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Saudi Arabia Aims for over 1000% Increase in Entertainment Sector Employment this Year as Massive Investment Planned
- February 22,2018
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- SUSTG Team
Saudi Arabia is betting big on the entertainment sector to boost job creation and provide for a more vibrant society with a whopping $64 billion planned to spend in the next decade, according to the head of the General Entertainment Authority Ahmed Al-Khatib. Al-Khatib said that the investment and development is already underway, and that the […]
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Russian, Chinese Interests ‘Eager’ to Invest in Saudi Aramco IPO as Cooperation Heats Up
- February 14,2018
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- SUSTG Team
The head of the Russian Direct Investment Fund (RDIF) said in Riyadh today there is “significant interest” to invest in the forthcoming Aramco IPO from Russia and from China, according to reports. Several banks and other groups in Russia are interested in investing in shares of Aramco, according to Bloomberg, which reported comments from Kirill Dmitriev, chief […]
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Saudi Embassy Spokeswoman: ‘The Kingdom is not Easternizing or Westernizing, it’s Modernizing’
- February 6,2018
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- SUSTG Team
The first spokeswoman for the Royal Embassy of Saudi Arabia, Fatimah Baeshen, said in an interview that the Kingdom is not sacrificing culture or values with its Vision 2030 economic and social reform program and that the program has “something for everyone” in Saudi Arabia. The well-spoken Baeshen, who was appointed by Saudi Arabia’s Ambassador to the […]
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Saudi Arabia’s King Salman Orders $2b ‘Deposit’ to Yemen to Shore Up Currency
- January 18,2018
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- SUSTG Team
Saudi Arabia’s King Salman ordered a $2 billion transfer to the Yemeni central bank, according to reports, as the Kingdom looks to shore up the economy of its war-torn southern neighbor. The Saudi Ministry of Culture and Information (MoCI) said in a statement that the money is meant “to address the deteriorating economic situation” in Yemen. “All […]
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U.S. to Ramp Up Crude Oil Production by 10% in 2018
- January 4,2018
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- SUSTG Team
The United States is poised to ramp up crude oil production by 10% in 2018 to about 11 million barrels per day, research firm Rystad Energy has said, which would make the U.S. the world’s largest producer. The expected surge in shale oil output “should allow the United States to dethrone Russia and Saudi Arabia as […]
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Two Top Officials in Crackdown Sweep Return to Public Eye
- January 2,2018
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- SUSTG Team
Two top officials detained in last year’s crackdown on corruption in Saudi Arabia have returned to the public eye following settlement payments, according to reports. Prince Miteb bin Abdullah, former head of the Saudi national guard and son of the late King Abdullah, was photographed alongside Crown Prince Mohammed bin Salman at a horse race […]
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‘Largest Ever’ Budgeted Expenditure for Saudi Arabia in 2018 as Kingdom Looks to Propel Growth
- December 20,2017
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- SUSTG Team
Government officials unveiled Saudi Arabia’s largest budgeted expenditure ever as the Kingdom looks to propel economic growth following two years of reduced spending. Compared to previous years, the budget is expansionary. Saudi Arabia will spend SR88 billion ($23.5 billion) more in 2018 compared with 2017. The announcement was made at a press conference at which Finance Minister Mohammed […]
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Nearly $20b in Stimulus for Saudi Economy in 2018
- December 14,2017
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- SUSTG Team
Saudi Arabia has unveiled a stimulus package to begin next year with money to support housing construction as well as fee waivers for small businesses. Saudi Arabia’s King Salman issued a royal decree approving 72 billion riyals ($19.2 billion) worth of measures to stimulate growth in the private sector next year (2018), and 200 billion […]
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Westinghouse in Talks with Other U.S. Companies to Bid for Saudi Nuclear Opportunities, Reuters Reports
- November 21,2017
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- SUSTG Team
An exclusive Reuters report reveals that Westinghouse is in talks with other U.S-based companies to form a consortium to bid in a multi-billion-dollar tender for two nuclear power reactors in Saudi Arabia, citing three industry sources. If the consortium forms and bids, it would have stiff international competition in countries like South Korea, France, and Russia, who […]
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UK Government Agrees to $2b Loan Guarantee For Saudi Aramco
- November 9,2017
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- SUSTG Team
The U.K. government agreed to a $2 billion loan guarantee for Saudi Aramco as competition to host the likely largest in history IPO heats up, according to Bloomberg. “The unusually large export credit guarantee, designed to finance the purchase of British goods, will be seen by many as an attempt to help woo the IPO to the […]
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MUST-READS
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Saudi DissentSaudi royal calls for regime change in Riyadh
The letters in Arabic calling for the overthrow of the king have been read more than 2m times. The letters call on the 13 surviving sons of Ibn Saud – specifically the princes Talal, Turki and Ahmed bin Abdulaziz – to unite and remove the leadership in a palace coup, before choosing a new government from within the royal family.
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Arab ArtArab Art Redefined: How art collector Sultan Sooud Al-Qassemi is trying to change the narrative
Eventually, he explains, his interest in breaking news had died down and he shifted his attention to collecting and promoting modern and contemporary art from the Arab world. He sees it as a continuation of the ideals of the Arab Spring, he says, because the art tends to be political — and it defies traditional definitions set by the West.
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Iran: LeadershipCommentary: Dead men’s shoes: Gradual change as Iran’s founders die
It seems that the political caste of the Islamic Republic is changing, and young clerics and non-clerics are going to replace the old.
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InvestmentBlackRock introduces first Saudi Arabia exchange-traded fund
BlackRock Inc has introduced an exchange-traded fund investing in Saudi Arabia, marking the first of its kind.
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Anti-ISIS CampaignHow ISIS Territory Has Changed Since the US Bombing Campaign Began
Over the past year of U.S. and allied airstrikes, combined with ground offensives by local forces, the Islamic State has lost territory in some areas and gained it in others.
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Climate ChangeWho Will Suffer Most from Climate Change?
Poor farmers will feel the sting of these changes at the same time the world needs their help to feed a growing population. By 2050, global food demand is expected to increase by 60%. Declining harvests would strain the global food system, increasing hunger and eroding the tremendous progress the world has made against poverty over the last half-century.
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Refugees: GermanyGermany’s small yet important change to the way it deals with Syrian refugees
The regulation usually requires asylum seekers to apply for asylum in the first E.U. country they reach. It also allows other E.U. countries to deport asylum seekers back to that country.
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Human MigrationClimate change and the growing challenges of migration
Certainly, the disintegration of states resulting from political, ethnic, and religious conflicts are the proximate causes of this migration surge, but evidence from the new climate-economy literature suggests that weather has also played a role and will certainly play a growing role as our planet warms.
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Saudi Oil PolicyPerspective: Will Saudi Arabia Change Oil Policy?
The government’s return to local debt markets for the first time in eight years will not only bridge its financing gap but will also represent a positive development for the Kingdom, in our view.
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IraqOpinion: This Could Be the Change Iraq Has Been Waiting For
Twelve years after Saddam Hussein was toppled, rampant corruption has collided with a serious financial crisis and the ongoing war against ISIS, prompting even Iraq’s most reclusive senior Shia cleric to warn that drastic measures were needed.
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