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Recent stories from sustg
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Saudi Civil Aviation Authority Chief Replaced as Kingdom Set to Reopen International Flights on May 17
- March 12,2021
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- SUSTG Team
Saudi Arabia’s civil aviation authority said the Kingdom will resume international flights on May 17 after they have been earlier suspended due to coronavirus travel restrictions, according to reports citing a circular.
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Saudi Arabia is Improving its Air Defenses Against Missile Attacks
- March 11,2021
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- SUSTG Team
Saudi Arabia’s air defenses “appear to be coping better with long-range attacks on the kingdom,” defense and security publication IHS Jane’s said, as Saudi Arabia continues to fend off cross-border attacks from Yemen’s Iran-backed Houthis.
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Saudi Arabia Now the ‘Top Theatrical Market in the Middle East’ and is now a ‘Major Driver for Arabic Film Production’ – Variety
- March 5,2021
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- SUSTG Team
Saudi Arabia’s historic re-opening of cinemas three years ago was the start of a major cinema and film boom in the Kingdom, making the Kingdom “the top theatrical market in the Middle East and is turning into a major driver for Arabic film production,” a top Hollywood publication reports.
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U.S. Secretary of State Blinken, Saudi FM Discuss Yemen Cooperation by Phone; State Department Condemns Houthi Attacks
- February 11,2021
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- SUSTG Team
U.S. Secretary of State Antony Blinken discussed diplomatic efforts to end the war in Yemen and bolstering Saudi Arabia’s defenses in a call with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud on Wednesday, the U.S. State Department said.
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Rare Rain Challenges Golfers on Second Day of Saudi International at KAEC
- February 5,2021
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- SUSTG Team
It only rains an average of 6 days a year at the King Abdullah Economic City near Jeddah, Saudi Arabia, but tour professionals visiting the Kingdom for the Saudi International powered by SoftBank Investment Advisers had to deal with on-and-off showers on day two in their battle to advance up the leaderboard.
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Report: U.S. Exploring New Bases, Access in Saudi Arabia to Counter Iran Threat
- January 26,2021
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- SUSTG Team
The U.S. military is “exploring the possibility of using a Red Sea port in Saudi Arabia and an additional two airfields in the kingdom” amid heightened tensions with Iran, the military said Tuesday, part of a preliminary agreement reached between the U.S. and Riyadh, according to several reports.
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Saudi Arabia’s Public Investment Fund Launches 5-Year Strategy, Including VRP Program for 2021-2025
- January 25,2021
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) announced a new five-year investment strategy, including its own Vision Realization Program (VRP) 2021-2025, with the goal of doubling its assets to 4 trillion riyals ($1.07 trillion) by 2025, according to comments made by Crown Prince Mohammed bin Salman in a public appearance on Sunday.
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Saudi Arabia’s New Open Banking Policy to Turbocharge Digital Innovation
- January 15,2021
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- SUSTG Team
Saudi Arabia’s central bank, the Saudi Arabian Monetary Authority (SAMA), is introducing an open banking policy to advance digital innovation in the financial services sector, the body announced this week.
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Energy Minister Prince Abdulaziz bin Salman: New Saudi Cut Is ‘Commercial Choice, Not Political’
- January 7,2021
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- SUSTG Team
Saudi Arabia’s energy minister Prince Abdulaziz bin Salman called this week’s surprise oil output cut for February and March a “wonderful present” for the oil industry and will affect both domestic sales and exports, and said that the choice for a cut was commercial and not political.
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Saudi-led Coalition Strikes Targets in Yemen after Aden Airport Attacked
- December 31,2020
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- SUSTG Team
Saudi-led coalition warplanes struck targets in Yemen’s Houthi-held capital Sanaa on Thursday in retaliation for attacks in the southern port city of Aden the previous day, including at the airport which killed at least 25, according to reports. The attacks at the Aden airport on Wednesday took place as officials in a government backed by […]
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Saudi Aramco VC arm invests in Chinese medical robot startup
Prosperity7 Ventures, the venture capital arm of Saudi Aramco, has invested in Chinese medical rehabilitation robot firm Fourier Intelligence as part of the startup’s Series C+ funding round. “All proceeds will go towards global market expansion and technological development, furthering the company’s mission to provide intelligent rehabilitation technologies to empower clinicians and neurological patients,” the Chinese company said in a Linkedin post.
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Saudi Aramco drops Morgan Stanley on gas pipelines deal -sources
Saudi Aramco has dropped Morgan Stanley (MS.N) as an adviser for the sale of its gas pipelines and picked JPMorgan (JPM.N) and Goldman Sachs (GS.N) for the role, three sources familiar with matter said. JPMorgan had also advised Aramco on the sale of the oil pipeline business, which was sold to a consortium led by Washington-DC based EIG Global Energy Partners for $12.4 billion
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Saudi Aramco to Sell More Assets in Multi-Billion Dollar Push
The sales will continue in the next few years, according to Abdulaziz Al Gudaimi, senior vice president for corporate development. They will happen “irrespective of any market conditions” and Aramco aims to generate “double-digit billions of dollars,” Al Gudaimi said in an interview. “It’s a strategy meant to create value and create efficiency, it’s not about a specific capital target or financing the dividends of the company.”
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Saudi Aramco Sees A Major Market Forming For Hydrogen
There are already plenty of industries that rely on burning hydrogen and have done so for years, but that doesn’t make them clean, because hydrogen is only as green as the energy that is used to make it.
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Saudi Aramco seeks financing advisor for gas pipeline deal – sources
Saudi Aramco (2222.SE) has invited banks to pitch for an advisory role to help finance the sale of a significant minority stake in its gas pipelines, the oil giant's second major midstream deal after a $12.4 billion deal for oil pipelines, three sources said. Aramco has already hired Morgan Stanley (MS.N) as an M&A advisor and the financing advisory role is up for grabs among banks, two of the sources said.
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Saudi Aramco Bets on Blue Hydrogen Exports Ramping Up From 2030
Aramco, the world’s biggest oil company, sent its first shipment of blue ammonia in September to Japan, a pilot project to show the fuel could be exported. Aramco will decide on further shipments depending on the level of demand, Khowaiter said.
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Saudi Aramco chairman Yasir Al-Rumayyan joins Reliance Industries Board
The conglomerate had in August 2019 announced talks for the sale of a 20% stake in the O2C business, which comprises its twin oil refineries at Jamnagar in Gujarat and petrochemical assets, to the world's largest oil exporter. The deal was to conclude by March 2020 but has been delayed for reasons not disclosed by either company.
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Saudi Aramco extends $10 billion loan on improved terms, sources say
Saudi Arabian oil giant Aramco has secured a one-year extension to a $10 billion loan it raised last year, negotiating improved terms in the process, three sources told Reuters.
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Saudi Aramco Completes Sale Of Stake In Pipeline Unit For $12.4 Billion To EIG-Led Consortium
The consortium—which represents a broad section of investors from North America, Asia and the Middle East—also includes United Arab Emirates sovereign wealth fund Mubadala Investment, the Chinese government’s Silk Road Fund and Samsung Asset Management, according to a joint statement issued by Aramco and EIG on Friday.
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Saudi Aramco raises US$6b in debut Islamic bond sale
The sale comes after two previous bond offerings that were not compliant with Islamic law - a debut US$12 billion sale in 2019 and an US$8 billion offering in November last year. The company is raising money to help pay an annual dividend of US$75 billion, a key revenue source for the Saudi government, Aramco's biggest shareholder.
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