Turkey, which had resisted being drawn too deeply into the war against the Islamic State because of concerns about the direction of the Obama administration’s Syria policy.
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OilOil falls, U.S. crude settles below $50 as inventories rise
Oil prices fell and U.S. crude settled below $50 a barrel on Wednesday after government data showed crude inventories in the United States rose last week and as a stronger dollar and weaker global equities applied pressure.
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