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Despite Downturn, Half in New Poll Expect Saudi Economy to Improve
- October 11,2016
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- SUSTG Team
With tough economic decisions at hand and the price of oil at a tipping point, where is the Saudi economy heading? In a recent poll conducted by Bayt.com and YouGov, 50% of respondents in Saudi Arabia expect business conditions to improve in one year, and 40% believe things will improve in the next six months. […]
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Deadly Coalition Missile Attack on Funeral in Yemen Draws International Condemnation, Prompts U.S. Review of Support
- October 10,2016
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- Lucien Zeigler
The ongoing conflict in Yemen was further inflamed this weekend after a missile attack on a funeral hall killed over 160 civilians, sparking outrage across the war-torn country. Yemeni officials and witnesses are blaming the Saudi-led coalition fighting in Yemen for the attack, which threatens to significantly alter the war’s course. The coalition initially denied […]
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Video: Paramotoring in Saudi Arabia’s Qassim Desert
- October 7,2016
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- SUSTG Team
A recently released report and video by Reuters highlights the start and growth of a “paramotoring” club in the Qassim Desert in Saudi Arabia as “a hobby, curiosity, a change.” Paramotoring, also referred to as powered paragliding, involves the use of a motor driving propeller that is worn on one’s back. The motor can be stopped and started in […]
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Jadwa Investment Revises Saudi GDP Down to 1.1%
- October 6,2016
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- SUSTG Team
The latest quarterly GDP update on the Saudi economy from Jadwa Investment finds year-on-year growth continued to slow for the fourth consecutive quarter, “mainly owing to a deceleration in annual GDP growth for both the oil sector and the non-oil private sector.” However, in real terms, the Saudi economy was 1.4 percent larger in the second quarter […]
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Top Saudi Investment Officials in New York for Two-Day JPMorgan Chase Event
- October 4,2016
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- SUSTG Team
Saudi Capital Market Authority Chairman Mohammed Al-Jadaan and Tadawul stock exchange Chief Executive Officer Khalid Al Hussan are among officials attending a two-day event in New York City this week organized by JPMorgan Chase & Co., Bloomberg reports. According to Bloomberg, senior representatives of the kingdom’s economy ministry and central bank will also be present. The […]
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Opposition to JASTA ‘Bubbles’ but Override Still Likely after White House Veto on Friday
- September 26,2016
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- SUSTG Team
President Obama vetoed the Justice Against Sponsors of Terrorism Act (JASTA) on Friday, setting up an expected showdown with Congress over the controversial bill that would open up foreign nations to lawsuits in the United States. In a thoughtful letter to Congress attached to the veto, President Obama says that while he has deep sympathy […]
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White House Lobbies Senate on JASTA, Works Toward 34 Votes to Prevent Veto Override
- September 21,2016
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- Lucien Zeigler
Some Senate Democrats on Capitol Hill continue to consider their votes on the Justice Against Sponsors of Terrorism Act (JASTA) and, according to some reports, are “starting to show cracks in their support” of the legislation after efforts by the Obama administration to convey the risk of the bill’s potential international relations fallout. JASTA, which would expand […]
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Al-Jubeir in Wall Street Journal: ‘Iran Can’t Whitewash Its Record of Terror’
- September 19,2016
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- SUSTG Team
Saudi Foreign Minister Adel Al-Jubeir blasted his Iranian counterpart in a new op-ed published by the Wall Street Journal, saying that Iran cannot “whitewash its record of terror.” “The fact is that Iran is the leading state-sponsor of terrorism, with government officials directly responsible for numerous terrorist attacks since 1979. These include suicide bombings of the U.S. […]
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Houthi Rebels Claim Capture of Post Inside Saudi Border
- September 15,2016
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- Lucien Zeigler
Officials from Yemen’s Shiite Houthi militia say their fighters and allied troops have captured a Saudi military post in the border region of Jazan, according to reports. According to a report in the Associated Press, the claim has been denied by a Saudi military spokesman. However, a 15-minute video clip posted on social media networks and aired late […]
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15 Year-Old Saudi Girl Proposes First ‘Hijab Emoji’
- September 14,2016
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- SUSTG Team
Rayouf Alhumedhi, a Saudi-born teenager currently living in Germany is the lead author on a new proposal for a hijab emoji to the Unicode Consortium, the nonprofit that governs the creation and approval of emoji. Emojis are popular small images that are available on mobile and desktop keyboards that are increasingly adding to, and even replacing, […]
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MUST-READS
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LebanonHariri confirms support for Aoun bid to be Lebanon’s president
Lebanon's former prime minister, Saad al-Hariri, on Thursday backed Michel Aoun, his former political foe and an ally of Hezbollah, to become the country’s president in a move which could help resolve the country's political deadlock.
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Softbank-PIF Tech FundThe $100bn marriage: How SoftBank’s Son courted a Saudi prince
Not for the first time in his career, a problem of resources was preventing Masayoshi Son, the billionaire Japanese technology investor, from realising his ambitions.
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Galaxy Note 7Galaxy Note 7 is officially banned in Saudi Arabia
The ministry announced in a tweet in its official account in Twitter a warning, stating that: “anyone who owns a Galaxy Note 7 is advised to immediately stop using it and return it the agents where they will retrieve their money.”
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Bankruptcy LawsSaudi Arabia plans to overhaul its bankruptcy laws
The government of Saudi Arabia plans to overhaul its bankruptcy laws and has held a series of workshops to seek public views on proposed changes.
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Saudi OgerSaudi Oger seeking buyers for $1 billion Arab Bank stake
Saudi Oger has begun talks with potential buyers for its 20.93 percent stake in Arab Bank in a deal that could raise about $1 billion for the embattled construction giant, sources aware of the matter told Reuters.
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Technology InvestingSaudi Arabia, SoftBank aim to be world’s No. 1 tech investor with $100 billion fund
"Over the next decade, the SoftBank Vision Fund will be the biggest investor in the technology sector," SoftBank Chairman Masayoshi Son said in a statement.
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Saudi Hollandi BankSaudi Hollandi Bank to meet shareholders on possible name change
Industry sources familiar with the matter told Reuters that the name could be changed to First Saudi Bank under a rebranding.
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Banking and FinanceSaudi Hollandi Bank to meet shareholders on possible name change
Saudi Hollandi Bank said on Wednesday it would meet with shareholders on Oct. 31 to discuss changing the name of the kingdom's oldest lender.
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OPEC Oil OutputBig Banks Diverge on OPEC Effect
Goldman or Citi: Who ya got? The banking big boys of commodity research are coming down on opposite sides of the street on OPEC’s move toward cutting output.
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Saudi StocksSaudi Banks Attract Bargain Hunters
The Saudi price to book ratio for a stock index for 12 lenders is now at the lowest level since Bloomberg started tracking the data in 2006. So, what's behind the selloff and what kind of money can be made in this trade? Bloomberg's Filipe Pacheco reports on "Bloomberg Markets: Middle East."
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