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Energy Secretary Rick Perry Confirms KSA One of 16 Countries Approved for Unclassified Civil Nuclear Technology
- March 29,2019
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- SUSTG Team
The Trump administration has approved seven applications for U.S. companies to sell nuclear power technology and assistance to Saudi Arabia, but did not reveal the particular companies or specifics of those authorizations, the Energy Department said Thursday. Energy Secretary Rick Perry told the Senate Armed Services Committee that the seven applications approved were among 37 […]
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Saudi Aramco Agrees to Buy 70% Stake in SABIC from Kingdom’s Public Investment Fund
- March 28,2019
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- SUSTG Team
Saudi Arabia’s national oil company Saudi Aramco has agreed to buy a 70% stake in Saudi Basic Industries Corporation (SABIC), the kingdom’s leading petrochemical firm, for $69.1 billion in a private transaction, SABIC said in a press release. The move continues Saudi Aramco’s plans to diversify away from oil to “generating more of its profits […]
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King Salman Announces New Governor of the General Authority for Foreign Trade in Weekend Royal Orders
- March 25,2019
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- SUSTG Team
Custodian of the Two Holy Mosques King Salman issued several royal orders on Saturday appointing a number of officials to positions, including appointing Abdulrahman Al-Harbi to be the first governor of the General Authority for Foreign Trade. Al-Harbi is serving as Deputy Minister for Foreign Trade and Investment in Saudi Arabia’s Ministry of Commerce and Investment. The […]
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Oil Notches Third Straight Week of Gains, but Global Economy Fears Still Weigh on Prices
- March 22,2019
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- SUSTG Team
Concerns that a looming economic slowdown might soon impact fuel consumption around the world are weighing down oil prices after Saudi Arabia and the OPEC+ group of oil producing nations have successfully reversed a downward trend for oil since the start of 2019. Brent hit a four-month high of $68.69 per barrel on Thursday, up from $51 […]
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Saudi Tourism Officials Eye $20b Investment for Al-Ula, with Roadshow Planned for This Year – Report
- March 21,2019
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- SUSTG Team
A recent report in Reuters revealed Saudi Arabia’s big ambitions for Al-Ula, in the northwestern corner of the kingdom that was a key site for an ancient civilization and is near to the future planned city NEOM. Saudi Arabia is targeting up to $20 billion of investments through 2035 for a planned landmark tourism destination and will hold a global investor […]
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King Salman Announces $23 Billion for Four Entertainment Projects Including the ‘World’s Biggest Park’ in Riyadh
- March 19,2019
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- SUSTG Team
Saudi Arabia is planning to build the “world’s biggest park” as part of a $22.9bn project that aims to create large open green areas in Riyadh while creating thousands of new jobs, according to the Saudi Press Agency and other news outlets. The project consists of four entertainment projects in Riyadh, which are currently in the design phase, according […]
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Ambitious Goals for Saudi Ports in Vision 2030 Drive
- March 15,2019
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- SUSTG Team
The Saudi Ports Authority says it aims to reduce container time at its ports to three days by 2020 while simultaneously pushing for more than double handling by 2030, according to the Saudi Press Agency and other reports. The goals fit into the kingdom’s Vision 2030 economic and social reform drive which prioritizes the generation of efficiencies […]
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Large Quantities of Natural Gas Discovered in Red Sea, Al-Falih Says
- March 8,2019
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- SUSTG Team
Large quantities of gas have been discovered in the Red Sea, the official Saudi Press Agency said, citing comments made by Minister of Energy Khalid Al-Falih. Al-Falih said that Saudi Aramco will intensify exploration work over the next two years after completion of a feasibility study. Falih also said Saudi Aramco was studying possible Liquified Natural Gas (LNG) project […]
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Saudi Housing Sector to See $21 Billion in Investment in 2019; Home Ownership Growing 6-7 Percent Annually – Minister
- March 6,2019
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- SUSTG Team
Saudi Arabia’s Minister of Housing Majed al-Hogail said he expects investments in the real estate financing sector to reach between 60 billion Saudi riyals and 80 billion riyals ($21.33 billion) in 2019, according to Reuters on the sidelines of a housing conference in Riyadh. The minister told Reuters that real estate financing for January hit 4.7 […]
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Crown Prince Mohammed bin Salman Meets with Xi Jinping in Beijing, Tours Great Wall
- February 22,2019
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman continued his tour of Asian nations with a second day in China, where he met with Chinese President Xi Jinping and the two countries inked over $28 billion in deals, according to reports. In his meeting with President Xi Jinping, the Chinese leader urged joint efforts to counter extremism and […]
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MUST-READS
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Gulf economies set for steep contractions this year before rebounding: Reuters poll
The six-member Gulf Cooperation Council faces a steep economic contraction this year before partially rebounding in 2021, with most countries facing sharper declines than previously estimated, a quarterly Reuters poll showed.
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Trump administration to impose crushing sanctions on Iran in defiance of European humanitarian concerns
The measures will target the few remaining banks not currently subject to secondary sanctions in a move European governments say is likely to diminish channels Iran uses to import humanitarian goods, such as food and medicine, officials said.
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Lebanon’s ‘boat people’: Desperate Tripoli residents attempt sea crossing to Europe
Hundreds of impoverished Lebanese people have recently tried to make the sea crossing from the northern port city of Tripoli to Cyprus in order to escape the country's financial meltdown. FRANCE 24 met three of them in Tripoli after they were sent back by Cypriot authorities. The "Lady Rayan" was ready to leave Lebanon for good. The unsophisticated 20-metre wooden boat had seen better days, back when it was used to ferry tourists from Tripoli's El Mina harbour to the nearby Palm Islands Nature Reserve.
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Gulf coronavirus infections surpass 800,000, Reuters tally shows
The number of recorded novel coronavirus cases in the six Gulf Arab states has doubled in three months to over 800,000, according to a Reuters tally.
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Saudi Arabia pushes soft power by launching new teamLab digital art museum in Jeddah
The Japanese multimedia collective teamLab will launch a new digital art museum in Jeddah, Saudi Arabia, by 2023 called teamLab Borderless Jeddah. The Tokyo-based technology group, known for producing crowdpleasing immersive experiences awash with virtual waterfalls and flowers, has entered into a ten-year agreement with the Saudi Ministry of Culture to develop works for the planned museum.
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Saudi women entrepreneurs fight cultural conditioning
While “the number of Saudi women entrepreneurs grew significantly from 2007 to 2017,” entrepreneurship remains the exception as the vast majority of Saudi citizens prefer public sector employment attracted by high wages, social benefits and job security — government departments pay 59% more than the private sector.
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Third Fire Destroys Remains of Europe’s Largest Refugee Camp
Nearly 12,000 refugees were left without shelter after days of fires set at the Moria camp on the Greek island of Lesbos.
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Saudi to set up 1st ‘black gold’ museum
Saudi Arabia's Ministry of Culture has announced plans to set up a "black gold" museum, the first-ever permanent creative museum on oil, in Riyadh in July 2022, the media reported. An impressive galaxy of celebrated artists from all over the world will showcase their work, which will be established in partnership with the King Abdullah Petroleum Studies and Research Centre, Gulf News reported on Wednesday citing the Ministry as saying. The black gold museum will fall under the umbrella of the "Specialised Museums" initiative announced by the Ministry in its first package of initiatives that include art museums specialised in creative fields to be launched in a number of cities across the Kingdom.
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Saudi Culture Ministry to launch first oil museum
The Black Gold Museum, at KAPSARC’s headquarters in Riyadh, will see the participation of artists from different countries. Through its diverse content, the museum will provide a creative account of the journey of oil in human life, from raw material to its contemporary compositions, through innovative artwork based on contemporary expressive concepts.
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Al Jadaan inaugurates Euromoney Saudi 2020 Virtual Series
Euromoney Saudi 2020 launches with "Saudi Arabia: Response and Recovery". The series, “Saudi Arabia: Coming Back Stronger” is a collection of virtual events, welcoming as special guests senior Saudi policymakers, international investors, Saudi and regional financiers and corporate leaders.
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