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Recent stories from sustg
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Inexpensive solar panels are super-charging renewable energy growth
- October 25,2024
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- SUSTG Team
Solar PV and wind additions are forecast to more than double by 2028 compared with 2022, continuously breaking records over the forecast period to reach almost 710 GW.
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IMF World Economic Outlook releases KSA forecasts for ’24 and ’25
- October 23,2024
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- SUSTG Team
In its just-released World Economic Outlook Report the International Monetary Fund further lowered its GDP growth forecast for Saudi Arabia for 2024 to 1.5% and estimated growth to accelerate to 4.6% next year.
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Saudi Finance Minister makes strong case for multilateralism at IMF, World Bank meetings
- October 23,2024
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- SUSTG Team
Saudi Finance Minister Mohammed Al Jadaan appealed for a strong defense of multilateralism, warning of the challenges that global fragmentation poses to trade and humanitarian efforts.
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16th BRICS summit in Russia October 22-24
- October 22,2024
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- admin
The 16th BRICS summit kicked off today in Kazan, Russia.
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New Murabba project hits early milestone
- October 21,2024
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- SUSTG Team
The ambitious $50 billion New Murabba project has excavated 10 million cubic meters in preparation for construction as it works to meet a December 2030 deadline.
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Lucid CEO discusses EVs and Saudi investment
- October 18,2024
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- SUSTG Team
Lucid CEO, Peter Rawlinson, chats with Liz Hoffman and Semafor about the EV market, Elon Musk and Saudi Arabia’s Public Investment Fund.
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BBC Travel’s superb feature on Swizz Beatz and his love for AlUla and Saudi Arabia
- October 17,2024
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- SUSTG Team
Bronx-born entertainer Kasseem Daoud Dean – Swizz Beatz – talks with Eva Sandoval and BBC Travel for a remarkable discussion of his favorite places in Saudi Arabia.
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First EU-GCC Summit today in Brussels
- October 15,2024
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- admin
The first summit between the leaders of EU and Gulf Cooperation Council (GCC) takes place today, October 16, 2024, in Brussels. The summit is co-chaired by Charles Michel, President of the European Council, and H.H. Sheikh Tamim bin Hamad Al Thani, Emir of Qatar, the current rotating President of the GCC.
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Global Logistics Forum 2024 concludes in Riyadh
- October 14,2024
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- admin
The Global Logistics Forum (GLF) hosted by the Ministry of Transport and Logistic Services, gathered industry leaders from the region October 12-14, 2024, at the King Abdullah Financial District.
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US approves new arms sale to KSA
- October 14,2024
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- SUSTG Team
Saudi Arabia has received clearance from the U.S. State Department to purchase missiles, ammunition and other weapon systems via three foreign military sale transactions worth potentially $1.05 billion.
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MUST-READS
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Careem launches $198 Bahrain-Saudi service
As part of the service, users can book a car for a one-way journey from Bahrain to a number of Saudi cities, including Dammam, Khobar, Dhahran, Jubail, Buqaiq, Hufof and Riyadh, with fares starting from $198. The intercity service was first piloted in the UAE and Egypt, and the vehicles can carry up to five passengers for each trip.
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McLaren receives $760m investment from Saudi Arabia, Bahrain
McLaren has been hit particularly hard by the pandemic, resulting in the company previously having to shed 25% of its workforce, sell a third of its Formula One team, and sell its famous Woking, United Kingdom, headquarters in a lease-back deal.
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Bahrain’s Arcapita to launch $1.5bn property fund targeting Saudi Arabia and UAE, says CEO
“The Saudi market is very promising, and we have a real estate portfolio in the Kingdom that we started forming about a year and a half ago, with a value of more than $200 million, and we are currently working on buying additional real estate worth $500 million to maximize this portfolio,” he told Asharq Business.
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Bahrain’s Batelco Telecom Considers Saudi Dual Listing
Bahrain’s biggest telecommunications firm is planning to become the first company to have a dual listing of shares on Saudi Arabia’s stock exchange, according to people familiar with the matter.
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Bahrain’s Sizable Islamic Banking Sector Has Scope for Growth
The market share of Islamic banks (including Islamic windows) in Bahrain is expected to increase in 2021-2022 after reaching 37.1% of domestic banking system assets and 17.2% of total banking system assets (including foreign assets) at end-2020, Fitch Ratings says. The increase will be driven by bank mergers and acquisitions, continued Islamic financing growth amid a recovering economic environment, rising public awareness of Islamic products, and greater use of fintech solutions.
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Bahrain, Facing a Covid Surge, Starts Giving Pfizer Boosters to Recipients of Chinese Vaccine
The Persian Gulf island nation of Bahrain, battling a sharp resurgence of Covid-19 despite high levels of inoculation with a Chinese-made vaccine, has started giving booster shots to vulnerable citizens using a different vaccine made by Pfizer Inc. and BioNTech SE, a senior official said.
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Rotana to Expand Presence in Saudi, Bahrain and Qatar
The hospitality group has announced their intention to open ten new hotels over the next three years, adding 3,000 new keys. While international markets will continue to be a key focus for Rotana, the hospitality group remains committed to strengthening its footprint in the UAE and plans to meet the predicted growing demand for hotel rooms in the upscale segment in 2021 and beyond.
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Saudi Arabia reopens King Fahd Causeway link to Bahrain
Ten new lanes have been added to the departure area, taking the total number of lanes up to 27
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Causeway reopening set to boost Bahrain’s economy by $2.9 billion
Bahrain’s Chamber of Commerce and Industry revealed its members are anticipating a $2.9 billion surge in spending once the King Fahd Causeway reopens on May 17, based on tourist spending habits from 2019.
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Trade with Saudi Arabia Accounts for 45% of All Bahrain-GCC Trade
Flow of trade between Manama and Riyadh depends largely on the King Fahd Causeway, where the adoption of new technology in the field of logistics services accelerated processing for the business of multinational companies based in Bahrain.
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