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Saudi Arabia to Spend $4 Billion in Fight Against Coronavirus
- April 8,2020
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- SUSTG Team
Saudi Arabia will increase its spending to fight the spread of the coronavirus in the Kingdom, earmarking an additional 7 billion riyals (USD 1.8 billion) yesterday on top of the 8 billion riyals (USD 2.1 billion) earmarked at the beginning of the virus outbreak, according to Asharq Alawsat.
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Saudi Arabia’s PIF Discloses 8.2% Stake in Carnival Cruises
- April 7,2020
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- SUSTG Team
Saudi Arabia’s Public Investment Fund disclosed on Monday that it had acquired an 8.2% stake in Carnival Corporation & plc, operator of Carnival Cruise line, as of March 26, according to reports.
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Big Week for Oil Prices as Major Producers Scramble for a Deal
- April 6,2020
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- SUSTG Team
Saudi Arabia, Russia, OPEC countries and the United States are hoping this week a deal can be reached on production cuts to prevent the price of oil from falling further on international indices, but some analysts and market observers are skeptical that such a deal can come together given the current market dynamics.
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Jadwa Investment’s April 2020 Chartbook Shows Early Challenges for Saudi Economy Amid Global Coronavirus Outbreak
- April 2,2020
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- SUSTG Team
Jadwa Investment’s recently-released April 2020 Saudi Chartbook highlighting latest data for the Kingdom’s economy shows indications that the Coronavirus will have a negative impact on the economy as Saudi Arabia locks down to safeguard its citizens.
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Saudi Arabia Approves Government Asset Privatization on Local Stock Market
- April 1,2020
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- SUSTG Team
Saudi Arabia’s government approved the listing of government assets planned for privatization on its stock market, according to reports.
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Kingdom Will Pay for Coronavirus Treatments, KSA Cases Reach 1453
- March 30,2020
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- SUSTG Team
Saudi Arabia will finance treatment for anyone infected with the coronavirus in the Kingdom, the health minister said on Monday, as Saudi’s total cases reached 1453, according to Reuters.
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Saudi Arabia’s King Salman Chairs Virtual Gathering of G20 Countries to Combat COVID-19
- March 26,2020
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- SUSTG Team
Saudi Arabia’s King Salman chaired a virtual G20 summit via video teleconference with world leaders to address the COVID19 crisis under the G20 Saudi Arabia Presidency.
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Stunning Photos Show Saudi Arabia’s Empty Streets for COVID-19 Curfew
- March 25,2020
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- SUSTG Team
Saudi Arabia on Monday night began implementing a nationwide dusk-to-dawn curfew to halt the spread of COVID-19, urging the public to stay home unless necessary and closing restaurants, cinemas, malls, and other places of gathering.
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Saudi Arabia reports first death from COVID-19, 205 new cases
- March 24,2020
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- SUSTG Team
Saudi Arabia on Tuesday reported its first death from the coronavirus, and 205 new cases, bringing the total number of confirmed cases to 767, according to reports.
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Saudi Arabia Enacts Curfew as Kingdom Seeks to Best COVID-19
- March 23,2020
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- SUSTG Team
Saudi Arabia has enacted a curfew to stop the spread of COVID-19 within the Kingdom’s borders, prohibiting citizens and residents from being outside the home at night for three weeks starting Monday.
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MUST-READS
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Yemen Civil WarYemeni separatists extend control in south, Saudi-led forces strike capital
Southern separatists seized most Yemeni government security and military bases near the port of Aden on Tuesday after clashes between nominal allies that have complicated U.N. peace efforts, residents and officials said.
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EntrepreneurshipSaudi Arabian digital grocery firm Nana gets new capital injection
Middle East Venture Partners (MEVP) and Impact46 have invested in Nana Direct, a major online grocery buying and delivery platform serving 13 cities across Saudi Arabia. The $6.6 million (Dh24.2m) deal marks the debut investment for the partnership between MEVP, a Middle East-focused venture capital company that invests in the early and growth stages of companies, and Impact46, an asset manager in Riyadh focused on tech space. Other investors include Watar Partners, Saudi Venture Capital (SVC) and Wamda Capital.
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Yemen Civil WarClashes hit Yemen’s south, Saudi-led forces strike capital
Nayera Abdallah in Cairo and Reuters team in Aden; Additional reporting by Guy Faulconbridge
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Anti-ISIS CampaignCaptured ISIS fighters get short sentences and art therapy in Syria
The Syrian Kurdish allies of the United States are attempting a different approach. Their goal, Kurdish officials say, is to rehabilitate and reintegrate many of the Islamic State fighters in their custody, in hopes of deterring a revival of the militant movement.
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Middle East AviationAnalysis: Middle East Airlines – Strategic Diversifiers or Serial Destroyers of Capital?
In 2019 one would be hard pressed to find a frequent international traveler who hasn’t either flown with or heard of one of the four large Middle Eastern airline carriers (or ‘super-connectors’ as The Economist magazine coined this category in a recent article). The small group of airlines includes: Emirates Airlines, Qatar Airways, Etihad Airways and Turkish Airlines; we collectively refer to them in this post as ‘ME Carriers’.
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AfghanistanAfghanistan bomb attack in capital fuels fears ahead of presidential elections
A car bomb exploded Wednesday outside a main recruitment center for police in the Afghan capital, killing 14 people and wounding nearly 150, officials said, heightening security concerns ahead of planned elections next month.
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Solar PowerSaudi Arabia invites bids for $1.4bn solar PV projects with a combined capacity of 1.47GW
The Renewable Energy Project Development Office (REPDO) issues Request for Proposals (RFP) for Round Two of the National Renewable Energy Program (NREP) that consists of six solar PV projects. 60 companies pre-qualified to bid, 28 of which are from Saudi Arabia
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SyriaNew Round Of Syria Talks Under Way In Kazakh Capital
The two-day talks kicked off on August 1 as part of the so-called Astana negotiations track, which have been held in the Kazakh capital -- recently renamed Nur-Sultan -- in parallel to UN-sponsored negotiations aimed at ending the Syrian conflict, now in its ninth year.
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EconomySaudi Quarterly Budget Deficit Widens as Capital Spending Jumps
Saudi Arabia’s budget deficit widened in the second quarter as officials ramp up spending to stimulate a sluggish economy. The budget gap of 33.5 billion riyals ($8.9 billion) compared to 7.4 billion riyals in the same period last year, the Finance Ministry said in a statement on Tuesday. Spending rose 5% from the second quarter last year, with significant jumps in capital spending and outlays on subsidies and social benefits. Oil revenue dropped 5% year-on-year and non-oil revenue declined 4%.
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QiddiyaFirst look at Saudi Arabia’s entertainment capital: Video
For many years entertainment was very limited in Saudi Arabia. People used to travel- people used to spend money outside Saudi Arabia for entertainment. We want to bring this back into Saudi Arabia- …. We will also open up to the outside world so that tourism can come to Saudi Arabia- …We would create GDP contribution, we would also create jobs for the locals so it is an extremely important sector
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