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Bechtel Appoints Abdulrahman Al-Ghabban as New Country Manager in Saudi Arabia
- June 19,2017
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- SUSTG Team
Bechtel, a global leader in engineering, procurement, and construction, today announced the appointment of Abdulrahman Al-Ghabban as country manager in Saudi Arabia. Al-Ghabban will lead Bechtel’s business and operations in the Kingdom. Al-Ghabban said “I am honored to be the first Saudi national to hold the position as country manager for one of the most […]
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$1.4b in Defense Contracts Approved by State Department as Senate Eyes Debate
- June 6,2017
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- SUSTG Team
The U.S. State Department has approved the potential sale of more than $1.4 billion worth of military training and equipment for Saudi Arabia, the Pentagon said on Monday, the first fraction of a $110 billion arms deal U.S. President Donald Trump agreed to with Saudi Arabia when he visited in May. The announcement by the State […]
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New Video Shows How Riyadh Metro Will Transform Saudi Capital
- May 26,2017
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- SUSTG Team
Riyadh’s new metro project is already transforming the face of the city, and will change how its citizens get around in the Saudi capital. There is no large-scale public transportation system currently in place in the city, and the city’s traffic situation reflects this reality. A new graphical video released on YouTube by The Business […]
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VAT Draft to Hit General Authority of Zakat and Tax in ‘Weeks’
- May 25,2017
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- SUSTG Team
Saudi Arabia’s General Authority of Zakat and Tax will publish the value-added tax (VAT) draft on its electronic portal within the next two weeks, Reuters reports, citing local media reported. The General Authority for Zakat and Tax announced on Sunday that the implementation of 5% VAT starting January 2018 “will have no exceptions.” This 5% […]
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New Life for the 15 Year Old Abdullah Arab Peace Initiative?
- May 24,2017
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- SUSTG Team
At a summit in Beirut in March 2002, then-Saudi Crown Prince Abdullah unveiled an initiative to achieve peace between Israelis and Palestianians. The Arab Peace Initiative set out a comprehensive proposal calling for full Israeli withdrawal from all the Arab territories occupied since June 1967, Israel’s acceptance of an independent Palestinian state with East Jerusalem as […]
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Counting The US-Saudi Deals: A Look at What We Know So Far following President Trump’s Visit to Saudi Arabia
- May 23,2017
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- SUSTG Team
Bloomberg and naturalgasintel.com feature a thorough rundown of all of the deals that were announced during the recent visit by President Donald Trump to Saudi Arabia. While the total remains unknown, the deals are estimated to be valued between $300 and $400 billion. Aerospace, Arms and Defense – $110 billion U.S. Department of Defense and Saudi […]
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Following President Trump’s Visit, U.S.-Saudi Business and Diplomatic Ties Reach New Heights
- May 22,2017
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- SUSTG Team
The two-day visit by President Trump and top members of his family and staff to Riyadh, Saudi Arabia marks a new height in the history of U.S.-Saudi diplomatic and business relations as the warm Saudi embrace of President Trump was on full display in the Kingdom. President Trump’s visit amounted to a bonanza for large, established American companies […]
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Riyadh Summit 2017: Website Launched for Upcoming Events Connected to President Trump’s Visit to Saudi Arabia
- May 16,2017
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- SUSTG Team
A website has been launched detailing the events connected to the arrival of President Donald Trump to Riyadh, Saudi Arabia, his first visit abroad as President. The ‘Riyadh Summit 17′ is a series of events over two days to highlight U.S.-Saudi and Islamic relations. The website URL is https://www.riyadhsummit2017.org/. “The Kingdom of Saudi Arabia welcomes President […]
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Trump’s First Foreign Trip as President is to Saudi Arabia
- May 5,2017
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- SUSTG Team
President Donald Trump will visit Saudi Arabia as his first foreign trip since taking office, a sign of the Kingdom’s importance as an ally and trading partner to the United States. The trip will also include visits to Israel and the Vatican, meaning that Trump will be visiting the spiritual centers of Islam, Judaism and […]
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‘Frankly, Saudi Arabia has Not Treated Us Fairly’, Trump Threatens Reset with Old Election Talking Point
- April 28,2017
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- SUSTG Team
After the visit of Deputy Crown Prince Mohammed bin Salman to the White House last month, a top advisor to the prince released a statement praising “a historical turning point” in U.S.-Saudi relations. The unnamed advisor said that during President Obama, U.S.-Saudi relations underwent “a period of difference of opinion” but that after meeting with President […]
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Saudi Arabia looks to influencers to boost tourism sector
The Saudi Tourism Authority (STA) has signed a memorandum of understanding (MoU) with a national marketing services company to strengthen its efforts to reach target audiences in international markets and solidify the Kingdom’s standing on the global tourism map. The initiative seeks to enhance STA’s database and identify a select group of content creators to engage with during global promotional campaigns in 2025. This step is part of STA’s endeavour to raise awareness of the Kingdom’s unique tourist destinations and highlight cultural, heritage, and natural experiences.
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Saudi Arabia’s FDI Inflows Drop, Setting Up Tough Fourth Quarter
FDI inflows dropped 8% quarter-on-quarter to 18 billion riyals ($4.8 billion) in the three months through September and were also down from a year ago, according to data released Monday by the Saudi General Authority for Statistics. The tally brings inflows to $14.5 billion for the first nine months of 2024. That’s below year-ago levels and just half way to reaching the government’s target of $29 billion in 2024. To meet that goal, Saudi Arabia would need one of its biggest quarterly hauls ever for foreign investment. Saudi Arabia aims to quadruple FDI inflows to $100 billion by 2030 as it seeks to share some of the financial burden of spending on its economic diversification plan. Crown Prince Mohammed Bin Salman’s government also sees foreign expertise as critical to training the local population in new industries like technology and minerals exploration and catalyzing growth in those sectors.
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Rock art in Saudi Arabia’s Harrat is testament to ancient life, cultural exchange
The Harrat region, south of Tabuk, is a treasure trove of ancient history, boasting a remarkable collection of rock art that provides a fascinating glimpse into past civilizations, according to the Saudi Press Agency report. The rugged volcanic landscape served as a canvas for ancient inhabitants, who expressed their beliefs, experiences, and social interactions through intricate engravings and paintings. Depictions of hunting scenes, made using simple tools, offer a window into the daily lives of the early inhabitants of these areas, the SPA report noted. Rock art also provides a record of the fauna that once lived in the region, including oryx, gazelles, and even tigers.
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Saudi Arabia’s $800B investment to build human connections
During an interview at The Phocuswright Conference, Hazim Al-Hazmi, president of Americas & Europe markets for the Saudi Tourism Authority, discussed the importance of authentic experiences and Saudi's ambitious plans with Siew Hoon Yeoh, founder of WIT and editorial director, Northstar Travel Group Asia. Key projects include infrastructural developments, new airports and hotels and focusing on the Red Sea as a top sun and sea destination. “This year, we launched four resorts that were announced, two, three years ago. Next year, we have 16 more that will be operational and bookable,” he said. Al-Hazmi highlighted the importance of “authenticity and personalization” in creating unique travel experiences and the need to improve storytelling.
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Saudi Arabia strongly condemns Israeli settlers for storming Al-Aqsa Mosque courtyards
Saudi Arabia strongly condemned on Sunday Israeli settlers for storming the courtyards of Al-Aqsa Mosque in Jerusalem. In a statement, the Ministry of Foreign Affairs expressed Saudi Arabia's strongest condemnation of the storming of Al-Aqsa Mosque courtyards by Israeli settlers, carried out under the protection of police and occupation forces. The ministry reiterated its denunciation of the continued blatant violations of international law and the repeated brutal attacks on the sanctity of Al-Aqsa Mosque.
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Giga-projects fueling real estate boom in Saudi Arabia
“Saudi Arabia’s policy reforms and investment under Vision 2030 have transformed the Kingdom’s real estate landscape, making it one of the most dynamic markets in the region,” said Tarek Lotfy, president of Mercer in India, Middle East, and Africa, in an interview with Arab News. He emphasized that these reforms have accelerated the sector by aligning with broader initiatives to increase homeownership, improve livability, and attract foreign investments. This has been achieved through eased ownership regulations and the creation of Special Economic Zones. According to Sally Menassa, partner at Arthur D. Little Middle East, these reforms have included “easing foreign ownership restrictions, enhancing transparency in real estate transactions, introducing incentives for green building practices, and establishing a national framework for smart city development.”
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Number of factories in Saudi Arabia crosses 12,000: Alkhorayef
The number of factories in Saudi Arabia has surpassed 12,000, reflecting significant investments driven by strong demand and stability, particularly in local content, Minister of Industry and Mineral Resources Bandar Alkhorayef said. In an interview with Al Ekhbariya, Alkhorayef emphasized that Saudi factories are highly competitive, leveraging advanced technology and automation, along with adopting the Fourth Industrial Revolution.
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Saudi Arabia’s final IPO for 2024 – AlMoosa Health – rakes in 408.7% retail over-subscription
Saudi Arabia's stock market has closed 2024 on a high, going by the response the final offering has garnered. The retail subscription for AlMoosa Health pulled in 395,986 investors subscribing at SR127 a share - and generating a retail tranche oversubscription of a substantial 408.71%. The total retail demand came to SR1.4 billion. The retail tranche had 2.66 million shares, or 20% of the total offer size. This is the second IPO from a Saudi healthcare company this year. (The Dr. Soliman Abdel Kader Fakeeh Hospital Co. was the earlier one.)
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Al-Sharaa Says Saudi Arabia Has Major Role In Syria’s Future
Al-Sharaa is Syria’s de facto leader until March 1, when Syria’s different factions are set to hold a political dialogue to determine the country’s political future and establish a transitional government that brings the divided country together. There, he said, Hayat Tahrir Al-Sham will dissolve after years of being the country’s most dominant militant group that held a strategic enclave in the country’s northwest. He also expressed hope that the administration of US president-elect Donald Trump would lift sanctions on his country after Bashar Assad’s ouster.
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Saudi: Al Battal Factory to commence trading on Nomu year-end
Al Battal Factory for Chemical Industries Company is set to begin the listing and trading of its shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul) on Tuesday, 31 December 2024. The Saudi firm will float 20.09% of its shares under the symbol 9623, according to a bourse disclosure. Tadawul highlighted that the stock will be trading at daily and static price fluctuation limits of +/- 30% and +/- 10%, respectively.
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