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Recent stories from sustg
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Rents for Office Space in Riyadh Climb as Kingdom Pushes Local Headquarters Drive
- November 10,2021
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- SUSTG Team
Rents for premium office spaces in Riyadh rose over the last year, evidence that Saudi Arabia’s push to get international companies to make their regional headquarters in the Kingdom is starting to show results.
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Archaeologists in Saudi Arabia Excavate for Remnants of Ancient Kingdoms – Report
- November 2,2021
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- SUSTG Team
A team of French and Saudi archaeologists has begun work on excavating near Al-Ula in Saudi Arabia in hopes of discovering the remnants of the ancient and long-forgotten kingdoms of Dadan and Lihyan, according to a Reuters report.
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Saudi FM Prince Faisal bin Farhan, Ambassador Reema bint Bandar Meet with Secretary of State Blinken in Washington
- October 15,2021
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- SUSTG Team
Saudi Foreign Minister Prince Faisal bin Farhan Al Saud and Saudi Ambassador to the United States Princess Reema Bint Bandar Al-Saud met with U.S. Secretary of State Antony Blinken in Washington on Thursday, and “exchanged views on Iran’s nuclear program and international talks on the matter,” according to a statement from Saudi Arabia’s foreign ministry […]
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Premiere League Set to Give Saudi Green Light for Newcastle Takeover
- October 7,2021
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- SUSTG Team
Saudi Arabia’s PIF has cleared a significant hurdle in its quest to acquire a reported 80 percent stake in Newcastle United, according to reports.
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Saudi Arabia’s Tadawul Likely to End 2021 With 30 New Listings This Year – CMA Head
- September 27,2021
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- SUSTG Team
Saudi Arabia’s stock exchange will likely end the year with more than 30 new listings as the Kingdom’s IPO bonanza in 2021 continues, according to comments from the Kingdom’s head of its Capital Markets Authority Mohammed El-Kuwaiz. El-Kuwaiz made the comments on Monday at a conference in Riyadh, according to Reuters.
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Crown Prince Launches Major Education Reform with ‘Human Capability Development Program’
- September 16,2021
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- SUSTG Team
Saudi Arabia is set to undertake a top-to-bottom overhaul of the Kingdom’s education system to better prepare citizens to find jobs and tackle intolerance, according to an announcement on the Vision 2030 website and other reports.
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Non-Oil Sector in Saudi Arabia Loses Some Steam in Latest Figures as Kingdom’s Economy Continues to Grow
- September 13,2021
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- SUSTG Team
Saudi Arabia’s economy posted a 1.8% annual growth figure for the second quarter but the non-oil sector lost steam, according to official gross domestic product (GDP) estimates shared in a Reuters report on Monday.
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Bloomberg Report: Saudi Arabia Continues to Combat Pandemic with ‘World’s Toughest Rules’
- September 1,2021
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- SUSTG Team
Since the start of the global pandemic last year, Saudi Arabia’s authorities and leadership have implemented progressive policies to help the Kingdom mitigate the spread of the Coronavirus within its borders. From imposing strict fines for individuals and businesses who flaunt rules on mask mandates and distancing requirements to shutting down international travel, and even all but cancelling […]
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Saudi Economy: Jadwa Investment Revises 2021 GDP Forecast Upward as Activity Rises
- August 26,2021
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- SUSTG Team
With both oil and non-oil economic activity in Saudi Arabia growing as the Kingdom’s economy bounces back from the pandemic, Riyadh-based Jadwa Investment said in a research note that it will upgrade Saudi Arabia’s 2021 forecasted GDP.
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Saudi Arabia’s Public Investment Fund Raises Stake in California-Based Activision Blizzard Inc.
- August 18,2021
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) significantly increased its stake in California-based entertainment and games company Activision Blizzard Inc. last quarter, buying 37.9 million shares with a market value of $3.6 billion, according to Bloomberg.
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MUST-READS
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Indonesia bans coal exports in January on domestic power worries
The Southeast Asian country is the world's biggest exporter of thermal coal, exporting around 400 million tonnes in 2020. Its biggest customers are China, India, Japan and South Korea.
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Lebanon seizes millions of amphetamine pills in shipment of lemons
Lebanese authorities on Wednesday intercepted nine million pills of the recreational drug captagon inside a shipment of lemons, foiling an attempt to smuggle them to the Gulf, media reported. Captagon - a mix of amphetamines also known as the "poor man’s cocaine" - is one of the more popular recreational drugs among affluent youth in the Middle East.
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Saudi central bank extends deferred payment programe by 3 months
Saudi Arabia's central bank has extended a deferred payment programme meant to help support the private sector by an additional three months until March 31, it said on Thursday. The extension is aimed at helping small and medium-sized enterprises that are still affected by the precautionary measures put in place during the coronavirus pandemic, the bank said in a statement.
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Saudi banks’ credit to the private sector goes up by $3.4bln
Saudi commercial banks’ credit to the private sector rose by SR12.7 billion ($3.4 billion) in November when compared to the previous month, Saudi Central Bank data showed. In percentage terms, however, the increase was a marginal 0.6 percent.
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Saudi Central Bank’s assets go up by 2% in November to hit $504bln
Saudi Central Bank’s total assets went up by 2.2 percent in November from a month ago to hit SR1.89 trillion ($504 billion), it said in its monthly report. Deposits with banks abroad was the main driver of this change as it rose by 19.9 percent to stand at SR324.1 billion by the end of November.
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Projects in Saudi Arabia, Lebanon, and Indonesia Among the Winners of the III Abdullatif Alfozan Award for Mosque Architecture
The awarded projects came out of 27 mosques on the shortlist that competed for the award out of a total of 201 mosques from the Islamic world that applied for the award from 43 countries on three continents.
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Afghanistan’s Taliban ban long-distance road trips for solo women
The directive, issued on Sunday, is the latest curb on women's rights since the Islamist group seized power in August. A majority of secondary schools remain shut for girls, while most women have been banned from working.
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Jordan’s Capital Bank plans to acquire Societe Generale Bank Jordan – chairman
The board of Jordan's Capital Bank approved a mandatory offer to acquire Societe Generale Bank Jordan (SGBJ), part of a drive to expand the bank's foothold regionally and domestically, its chairman said on Sunday. Bassem Al Salem told Reuters an extraordinary general meeting had on Thursday also agreed to issue $100 million in perpetual bonds - meaning they have no maturity - to help drive growth.
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U.N. proposing paying nearly $6 million to Taliban for security
The proposed funds would be paid next year mostly to subsidize the monthly wages of Taliban fighters guarding U.N. facilities and to provide them a monthly food allowance under an expansion of an accord with the former U.S.-backed Afghan government, the document reviewed by Reuters shows.
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Gulf Rupture With Lebanon Exacerbates Beirut’s Economic Woes
France has sought to calm recent tensions, but the increasing influence of Hezbollah and the shifting focus of Saudi and UAE economic policies elsewhere raises questions of where Lebanon will be able to turn for support.
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