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Recent stories from sustg
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Report: Saudi Aramco Considering Tokyo For International Listing
- August 30,2019
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- SUSTG Team
Saudi Aramco is considering Tokyo as the international destination to list its shares, according to an exclusive report in The Wall Street Journal on Thursday. Saudi Aramco is “considering a plan to split the world’s largest IPO into two stages, offering a portion of its shares on the Saudi stock exchange later this year and following up […]
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Secretary Pompeo, Saudi Deputy Defense Minister Prince Khalid bin Salman Meet in Washington
- August 29,2019
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- SUSTG Team
Secretary of State Mike Pompeo and Saudi Deputy Defense Minister Prince Khalid bin Salman met in Washington D.C. yesterday to discuss the ongoing war in Yemen and other U.S.-Saudi defense related topics. “On Yemen, the Secretary reiterated U.S. support for a negotiated resolution between the Republic of Yemen government and the Southern Transitional Council, and thanked […]
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Almarai Company Solar Project Set to be Kingdom’s Largest, For Now
- August 22,2019
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- SUSTG Team
Saudi Arabia food and beverage conglomerate Almarai has completed a solar project which is being billed as Saudi Arabia’s largest to date, according to a report. The 15MW Al Kharj Solar project, built at a cost of SAR44.4 million (around $12 million), will generate 28GWh of solar power every year, according to the company. Almarai said Al […]
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Saudi Aramco Reports $47 Billion in Earnings; Plans to Buy Reliance Refining Stake
- August 12,2019
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- SUSTG Team
In its first-ever half-year earnings report, Saudi Aramco said the company had earned a net income of $46.9 billion in the first half of 2019, a 12 percent decrease from $53 billion in the period a year earlier, when oil prices were higher. Saudi Aramco partly attributed the decline in net income to a 4% fall in the average […]
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Senate Fails to Override Trump’s Veto of Saudi and UAE Defense Sale Bans
- July 30,2019
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- SUSTG Team
The U.S. Senate failed to override President Donald Trump’s vetoes of legislation passed by Congress that would have blocked the sales of certain weapons to Saudi Arabia and the United Arab Emirates, meaning the transactions may proceed forward. Supporters of the ban won a voice vote of 45-40 in the Senate, roughly 21 votes short of […]
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Trump Vetoes Three Bills Limiting U.S. Military Sales to Saudi Arabia and UAE
- July 25,2019
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- SUSTG Team
President Trump vetoed three congressional resolutions aimed at blocking his administration from selling billions of dollars of weapons to Saudi Arabia and the United Arab Emirates. “This resolution would weaken America’s global competitiveness and damage the important relationships we share with our allies and partners,” the president said in a statement on Wednesday. The arms package included […]
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Aramco Expats’ The Seven Wonders of Arabia, a Tribute to the Kingdom’s Remarkable Heritage Sites – Part 4: The Rock Art of the Ha’il Region
- July 19,2019
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- SUSTG Team
Aramco Expats, an online blog that is a resource for current and former Saudi Aramco expatriates and their families, recently published a series of excellent blog posts on the seven wonders of the Arabia – the best heritage sites and historical places in the Kingdom. In the fourth installment of the series of seven, Aramco Expats chose the […]
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Saudi Arabia approves new tendering and procurement law – report
- July 17,2019
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- SUSTG Team
Saudi Arabia’s government has approved a law to improve the way it procures contracts and services “by saving money, making the process fairer, and boosting local bidders,” Reuters reports, citing information from the Ministry of Finance. The new Government Tendering and Procurement law is an “important measure” within Vision 2030 reforms as it helps to improve the […]
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Dates Set for Saudi Arabia’s Future Investment Initiative 2019
- July 5,2019
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- SUSTG Team
Saudi Arabia’s Future Investment Initiative (FII) will take place from 29-31 October in Riyadh, the event’s official Twitter page said in an announcement. Dubbed “Davos in the Desert,” the FII brings together world leaders, investors and innovators will explore the opportunities, trends, and challenges shaping the global investment landscape. Attendees will gather to “continue to discuss the […]
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Aramco Expats’ The Seven Wonders of Arabia, a Tribute to the Kingdom’s Remarkable Heritage Sites – Part 3: Ad Diriyah
- June 28,2019
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- SUSTG Team
Over the course of seven weeks, SUSTG is publishing a series of posts highlighting the seven wonders of Arabia as selected and featured by AramcoExpats.com, an online blog that is a resource for current and former Saudi Aramco expatriates and their families. As the Kingdom prepares to open itself up to more visitors and boost its tourism industry in line with Vision […]
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MUST-READS
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Saudi-ChinaSaudi Aramco Boosts Oil Investment In China’s Downstream
Saudi Aramco signed on Thursday an agreement with the Zhejiang Free Trade Zone in China to facilitate the acquisition of 9 percent in a local refinery and further expand its downstream presence in the world’s largest oil importer.
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Saudi Aramco IPOSaudi Aramco signs MoU with China’s Zhejiang Free Trade Zone
Oil producer Saudi Aramco signed a memorandum of understanding (MoU) with China’s Zhejiang Free Trade Zone in eastern China to expand downstream investment, the company said in a statement on Thursday.
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AfricaChina’s growing presence in Africa
For two decades now, Beijing has prioritized relations with African states, looking at them as a place for trade and not trouble. As the US focused on Africa through a security lens and Europeans increasingly fixated on immigration, China invested in mega infrastructural projects ranging from ports to passenger rails.
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Saudi Oil ExportsSaudi Arabia dramatically changing its oil exports to China and the US
Saudi Arabia’s crude shipments to China have doubled in the span of a year. During the same period, its oil exports to the U.S. have dropped by nearly two-thirds.
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China in the RegionDiversified Investment in UAE Shaping China’s Economic Role in the Gulf
Despite a large regional appetite for Chinese investment and trade, the UAE has emerged as China’s primary economic partner in the Gulf. Chinese investments and contracts in the UAE totaled $8.16 billion in 2018 – eclipsing the second-largest recipient, Saudi Arabia, by nearly $3.4 billion, according to the American Enterprise Institute’s China Global Investment Tracker.
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U.S.-ChinaThe U.S. Could Lose a War With China
But the sheer number of ships, missiles, planes, and people doesn’t tell the whole story. What already gives the Chinese the advantage is geography.
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Iran Nuclear AgreementEuropeans, China, Russia to meet Iran in Vienna on July 28
Britain, France, Germany, Russia and China will meet Iran in Vienna on July 28 to discuss how to save the 2015 nuclear deal, the EU’s foreign policy service said in a statement on Tuesday.
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Saudi Oil PolicySaudi Arabia has been exporting more crude oil to China, less to the United States
Saudi Arabia’s crude oil production approached a four-year low in May 2019, averaging an estimated 9.9 million barrels per day (b/d), more than 1 million b/d lower than its all-time high in November 2018.
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China Foreign PolicyChina says US ‘power politics’ undermines global stability
China on Wednesday accused the United States of undermining global stability with unilateral policies and “power politics” as the Defense Ministry issued the first comprehensive outline of its policies since President Xi Jinping came to power more than six years ago.
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Autonomous VehiclesChina’s Neolix to trial autonomous vehicles in Saudi, UAE
China's Neolix has signed a preliminary agreement with Middle East e-commerce company noon to trial autonomous vehicles in Saudi Arabia and the United Arab Emirates.
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