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Recent stories from sustg
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Inflation, Unemployment Tick Up as Kingdom Seeks Path to Recovery for Economy – Report
- October 1,2020
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- SUSTG Team
Saudi Arabia saw an increase in unemployment and an uptick in inflation in recent months as the Kingdom seeks a pathway toward economic recovery following a period of low oil prices and the global Coronavirus pandemic, according to the most recent chartbook from Jadwa Investment.
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Saudi Government Lifts Suspension of Entry and Exit into Saudi Arabia for Residents, Visa Holders
- September 18,2020
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- SUSTG Team
The Government of Saudi Arabia announced changes effective September 15 that allow holders of current residence permits (known as “iqamas”) with a valid entry/exit visa as well as holders of a valid business or visit visa to enter (including exit and re-enter) Saudi Arabia, according to an advisory provided to SUSTG.
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New Digital Art Museum, with ‘Crowdpleasing Immersive Experiences’, to Launch in Jeddah in 2023
- September 15,2020
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- SUSTG Team
Tokyo-based multimedia collective group teamLab has signed a partnership agreement with Saudi Arabia’s Ministry of Culture to provide immersive experiences for a new digital art museum in Jeddah, according to reports, the latest investment by the Saudi government into the culture and lifestyle industry in the Kingdom.
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Saudi Electricity Co. Sells $1.3 Billion of Green Sukuk
- September 11,2020
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- SUSTG Team
Saudi Electricity Co. sold the first green bond in Saudi Arabia in what amounts to the “latest milestone in the expansion of environment-friendly debt instruments,” according to a report in Bloomberg.
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Report: Saudi Aramco Slows Diversification Plans Amid Lower Oil Prices, Dividend Pledge
- September 3,2020
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- SUSTG Team
Saudi Arabia’s state oil company Saudi Aramco is reviewing its diversification and investment plans domestically and internationally as lower oil prices and delivering on a promised dividend have put pressure on the company, according to an exclusive Wall Street Journal report.
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World Bank Pauses ‘Doing Business’ Reports as it Probes Data Collection, Review Irregularities
- August 28,2020
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- SUSTG Team
The World Bank will put on hold further publication of its widely-followed “Doing Business” reports after the organization said it will probe irregularities in data collection, according to Reuters.
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FTSE Russell Launches Saudi Arabian Government Bond Index
- August 27,2020
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- SUSTG Team
Global index provider FTSE Russell launched a bond index for Saudi Arabia to measure the performance of fixed-rate, local currency government bonds, according to reports and a statement from the FTSE.
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Lifestyle Hotel Brand Habitas to Open 3D Printed Hotel in Al-Ula
- August 18,2020
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- SUSTG Team
Habitas, the lifestyle hotel brand, will deliver a 100-room luxury resort in Al-Ula, Saudi Arabia that is in part 3D printed by the end of the year, joining other planned hotel groups that are emphasizing sustainability to the historic area.
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New Cases of COVID-19 Continue to Decrease in Saudi Arabia
- August 14,2020
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- SUSTG Team
New cases of the Coronavirus reported in Saudi Arabia continue to decline from peak points as the Kingdom sees progress in combatting the spread of the deadly virus, according to official data.
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Banyan Tree Resort Planned for Al-Ula, will Offer ‘Luxury Tented Villas’ in Area with Zero Light Pollution
- August 10,2020
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- SUSTG Team
Saudi Arabia’s Al-Ula will be home to Saudi Arabia’s first Banyan Tree resort, a luxury brand from Europe’s largest hotel group, Accor. The company will take over the Ashar Resort in the historic north-western city and the expanded property will offer luxury accommodation designed to complement the natural scenery of the valley, according to reports. The new resort will have […]
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Dubai’s Biggest Bank Profit Slumps After $1.1 Billion Provisions
Emirates NBD PJSC first-half profit slumped 45% after it set aside $1.1 billion in provisions to cover an expected spike in bad loans brought on by the coronavirus pandemic. Dubai’s biggest bank increased impairments allowances more than three times to 4.2 billion dirhams, according to a statement. Profit dropped to 4.1 billion dirhams due to the higher impairment charges and a gain on the sale of a stake in Network International Holdings Plc last year wasn’t repeated.
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Prince Bandar bin Khalid Al-Faisal Appointed Chairman of Saudi Equestrian Commission
Prince Bandar bin Khalid Al-Faisal, the Chairman of the Horse Race's Club, was appointed in a royal order as the Chairman of the Equestrian High Commission, the Saudi Press Agency reported.
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Princess Reema bint Bandar Is The First Saudi Woman To Be Appointed To The International Olympics Committee
During her career, Princess Reema became one of the most prominent Saudi sports personalities. She has been Saudi Arabia’s ambassador to the United States since February 2019 – and is the first woman to hold the position.
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China’s central bank chief urges IMF to open cash floodgate to fight pandemic
China’s top central banker has urged the International Monetary Fund (IMF) to issue hundreds of billions of dollars of liquidity to its 189 member countries through a general allocation of Special Drawing Rights (SDRs) despite U.S. objections.
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Lebanon PM Says In Contact With Kuwait, Qatar, Iraq for Help
Lebanon is in contact with Kuwait, Qatar and Iraq to help the country tackle its worst financial crisis in decades, Prime Minister Hassan Diab said Tuesday. A day after Lebanon dispatched a top official to discuss possible aid with Kuwait, the premier described those contacts and others as positive and “very encouraging.” Lebanon is seeking aid from its Arab neighbors and others to help alleviate the impact of a financial meltdown that has wreaked havoc on its tiny economy and pushed poverty and unemployment rates higher.
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The story of Banque Saudi Fransi
Began as French institution Banque de l’Indochine et de Suez. Became Al Bank Al Saudi Al Fransi in 1977, when foreign bank branches were converted into Saudi joint stock companies with majority Saudi ownership. Its postal address was PO Box 1 in Jeddah. Listed on the Saudi Stock Exchange (Tadawul) in January 1993.
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Within the Taliban, clashing views of post-war Afghanistan
“We will only accept 100 percent of power in Afghanistan,” said Yaser, a 26-year-old Taliban fighter from Marawara district, whose comments were echoed by his commander and others in the district. Yaser, like many Afghans, goes by a single name.
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Israel’s stalled West Bank annexation, explained by an expert
The plan has the potential to completely upend the fragile, but unsustainable, status quo in the Israeli-occupied territory. Home to nearly 3 million Palestinians, the land makes up a critical part of any future independent state of Palestine. But the viability of that future state is complicated by the presence of some 500,000 Jewish settlers who also live in the West Bank, in settlements dotted across the approximately 2,262 square miles of territory.
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Yemen’s Houthis agree to give U.N. access to abandoned tanker – sources
Yemen’s Houthi movement has agreed to provide the United Nations access to a stranded oil tanker that risks causing an environmental disaster off the coast of the war-divided country, two U.N. sources familiar with the matter said. The U.N. earlier this week said it was extremely concerned after water entered the engine room of Safer tanker, which carries 1.1 million barrels of crude oil and has been stranded off the Red Sea oil terminal of Ras Issa for over five years.
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Manchester City’s Champions League Ban Is Overturned
Since being acquired in 2008 by Sheikh Mansour bin Zayed al Nahyan, the billionaire brother of the ruler of the United Arab Emirates, Manchester City has risen from relative obscurity to become one of soccer’s most valuable and successful brands.
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