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Recent stories from sustg
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Royal Decree May Ease a ‘$67B Housing Logjam’ in Saudi Arabia, Reuters Reports
- April 24,2013
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- Lucien Zeigler
Reuters is reporting that last week’s Royal Decree to tackle Saudi Arabia’s housing program has removed “an obstacle to a $67 billion program to ease the country’s housing shortage,” which “may push the program forward by opening up thousands of acres of state-owned land for construction.”
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Defense Secretary Hagel in Riyadh, Greeted by Saud al-Faisal and Amb James Smith
- April 23,2013
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- Lucien Zeigler
SUSRIS reports that US Defense Secretary Chuck Hagel arrived in Riyadh on Monday.
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PHOTOS: Riyadh Hit by Heavy Rains, Floods; Several Dead and Millions in Damage
- November 19,2013
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- Lucien Zeigler
The streets of the Saudi Arabian capital Riyadh were inundated with water after a rare rainstorm dumped two hours of rain onto the desert city, leaving at least four dead, many more missing, and millions in damage. Photos published on social media outlets and in the Saudi press show the extent of the damage to […]
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Private Sector in the Middle East Conference to Begin Tuesday in Riyadh at Council of Saudi Chambers
- December 2,2013
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- Lucien Zeigler
The Council of Saudi Chambers of Commerce and Industry will host a new conference, the Private Sector in the Middle East (PSMEC) in Riyadh on Tuesday, December 3rd, 2013.
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Saudi Arabia to Shift Weekend to Friday Start
- April 22,2013
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- SUSTG Team
Pending approval from the Council of Ministers, Saudi Arabia could soon join its GCC neighbors in establishing a Friday-Saturday weekend. Oman will officially shift its weekend beginning this May leaving only Saudi Arabia to make the transition. The current Thursday-Friday weekend has long been considered a drag on the Saudi economy and the Ministry of […]
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Suspect Journalism: The New York Post’s Shoddy Saudi Student Reporting
- April 18,2013
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- Lucien Zeigler
A Saudi student studying in the United States on the King Abdullah Scholarship Program was injured in the Boston Marathon bombing on Monday. The student was one of at least two Saudi nationals hospitalized as a result of the attack. One of the victim’s friends told Al Arabiya that an amputation was almost required but […]
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Should the U.N. Security Council have a Permanent Seat for Arab States?
- November 11,2013
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- SUSTG Team
In the wake of Saudi Arabia’s decision to turn down a non-permanent seat on the U.N. Security Council, Saudi Arabia’s Ambassador to the United Nations Abdallah Yahya A. Al-Mouallimi is calling for Arab states to be permanently represented on the U.N.’s most powerful body and for veto power to be eliminated.
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Ease of doing business: Saudi Arabia Drops 4 Slots to 26th Overall in World Bank Ranking for 2014
- October 29,2013
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- Lucien Zeigler
Saudi Arabia is second in the Middle East in the World Bank’s Ease of Doing Business report and 26th overall, according to the recently released 2014 report. The placement represents an overall drop of 4 slots in the coveted ranking since 2013, when the Kingdom was ranked 22nd overall.
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Saudi Arabia Sees Limited Impact from US Shale Oil While SABIC Eyes Gas
- April 14,2013
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- Lucien Zeigler
According to this report by Summer Said in the Wall Street Journal, a close advisor of Saudi Arabia’s Minster of Petroleum and Natural Resources Ali Al Naimi said that the production of oil from shale will be “too limited and costly” to make a significant impact on the interests of exporters, but that the so-called […]
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Photos of Saudi Arabia’s Impressive Pavilion at the Hannover Industrial Forum in Germany
- April 11,2013
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- Lucien Zeigler
Saudi Arabia’s presence at the Hannover Industrial Forum, which took place in Hannover, Germany this week, is worth seeing. The Kingdom constructed a massive pavilion to show off business opportunities in Saudi Arabia and provide a networking platform for visitors of the expo in Hannover, Germany.
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MUST-READS
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AfghanistanAfghan sources say Taliban leader Mullah Omar is ‘dead’
The Afghan government said it is investigating reports regarding the death of Taliban leader Mullah Omar.
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Jonathan PollardDoes Israeli Spy Jonathan Pollard Have $1 Million Waiting in a Swiss Bank Account?
If past reports are true, convicted spy Jonathan Pollard could have about $1 million waiting for him in a Swiss bank account when he is released from federal prison on parole in November. Pollard, whose release was announced on Tuesday, has served nearly 30 years for supplying the Israeli government with classified U.S. intelligence documents.
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LaborInspectors find 250 laborers working during banned hours
The Ministry of Labor in the Makkah region found 250 laborers working on various construction projects during restricted hours of the day. Punitive measures will be taken against the employers of these workers.
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Islamic BankingMiddle East Economics – Islamic Banking
If you’re interested in investment products screened for social concerns, the quickly growing Islamic financial sector may be for you. Growing at a rate 50% faster than conventional banking, current estimates value the Islamic financial market at nearly $3 trillion and project that it could increase to $5 trillion by 2016.
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Saudi-LebanonSaudi King Salman meets head of Lebanese forces Geagea
Saudi Arabia’s King Salman bin Abdulaziz received Lebanese Forces Party's leader Samir Geagea in Jeddah, the Saudi Press Agency reported Sunday.
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Ramadan TraditionsIn Jordan, drum bangs slowly for a fading Ramadan tradition
Alarm clock, Santa Claus, and street performer all wrapped up in one, the singing musaharati has long captured the imaginations and affection of generations of young Jordanians.
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LebanonSaudi, US Aid Boost Lebanese Firepower
Military aid provided by Saudi Arabia and the United States has boosted the firepower of the Lebanese Armed Forces (LAF) by about 30 to 40 percent in recent years, analysts said.
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Saudi Stock MarketOil Bounce Lifts Saudi Stocks as Biggest Bank Profit Outperforms
Equities in the world’s largest oil exporter ended a three-week rout prompted by the slide in crude, risks that Greece will exit the European currency union and a drop in Chinese stocks. The rise in oil helps lessen the burden on Saudi Arabia’s budget, which relies on the commodity for 90 percent of revenue. Analysts polled by Bloomberg expect economic growth will drop to 2.8 percent this year, the second-slowest pace since 2009.
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Personal BankingSaudi banks raise purchase maximum on ATM card to approximately $16,000
Speaking to Okaz/Saudi Gazette, sources at local banks said this is a positive step as it enables customers to make purchase of precious goods or bulk purchase by using their bank cards.
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AfghanistanAfghan, Taliban officials end peace talks, agree to meet again
Less than 24 hours after they were announced, direct talks between the Afghan government and the Taliban concluded Wednesday with both parties agreeing to meet again after the holy month of Ramadan, according to officials in the host nation, Pakistan.
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