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New Draft Rules from Saudi Arabia’s CMA Set to Further Open Stock Market to Investors
- December 15,2022
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- SUSTG Team
Saudi Arabia plans to further open up its capital market to foreign investors by September 2023, with its capital market regulator, the Capital Markets Authority (CMA), proposing several changes to simplify requirements for qualified foreign investors (QFIs) and adding new channels for overseas retail investors in the country’s bourses, according to reports.
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2023 Budget: Saudi Arabia Exceeds Surplus Estimate, Economic Growth Forecasts in Strong Year for Kingdom’s Economy
- December 8,2022
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- SUSTG Team
Saudi Arabia has recorded a budget surplus for 2022 of 102 billion riyals ($27.13 billion), 12 billion riyals ($3 billion) higher than predicted figures, according to reports.
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Oil Prices Fall as WSJ Reports OPEC is Considering an Output Increase on December 4
- November 21,2022
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- SUSTG Team
Saudi Arabia and other OPEC countries are discussing an oil output increase to be determined at its next meeting, the Wall Street Journal reports, “a move that could help heal a rift with the Biden administration and keep energy flowing amid new attempts to blunt Russia’s oil industry over the Ukraine war.”
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Saudi Arabia Commits 2.5 Billion to Middle East Green Initiative, Agrees to Host HQ in Riyadh – Report
- November 7,2022
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- SUSTG Team
Crown Prince Mohammed bin Salman said on Monday that Saudi Arabia would contribute $2.5 billion to the Middle East Green Initiative over the next 10 years, and host its headquarters in the Kingdom, according to a report from Reuters.
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Crown Prince Mohammed bin Salman Unveils New Initiatives, Investments to Boost Supply Chain Resilience
- October 24,2022
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed bin Salman has unveiled a new initiative designed to position Saudi Arabia as a global supply chain hub, called the “Global Supply Chain Resilience Initiative” (GSCRI).
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Saudi Aramco Pushes Ahead With IPO of Oil-Trading Unit – Bloomberg Report
- October 20,2022
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- SUSTG Team
Saudi Aramco is pushing ahead with plans for an IPO of its energy-trading business to take place as soon as the end of 2022 or early 2023, Bloomberg reports, citing people familiar with the matter.
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Saudi Arabia’s PIF Commits Over $2 Billion to New Long-term Football Sponsorship Deals this Year – FT Report
- October 10,2022
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- SUSTG Team
Saudi Arabia’s Public Investment Fund has committed more than $2 billion to new long-term football sponsorship deals this year, with much of that spent domestically in Saudi Arabia, the Financial Times reports, citing the PIF’s most recent financial statements.
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Crown Prince Mohammed bin Salman Elevated to Prime Minister; New Education Minister Named in Cabinet Changes
- September 28,2022
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- SUSTG Team
Saudi Arabia’s King Salman bin Abdulaziz named his son and heir Crown Prince Mohammed bin Salman as the kingdom’s prime minister and promoted his second son Prince Khalid as defense minister, according to a royal decree on Tuesday.
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Friday Marks Saudi Arabia’s 92nd National Day; 9 Days of Events and Celebrations Planned
- September 21,2022
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- SUSTG Team
Saudi Arabia’s 92nd national day is set for Friday, September 23rd, with nationwide events, patriotic displays and festivals planned by authorities.
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Jadwa Investment Raises Saudi Arabia’s Growth Forecast to 8.7% for 2022
- September 20,2022
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- SUSTG Team
Riyadh-based investment bank Jadwa Investment has revised upward its growth forecast for Saudi Arabia this year, after the Kingdom’s economy showed strong expansion in both oil and non-oil activities in the first half of 2022.
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MUST-READS
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Turkey and ISISTurkey to approve a bigger military role in Iraq and Syria — but not on American terms
Erdogan urged lawmakers to vote in favor of the resolution authorizing intervention in Syria and Iraq, which renews a similar 2012 mandate set to expire Saturday. Significantly, this authorization adds language allowing the government to permit “foreign militaries” to use Turkish soil for cross-border attacks, potentially paving the way for the United States to launch airstrikes from Turkish bases. The proposal is expected to pass because Erdogan’s Justice and Development Party has a majority in parliament.
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Turkey and ISISErdogan says Turkey will join fight against Islamic State
Erdogan’s remarks in New York have yet to translate into concrete action. They nevertheless involve the clearest language to date on the topic and are expected to help staunch the flow of negative publicity Turkey has been receiving in the West about Ankara’s alleged soft stance on IS.
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Turkey and SmugglingThe truth about Turkey and Islamic State oil
For decades, successive Turkish governments have tolerated this illegal trafficking based on some strategic logic. The 30-year war between the state and the Kurdistan Workers Party (PKK) impoverished the southeastern region, diminishing revenues from agriculture and husbandry. Smuggling remained the only source of income for some villages. “Pro-state” (anti-PKK) villages especially benefited from the government’s benign neglect, which was a form of compensation for their loyalty. The December 2011 accidental bombing of 34 smugglers from Roboski village by the Turkish armed forces was a horrific tragedy that exposed this tradition. Villagers revealed to the press that until that day, the soldiers always looked the other way when they “went out to smuggle.”
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Syrian RefugeesFleeing ISIS, Syrian Kurds Swarm into Turkey (28 Photos)
Late last week, ISIS fighters attacked a Kurdish city in northern Syria, after seizing 21 nearby villages in a major assault. The attack on the city of Ayn al-Arab, known as Kobani in Kurdish, drove hundreds of thousands of residents to flee, most heading to the nearby border with Turkey. The Associated Press is reporting that more than 150,000 Syrian Kurds have entered Turkey since the border was opened to refugees on September 19, and the United Nations warns that number could soon climb as high as 400,000
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Turkey and ISISHow the Islamic State Took Turkey Hostage
While the details of the hostage deal are still unclear, Ankara has had interlocutors with IS -- from Arab tribes to former Iraqi Vice President Tariq al-Hashimi, who sought refuge in Turkey -- who could have been instrumental in reaching it. Such a deal, however, may include a promise of continued non-involvement in the campaign against the jihadist group, with the soldiers stationed at Suleyman Shah serving as an insurance policy for the jihadists.
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TurkeyTurkey Is Courted by U.S. to Help Fight ISIS
The Obama administration began the work on Monday of trying to determine exactly what roles the members of its fledgling coalition of countries to fight the Islamic State in Iraq and Syria will play, with Defense Secretary Chuck Hagel huddled with the leaders of the one country the administration has called “absolutely indispensable” to the fight: Turkey.
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TurkeyTurkey Struggles to Halt Islamic State ‘Jihadist Highway’ – WSJ
Turkey is struggling to close a "jihadist highway" that lets foreign militants slip across its border into Syria, amid pressure from Western governments and mounting security fears at home. Turkish forces have stepped up arrests, patrols and interrogations in recent months, but the rapid advance of Islamic State extremists in Iraq has made Ankara's initiative even more urgent, say Turkish officials, Western diplomats and residents.
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IslamTurkey’s Culture Wars
Turkey is replete with political confrontations and cultural clashes, and way too often, unfortunately, the battleground is women’s bodies. Men of all political persuasions feel free to lecture women on how to dress and how to live.
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