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Saudi Mortgage Lending Surges 27% in First Half of 2021 — SAMA Data
- August 3,2021
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- SUSTG Team
Residential mortgage financing in Saudi Arabia has soared in 2021, increasing 27% so far this year despite a slowdown in the 2nd quarter, according to recent data released by the Saudi Arabian Monetary Authority (SAMA) and reported by Zawya.
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Jadwa Chartbook: Oil Prices Continue Climb for Third Straight Month, Benefitting Saudi Economy
- August 2,2021
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- SUSTG Team
A third straight monthly gain for oil is benefitting the Saudi economy, as SAMA FX reserves rose in June by $8.8 billion month-on-month and the non-oil PMI was unchanged at 56.4, indicating continued growth, a recently-released monthly Chartbook by Jadwa Investment for the month of June notes.
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Report: Potential Showdown Looms as PGA Tour Says it Wont Allow Players to Compete in Saudi International
- July 30,2021
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- SUSTG Team
The PGA Tour will refuse to allow some of its biggest stars to play in the Saudi International golf tournament next year in response to the Saudi Public Investment Fund’s backing of a new challenging tour to rival the PGA, according to a report in Golf Week.
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Saudi PPP to Invest $15 Billion in New Technology Fund – Report
- July 29,2021
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- SUSTG Team
A Saudi public-private partnership will launch a $15 billion technology fund “to advance the digital infrastructure in the Kingdom,” a report in Arab News said, based on an announcement at a conference in Riyadh on Wednesday.
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Finance, Insurance Sectors in Saudi Arabia Latest to Move Toward 100% Saudization
- July 28,2021
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- SUSTG Team
The finance and insurance sectors in Saudi Arabia will move toward implementing total Saudization with the hiring of Saudi nationals in as many as 91,000 jobs that are currently occupied by non-Saudis, according to a report from the local Okaz/Saudi Gazette.
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Saudi Arabia’s Rock Art Complex Hima Gets Sought-After UNESCO World Heritage list Designation
- July 27,2021
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- SUSTG Team
Hima, one of the largest rock art complexes in the world located in Saudi Arabia, has landed on UNESCO’s World Heritage list, the sixth such location in the Kingdom to receive the sought-after designation, according to reports. Entered into UNESCO’s listings as the Ḥimā Cultural Area, the incredible rock art is located in an arid, mountainous area of […]
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Saudi Arabia Suspends Privatization of the $2 Billion Ras Al Khair Desalination and Power Plant – Reports
- July 26,2021
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- SUSTG Team
Saudi Arabia has suspended the privatization plans for the Ras Al Khair desalination and power plant, valued at an estimated $2 billion, according to reports.
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Ivory Coast beat Saudi Arabia 2-1 in Kingdom’s Olympic Soccer Opener
- July 22,2021
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- SUSTG Team
The Ivory Coast beat Saudi Arabia 2-1 in the Kingdom’s opening Olympic soccer match on Thursday in Yokohama, Japan. Ivory Coast’s Franck Kessie scored the go-ahead goal in the 66th minute in a disappointing start for the Kingdom’s Tokyo dreams. On the Saudi side, Salem Al-Dossari scored the Kingdom’s lone goal in the match.
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Saudi Arabia Steps Up Pressure on Residents to Vaccinate with New Restrictions on Public Spaces
- July 21,2021
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- SUSTG Team
Saudi Arabia is stepping up pressure on its citizens and residents to receive both doses of a COVID-19 vaccine with a new announcement confirming that most public spaces, malls, and other areas will be open to only those who are vaccinated, according to Arab News.
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Saudi Startups Raise Over $250m So Far in 2021, Report Says
- July 19,2021
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- SUSTG Team
Dubai-based research platform Magnitt says Saudi Arabian startups raised more than a quarter of a billion dollars in venture capital (VC) funding during the first half of 2021, as the Kingdom looks to continue to develop entrepreneurship within its borders. Magnitt says that VC funding in MENA increased by 12% from FY’20, “marking a quarterly […]
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MUST-READS
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Lockheed MartinLockheed Martin to provide spares for Saudi F-15s
Lockheed Martin has received a $67 million contract from the U.S. Air Force to deliver spare parts for the Royal Saudi Air Force's F-15 fighters.
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Aramco IPOPromise of $1bn fees from Saudi Aramco IPO has London bankers in a frenzy but greater transparency is the real prize
The stake sale is expected to amount to only 5 per cent of Aramco’s total shares, but even that would amount to US$100 billion, which is four times what China’s Alibaba raised two years ago.
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Mecca-Medina RailwaySpanish firms reach deal with Saudi Arabia over Mecca train setbacks
A Spanish consortium which is building a high-speed rail link between Mecca and Medina has reached a preliminary deal with Saudi Arabia to finalise the works after a series of delays and setbacks, Spain's public works ministry said on Friday.
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Saudi Arms PurchasesKing Felipe: Spain unblocks €40 million arms sale to Saudi Arabia
The decision to approve the sale comes shortly before King Felipe VI of Spain is scheduled to go on his first official visit to Riyadh, between Saturday and Monday.
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Saudi StudentsSaudi student attends space training program
AT 22 years old, Abdullah H. Alghamdi, a Saudi national and Bachelor of Science candidate majoring in Aerospace Engineering at Iowa State University, had the opportunity of a lifetime this past summer. As one of six international students chosen to participate in Lockheed Martin’s Space Fundamentals Training Program, Abdullah embarked on an inspiring journey to understand space.
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MilitarySaudi Arabia will order five corvette ships from Spain’s Navantia
Saudi Arabia will reportedly order five Avante 2200 corvettes from Spain’s Navantia. The contract, which could be worth as much as $3.3 billion U.S. (IHS Jane’s), is expected to be signed in the coming days during King Philip VI’s official visit to Riyadh from November 12 (Spanish News Today).
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Rawi CafeAngry Saudi intellectuals brand closure of cafe and cultural space as ‘censorship’
Students and book lovers in Riyadh have expressed their dismay that a popular artistic spot in the city has been shut down and all its books removed pending an investigation by the Saudi authorities.
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Saudi EconomySaudi Markets Are in Recovery Mode as Bond Debut Sparks Euphoria
Stocks just chalked up their longest rally since 2014, default risk is tumbling and the cash squeeze in the nation’s banking system is suddenly dissipating.
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Prince PunishedSaudi prince flogged in court-ordered punishment – newspaper
Publication of the prince's flogging, carried out by a policeman on Monday after medical checks to ensure the prince was strong enough to endure the punishment, was unusual.
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Public Investment Fund (PIF)Saudi Wealth Fund May Be World’s Least Transparent
A Saudi Arabian sovereign-wealth fund being prepared to take ownership of state-owned oil giant Saudi Arabian Oil Co. is less transparent than a fund belonging to Equatorial Guinea that currently ranks as the most opaque in the world, according to a new report.
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