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Yemen’s Houthis Fire Another Missile into Saudi Arabia as Kingdom, Iran Spar at UN over War
- October 12,2016
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- SUSTG Team
Saudi Arabia says it has shot down a ballistic missile fired into the Kingdom by Houthi rebels and their Iranian allies in the latest incident in Yemen’s civil war that has raged for nearly 19 months. The missile targeted the southwestern city of Khamis Mushait and was destroyed Tuesday night without causing any injuries, the Saudi Press […]
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Despite Downturn, Half in New Poll Expect Saudi Economy to Improve
- October 11,2016
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- SUSTG Team
With tough economic decisions at hand and the price of oil at a tipping point, where is the Saudi economy heading? In a recent poll conducted by Bayt.com and YouGov, 50% of respondents in Saudi Arabia expect business conditions to improve in one year, and 40% believe things will improve in the next six months. […]
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Deadly Coalition Missile Attack on Funeral in Yemen Draws International Condemnation, Prompts U.S. Review of Support
- October 10,2016
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- Lucien Zeigler
The ongoing conflict in Yemen was further inflamed this weekend after a missile attack on a funeral hall killed over 160 civilians, sparking outrage across the war-torn country. Yemeni officials and witnesses are blaming the Saudi-led coalition fighting in Yemen for the attack, which threatens to significantly alter the war’s course. The coalition initially denied […]
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Video: Paramotoring in Saudi Arabia’s Qassim Desert
- October 7,2016
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- SUSTG Team
A recently released report and video by Reuters highlights the start and growth of a “paramotoring” club in the Qassim Desert in Saudi Arabia as “a hobby, curiosity, a change.” Paramotoring, also referred to as powered paragliding, involves the use of a motor driving propeller that is worn on one’s back. The motor can be stopped and started in […]
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Top Saudi Investment Officials in New York for Two-Day JPMorgan Chase Event
- October 4,2016
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- SUSTG Team
Saudi Capital Market Authority Chairman Mohammed Al-Jadaan and Tadawul stock exchange Chief Executive Officer Khalid Al Hussan are among officials attending a two-day event in New York City this week organized by JPMorgan Chase & Co., Bloomberg reports. According to Bloomberg, senior representatives of the kingdom’s economy ministry and central bank will also be present. The […]
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Saudi Arabia Switches to Gregorian Calendar
- October 3,2016
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- SUSTG Team
Saudi Arabia has shifted to the Gregorian or “Western” calendar as a basis for paying civil servants as part of broader fiscal changes, according to reports. The kingdom adopted the lunar Islamic calendar when it was founded in 1932, but the change places its payment schedule in line with the West. It also brings civil […]
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Saudi Arabia’s Foreign Ministry Criticizes JASTA, Congress Weighs Adjustment of Law
- September 30,2016
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- SUSTG Team
Although the Congressional override of President Obama’s veto on the controversial Justice Against Sponsors of Terrorism Act (JASTA) was anticipated, it’s reality has proved shocking to U.S. leaders as well as countries globally. Saudi Arabia’s foreign ministry has issued a statement strongly condemning the legislation and noted, as has been done frequently in the run-up […]
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News Analysis: In Push for Diversified Economy, Saudis Share in Sacrifice
- September 28,2016
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- Lucien Zeigler
As part of its ongoing drive to reduce government spending Saudi Arabia announced that it will suspend pay increases for public sector employees and slash Minister-level pay and benefits, sending a message that all Saudis will share in the sacrifice as tries to balance its budget and diversify its economy away from oil. The decision […]
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Opposition to JASTA ‘Bubbles’ but Override Still Likely after White House Veto on Friday
- September 26,2016
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- SUSTG Team
President Obama vetoed the Justice Against Sponsors of Terrorism Act (JASTA) on Friday, setting up an expected showdown with Congress over the controversial bill that would open up foreign nations to lawsuits in the United States. In a thoughtful letter to Congress attached to the veto, President Obama says that while he has deep sympathy […]
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Event Alert: King of Bahrain, Secretary Kissinger, Gen. David Petraeus Headline C3 Business Summit in New York
- September 22,2016
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- SUSTG Team
Scheduled to take place on the heels of the 71st U.N. General Assembly in New York on September 26 and September 27, the 2016 C3 Business and Healthcare Summit has announced the confirmed participation of His Majesty King Hamad Bin Isa Al Khalifa and The Honorable Dr. Henry Kissinger. This edition of the well-established C3 Summit series will examine ISIS, Brexit, the growing concerns […]
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Saudi Arabia Regains Some Oil Market Share From Russia in Asia
Saudi Arabia’s oil exports to Asia rose in November, while Russia’s crude sales in the world’s most important oil-importing region fell amid lower purchases by Moscow’s two key markets, China and India. Recovering Asian refining margins, a decline in the premium of the Dubai benchmark to Russia’s Urals, and rising shipping costs for Russia’s crude helped Saudi Arabia boost its crude oil supply to Asia by 550,000 barrels per day (bpd) in November, according to data from LSEG Oil Research cited by Reuters’s columnist Clyde Russell. Saudi crude oil exports to Asia jumped to 5.83 million bpd last month, up from an estimated 5.28 million bpd in October.
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Iraqi fighters head to Syria to battle rebels but Lebanon’s Hezbollah stays out, sources say
Hundreds of Iran-backed Iraqi fighters crossed into Syria on Monday to help the government fight rebels who seized Aleppo last week, but Lebanon's Hezbollah has no plans for now to join them, according to sources. Iran's constellation of allied regional militia groups, aided by Russian air power, has been integral to the success of pro-government forces in subduing rebels in Syria who rose up against President Bashar al-Assad in 2011.
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Climate solution: Sails make a comeback in shipping, to dent its huge carbon footprint
The international merchant fleet of more than 100,000 ships transports more than 80% of global trade. But it’s also responsible for about 3% of global greenhouse gas emissions. Without a quick switch from dirty fuels to cleaner energies, its pollution is forecast to soar. Mariners pushing for wind power say investors used to view them as something of a joke. But as they pioneer a comeback for sail-powered cargo ships, they’re having the last laugh. The cleanest of the new vessels spearheading wind’s embryonic revival are almost pure-sail vessels like Grain de Sail II. Half the length of a soccer field and able to carry 350 tons of goods in its holds, it uses its diesel engine only to maneuver in and out of port.
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Persistent Fall in Private Borrowing Brings Global Debt Down
Global debt decreased about one percentage point to 237 percent GDP. The values for 2023 are now available from the just released IMF’s Global Debt Database. Global private debt fell by 2.8 percentage points to 143 percent of GDP, below the 2019 level and more than compensated for the turning up in public debt. According to the latest Fiscal Monitor, global public debt is high, rising, and risky.
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Macron and Saudi crown prince sign partnership deal, call for Lebanon elections
President Emmanuel Macron and Saudi Crown Prince Mohammed bin Salman signed a strategic partnership on Monday aimed at deepening bilateral ties and de-escalating conflict in the Middle East, including Lebanon, where the two leaders called for presidential elections. Macron's state visit is the first by a French president to Saudi Arabia since Jacques Chirac in 2006, cementing what the presidency calls a "very close relationship". In 2021, Macron became one of the first Western leaders to meet Prince Mohammed in Saudi Arabia after the 2018 murder of Saudi journalist Jamal Khashoggi at Riyadh's consulate in Istanbul.
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Mapping Saudi Arabia’s low emissions transition path by 2060: An input-output analysis
This study analyzes Saudi Arabia's strategy to reduce emissions by 2060, as outlined in the Saudi Green Initiative framework (SGI). Using a two-stage Leontief input-output model, we analyze economic criteria for meeting the low emissions target and identify potential green project financing sources. The analysis focuses on Saudi Vision 2030's economic diversification initiatives and the transition to a net-zero carbon economy.
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Saudi Arabia to abandon US defence treaty for more modest alternative
A full-blown US-Saudi treaty would need to pass the US Senate with a two-thirds majority and this would be a non-starter unless Riyadh recognises Israel, the sources said. The pact now under discussion would involve expanding joint military exercises and drills to address regional threats, mainly from Iran. It would foster partnerships between US and Saudi defence firms, with safeguards to prevent collaboration with China, the sources said. The agreement would promote Saudi investment in advanced technologies, especially drone defence. The US would increase its presence in Riyadh through training, logistics and cyber security support, and might deploy a Patriot missile battalion to enhance missile defence and integrated deterrence. “Saudi Arabia will get a security deal which will allow more military cooperation and sales of US weapons, but not a defence treaty similar to that of Japan or South Korea as initially sought,” said Abdelaziz al-Sagher, head of the Gulf Research Institute think-tank in Saudi Arabia.
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Red Sea Film Foundation Managing Director on Saudi Film Growth, Co-Productions and Stars at RSIFF
The fourth edition of the Red Sea International Film Festival (RSIFF) in Jeddah is set to once again put a spotlight on the burgeoning film industry in Saudi Arabia, the Middle East and beyond. Showcasing a competition lineup of 15 titles, film festival circuit favourites, and more, it kicks off on Dec. 5 with an opening night gala screening of Karim Shenawi’s The Tale of Daye’s Family, the story of an 11-year-old albino, and close on Dec. 14 with Michael Gracey’s Robbie Williams biopic Better Man. Viola Davis is among the stars to be featured during the fest this year. Ahead of the 2024 edition, Shivani Pandya Malhotra, managing director of the Red Sea Film Foundation, talked to THR about the state of the Saudi film industry, co-productions with other countries, growth opportunities and the role of stars at the festival.
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Dubois to defend world heavyweight title against Parker in Saudi Arabia
The International Boxing Federation’s (IBF) world heavyweight champion Daniel Dubois will defend his title against Joseph Parker on February 22 in Riyadh, event organisers in Saudi Arabia have confirmed. The fight, announced Tuesday, will be the co-main event for the undisputed world light heavyweight title rematch between Artur Beterbiev and Dmitry Bivol in a seven-bout card announced by Turki Alalshikh, the head of the Saudi General Entertainment Authority
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Introduction of Electric Vehicles in Saudi Arabia: Impacts on Oil Consumption, CO2 Emissions, and Electricity Demand
In this study, we project the number of internal combustion engine (ICE) vehicles in Saudi Arabia up to 2050. The projected number of vehicles is then used to project the oil demand and CO2 emissions associated with the road transport sector by 2050. On the basis of the projected number of ICE vehicles, we design three scenarios for developing electric vehicles (EVs) (high-, moderate-, and low-growth scenarios) to determine the impact of the expansion of EVs on future oil demand, CO2emissions, and electricity demand.
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