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Recent stories from sustg
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Oil Approaches Prices Not Seen Since Start of Pandemic as Optimism on Vaccines, U.S. Stimulus Drives Prices
- December 18,2020
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- SUSTG Team
Oil reached its highest close in almost 10 months as U.S. lawmakers worked toward finalizing a stimulus deal that may boost near-term demand ahead of a broad roll-out of the Covid-19 vaccine. Futures in New York were near $48.50, headed for a seventh weekly gain, Bloomberg reports.
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Saudi Arabia’s Economy Still Shrank in 3Q Despite Rebound Trend
- December 17,2020
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- SUSTG Team
Saudi Arabia’s economy shrank more slowly in the third quarter of this year as the government relaxed some measures put in place to curb the spread of the Coronavirus but the oil sector continued to weigh on the Kingdom’s overall economic outlook, according to reports.
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Saudi Arabia Registers Pfizer COVID-19 Vaccine for Import, Distribution in Kingdom
- December 10,2020
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- SUSTG Team
Health authorities in Saudi Arabia have registered the Pfizer-BioNTech COVID-19 vaccine for import and use in the country, state news agency SPA said on Thursday. Saudi Arabia’s Food and Drug Agency registered the vaccine. Procedures necessary for its import and use will begin, the statement said.
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Road to the G20: G20 Leader’s Summit Publication Released Ahead of Virtual 2020 Summit
- November 20,2020
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- SUSTG Team
Organizers of the G20 in Riyadh released the summit’s Annual Publication ahead of the G20 leadership summit, beginning tomorrow and taking place virtually due to the Coronavirus pandemic. Saudi Arabia as host has prioritized empowering people, safeguarding the planet and shaping new frontiers as themes for this year’s event, the first G20 to be chaired by a nation […]
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Rising Coronavirus Cases, Lockdowns Globally Will Hurt Oil Demand More than Previously Thought in 2021, OPEC Says
- November 11,2020
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- SUSTG Team
A global surge in Coronavirus cases and resulting lockdowns in late 2020 will cause oil demand to rebound more slowly in 2021 than previously thought, OPEC said on Wednesday. The surge in Coronavirus cases will hamper efforts by OPEC and its allies to support the market, Reuters reports.
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Road to the G20: B20, T20 Meetings Conclude Ahead of Main G20 Event
- November 2,2020
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- SUSTG Team
SUSTG is covering the events and meetings taking place in the run up to the G20 in November as part of our “Road to the G20” series of posts and featured items. Saudi Arabia just wrapped up the hosting of the B20 business-focused group, as well as the T20 meetings last week. The Business 20 […]
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Road to the G20: Two-Day Virtual B20 Begins Today
- October 26,2020
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- SUSTG Team
SUSTG is covering the events and meetings taking place in the run up to the G20 in November as part of our “Road to the G20” series of posts and featured items. This week, Saudi Arabia will host the B20 business-focused group, as well as the T20 meetings later this week.
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Strict Countermeasures Continue to Pay Off as Saudi Arabia’s Covid Deaths Hit New Lows
- October 23,2020
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- SUSTG Team
Strict rules and regulations in place and an elevated social awareness of the danger of the coronavirus continues to pay dividends in stopping the spread of the virus in Saudi Arabia, data confirms. Saudi Arabia on Friday recorded just 383 new coronavirus cases and 14 deaths, representing some of the lowest figures seen in the Kingdom since […]
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IMF Sees Contraction in 2021 for Middle East Economies, With Oil Prices in $40-$50 Range
- October 20,2020
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- SUSTG Team
The International Monetary Fund (IMF) downgraded its outlook for Middle East and Central Asian economic recovery, predicting a 4.1% contraction for the region as a whole, according to latest data released by the international organization.
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Saudi Aramco in Talks with BlackRock, Others for $10 Billion Pipeline Deal
- October 14,2020
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- SUSTG Team
Saudi Aramco is in talks with U.S.-based global investment management corporation BlackRock and other investors on a planned deal worth over $10 billion to sell a stake in its pipeline business, sources told Reuters, although the deal is still in early stages.
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MUST-READS
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U.S.-TurkeyTurkey responds to Trump tariffs with huge duties on cars and other goods
Turkey on Wednesday intensified its clash with the United States, announcing heavy new tariffs on some American products including cars, alcohol and tobacco.
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TurkeyTurkey to boycott US electronic goods over sanctions
Turkey's President Recep Tayyip Erdogan has said his country will boycott US electronic products, after Washington imposed punitive sanctions on Ankara.
- Business Insider - Perspective: The reason Turkey's economic collapse is so scary is that Iran, Russia, and Syria are waiting in the wings
- Independent - Perspective: The Turkey-Erdogan crisis is the first geopolitical disaster in a while that isn't actually Trump's fault
- Bloomberg - Turkey Crisis Tests Putin's Power to Tilt Global Game With U.S.
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TurkeyTurkey accuses US of ‘stab in back’ as currency woes persist
Moves to ease Turkey's economic woes have failed to stop market turmoil as the country's row with the US deepens.
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TurkeyWorld markets unnerved by Turkey’s financial turmoil
World stock markets fell Friday, particularly in Europe, as investors worried about the financial stability of Turkey, where the currency has nosedived.
- Quartz - The relentless decline of the Turkish lira, as told through exasperated Financial Times headlines
- CNBC - If Turkey implodes, here's who else gets hurt
- Bloomberg - Opinion: U.S.-Turkey Relations Will Never Be the Same
- WSJ (Paywall) - Trump Vows to Double Metals Tariffs on Turkey as Dispute Escalates Over Detained American
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TurkeyIs Turkey heading for an economic crisis?
Recent developments in the country's financial markets have certainly been alarming.
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TurkeyTurkey’s Warning to Italian Euroskeptics
Turkey’s currency has lost almost a third of its value against the dollar in the past six months and dropped to a record low this week. The nation’s 10-year borrowing cost touched 20 percent on Tuesday as traders judged insufficient the central bank’s efforts to stem the lira’s slide by modifying reserve requirements.
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TurkeyTurkey’s corporates need “the mother and father of all evil”
Turkey's lira is one of the worst-performing currencies this year. In the last 12 months, it has weakened some 40 per cent against the dollar and now hovers near all-time lows. A slide of this magnitude is especially worrisome when it comes to repaying debt that's denominated in non-domestic, “hard” currencies like the dollar or the euro.
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U.S.-TurkeyTurkey vows response to US sanctions imposed over jailed pastor
Ankara has vowed to retaliate against extraordinary US sanctions targeting Turkey’s interior and justice ministers over the continued detention of an American pastor, a move that has sent the lira tumbling to historic lows and threatens the longstanding alliance between two Nato allies.
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U.S.-TurkeyFriction with US may affect Turkey’s trajectory in NATO
Brunson has been suddenly granted a transfer to house arrest in a surprise reversal, but the damage had already been done. According to Aviation Week's Pentagon editor, Lee Hudson, Brunson's treatment has caused the United States to re-evaluate all military sales to Turkey, not just Lockheed Martin's F-35s.
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U.S.-TurkeyF-35 Transfers to Turkey Held Back Under U.S. Defense Measure
Transfers to Turkey of Lockheed Martin Corp.’s F-35 would be barred temporarily under a compromise defense policy measure agreed to on Monday, according to House and Senate aides.
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