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Saudi Arabia Approves $24.5b for Water, Agriculture, and Environment Spending to Meet Vision 2030 Goals
- February 13,2017
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- SUSTG Team
Saudi Arabia has approved $24.5b for water, agriculture, and environment spending to allow government leaders to meet 16 goals set as part of its Vision 2030 development plan, Reuters reports. The figure was stated by Abdulrahman Al-Fadhli, Saudi Arabia’s minister for environment, water and agriculture at a speech at an industry conference in Riyadh. Reuters reports that […]
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“Ken of Arabia” Lands Moelis and Co. as Lead Advisor for Saudi Aramco IPO
- February 9,2017
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- SUSTG Team
Saudi Aramco has chosen New York-based boutique investment bank Moelis & Co as an adviser on its plans for what is expected to be the world’s biggest initial public share offer, Reuters reports. Moelis & Co secured the role of lead independent adviser. The selection is set to move the small newcomer, and its CEO, […]
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Raw Video Emerges of Houthi Attack on Saudi Frigate as U.S. Sends Destroyer to Red Sea
- February 7,2017
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- SUSTG Team
Raw video has emerged online of a Houthi attack on a Saudi frigate that damaged the ship and drew the condemnation of Saudi Arabia and its allies. Suicide boats belonging to the Houthi militias from Yemen struck the Saudi frigate off Hodeida port in the Red Sea. Two crew members were killed and three were […]
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U.S.-Saudi Arabia Continue Strong Defense Ties in Trump Administration’s Early Days
- February 1,2017
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- Lucien Zeigler
Saudi Deputy Crown Prince Mohammed bin Salman spoke by phone with Secretary of Defense James Mattis today to discuss mutual cooperation on security issues, according to the SPA and the Saudi Gazette. The Deputy Crown Prince also serves as minister of defense and chair of the powerful Council on Economic and Development Affairs (CEDA). The U.S.-Saudi relationship is […]
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Economy Rebounds in Saudi Arabia as Money Supply Grows
- January 30,2017
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- SUSTG Team
Saudi Arabian money supply growth has picked up in latest data for the month of December “in a sign that the economy is regaining strength after a slump last year caused by low oil prices and government austerity measures,” Reuters reports, citing central bank data. Key notes among the Central Bank data reported by Reuters: -Annual […]
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Saudi Aramco Selects U.S. Firms to Audit Reserves for 2018 IPO
- January 27,2017
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- SUSTG Team
Saudi Aramco has tasked two U.S. industry leaders in oil reserves auditing to review the content of its deposits as it pushes ahead with a share listing next year, industry sources told Reuters on Thursday. Saudi Aramco has asked a unit of oil services firm Baker Hughes – Gaffney, Cline and Associates – to carry […]
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First Jets from Record-Setting U.S.-Saudi Military Sale Delivered, Showcased in Riyadh
- January 26,2017
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- SUSTG Team
Saudi Arabia showcased its newest F-15SA fighter jet at an airshow in Riyadh on Wednesday, in a demonstration that the Kingdom has begun receiving items purchased six years ago in the most expensive U.S. arms sale to a foreign country, Reuters reports. Custodian of the Two Holy Mosques King Salman commissioned the F15-SA fighter aircraft during […]
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Tunnel for Longest Riyadh Metro Line 3 Complete as City Eyes Long-Term Solution to Traffic, Pollution
- January 24,2017
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- Lucien Zeigler
Tunnel excavation for Line 3 of the under-construction Riyadh Metro – the longest line of the six total being created as part of the project – has been completed, according to a report. Line 3 is also known as the Orange Line and is more than 25 miles long, of which almost 7 miles will be underground, […]
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Saudi-backed Softbank Technology Investment Fund Hits $100b Mark Ahead of Schedule
- January 6,2017
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- SUSTG Team
Oracle founder Larry Ellison will join Apple, Qualcomm and Foxconn in backing SoftBank’s record-setting technology fund, allowing the Japanese telecoms group to hit its $100 billion goal weeks ahead of schedule, the Financial Times reports. According to the report, the Saudi-backed fund may be oversubscribed by the time it closes. Abu Dhabi’s sovereign wealth fund is […]
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U.S to Transfer Four Gitmo Detainees to Saudi Arabia
- January 5,2017
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- SUSTG Team
The United States will transfer four detainees to Saudi Arabia from the Guantanamo Bay military prison in the next 24 hours, according to reports. President Barack Obama is making a final push to reduce the number of inmates at the prison, despite pressure from president-elect Donald Trump to halt such releases. According to Reuters, the release “will […]
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MUST-READS
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EU-Arab SummitAthens hosting EU-Arab World Summit
The Greek capital is hosting the third EU-Arab World Summit, which will focus on strengthening regional cooperation and accelerating existing initiatives.
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European ParliamentMEPs back call for EU members to halt arms sales to Saudi Arabia
MEPs voted on Thursday on a non-binding resolution further demanding a unified move by the bloc’s 28 member states to “impose an EU-wide arms embargo on Saudi Arabia”.
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FIIMBS: Middle East can be the ‘new Europe’
He said his “war” was restoring the Middle East to its past glory. “I believe the new Europe is the Middle East,” Prince Mohammed said. “The Kingdom of Saudi Arabia in five years will be completely different.”
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Art and CultureNew York museums to refuse Saudi funds for Middle East art programs
Two museums in New York that were set to use Saudi money for upcoming programs and seminars on Middle Eastern art now say that they will seek alternative funding in the wake of Washington Post columnist Jamal Khashoggi's disappearance and alleged killing.
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Real EstateSaudi buyers snapping up European commercial real estate
Saudi Arabian asset management firm SEDCO Capital recently acquired three properties worth $179.9m across France and the UK as investments
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SyriaRussia Presses Europe to Break With Trump and Help Rebuild Syria
Russia is urging Germany and France to break ranks with their American ally and help rebuild Syria so that refugees can go home, a senior adviser to the Russian government said.
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IranIran maneuvers to win back public trust in the rial
The rial, which has lost approximately 75% of its value this year, hit a record low rate of 190,000 against the US dollar on Sept. 26, shortly after the showdown between Presidents Hassan Rouhani and Donald Trump at the United Nations.
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SMEsCrowdfunding: A new way of closing the financing gap for SMEs and entrepreneurs in Saudi Arabia
Raising funds is a difficulty that has been faced by entrepreneurs and small-to-medium enterprises (SMEs) globally. But it is even a greater challenge for Saudi-based entrepreneurs. Startups and SMEs here face immense difficulties securing finance from conventional sources such as bank financing, as well as bearing the burden of debt repayment during the initial stages of their development.
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Saudi-KuwaitSaudi Arabia, Kuwait Discuss New Oil Production In Neutral Zone
Joint oil production in the neutral zone was suspended in 2015, but earlier this month the Financial Times reported that the two countries were mulling over a restart amid rising oil prices and the matching rise in worry among large oil buyers.
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Saudi-KuwaitSaudi Crown Prince to discuss Neutral Zone oil output during Kuwait trip
Saudi Arabia’s Crown Prince Mohammad bin Salman is expected to discuss the resumption of oil output from the Neutral Zone, which the kingdom’s shares with Kuwait, during a trip to the Gulf Arab state on Sunday, a source familiar with the matter told Reuters.
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