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Recent stories from sustg
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Fakeeh Care Group 119 times oversubscribed as Saudi IPO market heats up
Investors put in $91 billion of orders for Fakeeh Care Group’s IPO which is set to be the Tadawul’s biggest listing of the year.
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Wamda’s Tawaref Series Provides Blueprint for Expanding in KSA
Wamda has partnered up with Tawaref, a Saudi Arabia-based tech investment community that also provides startup advisory, legal consultancy and due diligence support, to publish a series of articles to help entrepreneurs navigate the Saudi market.
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Johnson Controls Arabia Announces Export of 300 Saudi-Made Scroll Chillers to the United States from KAEC Manufacturing Plant
Johnson Controls Arabia (JCA) hosted an export milestone event at its YORK Manufacturing Complex at the King Abdullah Economic City (KAEC) to mark the company’s latest export achievement of more than 300 Saudi-made YORK Scroll Chillers to the American market during this year, with a total market value of 100 million Riyals in the initial phase, the […]
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Saudi Aramco Expects to Pay Full Dividends Despite Lower Earnings – Report
Saudi Arabia’s Aramco said it expects to pay full dividends to its shareholders, including the Public Investment Fund of Saudi Arabia, “despite reporting lower earnings for the first quarter on Tuesday, hit by lower oil prices and volumes sold,” Reuters reports.
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Saudi Internet Penetration Reaches 99%
According to the “Internet Saudi Arabia” report for 2023, published by the Communications, Space, and Technology Commission, both men and women demonstrated high levels of internet usage, with rates of 99.3 percent and 98.5 percent respectively. The report also says that 52.3% of users spend more than seven hours online each day.
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Saudi Car Market: Tops GCC, women purchase 30% of cars sold in 2023
In 2023, Saudi Arabia sold 729,466 cars, a 17% increase from the previous year. The Toyota Yaris was the best-selling car, accounting for 37% of the sales. Car sales are expected to surge to 870,000 this year.
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Nusuk pilgrim card launched
With the 2024 Hajj expected to begin June 14, Minister of Hajj and Umrah Dr. Tawfiq Al-Rabiah released the Nusuk card by presenting its copy to Indonesian Minister of Religious Affairs Yaqut Cholil Qoumas in Jakarta on Tuesday, April 30, during his official visit to Indonesia.
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10th Saudi Film Festival Underway
The 10th Saudi Film Festival runs May 2-9 at the King Abdulaziz Center for World Culture (Ithra) in Dhahran. Debuting in 2008 this year’s edition has two main themes: Indian cinema and sci-fi films.
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PIF and BlackRock Launch $5bn Investment Fund
BlackRock and Public Investment Fund signed a non-binding MOU that calls for the sovereign fund to invest up to $5bn in stages as the new firm hits agreed milestones. Investments will provide capital for a variety of funds invested in public equities and bonds as well as alternative assets.
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Saudi Space Agency and WEF Establish Space C4IR Center
The World Economic Forum has signed an agreement with the Saudi Space Agency to establish a Centre for the Fourth Industrial Revolution (C4IR) focused on space. The Centre for Space Futures, set to open in autumn 2024, will be hosted by the Saudi Space Agency.
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Islamic State claims bomb attack on Iraqi police near Kirkuk
Islamic State claimed responsibility for the killing at least nine Iraqi federal policemen on Sunday in a bomb attack on their convoy near the oil city of Kirkuk, the militant group said on its Telegram channel.
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BP pulls out of Iraq’s Kirkuk field as expansion plans stall
BP has pulled out of Iraq's giant Kirkuk oilfield after its $100 million exploration contract expired with no agreement on the field's expansion, dealing a fresh blow to Iraq's hopes to increase its oil output, three sources told Reuters. The move comes as Western energy companies reassess their operations in Iraq amid political turmoil following months of anti-government protests and a flare-up in tensions between the United States and Iran in the country.
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Iraq Resumes Kirkuk Oil Exports A Year After Halt
Iraq resumed on Friday oil exports from the Kirkuk province, a year after it had stopped oil flows from the area due to a dispute with the semi-autonomous Kurdistan region
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Iraq, BP sign Kirkuk oilfield development contract, official says
Iraq’s state-run North Oil Company signed an agreement with BP on Monday to triple output from the Kirkuk fields in the north of the country, Oil Minister Jabar al-Luaibi said.
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Islamic State kills 27 Iraqi security personnel in Kirkuk
Islamic State militants ambushed a convoy and killed at least 27 Iranian-backed Popular Mobilization Forces fighters in Iraq, the militia said.
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Three months after Baghdad took control, tensions high in Kirkuk
The retaking of Kirkuk by the Iraqi army in October has changed the balance of power in the oil-rich town that had been under full control of the Kurds since 2014. The operation was part of Baghdad’s retaliatory measures after the Kurds held an independence referendum that has since been declared illegal.
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Kirkuk: Iraq calls on BP to ‘quickly’ develop disputed oilfields
Iraqi Oil Minister Jabar al-Luaibi asked BP "to quickly make plans to develop the Kirkuk oilfields," as reported in an oil ministry statement Wednesday.
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After Kirkuk, Kurdish forces pull out of more areas in Iraq
urdish forces lost more territory in Iraq on Tuesday, withdrawing from the town of Sinjar a day after Iraqi forces pushed them out of the disputed city of Kirkuk.
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Kirkuk: Iraqi forces capture key sites from Kurds
Iraqi government forces have captured key installations outside the disputed city of Kirkuk from Kurdish fighters. A military statement said units had taken control of the K1 military base, the Baba Gurgur oil and gas field, and a state-owned oil company's offices.
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Iraq’s parliament bans Kurdish flag in Kirkuk
MPs reverse a decision to raise the Kurdistan flag alongside the Iraqi flag on public buildings in Kirkuk city.
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