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Contemporary Saudi Art Exhibit Continues Tour of America
- August 24,2016
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- SUSTG Team
Today’s SUSTG Review includes a review from the East Bay Express about GENERA#ION, a traveling show presenting contemporary art from Saudi Arabia that is now on view in a number of galleries in San Francisco. The East Bay Express gives the show a strong recommendation and, in fact, the exhibition has been very well-received as […]
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Saudi CMA Presses on Adoption of International Financial Reporting Standards
- August 22,2016
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- SUSTG Team
The Saudi Capital Market Authority (CMA) continues to press forward it’s efforts to make the Saudi stock market (Tadawul) more attractive to foreign investors. Earlier this month the CMA approved amended rules for Qualified Foreign Investors by lowering the asset qualifications as well as adjusting upwards some key ownership limitations. For more on those changes […]
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Social Media Lights Up after First Saudi Woman Competes in 100m in Rio
- August 15,2016
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- SUSTG Team
Saudi Sprinter Kariman Abuljadayel made history as the first woman ever to compete in the 100m dash in the Olympics at Rio, and she did it covered from head-to-toe. The sprinter did not qualify for the final event, but her participation in the 100m dash – like Sarah Attar’s participation in the 800m race in London in […]
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Amended Rules Increasing Foreign Investor Access to Saudi Stock Market Approved
- August 11,2016
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- SUSTG Team
Saudi Arabia’s Capital Market Authority (CMA) Board has approved changes to rules that regulate what type of foreign investor can enter into the Saudi stock market. The changes include 24 Articles that address procedures, requirements, and conditions for the registration of qualified foreign investors (QFIs) with the CMA to invest in listed securities in the Saudi […]
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Saudi Arabia Confirms Cooperation with Germany to Investigate, Prevent Terrorist Attacks
- August 8,2016
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- SUSTG Team
Saudi Arabia’s has confirmed it was working with German investigators to track Islamist militants behind bomb and axe attacks in July. The news was originally reported by the German outlet Der Spiegel and confirmed in rare comments by a Saudi spokesman. A spokesman for the Saudi interior ministry, General Mansour al-Turki, said Saudi and German security experts […]
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Jadwa Saudi Chartbook for August 2016: Signs of ‘Resilience’ in Saudi Economic Activity
- August 3,2016
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- SUSTG Team
Jadwa Investment’s Saudi Chartbook for the month of August found points of “resilience” in economic activity, according to chief economist and head of research Fahad Al-Turki. “June data showed resilience in economic activity. Data on point-of-sale transactions and ATM withdrawals came out strong, while the non-oil PMI continued to reflect an expanding non-oil economy,” Jadwa said. Data on […]
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11 Saudi Citizens Including 7 Soldiers Die on Border with Yemen ahead of Next Round of Peace Talks
- August 1,2016
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- SUSTG Team
Four people were killed and three wounded in Saudi Arabia when a shell fired from inside Yemen exploded in a town close to the border, Saudi Civil Defense said on Monday. The announcement followed news that seven Saudi soldiers and dozens of Houthi fighters were killed in heavy fighting on the border with Yemen on […]
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Deputy Crown Prince Mohammed bin Salman Back in U.S. for Defense, Anti-ISIS Talks
- July 21,2016
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- SUSTG Team
Deputy Crown Prince Mohammed bin Salman arrived in the United States for a second time in as many months this week for a defense ministerial meeting of nations involved in the effort to counter the self-described ISIS in Iraq and Syria, held at Joint Base Andrews, Maryland. Coalition partners taking part in the meeting “are looking for […]
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’28 Pages’ Released: Once-Classified Section of 9/11 Report Made Public; Saudi FM Al-Jubeir Says Matter Now ‘Finished’
- July 18,2016
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- SUSTG Team
The U.S. Congress on Friday released a long-classified section of the official report on the Sept. 11 attacks that described potential potential links between some of the hijackers and officials in Saudi Arabia. Saudi Arabia’s foreign minister said on Friday he welcomed the release of this “28 pages” of the official report. “The matter is […]
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Saudi King, Crown Prince and Deputy Crown Prince Express Condolences to France’s Hollande after Nice Terror Attacks
- July 15,2016
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- SUSTG Team
Saudi Arabia’s top leadership expressed their condolences for the tragic act of violence in Nice, France on the country’s Bastille Day celebration. King Salman, Crown Prince Mohammed bin Naif and Deputy Crown Prince Mohammed bin Salman sent a cable of condolence to the the French leader about the attack. An official source told SPA the […]
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UN experts call on Saudi Arabia to halt imminent executions amid sharp rise
United Nations human rights experts have called on Saudi Arabia to halt the planned executions of three foreign nationals, amid a significant spike in the Kingdom’s use of the death penalty in recent years. According to two UN Special Rapporteurs – Morris Tidball-Binz, the Special Rapporteur on extrajudicial, summary or arbitrary executions, and Alice Jill Edwards, the Special Rapporteur on torture – three Egyptians were executed by Saudi authorities on Tuesday this week, with two more Egyptian nationals and a Jordanian national due to be executed imminently. The reported upcoming death sentences come as the Kingdom’s executions this year have risen to over 300 people, a record increase in the penalty amid a general rise in the practice in recent years.
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Saudi Arabia launches Milaf Cola, world’s first date-based soft drink
Saudi Arabia recently launched a rather unusual cola, crafted not from corn syrup or cane sugar but from the nation’s most prized fruit—dates. Named Milaf Cola, the drink was developed by Thurath Al-Madina, a subsidiary of the Saudi Arabian Public Investment Fund, and launched at the Riyadh Date Festival by the company’s CEO, Bander Al-Qahtani, and the Saudi agriculture minister Abdulrahman Al-Fadley. The cola’s star ingredient are premium dates which are packed with fiber, antioxidants, and essential minerals such as magnesium and potassium, and are revered in the Middle East for their health benefits. Milaf Cola claims it contains no added sugar and is able to harness the superfood’s health benefits, positioning itself as a healthier alternative to conventional sodas without compromising on flavour.
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Aramco to develop CCS in Saudi Arabia
Saudi Aramco has signed a shareholders’ agreement with Linde and SLB for development of a carbon capture and storage (CCS) hub in Jubail, the Eastern Province of the Kingdom of Saudi Arabia. Phase one of the new CCS hub is expected to capture and store up to 9 million metric tons/year of CO2 from three Aramco gas plants and other industrial sources. The captured CO2 will be transported through a pipeline network and stored below ground in a saline aquifer sink, the operator said in a release Dec. 4. Construction is expected to be completed by end-2027. Later phases could further expand capacity. The overall project is aimed at supporting Aramco's ambition to achieve net-zero Scope 1 and gas emissions across its wholly owned operated assets by 2050.
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Saudi Arabia extends term of $3 bln deposit with Pakistan for another year
Saudi Arabia has extended the term of a $3 billion deposit placed with Pakistan to support its economy for another year, Pakistan's central bank said on Thursday. The term of the deposit, which was maturing on Thursday, was initially signed with State Bank of Pakistan in 2021, and was subsequently rolled over in 2022 and 2023, the bank said.
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Why Assad’s regime is collapsing so quickly
A coalition of armed opposition factions has gone on the offensive in northern Syria, capturing some 250 cities, towns, and villages and more than doubling the territory under its control. Syria’s second-largest city of Aleppo was captured in 24 hours, as Syrian regime front lines collapsed one after the other. After nearly five years of territorial lines of control being frozen across the country, these are dramatic, game-changing developments.
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French President Emmanuel Macron visits Saudi Arabia’s historic AlUla Valley
French President Emmanuel Macron visited the historic AlUla Valley on Wednesday as part of his state visit to Saudi Arabia. Accompanied by the Minister of Foreign Affairs Prince Faisal bin Farhan, Macron began his tour at Hegra, the ancient Nabataean city known for its spectacular stone-carved landmarks, Saudi Press Agency reported. Hegra, also known as Mada’in Salih, was Saudi Arabia’s first UNESCO World Heritage Site. Macron was guided through the most prominent monuments and archaeological sites in the area.
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The new ‘rivers’ of Saudi Arabia
The giant pipelines that criss-cross the country to distribute the desalinated water have been recognised by Guinness World Records as the world’s largest water distribution system – with a total length of more than 14,000km. Indeed, so vast is the network that if all these giant pipelines were laid one after the other, they would roughly stretch from Saudi capital Riyadh, which lies in the centre of the country, to Guadalajara, in western Mexico. The total distribution network is more than 130,000km long, while the collection network stretches to over 50,000km in length, said Mr Al Abdulkarim.
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Two-time Major champion Dustin Johnson announced as latest Golf Saudi ambassador
Two-time PIF Saudi International powered by SoftBank Investment Advisers champion Dustin Johnson has today been announced as Golf Saudi’s newest high-profile ambassador – as the sixth edition of the $5million tournament entered its second day at Riyadh Golf Club. In his ambassadorial role, American Johnson – who won Golf Saudi’s landmark men’s event in both 2019 and 2021 and is competing in Riyadh this week – will help further drive the growth of golf within Saudi Arabia, working closely with country’s National Teams to deliver year-round lessons and coaching.
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Cynthia Erivo, Will Smith, Michelle Yeoh, Emily Blunt Help Open Saudi Arabia’s Red Sea Film Festival
The Red Sea International Film Festival has officially kicked off its fourth edition as A-listers and international auteurs converged in Jeddah’s old town of Al-Balad in Saudi Arabia’s second-largest city for a decidedly glamorous opening ceremony. Emily Blunt, Cynthia Erivo, Eva Longoria, Michelle Yeo, Michael Douglas and Catherine Zeta-Jones in a flowing blue sky gown and cape, Squid Game breakout Hoyeon, Michelle Rodriguez, Bollywood star Aamir Khan, competition jury president Spike Lee, action stars Will Smith and Vin Diesel, Kareena Kapoor, Saudi actor Khaled Yeslam and Daniel Dae Kim were among the global stars in lavish outfits at the opening gala on Thursday night. The glamorous event saw the stars converge on the main building of the city’s new Culture Square that mixes traditional architecture and modern technology. The site is being touted as “the new home of film” in Jeddah and Saudi Arabia.
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Saudi trades in US equities reach 2-year high at $23.88B
Saudi investors executed sell and buy transactions on US equities totaling SAR 89.7 billion, reflecting an increase of approximately SAR 47.1 billion, or 111% year-on-year (YoY), the highest level in two years. Trading by Saudis in US stocks jumped by 53%, or SAR 31.1 billion, compared to SAR 58.6 billion in Q2 2024. The CMA report on the trading value of local authorized brokers in the global markets does not include either details of the number of Saudi portfolios abroad, the number of investors trading directly through foreign brokers, or their trading volumes.
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