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Saudi Aramco Makes $5 million Investment in Blockchain-Based Oil Trading Company VAKT
- January 28,2020
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- SUSTG Team
Saudi Aramco Energy Ventures (SAEV) has invested $5 million into blockchain-based oil trading company VAKT, the company said in a press release.
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Oil Demand Growth Forecasted to Trend Higher in 2020
- January 21,2020
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- SUSTG Team
Oil demand growth is set to trend higher this year compared with 2019, a recent report from Jadwa Investment finds, citing OPEC forecasts and other global economic factors.
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The Economic Impact of Saudi Arabia Hosting the G20 Summit
- January 16,2020
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- SUSTG Team
A recent report from Jadwa Investment looks at the economic impact of Saudi Arabia hosting the G20 Summit, noting that while the Riyadh has hosted major summits before, “the G20 summit differs due to the sheer number of different events related to it” with more than 120 workshops, ministerial meetings and specialized seminars scheduled throughout […]
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Saudi Aramco Energy Ventures Prepares New $500m Fund, Opens Office in China
- January 13,2020
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- SUSTG Team
Saudi Aramco Energy Ventures (SAEV), a unit of the kingdom’s energy company, is preparing to start a new $500 million fund this year after completing $500m in investments, Bloomberg reports.
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Saudi Non-Oil GDP Rises as Vision 2030 Reforms Kick In
- January 2,2020
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- SUSTG Team
Economic indicators from the month of November show a continued positive trend for Saudi Arabia, with non-oil GDP surging and credit to the private sector rising to the highest rise in 3 years, Jadwa Investment said.
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Unemployment declines in Saudi Arabia, further gains seen in 2020 – Jadwa Investment
- December 18,2019
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- SUSTG Team
Unemployment in Saudi Arabia declined in the 3q 2019 and is likely to continue to improve as a pick-up in the non-oil private sector growth should translate to more jobs, according to a recent report from Jadwa Investment.
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A Look at Saudi Arabia’s 2020 Budget
- December 12,2019
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- SUSTG Team
This week, Saudi Arabia unveiled its 2020 budget, which signals an end to the expansionary trend of recent years, assumes lower oil prices than in 2019, and continues to invest in the economic diversification as outlined in the Kingdom’s Vision 2030 economic and social reform plans.
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Saudi Arabia to Grant Citizenship to ‘Scientists, Intellectuals and Innovators’ From Around the World
- December 5,2019
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- SUSTG Team
In a bid to attract top talent and spark innovation in the Kingdom, Saudi Arabia has announced that it would grant full citizenship to “scientists, intellectuals, and innovators” from key sectors and focuses, according to reports.
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Saudi Economy: Consistent Growth in Non-Oil Activity, Modest Overall Growth Forecasted for 2020 — Jadwa Investment
- November 27,2019
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- SUSTG Team
Jadwa Investment has revised downward its forecast for economic growth in Saudi Arabia this year from 1.6% to 0.2% based on recent data, the Riyadh-based firm said in a recently-released report.
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Crown Prince Mohammed bin Salman Begins State Visit to UAE Wednesday
- November 25,2019
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed Bin Salman will start a state visit to the UAE on Wednesday, according to Al Arabiya news. During the official visit, the Saudi Crown Prince will meet Sheikh Mohammad Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. The two leaders […]
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Saudi Arabia aiming for $100bn aviation investment; launch new airline: Minister Saleh Al-Jasser
He went on to say that the Kingdom aims to host 300 million passengers, and five million tons of freight reaching 250 destinations by 2030. Reflecting on the impact of the COVID-19 outbreak, Al-Jasser described the aviation industry as being at a "crossroads", with short term challenges including energy prices, sustainably, growth, and competitiveness.
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Saudi Arabia plans $32bn investment in mining and minerals sector
Saudi Arabian Ministry of Industry and Mineral Resources has announced plans to seek $32bn in investments in the mining and minerals sector As part of the plan, the country intends to support the development of nine mining projects for midstream minerals and metals that aim to support the exportation of mineral products. According to Saudi Arabia Industry and Mineral Resources Minister Bandar bin al-Khorayef, the government, as part of this investment plan, is currently implementing a steel plate factory with an investment of more than $4bn, along with a $2bn factory for electric car battery input.
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Saudi energy minister blames lack of investment for surge in fuel prices
Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman said on Monday the gap between crude prices and prices for jet fuel, diesel and gasoline was around 60% in some cases due to lack of investment in refining capacity. The prince, speaking at an aviation summit in Riyadh, said the world needed to look at energy security, sustainability and affordability as a whole.
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Saudi Arabia eyes $32bln investment in mining sector
Saudi Arabia has set an ambitious goal to attract investments worth $32 billion into its mining and minerals sector through nine new projects
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Saudi Arabia announces $6 billion investments in steel complex, EV metals plant
The nine projects include a $4 billion steel plate mill complex for the shipbuilding, oil and gas, construction and defence sectors and a "green" flat steel complex that will supply the automotive, food packaging, machinery and equipment, and other industrial sectors. Both projects are already underway, as is a $2 billion EV battery metals plant.
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Saudi Arabia announces $6 billion investments in steel complex, EV metals plant
The nine projects include a $4 billion steel plate mill complex for the shipbuilding, oil and gas, construction and defence sectors and a "green" flat steel complex that will supply the automotive, food packaging, machinery and equipment, and other industrial sectors. Both projects are already underway, as is a $2 billion EV battery metals plant.
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Fitch Revises Outlook on Public Investment Fund to Positive; Affirms at ‘A’
Fitch Ratings has revised the Outlook on Public Investment Fund's (PIF) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) to Positive from Stable and affirmed the IDRs at 'A'. The Positive Outlooks reflect that on the sovereign. A full list of rating actions is below.
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KSA’s investment law to ‘boost international business over 50%’
Before the new investment law was announced, official data from the World Bank projected the country’s GDP to reach $820 billion by the end of 2022, in comparison to $700 billion in 2020. However, this recent development, which will see foreign investors enjoy neutral treatment without any discrimination, could see KSA’s business activity spike significantly to shatter the World Bank’s projections.
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Ministry of Investment of Saudi Arabia and Janssen kickstart a national campaign on the value of innovation in healthcare
The Ministry of Investment (MISA) and Janssen, the pharmaceutical companies of Johnson & Johnson, have launched Oloumak, a national multi-stakeholder campaign developed to shed light on the value of research, development, and innovation in healthcare and biotechnology in the Kingdom. In addition, the campaign aims to highlight the ways in which innovation in these vital industries fuels growth and economic transformation, and enhances patient care and quality of life.
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Top Saudi aviation event to discuss $100bn investment opportunities
The three-day event will also see experts discuss investment opportunities in the civil aviation sector and shed light on the possibility of expansion of the kingdom's aviation sector to realize the strategic Saudi Vision 2030 in helping it become a hub for global aviation.
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