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Report: Saudi Oil Minister Khalid Al-Falih Met With Top Commodity Hedge Funds
- August 4,2017
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- SUSTG Team
Saudi Arabia’s Minister of Energy, Industry and Mineral Resources Khalid Al-Falih met in private with some of the world’s top commodity hedge funds in July, a break from tradition in order to gather investor views on the state of the market, Bloomberg reports. In the past Saudi Arabian officials have criticized the role of speculators and hedge funds in […]
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Recent Economic Data for July 2017 Points to Mixed Picture for Saudi Economy
- August 3,2017
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- SUSTG Team
Growth in Saudi Arabia’s non-oil private sector accelerated in July, albeit at a moderate pace, while the expansion in employment slowed, according to a Reuters report citing a Emirates NBD survey. “The seasonally-adjusted Emirates NBD Saudi Arabia Purchasing Managers’ Index (PMI) rose to 55.7 last month from 54.3 in June. A level above 50 means business is […]
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With Riyadh Metro Progressing, Bechtel Eyes Mining Sector Growth as Saudi Arabia Diversifies
- August 2,2017
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- SUSTG Team
Bechtel, the construction company behind some of the world’s largest and most impressive megaprojects, is eyeing growth in Saudi Arabia’s mining and minerals sector, according to reports and quotes by the company’s Saudi Arabia country manager. “Mining and metals is something that is of extreme interest to us,” said Abdulrahman Al Ghabban, who was appointed […]
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Plans to Tap Massive Tourism Potential for Saudi Arabia’s Red Sea Unveiled
- August 1,2017
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- SUSTG Team
Saudi Arabia wants to turn hundreds of miles of its Red Sea coastline into a global tourism destination, according to an announcement by the government’s Public Investment Fund (PIF) and reports. The development will include “50 islands and 34,000 square kilometers — an area bigger than Belgium — between the cities of Umluj and Al Wajh […]
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Iraq’s Moqtada al-Sadr Visits Jeddah, Meets with Crown Prince Mohammed bin Salman
- July 31,2017
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- SUSTG Team
Iraq’s influential Shi’ite cleric Moqtada al-Sadr made a rare visit to Saudi Arabia on Sunday, where he met the Saudi crown prince and other officials, according to the SPA and Reuters. It is the first visit by the powerful anti-American Shi’ite cleric in 11 years. Al-Sadr is the leader of the Sadrist Movement and the leader of Saraya […]
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Saudi Female Private Sector Employment Grew 10% in 2016, Ministry of Labor Says
- July 26,2017
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- SUSTG Team
The employment of Saudi women in the private sector increased 10 percent in 2016 over the previous year, according to the Saudi Ministry of Labor and Social Development as reported in the Saudi Gazette. The latest figures show a continuation of a dramatic increase in the last four years for female participation in the workplace. Based on figures provided […]
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OPEC Discipline Partly to Blame for Oversupply, but Saudi Leadership May Boost Prices
- July 25,2017
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- SUSTG Team
Jadwa Investment’s recently released quarterly oil market update for Q2 2017 questions if discipline within OPEC is waning as oil’s price continues to stay low on international indices as high supply persists, but recent moves by Saudi Arabia in Russia this week indicate action is forthcoming to curb supply. Oil prices declined by 8 percent […]
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President Trump Approves Credentials of New Saudi Ambassador to the U.S. Prince Khaled bin Salman
- July 24,2017
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- SUSTG Team
US President Donald Trump received at the White House on Friday newly appointed Saudi ambassador Prince Khaled bin Salman bin Abdulaziz to approve his credentials as an official diplomat to Washington. Prince Khaled is the 10th Ambassador of Saudi Arabia to the US since 1945. According to the London-based Saudi newspaper Asharq Alawsat, US political analysts believe […]
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King Salman Issues Royal Decrees on Security as U.S. Praises ‘Strong Counterterrorism Relationship’
- July 21,2017
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- SUSTG Team
Saudi Arabia’s King Salman issued a number of royal decrees on Thursday regarding the Kingdom’s security governance, creating a new security authority and separating forces from the Ministry of the Interior, according to reports. The executive order creates a security authority known as the “The Presidency for State Security” linked with the Prime Minister’s Office, the […]
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Saudi Arabia Nears First Utility-Scale Wind Power Project
- July 17,2017
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- SUSTG Team
Saudi Arabia moved a step closer toward the construction of its first utility-scale wind-power project, according to reports. The energy ministry “asked potential bidders and plant developers to submit their qualifications to build the 400-megawatt plant at Dumat Al Jandal in the kingdom’s northwestern Al Jouf region,” Bloomberg reports, citing an emailed statement. “Companies will be able to […]
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Light Art Festival Illuminates Saudi Capital Riyadh
Despite an ongoing travel ban due to the COVID-19 pandemic, the kingdom decided to move forward with the inaugural edition of the Noor Riyadh (‘Noor’ means light in Arabic) festival. The event launched on March 18 features 33 spectacular installations, immersive art experiences and more than 1,000 pieces of public art spread out across the city.
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Iraqi Airways to start direct flights to Abu Dhabi
Iraqi Airways plans to start direct flights to the United Arab Emirates’ capital Abu Dhabi on May 1, the state-run Iraqi News Agency reported on Sunday, citing a company statement. The annoucement came ahead of a visit on Sunday to Abu Dhabi by Iraqi Prime Minister Mustafa al-Kadhimi as part of efforts to forge close ties with oil-rich Gulf Arab monarchies.
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US Mission to Saudi Arabia announces new women’s entrepreneurship program in partnership with Atlantic Council, AmCham Saudi Arabia, and Quantum Leaps
Strong explained that “our companies view these partnerships as their own paths to success,” citing UPS’s Women Exporters Program with the General Authority for Small and Medium Enterprises (Monshaat), ExxonMobil’s Global Women in Management Program with the King Khalid Foundation, Lockheed Martin’s investment in STEM education programs in Saudi Arabia, and the PepsiCo Foundation’s Tamakani accelerator with INJAZ Al-Arab as examples.
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Iran nuclear deal parties to seek US return at Vienna talks
Iran nuclear deal participants have agreed to meet for talks in Vienna on the return of the United States to the accord. Mediators are to hold "separate contacts" with US representatives in the Austrian capital.
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Saudi Arabia energy minister and U.S. counterpart agree to enforce cooperation in the energy field – SPA
Saudi Arabia’s energy minister Prince Abdulaziz bin Salman and the U.S. counterpart Jennifer Granholm spoke on phone on Thursday and agreed to work closely to enforce cooperation in the energy field, the Saudi state news agency reported.
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Saudi-led coalition thwarted two explosives-laden drones fired at Saudi city
The Saudi-led coalition said on Thursday it intercepted and destroyed two explosives-laden drones launched by Yemen’s Houthis towards the southern Saudi city of Khamis Mushait, state TV reported. Houthi military spokesman Yahya Sarea acknowledged the attack, saying in a Twitter post that the group had fired two drones at the King Khalid air base in Khamis Mushait.
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Foreign investment licenses in Saudi Arabia rise 60% in the last quarter of 2020
Saudi Arabia issued 466 investment licenses to foreign investors in the fourth quarter of 2020, a 60 percent jump on a year earlier, Asharq Business reported, citing Saudi government data. December was the busiest month, with 189 investment licenses issued. Foreign investment flows rose by more than 20 percent during the year.
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Saudi Unemployment Falls in Fourth Quarter As Virus Slows
Unemployment among Saudi nationals fell to 12.6% in the fourth quarter as coronavirus cases in the kingdom declined and business began to pick up. That compares to 14.9% in the third quarter. Joblessness among Saudi men reached 7.1%, while 24.4% of Saudi women were without jobs.
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Extreme E starts this weekend in AlUla, Saudi Arabia
Saudi Arabia is set to host Extreme E's first ever race, the Desert X Prix, on April 3 and 4 at the breathtaking destination of AlUla. Organisers today revealed the reasons behind their choice to launch the first ever season of the series from Saudi Arabia, highlighting its aim to address global issues such as desertification and sustainability.
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Analysis: With stick and carrot, Saudi starts winning over firms in regional race
When CSG opted to shift its regional headquarters this year from Dubai to Riyadh, it marked an early win for Saudi Arabia and proved a surprisingly easy move for the U.S. technology firm: the new office was up and running in just two months.
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