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Recent stories from sustg
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Crown Prince Mohammed bin Salman Elevated to Prime Minister; New Education Minister Named in Cabinet Changes
Saudi Arabia’s King Salman bin Abdulaziz named his son and heir Crown Prince Mohammed bin Salman as the kingdom’s prime minister and promoted his second son Prince Khalid as defense minister, according to a royal decree on Tuesday.
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Friday Marks Saudi Arabia’s 92nd National Day; 9 Days of Events and Celebrations Planned
Saudi Arabia’s 92nd national day is set for Friday, September 23rd, with nationwide events, patriotic displays and festivals planned by authorities.
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Jadwa Investment Raises Saudi Arabia’s Growth Forecast to 8.7% for 2022
Riyadh-based investment bank Jadwa Investment has revised upward its growth forecast for Saudi Arabia this year, after the Kingdom’s economy showed strong expansion in both oil and non-oil activities in the first half of 2022.
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Saudi Arabia’s PIF Launches Real Estate Registration Services Company in Effort to Digitize Sector
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, has launched a company that aims to digitize and develop the local real estate sector through a comprehensive digital platform, according to a report in the UAE-based outlet The National.
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Saudi Arabia’s Energy Minister Says Paper and Physical Oil Markets ‘Have Become Increasingly More Disconnected’
Saudi Arabian Energy Minister Prince Abdulaziz bin Salman said “extreme” volatility and lack of liquidity mean the futures market is increasingly disconnected from fundamentals, and as a result, OPEC+ may be forced to cut production to balance the market, Bloomberg reports.
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Saudi Central Bank Study: Digital Payments Exceed Cash for First Time in Saudi Arabia
Electronic payments exceeded the use of cash for the first time in Saudi Arabia in 2021, a study conducted by Saudi Arabia’s Central Bank found.
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Knight Frank’s Faisal Durrani on real estate trends in Saudi Arabia, the Saudi economy has a big 2Q, and more…
Episode 55! The 966 welcomes Faisal Durrani, Partner and Head of Middle East Research at Knight Frank, the London-based global real estate consultancy. Knight Frank just released two reports on Saudi Arabia’s commercial and residential real estate sectors, providing unique insights into one of the world’s fastest growing real estate markets. Faisal joins The 966 […]
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IMF Raises Saudi Economy Growth Forecast for 2023 to 3.7%, Despite ‘Gloomy’ Global Developments
The International Monetary Fund has raised its expectations for the growth of the Saudi economy in 2023 to 3.7 percent, up from its April forecast of 3.6 percent.
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Saudi Arabia’s Venture Capital Funding Soars Threefold to $584m in the First Half of 2022
Saudi Arabia’s nascent venture capital scene is beginning to roar to life, tallying a threefold year-on-year increase in venture capital investments in the first half of 2022, according to a report on the sector by Magnitt.
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Ahead of President Biden’s Visit, Administration Said to Mull Resumption of Offensive Arms Sales to Saudi Arabia
Ahead of President Biden’s visit to Saudi Arabia this week, the Biden administration is discussing the possible lifting of its ban on U.S. sales of offensive weapons to Saudi Arabia, four sources told Reuters in an exclusive item.
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MUST-READS
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Perspective: Is the Arab World Realigning? (Audio)
Abdulla is a longtime professor of Political Science at United Arab Emirates University, was a senior fellow at the London School of Economics, and served as chairman of the Arab Council for Social Science.
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How Can Saudi Arabia Reform its Public Hospital Payment Models? A Narrative Review
Government healthcare expenditures in Saudi Arabia continue to rise at a stunning rate. The allocated budget for health and social development has increased from SAR 27 billion ($7.2 billion), 9.2% of the total Saudi government budget, to SAR 159 billion ($42.4 billion), 15.4% of the total Saudi government budget (Ministry of finance, 2020).
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Sole survivor? Saudi Aramco doubles down on oil to outlast rivals
The slump in demand for crude during the coronavirus pandemic has forced oil companies to contemplate the possibility that the fossil fuel market has peaked and the time for a global energy transition has come.
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How much damage can Arab states do to Turkish economy?
Egypt has been at the forefront of efforts to create a united Arab stance against Turkey, most recently at the Sept. 9 meeting of the Arab League. Whether Arab nations can mount an efficient joint action against Turkey is a question on its own, but the Turkish economy today is too vulnerable to dismiss or absorb large-scale reprisals.
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How will Qatar′s labor reforms impact South Asian workers?
Ali Asghar returned to Pakistan from Qatar on September 11 after spending four years in the Gulf state. The 39-year-old, who was part of the 2-million strong foreign workforce in Qatar, told DW he had to work without payment for months. "I was jobless for two years in Doha and lived with my friends. Moving back to Pakistan was not an option because of my country's bad economic situation," Asghar said. "But things were not easy in Qatar also. My employer would not pay his workers for months. We worked at construction sites in abysmal conditions," added Asghar, who is originally from Pakistan's Rawalpindi city.
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How Big is Iran’s Oil Export Recovery?
The export estimates of the three tracking firms for September ranged from 400,000 to 1.5 million bpd, reflecting the difficulties in following shipments as Iran and its purchasers try to evade sanctions.
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Video: How is globalisation in Saudi Arabia impacting its culture?
Ithra, the King Abdulaziz Center for World Culture, celebrated Saudi Arabia's 90th National Day on September 23, 2020 with Ana Mohafeth, a new campaign sparking conversation around the country.
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GCC VAT: which state will come next?
The United Arab Emirates (UAE), Kingdom of Saudi Arabia (KSA) and Bahrain have all implemented VAT since signing the GCC VAT Framework in 2016. For the remaining three states of Qatar, Oman and Kuwait, there has been much debate over the most suitable timing for implementation taking into account the stability and strength of the domestic economy, trade, employment and other factors.
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Can the Oil and Gas Sector Reinvent Itself in a Post-COVID World?
The energy sector is now only 2.5% of the S&P 500. And Exxon is out of the Dow. These things would have been unfathomable a few years ago.
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Is Israel-Gulf business ready to take off?
But for smaller business owners and entrepreneurs, where will the opportunity be? In fact, in many of the sectors in which Israel historically has expertise, the Gulf states have already made significant inroads, so much that the Gulf may be a source of innovation and new business for Israel.
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