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UAE, Saudi Arabia to form new ‘Joint Cooperation Committee’
- December 5,2017
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- SUSTG Team
The United Arab Emirates on Tuesday announced it has formed “a new economic and partnership group” that is a “joint cooperation committee” with Saudi Arabia, separate from the Gulf Cooperation Council, in a move that further emphasizes Saudi-UAE alignment amid a diplomatic crisis with member state Qatar. The Emirati Foreign Ministry announcement was made just hours ahead of a […]
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Citigroup Saudi Arabia to be ‘Fully Operational’ in 1Q 2018
- November 15,2017
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- SUSTG Team
Citigroup will be “fully operational” in Saudi Arabia in the first quarter of 2018 after an absence of more than a decade, according to reports, as it seeks to capitalize on opportunities in debt and equity capital markets. The new business will be branded as Citigroup Saudi Arabia and will offer a full range of investment banking, debt […]
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Markets Rattled by Saudi Shake-Up, Rising Regional Tensions
- November 10,2017
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- SUSTG Team
Rising tensions between Saudi Arabia and Iran, as well as the kingdom’s crackdown on corruption last week that has seen over 200 jailed and $100b in assets frozen, have rattled markets in the region and kicked off efforts for wealthy Saudis to move money abroad, according to reports. In Lebanon, where tensions are escalating between the two […]
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Al-Jubeir: ‘There Is No Doubt’ Iranian-Built Missile Shot from Yemen ‘Act of Aggression’
- November 7,2017
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- SUSTG Team
Saudi Arabia’s Foreign Minister Adel Al-Jubeir said that Saudi Arabia had the right to defend itself against Iran and would take “appropriate” actions to counter Iranian aggression against the Kingdom, according to an interview the foreign minister gave to CNN. On Saturday, Saudi Arabia said it intercepted a missile shot from Yemen that nearly reached Riyadh’s […]
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Saudi Arabia Takes Significant Step Toward Formal Tender for Peaceful Nuclear Power Plants
- October 31,2017
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- SUSTG Team
Saudi Arabia has sent a request for information (RFI) to international suppliers to build two nuclear power plants, a first step towards a formal tender, three sources told Reuters. Saudi Arabia has announced plans to extract uranium domestically as part of its nuclear power program and will start building its first nuclear reactors next year. Extracting […]
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Crown Prince Mohammed bin Salman Makes Rare Public Speaking Appearance at Conference in Riyadh, Announces New Megacity
- October 24,2017
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman made a rare public speaking appearance today at the Future Investment Initiative conference, organized by Saudi Arabia’s Public Investment Fund (PIF). The Forum in Riyadh, with attendance by chief executives of BlackRock Inc. and Blackstone Group LP and leaders from Goldman Sachs Group Inc. and J.P. Morgan Chase […]
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Keeping Track of Saudi Arabia’s Public Investment Fund’s Expanding Footprint
- October 19,2017
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- Lucien Zeigler
Saudi Arabia’s Public Investment Fund (PIF) has created a handful of new companies in several sectors in the Kingdom while investing in many others, injecting capital and a new competitor in the housing, energy, waste and recycling, tourism, transportation sectors and more. As the PIF’s role in the Saudi economy increases, critics say the mega-fund will crowd out private […]
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Goldman Sachs Head Lloyd Blankfein Visits Saudi Arabia, Calls Changes in Kingdom ‘Striking’
- September 29,2017
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- SUSTG Team
Goldman Sachs Group’s CEO visited Saudi Arabia this week and praised the Kingdom’s reform efforts on Twitter, calling the progress in Saudi Arabia “striking.” Lloyd Blankfein visited Saudi Arabia after speaking on a panel with the managing director of Saudi Arabia’s sovereign wealth fund, Yassir Al-Rummayan, on September 20th. In comments on that panel, Blankfein said Saudi […]
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With Historic Decree on Saudi Women Driving, An Economic and Social Game-Changer
- September 27,2017
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- SUSTG Team
Saudi women and champions of equal rights around the world embraced a decision by Saudi Arabia’s King Salman to allow women to drive for the first time, a landmark royal decree that will change the Kingdom’s economy and society in countless ways. Saudi Women will now be able to legally apply for their own driving licenses without having to secure […]
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‘NTP 2.0’ Keeps Key Policies and Privatization Plans in Place, Report Says
- September 8,2017
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- SUSTG Team
Revision to Saudi Arabia’s National Transformation Plan (NTP), dubbed ‘NTP 2.0’ that was released a year ago will keep key policies of fiscal reforms and a massive privatization program in place, sources familiar with the matter told Reuters. “It is looking increasingly unlikely that some of the targets can be hit by their 2020 deadline, however, partly […]
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YemenYemen ex-president amassed up to $60 billion, colluded with rebels: U.N. experts
Yemeni ex-president Ali Abdullah Saleh is suspected of corruptly amassing as much as $60 billion, equivalent to Yemen's annual GDP, during his long rule, and colluding in a militia takeover last year, U.N.-appointed investigators have told the Security Council. The report by the world body's Panel of Experts on Yemen echoes criticism by his opponents that Saleh's rule from 1978 to 2012 was marred by graft, and that even out of office he is fomenting instability - allegations he has consistently denied.
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YemenYemen Houthis take over U.S.-trained special forces base in Sanaa
Armed men from Yemen's newly dominant Houthi group took over a special forces army base in the capital Sanaa early on Wednesday, soldiers there said. The clashes, which lasted around six hours, started late on Tuesday when Houthis shelled the camp with heavy weapons, soldiers from the camp said. At least 10 people were killed.
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Yemen in CrisisAnalysis: Can Hadi lead Yemen out of crisis?
Less than a week after the United Nations Security Council adopted Resolution 2201, the political landscape in Yemen has been further complicated by President Abd-Rabbu Mansour Hadi's surprising escape from the Houthi-imposed house arrest.
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YemenYemen’s Hadi seeks to resume duties as president
Yemen's president sought to resume his duties as head of state on Sunday, holding his first public engagement with state officials since he fled house arrest in Sanaa by the Houthi group that dominates the northern half of the country.
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YemenYemen feuding parties agree on transitional council
Yemen's feuding parties have agreed on a "people's transitional council" to help govern the country and guide it out of a political crisis, UN mediator Jamal Benomar has announced.
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YemenPro-Hadi loyalists seize key buildings in south Yemen
Forces loyal to Yemen's detained president have seized strategic buildings in the southern city of Aden after accusing security forces there of working for Houthi fighters who control the capital, Sanaa.
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YemenUN Security Council to hold emergency meeting on Yemen
The United Nations Security Council was set to meet in emergency session Sunday evening to vote on a resolution demanding that Shiite rebels relinquish control of Yemen's government, as Arab countries pressed for the use of military force against what they call the rebel group's "illegitimate seizure of power."
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Crisis in YemenSaudi evacuates embassy staff from Yemen
Saudi Arabia has suspended operations at its embassy in Yemen and evacuated its staff due to the deteriorating situation in the capital Sanaa, controlled by a Shiite militia, the foreign ministry said Friday.
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YemenAl-Qaeda fighters overrun Yemeni military base, exploiting turmoil
In New York, U.N. Secretary General Ban Ki-moon warned during a briefing with the Security Council that Yemen was descending into chaos. “Yemen is collapsing before our eyes. We cannot stand by and watch,” he said, adding that the country must be pulled back “from the brink.”
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YemenSaudi Arabia frets over Iranian front emerging from Yemen chaos
The Houthis now control much of western Yemen, including the country’s second biggest port, military bases and the airport in the capital, and a weapons depot in Amran, north of Sanaa. They have seized the presidential guard, anti-terrorism forces equipped by the U.S. to fight al-Qaida militants, and brigades armed with tanks and Russian-made Scud rocket systems. In a speech broadcast Tuesday, al-Houthi remained defiant. Wearing traditional Yemeni clothes, with a curved dagger tucked into his waistband, he said he had no plans to relinquish control of the government and warned Western countries — specifically the U.S., France, and Britain — against meddling in Yemen’s affairs.
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