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In ‘Routine’ Action, New Biden Administration to Review Some Arms Sales from Previous Administration to Saudi Arabia, UAE
- January 28,2021
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- SUSTG Team
President Joe Biden’s administration has temporarily paused some pending arms sales to U.S. allies in order to review them, a move that is typical for most new incoming administrations, especially if arms sales are announced just hours before the outgoing administration departs.
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Future Investment Initiative Conference Opens with Impressive Virtual Platform for Distance Participation, Audience
- January 27,2021
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- SUSTG Team
Saudi Arabia’s annual flagship investment conference, the Future Investment Initiative, began today with both in-person and remote participation from speakers and audience on an impressive digital platform built to expand engagement in the conference around the world.
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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 Foreign Minister Prince Faisal bin Farhan Voices Optimism with U.S.-Saudi Relations under Biden Administration
- January 22,2021
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- SUSTG Team
Saudi Arabia’s foreign minister has voiced optimism that relations between Riyadh and Washington will be “excellent” under new U.S. President Joe Biden, Al-Arabiya TV channel cited him as saying on Thursday. Appointments made by Biden show “understanding of the common issues” by the new U.S. administration, Prince Faisal bin Farhan added.
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List of World’s Top Golfers Competing at Third Saudi International Grows as Kevin Na Commits
- January 21,2021
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- SUSTG Team
The field of competitors for next month’s Saudi International powered by Softbank Investment Advisers is growing as another top golfer in the world has joined some of the sports biggest names confirmed to compete in Saudi Arabia. Five-time PGA Tour winner Kevin Na, who won the PGA Tour’s Sony Open in Hawaii on Sunday, is […]
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First American Chamber of Commerce Established in Riyadh; ABGR Becomes AmCham KSA
- January 20,2021
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- SUSTG Team
The American Business Group of Riyadh (ABGR) has formally become part of the global network of the American Chambers of Commerce with the announcement that the group will now be known as the American Chamber of Commerce in Saudi Arabia (AmCham KSA), the first such establishment of its kind in the Kingdom.
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As Thaw Continues, Broadcasts by Qatar-based beIN Sports TV Channel Appear on Saudi TVs, Witnesses Say
- January 19,2021
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- SUSTG Team
Qatar-based TV channel beIN Sports was broadcast in Saudi Arabia on Monday after the two countries reconciled this month, ending a rift of more than three years, according to Reuters. The sports channel was barred from broadcasting in Saudi Arabia since mid-2017, when relations between the two countries were suspended, and was even the subject of international litigation between […]
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After Strong Finish in 2020, Oil Likely to Continue Steady Comeback in 2021 — Jadwa Investment
- January 18,2021
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- SUSTG Team
After a strong finish to 2020, oil demand will continue rising in Q1 and during the rest of the year on a quarterly basis, but still end up 3 percent lower than pre-COVID-19 levels by the end of 2021, a recent report by Jadwa Investment on the market said.
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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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MUST-READS
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BadirSaudi Arabia start-ups raise $3.11 million funding in Q2 2018
Funding in Saudi Arabia was able to keep pace in Q2 2018, showing strong signs of ecosystem growth in the Kingdom’s market according to The Badir report.
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Housing and Real EstateHousing rents fall in Saudi Arabia on expat departures, economic reforms
Housing rental prices have weakened in Saudi Arabia this year due to tough economic conditions and new labour fees imposed on expat employees, according to two analysts and recent real estate market reports.
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IMF ConsultationIMF Executive Board Concludes 2018 Article IV Consultation with Saudi Arabia
The fiscal deficit is projected to continue to narrow, from 9.3 percent of GDP in 2017 to 4.6 percent of GDP in 2018 and then further to 1.7 percent of GDP in 2019.
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TechnologySaudi Arabia opens first smart pharmacy run by a robot
In order to save the time of patients and pharmacists, ensure better control of drug stocks, provide the highest safety standards, and reduce medication errors, the smart pharmacy can also store over 20,000 packages of medicine, reject expired drugs, and deal with 240 prescriptions per hour.
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Driving EconomyChart: Saudi Arabian Women (Now) Driving Cars and Sales
By 2025, car sales are projected to grow by about 9 percent in Saudi Arabia.
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Saudi-UKSaudi Arabia seeks new UK R&D partnerships in line with Vision 2030
Saudi Arabia plans to forge new links with UK academic and research institutions as part of a $1.6 billion initiative to enhance the Kingdom’s domestic research & development capabilities.
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Saudi Missile DefenseParts of missiles fired at Saudi Arabia came from Iran: U.N. chief
Debris from five missiles fired at Saudi Arabia by Yemen’s Houthi group since July 2017 “share key design features with a known type of missile” manufactured by Iran and some of the components were manufactured in Iran, U.N. chief Antonio Guterres wrote in a confidential report to the Security Council.
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Maritime YardConstruction starts at Saudi Arabia’s new maritime yard
A joint venture comprising UAE-based oil rig builder Lampell, oil company Saudi Aramco, the National Shipping Company of Saudi Arabia (Bahri), and South Korean shipbuilder Hyundai Heavy Industries Co. Ltd., has begun construction works at Saudi Arabia’s new maritime yard, at the Ras Al Khair site.
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Makkah-Madinah RailHigh-speed rail line in Saudi Arabia to start operations in September
A high-speed railway line connecting Islam’s holiest cities – Mecca and Medina in Saudi Arabia – will become operational in September.
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Vision 2030Opinion: Partnership between Masayoshi Son and Saudi Arabia not just about the money
But what the Economist did not do in any great depth was to explain the rationale for the Saudi Arabian interest in the Vision Fund. This goes beyond a mere mutual interest in making money, but actually represents a shared vision of the future.
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