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Recent stories from sustg
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Soft Opening for New $7.2 Billion Jeddah Airport Set for May
- February 26,2018
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- SUSTG Team
Jeddah’s King Abdulaziz International Airport is set to unveil its long-awaited new look at a soft opening in May, the Jeddah-based Saudi Gazette reports, citing confirmation by the General Authority of Civil Aviation (GACA) and the emir of Mecca. Once recognized by travelers as one of the worst airports in the world, Saudi Arabia’s second largest city is […]
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King Salman Opens Annual Janadriyah Festival as Kingdom Puts Saudi Culture On Display
- February 8,2018
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- SUSTG Team
Saudi Arabia’s King Salman on Wednesday attended the opening ceremony of the Kingdom’s 32nd National Festival for Heritage and Culture, held in Janadriyah village on the northern outskirts of Riyadh. The annual festival, known as the Janadriyah Festival, is a vibrant display of Saudi cultural traditions and heritage, and lasts 18 days. The festival’s first day saw King […]
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JLL Research: 2018 a ‘Year of Implementation’ for Saudi Arabia
- February 1,2018
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- SUSTG Team
A recent report by international real estate company Jones Lang LaSalle said that 2018 would be a “year of implementation” for Saudi Arabia following a historic 2017 in which Saudi Arabia saw great social and economic change. JLL predicts that recent reforms enacted by King Salman and Crown Prince Mohammed bin Salman will “translate positively” to the economy and […]
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Saudi Arabia Releases Prince Alwaleed bin Talal and Three Other Prominent Detainees
- January 29,2018
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- SUSTG Team
Just hours after a Reuters interview with reporter Katie Paul, Prince Alwaleed bin Talal was released from his cushy confines in the Ritz Carlton, Riyadh, where he and other prominent businessmen and royals have been detained in a crackdown on corruption in Saudi Arabia that started in November. Prince Alwaleed gave a tour of his large […]
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Report: Locations Scouted for Potential Nuclear Power Plant Sites in Saudi Arabia
- January 25,2018
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- SUSTG Team
Saudi Arabia is eying initial work on two sites for its first nuclear power plants, a report in MEED said, as the Kingdom looks to bolster alternative sources of energy to free up oil for export and power the growth needed for its Vision 2030 program. The kingdom has shortlisted two sites “and has invited […]
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Bloomberg News, MiSK Launch Course in Dubai to Train Aspiring Saudi Journalists
- January 16,2018
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- SUSTG Team
Bloomberg news and Saudi Arabia’s MiSK Foundation have teamed up to launch a course on financial reporting to train aspiring Saudi journalists, according to a report in Arab News. The intensive week-long course is taught at the Bloomberg Middle East headquarters in Dubai. 30 Saudi undergraduates, including 22 women and eight men, were chosen by MiSK […]
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Gas Prices Set to Rise 80% in Saudi Arabia as New Relief for Low Income Saudis Planned
- December 12,2017
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- SUSTG Team
Saudi Arabia will soon raise gasoline and jet fuel prices by 80% on consumers as part of broader economic reform plans meant to curb domestic consumption of oil that could be used for exports. The rise in prices is a result of the gradual elimination of energy subsidies that have long kept prices at world-leading […]
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Jadwa Investment Latest Chartbook Highlights ‘Improving Performance’ Indicators in the Saudi Economy
- December 5,2017
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- SUSTG Team
The latest edition of the monthly Chartbook from Jadwa Investment finds economic indicators showed improving performance during the month of October this year, citing a “notable improvement” in cash withdrawals from ATMs and POS transactions. The Riyadh-based bank also noted an $8.2 billion increase (in month-to-month terms) in SAMA FX reserves for the Kingdom, to $493 billion in […]
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No Big Outflow of Money from Saudi Arabia Yet as U.S. Treasury Monitors Situation – Reports
- November 17,2017
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- SUSTG Team
There has been no big outflow of money from Saudi Arabia as a result of the sweeping anti-corruption crackdown that was announced two weeks ago, according to central bank governor Ahmed Al-Kholifey. In comments made to CNN and reported in Reuters, Al-Kholifey said Saudi Arabia is seeing “some increase, but it’s not that much,” and […]
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Trump Tweets U.S. Interest for Aramco IPO, but can the NYSE Compete?
- November 8,2017
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- SUSTG Team
President Donald Trump used his Twitter account to encourage Saudi Arabia to list shares of Saudi Aramco on the New York Stock Exchange (NYSE) as markets around the world compete for the sought-after listing. “Would very much appreciate Saudi Arabia doing their IPO of Aramco with the New York Stock Exchange. Important to the United […]
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MUST-READS
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Saudi AramcoSaudi Aramco in deals with foreign firms in push for local content
State oil giant Saudi Aramco signed deals with several foreign companies as part of a drive to expand the kingdom’s industrial base and manufacture a bigger share of products domestically.
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Saudi Oil StorageJapan, Saudi Aramco extend Okinawa crude storage deal
State-run Japan Oil, Gas and Metals National Corp (JOGMEC) said it signed a contract with the world's top exporter Saudi Aramco on Wednesday to extend a crude oil storage deal on the island of Okinawa by three years.
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Saudi AramcoSaudi Arabia Ready for Aramco’s Share Sale in Domestic Market
Saudi Arabia is ready for the initial public offering of Saudi Arabian Oil Co. in the domestic market, with additional work needed if there is a decision to sell shares in more than one country, according to the vice chairman of the kingdom’s market regulator.
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Saudi AramcoSaudi Aramco inaugurates $800 million cultural center in Dhahran
Saudi Aramco opened an $800 million cultural center in Dhahran on Thursday, underlining the wide range of commitments the world’s biggest oil company has made as the kingdom tries to transform its economy.
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AramcoSaudi Aramco scientists achieve new world record
This achievement opens the door for us to simulate the Saudi Arabian peninsula in its entirety, as one model, using the reservoir simulation grid.
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Aramco IPOPromise of $1bn fees from Saudi Aramco IPO has London bankers in a frenzy but greater transparency is the real prize
The stake sale is expected to amount to only 5 per cent of Aramco’s total shares, but even that would amount to US$100 billion, which is four times what China’s Alibaba raised two years ago.
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Offshore Drilling RigsRowan, Saudi Aramco to create new offshore drilling company
Rowan (NYSE: RDC) has just disclosed its intent to form a joint offshore drilling company with Saudi Aramco. This is huge news for the offshore drilling market, so let's look at the details of the announcement.
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Aramco Training CentersSaudi Aramco training centers achieve world-renowned accreditation
After more than a year of hard work and dedication, Saudi Aramco has achieved a five-year accreditation award for 28 of our training centers.
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Aramco IPOAramco IPO to reveal true extent of Saudi oil reserves
But a lack of independent verification has left many to wonder if the country is sitting on significantly more or less oil than stated.
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Aramco IPOFinancial institutions vie for Saudi Aramco IPO bonanza
In picking arrangers, the Saudi government is expected to take into consideration the banks' contribution records and to try to obtain conditions favorable to the government.
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