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Aging Population, Pension System May Pressure Saudi Fiscal Policy, S&P Says
- July 11,2016
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- SUSTG Team
Saudi Arabia’s population could put greater pressure on the Kingdom’s fiscal policy and increase government debt as it ages over the next three decades, ratings agency Standard & Poor’s has warned. Saudi Arabia’s population is disproportionately young now, with over 70% of all Saudis under 30 years old. But even the smaller percentage of the population […]
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Jadwa Investment: A Turn to Positive for Saudi Economic Data in July 2016 Economic Chartbook
- July 1,2016
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- SUSTG Team
Jadwa Investment’s recently released July 2016 Chartbook reveals economic data for Saudi Arabia trending toward the positive for the month of May, citing data on ATM withdrawals and point-of-sales transactions showing seasonal increases. Cement sales and PMI data also showed a slight acceleration in activity. The government also has reversed the months-long decline in assets at […]
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‘Very Good News’ for Saudi Real Estate as Kingdom Gets Boost in Transparency Ranking, Citing Chambers of Commerce
- June 30,2016
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- Lucien Zeigler
JLL and LaSalle Investment Management’s 2016 Global Real Estate Transparency Index (GRETI) has increased Saudi Arabia’s standing to “Semi-Transparent” after recent efforts by the Chambers of Commerce in Saudi Arabia. “The formation of real estate committees in the Chambers of Commerce has highlighted the issue of low transparency in the market and encouraged more action […]
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Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman Receives Praise on Capitol Hill in Washington for Ambitious Economic Reforms
- June 16,2016
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- Lucien Zeigler
Deputy Crown Prince Mohammed bin Salman visited congressional leaders in Washington on Wednesday to discuss diplomatic and regional issues and talk about Saudi Arabia’s new economic reforms. Prince Mohammed met with Sen. Tom Cotton (R-Arkansas) along with the Senate Armed Services Committee, including Sen. John McCain (R-Arizona) and Sen. Lindsey Graham (R-South Carolina) as well as […]
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Uber Scores the Largest Single Investment Ever Made in a Private Company from Saudi Arabia’s Public Investment Fund; Snags $3.5b
- June 2,2016
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- SUSTG Team
In what is being called the largest single cash investment ever made into a private company, Saudi Arabia’s Public Investment Fund (PIF) has invested $3.5 billion for 5% of the on-demand car service Uber. The investment is the first of likely many more investments into technology as Saudi Arabia looks to act on its ‘Vision 2030’ […]
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Comprehensive Document Outlining Saudi Arabia’s Counterterrorism Strategy, Successes Released
- May 26,2016
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- Lucien Zeigler
The Embassy of Saudi Arabia in Washington has distributed a comprehensive document outlining the Kingdom’s efforts to fight terrorism. The detailed publication was distributed to Congress as debate regarding the September 11, 2001 terrorist attacks heat up following the recent unanimous Senate vote to pass the Justice Against Sponsors of Terrorism Act (JASTA) bill. The Kingdom […]
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Mine Kills Saudi Border Guard, Wounds Three Others on Yemen Border as Peace Talks Flail
- May 24,2016
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- SUSTG Team
A Saudi border guard was killed and three others were wounded by a land mine that exploded while on patrol alongside the border with Yemen on Monday, according to reports. According to the Saudi Press Agency, the blast injured the soldiers in Saudi Arabia’s southern Jazan Province on the border with Yemen. Reuters reports that it was not immediately […]
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G.E. Jumps Into Saudi Economic Reforms with $1.4b in Deals, Doubled Workforce
- May 23,2016
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- SUSTG Team
General Electric (G.E.) has won a series of deals in Saudi Arabia worth $1.4 billion and said it would double its workforce in the Kingdom from 2,000 to 4,000 by 2020, according to reports. The deals amount to “support” for Saudi Arabia’s “Vision 2030” reform plan, according to Reuters, and were announced by the company’s […]
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Responding to Bloomberg Freedom of Information Act Request, U.S. Treasury Reveals How Much U.S. Debt is Held by Saudi Arabia
- May 17,2016
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- SUSTG Team
The U.S. Treasury Department revealed for the first time ever how much debt Saudi Arabia is holding, breaking an unusual and longstanding policy of secrecy regarding how much the Kingdom holds. Saudi Arabia held $116.8 billion in U.S. debt at the end of March. That is down 6% from its highest level in January 2016. Bloomberg first reported the […]
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Saudi General’s New Warning on Yemen’s Capital Underscores Importance of Latest U.N.-Backed Peace Talks
- May 12,2016
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- SUSTG Team
The Saudi-led coalition will fight to regain Yemen’s capital city from Houthi rebels if current peace talks backed by the United Nations collapse, according to Saudi Arabia’s Brigadier General Ahmed Asseri, who has been the official spokesman for the Saudi military during the conflict. The threat underscores the importance to Saudi Arabia of bringing a lasting solution to […]
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Saudi Arabia firmly rejects extremist Israeli statements on displacing Palestinians
The Saudi Council of Ministers reiterated its firm rejection of extremist Israeli statements regarding the displacement of the Palestinian people. Crown Prince and Prime Minister Mohammed bin Salman chaired the Cabinet session in Riyadh on Tuesday. In a statement to the Saudi Press Agency following the session, Minister of Media Salman Al-Dossary said that the Cabinet, while discussing the latest regional and international developments, reaffirmed the centrality of the Palestinian cause to Saudi Arabia and stressed that lasting peace can only be achieved through the acceptance of peaceful coexistence based on a two-state solution.
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No alcohol at 2034 World Cup, says Saudi ambassador
No alcohol will be allowed at the 2034 World Cup in Saudi Arabia, says the country's ambassador to the United Kingdom. In an interview on LBC, Prince Khalid bin Bandar Al Saud said alcohol would not be sold anywhere during the tournament, including hotels. "At the moment, we don't allow alcohol," Prince Khalid told LBC., external "Plenty of fun can be had without alcohol - it's not 100% necessary and if you want to drink after you leave, you're welcome to, but at the moment we don't have alcohol." Asked whether that meant fans would be able to drink once they returned their hotels, as was the case at the 2022 World Cup in Qatar, he added: "No, there is no alcohol at all."
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Trump poised to attend Saudi-backed conference in Miami in February, sources say
U.S. President Donald Trump is scheduled to attend a meeting of global financiers and tech executives hosted by Saudi Arabia's sovereign wealth fund in Miami later in February, according to several people with knowledge of the event. Trump's participation would come after Saudi Arabia condemned his call to displace Palestinians from Gaza as part of a U.S.-led rebuilding plan. It also follows Trump's call in January for Riyadh to invest $1 trillion in the U.S. - a figure about matching the size of the Saudi PIF sovereign fund's assets. According to the people, who spoke to Reuters on condition of anonymity, Trump is scheduled to deliver an in-person address at the gathering. A Riyadh-based representative for the FII Priority summit, opens new tab, scheduled for February 19 to 21, declined to comment. Representatives for the U.S. embassy in Riyadh didn't immediately respond to a request for comment.
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Saudi Arabia aims to become mining powerhouse
Saudi Arabia is making significant investments in exploration to discover new mineral deposits. Al-Mudaifer noted the increase in exploration companies operating in the country: "The number of companies on exploration has increased in Saudi Arabia from 23 in 2023 to 132, 4 times in just one year because the potential is there and the enablement is here." To support exploration efforts, the Kingdom has launched a regional geological survey and established exploration incentives. "We have completed most of it," Al-Mudaifer said about the survey. "65% of the data that we acquired is in our national geoscience database." The country also provides financial support to exploration companies, covering up to 25% of their initial costs.
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Saudi Arabia Releases New Hajj 2025 Rules for Pilgrims
Saudi Arabia has introduced significant changes for the 2025 Hajj pilgrimage, aiming to improve safety and streamline the experience for all attendees. One of the most notable updates is a new rule prohibiting children from accompanying pilgrims. This decision was made by the Ministry of Hajj and Umrah to protect young children from the risks associated with overcrowding, which is a common challenge during this highly anticipated annual event. In an effort to make the Hajj experience more accessible, Saudi Arabia has announced that first-time pilgrims will be given priority for the 2025 season. The goal is to ensure more Muslims can fulfill this sacred journey at least once in their lifetime. This decision highlights the government's commitment to making Hajj a once-in-a-lifetime opportunity for as many people as possible.
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Saudi crown prince, Russia’s wealth fund chief were involved in US prisoner release, source says
Saudi Crown Prince Mohammed bin Salman and Russia's sovereign wealth fund chief Kirill Dmitriev were involved in negotiations for the release of U.S. teacher Marc Fogel from a Russian prison, a source close to the negotiations between Russia and the United States told Reuters on condition of anonymity. The Kremlin could not be reached for immediate comment. The Saudi embassy in Moscow did not immediately reply to a request for comment. The Saudi crown prince, also known as MbS, helped to negotiate the biggest U.S.-Russian prisoner swap since the Cold War in August 2024.
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Saudi Arabia’s Texas Refinery Just Made a Power Move
While some U.S. refiners are scaling back, Saudi Arabia’s Motiva Enterprises just made a power move. The Saudi Aramco-owned refinery in Port Arthur, Texas, has quietly expanded its capacity, now processing a record 654,000 barrels per day—officially making it the largest refinery in the United States above Exxon’s Beaumont and Marathon’s Galveston Bay. Motiva pulled this off without a flashy billion-dollar project—just good old-fashioned optimization, removing bottlenecks in the system to squeeze out more production. And they did it at a time when smaller, less efficient refineries are dropping like flies. LyondellBasell’s Houston plant is closing. Phillips 66’s Los Angeles refinery is shutting down.
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AGI by 2050 tops Saudi R&D goals
Developing national Artificial General Intelligence (AGI) by 2050, tops the list of Saudi Arabia’s ambitious R&D goals, according to a presentation made at LEAP25 by Acting Head of RDIA (Research, Development and Innovation Authority) Dr. Mohammed Alotaibi on Wednesday. AGI is one of three ‘moonshot' goals identified in the RDIA’s ‘Innovation Outlook in Economies of the Future”, a guiding framework to align, communicate and shape the Kingdom’s research agenda. The first national R&D moonshot goal is to establish five cognitive cities across Saudi Arabia by 2040; the second is to develop a scalable, fault tolerant quantum computer by 2045; and the third moonshot goal is to develop aligned artificial general intelligence by 2050. Additionally, the RDIA launched strategic alliances in fields of autonomous logistics, quantum computing, and AI-driven healthcare, alongside major investments in semiconductor manufacturing.
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Neuralink competitor Paradromics secures investment from Saudi Arabia’s Neom
Texas-based neurotech startup Paradromics on Wednesday announced a strategic partnership with Saudi Arabia’s Neom and said it will establish a Brain-Computer Interface Center of Excellence in the region. Paradromics is building a brain-computer interface, or a BCI, which is a system that deciphers brain signals and translates them into commands for external technologies. The company will work with Neom to “advance the development of BCI-based therapies” and set up the “premier center for BCI-based healthcare” in the Middle East and North Africa, it said in a release.
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Saudi Arabia’s First Luxury Train Is A Moving Oasis Of High Design
From Italy’s new La Dolce Vita Orient Express to the United Kingdom’s new Britannic Explorer, luxury rail travel is having a global renaissance, and the Middle East is about to get in on the action with Dream of the Desert, a new 14-carriage luxury train coming in 2026. Unveiled by Saudi Arabia Railways (SAR) and Arsenale (the Italian hospitality house behind Accor’s upcoming La Dolce Vita Orient Express train), this five-star rolling masterpiece promises to define high-end rail travel across the Arabian Peninsula.
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