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Saudi Health Officials, Experienced with MERS-CoV, Take Preventative Measures against New ‘Wuhan’ Coronavirus
- January 23,2020
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- SUSTG Team
Officials in Saudi Arabia are taking precautions to stop the spread of a new coronavirus from China, screening arriving passengers and nurses to prevent a public health threat, according to reports.
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The Economic Impact of Saudi Arabia Hosting the G20 Summit
- January 16,2020
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- SUSTG Team
A recent report from Jadwa Investment looks at the economic impact of Saudi Arabia hosting the G20 Summit, noting that while the Riyadh has hosted major summits before, “the G20 summit differs due to the sheer number of different events related to it” with more than 120 workshops, ministerial meetings and specialized seminars scheduled throughout […]
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Prince Khalid bin Salman Meets with President Trump at White House
- January 7,2020
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- SUSTG Team
Saudi Arabia’s deputy defense minister Prince Khalid bin Salman held several meetings with top U.S. officials yesterday in Washington, D.C., including Secretary of Defense Mark Esper, Secretary of State Mike Pompeo, and President Donald Trump.
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A Look at Saudi Arabia’s 2020 Budget
- December 12,2019
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- SUSTG Team
This week, Saudi Arabia unveiled its 2020 budget, which signals an end to the expansionary trend of recent years, assumes lower oil prices than in 2019, and continues to invest in the economic diversification as outlined in the Kingdom’s Vision 2030 economic and social reform plans.
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Saudi Aramco Soars 10% in Debut in ‘Vindication’ for Company
- December 11,2019
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- SUSTG Team
Saudi Aramco’s shares rose SAR 3.20, or 10% (the daily limit) to 35.2 riyals in Riyadh, raising the company’s valuation to $1.88T. The debut, by any measure, is a success, and officially makes Saudi Aramco the world’s most valuable company.
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Saudi FM Prince Faisal bin Farhan Meets with Secretary of State Mike Pompeo
- November 15,2019
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- SUSTG Team
Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan has met with US Secretary of State Mike Pompeo in Washington on Thursday ahead of an international meeting of countries committed to defeating ISIS, according to reports and social media. “During the meeting, they discussed the Saudi-US long-established strategic partnership, especially the partnership in the fight against […]
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Saudi-based STV Leads $23 Million Funding Round in Trukker
- November 12,2019
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- SUSTG Team
Saudi-based Saudi Technology Ventures (STV) said in a blog post that it is leading a $23 million investment round in Trukker, a truck-focused digital freight marketplace and aggregator based in the UAE. “Today, truck drivers must communicate with brokers via phone calls in order to negotiate pricing of each transaction and discuss capacity and routes,” […]
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State Department Lauds ‘Strong counterterrorism relationship’ between Saudi Arabia and the United States
- November 4,2019
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- SUSTG Team
The U.S. State Department’s recently-released country reports on terrorism praised the U.S.-Saudi “strong counterterrorism relationship” and said “through a range of counterterrorism initiatives, many in partnership with the U.S. government, Saudi Arabia took tangible steps to strengthen its counterterrorism capabilities in border security, counter terrorist financing, and [countering violent extremism].” “Based on local reporting, Saudi Arabia […]
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Venture Capital Set for Ten-fold Growth Over the Next Six Years in Saudi Arabia
- October 16,2019
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- SUSTG Team
Venture capital investments in Saudi Arabia are set to grow ten-fold over the next six years, according to a new report by Saudi Technology Ventures published by The National. The report says that Venture funding investments are at a “positive inflection point” and are set to grow to $500 million annually by 2025, from $50m last […]
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To the Delight of Fans, Saudis Play Soccer Match in West Bank for First Time in Decades
- October 15,2019
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- SUSTG Team
Saudi Arabia’s soccer team will play against the national team in Palestine in the West Bank for the first time in over a decade, delighting fans from both sides. The match, planned for Tuesday, has “electrified Palestinians” not just because it’s a World Cup qualifying match, but because it’s a home game actually played at […]
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MUST-READS
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Mortgage RefinancingSaudi Fannie Mae to Start Buying Mortgage Portfolios From Banks
The state-run company, created to develop a secondary market for home loans, will have 5 billion riyals ($1.3 billion) of its own capital and will work with the government’s Real Estate Development Fund (REDF) to invest another 5 billion riyals buying mortgage portfolios, Housing Minister Majed al-Hogail told reporters in Riyadh on Wednesday.
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AfghanistanTaliban controls or contests 40 percent of Afghan districts: SIGAR
The Taliban controls 11 districts and influences 34 of Afghanistan’s 407 districts (11 percent), while the Afghan government controls 97 districts and influences 146 (60 percent). Twenty-nine percent of Afghanistan’s districts remain contested. Taliban control of Afghan districts has increased one percent, while Afghan control has increased by 2.5 percent, according to SIGAR.
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Banking and FinanceInvestcorp Appoints Ex-Morgan Stanley Banker as Saudi Arabia CEO
Investcorp Bank BSC, the Bahrain-based private equity firm, appointed former Morgan Stanley banker Gabriel Aractingi as chief executive officer for its business in Saudi Arabia.
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AfghanistanAfghan Taliban announce start of ‘spring offensive’
The Afghan Taliban launched their "spring offensive" Friday, heralding fresh fighting in the drawn-out conflict as embattled security forces struggle to recover from a devastating attack on a military base one week ago.
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Banking and FinanceFirst Bank Merger in 20 Years Sets Saudi Up for More Deals
A combination of the Saudi Arabian ventures of HSBC Holdings Plc and Royal Bank of Scotland Group Plc will break an almost 20-year drought for mergers and acquisitions in the country’s banking industry that may spur more deals across the kingdom.
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Saudi-AsiaBangladesh to build hundreds of mosques with Saudi cash
Bangladesh has approved a project to build hundreds of mosques with almost $1 billion from Saudi Arabia, an official said Wednesday, worrying minorities who fear they could be used to spread fundamentalist Islam.
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Trump Travel BanRegional Consequences of Trump’s Travel Ban
Except for Qatar, the majority of Gulf countries endorsed the executive order.
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Bank Merger?Alawwal Bank to merge with Saudi British Bank?
Saudi British Bank (SABB) also announced that its Board of Directors has resolved, at its meeting held on 25 April 2017, to enter into preliminary discussions with AlAwwal Bank to study the possibility of merging the two banks.
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HezbollahHezbollah’s defiant signal to Israel, Lebanon, and the UN
On a press tour of Lebanon's sensitive southern border, the Iran-backed militia Hezbollah performs a seemingly choreographed breach of the UN resolution that helped end its last war with Israel.
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Mohammed Al-JadaanSaudi finance minister highlights reform efforts at World Bank, IMF meetings
Finance Minister Mohammed Al-Jadaan highlighted the Kingdom’s reform efforts under the National Transformation Program (NTP) and Saudi Vision 2030 at meetings of the World Bank and International Monetary Fund (IMF) recently held in Washington.
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