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Saudi Arabia Begins Return to Normal Life as Second Phase of Reopening Begins
- June 1,2020
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- SUSTG Team
Saudi Arabia has begun the second of three phases in reopening businesses, retail, and restaurants after a Kingdom-wide shutdown to stop the spread of the Coronavirus.
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WTI, Brent set for biggest monthly gains in years
- May 29,2020
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- SUSTG Team
Despite a fall today, crude oil prices are set for their biggest monthly gain in years after historic production cuts and a rebound in demand. The U.S. crude benchmark (WTI) has jumped almost 80 per cent in May, Bloomberg reports, the biggest gain in exchange data compiled by Bloomberg going back to 1983. That comes after […]
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Saudi Arabia to End Virus Curfews by June 21, Will Start ‘New Phase’ on Thursday May 28
- May 26,2020
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- SUSTG Team
Saudi Arabia said Tuesday that it will begin to end its nationwide coronavirus curfew this week, and completely phase out the curfews by June 21, according to comments from the Kingdom’s health minister Dr. Tawfig Al-Rabiah.
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Saudi Arabia Reports 12 New Deaths from Coronavirus, 2,532 New Cases
- May 21,2020
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- SUSTG Team
Saudi Arabia reported a steady increase of 2,532 new coronavirus cases and 12 new deaths, which brings the total number of cases in the Kingdom to 65,077 and the virus-related death toll to 351, the Ministry of Health announced.
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Saudi Aramco’s Share Price Bounces Back to Pre-Oil Price Fall Levels as Crude Prices Rebound
- May 20,2020
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- SUSTG Team
Shares in Saudi Aramco bounced back to pre-oil price war levels after gaining as much as 3.09% on Tuesday, an encouraging sign that oil demand may be gaining again and a global glut of crude is beginning to clear.
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Saudi, International Team Begin 5-Year Archeological Excavations of Kingdom’s Al-Ula Sites
- May 15,2020
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- SUSTG Team
Saudi Arabia has kicked off an international five-year long archaeological mission to excavate key sites at Al-Ula in the Kingdom, the ancient heritage site of the Dadan and Lihyan kingdoms.
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‘Pockets of Demand’ Seen Returning for Oil as Suppliers Curb More to Boost Price
- May 12,2020
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- SUSTG Team
Areas of increased demand for oil are emerging as suppliers, lead by Saudi Arabia, cut additional output in hopes of boosting crude’s price, according to reports.
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Saudi Arabia’s coronavirus cases grow to 35,000
- May 8,2020
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- SUSTG Team
The number of coronavirus cases in Saudi Arabia exceeded 35,000 on Friday as the kingdom struggles to get to grips with rising numbers of new infections, Reuters reports.
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Analysis: Saudi Arabia Could ‘Emerge from the Pandemic Stronger, both Economically and Geopolitically’
- May 6,2020
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- SUSTG Team
In an opinion piece in Foreign Policy magazine, a former advisor to President Barack Obama and professor at Columbia University says it is likely that Saudi Arabia will emerge from the Coronavirus pandemic “stronger, both economically and geopolitically” and that its bold moves in oil markets created a win for the Kingdom.
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Saudi Economic Data Starting to Reflect Coronavirus-Related Shutdown Measures, Jadwa Says
- May 4,2020
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- SUSTG Team
A significant portion the latest March data on the Saudi economy has begun to reflect the impact of COVID-19 containment measures, Jadwa Investment said in its most recent chartbook.
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MUST-READS
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Israeli forces hunt down and kill Palestinian sought over deadly attack on Tel Aviv bar
Israeli security forces early Friday hunted down and killed a Palestinian man who had opened fire into a crowded bar in central Tel Aviv, killing two and wounding over 10 in an attack that caused scenes of mass panic in the heart of the bustling city. It was the fourth deadly attack in Israel by Palestinians in three weeks, and came at a time of heightened tensions around the start of the Islamic holy month of Ramadan.
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Factional chaos, missteps brought down Yemen president Hadi
Hadi took the helm of a crumbling state after Arab Spring protests in 2011 brought down Saleh, later killed in 2017 while trying to switch allegiances. Hadi was the only name on the ballot for 2012 elections meant to guide predominantly Sunni Yemen through a transition to democracy shepherded by Western and regional powers led by neighbouring Saudi Arabia.
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Investors dump emerging market funds on slowdown worries
Mutual funds that invest in emerging market (EM) equities and bonds have faced huge outflows over the past month, as the intensifying Russia-Ukraine crisis spawns fears over higher inflation and slower economic growth in these markets.
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Fitch downgrades Tunisia’s debt rating
The assessment from the leading credit agency is based on the Tunisian government’s high deficit and the political instability brought on by the president power grab last year, among other things.
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Saudi Arabia for first time marks its founding, downplaying conservative roots
That was about 18 years before what historians generally consider as the beginning of the Saudi state when bin Saud, a tribal leader, forged an alliance with Islamic preacher Mohammed ibn Abd al-Wahhab, whose purist doctrine is often referred to as Wahhabi Islam.
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Breaking Down the Cost of an EV Battery Cell
Since 2010, the average price of a lithium-ion (Li-ion) EV battery pack has fallen from $1,200 per kilowatt-hour (kWh) to just $132/kWh in 2021. Inside each EV battery pack are multiple interconnected modules made up of tens to hundreds of rechargeable Li-ion cells. Collectively, these cells make up roughly 77% of the total cost of an average battery pack, or about $101/kWh.
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Saudi Arabia for first time marks its founding, downplaying conservative roots
The anniversary marks the day in 1727 when Mohammed bin Saud, founder of the first Saudi state, took over the emirate of Diriyah - a remote town which now lies on the northwest edge of the Saudi capital Riyadh. That was about 18 years before what historians generally consider as the beginning of the Saudi state when bin Saud, a tribal leader, forged an alliance with Islamic preacher Mohammed ibn Abd al-Wahhab, whose purist doctrine is often referred to as Wahhabi Islam.
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Global shipping rates drag down profit of Saudi shipping giant Bahri
National Shipping Co., or Bahri, has reported an 88 percent drop in 2021 profit, as a fall in global shipping rates weighed on revenues. Net profit reached SR192 million ($51.3 million), down from SR1.57 billion a year earlier, according to a bourse filing. During the same period, revenues dropped by 36 percent to SR5.35 billion, which the firm attributed to a significant decline in global shipping rates as well as reduced shipping operations.
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Pushed into the shadows, Islamic State still has global reach
Once based in the Syrian city of Raqqa and Iraqi city of Mosul, from which it sought to rule like a centralised government, Islamic State now takes refuge in the hinterlands of the two fractured countries. Its fighters are scattered in autonomous cells, its leadership is clandestine and its overall size hard to quantify, although the United Nations estimates it at 10,000 fighters in the heartlands.
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UAE says it blocked drone attack, shadowy group claims responsibility
Wednesday's drone attack was claimed by little-known "True Promise Brigades", citing UAE interference in Yemen and Iraq as justification, according to U.S.-based SITE Intelligence Group, which follows militant websites.
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