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Work to Begin on 400-megawatt Dumat Al Jandal Wind Power Facility in Saudi Arabia
Saudi Arabia will begin producing wind energy at the Dumat Al Jandal site within three years to offset domestic oil consumption and diversify its energy supply, according to reports. Work will begin soon on Dumat Al Jandal, the Kingdom’s first major wind power facility, located in the Al-Jouf province in the north of Saudi Arabia, near the […]
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PIF Acquires Stake in Jasara Program Management Co., Agrees to $10b Loan Terms
Saudi Arabia’s Public Investment Fund (PIF) has acquired a 40% stake in Jasara Program Management Co., a joint venture between Saudi Aramco and Jacobs Engineering Group, three people familiar with the matter told Bloomberg. The PIF acquired 30% of Jasara Program Management Co. from Saudi Aramco and 10% of the joint venture from Jacobs, one of the people told Bloomberg, […]
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‘Expanded Reach’ for SIDF to Mining, Logistics and Energy Projects – Report
Saudi Arabia is reportedly expanding the reach of its $28b Saudi Industrial Development Fund (SIDF) to allow the financing of energy, logistics and mining projects as part of broader efforts to develop the kingdom’s industries. The changes greatly extend the purview of the Saudi Industrial Development Fund, which previously only provided financing to local manufacturing […]
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Princess Reema bint Bandar al-Saud Presents Credentials to President Trump at White House
Saudi Ambassador to the United States Princess Reema bint Bandar Al-Saud presented her credentials to President Trump at the White House on Monday, officially beginning her tenure as the Kingdom’s new top diplomat in Washington. “Presented credentials today at the White House. Conveyed the well wishes of Kingdom’s Leadership. Looking forward to working on strengthening and […]
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Saudi Desalination Plant Struck by Missile from Yemen, U.S. Drone Shot Down – Reports
A Saudi desalination plant was struck by a missile that appeared to come from within Yemen, according to reports. Hours after the statements from U.S. officials, Saudi Arabia confirmed the missile strike, saying it caused no damage or casualties, the Wall Street Journal reports. Shortly after the strike was made apparent, senior U.S. officials met at […]
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Aramco Expats’ The Seven Wonders of Arabia, a Tribute to the Kingdom’s Remarkable Heritage Sites – Part 1: Madain Salih
Aramco Expats, an online blog that is a resource for current and former Saudi Aramco expatriates and their families, recently published a series of excellent blog posts on the seven wonders of the Arabia – the best heritage sites and historical places in the Kingdom. The blog noted that this list was, in fact, the seven runners up to […]
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UK Petrochemical Company INEOS will Invest $2bn to Build Three Plants in Saudi Arabia
INEOS, one of the world’s largest chemical producers and oil and gas companies, is a privately owned company based in London. “On top of a combined $4bn investment recently announced in the UK and Europe, this is part of a wider Group strategy of globalisation that will stimulate growth and jobs worldwide,” the company said on Twitter. […]
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Vision 2030 economic reforms ‘have started to yield positive results’ in Saudi Arabia, IMF says
The International Monetary Fund (IMF) said that Saudi Arabia’s Vision 2030 economic and social reform plan was starting to pay off for the Kingdom, according to a report issued by the fund after a mission visit. “Economic reforms have started to yield positive results. Non-oil growth has picked-up, female labor force participation and employment have […]
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Bloomberg Economics: Rising Private Sector Spending, Fiscal Stimulus Boost Non-Oil Economy
Rising private sector consumption and government fiscal stimulus measures are expected to give a boost to the non-oil Saudi economy, Bloomberg Economics reports. “BE expects non-oil growth to average 2.6% this year, up from 2.1% in 2018, helped by fiscal stimulus, a lower drag from monetary policy and improved private consumption,” the outlet revealed in […]
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Saudi Arabia Replaces Head of Civil Aviation by Royal Decree Amid Airport Delays
Saudi Arabia replaced the head of its civil aviation authority on Wednesday, Reuters reports, appointing Abdelhadi Al-Mansouri president of the General Authority for Civil Aviation (GACA). Al-Mansouri’s appointment fills a position that has been vacant officially since January, when his predecessor, Abdelhadi Al-Mansouri, was dismissed. He was appointed in June 2017. No details were given on the […]
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MUST-READS
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‘Do You Know How to Snowboard?’: Saudi Arabia Tries Out for Its First Winter Olympics
While each member of the all-male squad has some winter sports experience, it’s rarely in the discipline they’re looking to qualify in. Some have competed at the school level, but most hit the slopes relatively late in life—and then often just during family vacations abroad.
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Is climate change policy to blame for energy price spikes?
But the global effort to fight climate change is also causing problems. Europe’s wind farms haven’t seen a good breeze in months, and droughts in China and South America have dried up power generation from hydro dams. Meanwhile, surging prices for carbon pollution credits in Europe have made fossil alternatives even more expensive, and Chinese grid operators have come under mounting political pressure to help the country meet its carbon emissions targets by burning less coal.
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A New U.S. Weapons Exports Policy: Transformed or Simply Revamped?
A new Conventional Arms Transfer policy based on human rights could have a major impact on the global arms trade and U.S.-Gulf relations, but questions remain as to whether recent announcements will lead to concrete policy shifts.
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Libya: credible elections – or another failed bid at nation-building?
Libya’s hopes of ending a decade of political chaos with credible elections at the end of this year for a president and new unified parliament have reached a defining moment, with the US insisting the vote should go ahead but some European diplomats fearing divisions are too entrenched for the result ever to be accepted as legitimate.
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India’s startup expansion to Mena: A cause for concern?
Since 2016, more than 50 India-based startups have expanded into the Middle East and North Africa (Mena) by making their UAE debut an entry point to the wider region. Twenty of these were already unicorns when they scaled and included the fintech PayMate, edtech Countingwell, and eyewear online retailer Lenskart.
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Iraq’s Elections: Will Boycott Efforts Delegitimize or Entrench Discredited Status Quo?
On October 10, Iraqis will go to the polls in parliamentary elections aimed at forming a new government. There is more at stake this time than in past elections because of the multiple crises facing the country: a campaign of violence and intimidation against a 2-year-old protest movement opposed to the state; an anemic economy; deficient services, including electricity shortages; and a competition for the future control of the country between Iranian-backed Shia militias on one side and some clerics, civil society, and some state institutions on the other.
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Can the UN help Afghan women without supporting the Taliban?
Afghanistan’s regime had initially promised it would respect human rights, crucially those of women. But its handling of dissent, the curtailing of women’s freedoms, and the disconnect between the plans announced by the central government and the behavior of Taliban in outposts in the country’s more remote areas is quickly showing a different picture.
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Who funds the United Nations?
The United Nations has 193 member states, all of which pay yearly into the organization. Those payments are called contributions, and are divided into two types: assessed and voluntary. Assessed contributions are mandatory.
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Another headwind? Global gas price spike worries energy execs
Energy executives gathered in Dubai on Tuesday for the first time since the COVID-19 pandemic started, but despite being upbeat on economic recovery, they were concerned about another headwind: a global gas price spike. Natural gas prices have soared by around 280% in Europe this year and by more than 100% in the United States, pushing up winter fuel bills, and exacerbating a near-term spike in inflation in another blow to a world economy as it recovers from the coronavirus crisis.
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Why is natural gas so expensive right now?
The basic reason for the global price spike is a shortfall in inventory just as temperatures begin to dip (gas is the main fuel for home heating in the US and Europe). Gas stockpiles in the US are at least 7% below average; in Europe they’re more than 20% below average. Norway has agreed to increase gas exports to Europe.
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