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China’s Imports of Saudi Oil Soar 76% in October as Demand Increases
- November 25,2019
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- SUSTG Team
China’s crude oil imports from Saudi Arabia rose over 75% in October as demand from new refiners was met by the Kingdom, according to Reuters data. The 76.3% rise in October was boosted by demand particularly from from two new integrated refineries, the Hengli Petrochemical Co. in the north, and Zhejiang Petrochemical in the south, Reuters reports. […]
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Saudi Arabia Gears Up to Host G20 Summit; Saudi FM Travels to Japan for Ceremony
- November 22,2019
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- SUSTG Team
Saudi Arabia is making major preparations to host the annual gathering of the leaders of the Group of 20 (G20) nations next year in Riyadh, the 15th meeting of the group that is set to thrust the city into the global spotlight. The meeting will be held on November 21–22, 2020, and will be chaired […]
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U.S. Continues Troop Deployments to Saudi Arabia
- November 21,2019
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- SUSTG Team
The United States is continuing forward with a deployment of 3,000 troops to Saudi Arabia to deter threats from Iran, according to a letter sent by President Trump to the U.S. Congress this week. “United States Armed Forces have been deployed to the Middle East to protect United States interests and enhance force protection in […]
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Aramco Quickly Met Global Demand After Attacks, Saudi Arabia’s King Salman Says in Annual Address
- November 20,2019
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- SUSTG Team
Saudi Arabia’s King Salman said in his annual address to the Shoura Council on Wednesday that the ability of Saudi Aramco to quickly restore oil production capacity after attacks on its facilities in September “had proven the kingdom’s ability to meet global demand during any shortage,” Reuters reports. The King pointed a finger at Iran […]
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Saudi Aramco to Seek $1.7 billion valuation with 1.5% Share Float; Cancels International Roadshow
- November 18,2019
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- SUSTG Team
Saudi Aramco is seeking a valuation of up to $1.7 trillion, which would become the world’s biggest IPO and confirm the company as the world’s most valuable. The valuation is below the initial $2 trillion sought by Saudi Arabia’s leadership. The Kingdom is hoping to raise $30 billion on the local Tadawul index by offering 1.5% of the […]
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Saudi Aramco targets zero flaring by 2030
- November 6,2019
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- SUSTG Team
Saudi Aramco said on Wednesday it was joining the World Bank’s initiative to reduce gas flaring to zero by 2030, and said its flaring was already less than 1% of its total raw gas production in the first half of 2019, Reuters reports. The announcement comes as the company began this week the process of floating shares […]
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Announcement of New IPO Date for Saudi Aramco IPO Creates Buzz on FII’s Opening Day
- October 29,2019
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- SUSTG Team
Saudi Aramco’s long-planned IPO will see its first shares traded on Riyadh’s stock exchange in December, several news outlets are reporting, citing the Saudi-owned satellite news channel Al Arabiya. Al Arabiya said a final price for the stock will be set Dec. 4, with shares then beginning to be traded on the Tadawul stock market on Dec. 11. It added […]
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Saudi Arabia Celebrates Major Progress, Accomplishments in latest ‘Ease of Doing Business’ Ranking
- October 25,2019
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- SUSTG Team
Saudi Arabia jumped a whopping 30 places in the annual World Bank ‘Ease of Doing Business’ report for 2020, a survey of business efficiency in 190 countries, and was the top reforming country in the study this year. The Kingdom’s ranking at 62nd in the world is the highest ranking since the bank launched its “Doing […]
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Defense Secretary Esper in Riyadh for Surprise Visit; Kushner, Mnuchin to attend Future Investment Initiative
- October 22,2019
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- SUSTG Team
Secretary of Defense Mark Esper arrived Monday in Saudi Arabia for an unannounced visit as the U.S. and Saudi Arabia seek to bolster their joint defense in the face of rising regional tensions. Secretary Esper met with Saudi Arabia’s King Salman in Riyadh, photos show, and Esper said he discussed the deployment of U.S. forces and […]
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Saudi Aramco delays planned IPO until after earnings update, seeks local listing
- October 18,2019
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- SUSTG Team
Saudi Aramco has delayed the planned launch of its initial public offering “in hopes that pending third-quarter results will bolster investor confidence in the world’s largest oil firm,” Reuters reports, citing two sources familiar with the matter. The slight delay allows Saudi Aramco to reassure investors by first presenting results covering the period in which two […]
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MUST-READS
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Qatar Petroleum Kicks-Off First Dollar Bond Sale in 15 Years
The state energy company of Qatar has started the sale of what could be the biggest emerging-market bond so far this year, as it seeks to raise output of liquefied natural gas and cement its domination of the market.
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Princess Reema tells Saudi women entrepreneurs to dream big
This workshop was part of the Igniting Women’s Entrepreneurship and Innovation in Saudi Arabia program and was led by the Atlantic Council’s empowerME Initiative in partnership with the US Mission to Saudi Arabia, the American Chamber of Commerce Saudi Arabia, and Quantum Leaps. The program is bringing US entrepreneurs, experts, and business leaders together with their Saudi counterparts to build relationships, share knowledge, and develop partnership opportunities via hybrid workshops and networking sessions.
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Le Cordon Bleu to establish an educational institute in Riyadh
The Culinary Arts Commission, one of 11 new authorities set up by the Ministry of Culture last year, signed on Sunday a Memorandum of Understanding (MoU) with Le Cordon Bleu International Institute. The MoU is set to establish an educational institute in Riyadh that will provide advanced academic programs in Le Cordon Bleu's culinary and hospitality sector, using its brands, educational resources, and expertise.
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Saudi Arabia Tourism Minister Visits Bob Marley Museum
“I thought he enjoyed it phenomenally. This is an iconic attraction. Bob Marley is a global icon and so all of our international visitors that come to Jamaica want to have a piece of understanding of the man himself – what made him tick and some of his phenomenal achievements and that of his family,” Mr. White added.
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Blinken Heads to Europe for Libya Conference
U.S. Secretary of State Antony Blinken travels Tuesday to Germany where he will take part in a conference on Libya and discuss with his German counterpart ways to counter Holocaust denial and antisemitism. Germany and the United Nations are hosting Wednesday’s Berlin conference, seeking to build on earlier efforts to bring about a lasting halt in fighting in Libya and support a stable government.
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Time running out for Afghan peace process, more efforts needed – EU envoy
The European Union's envoy for Afghanistan said on Wednesday time was running out for Afghan peace negotiations and more needed to be done to boost the discussions as international forces withdraw from the war-torn nation. Afghan government and Taliban negotiators have met in Qatar's capital Doha over the past two weeks to discuss the peace process after a pause when negotiations largely stalled earlier this year.
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Saudi VC Sukna, Unifonic launches entrepreneurship program
Saudi venture capital firm Sukna has partnered with Dubai-based Unifonic to host an entrepreneurship program in the Kingdom, the pair announced in a statement.
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Biden eases trade friction with EU ahead of Putin summit
President Joe Biden on Tuesday moved to end a long-running dispute with the European Union over subsidies for aircraft manufacturers, a major breakthrough in the U.S.-EU trade relationship that comes on the eve of his highly anticipated meeting with Russian President Vladimir Putin.
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European countries sign cultural network charter with Saudi Arabia
The members include the embassies of Austria, France, Spain, Italy and Czech Republic along with the Goethe Institut. The charter aims to strengthen dialogue between the nations and Saudi Arabia leading to increased cultural activity and diverse opportunities in the Kingdom in fields such as fashion, film, music, architecture and design, and visual arts projects.
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A trillion dollars of investment needed to help the developing world reach carbon neutraliy, IEA says | The National
The world needs up to $1 trillion worth of clean energy financing by 2030 to help developing economies meet net-zero emissions targets by 2050, according to the International Energy Agency. The requirement is nearly seven times the $150 billion spent on aiding energy transition by emerging and developing economies last year.
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