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  • Biden warns Putin with sanctions as West steps up Ukraine defenses

    Following multiple rounds of U.S.-Russia talks over Ukraine that failed to reach a breakthrough, Biden, who has long warned Moscow of economic consequences, upped the ante on Tuesday by saying Putin could personally face sanctions.

  • Blinken to meet Russian counterpart as White House warns Moscow could attack Ukraine ‘at any point’

    Secretary of State Antony Blinken will meet Russian Foreign Minister Sergei Lavrov in Geneva on Friday in an effort to resolve the standoff over Ukraine, with U.S. officials warning that a Russian invasion could be imminent. The meeting will follow a week of intense diplomacy as the top U.S. diplomat heads to Ukraine and Germany for discussions on the crisis, the State Department said. Adding urgency to Blinken’s talks is Russia’s fresh deployment of troops to Belarus to conduct major military exercises that will further strengthen the number of Russian forces along Ukraine’s border.

  • Saudi Arabia kicks off the year with a $755 million sukuk issuance

    The Saudi government offered sukuk denominated in Saudi riyals worth SR2.83 billion ($755 million) in its first issuance for the year 2022, the National Debt Management Center announced on Tuesday. The issuance comes under the Kingdom’s riyal-denominated sukuk program.

  • Saudi Arabia, UAE better placed than UK, Germany for AI innovation: Report findings

    Khan pointed out that one of the stumbling blocks that may hinder AI-driven innovations was the upskilling and reskilling of experts and professionals with state-of-the-art tools, techniques, and knowledge in data science and analytics. He said: “Therefore, it is imperative to launch modern educational and training programs to keep the workforce prepared for new challenges in this field.”

  • Saudi National Bank plans inaugural ‘sustainable’ sukuk

    Saudi National Bank (1180.SE), the kingdom's largest lender that is 50.4% indirectly owned by the government, has hired banks to arrange the sale of U.S. dollar-denominated five-year inaugural sustainable sukuk, or Islamic bonds, a bank document showed on Monday. The proceeds will be eligible to fund renewable energy-generating facilities, including loans to develop such projects as well as loans related to tree-planting, an investor presentation reviewed by Reuters showed.

  • Saudi Arabia’s biggest lender hires banks for sustainable sukuk – document

    Saudi National Bank, the kingdom's biggest lender, has mandated banks to arrange investor meetings ahead of a planned issuance of inaugural sustainable Islamic bonds or sukuk, a document seen by Reuters showed. SNB has mandated HSBC as sole ESG structuring agent, and Citigroup, Emirates NBD Capital, Goldman Sachs, HSBC, Mizuho Securities and SNB Capital as joint lead managers and joint bookrunners to arrange investor meetings starting on Monday, the document said.

  • Watch Saudis perform Dahha folk dance as it snows in Tabuk

    The crowd was performing the Dahha, an ancient dance in the region. It used to be danced by warriors to celebrate victory. It has some commonalities with Al Ardah, another folk dance native to Saudi Arabia, particularly the Najd region.

  • IHS Markit includes Saudi govt Sukuk market in iBoxx global bond index

    Saudi exchange operator Tadawul said in a tweet on Wednesday that IHS Markit had included the Saudi government Sukuk market in its iBoxx global government bond index

  • UK girds to strike free trade deal with the GCC

    While such a trade accord has been on the table since the UK referendum on leaving the European Union in June 2016, the announcement of consultations is a sign of that the UK is serious about striking a deal. The GCC is one of the most important British trade partners after the EU and US, with bilateral trade last year worth more than 30B GBP (39.7B USD).

  • Saudi Arabia ends the year with local sukuk issuance of $110.5m

    The Saudi government offered denominated sukuk in Saudi riyals worth SR415 million ($110.5 million) for the December issuance, the National Debt Management Center announced on Tuesday. The issuance comes under the Kingdom’s riyal-denominated sukuk program. The first tranche had a size of SR200 million and matures in 2029 while the second tranche was valued at SR215 million and matures in 2031.