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Gas Prices Set to Rise 80% in Saudi Arabia as New Relief for Low Income Saudis Planned
- December 12,2017
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- SUSTG Team
Saudi Arabia will soon raise gasoline and jet fuel prices by 80% on consumers as part of broader economic reform plans meant to curb domestic consumption of oil that could be used for exports. The rise in prices is a result of the gradual elimination of energy subsidies that have long kept prices at world-leading […]
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Saudi Cinema to Return in March 2018, Minister Al-Awwad Says
- December 11,2017
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- SUSTG Team
Saudi Arabia’s Ministry of Culture and Information has confirmed that commercial cinemas will be allowed to operate in the Kingdom as of March 2018, according to a statement by Minister Awwad Al-Awwad. When the first cinema opens, it will be the first public cinema that has been permitted to operate in Saudi Arabia in 35 years. The return of […]
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Omar Bahlaiwa Honored at Johns Hopkins Forum Alongside U.S. Congress Leaders
- December 8,2017
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- SUSTG Team
Omar Bahlaiwa, Saudi businessman, member of the board of directors of the Saudi-US Trade Group (SUSTG), member of the Saudi Committee for International Trade (CIT) and previously Secretary General of CIT as well as acting Secretary General for the Council of Saudi Chambers of Commerce was honored at the Annual Transatlantic Economic Forum held at the Johns […]
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Trump Administration, Saudi Government at Odds over Yemen Blockade, Jerusalem Decision
- December 7,2017
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- SUSTG Team
In an unusual public demand of Saudi Arabia, President Trump has called on Saudi leaders to ease the blockade of Yemen to allow for humanitarian aid to assist the war-torn and decimated country. “I have directed officials in my administration to call the leadership of the Kingdom of Saudi Arabia to request that they completely […]
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Energy Secretary Rick Perry Meets with Top Saudi Leaders; Photos from Visit Go Viral
- December 6,2017
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- SUSTG Team
U.S. Secretary of Energy Rick Perry visited Saudi Arabia over the weekend as part of a tour of three Gulf states, his first trip to the region since becoming the top U.S. energy official. Secretary Perry’s tour of Saudi Arabia was packed with events and visits with key Saudi officials as well as energy institutions in the […]
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UAE, Saudi Arabia to form new ‘Joint Cooperation Committee’
- December 5,2017
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- SUSTG Team
The United Arab Emirates on Tuesday announced it has formed “a new economic and partnership group” that is a “joint cooperation committee” with Saudi Arabia, separate from the Gulf Cooperation Council, in a move that further emphasizes Saudi-UAE alignment amid a diplomatic crisis with member state Qatar. The Emirati Foreign Ministry announcement was made just hours ahead of a […]
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Jadwa Investment Latest Chartbook Highlights ‘Improving Performance’ Indicators in the Saudi Economy
- December 5,2017
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- SUSTG Team
The latest edition of the monthly Chartbook from Jadwa Investment finds economic indicators showed improving performance during the month of October this year, citing a “notable improvement” in cash withdrawals from ATMs and POS transactions. The Riyadh-based bank also noted an $8.2 billion increase (in month-to-month terms) in SAMA FX reserves for the Kingdom, to $493 billion in […]
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Former President of Yemen Ali Abdullah Saleh Killed by Houthi Allies in Major Turning Point
- December 4,2017
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- SUSTG Team
In a major turn in the ongoing civil war in Yemen, former President Ali Abdullah Saleh has reportedly been killed in fighting against his former allies in the three-year old war, the Iran-aligned Houthi militia. Clashes broke out between fighters allied with the armed Houthi militia and those in Saleh’s General Peoples Congress over the […]
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The U.S. Reported to be Assessing Support of Saudi Arabia’s Nuclear Energy Plans
- November 30,2017
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- SUSTG Team
The Trump administration is reportedly holding talks on providing nuclear technology to Saudi Arabia in a move that would be a significant shift in U.S. policy, ProPublica reports. The report notes that, “The Trump administration hasn’t stated a position on whether it will let the Saudis have enrichment and reprocessing technology. An NSC spokesman declined […]
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Crucial Test for Saudi Arabia, Russia on Oil Output at OPEC Meeting in Vienna
- November 29,2017
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- SUSTG Team
OPEC and Russia are facing a “crucial test” on Thursday at a meeting in Vienna as Saudi Arabia and Russia seek to come to an agreement on oil output. Oil traders are expecting OPEC to announce a nine-month extension to supply caps that are currently due to finish at the end of March 2018, but such […]
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Saudi Arabia’s NEOM and KAUST partner to create the world’s largest coral garden in the Red Sea
Officials in Saudi Arabia have announced a joint project to establish the largest coral garden in the world at NEOM, the futuristic mega-city being built in the Kingdom’s northwest. NEOM and King Abdullah University of Science and Technology (KAUST) said that the project that will cover 100 hectares on Shusha Island on the shores of the Red Sea.
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Saudi Arabia agrees to restart Pakistan oil deal to curb Iranian influence: Report
Relations between the two longtime allies soured last summer when Pakistan lashed out at the kingdom for not convening a meeting of the Organisation of Islamic Cooperation (OIC) over India's nullification of Kashmir's special status.
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Wa’ed boosts investment in digital mapping startup in Saudi Arabia
Wa’ed, the entrepreneurship arm of Saudi Aramco, has boosted its investment in a digital mapping and indoor navigation startup in a bid to help it expand globally. Alkhobar-based NearMotion provides mobile navigation tools for airports, hospitals, shopping malls, museums, theme parks and event stadiums, allowing users to get real-time information and services. This will be Wa’ed’s second investment in the company, having previously backed it in 2016.
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Saudi Arabia was Abu Dhabi’s biggest trading partner in 2020, data shows
Abu Dhabi’s trade with Saudi Arabia reached over 44.43 billion dirhams ($12.1 billion) in 2020, making the Kingdom its biggest trading partner during the year.
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Maersk VC co-leads funding round in Egyptian start-up Trella
Egyptian startup Trella, a digital platform connecting truckers with freight loads, has raised $42 million in equity and debt, including from the venture capital arm of shipping giant Maersk, its chief executive said. Founded three years ago in Cairo, Trella operates in Egypt, Saudi Arabia and Pakistan. It is one of several technology firms around the world seeking to upend traditional truck brokerages.
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Visitors to Saudi Arabia must complete COVID-19 registration before departure
All foreign travelers and their companions traveling to the Kingdom must complete registration for their coronavirus (COVID-19) immunization data before departure, according to a circular issued Thursday by Saudi Arabia’s Civil Aviation Authority.
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Making Taxis Part of the Transport Solution in Saudi Arabia
Unlike many transportation agencies, TGA is also responsible for the vast private taxi network in the country. Their job is to ensure all taxis meet the same high standard of safety, comfort, and reliability. Based on this foundation TGA is well-placed to build an expansive national transit system as part of their vision 2030 plans.
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6 Items that require a Custom declaration upon Arrival or Departure to Saudi Arabia
The Zakat, Tax and Customs Authority in Saudi Arabia clarified that there are 6 items that require a customs declaration when leaving the Kingdom or coming to it, including jewelry, cigarettes, gifts and prohibited goods.
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Two artworks featured in ‘Noor Riyadh’ enter the Guinness World Records
Two artworks featured in #NoorRiyadh enter the Guinness World Records, Saudi Arabia's Minister of Culture & Governor of the Royal Commission for AlUla confirmed via Instagram.
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Al-Qasabi: Saudi Arabia aims to be Egypt’s top trading partner
The minister said that there are 6,285 Saudi companies operating in Egypt with investments exceeding $30 billion and there are many opportunities for investment in Egypt, pointing out that there are 285 brands and more than 518 Egyptian companies in the Saudi markets that operate in several fields.
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