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Saudi Arabia’s Spending Cuts Could Reduce the Kingdom’s ‘Fiscal Vulnerabilities’ to Oil Price Fluctuation, IIF Says
- December 16,2019
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- SUSTG Team
Saudi Arabia will lower government spending in 2020 as the Kingdom’s economic and social reforms start to kick in. That could help reduce Saudi Arabia’s medium-term fiscal vulnerabilities to lower oil prices, the Institute of International Finance (IIF) said, and put Saudi on track for a balanced budget by 2023.
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Saudi Ambassador Princess Reema Visits Naval Air Station in Pensacola, Florida, Offers Condolences to Victims
- December 13,2019
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- SUSTG Team
Saudi Arabia’s Ambassador to the United States Princess Reema al-Saud visited the Naval Air Station Pensacola in Florida on Thursday to “personally extend her deepest condolences for the tragedy that unfolded last week and to reinforce Saudi Arabia’s full cooperation with U.S. authorities in investigating this senseless act of violence,” the Saudi embassy in Washington, […]
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Saudi Aramco Soars 10% in Debut in ‘Vindication’ for Company
- December 11,2019
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- SUSTG Team
Saudi Aramco’s shares rose SAR 3.20, or 10% (the daily limit) to 35.2 riyals in Riyadh, raising the company’s valuation to $1.88T. The debut, by any measure, is a success, and officially makes Saudi Aramco the world’s most valuable company.
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Saudi Arabia to Grant Citizenship to ‘Scientists, Intellectuals and Innovators’ From Around the World
- December 5,2019
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- SUSTG Team
In a bid to attract top talent and spark innovation in the Kingdom, Saudi Arabia has announced that it would grant full citizenship to “scientists, intellectuals, and innovators” from key sectors and focuses, according to reports.
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Tiger Woods Cites Busy Schedule in Declining to Play in Saudi Invitational, Defends Mickelson’s Decision to Play
- December 4,2019
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- SUSTG Team
Tiger Woods has declined to play in the upcoming Saudi Invitational golf tournament early next year, citing one of the busiest tour schedules for the Master’s champ in recent years, and defended the decision by Phil Mickelson and others to play. Woods said that he understood that the decision could be difficult for some athletes, […]
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Qatar, Saudi National Teams Set to Face Off in Semifinals of Gulf Cup in Doha
- December 3,2019
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- SUSTG Team
Qatar defeated the United Arab Emirates, 4-2, in the quarterfinals of the Gulf Cup being played in Doha, Qatar on Monday. The win advances the host country’s team to a semifinal match against Saudi Arabia on Wednesday. The match between the two teams has extra intrigue as the two nations play each other for the […]
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Saudi Economy: Consistent Growth in Non-Oil Activity, Modest Overall Growth Forecasted for 2020 — Jadwa Investment
- November 27,2019
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- SUSTG Team
Jadwa Investment has revised downward its forecast for economic growth in Saudi Arabia this year from 1.6% to 0.2% based on recent data, the Riyadh-based firm said in a recently-released report.
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Crown Prince Mohammed bin Salman Begins State Visit to UAE Wednesday
- November 25,2019
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- SUSTG Team
Saudi Arabia’s Crown Prince Mohammed Bin Salman will start a state visit to the UAE on Wednesday, according to Al Arabiya news. During the official visit, the Saudi Crown Prince will meet Sheikh Mohammad Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. The two leaders […]
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China’s Imports of Saudi Oil Soar 76% in October as Demand Increases
- November 25,2019
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- SUSTG Team
China’s crude oil imports from Saudi Arabia rose over 75% in October as demand from new refiners was met by the Kingdom, according to Reuters data. The 76.3% rise in October was boosted by demand particularly from from two new integrated refineries, the Hengli Petrochemical Co. in the north, and Zhejiang Petrochemical in the south, Reuters reports. […]
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Saudi Arabia Gears Up to Host G20 Summit; Saudi FM Travels to Japan for Ceremony
- November 22,2019
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- SUSTG Team
Saudi Arabia is making major preparations to host the annual gathering of the leaders of the Group of 20 (G20) nations next year in Riyadh, the 15th meeting of the group that is set to thrust the city into the global spotlight. The meeting will be held on November 21–22, 2020, and will be chaired […]
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Reports: Turkey thwarts attack ahead of visit by Israeli FM
Turkish authorities have detained five Iranians suspected of planning attacks on Israelis ahead of Thursday’s visit to Turkey by Israeli Foreign Minister Yair Lapid, Turkish media reports said. Lapid arrived in Turkey on Thursday for talks with Turkish counterpart Mevlut Cavusoglu as the two countries press ahead with efforts to repair ties that have been strained over Turkey’s strong support for the Palestinians.
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Can Biden’s Visit Create a Lasting Recalibration in the U.S.-Saudi Partnership? Video
Biden is no doubt hoping to get Saudi Arabia to increase oil production and lower the cost to Americans at the pump before the November midterm elections. Additionally, with nuclear negotiations in Vienna at a seeming stalemate, Washington must look to alternative strategies to deal with Iran that will require close coordination with regional partners, including Saudi Arabia, the United Arab Emirates, and Israel.
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Saudi Arabia’s Music Commission announces start of registration for music classes
The Saudi Center for Music began receiving applications to register for music classes on Tuesday, the official Saudi Press Agency (SPA) reported citing the Kingdom’s Music Commission. Supervised by certified music teachers, the Saudi Center for Music is the first of its kind in the Kingdom. It currently has two branches, one in the capital Riyadh and another in Jeddah. It will soon have a third branch in al-Khobar, with plans to expand across other areas of the Kingdom.
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Afghanistan earthquake: More than 900 people killed after magnitude 5.9 quake
More than 900 people were killed and hundreds more wounded after a magnitude 5.9 earthquake hit eastern Afghanistan Wednesday, according to an official from the country's disaster management authority. It is the deadliest quake to hit the Asian nation in decades and comes as the Taliban-ruled country is in the throes of a hunger crisis.
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Saudi Arabia: IMF Staff Concluding Statement of the 2022 Article IV Mission
The authorities’ commitment to fiscal discipline should help further strengthen fiscal and external sustainability and avoid procyclicality while implementation of the ambitious structural reform agenda will help ensure a durable, inclusive and green recovery.
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Int’l Companies Race over Investment, Partnership Deals for Saudi Ports
Al-Jasser’s remarks were made during the signing ceremony of a new deal to establish a new fully integrated smart logistics park in Jeddah Islamic Port at an investment of over SR500 million ($133 million). The Saudi Ports Authority (Mawani) on Sunday signed an agreement with DP World, a world leader in global supply chain solutions. This is Mawani's fifth such deal following a series of agreements signed with local and global leading companies in maritime transport and logistics including Maersk, CMA CGM, LogiPoint and Bahri.
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Saudi Arabia Signs Climate and Environment Charter for Humanitarian Organizations
President of the Saudi Red Crescent Authority Dr. Jalal Al-Owaisi and an accompanying delegation participated in the first meeting of the Board of Directors of the International Federation of Red Cross and Red Crescent Societies (IFRC) following the win of the Kingdom of Saudi Arabia, represented by the authority, of membership of the board of directors during the elections of the 23rd meeting of the General Assembly of IFRC currently held in Geneva.
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Saudi crown prince lands in Egypt on start of regional tour
Saudi Arabia's de facto ruler Crown Prince Mohammed bin Salman arrived in Egypt on Monday, the Egyptian presidency said, starting his first tour outside the Gulf region in over three years. He will also visit Jordan and Turkey. The prince's trip comes ahead of next month's visit to the region by U.S. President Joe Biden, who is expected to meet Arab leaders in Saudi Arabia after a visit to Israel, with the Ukraine conflict and regional security on the agenda.
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Saudi NFT platform Nuqtah teams up with Consensys to support Web3-focused start-ups
Saudi Arabia’s Nuqtah, a marketplace for non-fungible tokens (NFTs), is teaming up with New York-based Ethereum blockchain company Consensys to support the development of Web3-focused start-ups in the kingdom. As part of the agreement, Consensys will transfer knowledge and expertise to “empower” Web 3 start-ups in the Arab world's largest economy, Nuqtah said in a statement on Saturday.
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Saudi, US officials discuss ways to boost economic partnership
Saudi and US officials discussed ways to better an existing economic partnership between the two countries, the Saudi Press Agency (SPA) reported on Thursday. The Saudi delegation was led by the Minister of Commerce, Dr. Majid bin Abdullah al-Qasabi alongside Princess Reema bint Bandar bin Sultan, Saudi Ambassador to the US.
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