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Recent stories from sustg
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Inexpensive solar panels are super-charging renewable energy growth
- October 25,2024
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- SUSTG Team
Solar PV and wind additions are forecast to more than double by 2028 compared with 2022, continuously breaking records over the forecast period to reach almost 710 GW.
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IMF World Economic Outlook releases KSA forecasts for ’24 and ’25
- October 23,2024
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- SUSTG Team
In its just-released World Economic Outlook Report the International Monetary Fund further lowered its GDP growth forecast for Saudi Arabia for 2024 to 1.5% and estimated growth to accelerate to 4.6% next year.
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Saudi Finance Minister makes strong case for multilateralism at IMF, World Bank meetings
- October 23,2024
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- SUSTG Team
Saudi Finance Minister Mohammed Al Jadaan appealed for a strong defense of multilateralism, warning of the challenges that global fragmentation poses to trade and humanitarian efforts.
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16th BRICS summit in Russia October 22-24
- October 22,2024
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- admin
The 16th BRICS summit kicked off today in Kazan, Russia.
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New Murabba project hits early milestone
- October 21,2024
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- SUSTG Team
The ambitious $50 billion New Murabba project has excavated 10 million cubic meters in preparation for construction as it works to meet a December 2030 deadline.
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Lucid CEO discusses EVs and Saudi investment
- October 18,2024
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- SUSTG Team
Lucid CEO, Peter Rawlinson, chats with Liz Hoffman and Semafor about the EV market, Elon Musk and Saudi Arabia’s Public Investment Fund.
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BBC Travel’s superb feature on Swizz Beatz and his love for AlUla and Saudi Arabia
- October 17,2024
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- SUSTG Team
Bronx-born entertainer Kasseem Daoud Dean – Swizz Beatz – talks with Eva Sandoval and BBC Travel for a remarkable discussion of his favorite places in Saudi Arabia.
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First EU-GCC Summit today in Brussels
- October 15,2024
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- admin
The first summit between the leaders of EU and Gulf Cooperation Council (GCC) takes place today, October 16, 2024, in Brussels. The summit is co-chaired by Charles Michel, President of the European Council, and H.H. Sheikh Tamim bin Hamad Al Thani, Emir of Qatar, the current rotating President of the GCC.
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Global Logistics Forum 2024 concludes in Riyadh
- October 14,2024
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- admin
The Global Logistics Forum (GLF) hosted by the Ministry of Transport and Logistic Services, gathered industry leaders from the region October 12-14, 2024, at the King Abdullah Financial District.
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US approves new arms sale to KSA
- October 14,2024
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- SUSTG Team
Saudi Arabia has received clearance from the U.S. State Department to purchase missiles, ammunition and other weapon systems via three foreign military sale transactions worth potentially $1.05 billion.
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MUST-READS
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Turkey’s southeast exodus after earthquake puts manufacturing at risk
Mehmet Alkan, a shoe-sole manufacturer in Turkey's earthquake-hit south, doesn't know what will become of his company after some of his 220 employees died and half fled, reflecting the difficult transformation ahead for industry in the region. Forty of his workers and some families sheltered for a while in the undamaged Alkan Taban factory in Antakya after the massive quakes on Feb. 6. "We only have 110 workers after some died and others left the city, so production capacity dropped," said Alkan, the manager.
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Photos: A Month Since the Devastating Earthquake in Turkey
This week marked the passing of one month since a 7.8-magnitude earthquake struck near the Turkish city of Gaziantep on February 6, followed by dozens of powerful aftershocks. More than 50,000 deaths have been reported across southern Turkey and northwestern Syria. Rescue and recovery efforts have wound down, and the work of removing rubble and demolishing damaged buildings has begun. The United Nations estimates that 1.5 million people were made homeless by the quake, and local groups, charities, and government agencies are working to care for them, setting up tent cities, repurposing passenger-train cars, and opening up mosques and hotels. Gathered below are images from across the quake-hit region over recent weeks.
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Opinion: After the terrifying earthquakes, it’s women and girls in Turkey feeling the aftershocks
While she was sleeping, her ex-husband allegedly poured scalding water all over her, shouting she should be grateful that he had not killed her. She remains in intensive care at a local hospital, with severe burns to her head, face and body. Hers is one of the many harrowing stories of women and girls in crisis zones.
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Turkey’s ruling party presents gas reform in step towards trading hub
Turkey's ruling AK Party presented a draft law to parliament on Wednesday aimed at establishing a competitive natural gas market as the country attempts to become a gas trading hub bringing together suppliers and consumers. President Vladimir Putin proposed setting up a gas hub in Turkey in October after explosions that damaged Russia's Nord Stream gas pipelines under the Baltic Sea.
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Explainer: What’s at stake in Turkey’s upcoming elections?
President Recep Tayyip Erdogan faces the biggest test of his 20-year rule in May elections that will decide not only who leads Turkey but how it is governed, where its economy is headed and what role it may play to ease conflict in Ukraine and the Middle East. Erdogan has signaled the presidential and parliamentary votes will take place on May 14, three months after powerful earthquakes struck Turkey’s southeast, killing tens of thousands and leaving millions homeless.
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Turkey’s opposition bloc eyes deal to reunite, elevate popular mayors
Turkey's opposition neared a deal on Monday in which the right-wing IYI Party could return to an alliance that it quit three days ago, opening the way to mounting a united challenge to President Tayyip Erdogan in elections set for May. Under a new proposal following a weekend of political intrigue, two popular mayors would serve as vice presidents should the opposition win in the presidential and parliamentary elections on May 14.
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Saudi Arabia deposits $5 bln in Turkey’s central bank – statement
Saudi Arabia has signed an agreement with Turkey to deposit $5 billion in the country's central bank through the Saudi Fund for Development (SFD), the fund said on Monday. Saudi Minister of Finance Mohammed Bin Abdullah Al-Jadaan announced his country's intention to make the deposit in December. While Turkey's net foreign exchange reserves rebounded from just over $6 billion last summer, when it was at its lowest in at least 20 years, they have lost some $8.5 billion since a massive earthquake hit the country's southern region early in February that killed more than 45,000 people and left millions homeless
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Turkey Earthquake Spending Risks Returning Inflation to Upward Path
Turkish inflation is expected to be at its lowest in a year when the statistics office reports data on Friday, though state spending following deadly earthquakes and looser monetary policy risk a return to an upward path. Consumer prices probably rose an annual 55.7% last month, down from 57.7% in January, according to the median forecast in a Bloomberg survey. Inflation has been slowing in Turkey for the last three months after reaching more than 85% — the highest level since 1998 — a fall attributed to the easing of a 2021 currency crisis that prompted prices to spiral.
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How the Turkey earthquake caused thousands of aftershocks
These additional quakes, called aftershocks, are common after a large earthquake; many aftershocks can be small relative to the main quake, but some have the potential to be severe and destructive, as was the case in Turkey. A powerful 6.4 magnitude aftershock struck near Antakya city in southern Turkey on Feb. 20, two weeks after the main quake, killing at least six. Another 5.6 magnitude quake struck near Malatya on Feb. 27, killing one person, injuring 110 and causing 29 buildings to collapse.
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Turkey widens probe into building collapses as quake toll exceeds 50,000
Turkey has arrested 184 people suspected of responsibility for the collapse of buildings in this month's earthquakes and investigations are widening, a minister said on Saturday, as anger simmers over what many see as corrupt building practices. Overnight, the death toll from the earthquakes, the most powerful of which struck at the dead of night on Feb. 6, rose to 44,128 in Turkey. That took the overall number of deaths in Turkey and neighbouring Syria to more than 50,000.
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