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Saudi Arabia’s SALIC invests in crop analytics firm Hummingbird Technologies
- May 24,2019
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- SUSTG Team
The Saudi Agricultural and Livestock Investment Company (SALIC) announced it was leading a £7m ($8.8m) funding round of investments into artificial intelligence startup Hummingbird Technologies, according to the company. Hummingbird, which was set up in 2016, uses drone and artificial intelligence to provide advanced crop analytics to farmers. Hummingbird, using imagery and data analytics from satellite, drone, plane […]
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Reports: Saudi Arabia Places Huge Bet on U.S. Natural Gas
- May 23,2019
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- SUSTG Team
Saudi Aramco announced a preliminary agreement on Wednesday to buy 5 million tons of liquefied natural gas per year in a deal with U.S.-based Sempra LNG, according to reports. The move is a “new strategy” for Aramco and highlights “the growing importance of the United States as an energy exporter,” the New York Times reports. The deal, if completed, […]
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Saudi cabinet affirms desire to avoid war and have stable oil markets in face of heightened Iran tensions
- May 22,2019
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- SUSTG Team
Saudi Arabia’s cabinet took the step of affirming the Kingdom’s desire to avoid regional conflict and ensure stable oil markets as tensions between Iran and the United States simmer, according to the state-run Saudi Press Agency and Reuters. The kingdom “will do everything in its power to prevent any war and its hand is always extended […]
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Arabian Centres IPO Postponed Two Days, But will Still Make History
- May 21,2019
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- SUSTG Team
Saudi Arabia’s largest share offering in four years for Arabian Centres shopping malls has been postponed for two days amid rising geopolitical tensions and a looming trade war between the U.S. and China, but when trading begins, it will still be a historic moment for Saudi Arabia’s markets. In addition to being the biggest IPO in four years, the […]
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Tensions Simmer in the Gulf as Kingdom Says it Wants to Avoid War but ‘Will Respond Firmly and Decisively to Any Threat’
- May 20,2019
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- SUSTG Team
Tensions simmered with Iran over the weekend as Saudi Arabia, the United States and allies made it clear war should be avoided at all costs but that they would respond to security threats and defend their interests if necessary. Following last week’s two attacks on key Saudi energy targets, which the Kingdom blames on Iran and […]
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Seven Saudi PV solar power projects worth $1.51b launched at recent industry exhibition
- May 17,2019
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- SUSTG Team
Seven PV solar power projects with a capacity of 1.52 GW and worth $1.51bn (SAR5.6bn) were launched on the sidelines of the recently concluded Saudi Elenex exhibition, according to a report in ConstructionWeekOnline. The projects were unveiled by Saudi Arabia’s Ministry of Energy, Industry, and Mineral Resources. The announcements are part of the Kingdom’s larger effort […]
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Vision 2030 economic reforms ‘have started to yield positive results’ in Saudi Arabia, IMF says
- May 16,2019
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- SUSTG Team
The International Monetary Fund (IMF) said that Saudi Arabia’s Vision 2030 economic and social reform plan was starting to pay off for the Kingdom, according to a report issued by the fund after a mission visit. “Economic reforms have started to yield positive results. Non-oil growth has picked-up, female labor force participation and employment have […]
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Fragile Ceasefire in Key Yemen Port Broken with Fresh Fighting after Cross-Border Drone Attack on Saudi Oil Pipelines
- May 15,2019
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- SUSTG Team
Fresh fighting broke out in a key port in Yemen yesterday, breaking a fragile cease-fire and threatening to complicate a troop withdrawal agreement intended to pave the way for wider peace talks, according to reports. Hodeidah port on the Western coast of Yemen “is a lifeline for millions of Yemenis threatened by starvation because of the war […]
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Saudi Arabia’s Sipchem, Sahara Eye U.S. and Asia Deals after Merger – Report
- May 14,2019
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- SUSTG Team
Saudi International Petrochemical Co (Sipchem) and Sahara Petrochemical “plan to target acquisitions and joint ventures in the United States and Asia when their merger is completed in order to expand market reach,” Reuters reports, citing top executives. Sipchem signed a non-binding agreement to buy Sahara Petrochemicals Company in a deal valued at 8.25 billion riyals ($2.2 […]
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Oil Soars as Two Saudi Oil Tankers Among Four Attacked off UAE Coast
- May 13,2019
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- SUSTG Team
Saudi Arabia said on Monday that two of its oil tankers were among those attacked off the coast of the United Arab Emirates, Reuters reports, with a total of four vessels being impacted by an attack. The UAE said on Sunday that four commercial vessels were “sabotaged” just outside the Strait of Hormuz. It did […]
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Lockheed Martin Wins $4.4 Billion Contract To Supply Radar, THAAD Air Defense System To US, Saudi Arabia – Pentagon
US defense giant Lockheed Martin has won a more than $1.4 billion modification contract extension to produce more Terminal High Altitude Area Defense (THAAD) interceptors for the United States and Saudi Arabia, the Defense Department announced in a press release.
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‘Tash Ma Tash’ still rules hearts even as new Saudi shows hit screens
The show ran over 18 seasons and starred Saudi duo Nasser Al-Qasabi and Abdullah Al-Sadhan and a further 109 renowned actors and actresses from the Kingdom, Jordan, Syria, Iraq, Egypt, and Lebanon. Several leading directors from the Arab world were involved in its production, including the late Saudi director Abdul Khaleq Al-Ghanim, who directed 13 seasons.
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Yemen’s warring parties agree two-month truce in major breakthrough
The U.N.-brokered deal between a Saudi-led coalition and the Houthi group aligned with Iran is the most significant step yet towards ending a conflict that has killed tens of thousands and pushed millions into hunger. The last coordinated cessation of hostilities nationwide was during peace talks in 2016.
- ME Monitor - Saudi Arabia welcomes Yemen truce
- Guardian - Yemen’s warring sides accept two-month truce starting with Ramadan
- White House - President Biden Statement on UN-Mediated Truce in Yemen
- Saudi Gazette - Biden indebted to Saudi Arabia's leadership role in making Yemen' truce succeed
- Reuters - Iran welcomes Yemen truce, urges political solution
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Islamic Finance Deals Have the Best Start Ever With Oil Up 40%
Global offerings of sukuk are off to their busiest start on record this year, with bankers at HSBC Holdings Plc and Deutsche Bank AG citing the high price of oil as a driver of the vibrant issuance. Sales of new sukuk maturing in at least a year have touched nearly $24 billion so far in 2022, the best start to any year, according to Bloomberg-compiled data going back to 1999. Saudi Arabia and Turkey were the two biggest issuers.
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Talks on Yemen war start in Saudi, without Huthi rebels
The week-long discussions in the Saudi capital are hosted by the six-nation Gulf Cooperation Council and will include United Nations envoy Hans Grundberg and Washington's Tim Lenderking. The talks come after the Saudi-led military coalition backing the Yemeni government said it would cease military operations during Ramadan, which starts in coming days.
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Saudi Arabia’s start-up sector to see $162m in new investments
Saudi Arabia issued licences to six start-up entities that have collectively pledged to invest up to $162.2 million. Four start-ups, including re-commerce platform Cartlow, second-hand marketplace Soum, delivery company Rabbitmart and dental service Smileneo received licences from Saudi Arabia’s Ministry of Investment. Licences were also granted to imVentures, a Riyadh-based venture capital fund, and Silicon Valley-based early stage accelerator Plug and Play.
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U.S. Power and Influence in the Middle East: Part Four
After 9/11, that shifted. U.S. policymakers came to see the threats the country faced as too urgent for the slow back-and-forth of diplomacy, and too vital to brook any compromise. Warriors came to the fore, and diplomats receded.
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Saudization of these professions in Saudi Arabia starting Tomorrow
Starting Tomorrow, Monday, the implementation of the 2nd phase of localizing supplies and supermarkets in the Kingdom begins, as work in sales outlets is limited to 100% Saudi national in the professions of section supervisor.
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Yemen warring parties discuss possible prisoner swap including 16 Saudis
Yemen warring parties are discussing a possible prisoner swap which could see hundreds of detainees freed, including 16 Saudi nationals and a brother of the Yemeni president, officials said on Monday. A deal between the Saudi-led coalition and the Iran-aligned Houthi movement could help de-escalate violence and boost U.N. efforts to broker a truce during the Muslim holy month of Ramadan, which starts in April, analysts say.
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Israel’s U.S., Arab partners close ranks on Iran and urge Palestine talks
Attending the Lapid-hosted summit in a desert hotel will be the United Arab Emirates, Bahrain and Morocco, which were part of the so-called Abraham Accords brokered by the Trump administration to normalise ties with Israel.
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