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In ‘Routine’ Action, New Biden Administration to Review Some Arms Sales from Previous Administration to Saudi Arabia, UAE
- January 28,2021
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- SUSTG Team
President Joe Biden’s administration has temporarily paused some pending arms sales to U.S. allies in order to review them, a move that is typical for most new incoming administrations, especially if arms sales are announced just hours before the outgoing administration departs.
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Energy Minister Prince Abdulaziz bin Salman: New Saudi Cut Is ‘Commercial Choice, Not Political’
- January 7,2021
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- SUSTG Team
Saudi Arabia’s energy minister Prince Abdulaziz bin Salman called this week’s surprise oil output cut for February and March a “wonderful present” for the oil industry and will affect both domestic sales and exports, and said that the choice for a cut was commercial and not political.
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Positive Economic Data Seen in Latest Saudi Chartbook for January 2021 – Jadwa Investment
- January 4,2021
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- SUSTG Team
A more optimistic Saudi private sector reacting to the start of the vaccine rollout in the Kingdom is is being credited for positive data seen for Saudi Arabia’s economy, Jadwa Investment says in its latest Charbook for the month of January 2021. Saudi Arabia’s non-oil PMI saw a significant monthly rise in November, the latest data available and reported […]
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Saudi-led Coalition Strikes Targets in Yemen after Aden Airport Attacked
- December 31,2020
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- SUSTG Team
Saudi-led coalition warplanes struck targets in Yemen’s Houthi-held capital Sanaa on Thursday in retaliation for attacks in the southern port city of Aden the previous day, including at the airport which killed at least 25, according to reports. The attacks at the Aden airport on Wednesday took place as officials in a government backed by […]
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October Data: Saudi Oil Exports Drop $5 Billion, Down Nearly One Third
- December 24,2020
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- SUSTG Team
Saudi Arabia’s oil exports in the month of October fell by 18.9 billion riyals ($5.04 billion), down by nearly a third, while non-oil exports fell by 0.3%, according to data obtained by Reuters.
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Saudi Arabia Joins Dozens of Nations in Blocking International Travel as Mutant Coronavirus Strain Alarms Authorities
- December 21,2020
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- SUSTG Team
Saudi Arabia suspended late on Sunday all international commercial flights for a renewable week except for the foreign flights already in the kingdom which will be allowed to leave, according to reports. The variant, detected in England, is up to 70 percent more transmissible than earlier versions, officials said. People in southeast England, where the […]
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Saudi Arabia Unveils 2021 Fiscal Budget with Spending Reductions, Eying Economic Rebound
- December 16,2020
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- SUSTG Team
Saudi Arabia unveiled a new budget for the 2021 year, cutting spending to rein in a fiscal deficit brought on by a lower oil prices in 2020 and adjusting the Kingdom’s fiscal strategy to a post-Coronavirus pandemic era.
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Saudi Prince Turki al-Faisal Offers Harsh Criticism of Israel at the Manama Dialogue Summit
- December 7,2020
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- SUSTG Team
Saudi Arabia’s Prince Turki al-Faisal harshly criticized Israel on Sunday at the Manama Dialogue summit that was remotely attended by Israel’s foreign minister, demonstrating the chasm that still exists between the two nations as reports claim that a deal to establish diplomatic ties may happen soon.
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OPEC+ Agrees on Output Increase by by 500,000 Barrels a Day in January – Reports
- December 4,2020
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- SUSTG Team
OPEC and Russia on Thursday agreed to a slight increase in production quotas in January, reducing their deep oil output cuts from January by 500,000 barrels per day, according to reports. The decision taken by OPEC and Russia signals the world’s biggest producers “are betting the worst of a pandemic-inspired shock to demand is behind them,” according to the […]
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Gradual Private Sector Recovery Underway in Saudi Arabia, Latest Data Indicates – Jadwa Investment
- December 1,2020
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- SUSTG Team
Saudi Arabia’s private sector is beginning to see signs of a gradual recovery, with non-oil PMI rising for the second consecutive month in October, Jadwa Investment says in its latest monthly Chartbook for the Saudi economy.
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MUST-READS
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Qatar no playground for playmakers as defenders clamp down
A high number of 0-0 draws in the group stage of the Qatar World Cup has seen playmakers squeezed out by defensive solidity and organisation, closing down the spaces that the world's most creative players usually thrive in. The four scoreless draws in the first 16 games in Qatar quickly eclipsed the one such stalemate in the group stage in Russia in 2018, as teams string five men across the back to protect themselves from the likes of Argentina's Leo Messi, Croatia's Luka Modric and Denmark's Christian Eriksen.
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Saudi Arabia brought down to earth by Poland at World Cup
Saudi were beaten 2-0 at Education City Stadium on Saturday, when Piotr Zielinski and Robert Lewandowski struck towards the end of each half, and Salem Al Dawsari’s missed penalty and Abdulellah Al Malki’s mistake proved too costly. Saudi were dominant yet not decisive, the better team for much in front of a fervent support, but their World Cup dream remains in the balance. Attempting to reach the knockouts for only the second time in six attempts, they have it all to do again in Group C. It comes down to Mexico on Wednesday.
- Al-Arabiya - Herve Renard: ‘Proud of players’ as no one imagined Saudi could play at this level
- Fox - Saudi Arabia’s coach Herve Renard’s viral speech is everything
- Daily Mail - Robert Lewandowski was worthy of his big World Cup moment but Wojciech Szczesny was the real hero as Poles claimed a crucial win
- Reuters - Saudi Arabia in the mix for last 16 ahead of Mexico clash
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Europe to be hit hardest in global slowdown -OECD
The global economy should avoid a recession next year but the worst energy crisis since the 1970s will trigger a sharp slowdown, with Europe hit hardest, the OECD said, adding that fighting inflation should be policymakers' top priority. National outlooks vary widely, although Britain's economy is set to lag major peers, the Organisation for Economic Cooperation and Development said on Tuesday.
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Iran hit by deadly shootings as protesters mark anniversary of 2019 crackdown
Gunmen on motorcycles in Iran have killed at least seven people in two separate cities, in incidents described by state media as "terrorist attacks." This comes as protesters have hit the streets and some businesses have gone on strike for the second day in a row to mark the third anniversary of the deadly 2019 crackdown on nationwide protests.
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Israeli Business in Saudi Arabia Emerges From Shadows at Investment Conference
On Thursday, the final day of the conference, the chairman of one of Israel’s top banks said he would like to invest in Saudi Arabia’s fintech industry. “The opportunities are amazing,” Bank Leumi’s Samer Haj-Yehia said on a panel that included the Saudi Export-Import Bank’s chief executive. He said he saw the Saudi economy as “very healthy, unlike other economies around the world, and the prospects for the future are very positive.
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Saudi Downtown and Aramco sign MoU to support SMEs sustainability and growth in Saudi cities
Saudi Downtown Company, a fully-owned subsidiary of the Public Investment Fund that will develop downtown projects in 12 Saudi cities, and Aramco, signed a Memorandum of Understanding (MoU) for collaboration to create opportunities for local SMEs, enhance their sustainability, and enable them to grow in a number of Saudi cities.
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UN showdown over Iranian drones looms as IRGC trainers reported in Ukraine
Ayatollah Ali Khamenei's remarks also come as Ukraine, the US and its allies push for the Islamic Republic's reported arms transfers to Russia to be recorded as a violation of United Nations Security Council Resolution 2231, which endorses the 2015 Iran nuclear deal. If UN sanctions lifted under the nuclear accord are re-imposed on Iran, it could trigger further escalation with the west.
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Iran protests over woman’s death persist despite crackdown
While observers do not believe the unrest, now in its fourth week, is close to toppling the government, the protests mark one of the boldest challenges to the Islamic Republic since the 1979 revolution, with reports of strikes spreading to the vital energy sector. The authorities are waging a deadly crackdown. Videos on social media showed trucks moving dark green tanks to Kurdish areas, raising the stakes in the revolt. Reuters could not verify the video footage.
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Iran protests over woman’s death persist despite crackdown
Clashes between protesters and security forces persisted across Iran on Tuesday, with social media videos showing tanks being transported to Kurdish areas, which have been a focal point of the crackdown on protests over Mahsa Amini's death in custody. Protests calling for the fall of the clerical establishment have swept Iran since Amini, a 22-year-old Iranian Kurdish woman, died on Sept. 16 while being detained by the morality police in Tehran for "inappropriate attire".
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Saudi Downtown Company Created to Catalyze Central Business Development in Smaller Saudi Cities
In early October, Saudi Arabia’s Crown Prince Mohammed bin Salman (MBS) revealed the creation of the Saudi Downtown Company (SDC), which is part of the Public Investment Fund. The Saudi Downtown Company (SDC) aims to build and develop downtown areas and mixed-use destinations in 12 cities throughout Saudi Arabia. The 12 cities include: Al-Madinah, Al-Khobar, Al-Ahsa, Buraidah, Najran, Jizan, Hail, Al-Baha, Arar, Taif, Dumat Al-Jandal, and Tabuk.
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