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Saudi-led Intervention in Yemen to Restore Hadi Continues into 10th Month with ‘Different Objectives’
- January 19,2016
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- SUSTG Team
The Saudi-led intervention in Yemen continues into its 10th month of fighting with some gains but no decisive victory for the coalition seeking to restore power to the UN-recognized Hadi government and oust control of parts of the country from Houthi militia members. The coalition has retaken Aden, Yemen’s southern port, and according to Saudi […]
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Saudi Arabia’ Deputy Crown Prince Mohammed bin Salman Gives His First On-the-Record Interview
- January 8,2016
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- SUSTG Team
Saudi Arabia’s Deputy Crown Prince and defense minister Mohammad bin Salman spoke to The Economist on January 4th in his first on-the-record interview. [Full transcript of the interview available here] [Economist leader here] The interview touched on a wide range of subjects with the son of King Salman, beginning with 7 questions on Saudi Arabia’s […]
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GE secures $1b contract to produce gas and steam turbines to power more than 500,000 homes in Saudi Arabia
- January 4,2016
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- SUSTG Team
GE has been awarded what the company called a “landmark contract” with Saudi Arabia valued at nearly US$1 billion for the engineering, construction and provision of gas turbine services for the Waad Al Shamal combined cycle power plant of Saudi Electricity Company (SEC). The plant, scheduled for completion in 4 years, will support the phosphate mining […]
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Saudi-Turkey Ties Grow with Erdogan Visit, Agree to Form ‘Strategic Cooperation Council’
- December 30,2015
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- SUSTG Team
Turkish President Recep Tayyip Erdogan visited Saudi Arabia this week to meet with top Saudi officials to discuss security and energy cooperation. Erdogan said his government and Saudi Arabia are working “in solidarity and consultation” to find a political solution for Syria, as both countries push for an agreement that would remove Assad from power, […]
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An ‘Islamic NATO?’ Recently Formed Defense Coalition Faces Challenges in Fighting Extremism
- December 22,2015
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- SUSTG Team
Writing in Al Monitor, Washington-based analyst Fahad Nazer comments that Saudi Arabia may be aiming to form an Islamic NATO of sorts, in part because of the turmoil and instability surrounding the Kingdom from virtually all sides. Saudi Arabia’s government sees a more active foreign policy as essential, especially in the absence of a physical American presence in the region. “For much of […]
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‘Major Economic Shake-Up’ In the Works for Saudi Arabia
- December 21,2015
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- SUSTG Team
Saudi Arabia’s deputy crown prince Mohammed bin Salman, Minister of Defense and chair of the powerful Council of Economic and Development Affairs, is planning a major economic shake-up that involves “plans to reshape the economy to withstand low oil prices,” sources told Reuters privately. The strategy includes state spending reforms and privatizations. Bloomberg reports that Saudi officials […]
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Saudi Arabia Extends Financial Support of Egypt, Despite Fiscal Strains at Home
- December 17,2015
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- SUSTG Team
Saudi Arabia has extended its financial support of the Egyptian government to an added $8 billion in 5 years, along with energy concessions and other assistance, despite facing a budget crunch at home. The announcement followed a meeting between Deputy Crown Prince Muhammad Bin Salman, Second Deputy Premier and Minister of Defense, and Egyptian Prime […]
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With Extreme Stance on Muslims, Trump Angers Arab Businessmen, Jeopardizes Global Business Interests
- December 10,2015
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- SUSTG Team
Arab businessmen and Gulf industry leaders are blasting Donald Trump for his extreme views on Muslims, with some of the region’s most powerful men branding Trump “the biggest enemy of Islam” and others eyeing a rethink of ties with the controversial Republican presidential candidate. Trump’s comments are having a very real impact on his business interests in the […]
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All Eyes on Vienna as OPEC’s 168th Meeting Marks One Year of Saudi-led Strategy to Squeeze High Cost Producers
- December 1,2015
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- SUSTG Team
The oil-producing nations of OPEC convene in Vienna on Friday, exactly one year since Saudi Arabia took the lead on its strategy to ramp up output to drive out higher-cost producers and secure market share. The results have been a global oil market in a state of persistent oversupply and unexpected resilience from smaller producers. Saudi […]
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‘The key challenges are our overdependence on oil and the way we prepare and spend our budgets’, Saudi Deputy Crown Prince Mohammed bin Salman Says to NYT Columnist Friedman
- November 25,2015
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- SUSTG Team
In an op-ed published today in the New York Times, columnist Tom Friedman discussed his recent visit to Saudi Arabia and the seismic shift in governance in the Kingdom over the last year. The columnist spent an evening with one of the Middle East’s most powerful leaders, Deputy Crown Prince Mohammed bin Salman, and said the […]
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Libya Oil Output at Risk Again Due to Political Power Struggle
Libya’s oil production is in danger of slumping again, as a political power struggle threatens to end a period of relative stability. The standoff comes at an unfortunate time for the North African country, potentially depriving it of substantial revenue as crude trades above $70 a barrel. It could also prove tricky for the global oil market, shutting some Libyan production right after Hurricane Ida halted a record amount of U.S. output.
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Saudi Arabia’s ACWA Power launches $1 billion IPO
Saudi Arabian utility developer ACWA Power on Thursday announced its intention to float on the Riyadh bourse in an initial public offering (IPO) sources have said could raise more than $1 billion. The company, which is half-owned by the kingdom's sovereign wealth fund, plans to issue 85.3 million shares, representing 11.67% of the company after a capital increase.
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AFC Asian Qualifiers – Road to Qatar: Second half blitz powers Saudi Arabia past Vietnam
Saudi Arabia bounced back strongly in the second half to beat 10-man Vietnam 3-1 in their opening AFC Asian Qualifiers - Road to Qatar Group B match on Thursday.
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Saudi Arabia’s ACWA Power launches IPO
Saudi Arabian utility developer ACWA Power on Thursday announced its intention to float on the Riyadh bourse in an initial public offering (IPO) sources have said could raise more than $1 billion.
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PIF-Backed ACWA Power to Seek Over $1 Billion in Saudi IPO
While ACWA runs many natural gas-fired power plants, the Saudi government plans to make it the main vehicle for the kingdom’s major solar and green-hydrogen projects. ACWA is part of a consortium, along with U.S.-based AirProducts and Chemicals Inc., developing a $5 billion plant that will export green hydrogen from the new city of Neom. It’s also building a renewable power project for the kingdom’s Red Sea Development Co
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Three firms submit bids for Saudi nuclear power role
Energy & Utilities recently reported that Saudi Arabia’s King Abdullah City for Atomic & Renewable Energy (KA-Care) had received bids from financial consultancy firms just before the Eid break for the transaction advisory role on the kingdom’s first planned large-scale nuclear power project, a two-reactor project planned to have a capacity of 2.8GW
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Saudi Arabia’s Vision 2030 aims to empower the non-profit sector. Here are three areas to focus on.
With its Vision 2030, Saudi Arabia encouraged businesses to participate in its development and to address national challenges—especially in critical sectors, such as health care, education, housing, and cultural and social programs—rather than focusing solely on generating profits. Vision 2030 calls for a more effective third sector for non-profits, among other things.
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How Saudi Arabia’s NEOM aims to be Bollywood’s next powerhouse production partner
Bollywood remains one of the most dynamic film industries globally. Worth an estimated $2.4 billion in 2020, Bollywood produces more films annually than Hollywood, including many produced outside India. Like any filmmaker, Indian producers are always on the lookout for new, fresh locations that provide logistical support and production incentives to give producers a competitive advantage.
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EDF and Masdar deliver first power from Saudi Arabia’s first wind farm
When complete, the project will power up to 70,000 Saudi households, saving nearly one million tonnes of CO₂ per year, according to the developers.
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From Tehran To Tel Aviv: The Middle East Has Some Powerful Air Defenses
Iran recently boasted that its air defenses are the best in the region and among the best in the world. While they have certainly improved greatly over the past decade, other countries in the Middle East also boast some formidable air defenses.
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