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Saudi Arabia Sees a Boom in the Kingdom’s Freelancer Workforce
- August 23,2021
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- SUSTG Team
The number of freelance workers in Saudi Arabia is growing quickly as the Kingdom’s economy continues to recover from the pandemic, according to fresh data from the Ministry of Human Resources and Social Development.
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Kingdom’s Sights Remain on Renewables as Energy Ministry Allocates Land Plots for Solar
- August 20,2021
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- SUSTG Team
Saudi Arabia’s Ministry of Energy is building two renewable energy plants on land plots with a total area of 12 million square meters (4.6 square miles) to generate 600mw of energy, according to Zawya via the Saudi Press Agency. The two announced plans fit into the Kingdom’s ongoing solar and renewable power ambitions. Saudi Arabia […]
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Cementing End of Rift, Qatar Appoints Ambassador to Saudi Arabia
- August 12,2021
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- SUSTG Team
Qatar’s Emir Sheikh Tamim bin Hamad al-Thani on Wednesday named an ambassador to Saudi Arabia, just weeks after the Kingdom named Prince Mansour bin Khalid bin Farhan to serve as the Saudi ambassador to Qatar.
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Fintech Saudi Releases National Fintech Adoption Survey Results in 5 Areas
- August 10,2021
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- SUSTG Team
Fintech Saudi, an initiative launched by the Saudi Central Bank (SAMA) in partnership with the Capital Market Authority (CMA), has announced the results of the National Fintech Adoption Survey, a first of its kind measurement in Saudi Arabia of the people’s interest in adopting fintech solutions.
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Saudi Aramco Posts Nearly 300% Jump in 2Q Profit on Soaring Energy Demand Recovery
- August 9,2021
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- SUSTG Team
Saudi Aramco generated a net income of $25.5 billion in the second quarter of 2021, beating expectations and boosting the company’s earnings to nearly quadruple its earnings from the same quarter last year. The income was a 288% increase in net income for the second quarter, and the company maintained its dividend of $18.8 billion.
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SABIC’s Profit Surges in 2Q Amid Booming Demand for Petrochemical Products
- August 5,2021
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- SUSTG Team
Saudi-based petrochemicals giant SABIC hit a $2 billion quarterly profit in the second quarter of this year as a healthy global demand for its products drove sales, according to reports. SABIC also said it expects this solid performance to continue in the second half of 2021, “backed by healthy demand and rising oil prices,” according to Reuters.
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Jadwa Chartbook: Oil Prices Continue Climb for Third Straight Month, Benefitting Saudi Economy
- August 2,2021
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- SUSTG Team
A third straight monthly gain for oil is benefitting the Saudi economy, as SAMA FX reserves rose in June by $8.8 billion month-on-month and the non-oil PMI was unchanged at 56.4, indicating continued growth, a recently-released monthly Chartbook by Jadwa Investment for the month of June notes.
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Saudi PPP to Invest $15 Billion in New Technology Fund – Report
- July 29,2021
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- SUSTG Team
A Saudi public-private partnership will launch a $15 billion technology fund “to advance the digital infrastructure in the Kingdom,” a report in Arab News said, based on an announcement at a conference in Riyadh on Wednesday.
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Ivory Coast beat Saudi Arabia 2-1 in Kingdom’s Olympic Soccer Opener
- July 22,2021
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- SUSTG Team
The Ivory Coast beat Saudi Arabia 2-1 in the Kingdom’s opening Olympic soccer match on Thursday in Yokohama, Japan. Ivory Coast’s Franck Kessie scored the go-ahead goal in the 66th minute in a disappointing start for the Kingdom’s Tokyo dreams. On the Saudi side, Salem Al-Dossari scored the Kingdom’s lone goal in the match.
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Saudi Startups Raise Over $250m So Far in 2021, Report Says
- July 19,2021
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- SUSTG Team
Dubai-based research platform Magnitt says Saudi Arabian startups raised more than a quarter of a billion dollars in venture capital (VC) funding during the first half of 2021, as the Kingdom looks to continue to develop entrepreneurship within its borders. Magnitt says that VC funding in MENA increased by 12% from FY’20, “marking a quarterly […]
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Iran ‘implements’ 25-year deal with China amid skepticism at home
Iran says it has started implementing a 25-year comprehensive strategic partnership with China, portraying the March 2021 accord as a “win-win.” This comes as domestic criticism that emerged as the agreement was being signed has resurfaced, with skeptics in Iran demanding more transparency. The claimed implementation of the China partnership comes as Iranian President Ebrahim Raisi is set to visit Moscow for talks on a possible 20-year deal with Russia.
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China coal output hits record in Dec and in 2021
China, the world's biggest coal miner and consumer, produced 384.67 million tonnes of the fossil fuel last month, up 7.2% year-on-year, data from the National Bureau of Statistics showed on Monday. This compared with a previous record of 370.84 million tonnes set in November.
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China hosts Gulf Arab, Iranian chief diplomats amid regional shifts
China is hosting Iran’s foreign minister, who earlier this week toured Oman and Qatar. The Iranian chief diplomat’s visit follows Beijing’s welcoming of a senior delegation from the Gulf Arab states.
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Denmark accuses China, Russia and Iran of espionage threat
"The threat from foreign intelligence activities against Denmark, Greenland and the Faroe Islands has increased in recent years," Anders Henriksen, head of counterintelligence at the Danish Security and Intelligence Service, said in a report.
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China meets Gulf oil bloc with sights set on free-trade agreement and energy security
China replaced the European Union as the bloc’s largest trading partner in 2020, when bilateral trade was valued at US$161.4 billion, according to the Chinese foreign ministry. China’s imports from the bloc dropped 18.7 per cent to US$90.6 billion in 2020 as the price of crude plunged, but its exports to the bloc rose 5 per cent to US$70.8 billion that year.
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Gulf FMs arrive in Beijing in ‘positive’ push for China-GCC FTA talks
Yin Gang, a researcher at the Institute of West-Asian and African Studies at the Chinese Academy of Social Sciences, concurred. "Far from the normal talks in a regular visit, this unprecedented and rare collective visit by GCC countries will likely bring a practical bilateral cooperation statement or major progress in the negotiation of the FTA," he told the Global Times.
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Saudi FM says he looks forward to consolidating partnership with China
Prince Faisal bin Farhan said he held an intensive meeting with his Chinese counterpart Wang Yi during which the two officials discussed strengthening the strategic relationship between their countries.
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Middle East foreign ministers head to China for meetings
Foreign ministers from Saudi Arabia and other Middle Eastern states are visiting China this week for meetings with officials from the world’s second largest economy, a leading consumer of oil and source of foreign investment. The Chinese Foreign Ministry on Monday gave no details of the agendas for the visits, but said they were expected to “deepen relations between the two sides.”
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Middle East is stuck in the crosshairs of a worsening US-China rivalry
But the region had rarely seen violence on the scale of the 2010s, when simultaneous wars in four different countries -- Syria, Yemen, Libya and Iraq -- as well as long-running violence in Israel and the occupied Palestinian territories, turned vast swathes of the Arab world into a bloodbath.
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US intel and satellite images show Saudi Arabia is now building its own ballistic missiles with help of China
"The key piece of evidence is that the facility is operating a 'burn pit' to dispose of solid-propellant leftover from the production of ballistic missiles," said Lewis, a weapons expert and professor at the Middlebury Institute of International Studies who reviewed the images.
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