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Recent stories from sustg
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Total Saudi Government Revenue in Q1 2022 Up 36%, with Oil Revenue Up 58% – Jadwa Investment
Jadwa Investment’s recently-released report on the Saudi economy highlights the strong economic situation the Kingdom is in through the start of 2022, as higher oil prices and a growing non-oil sector continue to power growth in the Arab world’s largest economy.
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Crown Prince Mohammed bin Salman Visits Abu Dhabi Following Death of Sheikh Khalifa
Crown Prince Mohammed bin Salman of Saudi Arabia arrived in Abu Dhabi on Monday evening to offer his condolences on the death of Sheikh Khalifa bin Zayed Al Nahyan.
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High Oil Prices, Soaring Output Boost Aramco’s Profit to Nearly $40 Billion in 1Q
Saudi Aramco’s profit soared to nearly $40 billion in the first quarter of 2022, the highest since the company’s IPO, on the back of higher oil prices and increased output.
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Kingdom Re-Launches Airports Privatization Strategy, Eyes 2023 Opening for Major Red Sea Tourism Project
Saudi Arabia is relaunching its strategy to privatize its airports in order to secure investment as it seeks to triple annual visitor numbers by 2030.
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Eid Mubarak the SUSTG Team
The Saudi-US Trade Group (SUSTG) wishes all followers of Islam a blessed and joyous Eid-al-Fitr!
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UK PM Boris Johnson Speaks with Crown Prince Mohammed Bin Salman after March Visit
Just weeks after visiting Saudi Arabia and the UAE as part of a diplomatic push to align Western interests with that of Gulf allies, British Prime Minister Boris Johnson held talks via telephone on Monday with Saudi Crown Prince Mohammed bin Salman to discuss the dire situation in Ukraine and other matters.
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Scratching the surface on the issues affecting U.S.-Saudi relations today + much more – The 966 Episode 36
Episode 36! The hosts scratch the surface on some issues affecting U.S.-Saudi relations – both now and in the past – and talk about the status of the U.S.-Saudi relationship today. First, the hosts talk about a recent op-ed by Prince Turki al-Faisal, ‘America should laugh with the Kingdom, not scowl’, amid U.S. media criticism […]
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Saudi Stock Market Continues Hot Streak, is Sixth Strongest Globally in 2022
Saudi Arabia’s benchmark index, the Tadawul All Share Index (TASI), is the sixth best performing globally “and gains may not be over yet,” analysts and fund managers believe, according to Bloomberg.
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In Speech, Head of Yemen’s New Presidential Council Rashad Al-Alimi Pledges Peace
The head of Yemen’s new presidential council Rashad Al-Alimi said on Friday he would end the war with a commitment to a peace process, in his first speech since power was delegated to the body by the Saudi-backed president this week, according to Reuters.
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Energy, hydrogen, and more with Phillip Cornell from The Economist Impact and the Atlantic Council and much more…
In Episode 34, The hosts welcome Phillip Cornell, senior fellow, Global Energy Center at the Atlantic Council, and Principal for Energy and Sustainability at the Economist Impact, and brings over 15 years of international experience in private and public sectors (World Bank, IEA, Aramco, NATO, Dow Jones) onto The 966 to talk about the global […]
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MUST-READS
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Commentary: What’s So Bad About Fixing Oil Prices?
Oil’s history is full of attempts at stabilizing prices. Petroleum is an essential commodity that has high capital needs and long lead times: That lends itself to boom-and-bust cycles that are painful for consumers, governments and companies. There is no immediate cure for price spikes or plunges because it is impossible to turn on significant new oil supply or to turn off demand for it on short notice. Storage helps, but oil must be kept underground or in specialized tanks.
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Why political cost, US politics drive Qatar to rethink Gaza mediation
Qatar has since the eruption of the Gaza war last October played an essential role as a mediator between Hamas and Israel. But if Doha cannot convince Hamas to release Israeli hostages seized on Oct. 7, 2023 in the coming weeks, it might have to reconsider its hosting of the Palestinian group’s political office.
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Saudi Arabia’s new $22bn 109-mile Riyadh Metro to connect desert with cities
The project comprises a metro network, a bus network, and other transport services. The metro will have six lines, 85 stations, and will cover 109 miles. The city’s ambitious goals include transforming Riyadh into an international business hub and improving its image in front of the world.
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Gazans Flee Danger of Rafah for Uncertainty of Crowded Camps
Seven months into the war between Israel and Hamas, chaos is rising, and so are prices. A tent, the most basic shelter, can cost $1,000. A ride from the southern city of Rafah, now in Israel’s crosshairs, to the declared safety zone of al-Mawasi can be $270. It used to cost about $13. And those who are fleeing jam-packed Rafah find the al-Mawasi safe zone itself overcrowded and squalid — and perhaps not even safe from fighting.
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U.S. weapons may have been used in ways “inconsistent” with international law in Gaza, U.S. assessment says
The report states that though there are allegations that Israel violated international humanitarian law during the period covered by the report, Jan. 1, 2023 through late April of this year, the U.S. doesn't have "complete information" on whether U.S. weapons were used in those actions. Its authors cite the difficulty of determining facts on the ground in an active war zone as well as Hamas's use of civilian infrastructure for military purposes.
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Saudi Arabia’s billion-dollar football league a work in progress
None of the Saudi teams reached the Asian Champions League final, hosts Al Ittihad exited in the second round of the Club World Cup in Jeddah, and Roberto Mancini's Saudi national side lost in the Asian Cup's last 16. Al Hilal were so dominant that they won 34 consecutive games in all competitions -- a record for a top-flight team -- and remain unbeaten in the Pro League.
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Tawaref Series: Understanding annual operating cost in Saudi Arabia
As you can see, there is a major cost difference between operating an early-stage startup and small traditional business. The startup is less expensive to operate across every category, with the most notable difference being observed in commercial registration and third party costs. From our analysis, we have identified the following ways you can cut OpEX costs.
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CENTCOM Commander Visits the Kingdom of Saudi Arabia
From May 9-10 Gen. Michael Erik Kurilla, commander of U.S. Central Command, traveled to the Kingdom of Saudi Arabia to meet with leaders of the Saudi Royal Armed Forces and senior U.S. diplomats. The visit is part of an ongoing multi-country trip to the CENTCOM area of responsibility. While in Saudi Arabia, Gen. Kurilla engaged with Chief of General Staff, Gen. Fayyadh al-Ruwaili and other Saudi senior military leaders. The leaders discussed shared regional security concerns, the status of humanitarian assistance into the Gaza Strip, and further opportunities to partner on innovation of defensive technologies.
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China’s former ambassador to Iran takes on same role in Saudi Arabia
China’s former ambassador to Iran, Chang Hua, has been transferred to Saudi Arabia as part of a regular diplomatic reshuffle.
The move follows last year’s Chinese-brokered deal between the states to restore diplomatic relations.The embassy in Riyadh announced the appointment and Chang’s arrival on Friday. In his inaugural address he said the embassy is “committed to promoting exchanges and cooperation between [China and Saudi Arabia] actively practising ‘diplomacy for the people’, and providing dedicated services to Chinese citizens” in Saudi Arabia.
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Saudi Arabia offers financial incentives to 490 factories: Official
Financial incentives were offered to more than 490 factories through several initiatives and programs within the Future Factories Program, said Al-Bader Fouda, Acting Undersecretary of Industrial Development and Supervisor of the Empowerment Agency.
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