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Saudi Arabia Red Sea Development Co. On Track to Clinch $3.7 ‘Green Loan’ from Local Banks
- April 20,2021
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- SUSTG Team
Saudi Arabia could be just weeks away from clinching the first significant funding package for a key part of Crown Prince Mohammed bin Salman’s program to diversify the Kingdom’s economy, Bloomberg reports. The Red Sea Development Co.’s 14 billion-riyal ($3.7 billion) loan is set to close with a small group of local banks including Saudi National […]
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‘Red Sea Rainforests’: Astronaut Captures Striking View of Saudi Arabia’s Northwest Coastline from Space Station
- March 30,2021
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- SUSTG Team
An astronaut captured a striking view of the northwest coastline of Saudi Arabia, showing the extent of a coral reef where Saudi Arabia hopes to boost sustainable tourism and where up to 260 reef species thrive, according to a post the NASA Earth Observatory blog.
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New Whitepaper Examines the State of Recycling, Waste Management in Saudi Arabia, UAE
- March 22,2021
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- SUSTG Team
A new whitepaper released online from the UK-based publication The Economist Intelligence Unit examines the state of waste management and recycling in Saudi Arabia and the UAE. The whitepaper, entitled Towards zero: Rethinking recycling in Saudi Arabia and the UAE, examines the state of waste management in Saudi Arabia and the UAE and identifies priorities for accelerating […]
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Latest Data: Improvements in Saudi Arabia’s Labor Market in Line with Pick-up in Overall Economic Activity
- February 3,2021
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- SUSTG Team
Unemployment in Saudi Arabia declined to 14.9 percent in Q3 2020, the latest date for which such data are available, down from 15.4 percent in Q2 2020, a recent report from the Riyadh-based Jadwa Investment finds, citing figures from the official General Authority for Statistics.
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Saudi Arabia’s Non-Oil PMI Ended 2020 with ‘Remarkable Rise’, TASI Flat in January – Jadwa Investment
- February 1,2021
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- SUSTG Team
Saudi Arabia’s non-oil Purchasing Managers Index (PMI) ended the year with a “remarkable rise” in December, with the index hitting its highest reading since November 2019, Jadwa Investment said in its latest Chartbook publication dated February 2021.
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Saudi Arabia’s Public Investment Fund Launches 5-Year Strategy, Including VRP Program for 2021-2025
- January 25,2021
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) announced a new five-year investment strategy, including its own Vision Realization Program (VRP) 2021-2025, with the goal of doubling its assets to 4 trillion riyals ($1.07 trillion) by 2025, according to comments made by Crown Prince Mohammed bin Salman in a public appearance on Sunday.
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Saudi Arabia’s Tourism Minister: Kingdom Needs to Inject $200 Billion into Industry — Report
- December 22,2020
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- SUSTG Team
Saudi Arabia’s tourism minister Ahmed Al-Khateeb dismissed naysayers of the Kingdom’s ambitious tourism plans, telling Arab News‘ Frank Kane in an exclusive interview that the Kingdom’s target of obtaining 100 million visits by 2030 is not overambitious with big investments in the industry.
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Saudi Arabia Registers Pfizer COVID-19 Vaccine for Import, Distribution in Kingdom
- December 10,2020
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- SUSTG Team
Health authorities in Saudi Arabia have registered the Pfizer-BioNTech COVID-19 vaccine for import and use in the country, state news agency SPA said on Thursday. Saudi Arabia’s Food and Drug Agency registered the vaccine. Procedures necessary for its import and use will begin, the statement said.
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Gradual Private Sector Recovery Underway in Saudi Arabia, Latest Data Indicates – Jadwa Investment
- December 1,2020
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- SUSTG Team
Saudi Arabia’s private sector is beginning to see signs of a gradual recovery, with non-oil PMI rising for the second consecutive month in October, Jadwa Investment says in its latest monthly Chartbook for the Saudi economy.
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Inflation, Unemployment Tick Up as Kingdom Seeks Path to Recovery for Economy – Report
- October 1,2020
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- SUSTG Team
Saudi Arabia saw an increase in unemployment and an uptick in inflation in recent months as the Kingdom seeks a pathway toward economic recovery following a period of low oil prices and the global Coronavirus pandemic, according to the most recent chartbook from Jadwa Investment.
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MUST-READS
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COP27: Israel harnessing DNA of bygone wild crops to enhance food supply
Scientists in Israel are creating a gene bank from the seeds of local wild crops, some that have survived for thousands of years since the birth of agriculture and that may help farmers deal with a harsher climate in the coming decades.
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World food supplies at risk as Russia withdraws from Black Sea deal
Russia's weekend backtrack from a U.N.-brokered deal to export Black Sea grains is likely to hit shipments to import-dependent countries, deepening a global food crisis and sparking gains in prices. Hundreds of thousands of tonnes of wheat booked for delivery to Africa and the Middle East are at risk following Russia's withdrawal, while Ukrainian corn exports to Europe will get knocked lower, two Singapore-based traders said.
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Saudi Arabia plans to localize 85 pct of food industry by 2030
The country aims to raise its fish production by 500 percent and its exports to 3 billion Saudi riyals (800 million U.S. dollars), and the date exports to 2.5 billion riyals by 2025, said Ali Al-Sabhan, supervisor general of the Entrepreneurship Department at the Ministry of Environment, Water and Agriculture, at the Gulf Entrepreneurs Forum held in the capital Riyadh.
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Saudi, Russian agriculture ministers discuss food security
The meeting was attended by the Saudi Grains Organization, Governor Eng. Ahmed Al-Faris and the Director General of the General Department for International Cooperation, Eng. Abdulaziz Al-Huwaish.
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Solutions to the Global Food Crisis
Industrialized agriculture arose in the United States and in other former European colonies. Now it has been exported worldwide. It’s worth examining industrialized agriculture in its home setting to understand how policy can either entrench it or open up new possibilities. The public and policymakers have a choice: We can either continue to prop up food systems as they currently exist or invest in resilient, democratic, and sophisticated food systems to prevent future crises.
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Saudi Arabia Underlines Support to IMF Efforts to Alleviate Global Food Crisis
During a meeting with IMF Managing Director Kristalina Georgieva, Al-Jadaan discussed areas of bilateral cooperation, including capacity development and the establishment of a regional office in Riyadh. According to Georgieva, talks reviewed the strong economic performance of Saudi Arabia and its basic support for the region, in addition to joint collaboration to address global challenges such as energy and food security.
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Africa Food Prices Are Soaring Amid High Import Reliance
Staple food prices in sub-Saharan Africa surged by an average 23.9 percent in 2020-22—the most since the 2008 global financial crisis. This is commensurate to an 8.5 percent rise in the cost of a typical food consumption basket (beyond generalized price increases). Global factors are partly to blame. Because the region imports most of its top staple foods—wheat, palm oil, and rice—the pass-through from global to local food prices is significant, nearly one-to-one in some countries.
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Catastrophic floods: Understanding the gravity of Pakistan’s health and food crises
An estimated 16 million children have already been impacted by the floods and millions remain in need of lifesaving support, according to figures from the United Nations International Children’s Emergency Fund (UNICEF). Delivering that support is an enormous task. Cases of malaria, dengue, and skin diseases continue to climb, and water borne diseases have pushed daily patient numbers to as high as 90,000 in Sindh.
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Saudi consumer prices up 3% in August on higher food, transport
Saudi Arabia's consumer price index (CPI) rose 3% in August from a year earlier, official data showed on Thursday, accelerating from a 2.7% increase in July. Food and beverages and transport prices were again the main drivers of inflation, both rising 4% in August, the General Authority for Statistics said in a statement. Meat prices were up 6.7%, pushing up the rate for food and beverages, which make up 18.8% of the consumer basket.
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Food Security: Europe forced to turn to OCP to meet its fertilizers needs
One of the few viable alternatives to Russian fertilizer is Morocco, which already accounts for 40% of Europe’s imports of phosphate, said Jacob Hansen, Director General of Fertilizers Europe. Hansen made the remarks to European press as the global battle for fertilizer, a vital commodity for food production, has emerged as one of the by-products of the Russia/Ukraine conflict, leaving states in Europe and elsewhere scrambling for alternative suppliers.
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