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Saudi Arabia’s PIF Bulks Up Energy Holdings with $1 Billion in Four Major European Oil Companies
- April 9,2020
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- SUSTG Team
Saudi Arabia’s Public Investment Fund has “amassed stakes worth roughly $1 billion in four major European oil companies,” the WSJ reports, as the deep-pocketed sovereign wealth fund goes on a buying spree of assets on the cheap amidst a global economic downturn.
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Saudi Arabia to Spend $4 Billion in Fight Against Coronavirus
- April 8,2020
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- SUSTG Team
Saudi Arabia will increase its spending to fight the spread of the coronavirus in the Kingdom, earmarking an additional 7 billion riyals (USD 1.8 billion) yesterday on top of the 8 billion riyals (USD 2.1 billion) earmarked at the beginning of the virus outbreak, according to Asharq Alawsat.
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Saudi Arabia’s PIF Discloses 8.2% Stake in Carnival Cruises
- April 7,2020
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- SUSTG Team
Saudi Arabia’s Public Investment Fund disclosed on Monday that it had acquired an 8.2% stake in Carnival Corporation & plc, operator of Carnival Cruise line, as of March 26, according to reports.
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Big Week for Oil Prices as Major Producers Scramble for a Deal
- April 6,2020
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- SUSTG Team
Saudi Arabia, Russia, OPEC countries and the United States are hoping this week a deal can be reached on production cuts to prevent the price of oil from falling further on international indices, but some analysts and market observers are skeptical that such a deal can come together given the current market dynamics.
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To Avoid Layoffs, Saudi Arabia to Guarantee Salaries to Support Virus-Hit Firms
- April 3,2020
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- SUSTG Team
Saudi Arabia moved to help firms avoid having to fire Saudi citizens amid an economic slowdown resulting from the coronavirus pandemic, according to reports.
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Jadwa Investment’s April 2020 Chartbook Shows Early Challenges for Saudi Economy Amid Global Coronavirus Outbreak
- April 2,2020
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- SUSTG Team
Jadwa Investment’s recently-released April 2020 Saudi Chartbook highlighting latest data for the Kingdom’s economy shows indications that the Coronavirus will have a negative impact on the economy as Saudi Arabia locks down to safeguard its citizens.
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Saudi Arabia Approves Government Asset Privatization on Local Stock Market
- April 1,2020
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- SUSTG Team
Saudi Arabia’s government approved the listing of government assets planned for privatization on its stock market, according to reports.
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G20 Finance Chiefs, Central Bankers Hold Digital Meeting for Second Time in a Week to Discuss Coronavirus Response
- March 31,2020
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- SUSTG Team
Finance ministers and central bankers from the Group of 20 major economies met by videoconference on Tuesday, the second such meeting in a week, to discuss a global response to the spread of the coronavirus the its impact on economy, Reuters reports.
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Kingdom Will Pay for Coronavirus Treatments, KSA Cases Reach 1453
- March 30,2020
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- SUSTG Team
Saudi Arabia will finance treatment for anyone infected with the coronavirus in the Kingdom, the health minister said on Monday, as Saudi’s total cases reached 1453, according to Reuters.
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Saudi Arabia’s King Salman Chairs Virtual Gathering of G20 Countries to Combat COVID-19
- March 26,2020
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- SUSTG Team
Saudi Arabia’s King Salman chaired a virtual G20 summit via video teleconference with world leaders to address the COVID19 crisis under the G20 Saudi Arabia Presidency.
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MUST-READS
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Saudi Arabia stresses need to ‘preserve Lebanon’s sovereignty, territorial integrity’
Saudi Arabia has stressed “the need to preserve Lebanon’s sovereignty and territorial integrity” amid ongoing Israeli strikes on the country, the Kingdom’s Ministry of Foreign Affairs said in a statement issued on Monday. “The Kingdom of Saudi Arabia is following with great concern the developments taking place in the Republic of Lebanon,” the statement continued, adding that it “affirms its solidarity with the Lebanese people against the repercussions of these events and the need to limit their humanitarian consequences.”
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Saudi Arabia announces monthly financial support to address humanitarian situation in Gaza
Saudi Arabia on Sunday announced the provision of monthly financial support to Palestinians to help address the humanitarian situation in the Gaza Strip and its surroundings. The support comes as a continuation of the humanitarian and development aid provided by the Kingdom to the Palestinian people in the past, which amounts to more than $5.3 billion.
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Saudi Arabia Claims Third Place in World Bodybuilding Championship
The national bodybuilding team has made history by securing a remarkable third-place finish at the World Bodybuilding Championship. The competition, held in Kish Island, Iran, from September 23-28, saw participation from 65 nations. Saudi athletes showcased their dominance by clinching 27 medals, including seven gold, six silver, and 14 bronze. The gold medalists were Yousef Al-Naimi, Ahmed Al-Tasan, Mubarak Al-Zanan, Khaled Khan, Talal Househ, Hussein Al-Hammadi, and Ahmed Maghrabi.
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Intersec Saudi Arabia: A safer tomorrow for Saudi Arabia
The sixth edition of Intersec Saudi Arabia will be held in association with the High Commission of Industrial Security and Saudi Civil Defence. Organised by 1st Arabia under the license of Messe Frankfurt, the event has seen substantial growth year-on-year, with the 2024 edition set to cover 25,000 square metres of exhibition space – a 50% overall increase from the previous year. This expansion is a direct response to the overwhelming demand from exhibitors and the anticipated 14% increase in visitors, with over 17,000 industry professionals expected to attend.
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Saudi Arabia Signals Oil Policy Shift
The revised plan, according to the unnamed sources, is for the kingdom to increase incrementally its monthly production from December, adding a total of 1 million barrels per day (bpd) by December 2025. Even as this will weaken prices, the impact on Saudi Arabia may be limited, with the report making clear that the kingdom has other funding options for its infrastructure plans—namely, its foreign exchange reserves and the issuance of sovereign debt.
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Saudi Arabia to expand cloud seeding program
Riyadh has assembled a team of domestic and international researchers and learned vast amounts from its early efforts at cloud-seeding, Osama Ibrahim Faqeeha said, speaking in New York on the sidelines of the UN General Assembly and Climate Week. The country now aims to roll it out elsewhere within its borders and to lead broader regional research into the practice.
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How NEOM Green Hydrogen Company is championing Saudi Arabia’s clean energy transition
“For the future, the keyword is reinforcement,” he said. “We build our policy, procedures and framework around starting the operations and continuing the operations to be environmentally friendly.” NGHC’s ambitions extend far beyond the borders of Saudi Arabia. The project aims to position the Kingdom as a global leader in hydrogen production, while also creating thousands of new jobs and stimulating local economies.
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Saudi Arabia launches tender for 4.5 GW of wind power and photovoltaic projects
Five projects are being tendered, spread across four of the kingdom’s provinces. These include: 1,500 MWac Dawadmi Wind IPP to be located in Riyadh province. 1,400 MWac Najran Solar PV IPP to be located in Najran province. 600 MWac Samtah Solar Photovoltaic (PV) IPP to be located in Jizan province. 600 MW Ad Darb Solar Photovoltaic IPP to be located in Jizan province. 400 MW As Sufun Solar Photovoltaic IPP to be located in Hail province. Saudi Arabia’s NREP aims to boost the share of renewable energy generation in the country. The kingdom is targeting a 50 percent contribution in RE generation in its power mix by 2030.
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Saudi Arabia forms global alliance to push for Israeli-Palestinian two-state solution
Saudi Arabia has formed a global alliance to push for a two-state solution to the Israeli-Palestinian conflict, the country's foreign minister Prince Faisal bin Farhan Al Saud said on Thursday on the sidelines of the United Nations General Assembly meeting in New York. The alliance includes a number of Arab and Muslim countries and European partners, the Saudi state news agency reported, without specifying which countries had committed to join.
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Saudi Arabia: Experience The Monumental Heritage Of A Kingdom Waiting To Be Explored
Alhasan revealed that Saudi Arabia ranked as one of the top long-haul destinations for Malaysian travelers last year, “representing 23% of all long-distance trips.” In comparison to the figures from 2022, Saudi Arabia saw a significant 15% rise in Malaysian visitors in 2023, highlighting the growing appeal of the kingdom among Malaysian tourists. The Saudi Arabian tourism ministry, through the Saudi Tourism Authority’s (STA) office in Kuala Lumpur, will maintain its strong collaboration with travel partners in Malaysia to further enhance tourism opportunities.
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