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Recent stories from sustg

  • Al-Rabiah moves to push foreign trade and investment
     

    Commerce and Industry Minister Tawfiq Al-Rabiah yesterday opened a major workshop for the development of Saudi commercial attaches as part of the ministry’s efforts to promote trade and investment relations with foreign countries. The workshop attended by top officials from related departments and agencies discussed ways to improve the performance of Saudi commercial attaches abroad […]

     
  • Critical Commercial and Economic Ties: Interview with Jose Fernandez
     

    The 2nd US-Saudi Business Opportunities Forum in Atlanta in December brought together a high level delegation of over 200 Saudi officials and business people with over 1000 Americans to explore the $1 trillion-plus commercial openings available in the coming decade in the Kingdom. The response to the Forum – and what it means for American investment and […]

     
  • Jadwa Saudi Chartbook – March 2012 – Trade
     

    According to Jadwa Investment’s March 2012 Chart Book,  “Non-oil exports hit a new all-time high in December owing to greater production of petrochemicals and plastics. Imports also jumped that month and data on letters of credit issued for imports suggest further rises are likely in the months ahead.”  

     
  • What to Know About the TASI Opening
     

    Saudi Arabia, the world’s largest oil exporter and the Middle East’s biggest economy, is about to complete a gradual process to open its stock market, known as the Tadawul or TASI, directly to international investors for the first time. The initial step toward this action was to give other GCC countries the right to invest […]

     

MUST-READS

  • US leads global oil production for sixth straight year- EIA

    U.S. crude oil production lead global oil production for a sixth straight year, with a record breaking average production of 12.9 million barrels per day (bpd), the Energy Information Administration (EIA) said in a release on Monday. In December, U.S. crude oil production hit a new monthly record high of over 13.3 million bpd, the agency said. "The United States produced more crude oil than any nation at any time, according to our International Energy Statistics, for the past six years in a row," the EIA added. The EIA says it is unlikely that the record will be broken by another country in the near term.

  • How Tony Douglas Is Building Riyadh Air To Be A Better Airline

    Despite many years in aviation and a high profile in the sector, Tony Douglas has never launched an airline before. While he did great things at Etihad, his remit there was very much to come in and deliver transformation in five years, which he successfully achieved. But the proposition of starting an airline from scratch, with no legacy hangovers, presented the perfect opportunity for the next step in his career.

  • US-based CarbonCapture raises $80 mln from Saudi Aramco, others

    Los Angeles-based CarbonCapture, which aims to build machines that suck carbon dioxide out of the air to fight climate change, said it had raised $80 million from investors that include Saudi oil giant Saudi Aramco (2223.SE), opens new tab. The money raised in CarbonCapture's latest major funding round represents one of the largest injections of private capital into direct air capture (DAC) – a technology that has yet to be proven at scale - over the last five years, according industry tracker PitchBook. "This is exactly what has to happen - this alignment with large industrial partners who have the capacity, the access to capital, the skills to actually scale DAC to a meaningful level," CarbonCapture CEO Adrian Corless said in an interview with Reuters.

  • Ronaldo’s Al-Nassr exit Asian Champions League with shootout loss to Al-Ain

    Cristiano Ronaldo's Al-Nassr crashed out of the Asian Champions League in the quarter-finals after the Saudi Pro League side lost 3-1 on penalties to Al-Ain in a pulsating game on Monday. Al-Nassr overturned a 1-0 first leg deficit to win 4-3 on Monday but with the contest ending 4-4 on aggregate, the players headed into a shootout from which Al-Ain prevailed. Al-Nassr's foreign imports Miroslav Brozovic, Alex Telles and Otavio all failed to score from the spot as the side from the United Arab Emirates advanced to the semi-finals, where they will face either Al-Hilal or Al-Ittihad -- both from Saudi Arabia -- next month.

  • US delegation leaves Saudi Arabia early over kippah row

    A US delegation on religious freedom said Monday it cut short its visit to Saudi Arabia after one of its members was asked to remove his Jewish head covering, or kippah. The United States Commission on International Religious Freedom (USCIRF) said its delegation was near Riyadh visiting Diriyah, a historic town and Unesco world heritage site, when the commission’s chair, the Orthodox rabbi Abraham Cooper, “refused their requests that he remove his religious head covering”. Cooper said in a statement: “No one should be denied access to a heritage site, especially one intended to highlight unity and progress, simply for existing as a Jew.”

  • Biden Warns Netanyahu Not to Attack Rafah as Ramadan Begins

    US President Joe Biden warned Israel against attacking the city of Rafah in southern Gaza as cease-fire talks with Hamas remained deadlocked at the beginning of Ramadan. The US hoped for a breakthrough before Islam’s holy month, which began after sundown on Sunday. A deal would probably lead to a six-week pause in fighting, the freeing of dozens of hostages held by Hamas in Gaza and release of hundreds of Palestinian prisoners in Israeli jails. Negotiations remain at an impasse, however, with Israel accusing Hamas of stalling in a bid to inflame violence across the region during Ramadan, and Hamas saying more Israeli hostages had died in captivity than earlier believed.

  • Netanyahu vows to defy Biden’s ‘red line’ on Rafah

    Israeli Prime Minister Benjamin Netanyahu says he intends to press ahead with an invasion of the city of Rafah on the southern border of the Gaza Strip in defiance of United States President Joe Biden, who has warned such an offensive would be a "red line." Amid signs of increasing frustration with Netanyahu, the U.S. president told MSNBC on Saturday that he opposed an escalation of the conflict into Rafah, and that he could not accept "30,000 more Palestinians dead."

  • Saudi Arabia, Muslim world gear up as Ramadan begins

    Joining Saudi Arabia, Qatar and the UAE have also confirmed that Ramadan will begin on Monday, with Oman, Pakistan, Indonesia, Australia, Malaysia, Brunei and Iran to follow a day later. The determination of the starting date relies on both lunar calculations and physical sightings of the new moon, a practice steeped in Islamic tradition. Al-Khudairi said: “Calculation and technology are complementing the sighting process. I say that the astronomical calculations and the naked eye sighting, like the human’s eyes, they need one another.”

  • Saudi Arabia rounds up record 23,040 illegals in weekly swoop

    Saudi authorities have arrested 23,040 foreign violators of the kingdom’s residency, labour and border security laws in one week, the highest such weekly arrests in more than two years. The arrests were made across the kingdom during the February 29-March 6 period.

  • Opinion – Gaza may be the crucible for new order in the Middle East

    The Middle East is at a hinge moment. The old order is collapsing, and a new one has yet to emerge. While the region’s tectonic shifts predate Hamas’s terror attack on Oct. 7, the ensuing conflict in Gaza and its reverberations across the region are the crucible in which the new contours of the Middle East will take shape.