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New Era of Cinema Begins Tomorrow with Soft Opening of First Theatre
- April 17,2018
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- SUSTG Team
Saudi Arabia is set to have a soft opening for a new movie theatre tomorrow in what is the beginning of a new era of cinema in the Kingdom, some three decades after the last theatre was shuttered. A private film screening tomorrow, a collaboration between the Saudi Development and Investment Entertainment Company (DEIC), which is […]
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Saudi Aramco Inks Two Deals Worth Nearly $50 Billion
- April 11,2018
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- SUSTG Team
Saudi Aramco inked two deals yesterday totaling a whopping $49 billion as the state-run oil company ramps up to a planned public offering. The Wall Street Journal and Reuters report that India and Saudi Arabia on Wednesday signed an agreement to set up a “mega” crude-oil refinery with a capacity to process 1.2 million barrels a day, […]
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Saudi Crown Prince Wraps Up U.S. Tour in Houston with Big Gulf Investments Eyed
- April 9,2018
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- SUSTG Team
Crown Prince Mohammed bin Salman wrapped up his unprecedented whirlwind tour of the United States with a stop in Houston to talk investments in the Gulf region. The Crown Prince visited Motiva Enterprises LLC, a wholly-owned downstream oil and gas subsidiary of Saudi Aramco, to witness the signing of MoUs worth between $8 billion to $10 billion with US […]
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With Entertainment Opportunities in Focus, Saudi Pitches to 250 Hollywood Elite
- April 5,2018
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- SUSTG Team
Saudi officials on Wednesday pitched ambitious entertainment industry plans to about 250 representatives from major Hollywood financiers and players in Los Angeles. The event, organized by the Saudi General Entertainment Authority at the Four Seasons Hotel in Beverly Hills, featured Saudi investment and private-sector leaders who “promised a cadre of services to facilitate U.S. investment and partnerships […]
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Now West, Crown Prince Salman Meets with Tech Elite in Seattle
- April 2,2018
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman met with some of the world’s most prominent technology executives in Seattle this weekend as part of his three-week long official visit to the United States. The powerful millennial has prioritized technology as part of Saudi Arabia’s Vision 2030 social and economic reform blueprint, and has used the newly-empowered Public […]
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Saudi Leadership Delighted at FTSE Inclusion for Tadawul; Billions Expected in Fresh Inflows
- March 29,2018
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- SUSTG Team
The Saudi Arabian stock market will join FTSE Russell’s emerging market index starting in March next year in a move that will likely bring billions of dollars of fresh investment into the Kingdom, Reuters reports. Saudi Arabia’s Crown Prince Mohammed bin Salman and Finance Minister Mohammed Al-Jadaan met with the Mark Makepeace, chief executive of […]
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Crown Prince Mohammed bin Salman meets with SoftBank CEO in New York
- March 27,2018
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- SUSTG Team
The Saudi Press Agency on Monday tweeted a photo of a meeting between Crown Prince Mohammed bin Salman and Softbank CEO Masayoshi Son, saying they are “looking for a number of investment opportunities.” Crown Prince Mohammed, who wore a western-style business suit, arrived in New York for a week of meetings after visiting Boston, Massachusetts. […]
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Reports: Crown Prince and Delegation to Meet with Tech, Defense, Banking Giants
- March 22,2018
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- SUSTG Team
Two separate reports from Bloomberg confirm that Saudi officials are eying meetings with major banking houses and technology giants during the Crown Prince’s nearly three-week long visit to the United States. The delegation currently visiting the United States will seek to meet with executives from Amazon, Apple, Google, Pfizer and other companies as they hunt for […]
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Crown Prince Mohammed bin Salman Kicks Off Two Week U.S. Visit Today with Meeting at White House
- March 20,2018
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman arrived in Washington, D.C. last night and will kick off a two week, multi-city U.S. tour with a meeting today at the White House. The Saudi embassy in Washington, D.C. issued a release providing further details on the trip, noting that in addition to meeting with President Trump […]
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Interview: Bechtel’s Millennial Saudi Country Manager Abdulrahman Al-Ghabban Discusses Company’s Activities and Ambitions in Vision 2030 Era
- March 19,2018
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- Lucien Zeigler
San Francisco-based Bechtel is one of the largest engineering, construction, and project management companies in the world, and it’s been doing business in Saudi Arabia for 75 years. Following the announcement of Saudi Arabia’s Vision 2030 economic and social reform plan, the company hired its first Saudi national as country head of its operations in the Kingdom […]
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MUST-READS
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Sustainable investment leaders gather for Riyadh summit
Thought leaders in sustainable investment will gather virtually in Riyadh on Thursday to explore one of the hottest topics in the world of finance — the move to environmental, social and governance (ESG) benchmarks by big global investors. The event, under the auspices of the Future Investment Initiative (FII) Institute, will focus attention on sustainable investment in the post-pandemic recovery, and the role of emerging markets like Saudi Arabia within the new investment philosophy.
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Analysis: Saudi $7 trillion investment goal puts spotlight on oil prices
Hit hard by lower crude revenues and the coronavirus crisis last year, the Saudi government cut its budget by around 7% for 2021 to tame a deficit which nearly tripled last year to 12% of gross domestic product (GDP) from 4.5% of GDP in 2019. It plans to reduce expenditure to 941 billion riyals in 2023 from 990 billion riyals this year, therefore Prince Mohammed’s target of 10 trillion riyals in government expenditure over the 2021-2030 period implies this year’s spending will remain unchanged on average over the next decade.
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Iraqi PM agreed on Saudi, UAE investment projects in Iraq, with value exceeding $6 billion: agency
Iraq’s prime minister agreed with Saudi Arabia and the United Arab Emirates on investment projects in Iraq, worth more than $6 billion, Iraq state news agency said on Tuesday.
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Arqaam Capital’s Meijer on NCB and Samba Merger, the Saudi Investment and Spending Plan
Jaap Meijer, Head of Equity Research at Arqaam Capital, discusses his recommendation to hold onto NCB shares amidst the NCB and Samba merger, the Saudi crown prince's investment and spending plan, and how petrochemicals could be a net winner.
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Foreign investment licenses in Saudi Arabia rise 60% in the last quarter of 2020
Saudi Arabia issued 466 investment licenses to foreign investors in the fourth quarter of 2020, a 60 percent jump on a year earlier, Asharq Business reported, citing Saudi government data. December was the busiest month, with 189 investment licenses issued. Foreign investment flows rose by more than 20 percent during the year.
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Saudi Aramco role in private investment drive guided by business not state, says CEO
The government has not spelled out how the programme will work in detail, but Nasser said private companies would seek incentives from the government - whether infrastructure, fiscal or regulatory support - and Aramco would determine whether to back a project as a partner. “This is a voluntary programme. It’s on the private sector to bring these projects, to ask for incentives,” he said.
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Saudi Arabia’s new private sector investment plans could dim allure for stocks
“The vast majority of activity in the Saudi market (>85%) is driven by Saudi retail investors,” said Khaled Abdel Majeed, MENA fund manager at London-based SAM Capital Partners. “These investors are by and large unsophisticated and driven by dividend yields. Reduce these yields and the market is likely to weaken. The yield now is in the range of 2-2.5% for the market as a whole so not much room for manoeuvre.”
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Saudi Arabia announces $1.3 trillion private sector investment push led by Aramco, SABIC
The move aims to mobilise the Gulf Arab state’s private sector to help wean the economy off its reliance on oil exports, which still account for more than half the state’s income, and develop new sectors to help create jobs for millions of Saudis.
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Saudi Arabia Reports Sharp Rise In Inward Investment To Its Highest Level In Four Years
The Central Bank of Saudi Arabia revealed in its latest set of monthly statistics that the kingdom attracted $1.87 billion in foreign direct investment (FDI) in the fourth quarter of last year. That was up 72% on the previous quarter and up 80% on the same period a year earlier. It also marked the highest level of quarterly FDI since Q4 2016, when the kingdom reported inflows of just over $2 billion.
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Goldman’s Saudi Investment Bank Chief Said to Leave for PIF Role
Over the past two years, though, Goldman has lost bankers including veteran Dubai-based dealmaker Hazem Shawki who joined Credit Suisse, and its regional CEO retired at the end of last year. Two other executives left this year to join Saudi Research & Marketing Group.
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