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Recent stories from sustg
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Minister of Investment leads investor delegation to Pakistan
- October 11,2024
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- SUSTG Team
A Saudi investor delegation headed by Minister of Investment Khalid Al-Falih is concluding a three-day visit to Pakistan. The delegation includes officials and companies from various sectors including energy, mining, minerals, agriculture, business, tourism, industry and manpower.
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‘Invest in Coastal Tourism’ report aims for 19m Red Sea tourists by 2030
- October 10,2024
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- admin
The Saudi Red Sea Authority (SRSA), in collaboration with the Ministry of Investment, has released a report titled “Invest in Coastal Tourism” that outlines development goals for the entire Red Sea coast.
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PIF steps up Saudi clean hydrogen push
- October 9,2024
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- SUSTG Team
Bloomberg reports that the Public Investment Fund intends to invest at least $10 billion to support production of clean hydrogen.
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Saudi Box Office update
- October 8,2024
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- SUSTG Team
With the second edition of the Saudi Film Confex occurring in Riyadh October 9-12 the Saudi box office and movie-goer numbers in 2024 are down but less so than global averages.
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Saudi official reserves hit 21-month high at $470 billion
- October 7,2024
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- admin
Saudi Arabia’s official reserve assets reached $469.83 billion in August, the highest in 21 months and a 10 percent increase year-on-year, according to recent data.
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GCC FMs meet to discuss escalating tensions in region
- October 4,2024
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- admin
With tensions escalating in the region top foreign ministry officials from each GCC state met in Doha, Qatar to discuss the crisis and assess policies.
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Work on kilometer-high Jeddah tower to resume
- October 3,2024
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- SUSTG Team
At a ceremony held on the site Wednesday, the development consortium behind the project, Jeddah Economic Company (JEC), announced that the tower is now scheduled to finish in 2028.
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Saudi MOF issues budget report: deficits and reduced GDP growth projected
- October 2,2024
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- SUSTG Team
Saudi Arabia’s Ministry of Finance cut its growth forecasts and raised its budget deficit estimates for the fiscal years 2024 to 2026, anticipating higher spending and lower projected oil revenues.
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2024 Saudi Games kick off!
- September 30,2024
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- SUSTG Team
The Saudi Games is the largest national sporting event held in Saudi Arabia. The third annual Saudi Games kicked off on September 29 and will run to October 17, 2024.
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Saudi Arabia forms global alliance in support of Israeli-Palestinian two-state solution
- September 30,2024
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- SUSTG Team
European, Arab and Islamic nations have launched an initiative to strengthen support for a Palestinian state and its institutions, and prepare for a future after the war in Gaza.
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MUST-READS
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New horizons ahead for horseracing in the Gulf as Saudi, Bahrain and UAE talk
The initial set of talks will take place between the UAE’s Dubai Racing Club, the Jockey Club of Saudi Arabia and Bahrain’s Rashid Equestrian & Horse Racing Club, UAE state news agency WAM reported on Monday night.
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Vaccine Passports: Israel, Bahrain reach landmark agreement for ‘first bilateral agreement for mutual recognition of COVID-19 vaccine passports’
Israel and Bahrain on Thursday reached what Israel calls the world’s first bilateral agreement for mutual recognition of COVID-19 vaccine passports for quarantine-free travel between two countries, an Israeli diplomat who helped forge the deal tells NPR. “This is the most effective way to enable movement of people between countries,” says Ilan Fluss, head of the Israeli foreign ministry’s economic division. “A lot of countries are looking at testing, but it is not enough.”
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Bahrain’s King Hamad receives Saudi interior minister
Bahrain’s King Hamad received Saudi Minister of Interior Prince Abdulaziz bin Saud bin Naif at Sakhir Palace in the kingdom’s western region on Sunday.
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Fitch Affirms Bahrain at ‘B+’; Outlook Stable
Bahrain's ratings are supported by strong financial backing from partners in the GCC, high GDP per capita and human development indicators even relative to 'BBB' medians and a recent track record of robust macroeconomic performance. Weak public finances, high fiscal dependence on oil revenue, low levels of FX reserves and political constraints all weigh on the ratings, although policy focus on fiscal consolidation has sharpened significantly since 2018.
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FIFA President meets Bahrain’s Crown Prince and Prime Minister
FIFA President Gianni Infantino has highlighted Bahrain’s involvement in supporting Asian football’s development during a meeting with His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister of the Kingdom of Bahrain.
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Saudi Prince Sells English Country Estate to King of Bahrain
Prince Bandar bin Sultan, a senior Saudi royal, sold a large English country estate to the King of Bahrain’s family, according to people with knowledge of the deal.
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Israel and Bahrain Sign $3 Million ‘First-of-Its-Kind’ Deal to Share Knowledge on Water Technology
Israel’s state-owned water company Mekorot has inked a $3 million deal to provide Bahrain’s Electricity and Water Authority (EWA) with consulting services on water projects and to share knowledge on technologies, in what marks the first “significant” agreement between the Jewish state and the Gulf emirate since the Abraham Accords.
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Bahraini prince’s Everest expedition flies to Nepal with thousands of coronavirus vaccine doses, surprising health officials
When a Bahraini prince flew to Nepal to climb Mount Everest this week, he didn’t show up empty-handed: Among his cargo were some 2,000 doses of AstraZeneca’s coronavirus vaccine, according posts on his climbing team’s Instagram account. It quickly became evident that the gesture, intended as a munificent gift for a remote mountain village, would turn out to be more of an international faux pas.
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Saudi’s Almarai buys bakery manufacturer in UAE, Bahrain
Saudi Arabia’s Almarai, the Gulf’s largest dairy company, said on Tuesday it had agreed to buy frozen bakery item manufacturer and producer Bakemart in the United Arab Emirates and Bahrain for an enterprise value of 93.5 million dirham ($25.5 million).
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Bahrain’s SICO buys majority stake in Saudi-based Muscat Capital
The acquisition took place by way of a share swap, which will also give Bank Muscat a 9% stake in SICO, a regional asset manager and investment bank that manages $2.3 billion in assets.
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