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Goldman Sachs Raises Expectations for Saudi Arabia’s Oil Production and Economic Growth – Report
According to a report in Bloomberg, Goldman Sachs Group Inc. raised its expectations for Saudi Arabia’s oil production and economic growth in 2021 as crude prices soared over $70 a barrel this week and pandemic-related lockdowns continued to ease.
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Saudi Arabia’s PIF Leads Investment in Gulf Infrastructure Fund from Aberdeen Standard Investments and Investcorp
Saudi Arabia’s Public Investment Fund (PIF) has emerged as the lead investor in a planned $800 million Middle East infrastructure fund being established by Aberdeen Standard Investments and Investcorp, Bloomberg reports, citing a statement.
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Flurry of New Deals Builds on Early 2021 Momentum for Saudi Venture Capital
Saudi Arabia’s venture capital scene continues to grow at an impressive clip as new deals and investments into Saudi companies – or by Saudi venture firms – builds on early growth so far in 2021.
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OPEC+ Believes Glut Created with Pandemic ‘Nearly Gone’, Sees Stockpiles Diminishing Rapidly in 2021 – Report
The so-called OPEC+ coalition of oil-producing nations lead by Saudi Arabia and Russia is “expecting world oil markets to get acutely tight” in 2021, a year after taking the unprecedented steps of slashing production in the face of weak demand created by the Coronavirus pandemic, Bloomberg reports.
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With PIF Backing, Saudi Ports Behemoth Red Sea Gateway Terminal Looks for Big Investments Abroad
The operator of Saudi Arabia’s Red Sea Gateway Terminal (RGST) is looking to invest in ports in Africa and the Middle East, following backing from the Kingdom’s sovereign wealth fund (PIF), Bloomberg reports.
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Saudi Arabia’s Ultra-Lux Amaala Resort May Raise Up to $2.7 Billion Next Year
Saudi Arabia’s ultra-luxury Amaala tourism project may raise up to 10 billion riyals ($2.7 billion) in 2022, the CEO of the company, John Pagano said in an interview on the sidelines of Arabian Travel Market in Dubai.
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Saudi Arabia’s Public Investment Fund Reportedly Eyes IPO for Security Company Elm
Elm, the digital security firm owned by Saudi Arabia’s Public Investment Fund (PIF), is exploring a roughly $2 billion initial public offering (IPO), Bloomberg reports.
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‘Rapid Radical Reduction’ in Solar PV Price a Massive Opportunity for Saudi Renewables
A significant and unforeseen drop in the cost to produce solar energy in recent years may enable Saudi Arabia to turbocharge its ambitions to diversify its economy and free up more oil for exports, as the Kingdom continues ahead with the development of several solar installations.
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Saudi Arabia Red Sea Development Co. On Track to Clinch $3.7 ‘Green Loan’ from Local Banks
Saudi Arabia could be just weeks away from clinching the first significant funding package for a key part of Crown Prince Mohammed bin Salman’s program to diversify the Kingdom’s economy, Bloomberg reports. The Red Sea Development Co.’s 14 billion-riyal ($3.7 billion) loan is set to close with a small group of local banks including Saudi National […]
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KAPSARC Commentary Paper Explores the Potential Effect of Parking Fees on Metro Ridership
As Saudi Arabia’s sprawling capital city Riyadh prepares to begin operation of the first lines of its long-awaited metro system, authorities and researchers are now faced with the task of getting the Kingdom’s citizens used to riding it.
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MUST-READS
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A grand US-Saudi bargain? The cost of ties with Israel
At this point, the Kingdom is not desperate to achieve any reputational improvement in the US capital. A host of international developments related to the Russian invasion of Ukraine, global energy and food security crises, and Sudan’s conflict have reinforced the centrality of Saudi Arabia’s international role in the domains of energy, diplomacy, and so on.
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How are consumers and agencies changing in Saudi Arabia?
Clients in Saudi Arabia are embracing digital transformation and looking for innovative technological solutions. This leads to demand for advanced digital platforms, mobile applications, e-commerce solutions and online service delivery. Additionally, clients are interested in emerging technologies such as AI, blockchain, and the Internet of Things (IoT) to enhance their daily lives and business operations.
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Aid to Syria’s Rebel-Held Northwest to Continue — But for How Long?
The delivery of humanitarian aid to Syria's rebel-held northwest from neighboring Turkey is virtually certain to get a green light to continue from the United Nations Security Council — but the big question is for how long. The council's current authorization for aid deliveries through the Bab al-Hawa crossing is set to expire Monday, but the council has two rival extension resolutions before it to vote on. A Russian resolution would continue aid deliveries for six months and a Brazil-Switzerland resolution backed by most council members and Secretary-General Antonio Guterres would authorize a 12-month extension.
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What lessons can Saudi Arabia learn from the collapse of the Saudi Pro League?
The aim of the nation was to become the leading force in the world of football by the year 2050, with the country possessing the resources to do so. A very ambitious plan contained goals such as reaching a World Cup, hosting the tournament and also win the competition.
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The Gulf Goes Green: Can the Fossil Fuel Giants Lead the Energy Transition?
By investing at home and abroad in clean energy, the Gulf states assert that they are trying to do well by doing good. But their primary aim is a return on investment, either financially or in terms of political access and influence. In all cases, their own security and economic interests come first. When those interests conflict with global goals relating to climate change or the needs of other countries, the Gulf states, like states everywhere, will look to protect themselves.
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Can Kuwait Grasp the Dorra Gas Pearl?
Al Durra means “the pearl” in Arabic – but from Kuwait’s point of view, it is a pearl glinting at the bottom of the sea, tantalizingly out of reach. The large Al Durra, or Dorra, gas field lies in the Gulf between Kuwait, Saudi Arabia, and Iran. Recent pronouncements and claims – including the March Saudi-Iranian agreement to normalize diplomatic ties – raise again the controversial question of who will grasp this treasure.
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From Boom To Gloom? Saudi Arabia’s Economy Dips Due To Voluntary Oil Cuts
The world's largest crude oil exporter, Saudi Arabia, is paying the economic price of its oil production cuts, especially if oil prices fail to rise materially in the second half of this year. Saudi Arabia's efforts to prop up oil prices with large production cuts will slow down its economy, which could even shrink this year and become one of the worst performers among G20, from the fastest-growing economy in this group last year, analysts say.
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Yemen: Saudi Arabia preparing to exit costly war?
The fractured political landscape in Yemen, long under the influence of regional powers, could soon become even more complicated. According to the Yemen Press Agency, the first Saudi-backed administrative council opened in the region of Hadramawt in June, and the second such council is planned for later this month in the port city of Aden. Once in place, these Saudi-backed bodies are set to foster the idea of a united Yemen — in stark contrast to the United Arab Emirates-backed Southern Transitional Council and its quest for secession from the rest of the country.
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Saudi Arabia transfer roundup: Who’s been signed, and who could be next?
The Saudi Pro League has upended the transfer market. Bankrolled by the endless riches of the Public Investment Fund (PIF), the kingdom's sovereign wealth fund that manages some $700 billion in government money, Saudi Arabia has attracted some of world football's biggest stars. The arrival of Cristiano Ronaldo in December opened the floodgates, starting a trend that has evolved into arguably the biggest ongoing story of the summer window. Here's a look at who's already made the lucrative switch to the Middle East and who could be next in line to bolster their bank account.
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A Saudi-American Alliance?
A complicating factor here is the oft-mentioned U.S. “fatigue” with wars in the Middle East, which has contributed to reports of the American public’s aversion to any further military involvement in the region. This fatigue actually confuses the historical U.S. role of upholding regional security with the more recent misfortunes the U.S. has inflicted upon itself.
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