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Saudi Arabia Aims for over 1000% Increase in Entertainment Sector Employment this Year as Massive Investment Planned
- February 22,2018
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- SUSTG Team
Saudi Arabia is betting big on the entertainment sector to boost job creation and provide for a more vibrant society with a whopping $64 billion planned to spend in the next decade, according to the head of the General Entertainment Authority Ahmed Al-Khatib. Al-Khatib said that the investment and development is already underway, and that the […]
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Russian, Chinese Interests ‘Eager’ to Invest in Saudi Aramco IPO as Cooperation Heats Up
- February 14,2018
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- SUSTG Team
The head of the Russian Direct Investment Fund (RDIF) said in Riyadh today there is “significant interest” to invest in the forthcoming Aramco IPO from Russia and from China, according to reports. Several banks and other groups in Russia are interested in investing in shares of Aramco, according to Bloomberg, which reported comments from Kirill Dmitriev, chief […]
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Saudi Embassy Spokeswoman: ‘The Kingdom is not Easternizing or Westernizing, it’s Modernizing’
- February 6,2018
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- SUSTG Team
The first spokeswoman for the Royal Embassy of Saudi Arabia, Fatimah Baeshen, said in an interview that the Kingdom is not sacrificing culture or values with its Vision 2030 economic and social reform program and that the program has “something for everyone” in Saudi Arabia. The well-spoken Baeshen, who was appointed by Saudi Arabia’s Ambassador to the […]
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Saudi Arabia’s King Salman Orders $2b ‘Deposit’ to Yemen to Shore Up Currency
- January 18,2018
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- SUSTG Team
Saudi Arabia’s King Salman ordered a $2 billion transfer to the Yemeni central bank, according to reports, as the Kingdom looks to shore up the economy of its war-torn southern neighbor. The Saudi Ministry of Culture and Information (MoCI) said in a statement that the money is meant “to address the deteriorating economic situation” in Yemen. “All […]
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U.S. to Ramp Up Crude Oil Production by 10% in 2018
- January 4,2018
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- SUSTG Team
The United States is poised to ramp up crude oil production by 10% in 2018 to about 11 million barrels per day, research firm Rystad Energy has said, which would make the U.S. the world’s largest producer. The expected surge in shale oil output “should allow the United States to dethrone Russia and Saudi Arabia as […]
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Two Top Officials in Crackdown Sweep Return to Public Eye
- January 2,2018
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- SUSTG Team
Two top officials detained in last year’s crackdown on corruption in Saudi Arabia have returned to the public eye following settlement payments, according to reports. Prince Miteb bin Abdullah, former head of the Saudi national guard and son of the late King Abdullah, was photographed alongside Crown Prince Mohammed bin Salman at a horse race […]
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‘Largest Ever’ Budgeted Expenditure for Saudi Arabia in 2018 as Kingdom Looks to Propel Growth
- December 20,2017
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- SUSTG Team
Government officials unveiled Saudi Arabia’s largest budgeted expenditure ever as the Kingdom looks to propel economic growth following two years of reduced spending. Compared to previous years, the budget is expansionary. Saudi Arabia will spend SR88 billion ($23.5 billion) more in 2018 compared with 2017. The announcement was made at a press conference at which Finance Minister Mohammed […]
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Nearly $20b in Stimulus for Saudi Economy in 2018
- December 14,2017
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- SUSTG Team
Saudi Arabia has unveiled a stimulus package to begin next year with money to support housing construction as well as fee waivers for small businesses. Saudi Arabia’s King Salman issued a royal decree approving 72 billion riyals ($19.2 billion) worth of measures to stimulate growth in the private sector next year (2018), and 200 billion […]
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Westinghouse in Talks with Other U.S. Companies to Bid for Saudi Nuclear Opportunities, Reuters Reports
- November 21,2017
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- SUSTG Team
An exclusive Reuters report reveals that Westinghouse is in talks with other U.S-based companies to form a consortium to bid in a multi-billion-dollar tender for two nuclear power reactors in Saudi Arabia, citing three industry sources. If the consortium forms and bids, it would have stiff international competition in countries like South Korea, France, and Russia, who […]
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UK Government Agrees to $2b Loan Guarantee For Saudi Aramco
- November 9,2017
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- SUSTG Team
The U.K. government agreed to a $2 billion loan guarantee for Saudi Aramco as competition to host the likely largest in history IPO heats up, according to Bloomberg. “The unusually large export credit guarantee, designed to finance the purchase of British goods, will be seen by many as an attempt to help woo the IPO to the […]
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MBS in ChinaIN PICTURES: Saudi Crown Prince Mohammed bin Salman tours Great Wall of China
Saudi Crown Prince Mohammed bin Salman was seen touring the Great Wall of China on the first day of his official trip to Beijing. Accompanying the Crown Prince on the tour was the Chinese ambassador to Saudi Arabia, alongside a number of other government officials.
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Saudi-RussiaRussia’s Sibur Revives Project Plans in China, Saudi Arabia
In Saudi Arabia, energy giant Saudi Aramco started talks with Sibur in 2017 on plans for a synthetic-rubber plant in the kingdom as part of its strategy to expand in petrochemicals. Like the Chinese project, the Saudi facility would start up in 2023 to 2025, Konov said.
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Saudi-ChinaSaudi Arabia strikes $10 billion China deal, talks de-radicalization with Xi
Saudi Crown Prince Mohammed bin Salman cemented a $10 billion deal for a refining and petrochemical complex in China on Friday, meeting Chinese President Xi Jinping who urged joint efforts to counter extremism and terror.
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China in the RegionAhead of Saudi visit, China seeks ‘deeper trust’ with Iran
China wants to deepen “strategic trust” with Iran, the Chinese government’s top diplomat told Iran’s foreign minister on Tuesday, days before Saudi Arabia’s crown prince visits Beijing, underscoring China’s difficult Middle East balancing act.
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DronesChina is Flooding the Middle East With Cheap Drones
Particularly in the Middle East, the drone became the symbol of the U.S. empire operating in a legal vacuum. In the first decade and a half of the “War on Terror,” the U.S. still had a virtual monopoly on the risk-free execution from thousands of meters above — but once the genie is out of the bottle, every attempt to squeeze it back in is notoriously doomed to failure.
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China in the RegionThe Gulf’s eastward turn: The logic of Gulf-China economic ties
China and the Arab Gulf states share a model and vision of economic development that is state centered and profitable to state-owned enterprises and financial institutions.
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Saudi-ChinaSaudi crown prince to visit China
Saudi Crown Prince Mohammed bin Salman will visit China next week, Beijing's foreign ministry said on Friday (Feb 15), as part of a swing through Asia in which the monarch is expected to sign an investment package with cash-strapped Pakistan.
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China in the RegionCommentary: Will China Replace The U.S. As The Middle East Hegemon?
Belt and Road, proclaimed by Chairman Xi Jinping in 2013, involves over 80 countries in Eurasia, Europe, South and Southeast Asia, the Middle East and Africa. Middle East energy will be the lifeblood of BRI, with China its engine and brain. Western Europe and the developing world will be its market.
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China in the RegionPerspective: The US Needs a Real Plan to Counter China in Africa
The example of Djibouti is a case in point. China has resorted to bribes, intimidation, and legal chicanery to displace U.S. allies and seize control of one of the world’s most strategic nodes of transport.
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China in the RegionNew Dynamics in China-Iran Trade Under Sanctions
Chinese exports to Iran have collapsed from about USD 1.2 billion in October 2018 to just USD 391 million in December 2018—a fall of nearly 70 percent.
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