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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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U.S. - IraqIslamic State advances near Iraq base where U.S. advisers are stationed
Anbar’s provincial council called for “immediate and urgent military reinforcements” after the attack on the town of al-Baghdadi, which began in the early morning. Ayn al-Asad air base — where some 320 U.S. personnel have been training Iraqi troops and tribal fighters — lies five miles west of the town.
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U.S.-AfghanistanAs the U.S. mission winds down, Afghan insurgency grows more complex
As the United States reshapes its military footprint in Afghanistan, the Taliban is transforming into a patchwork of forces with often conflicting ideals and motivations, looking less like the ultra-religious movement it started out as in the mid-1990s. The fragmentation may suggest the movement is weakening, but it is forcing Afghanistan’s government to confront an insurgency that is becoming increasingly diverse, scattered — and more lethal.
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Defense SpendingChart: U.S. defense spending still dwarfs the rest of the world
America has long been a military behemoth, but some of the other big spenders in the report, which was released Wednesday, might be more surprising. China, a clear geopolitical rival to the United States, is second on the list, its military spending far higher than any potential rivals in East Asia. Saudi Arabia, an important U.S. ally, is next on the list, it's defense budget bolstered by ongoing fears about the Islamic State and the need for regional stability.
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Global Oil MarketsGame Change: U.S. Oil Revolution Has Torn Up the Rule Book
In its annual five-year oil market outlook, the IEA, which is the energy agency of the Organization for Economic Cooperation and Development (OECD), said that the rise of the United States as a heavyweight crude producer, OPEC’s abdication of its historical role as the arbiter of world oil supply, and sluggish oil demand growth worldwide will have big implications for oil producing and consuming countries alike.
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9/11 ReportU.S. considers declassifying report on Saudi funding of al Qaeda
White House spokesman Josh Earnest told reporters that following a congressional request last year the intelligence community was undertaking a review of the decision to classify the secret section. He did not say when it might be completed.
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U.S. Exports to the Arab World up slightly over past year
U.S. exports to the MENA region showed mixed results, with the two largest destinations for U.S. goods – the United Arab Emirates and the Kingdom of Saudi Arabia – down ten percent and one percent, respectively. Conversely, among some other major economies in the region, sales were up sharply, led by Algeria (up 43 percent), Kuwait (up 41 percent), Oman (up 28 percent), Lebanon (up 25 percent), and Egypt (up 25 percent). The biggest percentage increase in the region took place in Somalia, where U.S. exports jumped 121 percent, from $16 million in 2013 to $35 million in 2014.
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U.S. Military SpendingAs U.S. faces new threats, Pentagon seeks bigger defense budget
Facing new security challenges in the Middle East and Ukraine, the Obama administration on Monday proposed a $534 billion Pentagon base budget plus $51 billion in war funds as it urged Congress to end spending cuts it says erode U.S. military power.
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Iran NegotiationsOpinion: Iran’s leaders wonder who’s really in charge in U.S. They may be surprised.
Obama has succeeded in changing the underlying politics of the matter. The debate over Iran sanctions is no longer about Iran, but about war with Iran. Diplomacy with Iran is the best way of avoiding both a nuclear Iran, and bombing Iran. Any measure that undermines diplomacy, such as new sanctions, automatically enhances the risk of war. Passing sanctions on Iran used to be the safest political move in Congress. But today, imposing sanctions means supporting war, which is a move that carries a tremendous political cost. So high that Hillary Clinton chose to come out against AIPAC and Netanyahu instead.
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OilFactors that will drive U.S. oil production in 2015: Kemp
U.S. oil production "reflects more than just the rig count," as EIA emphasised in a research note published on Monday analysing the combined effect of all the factors known to affect output. The note is essential reading for anyone trying to understand the likely production trend in 2015.
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Global Oil MarketsOil tumbles; U.S. crude prices near six-year low on record stockpiles
Oil slumped on Wednesday, with U.S. crude prices at near six-year lows, after the government reported record-high inventories in the United States that raised anxieties about the global oil glut that had pressured the market since last summer. The U.S. Energy Information Administration (EIA) said domestic crude oil stocks rose by almost 9 million barrels last week to reach nearly 407 million, their highest since the government began keeping records in 1982.
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