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Saudi Arabia Postpones Riyadh Airport Expansion Financing after Pandemic
- January 12,2021
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- SUSTG Team
The global pandemic and its impact on travel is causing the Kingdom to delay its plans to raise financing “potentially worth billions of dollars” for the expansion of Riyadh’s airport, sources told Reuters.
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In Rare Televised Appearance, Crown Prince Mohammed bin Salman Launches ‘The Line’, a Zero-Carbon Emissions City at NEOM
- January 11,2021
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- SUSTG Team
In a rare televised appearance on Sunday, Saudi Arabia’s Crown Prince Mohammed bin Salman unveiled ambitious plans for a new carbon-free city at NEOM, in the Kingdom’s northwest along the Red Sea.
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Oil Set for Weekly Gain, Hits 11-Month High on Announced Saudi Oil Cuts
- January 8,2021
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- SUSTG Team
Oil prices hit 11-month highs and were on track for a weekly gain on Friday, boosted by Saudi Arabia’s pledge to cut output announced this week.
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Energy Minister Prince Abdulaziz bin Salman: New Saudi Cut Is ‘Commercial Choice, Not Political’
- January 7,2021
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- SUSTG Team
Saudi Arabia’s energy minister Prince Abdulaziz bin Salman called this week’s surprise oil output cut for February and March a “wonderful present” for the oil industry and will affect both domestic sales and exports, and said that the choice for a cut was commercial and not political.
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After Summit Agreement, Saudi Arabia’s Crown Prince Extends Saudi Hospitality to Visiting Qatari Emir
- January 6,2021
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- SUSTG Team
This week, Saudi Arabia and other GCC nations buried the hatchet with neighboring Qatar after a diplomatic standoff that lasted over three years. The two sides, working toward a fresh start in recent weeks, finalized the end of the feud at Tuesday’s 42nd GCC Summit in Saudi Arabia, reuniting to once again reinvigorate trade between […]
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Gulf Rift Ends after 42 Months; Qatari Emir Heads to GCC Summit as Skies, Borders Re-Open
- January 5,2021
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- SUSTG Team
Saudi Arabia and other GCC nations effectively ended their 42 month-long rift with neighboring Qatar on Monday, signaling a new era in Gulf political and economic relations and bringing to a close a long dispute begun in June 2017.
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Positive Economic Data Seen in Latest Saudi Chartbook for January 2021 – Jadwa Investment
- January 4,2021
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- SUSTG Team
A more optimistic Saudi private sector reacting to the start of the vaccine rollout in the Kingdom is is being credited for positive data seen for Saudi Arabia’s economy, Jadwa Investment says in its latest Charbook for the month of January 2021. Saudi Arabia’s non-oil PMI saw a significant monthly rise in November, the latest data available and reported […]
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Saudi-led Coalition Strikes Targets in Yemen after Aden Airport Attacked
- December 31,2020
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- SUSTG Team
Saudi-led coalition warplanes struck targets in Yemen’s Houthi-held capital Sanaa on Thursday in retaliation for attacks in the southern port city of Aden the previous day, including at the airport which killed at least 25, according to reports. The attacks at the Aden airport on Wednesday took place as officials in a government backed by […]
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Trump Administration Approves Nearly $300 Million in Bomb Sales to Saudi Arabia
- December 30,2020
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- SUSTG Team
The Trump Administration’s State Department has approved a possible the sale of nearly $300 million in GBU-39 Small Diameter Bomb I (SDB I) Munitions and related equipment to Saudi Arabia, the latest large U.S.-Saudi security deal to be approved in recent years. The principal contractor will be U.S.-based Boeing, St. Louis, MO.
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Saudi Arabia’s PIF Makes Two Moves in Security, Defense Space
- December 29,2020
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) and its defense subsidiary SAMI announced separate moves in the defense and security space this week, according to reports. The PIF said Tuesday it had established a company to develop and expand the private security sector in the Kingdom, creating the National Security Services Co. (SAFE). SAFE will focus on […]
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MUST-READS
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Saudi female graffiti artist hopes to showcase artwork across Kingdom
Saudi female graffiti artist Noura bin Saidan has unveiled her latest mural at the Riyadh Zoo. It took Saidan two weeks to complete the 40-meter-long and 30-meter-high mural. Speaking about her work, she described it as a “story about the relationship between animals and humans.”
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David Cameron to start teaching post at Abu Dhabi university
As first reported by the Financial Times, Cameron will take a post at New York University Abu Dhabi, in the United Arab Emirates (UAE), and will lecture students on "practising politics and government in the age of disruption" in a three-week course that is also expected to touch on the war in Ukraine and migration in Europe. Cameron was the UK prime minister from 2010 until 2016, overseeing the referendum on Britain leaving the European Union, which badly backfired for the pro-EU politician when the final result ended up as 52 to 48 per cent for the leave camp.
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Chart: The Deadliest Countries for Journalists in 2022
Reporters Without Borders (RWB) counts a total of 57 journalists and media workers that have been killed this year because of their job, including eight killed in Ukraine. Additionally, RWB has recorded 532 that are imprisoned as of December 14.
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Saudi Electricity Co. signs contracts worth $720m to implement smart grid projects
The Saudi Electricity Co. signed two contracts at a combined value of SR2.7 billion ($720 million) with a Chinese and a Saudi company for a project to supply and install 60,000 smart devices to the Kingdom’s electricity distribution network, the Saudi Press Agency reported. The project also involves connecting the country’s distribution network with advanced control centers over the next two years as SEC looks to automate and develop electrical networks in line with its digital transformation strategy.
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HSBC to stop funding new oil and gas fields as part of policy overhaul
HSBC (HSBA.L) will stop funding new oil and gas fields and expect more information from energy clients over their plans to cut carbon emissions, the banking giant said on Wednesday, as part of a wider update of its sector policy. Activist groups that have been critical of HSBC in recent years mostly hailed the move by one of the biggest lenders to energy companies in the world as a keenly awaited update that will drive companies towards a cleaner future.
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Chinese EV start-up Enovate to build plant in Saudi Arabia as President Xi’s visit to Riyadh begins to pay off
Enovate Motors, a Chinese electric vehicle (EV) start-up, plans to build a factory in Saudi Arabia, following a state visit by President Xi Jinping to the kingdom. The carmaker, which counts Shanghai Electric Group as an early investor, said on Monday that it had signed an agreement with Saudi Arabian authorities and joint-venture partner Sumou to set up an EV plant with an annual capacity of 100,000 units. The factory, which will include a research and development centre, will cost about US$500 million, Enovate said in a statement.
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Khaled Bin Alwaleed’s KBW Ventures Joins Series A Round For American Foodtech Startup Black Sheep Farms
"KBW Ventures is backing Black Sheep Foods with our eyes on the massive addressable market size of sheep and the other heritage meats that the company has in the pipeline," Prince Khaled told Entrepreneur Middle East. "The company's technology, allowing for an amplified flavor profile, excellent texture, and good nutritional approach, makes for a winning platform. We see Black Sheep Foods blazing a new trail for a needed product profile that has thus far gone unaddressed."
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MENA’s 50 Most Funded Startups 2022
Despite the global economic downturn, startups in MENA have continued to attract significant funding in 2022, with a total of $3.2 billion raised by the 50 most-funded startups, compared to $3 billion in 2021. Fintechs reign this year, with 21 companies attracting $1.3 billion in total funding, followed by 10 e-commerce players with $576.7 million, four delivery and mobility startups with $299.6 million, and three logistics firms with $292 million.
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MENA’s 50 Most Funded Startups 2022
Despite the global economic downturn, startups in MENA have continued to attract significant funding in 2022, with a total of $3.2 billion raised by the 50 most-funded startups, compared to $3 billion in 2021. Fintechs reign this year, with 21 companies attracting $1.3 billion in total funding, followed by 10 e-commerce players with $576.7 million, four delivery and mobility startups with $299.6 million, and three logistics firms with $292 million.
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Artists bring region’s rich history to life at Misk Art Week
As one of 22 collaborating galleries of the Misk Art Week, Lakum Art Space’s “Performing Bodies” exhibition brings six female regional artists together to experiment with various folkcraft techniques, bringing the region’s rich history to life. “Not only does Misk Art Week give artists exposure but it gives them a chance to tell their story and that’s what is important. It also allows artists to connect and have this one week of a year to converse and tell their own story whether that’s through a group exhibition or a residency,” 26-year-old exhibiting artist Hana Almilli told Arab News.
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