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NEOM Emerges as Most Desired Real Estate Destination for Saudis — Report
- February 24,2022
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- SUSTG Team
Saudi Arabia’s forthcoming new megacity NEOM on the Red Sea coast has been named as the most preferred location to buy a home by the kingdom’s homeowners, first-time buyers and high-net-worth-individuals (HNWI), according to Knight Frank’s annual 2022 Saudi Residential Survey.
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Oil Prices Near 8-Year Highs as Russian Invasion of Ukraine Roils Markets
- February 23,2022
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- SUSTG Team
Oil prices reached 8-year highs, approaching $100 a barrel on the Brent crude index, as Russia’s Vladamir Putin ordered troops to invade neighboring Ukraine.
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Saudis Worldwide Mark Inaugural Celebration of Founding Day
- February 22,2022
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- SUSTG Team
Saudi Arabia held celebrations on Tuesday to commemorate for the first time the Kingdom’s foundation nearly 300 years ago, “choosing a date that downplays the central role played by clerics from the ultra-conservative Wahhabi school of Islam” and instead focusing on the date in 1727 when Mohammed bin Saud, founder of the first Saudi state, took over […]
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Top PGA Tour Golfers Balk at Saudi-backed Super Tour, Dealing Blow to Organizers
- February 21,2022
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- SUSTG Team
Many of the top golfers in the world are saying “no” to joining a Saudi-backed rival to the U.S.-based Professional Golfers Association (PGA) tour.
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Amr Khashoggi joins The 966 to talk Saudi foreign policy, Vision 2030 and more
- February 18,2022
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- SUSTG Team
Saudi businessman and philanthropist Amr Khashoggi, chairman of Amkest Group, joins The 966 to talk about some interesting developments in the mining and minerals sector in Saudi Arabia, the red hot Saudi IPO market, Saudi foreign policy, Saudi Arabia’s economy and Vision 2030 and many more topics in episode 27 of the program.
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Jadwa Investment: Saudi GDP to Grow 7.7% in 2022
- February 17,2022
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- SUSTG Team
Saudi Arabia’s economy will “exhibit strong levels of growth in 2022, as pandemic related uncertainty and volatility seen over the last couple of years diminishes,” according to a new report from Riyadh-based Jadwa Investment, which said that the Kingdom’s overall GDP will expand by 7.7 percent in 2022.
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Saudi Moves Further into FinTech Space with PIF Backing of New Digital Bank Called D360
- February 16,2022
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- SUSTG Team
Saudi Arabia’s Public Investment Fund is investing in the creation of a new digital bank being established in the kingdom with a capital of 1.65 billion riyals ($440 million), according to a report from Bloomberg.
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Saudi Arabia’s Capital to Get Yet Another New Development: The Avenues Riyadh
- February 15,2022
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- SUSTG Team
The list of new or revitalized real estate developments in Riyadh grew this week with the announcement of a new multi-purpose district called “The Avenues Riyadh,” located in the city’s north west area.
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Saudi Arabia Transfers 4% of Aramco Shares Valued at $80 billion to Public Investment Fund
- February 14,2022
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- SUSTG Team
Saudi Arabia transferred shares worth about $80 billion in oil giant Aramco to the Public Investment Fund as part of efforts to move forward economic diversification efforts, according to reports.
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The Saudi Games 2022, air pollution’s cost, and King Salman’s pivotal role in Saudi history with guest David Rundell
- February 11,2022
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- SUSTG Team
David Rundell, author of Vision or Mirage: Saudi Arabia at the Crossroads joins this week for Episode 26 of The 966. The hosts and David talk about the Saudi Games 2022, the cost of air pollution in the “MENA region,” then discuss the important role of King Salman in the history of Saudi Arabia and […]
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MUST-READS
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Couple cycle across Saudi Arabia as part of epic 9-month expedition
Traveling only by bicycle and the occasional ferry, the pair carry everything they need to sustain themselves, subsisting on a diet of mainly rice and vegetables (and the odd soft drink to boost calories), spending most nights camping out in tents. They have crossed deserts, faced rain and thunderstorms, become desperately stuck in deep mud, and even witnessed protests in Iran over the death of Mahsa Amini, and yet the pair don’t see any end to the adventure in the near future. Their voyage started off in Hessen, central Germany, in April, when they decided that they needed a change from the routine of their daily lives working at the German environmental protection authority.
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Engie takes part in largest auction of carbon credits in Saudi Arabia
In total, 15 Saudi and regional entities took part in the auction, including Aramco, Olayan Financing Company, and Saudi Arabian Mining Company (Ma’aden), which purchased the most significant number of carbon credits.
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Iranian Minister Says Spoke to Saudi Counterpart at Jordan Conference
Iran's foreign minister said on Wednesday he spoke with his Saudi counterpart on the sidelines of a conference in Jordan the previous day, the highest-level encounter reported between officials from the rival states since they cut ties in 2016. The Middle East's leading Shi'ite and Sunni Muslim powers, Saudi Arabia and Iran have been on opposing sides of conflicts across the region including in Syria and Yemen. Iraq has hosted five meetings between Saudi and Iranian officials since last year in a bid to ease tensions, the last of which was in April.
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Saudi female graffiti artist hopes to showcase artwork across Kingdom
Saudi female graffiti artist Noura bin Saidan has unveiled her latest mural at the Riyadh Zoo. It took Saidan two weeks to complete the 40-meter-long and 30-meter-high mural. Speaking about her work, she described it as a “story about the relationship between animals and humans.”
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Saudi Electricity Co. signs contracts worth $720m to implement smart grid projects
The Saudi Electricity Co. signed two contracts at a combined value of SR2.7 billion ($720 million) with a Chinese and a Saudi company for a project to supply and install 60,000 smart devices to the Kingdom’s electricity distribution network, the Saudi Press Agency reported. The project also involves connecting the country’s distribution network with advanced control centers over the next two years as SEC looks to automate and develop electrical networks in line with its digital transformation strategy.
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Chinese EV start-up Enovate to build plant in Saudi Arabia as President Xi’s visit to Riyadh begins to pay off
Enovate Motors, a Chinese electric vehicle (EV) start-up, plans to build a factory in Saudi Arabia, following a state visit by President Xi Jinping to the kingdom. The carmaker, which counts Shanghai Electric Group as an early investor, said on Monday that it had signed an agreement with Saudi Arabian authorities and joint-venture partner Sumou to set up an EV plant with an annual capacity of 100,000 units. The factory, which will include a research and development centre, will cost about US$500 million, Enovate said in a statement.
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Saudi Arabia’s investor event to boost partnership opportunities for SMEs and start-ups
Catalyse Saudi is part of the country's push to boost SMEs' contribution to gross domestic product to 35 per cent in 2030, from 20 per cent now, as set out in the kingdom's Vision 2030 programme and National Investment Strategy. The ministry "aims to promote Saudi Arabia as a world-class investment destination ... this edition will focus on the future of the entertainment industry, bringing together guests to discuss opportunities across sectors such as gaming, media, music, sport, design, tourism and hospitality, with a specific lens on increasing investment in Saudi Arabia", it said.
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Perspective: Secretary Xi’s Visit to Saudi Arabia Doesn’t Look Like a Threat to U.S.-Saudi Partnership
Without doubt Saudi Arabia is using the Xi visit and the growing relationship with China as part of a series of moves to effectively announce itself as an emerging mid-level power in an increasingly multipolar world. The United States appears to be adjusting to this new reality by emphasizing the benefits of burden sharing and cooperation on mutually shared goals rather than a protection plan based on security for oil. That’s a far healthier and sustainable approach to the relationship than trying to persist with outmoded notions of how the relationship works
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China and Saudi Arabia Sign Strategic Partnership as Xi Visits Kingdom
Under the agreement, the two sides agreed to hold meetings between their heads of state every two years, according to the Chinese news agency Xinhua. Beijing also agreed to list Saudi Arabia as a destination for group travel and to expand cultural and people-to-people exchanges, Mr. Xi said on Thursday during his talks with Prince Mohammed.
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Egyptian e-commerce startup SIDEUP raises $1.2m seed round for Saudi expansion
Egyptian startup SIDEUP, which provides a suite of services for e-commerce businesses, has raised US$1.2 million in seed funding from regional and global investors to help it expand into Saudi Arabia.
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