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Recent stories from sustg
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Huawei in Talks With Saudi Authorities for Middle East HQ Move to Saudi Arabia
- April 10,2023
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- SUSTG Team
Huawei Technologies Co., the Chinese multinational technology corporation, is looking to make Riyadh its headquarters for its growing Middle East operations, according to a report.
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Challenges Remain for Investment into Saudi Arabia as FDI Falls 60% in 2022
- April 4,2023
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- SUSTG Team
Foreign direct investment (FDI) into Saudi Arabia fell by almost 60% in 2022, the first annual drop in five years and the second largest drop in more than 15 years, according to new data.
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U.S.-Based Marriott Inks Deal with Rua Al Madinah Holding Company for Eight Hotels
- March 21,2023
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- SUSTG Team
U.S.-based Marriott International announced it has signed an agreement with Rua Al Madinah Holding Company to open as many as eight hotels in the Holy City of Madinah in Saudi Arabia.
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An evolving U.S.-Saudi relationship, jaw-dropping developments and progress on the Red Sea, and much more….
- March 10,2023
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- SUSTG Team
Episode 78! The 966 hosts fly solo this week ahead of a busy week of travel to Saudi Arabia and the region and an impressive slate of forthcoming guests in the coming weeks. This week the hosts discuss a recent collection of articles and items in the media that paint a picture of a U.S.-Saudi […]
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Saudi Economy in 2023 Report: Saudi Non-Oil Economy Forecasted to Grow Over 5% — Jadwa Investment
- February 28,2023
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- SUSTG Team
Riyadh-based Jadwa Investment says it sees Saudi Arabia’s non-oil economy continuing its growth streak through 2023, “growing well in excess of 5 percent,” according to a report issued by Jadwa.
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Saudi Arabia to celebrate Founding Day on February 22
- February 21,2023
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- SUSTG Team
On February 22 Saudi Arabia celebrates Founding Day which commemorates Mohammed Bin Saud’s ascension to leadership of the central Arabian town of Diriyah in 1727.
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First Saudi Team Reaches Club World Cup Final as Al Hilal Bests South American champions Flamengo
- February 8,2023
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- SUSTG Team
Saudi Arabia’s Al Hilal secured a 3-2 win over South American champions Flamengo on Tuesday that sent them to the Club World Cup final – the first time a Saudi team has reached the championship match in this tournament.
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Saudi Arabia’s Non-Oil Economy Grew 6.2% During the Fourth Quarter of 2022 – Latest Data
- January 31,2023
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- SUSTG Team
In the 4th quarter of 2022, Saudi Arabia’s non-oil sector grew at the fastest pace in more than a year and “helped the kingdom record the fastest overall growth among major global economies,” Bloomberg reports. The non-oil economy grew an annual 6.2% during the fourth quarter of last year, the highest level since the third […]
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Report: Saudi Arabia Explored Bid to Buy F1 for Over $20 Billion
- January 23,2023
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- SUSTG Team
Saudi Arabia explored a bid to acquire Formula 1 racing in early 2022, according to a Bloomberg report.
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Saudi Arabia Makes Major Amendment to Citizenship Law
- January 12,2023
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- SUSTG Team
Saudi Arabia’s King Salman issued a royal decree that defines who can claim Saudi citizenship, allowing the children of Saudi women who are married to expat men to now apply for citizenship after the age of 18.
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MUST-READS
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Saudi Aramco Chairman Yasir Al Rumayyan Joins Mukesh Ambani
Mukesh Ambani’s Reliance Industries (RIL) today said that the appointment of Saudi Aramco Chairman Yasir Al Rumayyan as an independent director of the company has taken effect from July 19
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Saudi Aramco Confirms Data Leak After Ransomware Cyber Attack
Saudi Aramco confirmed that some company files were leaked after hackers reportedly demanded a $50 million ransom from the world’s most-valuable oil producer. “Aramco recently became aware of the indirect release of a limited amount of company data which was held by third-party contractors,” the Middle Eastern oil major said Wednesday in an email. “We confirm that the release of data was not due to a breach of our systems, has no impact on our operations, and the company continues to maintain a robust cybersecurity posture.”
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Saudi Aramco facing $50M cyber extortion over leaked data
Saudi Arabia’s state oil giant acknowledged Wednesday that leaked data from the company — files now apparently being used in a cyber-extortion attempt involving a $50 million ransom demand — likely came from one of its contractors.
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Oil giant Saudi Aramco hit by 1TB data breach
The cybercriminal group known as ZeroX is now selling 1TB of proprietary Saudi Aramco data on an online hacking forum starting at $5m but the price is negotiable. The group claims that the data itself was stolen from the company sometime last year though some of the files contained in the dump date all the way back to 1993.
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Saudi Aramco VC arm invests in Chinese medical robot startup
Prosperity7 Ventures, the venture capital arm of Saudi Aramco, has invested in Chinese medical rehabilitation robot firm Fourier Intelligence as part of the startup’s Series C+ funding round. “All proceeds will go towards global market expansion and technological development, furthering the company’s mission to provide intelligent rehabilitation technologies to empower clinicians and neurological patients,” the Chinese company said in a Linkedin post.
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Saudi Aramco drops Morgan Stanley on gas pipelines deal -sources
Saudi Aramco has dropped Morgan Stanley (MS.N) as an adviser for the sale of its gas pipelines and picked JPMorgan (JPM.N) and Goldman Sachs (GS.N) for the role, three sources familiar with matter said. JPMorgan had also advised Aramco on the sale of the oil pipeline business, which was sold to a consortium led by Washington-DC based EIG Global Energy Partners for $12.4 billion
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Saudi Aramco to Sell More Assets in Multi-Billion Dollar Push
The sales will continue in the next few years, according to Abdulaziz Al Gudaimi, senior vice president for corporate development. They will happen “irrespective of any market conditions” and Aramco aims to generate “double-digit billions of dollars,” Al Gudaimi said in an interview. “It’s a strategy meant to create value and create efficiency, it’s not about a specific capital target or financing the dividends of the company.”
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Saudi Aramco Sees A Major Market Forming For Hydrogen
There are already plenty of industries that rely on burning hydrogen and have done so for years, but that doesn’t make them clean, because hydrogen is only as green as the energy that is used to make it.
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Aramco CFO Khalid al-Dabbagh steps down
Aramco (2222.SE) Chief Financial Officer Khalid al-Dabbagh has stepped down and been replaced by Ziad al-Murshed, who takes over the role in an acting capacity, the Saudi oil company said on Thursday. Murshed, as acting senior vice president of finance, strategy and development, will oversee Aramco’s strategy, corporate planning & performance management, treasury, finance, accounting, reporting, investor relations, and internal controls, the statement said.
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Aramco sees major hydrogen market forming amid pressure for Big Oil
Saudi Arabia’s oil giant Aramco is stepping up efforts to promote initiatives in hydrogen technology and investments to reduce carbon emissions, after a harrowing investor smackdown for Big Oil.
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