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Archaeologists in Saudi Arabia Excavate for Remnants of Ancient Kingdoms – Report
- November 2,2021
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- SUSTG Team
A team of French and Saudi archaeologists has begun work on excavating near Al-Ula in Saudi Arabia in hopes of discovering the remnants of the ancient and long-forgotten kingdoms of Dadan and Lihyan, according to a Reuters report.
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‘We are Ready to Roll’: Will Saudi Arabia’s Olayan Group Join the IPO Party?
- October 28,2021
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- SUSTG Team
Saudi Arabia’s Olayan family, which runs one of Saudi Arabia’s biggest conglomerates and is one of the richest in the Kingdom, may “revive plans to take some of its companies public,” according to a report today in Bloomberg.
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Saudi Arabia Joins Global Community with Pledge to Achieve Net Zero Emissions by 2060
- October 25,2021
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman announced on Saturday at the Saudi Green Initiative (SGI) event that the world’s top oil exporter aims to reach “net zero” emissions of greenhouse gases, mostly produced by burning fossil fuels, by 2060, according to reports.
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Saudi Arabia Looks to Turn its Smaller Stock Market, Nomu, Into Platforms for Startups to Raise Funds
- October 21,2021
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- SUSTG Team
Saudi Arabia’s stock exchange, the Tadawul, is in talks to recast its small-cap market, called Nomu, as a hub for the Middle East’s burgeoning startup industry,” people familiar with the matter told Bloomberg.
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Crown Prince Announces Launch of New National Investment Strategy to Attract FDI
- October 12,2021
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- SUSTG Team
Saudi Crown Prince Mohammed bin Salman gave details of a new investment strategy, called the National Investment Strategy, on Monday that aims to raise net foreign direct investment to 388 billon riyals ($103.45 billion) annually, the state news agency (SPA) reported.
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Saudi Arabia Adjusts Fiscal Outlook for 2022, Jadwa Investment Sees ‘Conservative’ Approach by Saudi Ministry of Finance
- October 4,2021
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- SUSTG Team
Saudi authorities released a preliminary budget statement for the 2022 fiscal year on 30th September 2021, and some fiscal and economic indicators were revised for the medium term. According to a report and analysis by Jadwa Investment, the main adjustment to Saudi Arabia’s fiscal outlook “relates to government revenue, with the upward revision to revenue from 2022 […]
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Mashable Review: ‘The Lucid Air is the Future of Cars’
- October 1,2021
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- SUSTG Team
Lucid Group, Inc., the electric car maker backed by Saudi Arabia’s Public Investment Fund (PIF), recently gave a sneak peak of its forthcoming Lucid Air Dream Edition to a small group of media representatives at its main factory in Casa Grande, Arizona. One of those media people, Chris Taylor from Mashable, gave the car a […]
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Diriyah Contemporary Art Biennale, First of its Kind in Saudi Arabia, Announces Artists
- September 24,2021
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- SUSTG Team
The upcoming Diriyah Contemporary Art Biennale – the first art event of its kind to be held in Saudi Arabia – announced participating artists for the exhibition called Feeling the Stones, according to a report in The Art Newspaper. The event is scheduled to take place starting December 11 and running for three months, concluding March 11, 2022.
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Saudi Arabia Celebrates 91st National Day in Kingdom with Patriotic Airshows, Events and Fireworks
- September 23,2021
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- SUSTG Team
Saudi Arabia is celebrating its 91st Saudi National Day today, marking the formation of the modern-day Kingdom with the unification of the Nejd and Hejaz by King Abdulaziz Al-Saud in 1932. The Kingdom’s version of the 4th of July will be celebrated this year under the slogan “A Home for Us.”
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Oil Drives Exports Rebound in July 2021 after Pandemic Year
- September 22,2021
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- SUSTG Team
Saudi Arabia’s exports continued to show signs of a rebound, with total exports rising 79.6% in July 2021 versus the same month last year when the global pandemic choked international trade and oil prices remained lower.
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MUST-READS
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VAT in Saudi ArabiaWhat’s in, what’s out? Saudi Arabia releases details on what items will be subject to VAT
Saudi commercial and residential real estate sector will be subject to value-added tax (VAT), with some exceptions that will be announced in the implementation regulations, a top Saudi official revealed at a workshop according to local media.
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PrivatizationSaudi Arabia’s privatisation plans
Saudi Arabia has said it aims to raise around $200 billion in the next several years through privatisation programmes in 16 sectors ranging from oil to healthcare, education, airports and grain milling.
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PrivatizationSaudi Arabia to Privatize Four Sectors This Year
A Saudi official said the Kingdom was planning to privatize four sectors this year, including the Saline Water Conversion Corporation, a power generation company under Saudi Electricity Co., grain silos and sports clubs.
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Trump's First Foreign TripPerspective: Trump’s First Foreign Trip: Saudi Arabia, Israel, and the Vatican
“Our task is not to dictate to others how to live, but to build a coalition of friends and partners who share the goal of fighting terrorism and bringing safety, opportunity, and stability to the war-ravaged Middle East,” Trump said in announcing the trip on Thursday.
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Trump's First Foreign TripTrump’s First Foreign Trip: To Saudi Arabia, Israel, and the Vatican
Trump’s team appeared to pick Saudi Arabia as a first stop in a bid to counter widespread claims the president is Islamophobic, after he spent the campaign promising a Muslim ban and then twice tried to implement a version of the ban, though courts blocked both efforts. “We thought this was an important place to start,” the official said.
- Newsweek - Donald Trump to Visit Israel, the Vatican and Saudi Arabia on First Foreign Trip
- MSN - Trump to Visit Israel, Saudi Arabia and Vatican in First Foreign Trip
- LA Times - First overseas foray for Trump will take him to sensitive turf: Saudi Arabia, Israel and the Vatican
- ABC News - Why Trump chose Saudi Arabia for first foreign trip
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Stock ListingsHSBC predicts 100 Saudi Arabian listings in privatisation drive
Saudi Arabia's privatisation drive is likely to result in around 100 new stock market listings in sectors including mining, healthcare and retail, a top HSBC executive said on Monday.
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HousingSaudi Arabia sets up first venture with private firm to build homes
The ministry will hold 13.63 percent in the new venture with Al-Tahaluf Real Estate Company, which is jointly owned by Saudi Arabia's Hamad bin Mohammad bin Saedan Real Estate Investment Group and U.S.-based Hovnanian Enterprises Inc.
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GCC VATSaudi Arabia gives final approval to VAT
The GCC countries have already agreed to implement selective taxes on tobacco, and soft and energy drinks this year.
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EducationSaudi Arabia, cutting its budget, turns to private schools
With oil prices languishing around $50 a barrel for the second year, in Saudi Arabia economic diversification has transformed from a phrase in vogue to a necessity. The kingdom, burning through foreign reserves, faces another year of double-digit fiscal deficits and plans to wean itself off oil revenues by shifting nationals from the public payroll and into the private sector.
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Government PaymentsSaudi Arabia sets aside $26.7 billion to settle delayed private sector payments: document
Saudi Arabia’s government has set aside 100 billion riyals ($26.7 billion) to pay debts that it owes to private sector companies after payment delays that have lasted months, an official document seen by Reuters shows.
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