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Oil Prices Near 8-Year Highs as Russian Invasion of Ukraine Roils Markets
- February 23,2022
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- SUSTG Team
Oil prices reached 8-year highs, approaching $100 a barrel on the Brent crude index, as Russia’s Vladamir Putin ordered troops to invade neighboring Ukraine.
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Saudi Moves Further into FinTech Space with PIF Backing of New Digital Bank Called D360
- February 16,2022
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- SUSTG Team
Saudi Arabia’s Public Investment Fund is investing in the creation of a new digital bank being established in the kingdom with a capital of 1.65 billion riyals ($440 million), according to a report from Bloomberg.
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Dazzling Finish to Saudi International as Harold Varner III Sinks Near 100-Foot Eagle Putt to Win
- February 7,2022
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- SUSTG Team
American Harold Varner III made a fantastic eagle putt on the final hole to hold off left-handed Bubba Watson and claim a one-stroke victory at the Saudi International on Sunday.
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Saudi Arabia’s Natural Gas Production Soars
- January 26,2022
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- SUSTG Team
Saudi Arabia is starting to see significant growth in its natural gas production after major investments in the sector to increase output. Saudi Arabia’s dry natural gas production reached an average of 11 billion cubic feet per day (Bcf/d) for the first time in 2020, a 30% increase from 2010, according to the U.S. EIA.
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President Biden Says Administration Considering Re-Designating Yemen’s Houthis as a Terrorist Group
- January 20,2022
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- SUSTG Team
U.S. President Joe Biden said on Wednesday his administration is considering re-designating Yemen’s Houthi movement as an international terrorist organization following persistent drone attacks on civilians in Saudi Arabia and the UAE. His comment at a press conference came shortly after the group claimed an attack by the group that killed three people at Abu Dhabi airport […]
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White House Says it Welcomes OPEC+ Decision to Stick to Planned Output Increase
- January 5,2022
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- SUSTG Team
The White House on Tuesday welcomed a decision the OPEC+ group of oil producers led by Saudi Arabia to stick with their plans to raise crude production, and touted “close” coordination with Saudi Arabia and the United Arab Emirates, according to Reuters.
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Saudi Arabia Plans PIF Takeover of Airport Operators with Eyes Toward Privatization
- December 21,2021
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- SUSTG Team
Saudi Arabia plans to convert its airport operators into holding companies and transfer them to the Public Investment Fund (PIF), according to a Reuters report, citing Abdulaziz Al-Duailej, the head of Saudi Arabia’s General Authority of Civil Aviation. Some of the new companies may eventually be privatized, according to Al-Duailej.
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It’s Official: Saudi Arabia Pitches Riyadh for 2030 World’s Fair
- December 16,2021
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- SUSTG Team
Saudi Arabia has officially submitted a bid to host Expo 2030 in Riyadh, with the Royal Commission for Riyadh City (RCRC) CEO Fahd Al-Rasheed submitting the Kingdom’s bid while addressing a virtual gathering of 170 member countries assembled to kickstart the five-stage bidding process that will conclude with voting in November 2023.
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Saudi Economy on Track for ‘Very Strong Level of Growth This Year,’ with 2022 ‘Critical’ for Vision 2030 — Jadwa Investment
- November 30,2021
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- SUSTG Team
The Saudi economy is “on-track to record a very strong level of growth this year, and we expect this to continue into next year…[with] the Kingdom’s economy growing by 7 percent year-on-year in 2022 as a result of sizably higher oil sector growth and robust levels of non-oil growth,” Jadwa Investment said in the Riyadh-based bank’s […]
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With Pandemic’s Damage in the Rear View for Saudi Arabia, Consumers Up Spending; Non-Oil Economy Recovers
- November 24,2021
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- SUSTG Team
With Saudi Arabia’s success against the pandemic becoming the envy of countries around the world, the Kingdom’s economy is roaring back to life on the back of high oil prices and consumer confidence.
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MUST-READS
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Saudi EconomyRecovery of non-oil economy in UAE and Saudi Arabia gains momentum
The pace of recovery in non-oil sectors of the UAE and Saudi Arabia, the two largest economies in the Arab world, is gaining a foothold as output increases and exports climb.
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U.S.-UAEAir Force Acknowledges Clandestine Base in UAE
For the first time in over a decade, the U.S. Air Force is publicly acknowledging it runs an air war out of Al Dhafra Air Base, United Arab Emirates.
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Regional TensionsCommentary: Reducing Middle East tensions? Saudi-UAE moves hint at willingness to engage with Iran
The exchanges gave credence to suggestions that Saudi Arabia and the UAE may be seeking a reduction of tension with Iran. Yet, they occurred before the Gulf crisis erupted in which Saudi Arabia and the UAE demanded, among other things, that Qatar reduce its relations with Iran.
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Saudi-IraqIraqi Shiite cleric’s Saudi, UAE trips show Gulf realpolitik
An influential Iraqi Shiite cleric, notorious for his followers' deadly attacks on U.S. troops in Iraq over a decade ago and thought at times to have ties to Iran, has two new stamps in his passport — from the two fiercest Sunni critics of Tehran in the Gulf.
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Qatar DisputeKuwait envoys deliver letters to UAE, Saudi Arabia, Oman and Egypt over Qatar crisis
A Kuwaiti delegation of high-ranking royal family members has been sent across the region to deliver letters written by Kuwait’s ruler in the latest bid to end the Qatar crisis.
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United Arab EmiratesThe UAE’s hunt for its enemies is challenging its alliance with the United States
As a vicious civil war erupted in Yemen two years ago and triggered international alarm, the United States warned the combatants to step back. But its efforts were quietly undermined by one of the most trusted U.S. regional allies: the United Arab Emirates.
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Qatar DisputePerspective: Gulf Crisis Shows How Discrimination in Saudi Arabia, UAE and Qatar Tears Families Apart
My colleague and I spent the last week of the Muslim holy month of Ramadan listening to 50 Gulf citizens express their shock, anger, and confusion about the unfolding political crisis. While leaders highlighted long-standing political differences, the isolation of Qatar revealed instead how intertwined Gulf societies are.
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Qatar CrisisUAE and Saudi add 18 charities and individuals to terror list
Saudi Arabia, the UAE, Bahrain and Egypt on Tuesday extended its terror list, added more charity groups and individuals with ties to Yemen, Qatar and Libya, labelling them “terrorist” over suspected ties to extremism.
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Qatar CrisisUAE Welcomes Qatari Decision to Amend Anti-Terrorism Laws
The United Arab Emirates on Friday welcomed Qatar's decision to amend its anti-terrorism laws, in one of the first positive signs from the UAE and three other Arab countries since they imposed sanctions on Doha last month.
- Forbes - The Clash Between Qatar And Saudi Arabia Is Bullish For The Oil Market
- Newsweek - Opinion: Gulf states should not continue to deprive women of the right to pass their nationality to their children
- Vox - The real victims of the Gulf crisis are Qatar’s 2.2 million migrant workers
- Reuters - Erdogan says Turkey will try to solve problems between Gulf states
- The National - Saudi Arabia lets Qataris go on Haj, despite diplomatic row
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GCC RiftUAE hacked Qatari government sites, sparking regional upheaval, according to intelligence officials
The United Arab Emirates orchestrated the hacking of Qatari government news and social media sites in order to post incendiary false quotes attributed to Qatar's emir, Sheikh Tamim Bin Hamad al-Thani, in late May that sparked the ongoing upheaval between Qatar and its neighbors, according to U.S. intelligence officials.
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