SUSTG.com / Research

Discover stories, topics, and more about Saudi Arebia faster.

We can't find results matching your search.

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

Recent stories from sustg

MUST-READS

  • Saudi project win caps record year

    US-based project management firm Hill International ended 2023 on a high with a major contract win in Saudi Arabia. In a joint venture with Italy’s Italferr and Spain’s Sener, the firm was awarded the contract to provide project management services for the Saudi Landbridge. The estimated $7bn railway project will connect the east and west coasts of the kingdom and is one of the region’s largest infrastructure schemes. For Hill International’s CEO Raouf Ghali (pictured), the award confirms Saudi Arabia’s position as one of the world’s most important and exciting construction markets.

  • Saudi’s PIF sets up new company to manufacture robotic systems and heavy machinery

    Alat will focus on manufacturing products for domestic and international markets within seven business units, the PIF said in a statement on Thursday. These include advanced industries and semiconductors, as well as smart appliances, health, devices and buildings, as well as next generation infrastructure. It will manufacture more than 30 product categories including robotic systems, communication systems, advanced computers and digital entertainment products, as well as advanced heavy machinery used in construction, building and mining. The company, chaired by Saudi Crown Prince Mohammed bin Salman, aims to create 39,000 direct jobs in Saudi Arabia and achieve a direct non-oil gross domestic product contribution of $9.3 billion by 2030.

  • Backs to the wall, Gazans fear Israeli assault on last refuge

    Israeli forces shelled the outskirts of the last refuge on the southern edge of the Gaza Strip on Friday, where the displaced, penned against the border fence in their hundreds of thousands, said they feared a new assault with nowhere left to flee. More than half of Gaza's 2.3 million residents are now homeless and crammed into Rafah. Tens of thousands more have arrived in recent days, carrying belongings in their arms and pulling children on carts, since Israeli forces launched one of the biggest assaults of the war last week to capture Khan Younis, the main southern city, just to the north of Rafah.

  • Saudi Arabia pushes for U.S. defence pact ahead of presidential election

    Saudi Arabia would be willing to accept a political commitment from Israel to create a Palestinian state, rather than anything more binding, in a bid to get a defence pact with Washington approved before the U.S. presidential election, three sources said. Months of U.S.-led diplomacy to get Saudi Arabia to normalise relations with Israel and recognise the country for the first time were shelved by Riyadh in October in the face of mounting Arab anger over the war in Gaza.

  • Exxon, Chevron Surpass Forecasts as Shale Drilling Lifts Output

    Exxon Mobil Corp. and Chevron Corp. surpassed earnings forecasts as bigger-than-expected oil output from shale fields helped cushion the blow from weakening crude prices. Exxon rose more than 2% and Chevron climbed 1.9% in pre-market stock trading. Exxon’s outsized result also was aided by a $1.14 billion boost from unsettled derivatives and record fuel production at its refineries. Chevron, meanwhile, posted adjusted earnings of $3.45 a share that exceeded the Bloomberg Consensus estimate by 23 cents. The oil explorer also raised its dividend by a higher-than-forecast 8%.

  • First Saudi Arabian Grand Prix concert headliners announced

    Turn up the volume because the Saudi Arabian Grand Prix concerts have just been announced and you are going to be happy. The concerts will feature Pharrell Williams and Martin Garrix. Saudi Arabian Grand Prix is racing back into the Red Sea City from Thursday March 7 to Saturday March 9 and will be the second race of the season.

  • Events in January will shape Saudi market in 2024

    As the economic outlook cools, Riyadh has tapped the debt markets. At the start of January, the Finance Ministry said it expects to borrow $23bn in 2024. The financing will be used to finance the deficit in the state budget and to pay existing debt that matures. The ministry added that by the end of 2024, it expects the kingdom’s total debt portfolio to reach SR1.115tn, which is about 29 per cent of GDP. That announcement was quickly followed by the issuance of $12bn of bonds under Saudi Arabia’s Global Medium-Term Note Issuance Programme (GMTN). Later in January, the Public Investment Fund (PIF) completed a $5bn bond issuance.

  • Saudi Arabia among first to start pavilion build for Expo 2025 Osaka

    Saudi Arabia has begun constructing its pavilion at the Expo 2025 Osaka site on Yumeshima Island, making it among the first nations to do so. The design reflects the Kingdom’s history, culture and current economic transformation. The ceremony on Jan. 31 to announce the construction was attended by government delegates from Japan, and officials from other nations participating in Expo 2025 Osaka. Saudi Arabia’s delegation at the ceremony was led by Othman Almazyad, commissioner-general for the Kingdom’s Expo 2025 Osaka.

  • Commentary: Saudi Arabia’s oil production move

    There's no real consensus about why Saudi Arabia ditched plans to raise its max oil pumping capacity — a decision the kingdom has not explained. Some in the energy market's analyst hive-mind see a tacit concession that long-term consumption increases won't match the Saudi's bullish public stance.

  • No Saudi citizens harmed, embassy says as student wearing hijab attacked in US school

    Various news reports and some videos circulating on social media showed a headscarf-wearing student being slammed against a locker and then pushed to the ground by a male student. Many called the assault a hate crime, but Queen Bee School District 16 Superintendent, Joseph Williams, told the Chicago Tribune newspaper that investigators have identified the students and there is no indication that the attack was motivated by bigotry. “This is a serious disciplinary incident and we’re handling it as such, but we have no evidence that this was some act of intolerance related to a matter of faith,” Williams said.