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Saudi Arabia forms global alliance in support of Israeli-Palestinian two-state solution
- September 30,2024
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- SUSTG Team
European, Arab and Islamic nations have launched an initiative to strengthen support for a Palestinian state and its institutions, and prepare for a future after the war in Gaza.
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Middle East accounts for 7.5% of global crypto volume
- September 27,2024
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- SUSTG Team
According to Chainanalysis’ 2024 Geography of Cryptocurrency Report The Middle East & North Africa (MENA) region ranks as the seventh-largest crypto market globally in 2024.
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Epic Boeing 777 journey by land captivates Saudis
- September 18,2024
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- admin
Three retired Saudia Airlines Boeing 777s traversed Saudi Arabia by land from Jeddah to Riyadh to be part of the Riyadh Season 2024 Boulevard Runway zone.
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KSA FDI outlook
- September 17,2024
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- SUSTG Team
Saudi Arabia’s net FDI rose 5.6% in Q1 2024 with tourism investment leading the way along with construction, electronics, and financial service sectors, among others. The United States is the home country for 333 ongoing and announced projects; by far the leading country.
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Saudi anti-corruption law strengthened
- August 28,2024
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- admin
Saudi Arabia’s Council of Ministers recently enacted a stringent new law designed to tackle corruption among government employees.
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Saudi non-oil economy continues growth
- August 27,2024
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- SUSTG Team
Jadwa Investments’ August 2024 macroeconomic update showed robust growth in non-oil activity.
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KSA and it’s summer power surge challenge
- August 19,2024
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- SUSTG Team
In terms of oil consumption used for its electricity sector Saudi Arabia matches the entire oil consumption of Italy, Spain or Turkey. The kingdom’s oil for power use spikes over 1 million barrels per day in summer to generate power and water.
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Tourists to KSA spend over $37b in 2023
- August 16,2024
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- SUSTG Team
The Ministry of Tourism released it’s annual tourism statistics report for 2023 this week reflecting significant growth in tourist numbers and spending.
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Saudi Arabia leads GCC IPO momentum in Q2 2024
- August 14,2024
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- SUSTG Team
In Q2 2024, the GCC witnessed a significant uptick in IPO activity, with 13 listings raising a combined $2.64 billion. This surge in capital was primarily focused on the healthcare, education, and technology sectors.
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Saudi Arabia Updates Investment Law
- August 12,2024
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- SUSTG Team
Building on previously announced reforms under Vision 2030 and the National Investment Strategy, the Cabinet has approved an updated investment law for Saudi Arabia. The updated law brings together several existing freedoms and rights and expressly applies them to investors under one unified framework, providing investors with greater transparency, flexibility and confidence.
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Saudi Arabia join US-UAE-Egyptian mediation bid to end conflict in Sudan
The sources stated that the mediation efforts seek to bring together Commander of the Sudanese Armed Forces Lt. Gen. Abdel Fattah Al-Burhan and Commander of the Rapid Support Forces Mohamed Hamdan Dagalo in the Saudi capital Riyadh in the coming weeks. For his part, US Secretary of State Antony Blinken said on Monday that the United States is in close contact with Sudanese military leaders to extend the ceasefire, and to explore options for restoring the diplomatic and consular presence of Sudan as soon as possible.
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Perspective: Ahead of Arab summit, Saudi Arabia repositioning as regional mediator
The Saudis may be willing to play a major role in returning Syria to the fold by the price may be a political solution plan where the Syrian regime agrees to serious reforms such as the return of refugees, the release of prisoners and greater inclusion of the opposition in their political system. While they may just be looking at bringing Syria back into the Arab fold, it is also critical to address the underlying issues that are isolating Syria from the international community, and in particular the US.
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Saudi Arabia appoints former Asharq al-Awsat editor as minister of media
Al-Dosary is a well-known figure in the Kingdom’s media industry, having been editor-in-chief of Asharq al-Awsat newspaper from 2014 to 2016. He replaces Majid al-Qasabi, who has been acting Minster of Media since February 2020. A separate decree issued on Sunday also appointed Lieutenant General Muhammad bin Amer al-Harbi as Deputy Chief of the General Intelligence Directorate.
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New details revealed for major media hub in Saudi Arabia
“We’ll have 10 soundstages by the end of 2023, including a volumetric stage,” said Borg, adding that its “end-state” media hub will have a footprint of around 1 million square metres. “We’ve hosted nearly 30 productions in the last 18 months, ranging from multimedia shoots for Vogue right through to Desert Warrior, a $150m feature film that is the region’s largest ever film and on which we had 450 to 500 cast and crew on set every day for nearly six months,” said Borg.
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New details revealed for major media hub in Saudi Arabia
“They ask about facilities and I say we’ve got dedicated cast and crew accommodation today of about 350 units, in addition to the hotels in the area. That’s going to continue to grow and we’ll have about 500 units by the end of this year. The other big question is access. We’ve got our own international airport with direct flights to London Heathrow weekly and direct flights to Dubai.”
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Egypt’s Sisi seeks to tamp down media clash with Saudi Arabia
The spat developed after two prominent Saudi commentators close to the monarchy, Turki al-Hamad and Khalid al-Dakhil, posted tweets in recent weeks criticising development failures since Egypt's 1952 revolution and the dominant role of the military in the economy. Their posts were subsequently deleted. In an apparent riposte last week, Abdel Razek Tawfiq, editor-in-chief of Egyptian state-owned newspaper Al Gomhuria, wrote an editorial arguing that the "barefooted" and newly-wealthy countries had no right to insult Egypt.
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Saudi Arabia did not mediate in Griner release, White House says
The release of basketball star player Brittney Griner was negotiated between the United States and Russia only, the White House said on Thursday, denying a Saudi Arabia statement that it was involved. "The only countries that negotiated this deal were the United States and Russia," White House press secretary Karine Jean-Pierre said, when asked about Saudi Arabia's role. "There was no mediation involved."
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China’s Xi to visit Saudi Arabia from Wednesday: Saudi state media
Chinese President Xi Jinping will arrive in Saudi Arabia on Wednesday for a three-day visit, his first to the world's biggest crude oil exporter since 2016, Saudi state media reported on Tuesday.
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Saudi Arabia extends term for $5 bln deposit in Egypt’s c.bank- state media
Gulf states have deposited at least $13 billion with Egypt's central bank to support its economy so far this year, bringing their total deposits to $28 billion, according to central bank and finance ministry data. That includes a further $5.3 billion of longer-term deposits from Saudi Arabia due to mature in the second half of 2026.
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Saudi Arabia extends term for $5 bln deposit in Egypt’s c.bank – state media
Saudi Arabia has extended the term for a $5 billion deposit it made to Egypt's central bank, state news agency SPA said on Tuesday, without saying how long the extension would be. In March, Saudi Arabia made a $5 billion deposit in the central bank as Egypt came under increasing financial pressure following Russia's invasion of Ukraine, which pushed up oil and wheat prices and hit tourist numbers from Russia and Ukraine.
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