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Trump Administration Approves Nearly $300 Million in Bomb Sales to Saudi Arabia
- December 30,2020
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- SUSTG Team
The Trump Administration’s State Department has approved a possible the sale of nearly $300 million in GBU-39 Small Diameter Bomb I (SDB I) Munitions and related equipment to Saudi Arabia, the latest large U.S.-Saudi security deal to be approved in recent years. The principal contractor will be U.S.-based Boeing, St. Louis, MO.
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Saudi Arabia’s PIF Makes Two Moves in Security, Defense Space
- December 29,2020
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) and its defense subsidiary SAMI announced separate moves in the defense and security space this week, according to reports. The PIF said Tuesday it had established a company to develop and expand the private security sector in the Kingdom, creating the National Security Services Co. (SAFE). SAFE will focus on […]
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October Data: Saudi Oil Exports Drop $5 Billion, Down Nearly One Third
- December 24,2020
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- SUSTG Team
Saudi Arabia’s oil exports in the month of October fell by 18.9 billion riyals ($5.04 billion), down by nearly a third, while non-oil exports fell by 0.3%, according to data obtained by Reuters.
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More Golf Stars Join List of Committed Players for Saudi International in February
- December 23,2020
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- SUSTG Team
More international golf stars have joined the growing list of players who have committed to playing in the Saudi International at Royal Greens Golf & Country Club, beginning February 4th 2021. Norwegian youngster Viktor Hovland and American Ryder Cup star Tony Finau are the latest top international stars to confirm their entry for the third edition […]
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Saudi Arabia’s Tourism Minister: Kingdom Needs to Inject $200 Billion into Industry — Report
- December 22,2020
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- SUSTG Team
Saudi Arabia’s tourism minister Ahmed Al-Khateeb dismissed naysayers of the Kingdom’s ambitious tourism plans, telling Arab News‘ Frank Kane in an exclusive interview that the Kingdom’s target of obtaining 100 million visits by 2030 is not overambitious with big investments in the industry.
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Saudi Arabia Joins Dozens of Nations in Blocking International Travel as Mutant Coronavirus Strain Alarms Authorities
- December 21,2020
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- SUSTG Team
Saudi Arabia suspended late on Sunday all international commercial flights for a renewable week except for the foreign flights already in the kingdom which will be allowed to leave, according to reports. The variant, detected in England, is up to 70 percent more transmissible than earlier versions, officials said. People in southeast England, where the […]
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Oil Approaches Prices Not Seen Since Start of Pandemic as Optimism on Vaccines, U.S. Stimulus Drives Prices
- December 18,2020
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- SUSTG Team
Oil reached its highest close in almost 10 months as U.S. lawmakers worked toward finalizing a stimulus deal that may boost near-term demand ahead of a broad roll-out of the Covid-19 vaccine. Futures in New York were near $48.50, headed for a seventh weekly gain, Bloomberg reports.
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Saudi Arabia’s Economy Still Shrank in 3Q Despite Rebound Trend
- December 17,2020
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- SUSTG Team
Saudi Arabia’s economy shrank more slowly in the third quarter of this year as the government relaxed some measures put in place to curb the spread of the Coronavirus but the oil sector continued to weigh on the Kingdom’s overall economic outlook, according to reports.
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Saudi Arabia Unveils 2021 Fiscal Budget with Spending Reductions, Eying Economic Rebound
- December 16,2020
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- SUSTG Team
Saudi Arabia unveiled a new budget for the 2021 year, cutting spending to rein in a fiscal deficit brought on by a lower oil prices in 2020 and adjusting the Kingdom’s fiscal strategy to a post-Coronavirus pandemic era.
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Saudi Arabia’s Air Force Receives Final F-15SA Fighter Aircraft in Deal Signed under Obama Administration
- December 14,2020
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- SUSTG Team
The Royal Saudi Air Force has received the last F-15SA advanced fighter aircraft from the United States as part of a massive $29bn foreign military sales (FMS) agreement agreed to with the Obama administration in 2010. An advanced version of the F-15S, the F-15SA is equipped with several capabilities to enable the Royal Saudi Air Force […]
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MUST-READS
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Qatar Bond SaleQatar Starts Dollar Bond Sale Days After Saudi Arabia
Qatar, in the midst of a diplomatic and trade standoff with a group of Arab nations including Saudi Arabia, plans to bridge its budget deficit of $7.6 billion with debt offerings. The price indicators are about 50 to 70 basis points wider than where its existing bonds trade, according to data compiled by Bloomberg.
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BondsSaudi Arabia Is Said to Start Bond Sale as Qatar Meets Investors
Saudi Arabia will probably beat Qatar, its neighbor and political rival, to the international debt market with a three-part dollar bond sale as it seeks to fund its budget deficit.
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U.S. Arms SalesUS approves $1.3 billion sale of artillery to Saudi Arabia
In total, the U.S. has agreed to more than $2.3 billion in arms deals with the Saudis just since Prince Mohammed arrived in the U.S. last month. A previously announced deal involved more than $1 billion in missiles.
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Gulf Shield-123 countries take part in Gulf Shield-1 military drills in Saudi Arabia
“The field exercise lasts for four consecutive days,” said the spokesman for the Joint Gulf Shield 1, Brig. Gen. Al-Subaie, a live-fire exercise involving participating countries’ forces (ground, air, naval, air defense and special forces).
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Saudi Military IndustryBoeing, Saudi Arabian Military Industries form joint venture partnership
Boeing (BA -2.1%) and state-owned Saudi Arabian Military Industries over the weekend signed an MoU to develop a joint venture that seeks to localize in Saudi Arabia at least 55% of maintenance, repair and overhaul services for the country’s fleet of fixed and rotary-wing military aircraft.
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Crown Prince SalmanSaudi Arabia’s crown prince discusses with Warner Bros. CEO media partnerships
Saudi Arabia’s Crown Prince Mohammed bin Salman met Warner Brothers CEO Kevin Tsujihara in Los Angeles on Tuesday to discuss media and cultural partnerships.
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TourismSaudi Arabia To Start Offering Tourist Visas, Opening Up Traditionally Restrictive Country
Saudi Arabia has allowed millions of Muslims to visit on religious pilgrimages but now it plans to open its doors to others by starting to offer tourist visas.
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OPEC-RussiaSaudi Arabia wants to build the biggest oil cartel in history
OPEC and Russia are looking to solidify their cooperation on crude oil production for another decade or two, Saudi Crown Prince Mohammed bin Salman told Reuters in an interview while on a visit to the United States.
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SecurityCommentary: Saudi Arabia is a critical American security partner in the Middle East
Somewhere along the line, we seem to have forgotten that our strategy in the Middle East is dependent on Saudi Arabia as our most important single security partner. Israel’s security is certainly a key American concern, but it does not play an active role in most of America’s ongoing military engagements in the region, in dealing with Iran, or in a direct fight against violent extremist movements like ISIS and Al Qaeda.
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Culture and SocietySaudi Arabia plans first DJ party amid cultural shake-up
DJ Armin Van Buuren is being flown in for King Abdullah Economic City event on June 17
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