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Recent stories from sustg
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Senate Passes Joint Resolution to End U.S. Military Support for Saudi-Led Coalition in Yemen
- March 14,2019
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- SUSTG Team
The U.S. Senate passed a resolution Wednesday to end American support for the Saudi-led, U.N.-backed coalition in Yemen, issuing a challenge to President Donald Trump to use his first veto of his Presidency. The bill, entitled “A joint resolution to direct the removal of United States Armed Forces from hostilities in the Republic of Yemen that have not […]
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Large Quantities of Natural Gas Discovered in Red Sea, Al-Falih Says
- March 8,2019
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- SUSTG Team
Large quantities of gas have been discovered in the Red Sea, the official Saudi Press Agency said, citing comments made by Minister of Energy Khalid Al-Falih. Al-Falih said that Saudi Aramco will intensify exploration work over the next two years after completion of a feasibility study. Falih also said Saudi Aramco was studying possible Liquified Natural Gas (LNG) project […]
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Latest Economic Data Shows Continued Improvement in Saudi Economy, Jadwa Investment Says
- March 5,2019
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- SUSTG Team
Latest economic data from Jadwa Investment’s March 2019 economic chartbook shows more positive signs for the Saudi economy. Economic data reviewed by Jadwa for the month of January showed improvements for the economy, including a 32 percent rise in POS transactions, and a rise in non-oil PMI to its highest level since December 2017, the Riyadh-based bank said. […]
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Saudi Crown Prince Mohammed bin Salman arrives in China
- February 21,2019
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- SUSTG Team
Saudi Crown Prince Mohammed bin Salman arrived in China on Thursday, the third stop of his tour of Asian nations that started with visits to Pakistan and India. The Crown Prince is slated to meet Chinese President Xi Jin Ping during the official visit. China is Saudi Arabia’s largest trading partner, ahead of the United States. At […]
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Looking East, Crown Prince Mohammed bin Salman Arrives in Pakistan
- February 18,2019
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman arrived in Pakistan on Sunday for the start of a tour of several Asian nations as the Kingdom looks eastward to strengthen trade relationships and business opportunities. As is usually the case for the highest Saudi royal leaders on state visits, the Crown Prince traveled with a sizable entourage […]
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Once Taboo, Valentines Day is Celebrated in Saudi Arabia
- February 14,2019
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- SUSTG Team
Before 2018 in Saudi Arabia, Valentines Day was “an old tradition kept in the dark” and not openly celebrated by Saudis, instead being secretly observed by citizens in the privacy of their homes. Then, last year, Sheikh Ahmed Qasim Al-Ghamdi, former president of the Saudi “religious police” or Ha’ia, endorsed Valentine’s Day celebrations for the first time in […]
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December Economic Data Shows Slight Cooling but Non-Oil Exports Grow, Jadwa Says
- February 6,2019
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- SUSTG Team
The latest monthly economic chartbook released by Jadwa Investment found a cooling in some key economic data points, although the Saudi stock market soared by 10% in January as oil prices rose. The Riyadh-based Jadwa’s report found that POS rose by 10 percent while cash withdrawals were flat, and non-oil PMI index was marginally down […]
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Saudi Media Powerhouse SRMG Launches Independent Arabia
- January 25,2019
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- SUSTG Team
The Saudi Research and Marketing Group (SRMG) and the UK online publisher The Independent have launched a new digital news site, IndependentArabia.com. SRMG announced the appointment of Saudi journalist and political analyst Adhwan al-Ahmary as editor-in-chief of the online platform, while the new service will be staffed by a team of experienced journalists from Saudi Arabia […]
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Saudi Oil Reserves Are Even Bigger than Previously Estimated
- January 10,2019
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- SUSTG Team
An independent audit of Saudi Arabia’s oil reserves found that the Kingdom has more oil than previously estimated, according to reports and an official statement from the government of Saudi Arabia. The audit, conducted by Houston-based petroleum consultants DeGolyer & MacNaughton, had concluded that Saudi Arabia’s oil reserves total 268.5 billion barrels – over 2.2 […]
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Positive Trends Seen in Latest Saudi Economic Data; Non-Oil PMI Up
- January 2,2019
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- SUSTG Team
A recently-released report from Jadwa Investment found a positive trend in Saudi economic data for the month of November, with POS and cash withdrawals rising by 18 percent and 2 percent respectively, year-on-year, and growth in the non-oil PMI index. The monthly report from the Riyadh-based investment firm analyzes key macro and micro economic trends in […]
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MUST-READS
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'Vision 2030'Saudi Changes Meet Resistance From Traditional Clerics
As Saudi Arabia tries to overhaul its oil-dependent economy and loosen rigid social codes, the monarchy faces resistance from religious conservatives who are among the most powerful forces in Saudi life.
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Saudi Oil PolicyPerspective: Saudi Arabia ‘changes oil minister to meet Vision 2030 reform challenge’
"Al-Naimi's removal is less a reflection on [his] policies, which really have carried the kingdom through two decades of highs and lows in the oil markets, than a reflection of the tough scope of the work ahead in Saudi Arabia" Emily Hawthorne, Middle East analyst at political consultancy Strafor, told CNBC's "The Rundown".
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Climate ChangeClimate Change Might Make the Arab World ‘Uninhabitable’
Climate change will soon transform both North Africa and the Middle East into an uninhabitable zone. According to research conducted by the German Max Planck Society and the Cyprus Institute, the Arab world currently is experiencing unprecedented severe heat waves during summer.
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TurkeyWith prospective change of premier, Turkey’s Erdogan aims at stronger presidency
Turkey could face an early general election this year after the prospective removal of Prime Minister Ahmet Davutoglu, unnerving investors and testing relations with Europe as President Tayyip Erdogan accelerates his drive for a stronger presidency.
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Saudi Exchange IPOGoldman, HSBC Said Among Banks on Saudi Exchange IPO Shortlist
Goldman Sachs Group Inc. and HSBC Holdings Plc are among banks shortlisted by Saudi Arabia’s stock exchange to help manage its initial public offering, according to people familiar with the matter.
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Saudi Stock ExchangeSaudi Stock Exchange to Launch IPO
Saudi Arabia’s stock exchange is poised to appoint banks to manage its initial public offering and will make an announcement within a few days, its chief executive officer said.
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PakistanHow the lives of Osama Bin Laden’s neighbours changed forever
Al-Qaeda leader Osama Bin Laden was killed in Abbottabad, Pakistan in a dramatic and bloody raid by US Navy Seals on 2 May 2011. Five years on the BBC's M Ilyas Khan finds loose ends, unsettling and unanswered questions, and a neighbourhood changed forever.
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Saudi Vision 2030Saudi reform plans flirt with social change
Seemingly anodyne promises to invest in cultural events and entertainment facilities, to encourage sports and promote ancient heritage and Saudi national identity, are highly controversial among conservatives.
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War in YemenYemen’s Conflict Changes Course
The informal cease-fire is between the Houthi and the Saudis, but only along the border.
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Saudi-IranSaudi FM says Iran must change its ‘behaviour’
Saudi Foreign Minister Adel al-Jubeir said on Sunday that Iran must change its "behaviour" towards his country if it wants normal ties with the oil-rich Sunni kingdom.
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