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Saudi Arabia Invites China’s President Xi to Visit Kingdom
- March 15,2022
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- SUSTG Team
Saudi Arabia has invited Chinese President Xi Jinping to visit Riyadh as the Kingdom, people familiar with the plan told the Wall Street Journal. The visit could be President Xi’s first international trip since the beginning of the Covid-19 pandemic began.
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Saudi Aramco Joint Venture to Build Refinery and Petrochemical Complex in China; Delivery Date in 2024
- March 14,2022
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- SUSTG Team
Saudi Aramco and its joint venture (JV) partners will develop a refinery and petrochemical complex in China to be delivered in 2024, according to a report in the industry publication Offshore Technology.
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A discussion with author Dr. Mark Thompson on the power and potential of Saudi youth on The 966 episode 30
- March 11,2022
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- SUSTG Team
The hosts welcome Dr. Mark Thompson from Riyadh. The hosts discuss Mark’s latest book, “Being Young, Male, and Saudi,” as well as his deep experiences living and teaching in the Kingdom. Before that, the hosts discuss why U.S. shale will not be saving the day any time soon, and also an encouraging new survey from […]
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Inaugural World Defense Show in Saudi Arabia Produces Results in Saudi’s Localization Drive for U.S. Companies
- March 7,2022
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- SUSTG Team
Saudi Arabia is hosting its first ever major defense show as industry giants from around the world assemble in Riyadh to display the latest in military tech — and pitch for lucrative opportunities as Saudi Arabia seeks to localize much of its defense industry production.
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Security and Defense Expert David Des Roches Joins The 966 to Talk Ukraine and the Middle East
- March 4,2022
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- SUSTG Team
The hosts invite NDU professor and security expert Col. David Des Roches (Ret.) back on the program for episode 29 to discuss Russia’s invasion of Ukraine and how it impacts the Middle East, as well as the changing role of NATO and energy markets. The hosts and Des Roches also discuss Lucid’s new plant in […]
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Secretary of State Blinken, Saudi FM Prince Faisal bin Farhan on Russia Invasion of Ukraine
- March 3,2022
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- SUSTG Team
Secretary of State Antony J. Blinken spoke on Wednesday with his counterpart in Saudi Arabia, Foreign Minister Prince Faisal bin Farhan Al Saud, about the Russian invasion of Ukraine, the State department said in a brief statement.
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Latest Jadwa Chartbook: Saudi Investors Unfazed So Far on Russian Invasion; Consumer Spending Climbs
- March 2,2022
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- SUSTG Team
The latest edition of the monthly chartbook from Jadwa Investment found some encouraging data points on the Saudi economy, as observers of the Kingdom look for a strong year of growth in 2022.
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Market-Leading Pharmacy Firm Nahdi Seeks Up to $1.36 billion in Saudi Arabia’s Biggest IPO Since Aramco
- March 1,2022
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- SUSTG Team
Nahdi Medical Co, Saudi Arabia’s market leader in retail pharmacies, “aims to raise up to 5.11 billion riyals ($1.36 billion) in the country’s biggest initial public offering since Saudi Aramco’s listing in 2019,” Reuters reports.
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Saudi Aramco Finds Five New Gas Fields in Four Regions, SPA Says
- February 28,2022
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- SUSTG Team
Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said that Saudi Aramco has discovered new natural gas fields in four different regions across the Kingdom, according to information published by the Saudi Press Agency. The fields were discovered “in the central area of the kingdom, in the Empty Quarter desert, near its northern border and […]
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Veteran Saudi Journalist Khaled Almaeena Joins The 966 to Talk Ukraine, Energy Markets, and More
- February 25,2022
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- SUSTG Team
Khaled Al-Maeena, Saudi journalist, commentator, businessman and the former editor-in-chief of the Saudi Gazette and Arab News joins The 966 for Episode 28 to talk about Saudi Arabia’s role in energy markets, the war in Ukraine, and much more.
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MUST-READS
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Saudi Database to Boost Women Participation in Economic Sectors
It will do so by building a database for directing invitations to enable women to enter appropriate projects. At the Council of Saudi Chambers, a Women Empowerment Coordination Council (WECC) was established in accordance with a Cabinet decision. The decision stipulated the formation of a women’s committee with experience and competence to coordinate with the relevant authorities to encourage private sector establishments to find activities and fields of work for Saudi women.
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Heart of Arabia expedition to launch award for in-depth study of Saudi Arabia
The Heart of Arabia expedition is set to launch an initiative, the Philby Arabia Fund, in collaboration with the Saudi British Society, that would provide an award to a researcher, creative or historian seeking to study and promote further understanding of the Kingdom. The award honors British Arabist, explorer and writer Harry St. John Bridger Philby, who converted to Islam and took the name Abdullah. He undertook an information-gathering expedition across what is now modern-day Saudi Arabia in 1917.
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Saudi Arabia to allow some companies to operate without local headquarters
Saudi Arabia has announced some companies will be able to operate in the kingdom without having a headquarters in the country. Companies with foreign operations not exceeding 1 million Saudi riyals ($266,000) can operate in the kingdom without local headquarters, it was reported on Sunday. Firms competing for government contracts without any other bidders are also exempt from the rules.
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Saudi art movement stagnates in Jeddah as Riyadh flourishes
“One of the reasons behind the thriving art movement in Riyadh is the mega projects, such as Qiddiya and Diriyah. Moreover, artists can make their way to AlUla, NEOM, as well as a number of heritage and tourist sites,” Zarban said.
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Saudi hospital performs heart transplant for youngest patient in Middle East
The King Faisal Specialist Hospital and Research Centre’s pediatric cardiac surgery team performed consecutive heart transplants on two children within 24 hours in Riyadh. Before the surgeries, the transplant recipients — two Saudi girls, an under 8-month-old infant and a 19-month-old baby — were in critical condition due to heart failure, necessitating the installation of temporary artificial pumps. The girls were also placed in intensive care units while awaiting transplants.
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Saudi shares make positive start to 2023
Saudi Arabia's stock market rose on Sunday, starting 2023 on a positive note in line with the country's economic forecast, while region's other major markets were closed and many investors absent because of year-end holidays. Earlier last month Reuters reported that Saudi Arabia expects to post a second consecutive budget surplus in 2023, though down 84% from this year as an uncertain global economic outlook and lower crude prices look set to weigh on the top oil exporter's revenues. The kingdom approved a 1.114 trillion riyal ($296.39 billion)- budget for 2023, forecasting a surplus at 0.4% of gross domestic product, down from an expected 2.6% in 2022.
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Opinion: Kingdom, come: The case for partnering with Saudi Arabia
Israel, of course, will remain an important anchor of U.S. policy, but the region’s trajectory through the coming year and beyond will require Washington to secure its interests with more than just one linchpin. Arab and Muslim aspirations cannot be addressed, or harnessed, through Tel Aviv.
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Ronaldo ‘excited’ to start new chapter with ‘inspiring’ Saudi Arabia’s Al Nassr
The club announced details of the contract on Friday. The five-time Ballon D’or winner is now set to undergo a medical at Mrsool Park, home of Al Nassr, before completing any formalities. He will appear in the club’s yellow and blue colours in the Saudi capital Riyadh in the coming days.
- CBS Sports - Cristiano Ronaldo completes $75 million-per-year move to Saudi club: 'Vision that Al Nassr has is inspiring'
- Gulf Times - What we know of Ronaldo’s new Saudi Arabian club Al Nassr
- RFI - 'Historic moment': Saudis flock to buy Ronaldo shirts after Al Nassr deal
- Nairametrics - Breakdown of Cristiano Ronaldo’s Salary for Saudi Club Al Nassr
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Saudi start-up Manafa raises $28 million to fund expansion
Saudi FinTech start-up Manafa has raised 106 million Saudi riyals ($28.2 million) to fund its plans to offer new financial products across untapped sectors in the kingdom. The debt and investment company's series A funding round was led by Saudi venture capital firm STV and Saudi Aramco's venture capital arm, Wa’ed Ventures.
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Saudi banks to start implementing Basel III reforms in January
The reforms were issued by the BCBS in December 2017, which complements Basel III standards issued by the BCBS in 2010, with the aim of restoring creditability in the calculation of risk-weighted assets (RWA) by improving the sensitivity of the standardized approach (SA) used in calculating them, and reducing the reliance on the internal ratings-based approach (IRB).
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