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Crucial Test for Saudi Arabia, Russia on Oil Output at OPEC Meeting in Vienna
- November 29,2017
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- SUSTG Team
OPEC and Russia are facing a “crucial test” on Thursday at a meeting in Vienna as Saudi Arabia and Russia seek to come to an agreement on oil output. Oil traders are expecting OPEC to announce a nine-month extension to supply caps that are currently due to finish at the end of March 2018, but such […]
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With Regional Turmoil and Domestic Changes, Resolution of Qatar Crisis Slips in Priority for Saudi Arabia
- November 20,2017
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- SUSTG Team
The emergence of new foreign policy and domestic challenges for Saudi Arabia in recent weeks have taken precedent over resolving the Arab-led embargo of Qatar, according to Saudi Arabia’s leaders, as the United States reportedly has stepped in to support the Kingdom now elsewhere in the region. Exactly one month ago, Secretary of State Rex […]
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No Big Outflow of Money from Saudi Arabia Yet as U.S. Treasury Monitors Situation – Reports
- November 17,2017
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- SUSTG Team
There has been no big outflow of money from Saudi Arabia as a result of the sweeping anti-corruption crackdown that was announced two weeks ago, according to central bank governor Ahmed Al-Kholifey. In comments made to CNN and reported in Reuters, Al-Kholifey said Saudi Arabia is seeing “some increase, but it’s not that much,” and […]
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In WSJ Op-Ed, Al-Qassabi Says Kingdom Will Not Avoid Short-Term Difficult Decisions to Eradicate Corruption, Actualize Vision 2030
- November 14,2017
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- SUSTG Team
In a op-ed published in the Wall Street Journal, Saudi Arabia’s Minister of Commerce and Investment Dr. Majed Al-Qassabi addressed critics of the Kingdom’s anti-corruption efforts and says the actions taken last week are evidence that Saudi Arabia is facing a “watershed moment” to eradicate the scourge of corrupt practices. “Saudi Arabia is a rich […]
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UK Government Agrees to $2b Loan Guarantee For Saudi Aramco
- November 9,2017
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- SUSTG Team
The U.K. government agreed to a $2 billion loan guarantee for Saudi Aramco as competition to host the likely largest in history IPO heats up, according to Bloomberg. “The unusually large export credit guarantee, designed to finance the purchase of British goods, will be seen by many as an attempt to help woo the IPO to the […]
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Trump Tweets U.S. Interest for Aramco IPO, but can the NYSE Compete?
- November 8,2017
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- SUSTG Team
President Donald Trump used his Twitter account to encourage Saudi Arabia to list shares of Saudi Aramco on the New York Stock Exchange (NYSE) as markets around the world compete for the sought-after listing. “Would very much appreciate Saudi Arabia doing their IPO of Aramco with the New York Stock Exchange. Important to the United […]
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Despite Progress, WEF Ranks Saudi Poorly on Gender Gap Index
- November 2,2017
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- SUSTG Team
Saudi Arabia was among the lowest-ranked countries on in the World Economic Forum’s Global Gender Gap index, despite recently issuing new rules on women driving and other progress in the Kingdom. Saudi Arabia placed 138th out of 144 countries. The Kingdom’s Vision 2030 economic and social reform plans call for greater participation and empowerment of women in Saudi […]
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Saudi Arabia Allows Foreign Investors into Local IPOs, Hopes to List Aramco on Tadawul
- October 26,2017
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- SUSTG Team
Foreign investors are now able to participate in initial public offerings (IPO) on companies listed on the Nomu (parallel) market in Saudi Arabia, according to reports based on comments from Saudi Arabia’s Capital Market Authority (CMA) chairman Mohammed El Kuwaiz. El Kuwaiz said Thursday that foreign investors can take part in company flotations when asked about the […]
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New Archeological Discoveries in Tabuk, Saudi Arabia Date Back to Stone Age
- October 13,2017
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- SUSTG Team
New rock and animal drawings and other archeological discoveries were unearthed in the Tabuk region of Saudi Arabia by experts from France and the Kingdom, according to reports. Operating under the supervision of the Saudi Commission for Tourism and National Heritage (SCTH), teams discovered a large number of tools, engravings and architectural units in three […]
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King Salman Consolidates Development Funds and Promotes New Transportation Minister
- October 5,2017
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- SUSTG Team
Saudi Arabia’s King Salman has created a new organizational body to centralize and consolidate control and management of its economic development funds, called the National Development Fund (NDF), under Crown Prince Mohammed bin Salman. The NDF will “link the Saudi Fund for Development, the Saudi Industrial Development Fund, the Agricultural Development Fund, the Social Development Bank, the Human […]
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MUST-READS
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WhatsApp privacy changes could turn off Saudi users: Cybersecurity experts
A controversial new WhatsApp privacy policy could see many Saudi users switch off to the Kingdom’s favorite instant messaging app, cybersecurity experts claim. From Feb. 8, users of the popular mobile social media platform will no longer be able to access the service unless they have accepted the update and will be forced to delete their accounts.
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Women allowed to change names without guardian’s consent
The Interior Ministry’s Civil Affairs Agency has said a Saudi man or woman can change their data including names of the family, children and social status by visiting one of its branches, Okaz newspaper said.
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Life in Taliban territory in Afghanistan: How the group’s rule has changed — and how it hasn’t
The Taliban is stronger now than it has been since it was forced from power in 2001. Over the years, it has captured territory across the country and today exercises control or influence over at least half of Afghanistan. How the Taliban governs — and how its tactics have changed over time — provides a window into how the group might rule if it reaches a political settlement with the Afghan government.
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Commentary: How Saudi Aramco IPO proved a game changer in a tumultuous year for oil
But from the summer onwards, as Aramco’s low-cost advantages and deep financial resources became apparent, and when some stability was restored to global oil markets under OPEC+ discipline, the trend was reversed.
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Aramco IPO Opens Doors for More Listings on Tadawul Exchange
One year on from oil giant Saudi Aramco’s record-busting initial public offering in Riyadh, the exchange has continued to enjoy a steady stream of listings. And deals are already lining up for 2021. For years, the twists and turns leading up to Aramco’s listing dominated Saudi Arabia’s IPO market. The decision to float on Riyadh’s Tadawul exchange and to largely forgo international investors sparked concerns that the $29 billion deal would soak up all the available local liquidity for years. That fear has turned out to be unfounded.
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Qatar Inks Deal for Minority Stake in Turkish Stock Exchange
The agreement for a minority stake in the company that runs the main Turkish stock exchange, for an undisclosed amount, was unveiled at a ceremony at the presidential palace in Turkey’s capital Ankara. It was overseen by Turkish President Recep Tayyip Erdogan and Qatari Emir Sheikh Tamim bin Hamad Al Thani.
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Paul Casey flips on playing in Saudi Arabia: ‘I believe sport has the power to affect change.’
“This is not a decision I’ve taken lightly. I wasn’t comfortable going in the past, but I have always been open-minded and willing to learn. I believe sport has the power to affect change. I’ve listened to the Saudi’s commitment to this and their vision for the future,” Casey said in a statement released to Golfweek a few other select members of the media. “They have successfully hosted two professional ladies tournaments which shows that Golf Saudi have big plans not only for professional golf, but more so for grassroots and the next generation.”
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Film Studies Thrive in Saudi Arabia, Promising Jobs and Cultural Change
Most of those working in the film industry are young people under the age of 30, of whom 34 percent are women, according to a report recently issued by the British Council on filmmaking skills in Saudi Arabia. The report is based on survey responses from 422 people, including filmmakers, cast and crew members, students, training and education providers, and others.
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Saudi Arabia: 8 scenarios where expat workers can change jobs
The Saudi Ministry of Human Resources and Social Development has set eight conditions for the eligibility of expatriate workers to transfer job without their current employer’s consent as per the new labour reforms announced by the ministry in November.
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How Climate Change, Globalization Will Impact the Global Economy
n the Covid crisis, governments have struggled to find the right national policies—and also to coordinate an effective global response. They’ll have to do better when it comes to confronting the biggest challenges of the age: rising temperatures and a fracturing world economy. Taken together, rapid action against rising temperatures and a renewed commitment to globalization would put the world economy on track for 2050 output of $185 trillion. Delaying moves to cut carbon emissions, and allowing cross-border ties to fray, could cap it at $149 trillion—the equivalent of kissing goodbye to the entire GDP of the U.S. and China last year.
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