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Jadwa Chartbook: Saudi economic data from April shows Coronavirus impact
- June 2,2020
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- SUSTG Team
Economic indicators for the Saudi economy in April reflected the impact of COVID-19 containment measures on the local economy, with PMI remaining in contractionary territory, Jadwa Investment said in its recently-released chartbook.
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Saudi Arabia Begins Return to Normal Life as Second Phase of Reopening Begins
- June 1,2020
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- SUSTG Team
Saudi Arabia has begun the second of three phases in reopening businesses, retail, and restaurants after a Kingdom-wide shutdown to stop the spread of the Coronavirus.
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WTI, Brent set for biggest monthly gains in years
- May 29,2020
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- SUSTG Team
Despite a fall today, crude oil prices are set for their biggest monthly gain in years after historic production cuts and a rebound in demand. The U.S. crude benchmark (WTI) has jumped almost 80 per cent in May, Bloomberg reports, the biggest gain in exchange data compiled by Bloomberg going back to 1983. That comes after […]
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Saudi Arabia’s NIDLP Sees Traction with $1.33b in Loans So Far
- May 28,2020
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- SUSTG Team
Saudi Arabia’s National Industrial Development and Logistics Program (NIDLP) has so far granted loans amounting to SR 5 billion ($1.33b) to over 40 Saudi exporters and increased private sector investments to over SR35 billion, according to a local Saudi newspaper report.
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U.S., Saudi Forces Conduct Joint Military Exercises on Saudi Islands
- May 27,2020
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- SUSTG Team
Forces from the United States and Saudi Arabia are conducting “routine and joint sustainment training” on and around Karan and Kurayn islands, Kingdom of Saudi Arabia this week, according to a statement from the U.S. Naval Forces Central Command.
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Saudi Arabia to End Virus Curfews by June 21, Will Start ‘New Phase’ on Thursday May 28
- May 26,2020
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- SUSTG Team
Saudi Arabia said Tuesday that it will begin to end its nationwide coronavirus curfew this week, and completely phase out the curfews by June 21, according to comments from the Kingdom’s health minister Dr. Tawfig Al-Rabiah.
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Saudi Aramco’s Share Price Bounces Back to Pre-Oil Price Fall Levels as Crude Prices Rebound
- May 20,2020
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- SUSTG Team
Shares in Saudi Aramco bounced back to pre-oil price war levels after gaining as much as 3.09% on Tuesday, an encouraging sign that oil demand may be gaining again and a global glut of crude is beginning to clear.
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Sports Diplomacy in the Middle East: King Faisal Center for Research and Islamic Studies to Host Live Broadcast May 19th
- May 16,2020
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- SUSTG Team
The King Faisal Center for Research and Islamic Studies (KFCRIS) will host a live broadcast on Tuesday, May 19th at 3:00pm Washington, D.C. time (10:00 pm in Riyadh) on Sports Diplomacy in the Middle East, featuring speakers HRH Prince Faisal bin Bandar bin Sultan, president of the Saudi Arabian Federation for Electronic and Intellectual Sports (SAFEIS). The event […]
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Saudi, International Team Begin 5-Year Archeological Excavations of Kingdom’s Al-Ula Sites
- May 15,2020
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- SUSTG Team
Saudi Arabia has kicked off an international five-year long archaeological mission to excavate key sites at Al-Ula in the Kingdom, the ancient heritage site of the Dadan and Lihyan kingdoms.
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Report: Saudi Binladin Seeks Advisor for Financial Overhaul of Mecca Complex
- May 14,2020
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- SUSTG Team
The construction giant behind the Mecca skyscraper complex is seeking an advisor to cut costs as well as restructure the debt of the iconic project, sources familiar with the matter said and a document obtained by Reuters exclusively showed.
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Saudi-led coalition intercepts a Houthi explosives-laden drone – Saudi state TV
he Saudi-led coalition intercepted a Houthi explosives-laden drone fired from Yemen in the direction of the kingdom’s southern city of Khamis Mushait, Saudi state TV reported early on Thursday.
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Iraq Moves To Exploit Its Massive Natural Gas Reserves
Official estimates are that Iraq’s proven reserves of conventional natural gas amount to at least 3.5 trillion cubic meters (tcm), or about 1.5 percent of the world’s total, placing Iraq 13th among global reserve-holders, with around three-quarters of this figure comprising associated gas that is found in the same reservoirs as oil.
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Saudis make up 26% of total employees in tourism sector
Bandar Al-Safeer, director general of Training and Nationalization of Jobs at the Ministry of Tourism, said that the number of Saudis working in the Kingdom’s tourism sector reached around 189,000 out of the total 726,000 employees in this sector, and this represents 26 percent of the total workforce in the tourism sector.
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Nearly 20 arrested in alleged plot against Jordan’s King Abdullah II
Jordanian authorities on Saturday arrested as many as 20 people and sought to restrain the movement of a former crown prince amid what officials called a threat to the “security and stability” of a country long regarded as a vital U.S. ally in the Middle East.
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Saudi-led coalition thwarted two explosives-laden drones fired at Saudi city
The Saudi-led coalition said on Thursday it intercepted and destroyed two explosives-laden drones launched by Yemen’s Houthis towards the southern Saudi city of Khamis Mushait, state TV reported. Houthi military spokesman Yahya Sarea acknowledged the attack, saying in a Twitter post that the group had fired two drones at the King Khalid air base in Khamis Mushait.
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Saudi Unemployment Falls in Fourth Quarter As Virus Slows
Unemployment among Saudi nationals fell to 12.6% in the fourth quarter as coronavirus cases in the kingdom declined and business began to pick up. That compares to 14.9% in the third quarter. Joblessness among Saudi men reached 7.1%, while 24.4% of Saudi women were without jobs.
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Saudi-led coalition destroys another explosives-laden drone launched by Yemen’s Houthis -state TV
The Saudi-led coalition said on Thursday it destroyed an explosives-laden drone launched by Yemen’s Houthis towards the kingdom’s southern city of Khamis Mushait, according to state TV.
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Analysis: Labor Reforms in Saudi Arabia – Focus on Foreign Workers and Unemployment
New initiatives and laws targeting the workforce are often expected to create and nationalize more jobs for citizens. However, not all the decisions implemented so far will necessarily improve the unemployment situation for Saudis. Saudi Arabia is walking a fine line between introducing new initiatives to attract foreign investment and finding solutions for the growing unemployment crisis.
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Turkey says it has restarted diplomatic contacts with Egypt
Turkey has resumed diplomatic contacts with Egypt and wants to further cooperation, Turkish leaders said on Friday, after years of tension since the Egyptian army toppled a Muslim Brotherhood president close to Ankara.
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Saudi Truck Manufacturer Employs Women on the Assembly Line
According to the International Labor Organization, women represented just 15.8 percent of the workforce in Saudi Arabia in 2019, the fifth lowest percentage in the world. In comparison, women represent 46.2 percent of the workforce in the U.S. and 38.9 percent of the workforce worldwide.
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