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Recent stories from sustg
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Premiere League Set to Give Saudi Green Light for Newcastle Takeover
Saudi Arabia’s PIF has cleared a significant hurdle in its quest to acquire a reported 80 percent stake in Newcastle United, according to reports.
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Saudi Arabia’s Tadawul Likely to End 2021 With 30 New Listings This Year – CMA Head
Saudi Arabia’s stock exchange will likely end the year with more than 30 new listings as the Kingdom’s IPO bonanza in 2021 continues, according to comments from the Kingdom’s head of its Capital Markets Authority Mohammed El-Kuwaiz. El-Kuwaiz made the comments on Monday at a conference in Riyadh, according to Reuters.
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Crown Prince Launches Major Education Reform with ‘Human Capability Development Program’
Saudi Arabia is set to undertake a top-to-bottom overhaul of the Kingdom’s education system to better prepare citizens to find jobs and tackle intolerance, according to an announcement on the Vision 2030 website and other reports.
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Non-Oil Sector in Saudi Arabia Loses Some Steam in Latest Figures as Kingdom’s Economy Continues to Grow
Saudi Arabia’s economy posted a 1.8% annual growth figure for the second quarter but the non-oil sector lost steam, according to official gross domestic product (GDP) estimates shared in a Reuters report on Monday.
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Bloomberg Report: Saudi Arabia Continues to Combat Pandemic with ‘World’s Toughest Rules’
Since the start of the global pandemic last year, Saudi Arabia’s authorities and leadership have implemented progressive policies to help the Kingdom mitigate the spread of the Coronavirus within its borders. From imposing strict fines for individuals and businesses who flaunt rules on mask mandates and distancing requirements to shutting down international travel, and even all but cancelling […]
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Saudi Economy: Jadwa Investment Revises 2021 GDP Forecast Upward as Activity Rises
With both oil and non-oil economic activity in Saudi Arabia growing as the Kingdom’s economy bounces back from the pandemic, Riyadh-based Jadwa Investment said in a research note that it will upgrade Saudi Arabia’s 2021 forecasted GDP.
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Saudi Arabia’s Public Investment Fund Raises Stake in California-Based Activision Blizzard Inc.
Saudi Arabia’s Public Investment Fund (PIF) significantly increased its stake in California-based entertainment and games company Activision Blizzard Inc. last quarter, buying 37.9 million shares with a market value of $3.6 billion, according to Bloomberg.
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Saudi Arabia Suspends Privatization of the $2 Billion Ras Al Khair Desalination and Power Plant – Reports
Saudi Arabia has suspended the privatization plans for the Ras Al Khair desalination and power plant, valued at an estimated $2 billion, according to reports.
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Uncertainty Inside OPEC+ Causes Oil Price Flux
Oil prices continued to see increased volatility as traders attempt to understand how the Saudi-UAE chasm on production might affect supply in the coming months, according to reports.
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Prince Khaled bin Salman Visits Washington for High-Level Talks with Biden Administration; U.S. Talks with Saudi on Oil
Saudi Arabia’s deputy defense minister and former ambassador to the United States Prince Khaled bin Salman on Tuesday became the highest-ranking Saudi envoy to visit Washington since Joe Biden became president in January, Reuters reports. The prince represented the Kingdom in talks with senior Biden officials on the Yemen war and threats from Iran.
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MUST-READS
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Saudi FM slams Israel’s ‘barbaric practices’ against ‘defenseless’ Palestinian civilians
Prince Faisal urged the UN to recognize Palestine as a full member, saying: “We welcome the adoption by the General Assembly on May 10, 2024, of a resolution that states that the state of Palestine fulfills all the conditions to become a fully fledged member state of our organization, and we welcome the decision of Norway, Spain, Ireland, Slovenia and Armenia, who have recognized the brotherly country of Palestine.”
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Huge fire ravages one of Jeddah’s largest markets
A devastating fire has ravaged large parts of Jeddah International Market, one of the largest markets in the governorate. Two firefighters died while performing their duties to extinguish the fire at the famous market, which broke out at 6 a.m. on Sunday, according to the Civil Defense. More than 20 firefighting units were pressed into service to contain the rapidly spreading flames as the market in the Al-Rawdah district was partially engulfed in smoke.
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Saudi National Orchestra dazzles London with a breathtaking concert at Westminster Hall
In a night filled with grandeur and cultural resonance, the Saudi National Orchestra and Choir performed to a full house at Westminster Hall in London, marking a momentous occasion for Saudi music on the international stage. Organized by the Saudi Music Commission, the concert, titled Marvels of Saudi Orchestra, was the grand finale of the orchestra’s London tour before heading to its next destination, Tokyo. This event is part of Saudi Arabia's broader efforts to elevate the global presence of its cultural and artistic talents.
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Foreign Minister Delivers Saudi Arabia’s Speech at the 79th Session of the UN General Assembly
Our world today is witnessing many crises exacerbated by the satisfaction of managing them without finding practical solutions to address them. This is due to the laxity of practical international efforts and selectivity in implementing international law and international humanitarian law. This has resulted in the expansion of the circle of violence and conflicts and the threat to the principles of international legitimacy. This requires us to adhere to the principles and foundations set by the United Nations Charter, work together, and focus on long-term peaceful solutions that ensure the protection of civilians, end fighting and wars, and provide security and development regionally and internationally.
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Saudi Arabia sees 656% surge in leisure tourism in 2024
The most notable development is a 656% increase in tourists arriving for entertainment and holiday purposes. The ministry highlighted that 4.2 million tourists visited for these reasons in the first seven months of 2024, reflecting a 25% rise from the previous year and a significant leap from pre-pandemic levels in 2019.
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Saudi companies secure $3.2bln funding for 5.5GW solar projects
A consortium comprising Saudi-listed ACWA Power, the Water and Electricity Holding Company (Badeel), a wholly owned company of PIF and Saudi Aramco Power Company (SAPCO), a wholly owned unit of Aramco, has secured financial close on 5.5 gigawatt (GW) solar PV projects worth 12 billion Saudi riyals ($3.2 billion).
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Aster DM Gulf unit explores $250m Saudi expansion
The UAE-based hospital chain Aster DM Healthcare’s Gulf unit is exploring acquisitions worth $250 million to expand its presence in Saudi Arabia. The deals will focus on medical centres and hospitals, Bloomberg reported, quoting Alisha Moopen, managing director and group CEO of Aster’s Gulf Cooperation Council unit. These deals will be finalised in the next three to five years, she said.
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Commentary: Nasrallah’s death is a wake-up call for the Arab world
This pattern of inaction extends beyond Hezbollah. In the broader Arab world, there is a growing awareness that Iran’s promises of “resistance” have only deepened regional instability, resulting in endless cycles of conflict and devastation, particularly in Lebanon, Syria and Yemen. Nasrallah’s incendiary speeches painted a picture of eventual triumph over Israel, but on the ground Hezbollah’s actions yielded little progress in the Palestinian cause, only further isolating Lebanon in its perpetual state of conflict.
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Saudi executes 198 in 2024, most in over 30 years: AFP
The latest tally surpassed its previous highs of 196 in 2022 and 192 in 1995, according to the London-based human rights group, which began recording the annual data in 1990. The 198 executions this year compare with 170 in 2023, according to tallies compiled by AFP from official media reports.
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Commentary: A view from Israel – Pezeshkian’s Israel stance could undermine his domestic priorities and nuclear diplomacy
Masoud Pezeshkian’s victory in Iran’s July presidential elections gained little attention or enthusiasm in Israel. The elections took place amid the Israel-Hamas war in Gaza following the Hamas-led attack on Israel on 7 October attack last year. It is Israel’s longest war. Israel has also been involved in a simultaneous war against Hezbollah, which started after the latter’s unilateral attack on 8 October and has escalated significantly in recent weeks. These conflicts, coupled with the ongoing hostage crisis, have taken up most of the news cycle in Israel.
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