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Difficult Times for the Saudi Binladin Group
- May 5,2016
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- SUSTG Team
The Saudi Binladin Group (SBG) is facing its toughest challenges in the construction giant’s 85 years of operation as tightened government spending and a 8-month restriction on new projects in the pipeline has undermined the company’s finances. Saudi Binladen has announced a reduction in jobs totaling 77,000, or about one-third of its total workforce. “The […]
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The 5 Major Changes Saudi Arabia’s Capital Markets Authority Made to Increase Foreign Investment in the Saudi Stock Market
- May 3,2016
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- Lucien Zeigler
Saudi Arabia’s Capital Markets Authority (CMA) has significantly lowered the barriers to entering the Saudi stock market as a foreign investor and increased the amount which a foreigner may own of a Saudi company, the bourse announced in a release today. “These rules were implemented with the aim of raising the bar in relation to investing […]
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Mining in Focus for ‘Vision 2030’ as Ma’aden Appoints Health Minister Khalid al-Falih Chairman, Reshuffles Board
- May 2,2016
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- SUSTG Team
Saudi Arabia’s ‘Vision 2030’ plan to diversify its economy identifies the mining and minerals sector as one of the top non-oil growth sectors for the Kingdom. Days after the Vision 2030 plan was announced the Saudi Public Investment Fund (PIF) reshuffled the board of the Saudi Arabian Mining Company – known as Ma’aden – and […]
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Commentary: Saudi Arabia’s Vision 2030, Don’t Miss the Point
- April 29,2016
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- Richard Wilson
While Saudi Arabia’s Vision 2030 was formally endorsed by the Saudi Council of Ministers and published on April 25, 2016, anticipation about the plan had been building for months. McKinsey & Company’s 165-page Moving Saudi Arabia’s Economy Beyond Oil in December 2015 confirmed the depth of the analysis underway within the Saudi government while Deputy […]
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The 13 ‘Programs’ in Saudi Arabia’s Vision 2030
- April 27,2016
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- Lucien Zeigler and Richard Wilson
Saudi Arabia’s Vision 2030 document, released on Monday April 25th, provides an ambitious roadmap for significant changes to the Kingdom’s economy and society over the next 15 years. The document highlights three general themes: a “vibrant society“, a “thriving economy“, and an “ambitious nation,” under which the document makes commitments to achieve progress on both […]
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Full Text: Saudi Arabia’s ‘Vision 2030’ National Transformation Program
- April 26,2016
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- SUSTG Team
Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman, who is chair of the Council of Economic Development Authority (CEDA) and Minister of Defense presented the much-anticipated ‘Vision 2030’ framework of new policies to be pursued by the Saudi government. Here’s the full text of his presentation, as well as the Vision 2030 roadmap itself. The […]
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‘Saudi Vision 2030,’ Saudi Arabia’s National Transformation Plan for a New Saudi Economy, Launches with Media Push
- April 25,2016
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- SUSTG Team
Saudi Arabia’s has launched the ‘Saudi Arabia 2030’ National Transformation Plan (sometimes referred to as ‘Vision 2030’) today with a video announcement on Twitter and the first video interview with Deputy Crown Prince Mohammed bin Salman given to the news channel Al Arabiya. Details of the comprehensive plan are expected to include economic and social […]
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Deputy Crown Prince Mohammed bin Salman Opens Up on Personal History; ‘Vision for the Kingdom of Saudi Arabia’
- April 22,2016
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- SUSTG Team
In his second exclusive and wide-ranging interview with Bloomberg, Saudi Arabia’s deputy crown prince, chair of the Council of Economic and Development Affairs (CEDA), and minister of defense opened up on his rise to power, his initial struggles and ultimate acceptance under the late King Abdullah, and his fondness for Winston Churchill and Sun Tzu’s The […]
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President Obama, King Salman Attend GCC Summit in Riyadh; Pledge to build on ‘Deep Strategic Partnership’
- April 21,2016
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- Lucien Zeigler and Richard Wilson
President Obama and King Salman attended the summit of the Gulf Cooperation Council (GCC) members in Riyadh, Saudi Arabia today at the Al-Diriyah Palace. The White House on Wednesday called the summit “an important opportunity for the United States and its Gulf partners to strengthen cooperation against [the Islamic State group] and also to address regional […]
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Muted Reception for President Obama in Riyadh Belies Strong U.S.-Saudi Cooperation on Security, Economy
- April 20,2016
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- Lucien Zeigler
President Obama arrived in Riyadh today to a chilly official reception from Saudi Arabia indicative of strained ties between his administration and the Kingdom. While King Salman welcomed the other heads of state of the visiting GCC leaders with “pomp and circumstance,” President Obama deplaned Air Force One and was met by the governor of Riyadh […]
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MUST-READS
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U.S. Special Envoy Lenderking’s Travel to Oman and Saudi Arabia
In Oman and Saudi Arabia, Special Envoy Lenderking met with counterparts to discuss the need to stop Houthi attacks in the Red Sea. These attacks continue to endanger the lives of civilian mariners, harm economies in the region and raise barriers to the delivery of critical humanitarian assistance to Yemenis and those in need across the region. The Special Envoy emphasized steps to counter Houthi attacks, including identifying and interdicting illicit goods and weapons from Iran and deterring Houthi cooperation with malign regional and international actors.
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US court grants ‘first of its kind’ compensation to Abu Ghraib victims
A US court has ordered an American military contractor to pay 42M USD in compensation to three Iraqi detainees tortured at the infamous Abu Ghraib prison in 2003-4. The long-running and widely covered case detailed severe physical and psychological abuse against the plaintiffs. Coming after a 16-year legal battle, observers are divided over whether the verdict will lead to broader accountability for abuses carried out by the US military and its allies.
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Israel and Lebanon’s Hezbollah start a ceasefire after nearly 14 months of fighting
The ceasefire calls for an initial two-month halt to fighting and requires Hezbollah to end its armed presence in southern Lebanon, while Israeli troops are to return to their side of the border. Thousands of additional Lebanese troopsand U.N. peacekeepers would deploy in the south, and an international panel headed by the United States would monitor compliance. The ceasefire began at 4 a.m. Wednesday, a day after Israel carried out its most intense wave of airstrikes in Beirut since the start of the conflict that in recent weeks turned into all-out war. At least 42 people were killed in strikes across the country, according to local authorities. The ceasefire does not address the devastating war in Gaza, where Hamas is still holding dozens of hostages and the conflict is more intractable.
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Arwa Damon: Gaza’s Wounds
I am Syrian-American. I grew up in a very cross-cultural household, I always like to say our breakfast being both labneh and zaatar and blueberry pancakes. I felt as if I needed to go into journalism to try to explain people to each other. I ended up in Iraq, and I basically almost never left covering conflict, or humanitarian crises, or just people. The dynamics of the wars themselves are always very different. The mechanics of the war are always very different. But there are these core similarities that transcend the borders and the regions from Afghanistan to Iraq to Sudan, to you name it, and that is the way that war and violence and loss and pain scars a person—scars a child.
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Ceasefire in place, Biden signals optimism for broader Middle East peace
Biden said the military diminishment of Hezbollah will put pressure on Hamas to return Israeli hostages, and to reach their own ceasefire agreement with Israel—potentially opening the door for a long-term peace and a Palestinian State. Capitulation by Hamas, which the White House says is more likely without military support from Hezbollah, would “bring an end to the fighting, which would make possible a surge of humanitarian relief. Over the coming days, the United States will make another push for Turkey, Egypt, Qatar, Israel, and others to achieve a ceasefire in Gaza, for the hostage release, and the end of the war without Hamas in power.”
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Could Riyadh Air’s brand help Saudi Arabia take off?
A strong national brand can be used as the basis for attracting inward investment, talented foreign workers and international tourists. Countries such as the US and the UK have long relied on established branding strategies, while others such as South Korea and Japan have launched initiatives such as ”Hallyu” (the Korean Wave) and ”Cool Japan” to global acclaim. As Qatar Airways and Emirates demonstrate, regional airlines have an outsize role to play in nation-branding. A lot is therefore riding on the soon-to-be-launched Saudi carrier Riyadh Air and its brand. Sports will be a major component of Riyadh Air’s proposition. The airline has signed shirt sponsorship and stadium naming rights deals with Spain’s Atletico Madrid. This initial branding effort signals a desire to compete directly with Emirates’ Real Madrid partnership, showcasing a bold and disruptive positioning.
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History To Be Made With Record Number Of Saudi Players Competing At Pif Saudi International
Othman Almulla, Faisal Salhab, Saud Al Sharif, Khalid Walid Attieh and Shergo Al Kurdi will take part in the competition, marking a groundbreaking moment for Saudi golf on a global stage. Almulla, Saudi Arabia’s first professional golfer, has paved the way for the games growth in the Kingdom and remains a key ambassador for the sport. Before turning professional in 2019, he became the first Saudi golfer to win the Qatar Open and qualify for two professional events, the 2007 Dubai Desert Classic and the 2008 Qatar Masters. This record-breaking participation highlights the growing strength of Saudi golfers, who will be competing alongside global superstars such as Bubba Watson, Sergio Garcia, Dustin Johnson, Tyrrell Hatton, Charl Schwartzel and Louis Oosthuizen, reflecting one of Saudi Arabia’s Vision 2030 goals, which aims to establish the Kingdom as a global golf destination.
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Perspective: Is Saudi Arabia’s Opening Like China’s? Yes and No
Foreign fund managers have likened Saudi Arabia’s 2016 opening to China’s. I don’t think that’s quite fair, because Saudi is already a developed country in terms of infrastructure. Its roads are well-built and its malls are full of American chain stores – nothing like the 1980s China I knew. What we saw was an open, friendly nation that welcomed visitors. We blended in as well as any foreigners would in Abu Dhabi or Dubai, and we didn’t spot the much-feared religious police. In Medina, we accidentally roamed into the courtyard of the Prophet’s Mosque, not knowing that it was for Muslims only. When a policeman asked us to leave, his tone was apologetic.
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Joy Awards: MENA’s biggest awards show set to return to Saudi Arabia’s Riyadh
Saudi Arabia’s General Entertainment Authority (GEA) announced on Tuesday the return of Joy Awards for its highly anticipated fifth edition with nominations for all categories now open. The region’s largest celebrity awards show – part of Riyadh Season and co-organized by MBC Group – will take place on January 18, 2025. The award show recognizes and honors the GCC and wider Arab world’s best artists and their achievements. Spanning cinema, television, music, sports, and digital influence, the ceremony serves as a premier platform for entertainment excellence, honoring the exceptional talent that drives cultural vibrancy and standout creativity throughout the Middle East and North Africa (MENA) region.
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Huge deal struck but is it enough? 5 takeaways from a dramatic COP29
COP29 is over, with developing countries complaining that the $300bn (about £240bn) a year in climate finance they will receive by 2035 is a "paltry sum". Many of the rich country voices at the UN's climate conference were amazed that developing nations were unhappy with what on the surface seems a huge settlement. It is an improvement - on the current contribution of $100bn (£79.8bn) a year. However, the developing world, which had pushed for more, had many genuine issues with the final sum. Ultimately, the developing world was compelled to accept it, with many rich countries pointing to next year's arrival of President Donald Trump, a known climate sceptic, and arguing that they would not get a better deal.
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