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In Letter to King Salman, Council of Saudi Chambers Chairman Al-Zamil Urges Payments to Construction Firms
- February 16,2016
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- SUSTG Team
Saudi businessman and Chairman of the powerful Council of Saudi Chambers of Commerce (CSC), Dr. Abdulrahman al-Zamil, has written a letter to Saudi Arabia’s King Salman requesting that he intervene to ensure that the government makes delayed payments to construction companies. Some construction firms have seen scheduled payments from the government delayed by over six […]
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Saudi Arabia ‘Ready to Participate in Any Ground Operations’ by Coalition in Syria
- February 5,2016
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- SUSTG Team
Saudi Arabia has announced its readiness to send ground troops to Syria to help in the battle against ISIS, or Daesh, according to comments made by a Saudi defense official. “The kingdom is ready to participate in any ground operations that the coalition (against ISIS) may agree to carry out in Syria,” said military spokesman […]
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Saudi Arabia, Turkey Support Syrian Opposition at Geneva Talks but ‘Avoid Setting the Agenda’
- February 1,2016
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- Lucien Zeigler
Saudi Arabia and Turkey voiced their support of Syria’s opposition members in Geneva for possible U.N.- sponsored peace talks with the Syrian regime, whether the opposition continued with the talks or not. The comments were made in a joint press conference by Saudi Arabia’s Foreign Minister Adel Al-Jubeir and Turkish Premier Ahmet Davutoglu in Riyadh. Saudi […]
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Saudi-led Intervention in Yemen to Restore Hadi Continues into 10th Month with ‘Different Objectives’
- January 19,2016
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- SUSTG Team
The Saudi-led intervention in Yemen continues into its 10th month of fighting with some gains but no decisive victory for the coalition seeking to restore power to the UN-recognized Hadi government and oust control of parts of the country from Houthi militia members. The coalition has retaken Aden, Yemen’s southern port, and according to Saudi […]
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Saudi Aramco Considers IPO, but Scope of Listing Unknown
- January 11,2016
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- SUSTG Team
As Saudi Arabia appears to actively consider a potential IPO for its state-owned oil company, Saudi Aramco, two conflicting reports emerged today about the potential scope of the offering. On Thursday of last week, Saudi Arabia’s deputy crown prince Mohammed bin Salman told the Economist in an interview that he was optimistic about the potential […]
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Saudi Stocks Hit 4-Year Low as Global Markets Shudder at China’s Second Halt in Trading This Week
- January 7,2016
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- SUSTG Team
Saudi Arabia’s stock market has continued a tumultuous start to the new year, with the Kingdom’s benchmark index falling another 4.8 percent on Thursday to a four-year low. According to the Financial Times, the drop this year has totaled 10.6 percent, and leaves it 44 per cent weaker than its post financial crisis peak in 2014. The TASI […]
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Saudi-Turkey Ties Grow with Erdogan Visit, Agree to Form ‘Strategic Cooperation Council’
- December 30,2015
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- SUSTG Team
Turkish President Recep Tayyip Erdogan visited Saudi Arabia this week to meet with top Saudi officials to discuss security and energy cooperation. Erdogan said his government and Saudi Arabia are working “in solidarity and consultation” to find a political solution for Syria, as both countries push for an agreement that would remove Assad from power, […]
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Saudi Arabia’s 2016 Budget Features Prudent Fiscal Policy Decisions
- December 29,2015
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- SUSTG Team
Saudi Arabia’s 2016 budget marks a shift in fiscal policy toward prudent but tough decisions for the future of the Arab world’s largest economy. In a recently released note to investors, Riyadh-based Jadwa Investment said the 2016 budget still provides a high level of government spending to drive the Saudi economy. Budgeted at $226b, the amount is a […]
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Early Look at Saudi Arabia’s 2016 Budget Reveals Spending at $226b
- December 28,2015
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- SUSTG Team
Saudi officials revealed the Kingdom’s 2016 budget at a press conference today in Riyadh, a budgeted spend of 840 billion riyals ($224 billion) and forecasted revenue at 513 billion ($137 billion). The budget plan aims to reduce the fiscal deficit while raising revenues from sources other than oil. King Salman said that Saudi Arabia’s economy […]
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King Salman’s Speech to Shura: The Kingdom is Committed to Decreasing Dependence on Oil as a Main Source of Revenue
- December 23,2015
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- SUSTG Team
Saudi Arabia’s King Salman said in a major speech today that Saudi Arabia will seek to diversify its sources of income and improve the efficiency of government spending as it strives to reduce its dependence on oil revenue, which has plunged since last year, Reuters reports. “The kingdom is committed to implementing programs to diversify […]
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MUST-READS
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Qatar DisputeQatar And Saudi Arabia Take Their Feud To The Airwaves, Internet
If you've turned on cable TV lately or looked at a national newspaper online, there's a good chance you've seen dueling ads by Saudi Arabia and the tiny nation of Qatar. The ads are part of a 2-month-old feud between the Persian Gulf neighbors. NPR's Jackie Northam has more.
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HamasEU top court keeps Hamas on terror blacklist
The European Union's top court has ruled that the Palestinian Islamist group Hamas should remain on the 28-member bloc's terrorism blacklist.
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Qatar DisputeNo winners in Gulf feud as Saudi and Qatari assets converge on oil
The crisis has come at a time of economic headwinds in the region. Saudi Arabia reported its first quarterly economic contraction in at least six years and a sixth month of deflation, while the United Arab Emirates (UAE)—a member of the Saudi-led bloc—is dealing with slowing growth amid lower oil revenue.
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EU-TurkeyTurkey says opening chapters vital for ties with EU ahead of key meeting in Brussels
Opening negotiation chapters is vital to revive ties between Turkey and the European Union, Turkey’s EU Minister Ömer Çelik has said just a day before a Turkey-EU political dialogue meeting is set to take place in Brussels following months-long tension between the two sides.
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Steinhardt Museum of Natural HistoryThe Middle East Is a Treasure Trove of Natural Wonders. Now It Has a Museum to Show Them Off
For a region with an international reputation for its history and natural wonders, the Middle East has a notable lack of museums showcasing them. This fall, Israel is setting out to change that: Visitors will be able to see some of the earliest human fossils, whale skeletons and rare birds on display in what will be the Middle East’s first natural history museum.
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Qatar DisputeHow a 91-year-old imam came to symbolise feud between Qatar and its neighbours
But the concerns about Qatar's role as a financial and ideological base for extremist groups have been shared by Democratic and Republican administrations for at least two decades. Leaked diplomatic cables from the Obama administration show US officials lodging repeated complaints about Qatari organisations and charities, including Qaradawi himself.
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RussiaRussia extends tit-for-tat sanctions against EU over Ukraine
The Russian government this week extended sanctions against the European Union through 2018, one day after the EU did the same to Russia, the Kremlin said.
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Female EntrepreneursWomen Entrepreneur Fund: Silver Lining for Female Entrepreneurs in Middle East?
It might be surprising to know that the percentage of startups being run by women in MENA (Middle East and North Africa) region is higher than that in Silicon Valley, says Christopher M. Schroeder in ‘Startup Rising.’
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Qatar DisputeQatar Standoff Tests China’s Neutrality on Saudi-Iran Feud
Talks this week on letting Iran join a Beijing-based cooperation bloc highlight the challenge China faces in trying to avoid taking sides in the Middle East’s spiraling sectarian crisis.
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Healthcare in Saudi ArabiaBillionaire Entrepreneur Seeking Saudi Health-Care Acquisitions
NMC Health Plc, the biggest privately owned health-care company in the United Arab Emirates, is looking to buy hospitals and other medical facilities in Saudi Arabia where the government has announced privatization plans as part of efforts to reform the country’s economy.
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