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VICE Video: ‘Building Saudi Arabia’s First Movie Theatre’
- June 23,2017
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- SUSTG Team
VICE News has posted a video on the burgeoning entertainment industry in Saudi Arabia and the challenges of creating original content in the Kingdom. “There is strong content being created by Saudis in the underground filmmaking scene. The challenges Saudi artists face, instead of lessening the quality of their work, actually add layers, nuance and […]
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Transfer of Tiran and Sanafir Islands Approved by Egypt’s Parliament
- June 15,2017
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- SUSTG Team
Egypt’s parliament has approved the transfer of two key islands in the Red Sea to Saudi Arabia, all but finalizing a deal to restore ownership of the islands to Saudi Arabia after more than half a century. The parliament, after “three days of rowdy and emotional debate” according to the New York Times, approved a […]
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Jadwa Investment Data Shows ‘Mildly Improving Picture’ for Saudi Economy
- June 5,2017
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- SUSTG Team
Riyadh-based Jadwa Investment’s recently released Economic Chartbook for the month of April finds data continues to “show a mildly improving picture,” according to Fahad Alturki, Jadwa’s Chief Economist. “Economic data continues to show a mildly improving picture in April. POS transactions jumped 11.4 percent, year-on-year, and although ATM withdrawals remain negative year-on-year, they showed an […]
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Custodian of the Two Holy Mosques, Ruler of Saudi Arabia, and King of Twitter
- June 1,2017
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- SUSTG Team
Saudi Arabia’s King Salman is ruler of more than just the Kingdom of Saudi Arabia. King Salman is the world leader whose original Tweets generate the most Retweets, according to the latest “Twiplomacy” study by the communications firm Burson-Marsteller. But unlike President Trump, King Salman publishes sparingly, with only 10 Tweets posted during the study. And […]
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Gulf Spat Following President Trump’s Visit to Saudi Arabia Tests GCC Unity
- May 31,2017
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- SUSTG Team
Tensions continue to run high for a sixth straight day in the GCC between Saudi Arabia and Qatar regarding relations with regional rival Iran, according to reports. Despite a strong show of unity for the recent visit of President Trump to the Kingdom, “[t]ensions in the Gulf were laid open for a sixth day, with […]
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Deputy Crown Prince Mohammed bin Salman in Moscow to Meet with Russian President Vladimir Putin
- May 30,2017
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- SUSTG Team
Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman and Russian President Vladimir Putin met today in Moscow as the Kingdom and Russia work together on oil production cuts, Reuters reports. Russia and Saudi Arabia played key roles in a successful global deal which saw oil production curtailed by 1.8 million barrels per day as part of […]
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Overview of Saudi Arabia’s Drive Toward Privatization
- May 17,2017
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- SUSTG Team
Saudi Arabia’s push toward privatization is a key component of the government’s ambitious Vision 2030 economic and social reform program, and necessary for the Kingdom’s goals of diversifying its economy away from petroleum revenue dependency. The news service Reuters provides a “factbox” list of Saudi Arabia’s sectors that are making progress toward privatization, and encouraging […]
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Ahead of Trump’s Visit, White House Official Tells Reuters $100b in Arms Deals Planned
- May 15,2017
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- SUSTG Team
The United States is close to completing a series of arms deals with Saudi Arabia totaling more than $100 billion, a senior White House official told Reuters on Friday, a week ahead of President Donald Trump’s planned visit to Riyadh. The arms deals could reach up to $300 billion over 10 years to help Saudi […]
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Major Reduction in Quarterly Budget Deficit Figures a Positive for Kingdom’s Economic Reforms
- May 11,2017
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- SUSTG Team
In an analysis of official data from the Kingdom, Bloomberg found a significant year-on-year reduction in Saudi Arabia’s budget deficit from Q1 2017, a sign that the Kingdom’s economic reforms coupled with an uptick in oil prices have positively impacted the government’s balance sheet. According to Saudi Arabia’s finance ministry and as reported in Bloomberg, […]
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Plans Move Ahead for Saudi Arabia’s ‘Fannie Mae’ Mortgage-Refinancing Firm
- May 4,2017
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- SUSTG Team
Saudi Arabia’s first mortgage-refinancing firm has started approaching banks to buy their mortgage portfolios as the state tries to boost lending for homes, Bloomberg reports. In 2015, Bloomberg and Reuters reported on Saudi Arabia’s plans to work with the Boston Consulting Group to help start a state-owned mortgage firm similar to the U.S.’s Fannie Mae and […]
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MUST-READS
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At Center of Taliban Deal, a U.S. Envoy Who Made It Personal
It seemed a thankless and impossible assignment: negotiating a deal with the Taliban that offers the United States an exit from its longest war. But Zalmay Khalilzad, the Afghan-born American envoy and architect of the deal, drew on everything he had to pull it off: broad autonomy from his bosses in Washington, nearly four decades of experience in U.S. academia, government and diplomacy, and a lifetime of dealing with tumultuous Afghan politics.
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Afghan peace talks: The woman who negotiated with the Taliban
Fawzia Koofi's childhood dream of becoming a doctor was dashed when Taliban militants took over Afghanistan in the 1990s. The group, which banished women from public life, imprisoned her husband - and tried to kill her when she later became a politician. But she ended up talking to the Taliban, who are now on the brink of a peace accord with US forces that drove them from power.
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Iran Faces Long-Term Banking Woes Under Terror-Finance Watchdog Action
The Financial Action Task Force’s action against Iran was made more permanent by a little-noticed clause that gives the U.S. and its allies the ability to block removal of the sanctions even if Tehran adopts new antiterror and money-laundering regulations. The blacklisting and associated sanctions are expected to further choke Iran’s remaining financial and trade ties and politically isolate the country.
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Saudi economy set to grow this year, driven by non-oil sector – central bank
Even as the oil-based economy suffers, economists have said Saudi investments in non-oil infrastructure projects led by the Public Investment Fund will continue to support economic activity this year. Saudi non-oil economic output grew 4.33% in the third quarter of 2019, even though the overall economy contracted by 0.46%, hit by a drop in oil production.
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Five things to know about emerging US, Taliban peace deal
If the reduction in violence holds, U.S. and Taliban negotiators will sign the broader agreement Feb. 29, starting a phased withdrawal of U.S. troops in exchange for Taliban guarantees that Afghanistan will not be used as a base for terrorist attacks against the West.
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Broadband Services in Saudi Arabia Set to Receive Significant Boost From New Open Access Initiative
In a first-of-its-kind initiative led by Saudi Arabia’s telecoms regulator, the Communications and Information Technology Commission (CITC), all the six Telecom Service Providers in Saudi Arabia signed an open access agreement guaranteeing the provision of fiber-to-the-home (FTTH) broadband services through any subscriber-selected service provider, independent of fiber infrastructure ownership.
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Pompeo announces ‘understanding’ between U.S. and Taliban
“After decades of conflict, we have come to an understanding with the Taliban on a significant reduction in violence across #Afghanistan,” Pompeo wrote on Twitter, describing the latest development as “an important step on a long road to peace,” and calling on Afghans “to seize this opportunity.”
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Traveling private collection of Banksy artworks lands in Saudi Arabia
The traveling exhibition, which has already made its way to Amsterdam, Berlin, Melbourne, and Paris, will land in an Arab country for the first time ever. It showcases over 80 iconic creations from multiple private collections including photographs, multi-media prints, and a documentary on the artist and his work.
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LebanonIMF team to visit Lebanon for consultations as debt restructuring appears probable
A small IMF staff team will visit Beirut from February 20–23 “to listen to the authorities’ views on how they plan to face Lebanon’s economic difficulties, to take stock of recent macroeconomic developments, and provide broad technical advice on policies to deal with the macroeconomic challenges facing the economy,” Gerry Rice, the IMF’s director of communications and spokesman said in a statement.
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LebanonLebanon’s Yields Hit 1,000% as Government Calls in Bond Advisers
The Beirut-based Al-Akhbar newspaper reported Wednesday that the Lebanese government will formally ask financial and legal advisers how it should handle its Eurobonds, with a view to potentially restructuring them. Lebanon is reaching out to banks including Citigroup Inc., Rothschild & Co. and JPMorgan Chase & Co., the newspaper said. It didn’t say where it got the information.
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