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QUOTED
“At the beginning it was Carlos opening the road until he got stuck. Then Nasser got stuck in the dunes and after that I opened the road for more than 200 kilometres. Navigation was so tricky that we all reduced the speed.”
-Stéphane Peterhansel, French rally racing driver and 3x Dakar Rally winner, on the recent ongoing race in Saudi Arabia. Peterhansel is among three leaders in the race, including Carlos Sainz (ESP) and Nasser Al-Attiyah (QAT). The three leaders have 18 total Dakar Rally wins between them. [redbull.com]
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TOP STORY
The Kingdom of Saudi Arabia has realized a remarkable leap in the World Bank’s Women, Business and the Law 2020 report, with a score of 70.6 out of 100 and achieving the honor of being the top improver over the last year, according to reports. [more]
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TOP STORY
Saudi Aramco sold millions of additional shares of its initial public offering using a so-called “greenshoe option” that has raised the size of its IPO by nearly $4 billion. [more]
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TOP STORY
Saudi Aramco Energy Ventures (SAEV), a unit of the kingdom’s energy company, is preparing to start a new $500 million fund this year after completing $500m in investments, Bloomberg reports. [more]
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MORE TOP STORYLINES
From Nafisa Eltahir in reuters.com: “In 2020, we see an acceleration of gains in Saudi stocks benefiting from social reforms and greater spend on projects and homebuilding,” said Akber Khan, head of asset management at Al Rayan Investment in Doha.
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From Vivian Lee in nytimes.com: “I think the reason coffee shops became a trend is because people are more open to change,” said Shaden Alkhalifah, 30, who was studying at Draft Café in Riyadh on a recent evening. “It has something to do with the current political dialogue,” she added. (And, perhaps, with the many Saudis who have studied abroad in cities with single-origin coffee bean fetishes.)
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From Agnes Helou in defensenews.com: SAMI’s business plan involves three phases. “Phase 1 of two years’ length is the setup and definition phase, and is about to conclude by the end of 2019. Phase 2 is the rollout of production lines, which is expected to take three years and finish by the end of 2023. The last phase we planned is a stable growth phase.”
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MORE ON THE KINGDOM AND BEYOND
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For decades, Saudi Arabia’s power sector has heavily relied on hydrocarbons for electricity generation. Their abundant supply, affordability, and differential...[via kapsarc.org]
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Saudi officials confirmed in a statement to the United Nations high commissioner for human rights that Manahel al-Otaibi was sentenced on 9 January for...[By Stephanie Kirchgaessner via theguardian.com]
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The entertainment industry in Saudi Arabia has seen a serious boost in recent years as the country continues on its course to becoming a hub...[via consultancy-me.com]
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The world's largest asset manager BlackRock (BLK.N), opens...[By Iain Withers via reuters.com]
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"They are putting a lot of funds to create the transition," Nasser said in a special meeting of the World Economic Forum in...[By Jennifer Gnana and Rosemary Griffin via spglobal.com]
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In general, and despite the succession of these loans, it is certain that the Kingdom’s economy has not slipped into danger, as the Kingdom’s debts...[By Ahmed Zikrallah via middleeastmonitor.com]
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The US on Tuesday approved a blanket order of training for Saudi Arabia’s Naval Forces in a deal worth $250 million....[via alarabiya.net]
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Banks operating in Saudi Arabia reported a 6.7% decline in aggregate net profit before Zakat and tax to nearly SAR 6.93 billion in March, compared...[via argaam.com]
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BlackRock Saudi Arabia and PIF have expressed the intention to establish BlackRock Riyadh Investment Management (BRIM), which will encompass investment strategies across a range of...[via pif.gov]
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U.S. Secretary of State Antony Blinken met with Saudi Crown Prince Mohammed bin Salman on Monday in Riyadh, where they discussed the urgent need to...[By Humeyra Pamuk via reuters.com]
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The United States is nearly ready with a security package to offer Saudi Arabia if it normalises relations with Israel, US Secretary of State Antony...[via thearabweekly.com]
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Heavy rains and thunderstorms have lashed Saudi Arabia over the past 24 hours, causing widespread flooding and significant damage.
Amidst the downpour, visitors at the...[By Khitam Al Amir via gulfnews.com]
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The money will finance construction of a bridge crossing the River Nile in northwest Uganda and roads totalling 105 kilometres, according to the ministry....[via theeastafrican.co]
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The domestic unrest triggered by the plane crash comes just two months after the most violent crackdown on protests since the revolution. The authorities killed...[By Parisa Hafezi and Babak Dehghanpisheh via reuters.com]
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The European powers said they were acting to avoid a crisis over nuclear proliferation adding to an escalating confrontation in the Middle East. Russia, another...[By John Irish and Guy Faulconbridge via reuters.com]
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The entire Russian government is resigning, Prime Minister Dmitry Medvedev announced Wednesday, after President Vladimir Putin proposed reforms that would weaken his successor.
Putin thanked members...[By Mary Ilyushina via cnn.com]
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“Heightened military activity and increased political tensions in this region continue to pose serious threats to commercial vessels,” the U.S. said in a maritime warning....[via militarytimes.com via AP]
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cybersecurity experts remain deeply concerned about the potential for more clandestine acts of retaliation. Iran, after all, is notorious for its use of asymmetric warfare....[By Steven Melendez via fastcompany.com]
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Shooting broke out on Tuesday in the capital Khartoum and the city's airport was briefly closed amid the clashes.
The violence was sparked by a row...[via bbc.com]
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Israel began exporting natural gas to Egypt on Wednesday under one of the most important deals to have been signed by the neighbors since they...[via arabnews.com]
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Pakistan’s foreign minister will be in Washington today for talks with US officials following visits to Iran and Saudi Arabia....[By Nick Giurleo via foreignbrief.com]
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Nearly all of the rainfall that feeds the Nile’s two major tributaries, the Blue and White Nile, falls in the upper Nile basin, found in...[By Ethan D. Coffel and Justin S. Mankin via qz.com]
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We reject Turkish military intervention in northern Syria, says Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan bin Abdullah....[via arabnews.com]
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“Iranian support to the Taliban is tempered by their realization that Taliban control of Afghanistan is not in Iran’s best long term interest due to...[By Shawn Snow via militarytimes.com]
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Hakan Sukur is Turkey's greatest ever goalscorer and once one of Europe's most prolific strikers. A legend.
So, how did he end up driving taxis and...[By Ciaran Varley via bbc.com]
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