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Recent stories from sustg
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First Jets from Record-Setting U.S.-Saudi Military Sale Delivered, Showcased in Riyadh
Saudi Arabia showcased its newest F-15SA fighter jet at an airshow in Riyadh on Wednesday, in a demonstration that the Kingdom has begun receiving items purchased six years ago in the most expensive U.S. arms sale to a foreign country, Reuters reports. Custodian of the Two Holy Mosques King Salman commissioned the F15-SA fighter aircraft during […]
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Tunnel for Longest Riyadh Metro Line 3 Complete as City Eyes Long-Term Solution to Traffic, Pollution
Tunnel excavation for Line 3 of the under-construction Riyadh Metro – the longest line of the six total being created as part of the project – has been completed, according to a report. Line 3 is also known as the Orange Line and is more than 25 miles long, of which almost 7 miles will be underground, […]
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U.S to Transfer Four Gitmo Detainees to Saudi Arabia
The United States will transfer four detainees to Saudi Arabia from the Guantanamo Bay military prison in the next 24 hours, according to reports. President Barack Obama is making a final push to reduce the number of inmates at the prison, despite pressure from president-elect Donald Trump to halt such releases. According to Reuters, the release “will […]
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Another ‘Mixed Picture’ for Saudi Economy as Data Show Negatives on Consumer Spending, Inflation Down
Jadwa Investment’s recently released Chartbook for the month of January 2017 finds a mixed picture for the Saudi economy, including negative data on consumer spending and a significant dip in net change to government accounts with SAMA. Data on consumer spending came out negative “partly reflecting the impact of allowance reductions to public sector employees,” […]
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Outside Riyadh, Video Shows Making of Largest Tire ‘Doughnut’ Ever – and it’s Pink
It is sometimes called a doughnut – the tire marks left on the road or dirt after spinning your car’s wheels into a burnout. Just outside of Riyadh, Saudi Arabia, someone created the biggest ‘doughnut’ ever according to the Guinness Book of World Records, but the purpose wasn’t just for one last superlative for the Middle […]
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Saudi Government Publishes New Overview of Economy Highlighting Balanced Budget Goal by 2020
Saudi Arabia has published a new report highlighting its goals to achieve a fiscal balance by the year 2020. The 85-page report, which places the goal in the context of the Kingdom’s ongoing economic transformation plans, is the first of its kind since Saudi Arabia published its Vision 2030 and National Transformation Program overviews earlier this year. The […]
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Saudi Housing Authorities to Set Up Online Portal to Increase Transparency and Resolve Renter, Landlord Disputes
Saudi Arabia plans to set up a center to resolve disputes between tenants and landlords as authorities look to reform and modernize the way property is bought, sold, and leased in Saudi Arabia. According to the English language daily Saudi Gazette, the Saudi housing ministry plans to establish the “Center for Real Estate Dispute Redressal,” which will […]
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Monetary and Financial Developments in the Kingdom
A recently released report by Jadwa Investment finds that, following the US Federal Reserve’s second rate hike since 2008, the US’s path to policy normalization “is expected to accelerate.” For the Saudi monetary system, the Saudi Arabian Monetary Authority (SAMA) has passed several measures to enhance liquidity in the domestic financial system, which has contributed […]
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Mixed Picture for Saudi Labor Market as Unemployment in Kingdom Hits 4-Year High
Saudi unemployment rose to a four-year high despite overall employment growth remaining positive, the Riyadh-based Jadwa Investment finds in a report on the Saudi labor market. The report is a mixed picture for Saudi Arabia. For example, during the first three quarters of 2016, total net employment in the Kingdom saw a “significant rise” of […]
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OPEC’s Oil Production Announcement Sends Prices Soaring, Raises Optimism for Reigning in Oversupply in 2017
In the wake of last week’s OPEC decision to reduce crude oil production, oil prices have surged roughly 15% in just one week. At roughly $55/barrel on Brent, that’s the highest level in more than a year. OPEC agreed to slash its output by 1.2 million barrels a day, or more than 1% of global output, […]
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MUST-READS
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Could Trump put an end to the Iranian art boom?
Interest in Iranian art appears to have boomed in recent years. In 2016, a Tehran art auction attracted record sales of $7.4 million, sparking hopes that the market was buoyed by cooling relations between Iran and the West. Then, last year, Iranian artists accounted for more than half of the £2.1 million ($2.7 million) revenue generated at Sotheby's Middle East auction in London.
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A New Chapter In International Development Finance?
In a bid to compete with China's global activity in the infrastructure and development assistance space, the United States is updating its development finance apparatus through the Better Utilization of Investments Leading to Development Act (the "BUILD Act").
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Perspective: Where are the opportunities in the Saudi educational sector?
In addition to not complying with the fees and Saudization process, this led to about 30 percent of private schools operating in the local market going out of business.
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Interview: Is Saudi becoming the preferred haven for regional startups?
In an exclusive, AMEinfo spoke to Fadi Alawami, an entrepreneurship expert and SME consultant who echoed this sentiment, providing insights on the startup eco-system in Saudi.
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Commentary: Why Would a Saudi Oil Fund Borrow $11 Billion?
“It is important to establish a core banking group as we continue to expand our activities and develop into one of the most prominent users of banking services in the region,” Al-Rumayyan said in a statement.
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The Secret to Effective Foreign Aid? Sometimes, It’s Giving Cash
How can we innovate in the huge, $140 billion foreign aid sector? The same way we do in the private sector: routine evaluations of what’s working well and what isn’t.
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Could Oil Demand Peak in Just Five Years?
The time left before global demand for crude peaks is increasingly tightening, according to new projections from industry analysts. Two reports published this week point to an end of oil’s growth within the next five years, far earlier than many in the industry are expecting.
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Analysis: The Start Of Saudi Arabia’s Power Play?
Shaky emerging market developments have been bearish for oil prices lately, with WTI falling to $68 per barrel by the end of the trading week after a $70 per barrel mid-week peak and Brent decreasing to $76.7 from a $79.5 per barrel peak on September 4.
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Commentary: The Idlib offensive could create a major refugee outflow—What should Turkey do?
In addition to its local population, Idlib is home to large numbers of civilians and rebel groups forcefully evacuated from other parts of the country that were formerly controlled by the opposition.
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Will the ‘Amazon effect’ take hold in the Middle East?
It found the Amazon effect was not only keeping prices low due to the higher volume of e-commerce platforms, but that traditional retailers had become more nimble on price, changing them more frequently and offering more consistency for the same items across different locations.
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