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Recent stories from sustg
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Prospects for Saudi Arabia hitting 2030 Renewable Energy Targets
In 2016 Saudi Arabia’s Vision 2030 had an initial target of deploying 9.5GW of green energy by 2030. The latest revision made in 2023 targets 130GW of renewable power capacity by 2030. GlobalData, a leading data and analytics company, says the Kingdom can come close to that target.
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Saudi Arabia Moves Closer to $1 Billion stake in a Pakistani mine – Report
Saudi Arabia is moving closer to a potential deal to acquire a minority stake in a Pakistan mine controlled by Barrick Gold Corp., people with knowledge of the matter told Bloomberg.
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Saudi Arabia Fares Well in 2024 Kearney FDI Confidence Index
Ongoing economic and business-related reforms helped the United Arab Emirates and Saudi Arabia post the biggest jumps in Kearney’s 2024 Foreign Direct Investment Confidence Index. The countries climbed ten spots from 2023, to eighth for the UAE and 14th for Saudi Arabia.
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Saudi defense minister receives phone call from US counterpart; Kingdom denies role in shooting down Iranian attack
Saudi Minister of Defense Prince Khalid bin Salman received on Sunday a phone call from U.S. Secretary of Defense Lloyd Austin, according to reports.
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Dr. William Greene, CIO of the Hevolution Foundation, joins The 966 to talk latest investments, strategy for Hevolution
William Greene, MD, Chief Investment Officer (CIO) of the Hevolution Foundation, joins The 966 to talk about Hevolution’s investment strategy and role as an investor in the emerging field of Healthspan Science. As CIO, Dr. Greene oversees all aspects of Hevolution Foundation’s investment strategy, planning, analysis, and execution.
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Halo Space to test Balloon Flight from Saudi
Spanish company Halo Space is in talks with Saudi regulators to set up a base in the kingdom for balloon flights into space. Ongoing tests are planned for Saudi Arabia this summer.
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Saudi Arabia Gets First Cannes Official Selection Slot With Drama ‘Norah’
Saudi Arabia has landed its first film in the Cannes Film Festival official selection with “Norah,” a drama by pioneering director Tawfik Alzaidi set in 1990s Saudi, according to reports.
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MBS’ True Legacy
Writing in Al-Arabiya, Richard Wilson, SUSTG president and The 966 Co-host, points out the fundamental (rather than flashy) changes that represent Crown Prince Mohammed Bin Salman’s true legacy.
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U.S. Ambassador Michael Ratney joins The 966 for a truly informative Episode #127
U.S. Ambassador Michael Ratney shares his insights with The 966 in a wide-ranging conversation with Richard Wilson. Just over one year in his position, Amb. Ratney offers his perspective on change in Saudi Arabia and an evolving U.S.-Saudi relationship.
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Eid Mubarak 2024
Wishing all peace and serenity on this blessed occasion.
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MUST-READS
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A Saudi-Iran reconciliation may not end the war in Yemen just yet
Several scenarios have been floated about what a post-war Yemen may look like. The STC wants to see Yemen return to the pre-1990 situation when the country was split into North Yemen and South Yemen, it told CNN. The Houthis reject the prospects of a split, even into a confederation, and have insisted on a unified Yemen where they control the capital. That scenario is not one that Saudi Arabia and the UAE are likely to accept and it could even draw them back into the war, analysts say.
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A Saudi-Iran reconciliation may not end the war in Yemen just yet
A surprise agreement by regional archenemies Saudi Arabia and Iran this month has raised hopes that the Saudi war in Yemen may come to an end, after more than seven years of hostilities that saw tens of thousands of civilians killed or injured and the country left in ruins. But experts warn that even if Saudi Arabia agrees to end military operations, the war in the country would be far from over – and could get even more fierce. It started as a civil conflict between Yemeni factions and turned into a full-blown war in 2015 when a Saudi-led coalition intervened militarily to support the embattled government there. But it eventually became a proxy war between Iran – which has been accused of arming the Houthis – and Saudi Arabia, and the main arena for their competition for regional influence.
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War-weary Yemenis greet Saudi-Iran deal with caution
On Monday, the Yemeni government and the Houthis announced that they had agreed upon a prisoner swap that would also include the release of 15 captured Saudis. It was not immediately clear whether the timing of the announcement was coincidental or not, but questions remained over any other confidence-building measures on the back of the Beijing deal.
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Analysis: Frustrated Khamenei pushed for Saudi-Iran deal clinched in China
Eager to end its political and economic isolation, Iran had been trying for two years to restore ties with its long-time rival Saudi Arabia, an Arab heavyweight and oil powerhouse. Last September, Iran's Supreme Leader Ayatollah Ali Khamenei lost patience with the slow pace of bilateral talks and summoned his team to discuss ways to accelerate the process, which led to China's involvement, two Iranian officials told Reuters.
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Does China’s role in Saudi-Iran rapprochement represent a new order?
“I think the leadership there believes that this is a very important moment for Saudi Arabia as it emerges ... as a real leader in the world on many issues,” Westphal told CNBC’s Dan Murphy on Tuesday. “A constant struggle with Iran delays that and impedes the progress that they made.”
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Renewed Saudi-Iran ties force new calculations in Mideast
“The U.S. government is of two minds” on the Saudis seeking out new partners, Alterman said on the center’s website. “It wants the Saudis to take increasing responsibility for their own security, but it does not want Saudi Arabia freelancing and undermining U.S. security strategies.”
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How China’s Saudi-Iran Deal Can Serve US Interests
Dig a little deeper, however, and the sky is not falling for Washington. On the contrary, while the deal may have temporarily damaged some of the United States’ interests in the region, the upside could significantly outweigh the downside, in both the short and the long terms.
- The Guardian - The Guardian view on Iran and Saudi Arabia: a cautious start
- Al-Arabiya - US rejects notion it is disengaged from Middle East after Saudi-Iran deal
- Barron's - Saudi Arabia and Iran Are Creating a New Regional Equilibrium. What It Means for Oil Markets.
- WSJ - Saudi Crown Prince Test Drives Nonaligned Foreign Policy
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Will The Saudi-Iranian Diplomatic Deal Bring Oil Prices Down?
While increasing Iranian oil exports are likely to cause jitters in delicately-balanced oil markets, it’s unlikely that the trend is going to be sustainable without the country agreeing to a new nuclear deal and the U.S. lifting sanctions. Currently, prospects of reviving the Iran nuclear deal have swung dramatically, from near certain in March 2022 to almost nil currently, with talks hitting yet another stalemate in September. Meanwhile, exchanges on a compromise text are still falling short of satisfying all the involved parties.
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Saudi-Iranian Normalization: Changes in Regional Dynamics
Saudi Arabia acknowledged that while this agreement was promising, not all of the differences between the two countries would be immediately resolved. Cited in the Saudi Gazette, the Kingdom’s Foreign Minister Prince Faisal bin Farhan stated: “Saudi Arabia’s agreement with Iran to restore diplomatic ties does not mean that both countries have reached a solution to all disputes between them. He emphasized that the Saudi-Iranian agreement to restore diplomatic relations underscores the joint desire by both sides to ‘resolve disputes through communication and dialogue’...Prince Faisal reaffirmed that Saudi Arabia is forging ahead in the path of de-escalation it has chosen because of its sense of responsibility in bolstering regional and international security and stability.”
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A Saudi-Iran reconciliation may ripple across the region. Here’s why
Saudi Arabia and Iran have given each other just two months to prove they are serious about Friday’s surprise agreement to normalize ties. Before ambassadors are reinstated, the two nations are likely to be discussing ways to end almost seven years of hostility, a large task given how far-reaching the implications could be. The reconciliation happens as Iran finds itself increasingly isolated on the world stage and Saudi Arabia changes the course of its foreign policy in favor of diplomacy instead of confrontation.
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