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OPEC+ Poised to Agree to Production Increase This Week as Oil Continues Climb
- March 3,2021
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- SUSTG Team
The OPEC+ group of oil producing nations is poised to agree to a production increase this week as it looks to add more supply as prices continue to recover from 2020 lows, according to reports. “There’s a widespread view within the group that the market can absorb additional barrels,” Bloomberg reports, citing people familiar with the […]
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Saudi Economy: Latest Economic Indicators Point to Evidence of Recovery — Jadwa Investment
- March 2,2021
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- SUSTG Team
Economic indicators for the Saudi economy from the month of January continued to point to a recovery in the non-oil sector, Jadwa Investment says in its latest Chartbook detailing the fundamentals of the Kingdom’s economy.
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‘New Launching-Off Point’ for U.S.-Saudi Ties: U.S. Imposes Sanctions, Visa Bans on Saudis for Khashoggi Killing, but Crown Prince Not Sanctioned
- March 1,2021
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- SUSTG Team
The Biden administration announced sanctions and visa bans on Friday targeting Saudi Arabian citizens over the 2018 killing of journalist Jamal Khashoggi, but stopped short of imposing sanctions on Crown Prince Mohammed bin Salman himself, Reuters reports. A senior Biden administration official, speaking on condition of anonymity to Reuters, said the approach aims to create […]
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President Joe Biden, Saudi Arabia’s King Salman Speak by Phone in First Call of New U.S. Administration
- February 26,2021
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- SUSTG Team
President Joseph R. Biden, Jr. spoke today with King Salman bin Abdulaziz al-Saud of Saudi Arabia to discuss the longstanding partnership between the United States and Saudi Arabia, the first such call between the two G20 nation leaders since Biden took office in January.
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Saudi Arabia’s Tourism Ambitions Expand to Mountainous Asir Province
- February 25,2021
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) launched a new venture that will invest $3 billion in developing tourism and infrastructure in the southwestern mountainous Asir region, according to Reuters and Saudi Arabia’s official press agency.
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Despite Uncertainty, Saudi Economy to Experience Broad-Based Recovery in 2021 – Jadwa Investment
- February 24,2021
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- SUSTG Team
Saudi Arabia will experience a broad-based economic recovery in 2021 as the Kingdom moves beyond the damage caused by the Coronavirus pandemic and low oil prices, Jadwa Investment said in a recent research note. The Riyadh-based bank’s expectations for the Kingdom’s economy come despite a “considerable degree of uncertainty” surrounding the Coronavirus and vaccination roll-outs across […]
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BofA Revises Upward 2021 Brent Oil Price by $10 a Barrel – Report
- February 23,2021
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- SUSTG Team
Bank of America (BofA) Global Research has hiked its forecast for Brent crude oil prices for this year, citing tighter supplies due to the Texas freeze and OPEC+ output curbs and unmatched global monetary stimulus, Reuters reports, citing a research note from the bank.
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Saudi Arabia’s PIF Significantly Increases Investments in U.S. Markets, Wins Big on Live Nation
- February 22,2021
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) significantly increased its holdings and investments into U.S. companies in the fourth quarter (Q4) of last year, public filings made public last week show, after slashing its exposure in Q3. The PIF’s total investments in the U.S. market reached $12.8 billion in the fourth quarter last year, up from $7 billion […]
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Secretary of Defense Lloyd J. Austin III, Crown Prince Mohammed bin Salman Speak by Phone
- February 19,2021
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- SUSTG Team
On February 18, Secretary of Defense Lloyd J. Austin III spoke by phone with Crown Prince and Minister of Defense Mohammed bin Salman to “reaffirm the strategic defense partnership between the United States and the Kingdom of Saudi Arabia,” the Pentagon said in a readout of the call.
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U.S. Treasury Secretary Janet Yellen, Saudi Finance Minister Mohammed Al-Jadaan Speak by Phone to Discuss Coronavirus, Economic Recovery
- February 18,2021
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- SUSTG Team
U.S. Treasury Secretary Janet Yellen and Saudi Finance Minister Mohammed Al-Jadaan discussed the coronavirus pandemic and other issues during a call on Wednesday, the U.S. Treasury Department said. The call is the first between the two finance chiefs after Yellen’s approval as President Joe Biden’s Secretary of the U.S. Treasury.
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MUST-READS
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Death PenaltySaudi Artist’s Death Sentence Follows a String of Harsh Punishments
For years, Ashraf Fayadh, an artist and poet, has served as an unofficial ambassador for Saudi Arabia’s small contemporary art scene, organizing shows and working to introduce Saudi art to the world.
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Anti-ISIS CampaignCarter ‘Prepared’ To Change Rules of Engagement Against ISIS
Speaking on the MSNBC program "Morning Joe," Carter was asked directly if the Pentagon was willing to change the rules of engagement, a touchy subject for supporters and critics of the Obama administration's air campaign in Syria and Iraq.
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Iran Nuclear AgreementIran starts dismantling nuclear equipment, U.N. report says
Iran has disconnected almost a quarter of its uranium-enriching centrifuges in less than a month, the U.N. nuclear watchdog said on Wednesday, suggesting it is racing to implement an agreement restricting its nuclear activities.
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U.S.-SaudiUS State Department approves Saudi Arabia arms sale
The US State Department has approved the sale of $1.29 billion (£848.6m) worth of bombs to Saudi Arabia, as its military carries out air strikes in neighbouring Yemen.
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Saudi AramcoSaudi Aramco, Hyundai Heavy ink partnership agreement
MoU lays out a comprehensive, multi-faceted business cooperation framework in areas such as engineering, procurement and construction (EPC), downstream, and the development of a casting and forging facility.
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TurkeyTurkey’s plan to ignore daylight saving time has been foiled by smartphones
Today, Oct. 26, many people in Turkey with the latest Apple, Android, and Windows devices woke up with their clocks an hour slower than the government’s.
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Saudi Fiscal PolicyThe start of something: The spendthrift kingdom is turning frugal
Money is the glue that holds Saudi Arabia together. To maintain a loyal citizenry and counter radicalism, the kingdom’s rulers pamper their subjects with lavish benefits and cushy government jobs. In times of uncertainty, such as during the Arab spring, workers are handed pay rises and bonuses. The last big payout, after the coronation of King Salman in February, cost more than many governments spend in a year.
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Iran's EconomyIran’s digital start-ups signal changing times
Western business people returning to Iran in the wake of the nuclear deal may be surprised to find plenty of entrepreneurial drive from a new generation of online start-ups, which have appeared despite years of international sanctions.
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ISISWomen in the ‘Islamic State’: ‘Till martyrdom do us part’
In Islamic State propaganda, life for women in the self-declared caliphate is filled with love, children and the joys of domestic life, such as an Oreo dessert. But the reality is often far more harsh for women who have moved there from the Arab world, Europe or the United States, according to specialists who monitor Islamic State social media postings.
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IT SpendingGartner says governments in Middle East and North Africa to spend $11.4B on IT in 2015
Governments in the Middle East and North Africa will spend US $11.4 billion on IT products and services in 2015, according to Gartner, Inc. This forecast includes spending on internal services, software, IT services, data center, devices and telecom services. Government comprises state and local governments and national government.
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