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Saudi Arabia’s Stock Market Revamps Corporate Structure Ahead of Highly-Anticipated IPO
- April 7,2021
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- SUSTG Team
Saudi Arabia’s stock exchange, the Tadawul, has announced a revamped corporate structure as it prepares for a much anticipated IPO, converting to a holding company called the Saudi Tadawul Group, according to reports. The change was announced by the Tadawul Group CEO Khalid al-Hussan said on Wednesday.
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Jadwa Investment Launches $266m Fund to Invest in Riyadh’s Real Estate Market
- April 6,2021
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- SUSTG Team
Saudi Arabia’s Jadwa Investment has reportedly launched a $266m fund to invest in Riyadh’s real estate market, hoping to develop more than 1,500 residential units through several apartment complexes, targeting mid- to high-income households, the UAE-based The National reports.
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Vice Media Group to Partner with SRMG, Open Office in New Trendy Arts and Culture District in Riyadh
- April 2,2021
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- SUSTG Team
Edgy global media brand VICE Media Group today unveiled the expansion of its commercial operations into Riyadh with the launch of a new local office and partnership with top Saudi media brand, the Saudi Research and Marketing Group (SRMG).
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Could Saudi Arabia’s Recycling Sector Be Worth More than $18bn?
- April 1,2021
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- SUSTG Team
The CEO of Saudi Arabia’s biggest waste company, Saudi Investment Recycling Company (SIRC), said that the Kingdom’s recycling market size could reach $18 billion as the sector remains underdeveloped, according to a report Arab News.
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Unemployment for Saudi Nationals Nears Pre-Pandemic Levels in Q4 2020
- March 31,2021
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- SUSTG Team
Unemployment among Saudi nationals fell to 12.6% in the fourth quarter, “moving closer to pre-pandemic levels as coronavirus cases in the kingdom declined and business picked up,” Bloomberg reports, citing data from the General Authority for Statistics. The figure represents a drop of 2.3% from 14.9% in the Q3 2020.
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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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Saudi Crown Prince Announces Two Massive Green Initiatives to Fight Climate Change
- March 29,2021
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman launched two initiatives over the weekend to make Saudi Arabia a significant contributor in the global fight against climate change, the Saudi Press Agency reports.
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US-based Railcar Company Greenbrier the Latest to Move Regional HQ to Riyadh
- March 25,2021
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- SUSTG Team
US-based railcar company Greenbrier is one of the latest American companies to be moving or building their regional Headquarters in Riyadh, the company said, as it looks to profit off the opportunities presented by the Kingdom’s Vision 2030 economic and social reform plans. The NYSE-listed Greenbrier is one of 24 companies that have recently agreed […]
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Princess Reema bint Bandar Headlines 2nd Day of Virtual U.S.-Saudi Business Forum; Calls for a ‘Restart’ in U.S.-Saudi Relations
- March 24,2021
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- SUSTG Team
Saudi Arabia’s Ambassador to the United States, Princess Reema bint Bandar Al-Saud, gave the keynote address this morning at the virtual U.S.-Saudi Business forum and discussed the path forward for U.S.-Saudi business and diplomatic relations, women empowerment, and rebounding from the effects of the pandemic on the global and local economy. The comments, delivered virtually […]
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Japanese Firm Eyes Saudi Arabia as Next Mega-Solar Project Destination – Report
- March 23,2021
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- SUSTG Team
Japanese trading house Marubeni is looking to open a megasolar plant in Saudi Arabia by June 2023, the company’s first solar project in the country and fourth in the Middle East, the Japanese news website Nikkei reports. Marubeni has formed a joint venture with Saudi utility Al Jomaih Energy and Water for the plant, which is […]
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MUST-READS
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Flat6Labs, SVC launch $40 million Startup Seed Fund in Saudi Arabia
Saudi Venture Capital (SVC), one of the most prominent venture investment ecosystem development companies in KSA, has signed a new investment agreement with Flat6Labs, the leading seed and early-stage venture capital firm in the MENA region, to introduce the “Startup Seed Fund”. The fund aims to support startups with growth potential and provide more than 20 Saudi startups annually with seed capital over the next three years, in addition to a number of other benefits.
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Lockheed Martin Wins $4.4 Billion Contract To Supply Radar, THAAD Air Defense System To US, Saudi Arabia – Pentagon
US defense giant Lockheed Martin has won a more than $1.4 billion modification contract extension to produce more Terminal High Altitude Area Defense (THAAD) interceptors for the United States and Saudi Arabia, the Defense Department announced in a press release.
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‘Tash Ma Tash’ still rules hearts even as new Saudi shows hit screens
The show ran over 18 seasons and starred Saudi duo Nasser Al-Qasabi and Abdullah Al-Sadhan and a further 109 renowned actors and actresses from the Kingdom, Jordan, Syria, Iraq, Egypt, and Lebanon. Several leading directors from the Arab world were involved in its production, including the late Saudi director Abdul Khaleq Al-Ghanim, who directed 13 seasons.
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Talks on Yemen war start in Saudi, without Huthi rebels
The week-long discussions in the Saudi capital are hosted by the six-nation Gulf Cooperation Council and will include United Nations envoy Hans Grundberg and Washington's Tim Lenderking. The talks come after the Saudi-led military coalition backing the Yemeni government said it would cease military operations during Ramadan, which starts in coming days.
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Saudi Arabia’s start-up sector to see $162m in new investments
Saudi Arabia issued licences to six start-up entities that have collectively pledged to invest up to $162.2 million. Four start-ups, including re-commerce platform Cartlow, second-hand marketplace Soum, delivery company Rabbitmart and dental service Smileneo received licences from Saudi Arabia’s Ministry of Investment. Licences were also granted to imVentures, a Riyadh-based venture capital fund, and Silicon Valley-based early stage accelerator Plug and Play.
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Saudization of these professions in Saudi Arabia starting Tomorrow
Starting Tomorrow, Monday, the implementation of the 2nd phase of localizing supplies and supermarkets in the Kingdom begins, as work in sales outlets is limited to 100% Saudi national in the professions of section supervisor.
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Yemen warring parties discuss possible prisoner swap including 16 Saudis
Yemen warring parties are discussing a possible prisoner swap which could see hundreds of detainees freed, including 16 Saudi nationals and a brother of the Yemeni president, officials said on Monday. A deal between the Saudi-led coalition and the Iran-aligned Houthi movement could help de-escalate violence and boost U.N. efforts to broker a truce during the Muslim holy month of Ramadan, which starts in April, analysts say.
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Saudi Arabia to host the 7th Asian Indoor Martial Arts Games 2025
As Saudi Arabia is hosting the 7th Asian Indoor Martial Arts Games in 2025 for the first time in its history, President of the Saudi Olympic & Paralympic Committee (SOPC), HRH Prince Abdulaziz Bin Turki Al Faisal, and Vice-Governor of Riyadh Province, HRH Prince Mohammed Bin Abdulrahman Al Saud alongside the OCA Acting President Mr. Raja Randhir Singh signed the hosting contract of the Asian Indoor Martial Arts Games at the Riyadh Green Halls in Prince Faisal bin Fahad Olympic Complex.
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Saudi Arabia’s Ministry of Investment and PIF-backed Jada partner to support start-ups
Catalyse Saudi will host a series of events, the first of which will take place this month in Jeddah and Riyadh under the theme of disruptive technology. The events will bring foreign and Saudi entrepreneurs and investors together for networking, learning and engagement opportunities, the ministry and the fund said in a joint statement.
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National Museum welcomes American Chamber of Commerce in Saudi Arabia for night of arts, culture and entertainment
The National Museum is divided into eight galleries, each of which depicts a different historical period. The galleries are arranged in chronological order, starting with the creation of the universe through to the unification of Saudi Arabia and the growth of Hajj. Tarik Solomon, chairman of the American Chamber of Commerce in Saudi Arabia, said that the museum was a place that visitors would not forget.
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