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Exclusive: Engineering Giant Bechtel Launches New Women’s Empowerment Program in Saudi Arabia
- July 3,2018
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- SUSTG Team
Global engineering and procurement giant Bechtel Corporation will launch a new pioneering program for women’s empowerment in Saudi Arabia, set to be announced this month and rolled out this fall, SUSTG has learned. Working with Al Khaleej Training and Education organization, the program aims to increase women’s participation in the country’s workforce through training and […]
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Saudi Arabia’s Grain Organization will Privatize Four Mills as Reforms Reach More Sectors
- June 28,2018
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- SUSTG Team
Saudi Arabia’s state grain buyer, the Saudi Arabian Grains Organization (SAGO), said on Thursday it would start accepting applications for qualification of potential investors interested in the sale of its four mills on Aug. 26 as the push toward privatization across several sectors in the Kingdom continues. Reuters reports that the agency “will also make […]
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In Win for Saudis, OPEC Agrees On ‘Modest’ Increase in Oil Production
- June 22,2018
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- SUSTG Team
The Organization of the Petroleum Exporting Countries (OPEC) agreed on Friday on a modest increase in oil production from July, Reuters reports, after its de-facto leader Saudi Arabia “persuaded arch-rival Iran to cooperate” amid calls from major consumers to help reduce the price of crude and avoid a supply shortage. The increase followed days of […]
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Saudi Digital Media Startup Raises $9 Million Series A Round with 20m Subscribers
- June 18,2018
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- SUSTG Team
A Saudi Arabia-based digital media company raised $9 million in a Series A round of funding, according to reports. Telfaz11, with over 20 million subscribers on their network, and reporting more than 2 billion views on YouTube, is a leading Arabic Multi-Channel Network (MCN) which seeks to change the face of home-grown online entertainment. “As a pre-eminent […]
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Saudi Arabia Set to Launch $32 Billion Plan to Jumpstart Housing Market
- June 14,2018
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- SUSTG Team
Saudi Arabia’s Public Investment Fund-backed mortgage company, the Saudi Real Estate Refinance Company (SRC), plans to roll out new funding soon to the Kingdom’s lenders to boost home ownership in Saudi Arabia, according to a report. Announced in October 2017, the creation of the SRC and the overall plan for $32 billion to boost home ownership […]
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Saudi Ambassador to the United States Prince Khaled bin Salman Issues Statement on Hodaidah
- June 13,2018
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- SUSTG Team
Saudi Arabia’s ambassador to the United States HRH Prince Khaled bin Salman has issued a statement on Twitter concerning the recent moves by the Kingdom and its Arab allies on the port city of Hodaidah in Yemen, blasting the Iran-backed Houthi rebels for worsening the humanitarian situation in the war-torn country. Yesterday, Saudi Arabia and […]
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Privatization and Vision 2030: Report Looks at Opportunities, Challenges for Saudi Arabia’s Ambitious Plans
- June 12,2018
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- SUSTG Team
A recently released Jadwa Investment report lays out in detail Saudi Arabia’s ambitious privatization plans as part of its Vision 2030 economic and social reform program and identifies opportunities and challenges for decision-makers. The research report, entitled “Privatization and Vision 2030” which was emailed in a note to investors by Jadwa’s head of research Dr. Fahad Alturki, […]
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Saudi Arabia, UAE and Kuwait Come to Jordan’s Aid with $2.5b after Weekend Summit
- June 11,2018
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- SUSTG Team
Saudi Arabia and two Gulf nations agreed to a $2.5b aid package to help support Jordan’s economy after a proposed income-tax increase sparked some of the largest protests seen in the region since the Arab Spring protests in 2011. The package of aid will include a deposit in the Central Bank of Jordan, guarantees to the World […]
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King Salman Extends Eid Al-Fitr Holiday Break
- June 7,2018
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- SUSTG Team
Saudi Arabia’s King Salman issued a directive to extend this year’s Eid Al-Fitr, the end of the Holy month of Ramadan holiday, to give government employees and military staff a full working week off to mark the holiday, which falls at the end of Ramadan. Although the exact start date of Eid has yet to be officially announced, […]
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Jadwa Investment Chartbook: SAMA Reserves Rise and Other Positive Signs for Saudi Economy
- June 5,2018
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- SUSTG Team
The latest monthly edition of the Saudi Chartbook published by Jadwa Investment finds positive indicators for the Saudi economy as growth picks up in the Kingdom. According to Jadwa, non-oil exports in March increased by 1.8 percent year-on-year, the Kingdom’s FX reserves soared to the largest monthly increase since October 2013, and while inflation ticked […]
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Israel-SyriaIsrael deploys border reinforcements as Syrians flee strikes
Israel has deployed artillery and armoured reinforcements along its northern border with Syria, the Israel Defence Forces said on Sunday, as tens of thousands of Syrians fled towards its borders and those of Jordan.
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Israel-PalestineIsraeli jets strike nine Gaza targets in response to ‘explosive kites, balloons’
Israeli jets struck nine targets belonging to the Islamist Hamas group in the northern Gaza Strip early on Monday in response to incendiary kites and balloons Palestinians sent from the territory that have damaged Israeli property, the military said.
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World Cup: 2018World Cup: Diplomatic Crisis in Middle East Stokes Fears of Piracy
With just a day to go before kickoff, Saudi authorities have yet to strike a deal with Qatar’s beIN Media, which holds broadcasting rights to all 64 World Cup matches for the Middle East and North Africa.
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Saudi-ChinaSaudi payload on Chinese satellite to facilitate lunar exploration
The satellite is equipped with a payload for a space sensory system developed by Saudi engineers and researchers for filming and taking photos of the Moon.
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Saudi WorkforceShopping Malls should employ only Saudi Nationals
A statement from the minister for labour and social development, posted on Twitter, defined malls as “closed commercial centres”, but did not elaborate on the number of jobs affected or a timeline for implementation.
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ME JobsIMF: Mideast not growing fast enough to reduce unemployment
The International Monetary Fund said Wednesday that nearly a quarter of the Middle East’s youth are unemployed, warning that unless deeper reforms are made, millions of young people entering the labor market each year may not find jobs.
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U.S. DiplomacyPompeo Vows to Reinvigorate Diplomacy, Restore U.S. ‘Swagger’
He didn't mention Rex Tillerson by name. But the contrast was clear as new Secretary of State Mike Pompeo arrived at the State Department on Tuesday vowing to reinvigorate American diplomacy and help the United States get "back our swagger."
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Saudi-IsraelIsraelis on trial in Saudi Arabia for alleged plot to attack hajj
Two Arab Israelis went on trial in Saudi Arabia on Monday for allegedly plotting an attack during the Muslim hajj pilgrimage, according to the charge sheet and local media reports.
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Saudi Workforce1.2 Million jobs required by 2022 to hit unemployment target
Saudi Arabia aims to create 1.2 million jobs by 2022 by focusing on the retail sector in order to reduce unemployment to 9 per cent, a senior labour ministry official said.
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LaborSaudi Arabia needs 1.2 million jobs by 2022 to hit unemployment target: official
Saudi Arabia aims to create 1.2 million jobs by 2022 by focusing on the retail sector in order to reduce unemployment to 9 percent, a senior labor ministry official told Reuters.
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