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1.2 million Expat Workers to Leave Saudi Arabia in 2020, Jadwa Estimates
- June 16,2020
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- SUSTG Team
As many as 1.2 million foreign workers will leave the Saudi labor market in 2020, with an estimated 300,000 already gone this year, according to a recent labor market update by Jadwa Investment.
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Saudi Aramco Completes Acquisition of 70% Stake in SABIC with Purchase of 2.1 Billion Shares on Tadawul
- June 15,2020
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- SUSTG Team
State-owned Saudi Aramco bought 2.1 billion shares of Saudi Basic Industries (SABIC) on the Tadawul, the Kingdom’s stock market, on Sunday, completing its deal to buy 70% of the petrochemical giant, according to a report in Reuters.
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Saudi Ambassador Reema Bandar Al-Saud Nominated to International Olympic Committee
- June 12,2020
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- SUSTG Team
Saudi Arabia’s Princess Reema Bandar Al-Saud is among three women nominated and four total new individual members to the International Olympic Committee this week as part of an effort to increase women’s representation in sport.
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SAMA Uses Blockchain for Local Deposits of Announced Funds
- June 9,2020
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- SUSTG Team
The Saudi Arabian Monetary Authority (SAMA) used blockchain technology to deposit part of the liquidity that SAMA had previously announced to be injected into the banking sector “as part of SAMA’s actions aimed at enhancing the sector’s capabilities to continue its role in providing credit facilities,” the organization announced.
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New York-based Wahed Invest, an Online Halal Investment Platform, Secures Funding from Saudi Aramco
- June 8,2020
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- SUSTG Team
New York-based online Islamic investment platform Wahed Invest has secured backing from Saudi Aramco, the world’s biggest company, to expand into the Middle East and make Riyadh its hub for the region, according to Bloomberg.
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With a Bumpy Road Ahead in 2020, Saudi Banks are ‘Well Capitalized’, Executives told Reuters
- June 4,2020
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- SUSTG Team
“Strong capital buffers” will help banks in Saudi Arabia push through a bumpy road ahead in the next few months, according to a Reuters report, which took a measurement of some of the industry’s top CEOs.
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Analysis: With Saudi Arabia’s PIF Investment in Two Canadian Energy Companies, Strategic Investment Shift Continues
- June 3,2020
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) invested in two Canadian energy companies in the first quarter of 2020, expanding its holdings in the sector likely at lower-than-usual valuations as oil prices hit cyclical lows this year.
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Jadwa Chartbook: Saudi economic data from April shows Coronavirus impact
- June 2,2020
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- SUSTG Team
Economic indicators for the Saudi economy in April reflected the impact of COVID-19 containment measures on the local economy, with PMI remaining in contractionary territory, Jadwa Investment said in its recently-released chartbook.
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Saudi Arabia Begins Return to Normal Life as Second Phase of Reopening Begins
- June 1,2020
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- SUSTG Team
Saudi Arabia has begun the second of three phases in reopening businesses, retail, and restaurants after a Kingdom-wide shutdown to stop the spread of the Coronavirus.
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U.S., Saudi Forces Conduct Joint Military Exercises on Saudi Islands
- May 27,2020
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- SUSTG Team
Forces from the United States and Saudi Arabia are conducting “routine and joint sustainment training” on and around Karan and Kurayn islands, Kingdom of Saudi Arabia this week, according to a statement from the U.S. Naval Forces Central Command.
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MUST-READS
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DefenseSaudi Arabia Charting Future Defense Policy
“The order then was to eject them … push them outside of our borders, but not pursue. The king was very adamant [that] we’re not entering Yemen,” he added, “This operation today relied heavily on special forces” for gathering intelligence, training and equipping the Yemenis loyal to the government of President Abd Rabbeh Mansur Hadi and “lasing” targets for air operations.
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Arab ArtArab Art Redefined: How art collector Sultan Sooud Al-Qassemi is trying to change the narrative
Eventually, he explains, his interest in breaking news had died down and he shifted his attention to collecting and promoting modern and contemporary art from the Arab world. He sees it as a continuation of the ideals of the Arab Spring, he says, because the art tends to be political — and it defies traditional definitions set by the West.
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Hajj 2015Pictures: Millions of Muslims Start Hajj in Saudi Arabia
In Saudi Arabia, at least two million Muslims swarmed the Kaaba in the middle of Mecca’s Grand Mosque to begin their annual hajj pilgrimage.
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U.S. - SaudiAnalysis: The U.S. and Saudi Arabia: A 21st-century partnership
Equally as important was the strategic vision for a 21st-century partnership between the two countries, which was presented by Saudi Crown Prince Mohammad bin Salman during the visit. This vision, which was aided by studies prepared by leading global consultancy groups such as Booz Allen Hamilton and BCG, is estimated to have a potential worth of $2 trillion in 12 sectors. It includes unprecedented steps toward opening up the lucrative Saudi market to U.S. investors and companies.
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Saudi ArtAn Art Scene Flourishes Behind Closed Doors In Saudi Arabia
Arwa al-Naimi's latest art project is called the "Drop Zone," named after the vertical, free-fall amusement park ride.
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Saudi MusicSaudi Arabia’s underground pop artists are building fanbases behind closed doors
Despite the lack of a clear path to making a living, Saudi youth are starting bands and creating art in droves—Homsi estimates there are hundreds of rappers in Jeddah alone, all recording on laptops and posting online.
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Nuclear EnergySaudi Arabia and Korea further SMART cooperation
The newly signed contracts "come as a package", KA-CARE said, and include cooperation and joint construction in designing the core of a SMART reactor.
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Art and CultureMeet the 6 Arab artists featured in Banksy’s Dismaland
British underground artist Banksy shocked the world after releasing the trailer to his newest exhibition space, Dismaland. The anti-Disneyland “bemusement park” features more than 50 artists from around the world, which includes works from six Arab artists. The attraction, located in the dilapidated seaside-resort of Weston-super-Mare, launched on August 21 and will run until September 27.
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U.S.-SaudiSaudi Arabia seeks Robins AFB partnership
Lt. Col. Jeff Hamblin, the Foreign Military Sales Branch Chief, explains Saudi Leaders have allocated 2.5 billion dollars to Robins Air Force Base, which will be spent on five business contracts that will support the Royal Saudi Air Force.
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Saudi-HamasSaudi Arabia and Hamas: A Pragmatic Partnership
In the wake of the nuclear accord with Iran, Saudi Arabia has not been content to simply wait and see what shape regional developments take. Riyadh has already become more active as it positions itself as the leader of a Sunni Arab coalition to oppose a rejuvenated Tehran by, for one thing, chipping away at Iran's proxies in the region.
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