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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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Saudi-IndiaSaudi Plan To Get Stake In India’s Largest Company Hits A Snag
Discussions between India’s largest company, Reliance Industries, and Aramco, the world’s single biggest oil producing firm, have hit a stumbling block as the Indians want higher valuation than the Saudis are willing to pay for a stake in Reliance’s downstream business, Reuters reported on Tuesday, quoting two people with knowledge of the issue.
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IndiaIndia denies that Trump was invited to mediate Kashmir conflict
Raveesh Kumar, spokesman for India's Ministry of External Affairs, tweeted late Monday that "no such request has been made" by Indian Prime Minister Narendra Modi. Kumar also reiterated that the territorial dispute needs to be resolved bilaterally between India and Pakistan, who have been bitter rivals for decades.
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PakistanPakistan ordered to review death sentence of Indian accused of spying
he International Court of Justice (ICJ) has ordered Pakistan to review and reconsider a death sentence handed down to a former Indian Navy officer convicted of spying. In a ruling Wednesday, the United Nations' top court found Pakistan authorities broke international law by not informing Kulbhushan Jadhav of his rights and depriving the Indian government of consular access.
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WomenIndia’s Women Warriors
Millions of pilgrims from across India flock to one of the country's most sacred Hindu shrines every year. But Sabarimala Temple has long been off-limits to almost half the world's population. Women aged between 10 and 50 are considered impure by the hardline Hindu men who come to the temple to worship.
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IndiaWhy Is India Trying to Kill Off Hedge Funds?
That industry is domestic hedge funds, which have taken seven years to reach $6 billion in investment commitments from nothing. By contrast, equity investment in India by overseas financial investors is upward of $400 billion.
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IndiaIndia claims its Aadhaar push is for the ‘good’ of people despite serious privacy concerns
Last year, India’s top court ruled that the central government’s national identification system – Aadhaar – doesn’t violate the privacy of citizens. Now, there are three major developments on this front that might put privacy activists on high alert. First, India’s parliament passed an amended bill on Aadhaar that allows voluntary use of the ID to open a bank account or get a SIM card and penalty for any private company if it stores Aadhaar data – a step to curb frequent data leaks.
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Oil MarketsIran sanctions: Indian Oil is stepping up imports of US and Saudi crude
US sanctions have forced a leading purchaser of Iranian crude exports to buy more oil from Saudi Arabia and the United States. Sanjiv Singh, head of state-run refiner Indian Oil Corporation, told CNN Business that "whatever supplies were coming from Iran, they were well distributed amongst other countries."
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IranFilling Iran oil gap in India: U.S. supplies outshine Middle East crude
A surge in India’s oil imports from the United States outpaced growth in shipments from its traditional suppliers in the Middle East, after Washington imposed sanctions on Tehran in November, according to tanker arrival data obtained from sources.
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IndiaIndia sending warships to the Middle East to protect shipping
INS Chennai, a 7,500-ton, 534-foot-long guided-missile destroyer, is one of the newest and most powerful ships in the Indian Navy. Commissioned in 2106, it carries surface-to-surface and surface-to-air missiles as well as rocket launchers and torpedoes, the Indian Navy says.
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Global PopulationIndia to overtake China as the world’s most populous country: UN
By 2050, the report predicts the planet's entire population will be 9.7 billion people, a staggering rise in just one century. Five years after the founding of the UN in 1950, the global population was a mere 2.6 billion people.
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