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Recent stories from sustg
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What it’s like to live in Saudi Arabia during Riyadh Season, PIF-backed Alat launches with eyes on a big impact, and more…
The boys are back for their normal format and catch up on just some of the seemingly endless new developments and storylines emerging from Saudi Arabia of late.
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Science Museum Group to create ‘museum hub’ in Saudi Arabia
The Science Museum Group is to create a Museums Hub in Saudi Arabia which it says will become a “center of excellence for science and culture and support the wider museum sector”. The new hub, to be located in Riyadh, hoped to enable the Science Museum Group to work with museum professionals, researchers and educators […]
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Saudi Family Office Mithaq Capital Buys Majority Stake in Struggling Retailer Children’s Place
Saudi Arabia’s Mithaq Capital, a family office owned by the Al Rahji Family, snapped up shares in struggling children’s retailer The Children’s Place to take a majority stake in the company, Semafor reports.
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House Prices in Riyadh Continue Climb into Record Territory — Knight Frank Report
Global real estate consultancy Knight Frank released today its Winter 2023/24 Saudi Arabia Residential Market Review, available now on the company’s website.
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A Look at Saudi Arabia’s Latest Tourism Figures
Tourism minister Ahmed bin Aqeel Al Khateeb recently revealed Saudi Arabia’s latest tourism figures — key numbers for the Kingdom as it looks to diversify its economy in part by attracting visitors to the Kingdom.
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Discussing Saudi Arabia’s growth and construction projects with Waleed Abdel-Fattah, President of the MENA Region at Hill International
Waleed Abdel-Fattah, President of the MENA Region at Hill International, joins The 966 to talk about Saudi Arabia’s building boom and Hill’s traction in KSA since entering the market to help build out what is now known as KAFD. Hill has 100 offices across 42 countries, and its main geographical areas are the US, Europe […]
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Saudi Arabia Leads Arab Push for Palestinian State as Anger over Israel’s Brutality Mounts in East and West
Saudi Arabia is pushing for Arab states to take “a common position on how to end Israel’s war on Hamas as fears grow over its attacks on the refugee haven of Rafah — while increasing calls for an independent Palestinian state,” Bloomberg reports.
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Local content rate seen at 43% in Saudi Arabia with a 20% jump in spending – PIF
The growth rate of local content in Saudi Arabia has now reached 43 percent, a top PIF official noted at the Private Sector Forum in Riyadh yesterday, noting that overall spending on content has increased by 20 percent.
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2nd PIF Private Sector Forum Concludes; Expands Private Sector Interaction with PIF Portfolio Companies
Saudi Arabia concluded its second edition of the “PIF Private Sector Forum” in Riyadh, an event that brought together stakeholders from the PIF and its portfolio companies to engage directly with private sector companies at the King Abdulaziz International Convention Center in Riyadh.
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Fitch Affirms Saudi Arabia at ‘A+’ with Outlook Stable
Fitch Ratings has affirmed Saudi Arabia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘A+’ with a Stable Outlook, the ratings agency said. “Saudi Arabia’s ratings reflect its strong fiscal and external balance sheets, with government debt/GDP and sovereign net foreign assets (SNFA) considerably stronger than both the ‘A’ and ‘AA’ medians, and significant fiscal buffers […]
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Saudi crown prince MBS delays visit to Pakistan for unspecified reasons
Saudi Arabia’s crown prince has deferred his visit to Pakistan for unspecified reasons, dimming the much-anticipated event that Islamabad was hoping would secure further investments and agreements between the two allies.
Saudi crown prince Mohammed bin Salman had been expected to visit Pakistan on 19 May, but according to media reports, that has now been delayed until a later date while Islamabad and Riyadh continue to work out an agreed-upon schedule.
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Cases of Botulism in Saudi Arabia linked to mayonnaise, product recalled
Saudi authorities on Saturday announced that the source of recent cases of food poisoning in Riyadh at a popular burger chain in the Kingdom has been tracked to a bacterium found in a mayonnaise product used by the chain. Last month, scores of cases of Botulism were reported in the Kingdom which were linked to the Hamburgini restaurant chain, prompting the authorities to take necessary measures and open a probe into the matter.
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Saudi Arabian universities need to embrace the AI revolution
The launch in December 2023 of the National Framework for Artificial Intelligence in Digital Learning by the National eLearning Center – set up in 2018 before the outbreak of the COVID19 pandemic, which has been a significant game changer in the distance education scenario – confirms the serious commitment of the Saudi establishment to the use of AI at all educational levels.
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Al Hilal wraps up Saudi League title; Jesus touts season as model of excellence
Al Hilal manager Jorge Jesus lauded the 2023/24 season as "spectacular" after the team clinched the Roshn Saudi League title with a 4-1 victory over Al Hazem. This win secured Al Hilal’s 19th Saudi Arabian league crown and solidified their unbeaten record this season, highlighting a dominant performance throughout.
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US Marines conduct long-range convoy throughout Saudi Arabia
The convoy, part of Exercise Native Fury 24, saw collaboration between US Marines and Sailors alongside Army Soldiers and members of the Royal Saudi Armed Forces. This exercise, sponsored by US Central Command and executed by US Marine Corps Forces Central Command, underscores the commitment to joint training and cooperation between allied nations. With over 600 personnel participating from various units and partner nations, Exercise Native Fury 24 encompasses a range of activities, including on-load and off-load operations using commercial maritime shipping, urban combat training, and dynamic training events across Saudi Arabia and the United Arab Emirates.
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US nears decision point on security deal with Saudis
The Biden administration is nearing a decision point on whether go ahead with a bilateral arms and security agreement with Saudi Arabia or hold off in hopes of eventually pairing it with a long-sought trilateral deal to normalize Saudi-Israeli relations. For now, administration officials say nothing can go forward until all the parts of the puzzle are in place, but with the Israel-Hamas war standing in the way of a normalization agreement, some analysts are arguing for an early bilateral deal that would help check Chinese influence in the region.
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Consulting firms’ grip on Saudi economy sparks local misgivings
But some officials fear Saudi ministries have become over-reliant on western consultancies, from the Big Four of Deloitte, EY, KPMG and PwC to more specialist strategy consulting firms, as disgruntlement grows about the outsiders’ ever-growing role in running the country. “I’ll be in a lot of meetings where Minister X or Deputy Minister X is presenting a strategy,” said one Saudi professional who has worked both in the government and at a top consulting firm. “And the first thing that they’ll say is: ‘Ahlan wa sahlan, welcome, and I would like to let you know that consulting firm Y prepared this presentation’ . . . They don’t even take ownership of it.”
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Iran to change nuclear doctrine if existence threatened, adviser to supreme leader says
Iran will change its nuclear doctrine if Israel threatens its existence, an adviser to Iran's supreme leader said, the latest comment by an Iranian official that raises questions about what Tehran says is its peaceful nuclear program. Tehran has always said it had no plans to obtain nuclear weapons. Western governments suspect that it wants nuclear technology to build a bomb; its nuclear program has been at the centre of a long-running dispute that has led to sanctions.
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Hamas delegates return to Qatar as deadlock continues in Gaza truce talks
The Hamas delegation to the Gaza truce negotiations left Egypt on Thursday, the group said, signalling the failure of efforts by mediators from the US, Egypt and Qatar to get Hamas and Israel to agree a deal to pause their seven-month-old war. In a statement, Hamas said Israel's military operations in the southern Gaza city of Rafah and this week's takeover of the Palestinian side of the border crossing there with Egypt were “aimed at cutting off the path of the mediators, escalating the aggression and the genocide war”.
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Egypt’s headline inflation slowed to 32.5% in April
Egypt’s annual urban consumer price inflation rate decreased to 32.5 percent in April from 33.3 percent in March, slowing slightly more than analysts had expected, data from the country’s statistics agency CAPMAS showed on Thursday. Month-on-month, prices rose by 1.1 percent in April, up from 1.0 percent in March. Food prices declined in April by 0.9 percent, though they were 40.5 percent higher than a year ago. A poll of 17 analysts had expected annual inflation to dip to a median 32.8 percent, continuing a slowing trend that started in September when inflation reached a peak of 38.0 percent.
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