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King Salman Issues Royal Decrees on Security as U.S. Praises ‘Strong Counterterrorism Relationship’
- July 21,2017
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- SUSTG Team
Saudi Arabia’s King Salman issued a number of royal decrees on Thursday regarding the Kingdom’s security governance, creating a new security authority and separating forces from the Ministry of the Interior, according to reports. The executive order creates a security authority known as the “The Presidency for State Security” linked with the Prime Minister’s Office, the […]
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Saudi Arabia Nears First Utility-Scale Wind Power Project
- July 17,2017
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- SUSTG Team
Saudi Arabia moved a step closer toward the construction of its first utility-scale wind-power project, according to reports. The energy ministry “asked potential bidders and plant developers to submit their qualifications to build the 400-megawatt plant at Dumat Al Jandal in the kingdom’s northwestern Al Jouf region,” Bloomberg reports, citing an emailed statement. “Companies will be able to […]
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Mohammed bin Salman Named Crown Prince, Next-in-Line to King; Prince Mohammed bin Nayef Deposed
- June 21,2017
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- SUSTG Team
King Salman of Saudi Arabia has named his son, Prince Mohammed bin Salman, as crown prince of Saudi Arabia, deposing his cousin Prince Mohammed bin Naif. The move makes Prince Mohammed next-in-line to be king. As Reuters and other news outlets are reporting, the promotion of the new Crown Prince is less surprising than the […]
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Saudi Foreign Minister Adel Al-Jubeir Meets with Secretary of State Rex Tillerson in Washington, Says ‘No Blockade’ of Qatar
- June 14,2017
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- SUSTG Team
Secretary of State Rex Tillerson met with his Saudi counterpart, Foreign Minister Adel Al-Jubeir in Washington yesterday to discuss the ongoing diplomatic situation in the GCC and other regional challenges. In brief remarks to reporters before the meeting, Foreign Minister Al-Jubeir said that there was no “blockade” of Qatar and that Saudi Arabia was exercising […]
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Senate Opposition to Sale of Precision-guided Munitions Grows
- June 13,2017
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- SUSTG Team
Senate Minority Leader Charles Schumer (D-N.Y.) is the latest U.S. senator to throw support behind a Sen. Rand Paul (R-Ken)-led push to block part of President Trump’s $110 billion arms sale to Saudi Arabia, according to reports. The senators who proposed the resolution to block the arms sale said that they expect a close vote. Sen. Sens. […]
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Oxford Business Group Launches OBG Business Barometer: Saudi Arabia CEO Survey
- June 9,2017
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- SUSTG Team
The Oxford Business Group (OBG) has launched a new research series that examines attitudes of top CEOs in Saudi Arabia. OBG, which publishes investment and economic reports on more than 30 countries including emerging markets in the Middle East, Asia, Latin America. “It’s not difficult to conclude that for the Gulf region’s largest economy the […]
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New Saudi Arms Manufacturer ‘SAMI’ Launched As Part of Vision 2030 Ahead of Trump Visit
- May 18,2017
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) announced on Wednesday the launch of a national state company for arms manufacturing as part of its Vision 2030 economic and social reform program, according to reports. The new company, the Saudi Arabian Military Industries (SAMI), will be producing not just arms but armored vehicles and will work to repair […]
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World’s Tallest Building Set for Saudi Arabia Delayed Again After Binladen Group Turmoil, Now Expected in 2019
- May 12,2017
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- SUSTG Team
Saudi Arabia’s under-construction Kingdom Tower Jeddah, set to be the world’s tallest building when finished, has been delayed until 2019, Prince Alwaleed bin Talal said at the building’s construction site yesterday. “The project was delayed… but it’ll open (in) 2019,” Prince Alwaleed said. Alwaleed is chairman of Kingdom Holding Company and consistently listed as the […]
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Saudi Arabia’s Vice Minister of Economy and Planning Mohammed Al Tuwaijri Gives Interview to Bloomberg News
- May 10,2017
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- SUSTG Team
Saudi Arabia’s powerful vice minister of economy and planning Mohammed Al Tuwaijri gave an interview to Bloomberg News on Tuesday and discussed the government’s borrowing plans, infrastructure spending and how the kingdom still intends to balance its budget by 2020. Al Tuwaijri, who is also head of the finance committee at Saudi Arabia’s powerful Council of Economic […]
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U.S., Saudis in Talks for New Defense Deals Worth Billions Ahead of Trump’s Visit, Sources Tell Reuters
- May 8,2017
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- SUSTG Team
Washington and Riyadh are working to boost military sales from the U.S. to Saudi Arabia for new and existing contracts worth “tens of billions of dollars” ahead of U.S. President Donald Trump’s trip to the kingdom this month, Reuters reports, citing several sources familiar with the talks. According to Reuters, “as planning for Trump’s trip to Saudi […]
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MUST-READS
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Arab BankJordan investors set to buy Arab Bank stake after Saudi bid fades
A Jordanian consortium has bid for Saudi Oger's 20 percent stake in Arab Bank Group after the family of Saudi Arabia's Fawaz Alhokair dropped its own $1.1 billion offer, banking sources told Reuters on Monday.
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Islamic Development BankSaudi’s Islamic Development Bank to offer $500 mn loan for TAPI project
Saudi Arabia-based Islamic Development Bank had agreed to provide USD 500 million loan to part-finance the USD 15 billion Turkmenistan-Afghanistan- Pakistan-India (TAPI) natural gas pipeline project.
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Saudi Arabian Monetary AuthoritySaudi central bank gets new name
Saudi Arabian Monetary Agency, the kingdom's central bank, has changed its name to Saudi Arabian Monetary Authority.
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SyriaFearing abandonment by Trump, CIA-backed rebels in Syria mull alternatives
Three years after the CIA began secretly shipping lethal aid to rebels fighting against Syrian President Bashar al-Assad, battlefield losses and fears that a Donald Trump administration will abandon them have left tens of thousands of opposition fighters weighing their alternatives.
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SoftBank Vision FundSaudi-backed $100bn SoftBank fund ‘oversubscribed’, says CEO
Japanese internet firm SoftBank is close to sealing a $100 billion technology fund it set up with Saudi Arabia’s sovereign wealth fund, the company’s CEO reportedly said.
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Jamal KhashoggiSaudi Arabia bans journalist from writing, media appearances after Trump remarks
“The author Jamal Khashoggi does not represent the government of Saudi Arabia or its positions at any level, and … his opinions only represent his personal views not that of the Kingdom of Saudi Arabia,” said a ministry source quoted by the Saudi Press Agency.
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EgyptEgypt is giant prison, activists banned from travel say
Azza Soliman was due to board a plane to attend a conference in Jordan when security officials at Cairo airport turned her away, saying a court order banned her from traveling.
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Saudi Foreign AidSaudi Arabia contributes US $67 million to UNRWA for projects in Gaza, the West Bank and Jordan – occupied Palestinian territory
The Kingdom of Saudi Arabia, through the Saudi Fund for Development (SFD), has contributed US$ 67 million for projects to be implemented in Gaza, the West Bank and Jordan.
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Alawwal BankSaudi Hollandi Bank rebrands to Alawwal Bank
Saudi Hollandi Bank on Sunday (Nov. 27) announced that it has rebranded its name to Alawwal Bank which means “first bank” in English.
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Aramco IPOPromise of $1bn fees from Saudi Aramco IPO has London bankers in a frenzy but greater transparency is the real prize
The stake sale is expected to amount to only 5 per cent of Aramco’s total shares, but even that would amount to US$100 billion, which is four times what China’s Alibaba raised two years ago.
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