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Oil Prices Fall as WSJ Reports OPEC is Considering an Output Increase on December 4
- November 21,2022
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- SUSTG Team
Saudi Arabia and other OPEC countries are discussing an oil output increase to be determined at its next meeting, the Wall Street Journal reports, “a move that could help heal a rift with the Biden administration and keep energy flowing amid new attempts to blunt Russia’s oil industry over the Ukraine war.”
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AGSIW’s Robert Mogielnicki joins the 966, MBS Goes to Asia, World’s Population Reaches 8 Billion, and more
- November 18,2022
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- SUSTG Team
Robert Mogielnicki from AGSIW and adjunct professor at Georgetown and GWU joins The 966 to talk NEOM, the PIF, the Saudi economy and so much more. The hosts talk about our neighbors – all 8 billion of them and counting – on planet Earth as the world’s population passes 8 billion. Lucien’s one big thing […]
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Saudi Arabia Signs $30 Billion Worth of Investment Agreements with South Korea
- November 17,2022
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- SUSTG Team
South Korean and Saudi Arabian leaders signed investment agreements worth at least $30 billion with South Korean companies in a major push to strengthen ties between the two nations, according to reports.
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Data Show Foreign Direct Investment Inflows into Saudi Arabia Falls 85% in Second Quarter on 2021 Aramco Deal
- November 15,2022
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- SUSTG Team
Saudi Arabia recorded second-quarter foreign direct investment (FDI) inflows down 85% year on year, an investment ministry report showed on Tuesday, with the reason for the significant drop attributed to the closing of state-owned Saudi Aramco’s IPO deal in the second quarter of 2021.
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Crown Prince Heads to G20 in Indonesia as Chinese Leader Xi Jinping Reportedly Eyes December for Saudi Visit
- November 14,2022
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- SUSTG Team
Crown Prince Mohammed bin Salman of Saudi Arabia will represent the Kingdom at the G20 in Indonesia at this year’s meetings, and will visit other Asian countries as part of the trip, state news agency SPA reported.
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Prince Waleed bin Nasser Al-Saud from Saudi-based Consultancy Mukatafa, more on the U.S.-Saudi relationship, Saudi’s mining sector, and more
- November 11,2022
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- SUSTG Team
Episode 65! Prince Waleed Bin Nasser Al Saud joins The 966 — Prince Waleed is CEO of Mukatafa, a consultancy based in Riyadh that brings together the public and private sectors in Saudi Arabia, forming an ecosystem that enables the private, public, and third-party sectors to collaborate, integrate, and grow together as the Kingdom drives […]
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PIF to List an Additional 10% of Saudi Stock Exchange; Investors Put in All Orders Within an Hour
- November 10,2022
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- SUSTG Team
Saudi Arabia’s Public Investment Fund is selling an additional 10% stake in the kingdom’s stock exchange, the Tadawul, “pushing ahead with plans to reduce its holdings in some of the country’s biggest companies and raise funds for investments,” Bloomberg reports.
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Saudi Arabia Evaluating Financing Options for NEOM, Hires New York-Based Lazard Ltd.
- November 9,2022
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- SUSTG Team
Saudi Arabia is evaluating financing options to develop NEOM, working with New York-based Lazard Ltd. to develop plans to potentially include debt sales and an initial public offering on the Saudi stock exchange for the high-tech city, people familiar with the matter told Bloomberg.
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Saudi Arabia Announces 66 New Initiatives as Part of Environmental Action Plan at COP 27
- November 8,2022
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- SUSTG Team
Saudi Arabia has announced 66 new initiatives as part of its environmental plan at the UN global climate change summit taking place in the Egyptian resort town of Sharm El-Sheikh, according to reports.
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Saudi Arabia Commits 2.5 Billion to Middle East Green Initiative, Agrees to Host HQ in Riyadh – Report
- November 7,2022
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- SUSTG Team
Crown Prince Mohammed bin Salman said on Monday that Saudi Arabia would contribute $2.5 billion to the Middle East Green Initiative over the next 10 years, and host its headquarters in the Kingdom, according to a report from Reuters.
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MUST-READS
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Saudi Arabia brings together international teams to participate in Camel Festival
Teams from around the world have arrived in Saudi Arabia to participate in the Crown Prince Camel Festival which commenced on Tuesday. Countries including the US, France, Switzerland, Oman, Bahrain, the UAE, Jordan, Qatar, Kuwait, Sudan and Egypt, along with Saudi Arabia, will participate in the fifth edition of the sport at the historic Taif Camel Field, running through September 7, according to the official Saudi Press Agency (SPA).
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Saudi football battle as Benzema leads Al Ittihad to meet Al Hilal in quarterfinals
A Saudi football confrontation is expected this weekend after Karim Benzema led Al Ittihad to secure its spot in the quarterfinals of the King Salman Club Cup games on Wednesday after defeating Iraq’s Al Shorta SC. Al Ittihad will go head-to-head against Saudi Arabia’s Al Hilal on Saturday, August 5, after defeating Al Shorta with a 2-1 win that was sealed by a winning penalty kick from Benzema at the 84th minute. It marked Benzema’s third goal over the club’s three games in the tournament.
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Saudi Arabia’s path to 2026 World Cup starts in qualifying group with Jordan and Tajikistan
Saudi Arabia’s path to the 2026 World Cup in North America will start in a first qualifying group with neighboring Jordan, Tajikistan, and either Cambodia or Pakistan. Players in the Saudi national team — which upset eventual champion Argentina 2-1 to open last year’s tournament in Qatar — will prepare for the next edition training and playing with a slew of global stars like Cristiano Ronaldo and Karim Benzema lured to the multi-billion dollar project that the Saudi league has become.
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Saudi Arabia welcomes start of work on stricken vessel in Red Sea
Saudi Arabia welcomed on Wednesday the start of the UN’s operational plan to salvage the FSO Safer oil tanker and pump out approximately 1.14 million barrels of crude oil. The Kingdom also welcomed through a Foreign Ministry statement the success of UN and international efforts over the past years which culminated in the start of the unloading process and averting an environmental disaster that threatens maritime security and the global economy in the Red Sea.
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Saudi graffiti artist steps out of the shadows
Saudi graffiti artist Maajed Ahmed has a gift — transforming blank walls into captivating bursts of color intertwined with Arabic typography that invariably have passers-by stopping to look. While graffiti artists in pop culture are often depicted as working in the shadows, Ahmed proudly presented his artistry at the second MDLBeast, the largest music festival in the Middle East that inspires Saudi youth with its eclectic blend of music, art and culture.
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Foster + Partners designs Equinox hotel for Saudi Arabia’s Amaala resort
British studio Foster + Partners has unveiled designs for the Equinox Resort Amaala hotel, which will feature a circular "floating" canopy and be located on the west coast of Saudi Arabia.
The hotel, which will be developed with luxury lifestyle brand Equinox, is the first hotel to be announced as part of the Amaala Marina Village, also designed by Foster + Partners for developer Red Sea Global. -
Saudi Arabia set to be biggest gainer from artificial intelligence in Middle East by 2030: PwC
A report from the company noted that AI could add $320 billion to the region’s economy, equivalent to 11 percent of gross domestic product. Amid the government’s massive push for digitization and future technology, Saudi Arabia will see AI’s contribution to GDP rise to 12.4 percent in 2030. In terms of average annual growth in the contribution of AI by region, Saudi Arabia is expected to slice off a 31.3 percent share in the technology’s expansion between 2018 to 2030, the PwC report noted.
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Emirates signs new soccer partnership in Saudi Arabia
Emirates has announced its contract as the main sponsor and official airline of the King Salman Club Cup in 2023, aligning with the Kingdom’s Vision 2030. The tournament deal, starting on 27 July, provides Emirates with in-stadium brand visibility as well as on-site advertising during the King Salman Cup – the UAFA region’s premier club championship.
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Emirates signs new soccer partnership in Saudi Arabia
The tournament deal, starting on 27 July, provides Emirates with in-stadium brand visibility as well as on-site advertising during the King Salman Cup – the UAFA region’s premier club championship. Jabr Al-Azeeby, vice-president of Emirates airline for Saudi Arabia remarked on the new partnership: “Emirates is one of the biggest names in sports and is heavily involved in the sport of soccer, helping fans get closer to the action and engaging in ways that go far beyond logo recognition.
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How MBS’s Saudi Wealth Fund Could Take US Yields Higher: Chart
Saudi Arabia is making riskier bets with its oil wealth. The aim is to generate a higher return to offset possible declines in crude prices. The consequences? Domestically, higher risks mean potential losses for the kingdom, according to Bloomberg Economics. Globally, the re-allocation of Saudi wealth could result in higher US interest rates.
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