We can't find results matching your search.

Adjust your search and try again or browse topics and stories below.

Recent stories from sustg

  • IMF: Saudi Arabia Making ‘Good Progress’ on Vision 2030, Should Focus on Balanced Budget in 2023
     

    Saudi Arabia is making good progress in implementing Vision 2030 economic and social reforms, the International Monetary Fund (IMF) said in a statement late on Tuesday, as it urged the Kingdom not to increase spending and to focus on a balanced budget by 2023. “The government remains committed to wide-ranging economic and social reforms to transform the […]

     
  • Nasdaq Dubai to Launch Futures Trading in Saudi Quoted Companies before End of Year
     

    Nasdaq Dubai will launch futures trading in Saudi quoted companies “before the end of this year,” according to reports, marking the first time Saudi stocks can be traded in derivative form. The move will allow global investors to trade shares in Saudi Arabian listed companies via contracts to buy or sell shares at a set price in […]

     
  • Oil Hits $80 for First Time in Three Years, Saudis Consulting Other Producers on Supply
     

    The price of oil reached $80 on the Brent Crude Index this week for the first time in three years, prompting Saudi Arabia’s powerful Minister of Energy Khalid Al-Falih to tweet a message urging coordinated action to allay supply “anxiety,” according to reports. Al-Falih said in a Twitter post that he had called his counterparts […]

     
  • Ramadan Begins Today in Saudi Arabia
     

    Ramadan officially begins in Saudi Arabia Thursday, as millions of Muslims in the Kingdom and around the world prepare for a month of fasting, which is intended to bring Muslims closer to Allah and remind them of those less fortunate. The Islamic calendar is 11 days shorter than the Gregorian calendar, so each year, the […]

     
  • Design Released for Saudi Arabia’s New Global Business School in Jeddah
     

    Renderings of the forthcoming Global Business School in Jeddah have been published online, depicting a massive building that will serve as a modern campus for the educational institution in Saudi Arabia’s second largest city. The new business school, which will have both Saudi and international students, is expected to open in 2020 and will operate […]

     
  • Will Trump’s JCPoA Decision Affect U.S.-Saudi Nuclear Talks?
     

    President Trump’s decision to withdraw the United States from the so-called Iran deal may have an effect on the ongoing negotiations between the U.S. and Saudi Arabia, according to analysts, as Energy Secretary Rick Perry hopes to steer Saudi nuclear negotiators into an “acceptable 123 agreement with additional protocols.” The U.S. is hoping to position Westinghouse among […]

     
  • New Tax Gains Redistributed to Support Saudi Safety Net but Takes Toll on Balance Sheet, Report Says
     

    New tax earnings for Saudi Arabia’s government were offset by expenditures toward programs comprising the Kingdom’s safety net for lower income citizens, according to a Bloomberg report which cited Ministry of Finance figures. The increase in the kingdom’s spending on wages and social benefits during the first quarter “exceeded what it accrued through higher taxes […]

     
  • Saudi Arabia Applauds Trump Decision on Iran Nuclear Deal
     

    Saudi Arabia has embraced President Trump’s decision yesterday to pull the United States out of the JCPoA, the agreement to curb Iran’s nuclear ambitions by offering sanctions relief in exchange for Iran’s compliance with non-proliferation standards, according to statements made by top Saudi officials and the Saudi Press Agency. As the chief rival of Iran in […]

     
  • In Boost to Corruption Reforms, King Salman Signs Order Protecting Whistleblowers
     

    Saudi Arabia’s King Salman has ordered protection for employees who report financial and administrative corruption, according to reports, an indication that the Kingdom is taking seriously its efforts to combat graft. King Salman’s order is an “interim measure while more detailed legislation is finalized,” according to Faisal bin Farhan, the top advisor to the Royal Embassy […]

     
  • Saudi Arabia Launches $13b ‘Quality of Life 2020’ Program to Promote Entertainment, Health, and Sports
     

    At a ceremony in Riyadh yesterday, the Kingdom unveiled its plans to spend 50 billion riyals ($13.33 billion) by 2020 on a new ‘Quality of Life 2020’ initiative to promote entertainment, health, sports and education as part of a modernizing drive by Crown Prince Mohammed bin Salman, according to Reuters. The program, which aims to generate 300,000 […]

     

MUST-READS

  • Top US officials in Damascus to meet new Syrian rulers, State Department says

    Top diplomats from the Biden administration are in Damascus on Friday to meet new Syrian authorities led by Hayat Tahrir al-Sham (HTS), a State Department spokesperson said, the first in-person and official meeting between Washington and Syria's de-facto new rulers. The State Department's top Middle East diplomat, Barbara Leaf, Presidential Envoy for Hostage Affairs Roger Carstens and newly appointed Senior Adviser Daniel Rubinstein, who is now tasked with leading the Department's Syria engagement, are the first U.S. diplomats to travel to Damascus since Syria's opposition militias overthrew oppressive President Bashar al-Assad. The visit comes as Western governments are gradually opening channels to HTS and its leader, Ahmed al-Sharaa, and start debating whether or not to remove the terrorist designation on the group. The U.S. delegation's travel follows contacts with France and Britain in recent days.

  • Lawsuit alleges U.S. failed to evacuate Palestinian Americans trapped in Gaza

    Nine Palestinian Americans sued the U.S. government on Thursday, alleging that it had failed to rescue them or members of their families who were trapped in Gaza where Israel's war has killed tens of thousands and caused a humanitarian crisis. The lawsuit accuses the State Department of discriminating against Americans of Palestinian origin by abandoning them in a war zone and not making the same effort that it would to promptly evacuate and protect Americans of different origins in similar situations.

  • Turkey’s central bank expected to start cutting rates next week: Reuters poll

    Turkey's central bank is expected to start a cycle of interest rate cuts next week after eight months of steady policy, according to a Reuters poll on Thursday. Fourteen of 17 poll respondents forecast that the bank would cut its policy rate next Thursday, according to the poll. Three respondents expect the central bank to keep rates on hold until the first quarter. While most expected that the easing cycle will be launched this month, economists differed over the size of the first cut.

  • Women Driving in Saudi Arabia: Female Perceptions Five Years after Lifting of the Ban

    Survey findings suggest most women agree that there has been vast improvement, but they insist that the battle for equality is far from over. Indeed, there has been some resistance to the reforms among those who see the changes as pandering to the West. Overall, though, the survey findings suggest that the majority of women in Saudi Arabia want more rights, more women in leadership roles, more safety that they do not feel they have under the male guardianship system, and to be viewed as equal to their male counterparts.

  • Biggest Retail Footprint At Sea Opens On Saudi Arabian Cruise Ship

    Saudi Arabia’s first cruise line has set a new retail benchmark by launching a ship with more than 17,250 square feet (1,603 square meters) of shopping space on board. This is claimed by retail concessionaire Gebr. Heinemann to be a new record in the global cruise sector. The vessel will also be the first to offer a fully fledged web store. Cruise Saudi’s new ship is the 1,099-foot-long Aroya, boasting 1,678 cabins and carrying up to 3,362 passengers. In terms of length it is only slightly shorter than Royal Caribbean International’s Icon- and Oasis-class ships which are the biggest at sea and have roughly double Aroya’s capacity (at 6,700 to 7,600 passengers).

     

  • Gulf Cooperation Council: Pursuing Visions Amid Geopolitical Turbulence: Economic Prospects and Policy Challenges for the GCC Countries

    The Gulf Cooperation Council countries have successfully weathered recent turbulence in the Middle East, and their economic prospects remain favorable. Nonhydrocarbon activity has been strong amid reform implementation, although overall growth has decelerated due to cuts in oil production. The growth outlook is positive, as the envisaged easing of oil production cuts and natural gas expansion spur the recovery in the hydrocarbon sector, while the nonhydrocarbon economy continues to expand. External buffers remain comfortable despite current account balances having narrowed. Risks around the outlook are broadly balanced in the near term. More challenging medium-term risks, especially in the context of geoeconomic fragmentation and climate change, call for action on policy priorities to continue to strengthen the private sector and to diversify the economy.

  • Saudi Crude Oil Exports Jumped to Three-Month High in October

    Saudi Arabia’s crude oil exports rose to a three-month high in October, the latest data from the Joint Organizations Data Initiative (JODI) showed on Wednesday. Saudi Arabia, the world’s largest crude oil exporter, shipped 5.92 million bpd of crude to customers in October, up by 174,000 bpd compared to September. This was the highest average export volume from Saudi Arabia for three months, according to the JODI database which compiles self-reported figures from individual countries.

  • Carbon dioxide utilization in the desalination sector in Saudi Arabia: An opportunity for achieving negative emissions

    Recent work has characterized the Kingdom’s geological carbon dioxide (CO2) potential as around 445 gigatons (Gt), but to date, there has been no detailed analysis of the CO2 utilization potential in the Kingdom. Current research at KAPSARC aims to review existing and emerging CO2 utilization routes relevant to Saudi Arabia. This paper focuses on evaluating the untapped potential for CO2 utilization in the Kingdom’s desalination sector and explores the potential of this sector to become a carbon sink, thus contributing to carbon dioxide removal (CDR).

  • Saudi rights progress ‘irreversible’ due to youth popularity, says EU official

    Much of Saudi Arabia’s progress is “irreversible” due to its popularity among young people, an EU human rights emissary has told Arab News. Olof Skoog, EU special representative for human rights, sat down with Arab News to discuss the progress made by the Kingdom, ahead of the 4th EU-KSA Human Rights Dialogue that took place in Riyadh on Tuesday. Regarding the changes in recent years, Skoog said: “I see them very much as genuine reforms. Saudi Arabia (has) a very youthful population. The country is quickly modernizing, in a way, more attuned to what happens around the world, and the young people are very much onto that.”

  • 2034 World Cup in Saudi Arabia: What to expect

    In Saudi Arabia's bid report, they detail that the weather in June and July in major cities like Riyadh and Jeddah would be between 32 and 38 degrees Celsius (89.6 and 100.4 degrees Fahrenheit ) — conditions that are not conducive to playing. Temperatures in the country are at their mildest between October and April, which poses a challenge to organizers. Furthermore, tournament organizers will also have to consider Ramadan, the Muslim month of fasting and prayer taking place from mid-November to mid-December in 2034. With the global player's union FIFPro currently going after FIFA because of an overloaded playing calendar, football's world governing body will have to manage the complicated European playing schedule, especially with the reformed Champions League format now including games in January.