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Reliance, Aramco ‘Mutually Determined’ to Reevaluate $15b Deal, Statement Says
- November 22,2021
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- SUSTG Team
Reliance and Saudi Aramco have “mutually determined” to reevaluate a potential $15 billion investment by Saudi Aramco into Reliance’s oil-to-chemicals (O2C) business agreed to in 2019, according to reports and a statement from Reliance.
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Race to the Finish for Saudi Arabia’s F1 Circuit Track Construction in Jeddah; Officials Say Track will be Ready
- November 9,2021
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- SUSTG Team
Despite media reports that say there is a lot of work left to be done, Formula One’s governing body has said it is confident Saudi Arabia will be ready for its grand prix debut next month, multiple sources told Reuters. The race is set to run at night under the lights in Jeddah on December […]
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Saudi Aramco Chief Says World’s Spare Oil Supplies Are Falling Rapidly, Urges Production Investment
- October 27,2021
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- SUSTG Team
Saudi Aramco’s CEO Amin Nasser said that oil-output capacity across the world is dropping quickly and companies need to invest more in production, according to a story in Bloomberg. It’s a “huge concern,” Nasser said in an interview in Riyadh. “The spare capacity is shrinking.”
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The 966, Episode 8 – F1 Grand Prix in Jeddah, The Puzzle of U.S.-Saudi Ties, Tadawul Hits 15 Year High, Solar Costs Rise
- October 22,2021
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- SUSTG Team
This week, The 966 hosts discuss the upcoming COP 26 UN Climate Change Conference in Glasgow, the F1 race in Jeddah, an excellent recent commentary piece by Jon Alterman of the CSIS, Tadawul’s 15-year high, and the rising cost of solar energy components in Saudi Arabia.
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An Interview with the IMF’s Abdullah Hassan, Former Sous-Sherpa for Saudi Arabia for the G20 Meetings
- October 14,2021
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- SUSTG Team
In 2020, Saudi Arabia became the first Arab nation to assume the G20 presidency. Hosting the G20 is a massive undertaking, involving close to two years of event planning, policy development and strategy, and much more.
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As Oil Continues Rise, Saudi Aramco Again Nears World’s Most Valuable Company
- October 6,2021
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- SUSTG Team
Oil’s continued rise in recent months has pushed up the value of state-owned Saudi Aramco to nearly $2 trillion, positioning the company within striking distance of Apple Inc. as the world’s most valuable.
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Unemployment Among Saudi Citizens Hits Lowest in the Decade as Economy Continues Recovery
- September 30,2021
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- SUSTG Team
Unemployment of Saudi citizens dropped to 11.3% in the second quarter of this year, the lowest in a decade, according to the government’s General Authority for Statistics, as signs continue to mount that the Saudi economy is continuing to recover from the global pandemic.
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Diriyah Contemporary Art Biennale, First of its Kind in Saudi Arabia, Announces Artists
- September 24,2021
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- SUSTG Team
The upcoming Diriyah Contemporary Art Biennale – the first art event of its kind to be held in Saudi Arabia – announced participating artists for the exhibition called Feeling the Stones, according to a report in The Art Newspaper. The event is scheduled to take place starting December 11 and running for three months, concluding March 11, 2022.
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OPEC+ Set to Revise Down ‘Optimistic’ Oil Demand Outlook; Oil Rallies to $73
- September 10,2021
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- SUSTG Team
Two OPEC+ sources told Reuters that OPEC will likely revise down its 2022 oil demand growth forecast on Monday, as the specter of a persistent Delta variant of the coronavirus drags optimism about the global economic recovery.
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Jadwa Chartbook for September 2021: PMI Indicates Continued Expansion for Saudi Economy
- September 2,2021
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- SUSTG Team
Jadwa Investment’s recently-released Chartbook for the month of September shows a Saudi economy awaking from the pandemic year with solid figures in non-oil PMI, consumer spending, and POS transactions.
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MUST-READS
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No let up in Taliban attacks, fresh orders awaited over deal with U.S.
Last week, a senior U.S. administration official said negotiations with Taliban representatives in Qatar had resulted in and agreement in principle for a week-long reduction of violence, but the seven-day period had not commenced. The official said the agreement covered all Afghan forces, and would be closely monitored.
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Taliban Truce With U.S.: Congress Needs to See the Details
In the last year, Congress has begun to claw back its constitutional power to declare war. A possible U.S. truce with the Taliban will show whether the legislative branch is willing to reassert its peace-making power as well. The latest example of Congress’s renewed interest in its war-making authority is its 55 to 45 vote last week in the Senate limiting the president’s ability to attack Iran unless he gets explicit authorization from Congress. This followed a vote last year to end U.S. military participation in the Saudi-led war in Yemen.
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Oman Sees Prospects of Talks Between Iran and U.S.
“We are in touch with the U.S. and Iran,” Yousef Bin Alawi, Oman’s foreign minister, was cited as saying on Sunday by the state-run Oman News Agency at the Munich Security Conference. “We feel that there is a possibility of dialogue between them.”
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U.S.-IranU.S. sailors say threat level after Soleimani’s death was unlike anything they had seen in years
With the warning and an elevated threat level, the sailors prepared for potential combat. Additional precautions put in place on the Normandy required them to carry flame-resistant balaclavas and gloves to complement their flame-resistant uniforms, and the Internet service they used to speak to family members was temporarily cut.
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AfghanistanCommentary: Afghanistan: “Peace” as the Vietnamization of a U.S. Withdrawal?
U.S. policymakers may be taking the current peace effort in Afghanistan seriously and believe it could actually succeed. At best, it is a well-intentioned attempt at peace, whose authors do not realize that this form of “peace” is likely to rapidly deteriorate into a Vietnam-like withdrawal.
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Trump Peace PlanPalestinian leader says U.S. peace plan would make ‘Swiss cheese’ out of Palestinian land
The Trump administration claimed a symbolic victory at the United Nations on Tuesday, as an effort to formally condemn the new U.S. Middle East peace plan fizzled, while Palestinian leader Mahmoud Abbas angrily accused Washington of trying to extinguish the idea of an independent Palestinian homeland.
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IranMore than 100 U.S. troops diagnosed with brain injuries from Iran attack
No U.S. troops were killed or faced immediate bodily injury when Iran fired missiles at the Ain al-Asad base in Iraq in retaliation for the U.S. killing of Revolutionary Guard General Qassem Soleimani in a drone strike at the Baghdad airport on Jan. 3. The missile attacks capped a spiral of violence that had started in late December. Both sides have refrained from further military escalation, but the mounting number of U.S. casualties could increase scrutiny on the Trump administration’s approach to Iran.
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CyberThe U.S. Is Vulnerable to an Iranian Cyberattack. Here’s How.
Cybersecurity expert John Hultquist and WSJ's Dustin Volz discuss what new tactics hackers have at their disposal and whether the U.S. is prepared to defend itself.
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IsraelU.S. ambassador to Israel warns against West Bank annexation
The U.S. ambassador to Israel has cautioned Israel against “unilateral action” in annexing West Bank settlements, warning that such a move could endanger the Trump administration’s recently unveiled Mideast plan. Israeli Prime Minister Benjamin Netanyahu had initially sought to move quickly to annex large swathes of the West Bank containing Jewish settlements, following the U.S. plan’s announcement on Jan. 28. Netanyahu called for his Cabinet to vote on such a measure, only to call it off a day later. The move would have risked provoking a harsh backlash from the Palestinians and the international community. Advertisement
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U.S.-Arab TradeU.S. Exports to Arab World Grow 4 Percent in 2019
The United Arab Emirates ($20.04 billion) and the Kingdom of Saudi Arabia ($14.29 billion) continued to be the two largest destinations by far for U.S. goods in the Arab world. Together, these two countries accounted for 55 percent of total U.S. goods exported to the MENA region in 2019.
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