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Saudi Aramco Weighs Global Bond Sale to Finance Purchase of Sabic Stake from PIF
- July 27,2018
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- SUSTG Team
Saudi Aramco is considering tapping the international bond market for the first time, Bloomberg and the WSJ report, in order to finance the acquisition of petrochemical giant Sabic. The move into global capital markets could offer an alternative to an initial public offering, according to Bloomberg, citing people familiar with the talks. ‘The plans for a bond, […]
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Reports: Houthis Thwarted in Attack on Saudi Oil Tanker
- July 26,2018
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- SUSTG Team
Iran- backed Houthi rebels in Yemen were foiled in an attack in international waters on a Saudi oil tanker, the Saudi Gazette and major news services report. As a result of the “immediate intervention of the [Saudi-backed] Coalition’s fleet” the oil tanker only “sustained minimal damages” in the waters off of port city Hodeidah, the Saudi Press […]
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S&P Dow Jones to Upgrade Saudi Stocks to Emerging Market Next Year
- July 25,2018
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- SUSTG Team
Global equity index compiler S&P Dow Jones Indices will upgrade Saudi Arabia’s bourse to emerging market status from a stand-alone market next year, becoming the latest in a series of index firms to promote Riyadh, according to Reuters and a statement released on S&P Dow Jones’ website. S&P Dow Jones will “add major Saudi stocks to […]
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Saudi Research and Marketing Group, UK-Based Independent Ink Media Deal
- July 24,2018
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- SUSTG Team
Last week, the Saudi Research and Marketing Group (SRMG) and the UK-based Independent announced an exclusive licensing deal that will lead to the creation of four new online news services offering “the highest-quality, free-thinking, independent news, insight and analysis on global affairs and local events,” according to reports. SRMG, the middle east’s biggest publisher whose mastheads […]
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Reports: Saudi Aramco Interested in Buying Controlling Stake in Sabic, Possibly Up to 70%; IPO Timeline in Question
- July 23,2018
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- SUSTG Team
Saudi Aramco aims to buy a controlling stake in petrochemical maker SABIC, possibly up to 70% of the company that is currently controlled by the Public Investment Fund (PIF), according to reports. Sabic, as the chemical company is known, carries a market value of over $100 billion. Amin Nasser, Aramco’s chief executive officer, said in an […]
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Report: Saudi Delegation of Companies Led by Ministry of Economy and Planning Set to Visit New York
- July 19,2018
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- SUSTG Team
The Saudi Ministry of Economy and Planning (MEP) will lead a delegation comprising of a “number of government and private-sector entities and representatives of charitable associations” to the United States to present a review of the country’s progress on sustainable development, according to reports. The delegation will participate in the UN’s High-level Political Forum on […]
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Report: Saudi Aramco Mulls Stake in SABIC
- July 18,2018
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- SUSTG Team
Saudi Aramco has invited banks to pitch for an advisory role on the potential acquisition of a strategic stake in Saudi Basic Industries Corp (SABIC), two sources with direct knowledge of the matter told Reuters. Riyadh-listed SABIC, the world’s number-four chemical firm, is 70 percent owned by the Public Investment Fund, Saudi Arabia’s top sovereign […]
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Report: Saudi to Invest $10b in South Africa’s Economy
- July 13,2018
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- SUSTG Team
Saudi Arabia will invest at least $10 billion in South Africa, mostly in the energy sector, including building oil refineries, Reuters reports, citing the spokeswomen for South Africa’s president Cyril Ramaphosa said on Thursday. The pledge was made by Saudi Crown Prince Mohammed bin Salman during an official visit by President Ramaphosa and government ministers […]
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Report Says U.S., Saudi Arabia Officials Working Closely on Ongoing Economic, Security Cooperation
- July 11,2018
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- SUSTG Team
U.S. government teams spent three days in Saudi Arabia discussing ways to cut off money flows to Iran without disrupting energy markets, Bloomberg reports, ahead of U.S. efforts to press nations to stop buying Iranian oil by Nov. 4. The report, which cited a senior State Department official, said that envoys from the State and Treasury departments and […]
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MIT Professional Education Launches New Collaboration with Saudi Arabia’s Al Yamamah University
- July 10,2018
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- SUSTG Team
MIT Professional Education is launching a new collaboration with Al Yamamah University (YU) aimed at “promoting diversity at institutions of higher education and supporting the country’s overall development and sociocultural evolution,” the prestigious university announced on its website. As part of the initiative, MIT Professional Education will “develop and teach professional education courses on leadership and innovation […]
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MUST-READS
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The Emirati defense gambit in Brazil
Already the largest trade counterpart of the United Arab Emirates (UAE) in South America, Brazil is emerging as a key security partner and a promising destination for Abu Dhabi's defense industry and arms exports. This trend has been epitomized in the recent letter of intent signed between the Emirati EDGE Group and the Management and Operational Centre of the Amazon Protection System (CENSIPAM).
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Saudi delegation led by Royal Court advisor meets with Syria’s Al-Sharaa
A Saudi delegation headed by an advisor from the Royal Court met with the head of the new Syrian administration, Ahmed Al-Sharaa, at the People’s Palace in Syria on Sunday, according to an Al Arabiya report. Earlier this week, Al-Sharaa praised progress made by Saudi Arabia and neighboring Gulf countries in an interview with Asharq Al-Awsat. “We admire the development in Gulf countries, particularly Saudi Arabia’s bold plans and vision, and we aspire to achieve similar progress for Syria,” he told the newspaper’s Bissane El-Cheikh during an interview the the Presidential Palace in Damascus. “There are many opportunities for cooperation, especially in economic and developmental areas, where we can align our goals,” he added.
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As Iran’s top council pauses new hijab law, some warn of ‘tyranny’
The implementation of a controversial new law which mandates stricter enforcement of the Islamic dress code has been put on hold by Iran’s Supreme National Security Council (SNSC). The move—which has raised eyebrows—comes after widespread criticism of the legislation. Many have credited Reformist President Masoud Pezeshkian, who chairs the top decision-making council, for the feat. At the same time, the maneuver has raised questions among critics who say it makes a mockery of the legislative process in Iran.
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Deception and Betrayal: Inside the Final Days of the Assad Regime
As rebels advanced toward the Syrian capital of Damascus on Dec. 7, the staff in the hilltop Presidential Palace prepared for a speech they hoped would lead to a peaceful end to the 13-year civil war. Aides to President Bashar al-Assad were brainstorming messaging ideas. A film crew had set up cameras and lights nearby. Syria’s state-run television station was ready to broadcast the finished product: an address by Mr. al-Assad announcing a plan to share power with members of the political opposition, according to three people who were involved in the preparation. Working from the palace, Mr. al-Assad, who had wielded fear and force to maintain his authoritarian rule over Syria for more than two decades, had betrayed no sense of alarm to his staff, according to a palace insider whose office was near the president’s. The capital’s defenses had been bolstered, Mr. al-Assad’s aides were told, including by the powerful 4th Armored Division of the Syrian Army, led by the president’s brother Maher al-Assad, the insider said.
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Saudi imports from GCC hit $4.36B in Q3 2024
Saudi Arabia’s imports from GCC countries fell 14% year-on-year (YoY) to SAR 16.4 billion in Q3 2024, according to a recent report by the General Authority for Statistics (GASTAT). Imports from the UAE declined by 22% YoY to SAR 9.7 billion, accounting for 59% of total Saudi imports. Bahrain came second, with about SAR 2.9 billion, followed by Oman with SAR 2.5 billion.
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Germany’s attack suspect reportedly offered reward to target Saudi ambassador
The arrested suspect in the deadly car-ramming attack at a Christmas market in the German city of Magdeburg had plans to target Saudi ambassador to Germany, according to media reports. A Saudi source told "Independent Arabia" newspaper that Talib Al-Abdul Mohsen, the suspect, had offered a reward of SR10,000 to anyone who provides information about the location of Saudi ambassador's residence and time of his presence at residence. The Saudi embassy passed this information to the German authorities but they did not take the matter seriously, the newspaper reported.
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Saudi Arabia announces resumption of embassy operations in Kabul
Saudi Arabia announced on Sunday the resumption of operations of its diplomatic mission in the Afghan capital, Kabul, more than three years after withdrawing its diplomats from the country amid the chaos that accompanied the Taliban's rise to power. "Based on the keenness of the government of the Kingdom of Saudi Arabia to provide all services to the brotherly Afghan people, it has been decided to resume the activities of the Kingdom's mission in Kabul as of December 22, 2024," the Saudi embassy in Kabul said on X. In November 2021, Saudi Arabia announced the resumption of consular services in Afghanistan, where the Saudi Humanitarian Aid and Relief Center (KSRelief) is providing humanitarian aid. Saudi Arabia is one of three countries, along with the United Arab Emirates and Pakistan, to recognize the former Taliban government, which was overthrown in the U.S. invasion in 2001.
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Saudi Arabia invests in robots to help build its Neom desert megacity
"Having worked in the rebar industry in various forms for the past 30 years, it is very exciting to reach a point where the large-scale adoption of robotics and automation to improve the rebar process is happening," explains Ulrich Deichmann, CEO of GMT Robotics. "We share in Neom's ambition to rethink how construction is delivered and look forward to a highly successful partnership that will help revolutionize the construction industry. The benefits of robotics application within the construction sector are numerous. They include boosting task efficiency, reducing operating costs, improving health and safety, and optimizing design flexibility."
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Saudi warnings about market attack suspect were ignored
The Saudi authorities, I am told, are currently working flat out to collate everything they have on the Magdeburg market suspect, Taleb al-Abdulmohsen, and to share it with Germany's ongoing investigation "in every way possible". Inside the imposing sand coloured and fortress-like walls of the Saudi Ministry of Foreign Affairs in Riyadh there is a perhaps justifiable sense of pique. The ministry previously warned the German government about al-Abdulmohsen's extremist views. It sent four so-called "Notes Verbal", three of them to Germany's intelligence agencies and one to the foreign ministry in Berlin. There was, the Saudis say, no response.
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Suspect in German Christmas market attack had history of troubling social media posts that grew increasingly dark
The man accused of killing five people and injuring more than 200 others by ramming a car into a crowded German Christmas market had a history of making anti-Islam statements, which had grown increasingly dark and threatening towards Germany in recent months. The suspect, Taleb Al Abdulmohsen, was arrested at the scene of the deadly attack in Magdenburg on Friday. German authorities said they believe he acted alone. A Saudi Arabian citizen, the 50-year-old psychiatrist came to Germany in 2006. Once settled in the country, he began sharing advice online with other people about how to escape repressive regimes in Saudi Arabia and other Gulf states, setting up the platform wearesaudis.net.
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