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World Bank’s Women, Business and the Law Report says Saudi Arabia Top Reformer, Improver Among 190 Economies
The Kingdom of Saudi Arabia has realized a remarkable leap in the World Bank’s Women, Business and the Law 2020 report, with a score of 70.6 out of 100 and achieving the honor of being the top improver over the last year, according to reports.
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Saudi Arabia launches third phase to build up solar power capacity, invites bidders for new projects
Saudi Arabia’s energy ministry has issued a request for qualifications for the third round of the Kingdom’s National Renewable Energy Program (NREP), which comprises of “four Solar PV projects with a combined generation capacity of 1,200 MW,” the Saudi Press Agency said.
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Saudi Arabia’s Spending Cuts Could Reduce the Kingdom’s ‘Fiscal Vulnerabilities’ to Oil Price Fluctuation, IIF Says
Saudi Arabia will lower government spending in 2020 as the Kingdom’s economic and social reforms start to kick in. That could help reduce Saudi Arabia’s medium-term fiscal vulnerabilities to lower oil prices, the Institute of International Finance (IIF) said, and put Saudi on track for a balanced budget by 2023.
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Saudi Arabia to Grant Citizenship to ‘Scientists, Intellectuals and Innovators’ From Around the World
In a bid to attract top talent and spark innovation in the Kingdom, Saudi Arabia has announced that it would grant full citizenship to “scientists, intellectuals, and innovators” from key sectors and focuses, according to reports.
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Saudi Arabia Gears Up to Host G20 Summit; Saudi FM Travels to Japan for Ceremony
Saudi Arabia is making major preparations to host the annual gathering of the leaders of the Group of 20 (G20) nations next year in Riyadh, the 15th meeting of the group that is set to thrust the city into the global spotlight. The meeting will be held on November 21–22, 2020, and will be chaired […]
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Saudi Aramco to Seek $1.7 billion valuation with 1.5% Share Float; Cancels International Roadshow
Saudi Aramco is seeking a valuation of up to $1.7 trillion, which would become the world’s biggest IPO and confirm the company as the world’s most valuable. The valuation is below the initial $2 trillion sought by Saudi Arabia’s leadership. The Kingdom is hoping to raise $30 billion on the local Tadawul index by offering 1.5% of the […]
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MODON, GAMI Ink Deal to Promote Investments in Saudi Arabia’s Defense Sector
A new strategic cooperation between the Saudi Authority for Industrial Cities and Technology Zones (MODON) and the General Authority for Military Industries (GAMI) aims to encourage the localization of military industries in the Kingdom, according to the Saudi Press Agency (SPA). The new cooperation “supports the localization of 50 percent of the expenditure in military industries through […]
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Saudi Aramco targets zero flaring by 2030
Saudi Aramco said on Wednesday it was joining the World Bank’s initiative to reduce gas flaring to zero by 2030, and said its flaring was already less than 1% of its total raw gas production in the first half of 2019, Reuters reports. The announcement comes as the company began this week the process of floating shares […]
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Saudi Arabia Names Prince Faisal bin Farhan as New Foreign Minister
Saudi Arabia appointed Prince Faisal bin Farhan Al-Saud as the Kingdom’s new foreign minister as part of a larger reshuffling of the cabinet. Prince Faisal bin Farhan is the third foreign minister in three years. He replaces Ibrahim Al-Assaf, who was relieved of his post and appointed minister of state and a member of the Saudi Council of […]
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Saudi Aramco delays planned IPO until after earnings update, seeks local listing
Saudi Aramco has delayed the planned launch of its initial public offering “in hopes that pending third-quarter results will bolster investor confidence in the world’s largest oil firm,” Reuters reports, citing two sources familiar with the matter. The slight delay allows Saudi Aramco to reassure investors by first presenting results covering the period in which two […]
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What Is The Taliban’s ‘Red Unit’? Jihadi Special Forces Are Using Russian, U.S. Tech For Attacks
The development of a Taliban special forces unit appears to be not only directed at improved combat skills for use against Kabul, but ISIS too. The growing infighting between the jihadi groups in the country has given rise to defections, betrayals and executions of their own fighters.
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Analysis: Saudi Arabia’s crown prince wants to reengineer his country. Is that even possible?
Saudi Arabia’s powerful crown prince, Mohammed bin Salman, isn’t just consolidating power before his probable ascent to the throne. He’s also trying to remake Saudi society.
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Sale of the century? $300-billion Saudi state sell-off moves slowly
The main problems they cite are heavy bureaucracy, an inadequate legal framework, frequent changes of priority in government departments and fatigue among investors.
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What is Saudi Arabia’s end game in Iraq?
The Saudi policy of building ties among Shia politicians has taken advantage of fissures within the Iraqi elite with the goal of undermining Iranian dominance in the country
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Israel and Saudi Arabia: New best friends in the Middle East?
In light of a shared perception of threat from Iran, Israel and Saudi Arabia have opened a new chapter in diplomatic relations. The move could lead to an entirely new political power balance in the Middle East.
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What’s Dangerous About Donald Trump’s Foreign Policy?
His unorthodox approach has frightened some observers. But it’s his more conventional moves that have cost the most lives.
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Trouble in sport’s paradise: Can Qatar overcome the diplomatic crisis?
That leaves Qatar with the issue of the integrity of its bid, which may be in terms of public diplomacy the toughest nut to crack. On the principle of where there is smoke, there is fire, Qatar is in a bind.
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No ZIP codes, cash on delivery: So can Middle East online shopping ever take off?
Despite high levels of digital penetration, the region's e-commerce sector is lagging behind other markets. "E-commerce accounts for only around 0.71 percent of the region's total GDP at present, compared with three percent for the rest of the world and as much as five percent in some countries such as the US," noted Arabian Business.
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Economics 101: Is Saudi Arabia right to pursue austerity?
It is no coincidence that the Saudi government is pursuing austerity at the same time as it is tackling corruption or launching mega cities - the common thread is attracting foreign capital.
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Commentary: Has Kushner given Riyadh carte blanche?
The State and Defense departments have urged Riyadh and Abu Dhabi to ease their pressure campaigns on Qatar and Lebanon and improve aid access in Yemen to avert catastrophic famine. But Saudi and Emirati officials have suggested to US diplomatic interlocutors that they feel they have at least tacit approval from the White House for their hard-line actions, in particular from President Donald Trump and his son-in-law and senior adviser, Jared Kushner, who Trump has tasked with leading his Middle East peace efforts.
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