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Recent stories from sustg
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Opportunities for Saudi-China Trade: Is Asia the Future for the Kingdom?
As part of the recent visit by Saudi Arabia’s Crown Prince Salman to China, I participated the Saudi-China Investment Forum organized by the Saudi Arabian General Investment Authority (SAGIA). I was honored to receive an invitation to speak, and compared with forums organized inside and out of the Kingdom of Saudi Arabia in 2014, this […]
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President Obama’s Visit to Riyadh: 3 Takeaways from Obama’s Meeting with King Abdullah
President Obama’s recently concluded visit to Riyadh – his second as President – comes at a pivotal time in U.S.-Saudi relations. With the ongoing conflict in Syria and Iran’s nuclear program the big topics discussed between the two leaders, the meeting was an important opportunity for the two old allies to get on the same […]
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Analysis Roundup: President Obama’s Second State Visit to the Kingdom of Saudi Arabia
President Obama’s visit to Saudi Arabia later this week comes at a crucial time in U.S.-Saudi relations and in the context of regional and geopolitical developments.
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KACARE and Saudi Arabia’s Frightening Consumption of Energy
Four years ago, King Abdullah City for Atomic and Renewable Energy (KACARE) was established by a royal decree. Public statements highlighted the numerous nuclear and solar power plants that would be built and entered into production during the next 15 to 20 years. Large sums of money have been paid for advisers and global consulting […]
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The 10 Best SPA Photos This Month – February 2014 Edition
Saudi Arabia’s state-run press agency, the SPA, is a valuable resource. Continuing with our new series on the best photos from the SPA from the previous month, click here to see a slideshow of the best photos from this month’s events. The SPA is similar to the press offices of U.S. and other government offices […]
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Is the Saudi Arabian Economy Productive?
Over the past few years, key macroeconomic indicators point to remarkable breakthroughs by the Saudi Arabian economy. The Kingdom’s economy maintained high GDP growth rates, a budget surplus, growth in the Kingdom’s current account, all while the ratio of public debt to GDP remained minimal. Saudi Arabia’s inflation rate remained low amidst a large influx […]
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Is Saudi Arabia Too Dependent on Management Consultants and Think Tanks?
During the past ten years, major think tanks and global management consulting firms came to different government agencies and ministries in Saudi Arabia to provide them with recommendations and plans in return for huge wages – in the millions of Riyals. This makes me wonder whether these governmental bodies and ministries are managed by those […]
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The 10 Best SPA Photos This Month – January 2014 Edition
For those that follow Saudi news closely, the state-run Saudi Press Agency is a valuable resource. Similar to the press offices of U.S. and other government offices and ministries around the world, the SPA is updated daily, and features local, national and international news from the official feed on its website in Arabic and English. […]
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Saudi Arabia’s Non-Oil Export Figures are Just Numbers on Paper
During the past few weeks, we have heard in statements from Saudi officials that Saudi Arabia’s non-oil exports are increasing. In 2013 alone, the value of Saudi oil exports increased by 6.7%, while non-oil exports increased by 2.4%. From 2003 to 2012, total non-oil exports increased from SAR 350 billion to 1.4 trillion.
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Opinion: Comprehensive Reform of the Labor Market in Saudi Arabia
Besides energy subsidies and the future of energy consumption at the local level, the labor market is considered one of the key variables with respect to the economic future of the kingdom. The labor market should be an integral part of the thinking of government officials when planning at all levels, without exception. The Ministry of […]
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MUST-READS
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IMF projects Saudi Arabia’s oil output to hit 11M bpd by 2029
Saudi Arabia's oil production is expected to reach 11 million barrels per day (bpd) by 2029, according to Amine Mati, the International Monetary Fund’s (IMF) Mission Chief for Saudi Arabia. In an interview with Asharq TV, Mati added that the IMF expects the Organization of the Petroleum Exporting Countries and allied producers (OPEC+) to completely reverse its production cuts by 2025. “Considering the announcements made by OPEC+ and the voluntary production cuts by Saudi Arabia, the cuts will be extended until June 2024,” he said.
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Commentary: Gulf states’ response to Iran-Israel conflict may decide outcome of crisis
Dana Stroul, who until December was the most senior civilian official at the Pentagon with responsibility for the Middle East, insisted: “Whatever regional politicians may say, the military, security and intelligence establishments of both the Arab states and Israel are quite clear – that Iran is the centre of gravity for instability, the export of terrorism and its illicit nuclear weapons programme.”
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Saudi PIF-backed Savvy Games to invest more in mobile after ‘Monopoly Go’ success
After seeing the major success of its mobile game Monopoly Go, Saudi Arabia’s Savvy Games Group plans to invest more in mobile game development and acquisitions, according to the company’s chief executive officer.
Savvy, wholly owned by Saudia Arabia’s Public Investment Fund (PIF), agreed to buy mobile game maker Scopely for $4.9 billion last April, the same month the Monopoly title was released. Since then, the online iteration of the famous board game has grossed $2 billion in revenue.
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Saudi Arabia is making a high-risk $1 trillion bet on tourism
On a clear day in March, tourists in golf carts and jeeps bounce amid dunes and cliffs at Desert X AlUla, a biannual open-air exhibition affiliated with Coachella, the famed California desert arts festival. They gaze at a giant hollow sphere with reflective glass set against a line of rock fragments by Saudi artist Faisal Samra and terra cotta pots scattered on the sand courtesy of Ghanaian Ibrahim Mahama. “We are trying to give them the time of their lives,” says Abdulaziz Alsulami, 18, who recently graduated from an international school in Riyadh and works at the exhibition.
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House passes long-awaited aid for Ukraine, Israel, Indo-Pacific
By large margins on Saturday, the House passed a package of three linked bills advancing $60 billion in military aid for Ukraine, $26 billion in military aid for Israel, and $8 billion for “countering China” in the Pacific.
The measures come at “a moment of grave urgency, with Israel facing unprecedented attacks from Iran, and Ukraine under continued bombardment from Russia,” U.S. President Joe Biden said in a statement. “I urge the Senate to quickly send this package to my desk so that I can sign it into law and we can quickly send weapons and equipment to Ukraine to meet their urgent battlefield needs.” -
UK Launches Saudi Investment Drive to Grab Share of MBS’s Vision
The UK and Saudi Arabia will hold a trade expo in Riyadh next month as Rishi Sunak launches an investment drive aimed at taking advantage of Crown Prince Mohammed bin Salman’s Vision 2030 project. A delegation of more than 300 British business executives will join Deputy Prime Minister Oliver Dowden at the Saudi Great Futures event on May 14-15, according to a statement from Dowden’s office. The event will mark the start of a year-long campaign to showcase UK firms to Saudi investors with a focus on sectors that support the country’s Vision 2030, which was established by bin Salman eight years ago to diversify the economy away from oil.
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Iran says nuclear weapons have no place in its nuclear doctrine
Nuclear weapons have no place in Iran's nuclear doctrine, the country's foreign ministry said on Monday, days after a Revolutionary Guards commander warned that Tehran might change its nuclear policy if pressured by Israeli threats."Iran has repeatedly said its nuclear programme only serves peaceful purposes. Nuclear weapons have no place in our nuclear doctrine," ministry spokesperson Nasser Kanaani said during a press conference in Tehran.
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Egypt reclaims 3,400-year-old stolen statue of King Ramses II
Egypt welcomed home a 3,400-year-old statue depicting the head of King Ramses II after it was stolen and smuggled out of the country more than three decades ago, the country's antiquities ministry said on Sunday.The statue is now in the Egyptian Museum in Cairo but not on display. The artefact will be restored, the ministry said in a statement.The statue was stolen from the Ramses II temple in the ancient city of Abydos in Southern Egypt more than three decades ago. The exact date is not known, but Shaaban Abdel Gawad, who heads Egypt's antiquities repatriation department, said the piece is estimated to have been stolen in the late 1980s or early 1990s.
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Global defense spending jumped in 2023
Total global defense spending grew at its fastest pace in the last decade from 2022 to 2023, as governments respond to security crises unfolding around the world. Combined military outlays jumped 10.4 percent in 2023 on strong growth from nearly all of the top spenders, bringing the global total above $2 trillion for the first time, according to a new report from Forecast International, a sister brand of Defense One.
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Saudi Arabia aims to double local honey production
Saudi Arabia has invested SAR140 million ($37 million) to support its nascent rural honey industry, the government said this week. The country has raised subsidised production by 41 percent since 2021 and wants to double output by 2026. The Sustainable Agricultural Rural Development Program, known as Reef Saudi, said its funding supported over 10,500 people in the industry.
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