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Recent stories from sustg
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Saudi Arabia Confirms Lifting General Travel Ban May 17; U.S. Among 20 Countries to Remain on List
- April 23,2021
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- SUSTG Team
Saudi Arabia confirmed that it would resume international flights at 1 a.m. on May 17, but will exclude 20 countries where the ban on flights continues as part of preventive measures to curb the spread of the coronavirus disease (COVID-19), Saudia airline said.
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Saudi Arabia Red Sea Development Co. On Track to Clinch $3.7 ‘Green Loan’ from Local Banks
- April 20,2021
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- SUSTG Team
Saudi Arabia could be just weeks away from clinching the first significant funding package for a key part of Crown Prince Mohammed bin Salman’s program to diversify the Kingdom’s economy, Bloomberg reports. The Red Sea Development Co.’s 14 billion-riyal ($3.7 billion) loan is set to close with a small group of local banks including Saudi National […]
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Oil Rises Above $67 in Fifth Day of Gains as Demand Outlook Looks Strong
- April 16,2021
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- SUSTG Team
Oil rose above $67 a barrel on Friday, gaining for a fifth session, “as a stronger demand outlook and signs of economic recovery in China and the United States offset rising COVID-19 infections in some other major economies,” Reuters reports.
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New KAPSARC Paper Examines Economic Diversification Under Saudi Vision 2030
- April 14,2021
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- SUSTG Team
A new paper published by the King Abdullah Petroleum Studies and Research Center (KAPSARC) in Saudi Arabia examines the Kingdom’s advances in economic diversification so far under Saudi Arabia’s Vision 2030 social and economic reform plans, launched in 2016.
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KAPSARC Commentary Paper Explores the Potential Effect of Parking Fees on Metro Ridership
- April 8,2021
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- SUSTG Team
As Saudi Arabia’s sprawling capital city Riyadh prepares to begin operation of the first lines of its long-awaited metro system, authorities and researchers are now faced with the task of getting the Kingdom’s citizens used to riding it.
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Viral Videos Show Sandstorms Engulfing Riyadh, Other Cities in Saudi Arabia
- March 15,2021
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- SUSTG Team
Viral videos emerging from social media show parts of Saudi Arabia experiencing an intense sandstorm which engulfed cities and towns in the Kingdom and forcing authorities to issue a weather warning.
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Oil Rises to $69 a Barrel on Brent as OPEC+ Supply Curbs Boost Prices
- March 9,2021
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- SUSTG Team
Oil rose to around $69 a barrel on Tuesday, a day after jumping above $70 for the first time in over a year as investors focused on prospects for tighter supply due to extended OPEC+ output curbs and amid growing hopes of a recovery in demand, according to a report from Reuters.
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No Damage from Attempted Houthi Missile Attack on Saudi Aramco Facility, Oil Temporarily Spikes
- March 8,2021
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- SUSTG Team
An attempted Houthi missile and drone strike on a Saudi Aramco facility in Dhahran did not cause any loss of life or damage to property, but initial concern over the attack caused oil’s price to spike on international indices before paring back those gains, Saudi authorities said.
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Saudi Arabia’s Tourism Ambitions Expand to Mountainous Asir Province
- February 25,2021
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) launched a new venture that will invest $3 billion in developing tourism and infrastructure in the southwestern mountainous Asir region, according to Reuters and Saudi Arabia’s official press agency.
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Despite Uncertainty, Saudi Economy to Experience Broad-Based Recovery in 2021 – Jadwa Investment
- February 24,2021
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- SUSTG Team
Saudi Arabia will experience a broad-based economic recovery in 2021 as the Kingdom moves beyond the damage caused by the Coronavirus pandemic and low oil prices, Jadwa Investment said in a recent research note. The Riyadh-based bank’s expectations for the Kingdom’s economy come despite a “considerable degree of uncertainty” surrounding the Coronavirus and vaccination roll-outs across […]
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Gen. H.R. McMasterH.R. McMaster dodges questions about whether he can work with Steve Bannon
White House National Security Adviser Gen. H.R. McMaster on Sunday dodged questions about whether he can work with Chief Strategist Steve Bannon.
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Yemen Civil WarYemen central bank complains to Saudi-led coalition about cash deliveries
Yemen's central bank has complained to its allies in a Saudi-led military coalition about a lack of cash deliveries needed to pay salaries, in a sign of the government's struggle to keep the war-torn country's economy afloat.
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AfghanistanThe Taliban is sowing terror in remote, new areas of Afghanistan
The Taliban, making a summer show of force as the Trump administration weighs its options in the nearly 16-year war, has been stymied in earlier efforts to take over major cities. The insurgents are now refocusing their strategy to showcase their wide geographical reach.
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Afghanistan PolicyPentagon to Bannon’s Blackwater Buddy Erik Prince: GTFO
At the Pentagon, according to a knowledgeable former senior official, opposition to Prince’s proposal—details of which were first reported by USA Today—for a “viceroy” to run Afghanistan through a paid army runs high. “The Pentagon is not interested in privatizing the war in Afghanistan,” the former official told The Daily Beast.
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AfghanistanTaliban suicide bomber strikes NATO convoy in Afghanistan
A suicide bomber struck a NATO convoy near the southern Afghan city of Kandahar on Wednesday, the U.S. military said, adding that there were casualties but without providing more information.
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SoftBank Vision FundVCs are ‘baffled’ by SoftBank’s $100 billion tech fund
Venture capitalists across Europe are "baffled" and "bewildered" by the size and frequency of the tech investments being made by Japanese tech giant SoftBank.
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BroadbandSaudi Arabia to pay two state firms $1.14 bln for broadband rollout
STC said in May it had signed an agreement with the government to connect 1.3 million housing units with fibre optic lines by the end of 2020. Separately, Saudi Electricity Company (SEC) said it would be paid 1.56 billion riyals to connect 744,500 locations by 2020.
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Hezbollah9,000 Syrians cross from Lebanon to Syria in ceasefire deal
Around 9,000 Syrians including jihadists and their families will cross from Lebanon into Syria as part of a ceasefire deal between a former al Qaeda affiliate and Hezbollah, the Lebanese militia said in a statement on Monday
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Domestic SukukSaudi Arabian local Sukuk issuance is credit positive for Islamic Banks
The issuance is credit positive for Saudi banks because their profitability will benefit from the transfer of their large, low-yielding reserves of cash and placements with the Saudi Arabian Monetary Authority (SAMA) and banks to higher-yielding government Islamic bonds.
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Al Aqsa MosqueArab foreign ministers vow to never abandon Al Aqsa
Arab foreign ministers pledged to never abandon Al Aqsa Mosque, the third holiest in Islam, during an emergency meeting held in Cairo at the Arab League headquarters on Thursday.
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