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QUOTED
In 2020, “Saudi Arabia, Oman, Bahrain and Egypt could lead bond sales in the Middle East and North Africa in what Abdul Kadir Hussain, the head of fixed-income asset management at Arqaam Capital in Dubai, predicts will be another strong year for issuance. Governments and companies in the region raised a record $111 billion selling debt in 2019.”
–Bloomberg’s Netty Idayu Ismail, assessing some of the trends we might see in the Middle East in 2020. [Bloomberg]
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TOP STORY
The chairman of the General Entertainment Authority (GEA) in Saudi Arabia said that the Kingdom’s “Riyadh Season” of events has generated more than SR1 billion ($270 million) for the GEA, according to Arab News. [more]
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TOP STORY
Unemployment in Saudi Arabia declined in the 3q 2019 and is likely to continue to improve as a pick-up in the non-oil private sector growth should translate to more jobs, according to a recent report from Jadwa Investment. [more]
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TOP STORY
Global engineering, procurement and construction (EPC) firm Bechtel has re-opened its office in Al-Khobar to “meet the increasing demand for quality services in the Oil and Gas sector in Saudi Arabia and in the region,” SUSTG has learned. [more]
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TOP STORY
Saudi Arabia will lower government spending in 2020 as the Kingdom’s economic and social reforms start to kick in. That could help reduce Saudi Arabia’s medium-term fiscal vulnerabilities to lower oil prices, the Institute of International Finance (IIF) said, and put Saudi on track for a balanced budget by 2023. [more]
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MORE TOP STORYLINES
Robert Mogielnicki analyzes the growing e-commerce sector for Gulf Arab states in agsiw.org. With high per capita income and internet penetration levels the Gulf e-commerce sector is projected to reach $24b by 2020. Just as importantly, robust e-commerce growth pumps up domestic commerce and creates highly skilled jobs.
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Zubair Naeem Paracha reports on the launch of Saudi-focused, PIF vehicle (Jada) to invest in venture capital and private equity funds. Jada joins the Saudi Venture Capital Company which was established last year to invest in Saudi startups and VCs.
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in businesswire.com : Reforms include the reduction of Customs clearance from seven to ten days to 24 hours, the reduction of the manual inspection rate at Customs from 89 percent to 48 percent, and the reduction of the number of documents required to import from 12 to 2 and to export from 8 to 2. These critical reforms facilitate Saudi Arabia’s drive to be positioned as one of the world’s most dynamic logistics hubs.
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MORE ON THE KINGDOM AND BEYOND
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The first group of Iranian pilgrims in nine years made its way to Saudi Arabia on Monday...[via reuters.com]
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Experiential Dining: these days, with the rising competition, the fine dining restaurants are focusing on offering unique dining experiences that go beyond food and that includes...[By Sonia Majumder via campaignme.com]
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Saudi Arabia’s General Directorate of Civil Defense has issued weather warnings and safety instructions as the country braces for heavy rainfall.
...[By Tamara Abueish via alarabiya.net]
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Saudi Arabia has invested SAR140 million ($37 million) to support its nascent rural honey industry, the government said this week.
The country has raised subsidised production...[By Andrew Hammond via agbi.com]
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The UK and Saudi Arabia will hold a trade expo in Riyadh next month as Rishi Sunak launches an investment drive aimed at taking advantage...[By Alex Wickham via bnnbloomberg.ca]
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On a clear day in March, tourists in golf carts and jeeps bounce amid dunes and cliffs at Desert X AlUla, a biannual open-air exhibition...[By Sam Dagher via indiatimes.com]
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After seeing the major success of its mobile game Monopoly Go, Saudi Arabia’s Savvy Games Group plans to invest more in...[via alarabiya.net]
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Dana Stroul, who until December was the most senior civilian official at the Pentagon with responsibility for the Middle East, insisted: “Whatever regional politicians may...[By Patrick Wintour via theguardian.com]
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Saudi Arabia's oil production is expected to reach 11 million barrels per day (bpd) by 2029, according to Amine Mati, the International Monetary Fund’s (IMF) Mission Chief for...[via argaam.com]
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The House voted after nearly 12 hours of debate Wednesday night to impeach President Trump for his conduct toward Ukraine and his refusal to cooperate...[via washingtonpost.com]
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Governments and companies in the region raised a record $111 billion selling debt this year, according to data compiled by Bloomberg....[By Netty Idayu Ismail via bloomberg.com]
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More than 450 people, mostly unarmed demonstrators but also some members of the security forces, have been killed since a wave of popular unrest began...[By Ahmed Rasheed via reuters.com]
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All Iranians connect to the international internet through Iran’s Telecommunication Infrastructure Co. — which operates under the Ministry of Communications and distributes internet services through...[By Melissa Etehad and Ramin Mostaghim via latimes.com]
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Over 370,000 Syrian refugees have already returned to the "peace zone," a stretch of land in Northern Syria that Erdoğan reestablished after his military forced Kurdish forces to...[By Marty Johnson via thehill.com]
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Turkey’s relations with the Gulf Arab states have continued to intensify as Ankara and some Gulf Arab countries – Saudi Arabia, the United Arab Emirates,...[By Steven A. Cook and Hussein Ibish via agsiw.org]
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Gen. Mark Milley, the top US military official, met his Russian counterpart Gen. Valery Gerasimov in Bern, Switzerland, today as part of an ongoing high-level...[By Jack Detsch via al-monitor.com]
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Former Minister of Education and Higher Education Hassan Diab looks set to be named Lebanon's new prime minister on Thursday, senior political sources have said,...[via aljazeera.com]
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