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Recent stories from sustg
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Roads of Arabia at the Smithsonian’s Sackler in Washington
- October 28,2012
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- SUSTG Team
In archaeology, Saudi Arabia has been something of a slow starter, but a Washington exhibition of more than 200 statues, funerary objects and other relics shows that the study of the region’s past has come of age. Saudi archaeology “really goes back only 40 years,” says Massumeh Farhad, chief curator and curator of Islamic art […]
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Anne Habiby: Entrepreneurship and Job Creation in the Arab World
- October 24,2012
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- SUSTG Team
In addition to featured speakers such as President Bill Clinton and Mr. Abdullah Alireza the recent C3 Summit in New York City presented a number of compelling panel discussions addressing commercial and trade issues related to doing business in the MENA region. SUSTG has featured the remarks at this event of Abdullah Alireza (Global Economic […]
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The Saudi Economy: Still Shining
- October 22,2012
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- SUSTG Team
A recently released October 2012 economic report by Jadwa Investment finds that a recent flow of data has been generally stronger than expected, and as a result of high oil production (which elevates the hydrocarbon sector growth to 6.1 percent for the year) Jadwa raises its projections for Saudi Arabia’s budget and current account surpluses. […]
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Energy policy: What we need to talk about
- October 18,2012
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- SUSTG Team
For starters, the United States is already over 80 percent (up from 70 percent a decade ago) self sufficient when it comes to energy production and use. We are routinely described as the Saudi Arabia of coal, and have the largest nuclear fleet in the world. We are the world’s largest natural gas producer and […]
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Public policy considerations in Saudi Arabia’s new Arbitration Law
- October 15,2012
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- Richard Wilson
We see plenty of coverage these days of Saudi Arabia’s growing economy; and justifiably so. Expansionary government spending, elevated oil prices, a strong banking system, a maturing private-sector, increasing diversification, growing foreign investment and other factors contribute to an exciting period for Saudi Arabia. While elevated oil prices have fueled Saudi Arabia’s impressive recent growth, […]
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Jadwa Investment: Shifts in Foreign Investor Flows and the TASI
- October 9,2012
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- SUSTG Team
A recently released Jadwa Investment report discusses shifts in foreign investment in the Saudi stock market, also known as the TASI. “Big changes in foreign investment in the Saudi stock market tend to come ahead of moves in the TASI, meaning that local investors can benefit from tracking what foreign investors are doing. In six of the seven […]
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Modernity and tradition: Khalid Habash’s stunning photos of Saudi
- October 1,2012
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- Lucien Zeigler
It is no secret that Saudi Arabia’s economy and society are modernizing at a remarkable pace. Already the Arab world’s largest economy, the Kingdom also has one of the world’s highest GDP growth rates. Government spending is expansive and investment in infrastructure, education and numerous other sectors are at all time highs. Soon to be […]
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Jadwa: Private sector leads real GDP growth in Q2
- September 21,2012
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- SUSTG Team
Jadwa Investment recently released a report about GDP growth in Saudi Arabia, noting that the private sector was leading real GDP growth in the second quarter of 2012. Latest economic growth data released last week confirm that the healthy performance of the Saudi economy continued into the second quarter of 2012 albeit at slower pace than previous […]
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Abdullah Alireza speaks at C3 Summit
- September 20,2012
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- Richard Wilson
SUSTG attended the C3 Summit in New York City September 13-14, 2012. This was the inaugural event in what the organizers anticipate will be an annual gathering to ‘build new relationships, foster existing partnerships and exchange best practices’ between the U.S. and the Arab world. C3 (Community, Collaboration and Commerce) is looking to host the […]
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Total US-Saudi Bilateral Trade Reaches Record-High $39 Billion in H1 2012
- September 17,2012
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- SUSTG Team
Total bi-lateral trade between Saudi Arabia and the United States reached $39 billion in the first six months of 2012, a record high for any half to date. Below are some key US-Saudi trade figures for the first half (H1) of 2012 provided to SUSTG by the Saudi Commercial Office at the Royal Embassy of […]
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MUST-READS
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Saudi Arabia to host first high-level meeting of the Global Coalition for Two-State Solution on October 30
In his speech, Deputy Minister Al-Khereiji emphasized the importance of enhancing the efforts of the Union for the Mediterranean to promote regional security, particularly at a time when the region urgently needs decisive action to halt ongoing escalations, violence, and destruction. He stated, "The Israeli aggression in Gaza and Lebanon has brought the region to a critical crossroads, placing the international community before two existential choices: either to act effectively to support international law and promote a two-state solution, or risk further escalation and deepening suffering, undermining the credibility of international efforts to maintain peace and security in the region."
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Saudi teenager helps connect highschoolers with new opportunities
The young founder’s story begins in 2007, when he was born in Virginia, US, to a Saudi father and American mother. When he was two his family moved to Riyadh where he enrolled in Manarat Al-Riyadh International School (MARIS) and studied there from kindergarten to 12th grade. Approaching the last few years of high school and struggling to find extracurricular projects, Al-Qahtani took it upon himself to create SEFS. He told Arab News that his aim is “to create an online portal for students to connect with new opportunities across all Saudi Arabia … I decided to create something I wished I had at the time. My thought process is if something needed is missing then I need to fill that gap.”
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Saudi Arabia’s PIF pivots to domestic focus, eyes AI revolution, says Al-Rumayyan
“AI could add nearly $20 trillion to the global economy by 2030,” Al-Rumayyan stated, highlighting Saudi Arabia’s ambition to become a global AI hub. The fund is reportedly in early discussions about a potential AI partnership worth up to $40 billion with venture capital giant Andreessen Horowitz. Since its launch, the FII has facilitated deals worth over $125 billion, demonstrating Saudi Arabia’s growing influence in global investment circles. Al-Rumayyan highlighted that while financial returns remain important, investment decisions must balance economic, social, and environmental outcomes.
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World must do more to ensure Middle East security, Saudi minister tells Mediterranean Union
The Saudi deputy foreign minister, Waleed Elkhereiji, spoke at the Union for the Mediterranean’s ninth Regional Forum in Barcelona on Monday about the importance of efforts to enhance regional security, at a time when decisive and practical international action is required to halt a continuous cycle of violence and destruction. He said the region is at a critical crossroads as a result of Israeli aggression in Gaza and Lebanon, which presents the international community with two options: to act effectively in support of international law and to reinforce the need for a two-state solution to the wider Israeli-Palestinian conflict, or to risk further escalations and deeper suffering that undermines the credibility of international efforts to maintain peace and security in the region.
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Saudi Arabia’s FDIs top set agenda, says Al-Falih
The growth of the Saudi gross domestic product since the launch of Vision 2030 reached 70%. During the same period, the local economy ranked the second fastest growing among the G20 nations, despite the oil market shocks and geopolitical turmoil, said the minister in a speech on the first day of the Future Investment Initiative Summit held in Riyadh.
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Saudi Arabia says 540 companies have chosen Kingdom for regional headquarters
Saudi Arabia’s investment minister said on Tuesday the number of companies in the Kingdom with a regional headquarters had reached 540, ahead of a 2030 target of 500. “Our target was 500 regional headquarters by 2030. I’m glad to announce we have reached 540 by this morning,” Khalid al-Falih said during the Future Investment Initiative (FII) conference in Riyadh.
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Passenger traffic at Saudi airports rise to 94M in 9M 2024
The General Authority of Civil Aviation (GACA) said that Saudi Arabia’s airports received 94 million passengers in the first nine months of 2024, a rise of 15% year-on-year (YoY). GACA said the number of flights increased by 10% YoY, while the volume of air freight rose by 52% YoY.
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Saudi Arabia to maintain crude oil output at 12.3M bpd: Energy Minister
Energy Minister Prince Abdulaziz bin Salman said today, Oct. 29, that Saudi Arabia is committed to maintaining crude oil production capacity at 12.3 million barrels per day (bpd). Speaking at the Future Investment Initiative (FII) in Riyadh, the minister added that the Kingdom continues to strengthen and modernize renewable energy transmission lines. He pointed out that Saudi Arabia is ready to export green hydrogen, while ensuring its availability for investors coming to the Kingdom to invest in hard-to-abate sectors.
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Saudi Arabia’s Nabt raises $1.5 million Seed led by Merak Capital
This funding will enable Nabt to accelerate product development and expand its market reach, supporting efforts to transform Saudi Arabia’s fresh produce ecosystem. Founded in 2022, Nabt operates a B2B marketplace connecting farmers directly with businesses, promoting transparency, efficiency, and sustainability. These initiatives contribute to food security in the Kingdom and align with the objectives of achieving self-sufficiency in food production.
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Saudi: Herfy Food swings to losses in 9M-24; revenues down
Herfy Food Services Company shifted to net losses valued at SAR 56.61 million in the first nine months (9M) of 2024, compared to net profits worth SAR 2.76 million in 9M-23. Revenues stood at SAR 868.81 million in 9M-24, down 0.86% year-on-year (YoY) from SAR 876.38 million, according to the interim financial statements. The loss per share hit SAR 0.88 during January-September 2024, versus an earnings per share (EPS) of SAR 0.04 in 9M-23.
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