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Recent stories from sustg
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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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UAE Water ReserveUAE has built the world’s largest water reserve in Liwa desert
The reserve exists in an aquifer under the Liwa desert at the southern edge of the country, about 160 km away from the desalination plants located at the coast. It contains about 26 billion liters of water, and needed 26 months to fill it up. In case of emergencies, the reserve can provide about 100 million liters of water per day to the country’s residents.
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Saudi-UAEUAE’s Sheikh Mohammad meets with Saudi Arabia’s Minister of Interior
UAE Vice President Sheikh Mohammad bin Rashid met with Saudi Arabia’s Minister of Interior Prince Abdul Aziz bin Saud bin Naif in Dubai’s Zabeel Palace on Sunday, the Saudi Press Agency (SPA) reported.
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QatarQatari royal family exile claims he’s being held against his will in UAE
An exiled Qatari ruling family member once promoted by Saudi Arabia amid its ongoing dispute with Doha appeared in an online video Sunday claiming he’s being held against his will in the United Arab Emirates, an allegation denied by Abu Dhabi.
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QatarUAE minister: Qatar ‘conspired against’ Saudi Arabia’s King Abdullah
The UAE’s foreign minister said on Wednesday that Qatar must change its policies that have damaged both itself and the region, adding that Doha had “conspired against” the late Saudi King Abdullah.
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PassportsUAE passport is ‘biggest climber’ in Middle East, occupies 33rd place
The UAE passport has emerged as the biggest climber in the Middle East, offering visa-free travel to 133 countries, according to latest rankings released on Tuesday. Germany held on to the 1st place on the Henley Passport Index for the fifth year running, with its citizens enjoying visa-free access to 177 countries in total, up from 176 countries in 2017.
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SkyscrapersSaudi Arabia, UAE claim some of the tallest skyscrapers completed in 2017
Cities in Saudi Arabia and the United Arab Emirates have featured among the top 144 for the tallest skyscrapers completed in 2017, according to a report filed by the Council for Tall Buildings and Urban Habitat.
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War in YemenUAE Embrace of Islah Marks Major Shift in Yemen
For its part, the coalition gains a potentially significant political partner with real domestic support in Yemen. Operationally, it means that new gains are feasible in critical central regions of Yemen. Only days after the meeting, the Houthis were pushed from Bayda, a front that had seen a protracted stalemate.
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War in YemenNorway suspends arms exports to UAE amid war in Yemen
Norway said Wednesday it has suspended exports of munitions and arms to the United Arab Emirates as a "precautionary line," based on its assessment of the situation in Yemen, where a Saudi-led coalition including the UAE has been fighting Shiite rebels for nearly three years.
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VATSaudi Arabia, UAE introduce VAT in push to boost revenue
Saudi Arabia and the United Arab Emirates, once seen as the Gulf's leading tax havens, have imposed a 5 percent value-added tax on goods and services. Riyadh has also sought to balance its budget by upping fuel prices.
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LibyaThe UAE Is Getting Ready to Deploy Jets to the Libya War
New satellite imagery from Terra Server — dated Sept. 24 and Nov. 10, 2017 — show accelerating construction on Al Khadim air base in eastern Libya.
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