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Senate Votes Down Proposal to Block U.S. Arms Sale to Saudi Arabia
- September 22,2016
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- Lucien Zeigler
The Senate on Wednesday rejected a bipartisan proposal to block a pending $1.15 billion United States arms sale to Saudi Arabia by a vote of 71-27. The Senate action comes as Congress is considering whether to override an expected presidential veto of the so-called JASTA bill, allowing 9/11 victims’ families to sue the Saudi government. The proposed […]
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White House Lobbies Senate on JASTA, Works Toward 34 Votes to Prevent Veto Override
- September 21,2016
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- Lucien Zeigler
Some Senate Democrats on Capitol Hill continue to consider their votes on the Justice Against Sponsors of Terrorism Act (JASTA) and, according to some reports, are “starting to show cracks in their support” of the legislation after efforts by the Obama administration to convey the risk of the bill’s potential international relations fallout. JASTA, which would expand […]
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Asian Banks Said to Have ‘Intense Interest’ in First Saudi Foreign Debt Issuance, Reports Say
- September 1,2016
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- SUSTG Team
Saudi Arabia is seeing “intense interest” in its first international bond sale of $15 billion and is considering further issuances given the current appetite, according to a report today in the Financial Times. The Kingdom’s first international debt sale has generated so much interest from particularly from Asian investors that “the kingdom is weighing a […]
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Deputy Crown Prince Mohammed bin Salman Arrives in China, Meets with Top Chinese Officials to Discuss ‘Vision 2030’
- August 30,2016
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- SUSTG Team
Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman and a delegation including top ministers and other officials are in China this week for talks aimed at pushing the Kingdom’s Vision 2030 broad economic reforms. The visit to global economic powerhouse China, like the Deputy Crown Prince’s visit to the United States in June, hopes to “showcase […]
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U.S. State Department Approves Potential $1.15b Sale of 130 Abrams Battle Tanks, 20 Armored Recovery Vehicles to Saudi Arabia
- August 10,2016
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- SUSTG Team
The U.S. State Department has approved the potential sale of more than 130 Abrams battle tanks, 20 armored recovery vehicles and other equipment, worth about $1.15 billion, to Saudi Arabia, the Pentagon said on Tuesday. “The State Department has made a determination approving a possible Foreign Military Sale to the Kingdom of Saudi Arabia for […]
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Mohammed Bin Salman Departs U.S. for France, Sends Cable Thanking U.S. and Obama for Hospitality
- June 27,2016
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- SUSTG Team
Saudi Deputy Crown Prince Mohammed bin Salman sent a cable of thanks to US President Barack Obama on Sunday as he concluded his visit to the United States. “I am pleased as I am leaving your friendly country after the end of my official visit to extend to Your Excellency my deep thanks for the […]
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Deputy Crown Prince, Delegation Meet with Ban Ki Moon at the United Nations
- June 23,2016
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- SUSTG Team
Deputy Crown Prince Mohammed bin Salman and an eight-member delegation arrived at the U.N. yesterday for meetings with the Secretary General, Ban Ki Moon. The Prince and his delegation reportedly discussed Mr. Ban’s decision to cite the Saudi-led military coalition in the Yemen conflict for violating the rights of children. According to the New York Times, Prince Mohammed […]
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Deputy Crown Prince Mohammed bin Salman, Minister of Commerce Majed Al-Qasabi Tour Facebook, Meet with Mark Zuckerberg
- June 23,2016
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- SUSTG Team
Saudi Arabia’s Deputy Crown Prince, Mohammed Bin Salman, met Facebook Inc. Chief Executive Officer Mark Zuckerberg during a tour of Silicon Valley before departing for New York. The Deputy Crown Prince was given a tour of Facebook’s headquarters in Silicon Valley and was accompanied by the Saudi Minister of Commerce, Dr. Majed al-Qasabi. Prince Mohammed […]
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Concluding Trip to Silicon Valley, Deputy Crown Prince Mohammed bin Salman and Delegation Ink MOU with Microsoft
- June 22,2016
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- SUSTG Team
Saudi Deputy Crown Prince Mohammed bin Salman met with Satya Narayana Nadella, chief executive officer of Microsoft, at the company’s Silicon Valley offices in San Francisco on Tuesday and signed two deals with the IT giant, according to reports. The first MOU between Saudi Arabia and Microsoft “will train young Saudis and will support Saudi Arabia […]
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Deputy Crown Prince Mohammed bin Salman Meets with President Obama, Receives Praise for “Vision 2030”
- June 20,2016
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- Lucien Zeigler
Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman met with President Obama on Friday at the White House to discuss regional and economic issues with the President, Vice President and other members of Obama’s cabinet. The President “commended” Prince Mohammed’s “Vision 2030” plans to reform Saudi Arabia’s economy and society, according to a readout. “The […]
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MUST-READS
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Oil Climbs With Stock Markets as Volatility Takes a Hit
Oil traded near the highest close in more than two years as optimism over burgeoning demand -- particularly in the U.S. -- outweighed concern that Iranian supplies will jump should sanctions on exports be lifted. West Texas Intermediate rose 1%, following positive sentiment across markets. Still, prices have been stuck in a $10 range since March, and volatility on the global Brent benchmark has fallen to its lowest level since last August.
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US May Intervene in Saudi MBS Lawsuit, Fears Will Reveal Secrets
Attorneys for MBS have also accused al-Jabri of using his anti-terror programs to embezzle $3.4 billion from the Saudi state. Al-Jabri denies the claim.
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Opinion: Can Normalizing Saudi-Israeli Relations Improve MbS’ Reputation in DC?
MbS must deal with constraints that will likely give him good reason to avoid signing a diplomatic deal with Israel under the current circumstances. Regionally, there are concerns about how rivals and adversaries could leverage any Saudi-Israeli accord against the Kingdom to try and convince more Arabs and Muslims that the Al Saud family is not in a position to lead the Islamic world.
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MBS Holds Tight on Saudi Aramco, The World’s Most Profitable Company
On track for $80 billion in income this year, Saudi Aramco held onto its No. 5 spot in the Global 2000. Shares trade “in their own universe,” as investors show faith in the vision of Crown Prince Mohammed bin Salman.
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Saudi Arabia’s MBS says Aramco stake could be sold to a foreign investor
Saudi Arabia is considering selling part of its giant state oil company to a major foreign investor, likely from China. The kingdom's crown prince, Mohammed bin Salman, confirmed the possible sale of a 1% stake in the world's biggest oil company on Tuesday. The stake would be worth about $19 billion based on Aramco's market value.
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Toll climbs to 82 in Baghdad hospital fire, says Iraq government
At least 82 people were killed in the fire which ripped through a Baghdad coronavirus ward, Iraq’s Interior Ministry said Sunday, sparking anger and frustration over the state of the country’s buckling health system. Another 110 people were wounded in the blaze at Baghdad’s Ibn al-Khatib hospital late Saturday, a ministry official told Iraqi state media.
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Commentary: In MBS’s Saudi Arabia, tech, not oil, is the hot new thing
“When MBS went on and invested in Uber and SoftBank Vision Fund publicly, these were big moves; they were visionary moves,” said Mohammed Aldhalaan, CEO and founder of a Saudi edtech company called Noon Academy. “They were telling everyone Look, the highest authority in the country believes in startups, believes in technological transformation — and that had a huge impact on the country,” he said. “There’s no doubt about it.”
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Commentary: MBS Wants Saudi Arabia Fund to Reach $2 Trillion in Assets
The crown prince’s ambitious plan for the Public Investment Fund would change the kingdom’s dependence on oil while creating the world’s largest pool of institutional money, but questions remain.
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Saudi Aramco Shares Rise as Crown Prince MBS Prioritizes Spending Over Dividends
The dividend cut won’t impact minority shareholders, the crown prince said. The government had promised they would get their share of the total payout for five years after Aramco sold a small stake in its 2019 initial public offering.
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Qatar’s Amir, Saudi Arabia’s MBS discuss ‘green initiatives’ in phone call
The royals also tapped into road map to address challenges, including “clean energy, reforestation and natural reserves, in order to achieve a significant reduction in carbon emissions, preserve biodiversity, and enhance public health and quality of life”.
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