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Saudi-Israeli normalization, women in family businesses in Saudi Arabia, and a conversation with management consultant Jack Fowler from YCP Solidiance
- June 3,2022
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- SUSTG Team
Episode 46! The 966 talks with Jack Fowler, director at the global management consulting firm YCP Solidiance and co-author of a new white paper on Saudi Arabia’s construction industry. But first, the hosts talk about “normalization” between Saudi Arabia and Israel, Saudi women in family businesses in the Kingdom, and then wrap up the week’s […]
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President Biden Praises ‘Courageous Leadership’ in Saudi Arabia over Yemen Truce; Plans June Visit
- June 2,2022
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- SUSTG Team
President Joe Biden praised Saudi Arabia’s “courageous leadership” on brokering and then leading the way to extend a U.N.-brokered ceasefire on Thursday between Yemen’s warring parties, according to reports. The comments come as President Biden reportedly is likely to visit the Kingdom this month.
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Saudi Arabia is ‘Experiencing a Housing and Mortgage Boom’ as Vision 2030 Reform Efforts Drive Progress
- June 1,2022
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- SUSTG Team
Saudi Arabia is “experiencing a housing and mortgage boom, reflecting a government drive to boost home ownership as part of efforts to shake up the oil kingdom’s economy and its ultraconservative society,” the Financial Times reports.
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Secretary of State Blinken, Saudi FM Faisal bin Farhan Speak by Phone amid Diplomatic Uptick
- May 31,2022
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- SUSTG Team
U.S. Secretary of State Antony Blinken and Saudi Foreign Minister Prince Faisal bin Farhan Al Saud spoke by phone this week to discuss Saudi Arabia’s efforts to prolong a fragile, Saudi-brokered truce in Yemen, the U.S. Embassy in Saudi Arabia said on Tuesday.
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Spotlight on Saudi at Davos, island diplomacy, and legal reforms with Saudi-based attorney Chris Johnson
- May 27,2022
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- SUSTG Team
In Episode 45 this week, The 966 hosts welcome back Saudi-based attorney Chris Johnson to discuss Saudi Arabia’s new personal data privacy law, investment law, and other ongoing legal and regulatory reforms taking place in the Kingdom. Before that conversation, the hosts discuss Saudi Arabia’s strong presence at the World Economic Forum in Davos, an […]
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Saudi Arabia Begins Construction on Lucid Motors Plant; Three to be Built in Kingdom
- May 26,2022
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- SUSTG Team
Workers have already broken ground on the future site of a Lucid motors plant in Saudi Arabia, Khalid al-Falih said during a panel at the World Economic Forum meeting in Davos this week.
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Saudi Crown Prince, Ambassador Reema meet with U.S. Congress Members in Saudi Arabia; Biden Officials in Kingdom to Plan Potential Visit
- May 25,2022
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman and Saudi Ambassador to the United States Princess Reema bint Bandar Al-Saud met with a delegation of visiting US Congress members on Tuesday in Saudi Arabia.
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Report: Kingdom to Use Some Oil Windfall on Boosting Private Sector
- May 23,2022
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- SUSTG Team
Saudi Arabia’s minister of economy and planning Faisal Alibrahim said the Kingdom will use this year’s oil windfall to accelerate the economy’s diversification from fossil fuels, Bloomberg reports.
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MBZ takes the reins in the UAE, the PIF’s Saudi Coffee Co., and much more…
- May 20,2022
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- SUSTG Team
Episode 44 📈 The hosts talk about the UAE’s long-time de facto ruler Sheikh Mohamed bin Zayed Al Nahyan, who was elected as president of the UAE a day after the death of former leader Sheikh Khalifa. They also discuss Saudi Arabia’s Public Investment Fund’s (PIF) new venture into the nascent coffee sector in caffeine-thirsty […]
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Number of Women with Jobs in Saudi Arabia has ‘Nearly Doubled in the Last Five Years’
- May 19,2022
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- SUSTG Team
The number of women with jobs in Saudi Arabia “has nearly doubled in the last five years and now stands at over 35 per cent of the workforce,” a top official in Saudi Arabia said this week, according to comments reported by The National.
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MUST-READS
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Ancient rock art complex Hima listed as Saudi Arabia’s sixth Unesco World Heritage site
Saudi Arabia’s cultural credentials have been boosted further by the inclusion of Hima, one of the largest rock art complexes in the world, on Unesco’s World Heritage list. The site is the sixth to be enlisted in the country, joining the At-Turaif district in ad-Dir’iyah north-west of Riyadh and Hegra in Al-Ula, the sandstone landscape in the northwestern desert.
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Part 1: The Rise of Saudi Arabia [Competitive Advantages]
KSA’s debt to GDP ratio is lower than countries similar in size. It is approximately 20%compared to nearly 100% for economies like the USA and UK or 40% for China. This gives theKSA government liquidity to invest in public and private initiatives into the foreseeable future.
- Jahani & Associates - Part 2: The Rise Of Saudi Arabia [Travel, Tourism And Hospitality]
- Jahani & Associates - Part 3: The Rise Of Saudi Arabia [Trade And Finance]
- Jahani & Associates - Part 4: The Rise Of Saudi Arabia [Manufacturing And Healthcare]
- Jahani & Associates - Part 5: The Rise Of Saudi Arabia – Framework For Success In The Region
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Smart cards and robots: Saudi Arabia’s ‘digital hajj’
Thirty years ago, it took Egyptian pilgrim Ibrahim Siam several hours to track down his children when they went missing in crowds of worshippers during the hajj in Saudi Arabia. Fast forward to the modern day and things are far simpler, meaning Siam, now 64, need not worry about losing track of his family and friends thanks to new technologies.
- Reuters - Haj pilgrims face growing heat stroke risks with global warming
- Saudi Gazette - Vaccination centers open during Eid holiday, says MoH
- i24 - New Saudi rules giving women greater opportunity to experience the Hajj
- Reuters - Fewer pilgrims, less crowd risk at haj's symbolic stoning of the devil
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Generation start-up: How Saudi Arabia’s Speero is digitalising the automotive market
“I had an issue with getting my own car repaired … the service facility didn’t want to buy the auto parts themselves and I had to waste a lot of time convincing a third-party seller to deliver the parts at their doorstep,” Mr Shamlan, 31, said.
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The $20 Billion Winner of the American EV Startup Boom: Saudi Arabia
The single biggest financial beneficiary of the recent U.S. electric-vehicle startup boom is an unlikely candidate: the world’s largest exporter of oil. The kingdom of Saudi Arabia stands to record a profit of nearly $20 billion on a $2.9 billion investment in Lucid Motors Inc., a San Francisco Bay Area electric-car maker that is set to list publicly after it completes a merger with a special-purpose acquisition company Friday. The Saudi Public Investment Fund will own over 60% of the company, which is expected to have a market capitalization of about $36 billion based on the SPAC’s current share price.
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Perspective: The UAE and Saudi Arabia – The Partnership Endures Despite Oil Dispute
On most issues, at a fundamental level the UAE and Saudi Arabia have broadly compatible goals and can reinforce each other with complementary capabilities. Both are also still within a broad-based pro-United States camp. And, while they see the threats somewhat differently, both have the same major concerns: Iran and its network of regional proxies, Turkey and its budding regional alliance, and the continued threat of extremist and terrorist groups. In a region divided between status quo powers and revisionist forces, the UAE and Saudi Arabia are strongly in the status quo camp.
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IMF: 2021 Saudi Arabia Article IV Consultation-Press Release; and Staff Report
The economy is recovering well. The non-oil recovery that started in the second half of 2020 is expected to continue with non-oil growth projected at 4.3 percent this year. While central government fiscal consolidation will be a drag on growth, it is expected to be offset by higher Public Investment Fund investment and strong private demand. Real oil GDP growth is projected at -0.4 percent in 2021 as production is assumed to remain in line with the OPEC+ agreement and overall real GDP is expected to grow by 2.4 percent. Over the medium-term, growth is expected to accelerate as the economic reform agenda begins to pay dividends.
- Saudi Gazette - Saudi economy is recovering well, says IMF, lauding govt’s quick response to COVID-19
- Yahoo - IMF Staff Reaffirm the Continued Recovery of the Saudi Economy
- Reuters - IMF sees Saudi growth at 2.4% this year with non-oil sector leading rebound
- Bloomberg - IMF Urges Saudi Arabia to Boost Welfare While Tackling Wage Bill
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Apple Developer Academy expanding with new headquarters in Saudi Arabia
The Apple Developer Academy is a program that trains programming and design students to create apps for iOS, macOS, and other Apple platforms. There are classes on Swift language, interface prototyping, and more. Everything is supervised by Apple and the students have the opportunity to have their apps featured on the App Store. The first Apple Developer Academy was created in Brazil in 2013 and has since been expanded to other countries, including the United States and South Korea.
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Saudi Arabia participates in UN’s high-level political forum on sustainable development
Saudi Arabia is participating in the United Nations high-level political forum on sustainable development (HLPF), which is being held virtually this year in the wake of the global outbreak of the coronavirus pandemic. Being held under the auspices of the UN Economic and Social Council (ECOSOC), the forum also includes a three-day ministerial meeting.
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Seera group signs strategic partnership with Kaden to develop hotels across Saudi Arabia
Seera Group, the largest travel and tourism company in the region and Kaden Investment, one of the fastest growing and most successful real estate developers and property management in Saudi, announced today the signing of a master hotels development agreement, a joint venture to manage and develop hotels in various projects developed by Kaden Investment throughout Saudi Arabia. The first hotel will be launched at Riyadh Front.
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