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Saudi Aramco Selects U.S. Firms to Audit Reserves for 2018 IPO
- January 27,2017
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- SUSTG Team
Saudi Aramco has tasked two U.S. industry leaders in oil reserves auditing to review the content of its deposits as it pushes ahead with a share listing next year, industry sources told Reuters on Thursday. Saudi Aramco has asked a unit of oil services firm Baker Hughes – Gaffney, Cline and Associates – to carry […]
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First Jets from Record-Setting U.S.-Saudi Military Sale Delivered, Showcased in Riyadh
- January 26,2017
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- SUSTG Team
Saudi Arabia showcased its newest F-15SA fighter jet at an airshow in Riyadh on Wednesday, in a demonstration that the Kingdom has begun receiving items purchased six years ago in the most expensive U.S. arms sale to a foreign country, Reuters reports. Custodian of the Two Holy Mosques King Salman commissioned the F15-SA fighter aircraft during […]
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Tunnel for Longest Riyadh Metro Line 3 Complete as City Eyes Long-Term Solution to Traffic, Pollution
- January 24,2017
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- Lucien Zeigler
Tunnel excavation for Line 3 of the under-construction Riyadh Metro – the longest line of the six total being created as part of the project – has been completed, according to a report. Line 3 is also known as the Orange Line and is more than 25 miles long, of which almost 7 miles will be underground, […]
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Russia Takes Title of Top Oil Supplier to China for the First Time Ever in 2016; Unseats Saudi Arabia
- January 23,2017
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- SUSTG Team
Russia overtook Saudi Arabia as China’s top oil supplier last year for the first time ever amid the ongoing battle for market share in the world’s biggest energy market, Bloomberg reports. The recent takeover as top supplier to China comes as analysts parse comments made by Saudi Arabia’s Minister of Energy and Natural Resources Khalid al-Falih […]
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Saudi Arabia May Cancel $20b in Projects to Cut Costs, Hires PwC
- January 9,2017
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- SUSTG Team
Saudi Arabia is reportedly working with accounting and consulting firm PricewaterhouseCoopers (PwC) on plans to cancel up to $20 billion of projects as the Kingdom continues to seek ways to cut costs as part of economic reforms, Bloomberg reports. The Ministry of Economy and Planning has appointed PwC to review $69 billion of government contracts and aims […]
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Saudi-backed Softbank Technology Investment Fund Hits $100b Mark Ahead of Schedule
- January 6,2017
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- SUSTG Team
Oracle founder Larry Ellison will join Apple, Qualcomm and Foxconn in backing SoftBank’s record-setting technology fund, allowing the Japanese telecoms group to hit its $100 billion goal weeks ahead of schedule, the Financial Times reports. According to the report, the Saudi-backed fund may be oversubscribed by the time it closes. Abu Dhabi’s sovereign wealth fund is […]
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U.S to Transfer Four Gitmo Detainees to Saudi Arabia
- January 5,2017
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- SUSTG Team
The United States will transfer four detainees to Saudi Arabia from the Guantanamo Bay military prison in the next 24 hours, according to reports. President Barack Obama is making a final push to reduce the number of inmates at the prison, despite pressure from president-elect Donald Trump to halt such releases. According to Reuters, the release “will […]
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Four of Seven Saudi Bodies are Returned Home as Kingdom Reels from Lost Youth in Istanbul Terrorist Attack
- January 4,2017
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- SUSTG Team
The bodies of four Saudis who were slain in the attack on an Istanbul nightclub were returned home as the Kingdom reels from the loss of its citizens at the hands of Daesh terrorists abroad. The attack killed seven Saudis and 39 total from 14 countries. Included in the four dead returning to the Kingdom today […]
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Another ‘Mixed Picture’ for Saudi Economy as Data Show Negatives on Consumer Spending, Inflation Down
- January 3,2017
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- SUSTG Team
Jadwa Investment’s recently released Chartbook for the month of January 2017 finds a mixed picture for the Saudi economy, including negative data on consumer spending and a significant dip in net change to government accounts with SAMA. Data on consumer spending came out negative “partly reflecting the impact of allowance reductions to public sector employees,” […]
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Outside Riyadh, Video Shows Making of Largest Tire ‘Doughnut’ Ever – and it’s Pink
- December 29,2016
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- SUSTG Team
It is sometimes called a doughnut – the tire marks left on the road or dirt after spinning your car’s wheels into a burnout. Just outside of Riyadh, Saudi Arabia, someone created the biggest ‘doughnut’ ever according to the Guinness Book of World Records, but the purpose wasn’t just for one last superlative for the Middle […]
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MUST-READS
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Curator announced for largest contemporary art exhibition in Saudi Arabia
Saudi Arabia’s first art biennale will be curated by Philip Tinari, the director and CEO of China’s leading contemporary art institution. The head of the UCCA Center for Contemporary Art in Beijing, he is an internationally renowned curator and critic.
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Yemeni government, separatists start executing Riyadh pact, says coalition
The Saudi-led coalition engaged in Yemen said that implementation of a long-delayed deal aimed at reuniting its Yemeni allies would start on Thursday with a troop redeployment in the south ahead of announcing a new power-sharing government. The agreement, first announced in November and revived in July, was brokered by Riyadh to end a standoff between Yemen’s internationally recognised government and southern separatists who are both part of the coalition that has been battling the Iran-aligned Houthi movement since 2015.
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Monshaat partners with US university to help Saudi SMEs
The new academy will help SMEs become more efficient and adopt industry business practices, a Monshaat official told Arab News on Tuesday. A three-month program will cover corporate innovation strategies, market development, growth management and SMEs scale-ups services.
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Saudi Backed Lucid Motors to Start Production of New EVs in Spring 2021
“We broke ground on the 590-acre Lucid AMP-1 site in Casa Grande on Dec. 2, 2019, and slightly less than a year later we have completed the first purpose-built EV factory in North America,” Peter Rawlinson, CEO of Lucid Motors, said in a press statement. “The effort and agility demonstrated by this team is truly astounding, as we’re already commissioning equipment compatible with the Lucid manufacturing system to start production of the next-generation EV, the Lucid Air, in just a few months,” he added.
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Saudi Arabia ranked first across Arab world in Global Artificial Intelligence Index
Saudi Arabia has been ranked first across the Arab world and 22nd globally in the Global Artificial Intelligence Index, showed Tortoise Intelligence Index report. The kingdom ranked second worldwide in the “Government Strategy” standard, and took 9th place globally in the “Operating environment” standard, according to the report.
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Saudi Arabia’s Underground Art Scene Finally Hits the Mainstream
“Art is something special; it is food for your eyes and soul. The more we see it, the more we think and develop. That is why I want to create even more art to be displayed in the city,” he said. “I use Arabic calligraphy to draw objects and merge it with contemporary art because our language is beautiful, calligraphy itself is an art — I can mold it to create what I want and get the feeling across to others.”
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Gantz says his party will vote with the opposition to dissolve parliament
Defense Minister Benny Gantz said on Tuesday his party will vote in favor of an opposition-backed bill to dissolve the Knesset, which would come for a preliminary vote on Wednesday, as he continued to butt heads with coalition partner Prime Minister Benjamin Netanyahu.
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State Department approves $350M deal for security services to Saudi Arabia
"This proposed sale will continue to improve Saudi Arabia's capability to meet current and future threats by utilizing USMTM's continued efforts to train, advise, and assist the Saudi Arabian Armed Forces to build defense capacity and capability through military exercises and professional military education. USMTM conducts non-combat, institutional advising that assists the MOD in developing, training, and sustaining a capable deterrent to regional threats," the DSCA said.
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Saudi Arabia is Abu Dhabi’s biggest non-oil trade partner between March and August
Saudi Arabia was the number one destination for non-oil goods from Abu Dhabi between March and August this year, with trade between the Kingdom and the emirate amounting to AED15.3 billion ($4.16 billion), according to official figures released on Monday.
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US, UK and Saudi Arabia participate in MCM interoperability training
The training provided the three navies with an opportunity to boost mutual interoperability during mine-hunting missions and communications, as well as strengthen partnerships by closely working with regional partners.
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