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Plans Move Ahead for Saudi Arabia’s ‘Fannie Mae’ Mortgage-Refinancing Firm
- May 4,2017
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- SUSTG Team
Saudi Arabia’s first mortgage-refinancing firm has started approaching banks to buy their mortgage portfolios as the state tries to boost lending for homes, Bloomberg reports. In 2015, Bloomberg and Reuters reported on Saudi Arabia’s plans to work with the Boston Consulting Group to help start a state-owned mortgage firm similar to the U.S.’s Fannie Mae and […]
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IMF: ‘The Redistribution of Oil Wealth Through Government Jobs and Generous Subsidies is No Longer Sustainable’
- May 2,2017
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- SUSTG Team
A recent report by the International Monetary Fund (IMF) finds growth in the Middle East is slightly improving “largely driven by higher oil prices and improved export prospects” but emphasizes that countries will need to continue with plans to diversify their economies and implement policies that support jobs and productivity, like education and infrastructure reforms. “Persistently […]
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7 Major Changes to the Kingdom of Saudi Arabia that Happened This Weekend and What They Mean
- April 24,2017
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- Lucien Zeigler
Over the weekend, Saudi Arabia’s King Salman announced a series of major changes to key leadership positions, a new “national security center” for Saudi Arabia that is affiliated with the Royal Court, and more. Here’s what is different now for Saudi Arabia and what those changes mean for the Kingdom, U.S.-Saudi relations and Saudi Arabia’s […]
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Secretary of State Rex Tillerson, Saudi Minister of Commerce Dr. Majed Al-Qassabi Deliver Keynote Remarks at U.S.-Saudi Arabia CEO Summit
- April 20,2017
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- SUSTG Team
Secretary of State Rex Tillerson gave his first on-the-record public speech as Secretary yesterday to the U.S.-Saudi Arabia CEO Summit, hosted by the U.S. Chamber of Commerce, the Saudi Committee for International Trade and the Council of Saudi Chambers of Commerce. The Secretary said that the U.S.-Saudi Relationship should be “taken to new heights” and […]
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FULL TEXT: Secretary of State Rex Tillerson’s Remarks at the U.S.-Saudi Arabia CEO Summit
- April 20,2017
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- SUSTG Team
Full text of the Secretary of State’s remarks at the U.S.-Saudi CEO Summit, hosted by the U.S. Chamber of Commerce, the Saudi Committee for International Trade and the Council of Saudi Chambers of Commerce. *** SECRETARY TILLERSON: (Applause.) Well, thanks so much, Tom, and good afternoon to all of you. And Tom and I are old […]
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Saudi Arabia Looks to Overhaul Billions in Government Projects, Report Says
- April 17,2017
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- SUSTG Team
Saudi Arabia’s government is ordering its ministries and agencies to review billions of dollars’ worth of unfinished infrastructure and economic development projects “with a view to shelving or restructuring them,” a report in Reuters said, citing government sources. According to the report, Riyadh’s Bureau of Capital and Operational Spending Rationalization, set up last year to make […]
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Demand for Homes in the Kingdom Soars, But Supply Falls Short
- April 12,2017
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- SUSTG Team
Saudi Arabia needs to build nearly 414,000 houses this year to meet the needs of its rapidly growing population, a report in Zawya.com said, citing a report in the Arabic language daily Al-Madina which based the information on official statistics from the Saudi Ministry of Housing. The Kingdom must play catch up in order to meet […]
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Saudi Arabia Praises Trump Airstrike Punishment of Syria Chemical Attack
- April 7,2017
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- SUSTG Team
Saudi Arabia said on Friday it “fully supports” U.S. strikes on military targets in Syria, saying it was a “courageous decision” by President Donald Trump in response to the use of chemical weapons against civilians. The United States had fired nearly 60 Tomahawk missiles at a military airfield in Syria, the first direct military action […]
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Saudi Economic Data for February Paints Another ‘Mixed Picture’
- April 4,2017
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- SUSTG Team
Saudi Arabia’s economic data for the month of February 2017 showed a mixed picture for the Kingdom, with foreign reserves falling to $514 billion in February, the lowest since August 2011. The latest Jadwa Investment monthly chartbook for February finds cash withdrawals from ATMs and POS transactions showed a downward trend, but non-oil PMI was […]
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Moody’s Says Saudi Fiscal Position is Strong, Eyes Oil Dependency as Key Credit Challenge
- March 31,2017
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- SUSTG Team
Bond credit rating agency Moody’s Investors Service said Saudi Arabia’s fiscal position remains strong at the A1 rating level, but said that reducing the Kingdom’s high oil dependency is the key credit challenge the country faces. Moody’s said that while the government has announced ambitious and comprehensive reform plans with its Vision 2030 and National Transformation Plan, […]
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MUST-READS
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Saudi Arabia declares February 22 as official holiday for private and non-profit sectors to mark Founding Day
The Ministry of Human Resources and Social Development has announced that Saturday, February 22, will be an official holiday for both the private and non-profit sectors in observance of Saudi Founding Day. Founding Day marks the anniversary of the establishment of the First Saudi State by Imam Mohammed bin Saud in 1727, celebrating the Kingdom’s deep historical roots, national unity, and strong leadership bond that has connected Saudi citizens to their rulers since the founding of Diriyah as the state’s first capital. The occasion highlights the early Saudi efforts in establishing security and stability, which profoundly shaped Saudi society after centuries of division and instability.
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Saudi Arabia emerges as the epicentre of Media & Entertainment in 2025
According to a January 2025 Statista report, Saudi Arabia leads the MENA media industry, holding a dominant 30% market share. This month Saudi Arabia appears to be the hub for everyone in Media & Entertainment, with Leap, followed by the Future of Media Exhibition (FOMEX) from February 19-21, and the BroadcastPro Summit KSA on February 25. We will have a stand at FOMEX too and look forward to meeting many of you there. It’s that final burst of activity before everything calms down for Ramadan – or will it?
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Commentary: Trump’s Alternate Reality in the Middle East
This bizarro world solution for the Middle East isn’t going to happen. There is no appetite around the globe for accepting millions of Palestinians from Gaza. There is no way for Jordan—even if it were willing to accept still more Palestinian refugees than those already living there—to receive hundreds of thousands of Palestinians from Gaza. There is no way to get them from Gaza to Jordan, short of outlandish round-the-clock air lifts or some sort of forced death march through the Negev desert. The only location that makes any practical sense is Egypt, but Cairo is not going to accept the transfer of significant numbers of Palestinians from Gaza into Sinai or anywhere else in their country. This is a policy that dates back to the era of King Farouk, when in 1951 or 1952 it was decided to absolutely not allow the transfer of Palestinians into Egypt from Gaza. There is virtually nothing the United States can offer Egypt (within the realm of reality) that would induce Cairo to change this policy; withholding the current military aid package would certainly not be sufficient to produce that result.
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Here’s what folding USAID into State is likely to look like
Get ready for a smaller, weaker U.S. Agency for International Development focused mostly on food aid and AIDS clinics. That’s assuming the USAID name even exists in a few weeks. The White House has not publicly outlined its plans for the aid agency and how international assistance will be affected by its moves to rein in the agency’s long-standing operational autonomy and bring it under the State Department. But Trump administration moves made so far are starting to give a picture of how its work will change. All programs are in limbo right now as USAID staff around the world are being placed on paid administrative leave. Still, there are indications of what may come back through public statements and already-issued waivers to a blanket freeze on foreign aid.
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‘Red line’: Egypt condemns Netanyahu’s call for Palestinian state in Saudi Arabia
Egypt has strongly criticised comments by Israel's prime minister, in which he suggested that a Palestinian state could be established on Saudi territory. On Thursday, Benjamin Netanyahu said during an interview with Israel's Channel 14: "The Saudis can create a Palestinian state in Saudi Arabia; they have a lot of land over there." The remarks came after Riyadh reiterated that it would only normalise relations with Israel if there was a clear pathway towards Palestinian statehood. Without naming Netanyahu, Cairo's foreign ministry said on Saturday that it condemned the remarks "in the strongest terms". "Egypt condemns the irresponsible Israeli statements that incite against the kingdom and call for the establishment of a Palestinian state on Saudi lands," the ministry said.
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‘Take the Israelis to Alaska’, Saudi official mocks Netanyahu and Trump
A member of the powerful Saudi Shura Council, Yousef bin Trad al-Saadoun, ridiculed Israeli Prime Minister Benjamin Netanyahu’s suggestion of establishing a Palestinian state in Saudi Arabia, instead proposing that US President Donald Trump should relocate Israelis to Alaska and later to Greenland “after annexing it”. Writing in the Saudi newspaper Okaz on Friday, al-Saadoun criticised Trump’s approach to Middle East policy, arguing that reckless decisions stem from ignoring expert advice and dismissing dialogue. He warned that "Zionists and their allies" would fail to manipulate Saudi leadership through media pressure and political manoeuvres. Taking a swipe at the Trump administration, al-Saadoun said: "The official foreign policy of the United States will seek the illegal occupation of sovereign land and the ethnic cleansing of its inhabitants, which is the Israeli approach and are considered crimes against humanity. "Anyone who follows the path of the emergence and continuation of Israel clearly realizes that this plan was certainly formulated and approved by the Zionist entity, and was handed over to their ally to read from the White House podium.
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Seven Saudi Hospitals Rank Among Brand Finance World’s Top 250
Seven Saudi hospitals have been recognized among Brand Finance's top 250 hospitals worldwide for 2025, underscoring the Kingdom's remarkable progress in the healthcare sector, driven by the ambitious goals of Vision 2030. Leading the way for Saudi and regional hospitals, King Faisal Specialist Hospital and Research Center secured the 15th position globally, solidifying its status as the leading medical facility in the Middle East and North Africa. The impressive Saudi representation on the list includes King Fahad Medical City, King Khalid University Hospital, King Saud Medical City, King Abdullah Medical City, National Guard Health Affairs, and King Fahad University Hospital. This significant achievement reflects the rapid advancements in healthcare infrastructure, cutting-edge medical technologies, and robust scientific research initiatives, all of which aim to establish a globally competitive healthcare system, as envisioned in Vision 2030.
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HP to open AI R&D centre in Saudi Arabia
HP Inc. has announced the launch of a new AI and R&D Centre of Excellence in Dhahran, Saudi Arabia. Speaking at LEAP25, global president and CEO of HP Enrique Lores said that new R&D centre will focus on developing AI-driven solutions to enhance business efficiency, automation, and decision-making. The new RD centre will attract top AI talent and provide training programmes to upskill the local workforce. The building of a state-of-the-art manufacturing facility in Riyadh was also announced by Lores, which will produce its first PCs this year.
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SambaNova to invest $140 million in Saudi AI infrastructure & services
Palo Alto-based AI company SambaNova Systems has announced $140 million in investments in Saudi Arabia's AI infrastructure, partnering with the Ministry of Communications and Information Technology (MCIT) and the RDIA’s National Semiconductor Hub. SambaNova CEO Rodrigo Liang announced that the company is also launching a Sovereign LLM-as-a-Service in collaboration with STC AI, offering the world's largest open source model LAMA 405B and running other capabilities such as STC’s Enterprise GPT. Lastly, Liang announced that SambaNova will soon offer the full DeepSeek 671 billion parameter R1 model on SambaNova Cloud. The model will be made available to select customers first, before being made more widely accessible.
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Saudi Arabia could rank as Europe’s 5th largest tech hub if in EU: Minister
Abdullah Al-Swaha, Minister of Communications and Information Technology, said Saudi Arabia could have ranked the fifth-largest tech hub in Europe if part of the European Union (EU). Speaking at LEAP 25 Conference, the minister emphasized that attracting top thinkers, major investors, and innovators from around the world would drive progress not only for Saudi Arabia but also for the region and the entire world. He highlighted the Kingdom's ongoing efforts to mitigate challenges related to skills, digitization, and governance.
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