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Recent stories from sustg
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Uptick in US-Saudi Diplomacy including Secretary Kerry’s Praise for Saudi ‘Compassion’ for its $500m Humanitarian Pledge to Iraq
- July 2,2014
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- Lucien Zeigler
U.S. Secretary of State John Kerry lauded Saudi Arabia’s “compassion” and “generosity” after the Kingdom announced it would donate $500 million in humanitarian aid to all people of Iraq, regardless of ethnicity or religion, according to a release made public by the State Department. “Saudi Arabia has made an enormous and very significant commitment to help […]
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Ambassador Chas Freeman on US-Saudi Relations, Obama Visit
- June 30,2014
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- SUSTG Team
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Richard Wilson and the Saudi-US Trade Group (SUSTG) [Video]
- June 30,2014
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- SUSTG Team
SUSTG’s Richard Wilson interviewed by SUSRIS editor-in-chief Patrick Ryan, the first in a new series called FocusKSA.
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‘Observe Ramadan in the true spirit of Islam’
- June 28,2014
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- admin
Imams in mosques throughout the Kingdom, including those in Makkah and Madinah, welcomed on Friday the holy month of Ramadan with an immense sense of piety and requested their respective congregation to strictly follow the teachings of the Holy Qur’an during the fasting period. The Supreme Court in Riyadh called on all Muslims in the […]
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Needed Changes at Saudi Arabia’s Majlis As Shura Council
- June 9,2014
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- John Sfakianakis
A parliament is a legislature. More generally, “parliament” may simply refer to a democratic government’s legislature. The term is derived from the French parlement, the action of parler (“to speak”): a parlement is a discussion. The term came to mean a meeting at which such a discussion took place. It acquired its modern meaning as […]
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FocusKSA: An Interview with Abdulaziz Alhazmi, COO and Acting Director General of Saudi Arabian Airlines (Saudia)
- June 4,2014
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- Richard Wilson
On the eve of the 2014 Saudi Arabian Cultural Mission (SACM) Career Fair and Graduation Ceremony last week, I sat down with Abdulaziz Alhazmi, COO and Acting Director General of Saudi Arabian Airlines (Saudia). Saudia is a major sponsor of these events and Mr. Alhazmi was in Virginia to personally congratulate the 12,500 Saudi students […]
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2014 SACM Career Fair and Graduation: 9 Things to Know
- May 20,2014
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- Lucien Zeigler
If you’re attending the 2014 SACM career fair and graduation ceremony in the Washington, D.C.-area starting on May 24th, you’ll be joining thousands of other Saudi students in the U.S. for an excellent networking opportunity. Students on the King Abdullah Scholarship Program and their families come from around the country to celebrate their achievements and […]
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SMEs in Saudi Arabia: How the Supreme Economic Council Can Support SME Growth in the Kingdom
- May 20,2014
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- John Sfakianakis
SMEs (small and medium-sized enterprises) are key to an economy’s growth and account for 60% to 70% of jobs in most Organisation for Economic Cooperation and Development (OECD) countries, with a particularly large share in Italy and Japan, and a relatively smaller share in the US. The percentage contribution of SMEs to GDP/total value added […]
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The Euromoney Conference: Investment in Saudi Arabia – Sfakianakis
- May 16,2014
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- John Sfakianakis
Just recently Fitch upgraded the sovereign rating of Saudi Arabia to AA from AA-, denoting a stable outlook for the Kingdom. Fitch’s upgrade of Saudi Arabia’s sovereign rating makes it rank seventh within the G20 members, after the United States, Germany, Canada, Australia, Britain, France, and ahead of even Japan and China. Despite political upheaval […]
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Commentary | King Abdullah: Nine Golden Years of Prosperity and Stability – Mulhim
- May 6,2014
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- SUSTG Team
Saturday marked the 9th anniversary [on the Islamic calendar] of Custodian of the Two Holy Mosques King Abdullah’s accession to the throne and pledging of allegiance to him. When King Abdullah assumed the leadership of Saudi Arabia, the world in general and the region in particular was facing difficult times, as violence, instability and drastic […]
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MUST-READS
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Saudi Arabia reveals all 15 stadiums for the 2034 World Cup
Revealed as part of its official bid submission to FIFA, the 15 stadiums will be based in and around four cities – Riyadh, Jeddah, Al Khobar and Abha, as well as the under-construction The Line. In total 11 new stadiums are planned for the World Cup, with three currently under construction. The country's two current largest stadiums will be renovated, while two further existing stadiums will be temporarily expanded during the tournament.
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Saudi wealth fund signs $50 bln of deals with Chinese financial firms
Saudi Arabia's sovereign wealth fund PIF has signed six memorandums of understanding (MoUs) worth a total of $50 billion with leading Chinese financial institutions, the fund said in a statement on Thursday. The MoUs were signed with Agricultural Bank of China (ABC), Bank of China (BoC), China Construction Bank (CCB), China Export and Credit Insurance Corporation (SINOSURE), Export-Import Bank of China (CEXIM), and the Industrial and Commercial Bank of China (ICBC), the statement added.
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Top Saudi Chemical Firm Beats Profit Estimate in Sign of Rebound
The results will provide some relief for an industry that’s struggled with demand concerns in recent quarters. Global behemoth BASF SE reported lower second-quarter earnings while specialty-chemicals maker Lanxess AG flagged improvements but cautioned that it doesn’t see a broader market recovery yet. Sabic had itself earlier this year warned about “considerable uncertainty.”
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Saudi Arabia’s flynas flies over 7 million passengers in H1 2024
Saudi Arabia-based low-cost carrier flynas welcomed more than seven million passengers on board its flights in the first half of 2024, a 47 percent growth. The airline also reported a 37 percent increase in seat capacity for domestic and international flights during the period, compared with the same period of 2023, days after announcing the landmark purchase of 160 Airbus aircraft.
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Back-to-Back Assassinations in Middle East Scramble Biden’s Hopes for Peace
But Mr. Biden’s team vowed on Wednesday not to give up. U.S. officials spent the day reaching out to officials in Israel, Lebanon, Iraq, Qatar, Egypt, Jordan and Saudi Arabia in hopes of keeping the spiral of violence from escalating beyond limited strikes and salvaging a possible cease-fire deal after the dust settles. A team of American negotiators pursuing a cease-fire just left Rome, and another team was heading to Cairo from Saudi Arabia to continue the effort.
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Bomb Smuggled Into Tehran Guesthouse Months Ago Killed Hamas Leader
The bomb had been hidden approximately two months ago in the guesthouse, according to five of the Middle Eastern officials. The guesthouse is run and protected by the Islamic Revolutionary Guards Corps and is part of a large compound, known as Neshat, in an upscale neighborhood of northern Tehran.
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Khalid Sheikh Mohammed, accused as the main plotter of 9/11, agrees to plead guilty
After spending almost two decades in the U.S. military prison at Guantánamo Bay, Cuba, the alleged mastermind of the 9/11 terror attacks, Khalid Shaikh Mohammed, and two of his accomplices have agreed to plead guilty in exchange for sentences of up to life in prison rather than face a death-penalty trial.
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As international dollars flow towards AI-powered startups, how has MENA been riding the wave?
Saudi Arabia-based Intelmatix, a deep tech B2B startup focused on empowering MENA businesses with AI for decision-making, has recently secured a $20M Series A funding round—one of the largest for a regional company of this type. This past week also saw Saudi-based SaaS provider Velents AI join the AI funding frenzy, raising an undisclosed sum from Women Collective to fuel its growth. And just last week, Aramco’s venture arm, Wa’ed Ventures, splashed $15M on South Korean chipmaker Rebellions Inc., marking its debut investment in South Korea following a $6.5M investment in California-based aiXplain. That was Wa’ed Ventures’ second AI deal in one week!
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The rise of solar energy in Saudi Arabia
The best way to understand their changing approach is to look at the speed at which things are changing. Between 2022 and early 2024, Saudi Arabia added 2.1 gigawatts (GW) of renewable power capacity, a 300% increase from the 700 megawatts (MW) that was created between 2012 and 2022. According to a study by GlobalData, if they continue at their current pace, they could reach 31.5 GW of renewable energy by 2030 and 63.1 GW by 2035.
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JBS to open new chicken nugget plant in Saudi Arabia
JBS, the world’s largest poultry producer, will open a new plant in Jeddah, Saudi Arabia, where the company will produce chicken nuggets. The Brazil-based company invested $50 million in the facility, which is expected to begin operations in November. When fully operational, the plant will employ about 500 people.
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