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Recent stories from sustg
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Saudi Arabia signs $533m deals with Africa; PIF Plans Investment Announcements – Reports
- November 9,2023
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- SUSTG Team
Saudi Arabia signed over SR2 billion ($533 million) worth of agreements with African countries during a special conference in a “significant boost to the Kingdom’s ties with the continent,” according to reports.
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Saudi Arabia’s PIF Invests $100 Million in the US-based Professional Fighters League Mixed Martial Arts
- August 30,2023
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- SUSTG Team
Saudi Arabia’s Public Investment Fund, using a new investment vehicle, will reportedly make the Kingdom’s first foray into mixed martial arts (MMA) by investing $100 million in the US’s Professional Fighters League and creating a regional tournament, the Financial Times reports.
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Growing Saudi female sports participation triggers retail growth
- May 16,2024
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- SUSTG Team
Writing for Jing Daily, Julienna Law reports that Saudi Arabia’s sportswear and athleisure apparel market is set to boom as women, in particular, become more active in sports.
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Saudi Stock Market Lists 400th Security
- April 3,2024
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- SUSTG Team
Formally established in 2007 after the devastating market crash of 2006 and incorporated as a holding company in 2021, the Saudi stock market (Tadawul) recently hit a milestone of 400 listed securities.
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Fitch Affirms Saudi Arabia at ‘A+’ with Outlook Stable
- February 6,2024
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- SUSTG Team
Fitch Ratings has affirmed Saudi Arabia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘A+’ with a Stable Outlook, the ratings agency said. “Saudi Arabia’s ratings reflect its strong fiscal and external balance sheets, with government debt/GDP and sovereign net foreign assets (SNFA) considerably stronger than both the ‘A’ and ‘AA’ medians, and significant fiscal buffers […]
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The Saudi economy and government spending with former IMF Country Head for Saudi Arabia Tim Callen, big announcements from The 966, and much more…
- November 10,2023
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- SUSTG Team
Tim Callen, ex-IMF Mission Chief to Saudi Arabia and Visiting Fellow at AGSIW, joins The 966 to discuss Saudi Arabia’s budget, government spending, and more. Tim’s most recent piece for AGSIW discusses how increased spending in Saudi Arabia raises risks to the Saudi budget. The hosts take advantage of Tim’s extensive experience and vast knowledge on how […]
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New Murabba Development Company Awards Industry-Leader Bechtel with PMC Contract for Masterplan, Site-Wide Infrastructure
- August 29,2023
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- SUSTG Team
The Saudi-based, PIF-owned New Murabba Development Company has announced that Bechtel, the leading engineering and construction company, has been awarded a key contract to provide project management services for the New Murabba development in the capital Riyadh.
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Saudi Entertainment Ventures (Seven) and Qiddiya Combine
- May 15,2024
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- SUSTG Team
Seven, a wholly owned public investment fund (PIF) company, has now become a wholly owned subsidiary of Qiddiya to enhance the offerings of both companies and support its wider strategy for the entertainment, leisure and sports sector.
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Saudi Arabia’s non-oil business activity grows robustly in March, PMI shows
- April 3,2024
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- SUSTG Team
Strong demand helped drive non-oil business activity in Saudi Arabia in March, Reuters reports, with output accelerating to a six-month high.
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2nd PIF Private Sector Forum Concludes; Expands Private Sector Interaction with PIF Portfolio Companies
- February 7,2024
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- SUSTG Team
Saudi Arabia concluded its second edition of the “PIF Private Sector Forum” in Riyadh, an event that brought together stakeholders from the PIF and its portfolio companies to engage directly with private sector companies at the King Abdulaziz International Convention Center in Riyadh.
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MUST-READS
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Dubai 24 HoursSaudi Hankook Racing Team wins Dubai 24 Hours Endurance Race
Saudi motorsport got off to a rousing 2017 season start after Saeed Almouri led the Saudi Hankook Racing Team to victory in the Hankook 24 Hours Endurance Race held over the weekend at Dubai Autodrome
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UAEDubai is No. 1 airport for international passengers
DUBAI International has retained its title as the world’s No. 1 airport for international passengers after near record numbers in December propelled the hub’s annual traffic to 83.6 million passengers in 2016, according to the annual traffic report issued by operator Dubai Airports today.
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Donald TrumpTrump ‘turns down’ Damac’s $2bn deals in Dubai
US President-elect Donald Trump has said he has 'turned down' $2bn worth of deals offered to the Trump Organization by Dubai-based luxury developer Damac Properties.
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Tower at Dubai Creek Harbour joins race to be world’s tallest building
The race to the top has just gotten tighter, with two rising mega-towers in the Middle East battling to become the world's tallest.
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Souq.comAmazon in Talks to Buy Dubai’s Souq.com in $1 Billion Deal
Amazon.com Inc. is in talks to acquire Dubai-based online retailer Souq.com FZ for about $1 billion in a deal that will give the e-commerce giant a footprint in the high-growth Middle East market, according to people familiar with the matter.
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Saudi-U.A.E.Saudi developer Cayan picks Rotana to run Dubai project
Saudi developer Cayan Group has announced the appointment of Rotana Hotel Management as the operator for the Cayan Arjaan Hotel Apartments project in Dubai.
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E-CommerceDubai, Saudi to launch USD 1-billion e-commerce site
Noon.com is to go online in January with a 50-per cent investment from the kingdom's Public Investment Fund and the rest from around 60 investors led by Alabbar, who heads the emirate's real estate giant Emaar.
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AmericanaDubai group completes $2.4 billion purchase of Kuwait food firm
A Dubai-based investor group led by the head of property giant Emaar on Thursday completed the nearly $2.4 billion acquisition of a majority stake in Kuwaiti food company Americana, Kuwait's stock exchange said.
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Destination CitiesDubai Ranks as Middle East’s Top Destination City
Michael Miebach, chief product officer at MasterCard, discusses the company's annual destination cities index which has ranked Dubai as the top destination city in the Middle East
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DubaiDubai’s ruler orders management shake-up after absences
Dubai's ruler has ordered a shake-up of the city state's management, including the retirement of nine senior officials, a day after he conducted a surprise spot check of government offices and found a significant number of employees absent.
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