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Iraqi Prime Minister Adil Abdul-Mahdi Visits Saudi Arabia as Relations Warm
- April 18,2019
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- SUSTG Team
Iraqi Prime Minister Adil Abdul-Mahdi and a delegation visited Saudi Arabia yesterday and met with King Salman and Crown Prince Mohammed bin Salman, as relations between the two nations continue to warm. The Prime Minister’s office said the leaders signed 13 agreements in areas such as trade, energy and political cooperation, without giving further details, according to […]
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Princess Reema Bint Bandar Sworn In as Ambassador to the United States
- April 16,2019
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- SUSTG Team
Princess Reema bint Bandar bin Sultan al-Saud was sworn in on Tuesday as Saudi Arabia’s next Ambassador to the United States, according to the Saudi Press Agency. The swearing in took place at Al-Yamamah Palace in Riyadh. Princess Reema is the first Saudi woman to hold the high-ranking diplomatic post after a royal decree appointed […]
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Saudi-based Telecom Firm Arabsat is SpaceX’s First Commercial Mission, Falcon Heavy Launch Successful
- April 12,2019
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- SUSTG Team
SpaceX’s Falcon Heavy successfully launched its first commercial mission today with Saudi-based telecom firm Arabsat as its customer in a key demonstration for billionaire entrepreneur Elon Musk’s space company in the race to grasp lucrative military launch contracts, Reuters reports and the companies involved confirm. The Falcon Heavy rocket blasted off from Florida’s Kennedy Space Center […]
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Orders for Saudi Aramco’s Debut International Bond Topped $100 billion in ‘Vote of Market Confidence’
- April 9,2019
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- SUSTG Team
Orders for Saudi Aramco’s debut international bond topped $100 billion on Tuesday, Reuters reports, in what amounts to a “record breaking vote of market confidence” for Aramco after facing investor concerns about government influence over the company. Al-Falih had previously said the $10 billion bond offering had been oversubscribed well above $30 billion. Demand appeared […]
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Saudi Aramco Agrees to Buy 70% Stake in SABIC from Kingdom’s Public Investment Fund
- March 28,2019
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- SUSTG Team
Saudi Arabia’s national oil company Saudi Aramco has agreed to buy a 70% stake in Saudi Basic Industries Corporation (SABIC), the kingdom’s leading petrochemical firm, for $69.1 billion in a private transaction, SABIC said in a press release. The move continues Saudi Aramco’s plans to diversify away from oil to “generating more of its profits […]
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950,000 SMEs Registered in Saudi Arabia — Jadwa Investment
- March 20,2019
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- SUSTG Team
A recent report by Jadwa Investment highlights the progress being made in the development of Small and Medium-Sized Enterprises (SMEs) in Saudi Arabia and the significance that these crucial elements of a diverse economy can have on sustainable growth in the Kingdom. Saudi Arabia is focusing on SME development with its Vision 2030 social and […]
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Second ‘Mega Entertainment Hub’ Planned for Riyadh Will Be Over 30 Acres
- March 12,2019
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- SUSTG Team
Saudi authorities have announced a second major entertainment hub for citizens and visitors of the Kingdom’s capital city, Riyadh. At over 135,000 square meters (33 acres), the new complex will be located in the Al-Rabwa neighborhood of Riyadh and have metro line access via the Salah Al-Din station of the soon-to-be-completed Riyadh metro mega project, the […]
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General Abizaid Faces Tough Questions from U.S. Senators in Confirmation Hearing
- March 7,2019
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- SUSTG Team
President Trump’s choice for the next U.S. Ambassador to Saudi Arabia faced tough questions from U.S. senators but defended the U.S.-Saudi relationship on Wednesday and said the United States needed “a strong and mature partnership with Saudi Arabia.” Retired General John Abizaid’s confirmation hearing in front of the Senate Foreign Relations Committee was the first of this session […]
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Positives Seen in Latest Saudi Government Labor Market Data as Vision 2030 Reforms Take Hold
- March 1,2019
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- SUSTG Team
Saudi Arabia’s workforce saw an increase in female participation and a slight decline in unemployment, according latest data on the Saudi labor revealed in a Jadwa Investment report. The General Authority for Statistics (GaStat) labor market release for Q3 2018 shows that unemployment declined slightly to 12.8 percent, from 12.9 percent in the previous two […]
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Analysis: Vision 2030 is Well Underway. Here’s What’s Needed to Make it a Success.
- February 25,2019
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- Hussain Abusaaq
In 2016, Saudi Arabia’s Crown Prince Mohammed bin Salman announced his “Vision 2030″—the most comprehensive transformation plan in the history of the country, which includes wide-ranging social and economic reforms. Vision 2030 was designed as a 14-year project; however, in its first three years, we have already seen tangible advances, such as fiscal consolidation efforts, […]
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U.S.-IranU.S. Treasury’s Mnuchin says U.S. will ramp up pressure on Iran
Treasury Secretary Steven Mnuchin said on Monday the United States would increase economic pressure on Iran over its nuclear program, making the pledge during a Middle East trip that includes visits to U.S. allies Israel and Saudi Arabia. Sanctions reimposed on Tehran by President Donald Trump after he withdrew the United States from world powers’ 2015 nuclear pact with Tehran have dried up Iranian oil revenues and cut Iranian banks’ ties to the financial world.
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Nuclear PowerU.S. says talks progressing with Saudi on possible nuclear program
U.S. Energy Secretary Rick Perry said on Saturday that conversations with Saudi Arabia on a nuclear program are going forward.
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Turki Al-FaisalSaudi Prince Tells U.S. Congress to Get Over Its Frustrations
How many congressional leaders “have deigned to pay a visit to the kingdom?” Prince Turki said at the event. “Should they visit Riyadh they may learn something about universal health care, which the kingdom has provided for its citizens since its establishment” or “they may get an insight into our improving and evolving educational system.”
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IMX 19Saudi navy to take part in large U.S.-led int’l drill – Xinhua
The drill will be held in the northern Gulf, Gulf of Oman, Arabian Sea, the coast of Djibouti and Gulf of Aqaba from Oct. 27. The naval war games will see the participation of 56 countries and six international organizations.
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Anti-ISIS CampaignU.S. does not know where ISIS escapees are, says Syria envoy
U.S. special envoy for Syria and the Global Coalition to Defeat ISIS, Jim Jeffrey, said Tuesday that more than 100 Islamic State prisoners have escaped to parts unknown.
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SyriaFor Syrian Kurds, a leader’s killing deepens sense of U.S. betrayal
As recently as Oct. 3, State Department officials reassured her at a meeting that Washington would safeguard northern Syria from a threatened Turkish assault by mediating between Kurdish-led forces and Ankara, according to a colleague who was present.
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U.S.-Saudi RelationsEsper Tours Saudi Military Site as U.S. Readies Troop Buildup
Defense Secretary Mark Esper met Tuesday with the king of Saudi Arabia during a tour of the kingdom’s military facilities as the U.S. pursues its biggest Middle East troop buildup of the Trump administration. Mr. Esper arrived in Saudi Arabia Monday as the U.S. steps up support for Riyadh against a recent series of attacks on Saudi oil industry facilities and tankers blamed on Iran. The trip also comes amid strained U.S.-Saudi relations and growing Russian influence in the region,
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Syria WithdrawalU.S. Plan to Protect Kurdish-Held Syrian Oil Fields Sows Confusion
Originally, the internal Pentagon plan did not include any stipulations about U.S. troops guarding the oil fields in Kurdish-held territory, the official noted. Framing the proposal as a way to keep Syrian President Bashar al-Assad from controlling the oil was likely a way to make it more appealing to Trump, who has been pushing for troop withdrawals all year.
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SanctionsTurkish state-run Halkbank funneled billions to Iran, U.S. charges say
Halkbank illegally transferred $20 billion worth of restricted Iranian funds, prosecutors said. "The bank's audacious conduct was supported and protected by high-ranking Turkish government officials, some of whom received millions of dollars in bribes to promote and protect the scheme," U.S. Attorney Geoffrey Berman said. "Halkbank will now have to answer for its conduct in an American court."
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Energy SecurityU.S., Saudis Heighten Security Defenses After Attacks on Oil Industry
The U.S. and Saudi Arabia have stepped up efforts to protect the kingdom’s oil production, holding talks on connecting Saudi missile defenses to U.S. systems and investigating new antidrone technologies, after an attack last month knocked out half of the country’s crude production.
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