The abductions were the latest of more than 118 “renditions” that Turkey’s intelligence service, MIT, has orchestrated over the past decade, according to the spy agency’s website, making it one of the most aggressive practitioners of such extralegal operations. In Nairobi, MIT relied on Kenyan government operatives to carry out the abductions and was able to bypass Kenyan courts, according to the Western security officials who, like others, spoke on the condition of anonymity to discuss a sensitive operation.
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Jadwa Investment’s 2025 Saudi Economy report sees continued broad-based growth
- March 3,2025
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- SUSTG Team
Fresh off being named 2024 Asset Manager of the Year at the recent Saudi Capital Market Awards, Jadwa Investment has released its Saudi Economy in 2025 macroeconomic report.
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Riyadh is nexus for critical global and regional talks
- February 18,2025
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- SUSTG Team
It’s a busy period in Saudi Arabia as the kingdom hosts high level U.S. and Russia talks, welcomes the U.S. Secretary of State as well as the Ukrainian President and, perhaps, sets the stage for U.S.-Iran discussions.
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GCC FMs meet to coordinate on Syria and Lebanon
- December 27,2024
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- SUSTG Team
The Gulf Cooperation Council (GCC) convened the 46th extraordinary meeting of the Ministerial Council in Kuwait to address ongoing events in the Syria and Lebanon.
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KSA and it’s summer power surge challenge
- August 19,2024
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- SUSTG Team
In terms of oil consumption used for its electricity sector Saudi Arabia matches the entire oil consumption of Italy, Spain or Turkey. The kingdom’s oil for power use spikes over 1 million barrels per day in summer to generate power and water.
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Saudi Arabia Updates Investment Law
- August 12,2024
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- SUSTG Team
Building on previously announced reforms under Vision 2030 and the National Investment Strategy, the Cabinet has approved an updated investment law for Saudi Arabia. The updated law brings together several existing freedoms and rights and expressly applies them to investors under one unified framework, providing investors with greater transparency, flexibility and confidence.
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Saudi trails only Singapore in Emerging Market VC in H1 2024
- July 11,2024
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- SUSTG Team
Magnitt’s H1 2024 Saudi Arabia Venture Investment Report, sponsored by SVC, underscores Saudi Arabia’s leading role in the MENA VC landscape and its continued appeal to both local and international investors.
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Zurich-based UBS projects Middle East digital economy to quadruple by 2030; outpacing global average
- August 31,2023
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- SUSTG Team
The Middle East’s digital economy is projected to grow from $180 billion to about $780 billion by 2030. A 20% compound annual growth significantly outpacing the global average.
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The MENA region gets hotter as a global heat wave hits 3 continents, the Islamic New Year, Saudi Arabia outranks the US in expat survey and much more…
- July 21,2023
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- SUSTG Team
Episode 95! The hosts discuss some of the biggest storylines and topics on Saudi Arabia this week. First, Richard’s One Big Thing this week, the Islamic new year. Muslims around the world observe and celebrate the Islamic New Year, also called the Hijri New Year, which marks the beginning of a new lunar Hijri year. […]
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Saudi Arabia Buys Turkish Drones During Erdogan’s Visit; Crown Prince, Turkish Leader Drive Turkish EV
- July 18,2023
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- SUSTG Team
Saudi Arabia agreed on Tuesday to buy Turkish drones in what is being called the biggest defense contract in Turkey’s history, though no exact figures were announced.
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Turkey’s Erdogan Departs for Saudi Arabia to Seek Investment
- July 17,2023
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- SUSTG Team
Turkey’s President Recep Tayyip Erdogan will visit Saudi Arabia and the United Arab Emirates this week as he looks to attract foreign investment into Turkey.
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MUST-READS
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Why Gulf Arab states and Turkey eye key roles in ending Ukraine war
The Russia-Ukraine war, now in its third year, has profoundly affected global geopolitics. Despite numerous mediation efforts, Gulf Arab states and Turkey have emerged as key players in navigating the crisis and acting as relatively neutral mediators. Saudi Arabia on Feb. 18 hosted Russian and US officials for talks aimed at ending the war in Ukraine. The four-and-a-half-hour meeting marked the most extensive dialogue between the two sides since the conflict began in 2022. While Riyadh facilitated the contentious session, Ukrainian President Volodymyr Zelensky flew to Turkey, his second stop after visiting the United Arab Emirates (UAE)—another influential actor that is engaging with both Kyiv and Moscow. The flurry of visits by Russian, Ukrainian and US officials to Turkey and Gulf Arab capitals underscore the growing influence these regional states have. Driven by their own national interests, Ankara and Gulf states are positioning themselves to play a dominant role in the resolution of the Ukraine war, each seeking to secure significant gains from the outcome.
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Turkey moves to power Saudi Arabia’s defense-driven economic transformation
Riyadh’s bold plans to localize 50% of its defense sector by 2030 are reshaping its approach to military-industrial development. In line with this vision, leading Turkish defense companies such as Baykar, ASFAT and ASELSAN are forging co-production agreements, paving the way for intensifying technology transfer, and expanding local manufacturing capabilities within the Kingdom. Saudi Arabia’s proposed 6B USD defense agreement with Turkey is a significant step forward for this vision. The deal is expected to include a diverse range of hardware—including warships, the battle tank Altay, a variety of unmanned aerial vehicles (UAVs) and potential collaboration on fifth-generation KAAN stealth fighters. These moves signal broader geostrategic aims beyond a shift in military procurement. In this context, the looming deal has the potential to radically transform Riyadh’s economic and industrial landscape.
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Iranians outraged as Turkey warns action in Syria will boomerang for Iran
Turkish Foreign Minister Hakan Fidan’s warning that Iran will face instability if it makes any destabilizing move in Syria has sparked widespread condemnation in Tehran. As Iran’s longtime Syrian ally Bashar Al-Assad has been toppled by Turkish-backed Sunni Islamists, some Iranians say Ankara now believes that Tehran is too weak to stand up to Turkey.
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Syria’s rebuilding is bringing US partners Turkey and Saudi Arabia closer together
Since Turkey ended a period of sharp tensions with several Gulf countries in 2021, Ankara has improved relations with all the countries in the region, and ties between Turkey and Saudi Arabia in particular have significantly improved. Ankara and Riyadh have put aside their past disputes and deepened their strategic relations. Now, the rebuilding of post-Assad Syria offers an opportunity for Turkey and Saudi Arabia to deepen their relations further. After becoming Syria’s new de facto leader, Ahmad al-Sharaa visited Saudi Arabia and Turkey for his first two visits abroad. This is a testament to the important role both countries are expected to play in the new Syria. Sharaa is likely attempting to show the new Syrian leadership’s intent to distance itself from Iran and attract the Saudi financial investment that Syria desperately needs.
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Ahmed al-Sharaa’s Visit to Saudi Arabia and Turkey
These visits are very important for al-Sharaa and Syria because they have the potential to shape the country’s future. First, al-Sharaa wants to increase his legitimacy as a leader and secure the support of regional countries for the new regime in Syria. His visits outside Syria as the country’s leader and his reception by prominent leaders in the region contribute to establishing his status and strengthening him. In this context, it is important to note that in recent weeks, many diplomatic delegations from around the world have visited Syria, including the Emir of Qatar, Tamim bin Hamad Al-Thani, who visited the country on January 30.
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Sinem Adar: Turkey’s Syria Challenge
If you take the words of Turkish ruling elites at their face value, Turkey, first and foremost, in the mid and long term, is interested in the stabilization of Syria. It doesn't want a failed state at its border. It defines the future of Syria in three dimensions. It wants a Syria that does not cause a terror problem to its neighbors. It does not want a Syria that causes a threat to its neighbors. It wants a Syria that reflects its diverse demography. Ankara certainly sees this moment as a moment of opportunity. That can be seen in the last couple of weeks—there has been an interesting shift in the language of some officials, but also mainly in the experts that are close to the AKP. They use the words “paradigm shift” to refer to Syria.
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Turkey Aims for $6 Billion Weapons Deal With Saudi Arabia
Turkey’s government is hoping to reach a $6 billion defense deal with Saudi Arabia that could see the kingdom buy warships, tanks and missiles, according to Turkish officials familiar with the matter. The agreement, which would involve Saudi Arabia joining a Turkish jet-building project, could be finalized during a visit by President Recep Tayyip Erdogan to the kingdom around March, the officials said. Turkey is trying to grow its defense industry and sees Saudi Arabia, one of the world’s biggest importers of arms, as a key market. The two countries signed a deal in 2023 for the Saudis to buy high-flying drones from Turkish company Baykar. Now, Ankara wants to sell its main battle tank, called Altay, to Saudi Arabia along with missile-defense systems, the officials said.
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Turkey exploits post-9/11 counterterrorism model to target critics in exile
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Commentary: The balance of power is shifting in the Middle East – and it is Turkey’s ‘full moon’ on the rise
Turkey played a pivotal role in the rebels’ surprising triumph. The operation unfolded with an extraordinary lack of the kind of violent destruction that has characterised Syrian campaigns over the past 13 years. Turkey provided intelligence, guidance and political cover. In the early years of the Syrian conflict, dozens of nations offered sporadic support to opposition groups, but Turkey’s commitment to the rebels in the north-western enclave near its border was consistent. Through ceasefires and frozen frontlines brokered since 2019, Turkey ensured that the rebels had the stability to rearm and reorganise. With Iran stretched thin and unable to provide resources and manpower due to Israeli strikes against Hezbollah and Iranian networks in Lebanon and Syria, the collapse of Assad’s regime became not only possible but inevitable. Meanwhile, Russia, preoccupied with its war in Ukraine, offered only limited support to Assad.
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Turkey’s central bank expected to start cutting rates next week: Reuters poll
Turkey's central bank is expected to start a cycle of interest rate cuts next week after eight months of steady policy, according to a Reuters poll on Thursday. Fourteen of 17 poll respondents forecast that the bank would cut its policy rate next Thursday, according to the poll. Three respondents expect the central bank to keep rates on hold until the first quarter. While most expected that the easing cycle will be launched this month, economists differed over the size of the first cut.
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