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Saudi Arabia’s Swings for Fences With ‘Bold, Risky’ Solar Bet
- March 30,2018
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- SUSTG Team
Saudi Arabia and SoftBank signed a MOU to build a $200 billion solar power project this week in New York, dwarfing all other existing or planned projects in the world and placing the Kingdom and its 3,000 hours of sunshine a year into a global leadership position in the renewable energy field. The project, unveiled in New York this week […]
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Saudi Leadership Delighted at FTSE Inclusion for Tadawul; Billions Expected in Fresh Inflows
- March 29,2018
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- SUSTG Team
The Saudi Arabian stock market will join FTSE Russell’s emerging market index starting in March next year in a move that will likely bring billions of dollars of fresh investment into the Kingdom, Reuters reports. Saudi Arabia’s Crown Prince Mohammed bin Salman and Finance Minister Mohammed Al-Jadaan met with the Mark Makepeace, chief executive of […]
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Crown Prince Mohammed bin Salman visits Harvard, MIT in Boston
- March 26,2018
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- SUSTG Team
Crown Prince Mohammed bin Salman visited Harvard University and MIT in Boston, Massachusetts over the weekend to tour two of America’s premiere higher education campuses and talk about the importance of research and entrepreneurship to Vision 2030. The visit to Boston is the second stop in a weeks long tour across the United States, his first […]
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Busy First Full Day for Crown Prince Mohammed bin Salman Including Meetings with President, Congress
- March 21,2018
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- SUSTG Team
In his first full day in Washington, Crown Prince Mohammed bin Salman kept a busy schedule of meetings, according to reports and photos released by the Saudi Press Agency. Crown Prince Mohammed had at least two separate meetings with members of Congress, and another meeting with Donald Trump’s son-in-law, Jared Kushner, at the expansive Saudi residence in […]
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Interview: Bechtel’s Millennial Saudi Country Manager Abdulrahman Al-Ghabban Discusses Company’s Activities and Ambitions in Vision 2030 Era
- March 19,2018
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- Lucien Zeigler
San Francisco-based Bechtel is one of the largest engineering, construction, and project management companies in the world, and it’s been doing business in Saudi Arabia for 75 years. Following the announcement of Saudi Arabia’s Vision 2030 economic and social reform plan, the company hired its first Saudi national as country head of its operations in the Kingdom […]
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Report Says ‘Comprehensive Solution’ for Yemen Civil War under Negotiation between Saudi Arabia, Houthis
- March 16,2018
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- SUSTG Team
Saudi Arabia and armed Houthi forces are holding heretofore secret talks to try to end the three-year-old war, diplomats and Yemeni political sources told Reuters. Two diplomats and two Yemeni officials said Houthi spokesman Mohammed Abdul-Salam had been in direct communication with Saudi officials in Oman on a “comprehensive solution” to the conflict, the report said. “There are consultations […]
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Shrugging Off Uncertainty, Investors Pour Money into Saudi Arabia with ‘Strong Underlying Fundamentals’
- March 15,2018
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- SUSTG Team
Saudi Arabia is “the hottest emerging market” right now as investors appear to be shrugging off concerns surrounding last year’s crackdown on corruption and with optimism surrounding Vision 2030’s economic and social reforms now coming into effect, CNN Money reports. “Equity funds investing in Saudi Arabia saw net inflows of $110 million between the start […]
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Saudi Government Aims for $57 Billion Growth in Mortgage Industry by 2020, Report Says
- March 14,2018
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- SUSTG Team
Saudi Arabia’s housing ministry has set a target for the mortgage market to reach a total value of 502 billion riyals ($134 billion) by 2020 from a current 290 billion riyals ($77.3 billion), according to a report in Reuters which cited the Kingdom’s minister of housing Majed al-Hogail. That goal can be reached through new efforts […]
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Trump to Host Saudi Crown Prince Mohammed bin Salman at White House on March 20
- March 13,2018
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- SUSTG Team
President Donald Trump will host visiting Saudi Crown Prince Mohammed bin Salman in Washington on March 20 at the White House, Press Secretary Sarah Huckabee Sanders said Monday, noting that the president “looks forward to strengthening ties between the United States and Saudi Arabia.” Prince Mohammed will arrive to a tumultuous time in Washington, especially in the foreign […]
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Saudi Aramco IPO Delayed Until 2019, Financial Times Reports for Second Time
- March 12,2018
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- SUSTG Team
Saudi Aramco’s long-awaited IPO “could be delayed until 2019 at the earliest,” the Financial Times reported on Sunday, citing British officials briefed on the matter. It is the second time the London-based newspaper was the first to report that the IPO would be delayed. The Financial Times reported the same news in September, but Saudi officials […]
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MUST-READS
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Real EstateShuaa Capital unit eyes Saudi leasing market with new licence
The licence will allow the firm to address a funding gap for small businesses and help to finance cross-border deals between Saudi Arabia and the United Arab Emirates, Shuaa Capital said in a statement on Tuesday.
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Syrian KurdsReturning Syrian Kurds Find Recaptured Kobani in Ruins
On January 27, the U.S. Central Command confirmed that the Kurds now control more than 90 percent of Kobani, though fighting continues on the outskirts. Wednesday, reporters and photographers ventured back into the recaptured city with YPG soldiers, documenting the wreckage left after months of ground battles and airstrikes.
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YemenYemen militia keeps grip on capital despite deal
Shiite militiamen maintained a tight grip on Yemen's capital Thursday with fighters deployed around the presidential palace despite a deal to end what authorities described as an attempt to overthrow the government. President Abdrabuh Mansur Hadi's abducted chief of staff remained in the hands of the Huthi militiamen, who overran Sanaa in September after sweeping south from their stronghold in the northern highlands. Under a nine-point deal reached late on Wednesday, the militia pledged to withdraw from government buildings they seized this week during two days of violence that left at least 35 people dead and dozens wounded.
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CybersecuritySaudi Cybersecurity Threat Landscape “More Intense and Complex Than Ever”
Leading Saudi IT decision-makers agree that cybersecurity threats are growing in intensity and scale across the Kingdom. The situation is putting businesses at risk of hits to both reputation and bottom line. A new survey commissioned by F5 Networks found that nearly seven in ten of surveyed businesses (68%) regarded cybercrime as a “severe” threat. 75% of respondents said that their business’ sales and marketing efforts would suffer most from an attack. Worryingly, only 15% are confident their organisation has consistent IT security measures across its entire IT network.
The Kingdom’s burgeoning cyber security market size is indicative of the new cybersecurity threat landscape. According to MicroMarket Monitor, the market is expected to grow from US$1.51 billion in 2013 to US$3.48 billion in 2019 at a CAGR of 14.50% for the period 2013 to 2019.
For the wider region, MarketsandMarkets suggests that the Middle East cybersecurity market is on course to grow from US$5.17 billion in 2014 to US$9.56 billion in 2019 at a CAGR of 13.07%.
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Green BuildingsKSA captures 15% of Arab green building projects
The Kingdom currently has more than 300 projects out of 2,000 green projects spread throughout the Middle Eastern countries, he told Al-Sharq Al-Awsat daily.
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SWPFInvestors look to capitalize on increased Saudi water, power needs
Rapidly growing population growth and a sustained development boom in Saudi Arabia have resulted in unprecedented demand for effective and efficient power and water supply. With new power stations and desalination plants in high demand, operators in the Kingdom enjoy some of the highest annual growth rates in the world, with strong profit margins for efficient companies.
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ExtremismSaudi Arabia captures Shi’ites suspected of instigating unrest
Saudi security forces have arrested a man believed to belong to a Shi'ite Muslim group blamed for instigating protests and unrest in the country's Eastern Province, the Interior Ministry said on Friday.
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Jordan and DaeshISIS releases interview with captive Jordanian pilot
First Lt. Muath al-Kaseasbeh's F-16 went down near ISIS's de facto capital of Raqqa Wednesday. The 26-year-old Jordanian is the first foreign military pilot to fall into the extremists' hands since an international coalition began its aerial campaign against ISIS in September.
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SyriaJordan Says IS Fighters Capture Pilot in Syria
Jordan said Islamic State militants have captured one of its pilots after his plane went down in northern Syria during "a mission" against Islamist insurgents.
- Yahoo! - More than 1,100 jihadists killed in US-led Syria strikes
- McClatchy - U.S. strikes in Syria ease Islamic State pressure on moderate rebels
- Informed Comment - Have the Kurds cut the ISIL/Daesh State in Two, Blocking Supply Lines?
- Al Monitor - US to accept thousands of Syrian refugees for resettlement
- Al Jazeera - The Heritage sites ravaged by Syria's war
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Saudi Start UpsSaudi-Based Alkhabeer Capital Launches New Unit To Fund Start-Ups
Saudi Arabia has been pushing to develop a startup culture in a bid to lower its burgeoning unemployment rate. In line with that, many major companies in the Kingdom have a venture capital arm that provides funding to SMEs in the country. Aramco Entrepreneurship Centre, established by state oil major Saudi Aramco in 2011, has funded up to 43 ventures across sectors such as manufacturing, education and information technology in the last three years.
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