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Another ‘Mixed Picture’ for Saudi Economy as Data Show Negatives on Consumer Spending, Inflation Down
- January 3,2017
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- SUSTG Team
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
- December 29,2016
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- SUSTG Team
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
- December 28,2016
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- SUSTG Team
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
- December 20,2016
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- SUSTG Team
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
- December 15,2016
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- SUSTG Team
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
- December 12,2016
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- SUSTG Team
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
- December 6,2016
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- SUSTG Team
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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Saudi Arabia Needs $53b in Water Investment as Sector Looks Toward Privatization
- November 28,2016
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- SUSTG Team
Saudi Arabia will need $53 billion in water sector investment supported by private funds as the Ministry in charge of the sector said it was looking to privatize in order to meet demand, government leaders said. The comments were made by officials from Saudi Arabia’s Ministry of Environment, Water and Agriculture, and Saudi Arabia’s […]
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Saudi, Russia Energy Ministers to Meet in Doha as Output Cut Deadline Looms
- November 16,2016
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- SUSTG Team
Saudi Arabia and Russia energy ministers will meet in Doha, Qatar this week on the sidelines of Gas Exporting Countries Forum (GECF), industry sources quoted by the Wall Street Journal said. The meeting comes as OPEC and non-OPEC members try to solidify an oil output limiting deal agreed to in September. OPEC is hoping to complete […]
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Saudi GDP to Grow at 1.8%, Central Bank Says in Annual Report
- November 14,2016
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- SUSTG Team
The Saudi Arabian Monetary Agency (SAMA) expects gross domestic product to grow 1.8 percent this year, the central bank said in its 52nd annual report released on Monday. The figure is higher than the IMF forecast of 1.2%. The non-oil sector is expected to expand 2.5 percent and the oil sector, 1.2 percent, SAMA said. Real economic […]
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Gulf Energy LoansSaudi Aramco Leads Surge in Gulf Energy Loans After Oil’s Plunge
Lending rose as state-run companies including Kuwait National Petroleum Co. took advantage of falling borrowing costs. The J.P. Morgan Middle East Composite Index of the region’s debt yield, an indication of borrowing rates, is at the lowest since November 2015.
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Saudi Aramco IPOEvery Banker in the World Is Chasing the Saudi Aramco Deal
When news broke in January that Saudi Arabia was considering an initial public offering of its state-owned oil company, the first reaction on Wall Street was shock. Then calls began pouring into Dubai -- the Middle East’s financial hub -- from senior bankers in London and New York.
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Saudi Aramco IPOThe Global Stakes of a Saudi Aramco I.P.O.
If Aramco lists only on the Saudi exchange, the I.P.O. will swamp the current market.
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Renewable EnergySaudi Aramco, GE to install first wind turbine in Saudi Arabia
Saudi Aramco and GE have announced they are partnering to install Saudi Arabia's first wind turbine at the Turaif Bulk Plant, located in the north-west of the Gulf kingdom.
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Energy ReservesSaudi Aramco finds fields, focuses on rigless technologies
The new discoveries and reserves maintained Saudi Aramco’s crude oil reserves at 261.1 billion barrels. Total gas reserves rose to 297.6 Tcf, the firm says.
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Saudi Aramco IPOSaudi Aramco IPO: The Biggest Fee Event in Wall Street History
Some deals only happen once in a blue moon. Others only come around once in a generation. But the one Wall Street bankers are eyeing in the deserts of Saudi Arabia is going to need a new set of superlatives.
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Saudi Aramco IPOSaudi Aramco listing lures banks with prospects of game-changing deals
Investment banks are jostling to take part in the listing of a chunk of Saudi Arabia's state-owned oil giant Aramco as a portal to the lucrative deals they expect to flow from the kingdom's plan to revamp its economy.
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Saudi Aramco IPOHow Saudi Aramco IPO could be ‘highly deflationary’ for oil
Why now? That’s the question surrounding Saudi Arabia’s planned listing of a portion of its massive national oil company.
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Solar EnergySaudi Aramco sees PV storage as most economic at under 4 storage hours
PV with lithium-ion battery storage is more cost-competitive than CSP for storing up to four hours of energy, based on today’s technology and cost, said Tim Polega, executive head of Saudi Aramco's renewable energy program.
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Saudi Aramco IPOSaudi to retain key decision-making for Aramco after IPO
The taxation and accounting of Aramco would require “extensive rewiring”, Mr Falih said. Projects undertaken on behalf of the government rather than for the commercial entity would have to be “delineated”.
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