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Recent stories from sustg
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Throwback: Photos of King Salman at King Saud University, 40 Years On
Recently released photos by the Saudi Press Agency (SPA) show King Salman at the King Saud University roughly 40 years ago, as the then-prince assisted in shaping the Riyadh-based University to be what it is today. King Saud University (KSU) is billed as “the premier institution of higher education in the Kingdom of Saudi Arabia. Prince […]
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New Homeland Security Decision Allows Saudi Students to Stay in U.S. for 3 Years By Getting On the Job Training
The United States Department of Homeland Security (DHS) recently published a new rule allowing F1 students the opportunity to stay in the country longer “by getting training on the job at some companies for a period of 36 months,” according to a report in Arab News and information posted to the DHS website. According to DHS, […]
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What Will Be Saudi Arabia’s Next Tourist Destination?
Saudi Arabia’s King Abdullah Economic City (KAEC) attracted more than 100,000 visitors last year, a sign that the planned mega city about 100 miles north of Jeddah on the Red Sea might become Saudi Arabia’s next domestic tourist destination. Although Saudi citizens typically flock to Dubai, Bahrain, or elsewhere abroad for leisure trips, that might […]
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In Bid to Boost Transparency, Saudi Regulators Require International Banks to Disclose Financial Statements
Saudi Arabia’s Capital Markets Authority (CMA) is instructing international banks to publicly disclose financial statements for the first time as the kingdom seeks to boost transparency, according to a report in Bloomberg. The Bloomberg report says that companies under the regulation of the CMA in Saudi Arabia must publish the financial information on their websites […]
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Surge in Flights from Saudi Airports as Kingdom’s Aviation Sector Booms
Saudi Arabia’s airports have seen a “substantial growth in international traffic” as the number of international flight services from the Kingdom’s airport surges 50% since last year. The number of international flight services from the domestic airports jumped by 51.5 percent to 26,361 at the end of 2015 from 17,405 in 2014, according to a […]
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Construction Payment Delays Draw International Attention, Report Says
Foreign governments are pressing both government authorities and company executives in Saudi Arabia “to ensure that local construction firms make delayed salary payments to thousands of workers, a sign of pressure on the kingdom’s economy due to low oil prices,” according to a Reuters report. Construction firms in Saudi Arabia are have been squeezed as […]
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Saudi Arabia Eyes Privatization of Power, Opening Opportunities for International Power Companies
Saudi Arabia is heading towards privatizing the electricity sector and “shifting towards solar and alternative energy in the framework of its efforts to reduce the use of fossil fuels in production rates,” according to a report in Asharq Al-Awsat citing “informed sources.” The Saudi Electricity Company plans to “split into four units with local and […]
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More than 50 Members of U.S. GOP ‘Foreign Policy Community’ Write Open Letter Calling Donald Trump Unfit for Office
An open letter signed by over 50 members of the Republican foreign policy community, including former Department of Homeland Security Secretary Michael Chertoff and former Deputy Secretary of State Robert Zoellick, has called Donald Trump unfit for office and pledged to work to stop him from receiving the Republican nomination. “We the undersigned, members of […]
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Nitaqat Effort Suffers Setback: 2015 was the ’Slowest Annual Increase on Record for Saudi Net Employment’ as Most New Jobs Still Going to Non-Saudis
A recently released Jadwa Investment report on Saudi Arabia’s labor market found little headway being made in Saudi Arabia’s goal of increasing employment of Saudis. According to Jadwa Investment, although Saudi Arabia’s unemployment rate fell slightly from 11.7 percent in 2014 to 11.5 percent in 2015, “of these positions, 368 thousand (or 88 percent) […]
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Saudi Central Bank Announces an ‘Affordable Mortgage’ Program Intended to Boost Housing Sector
Saudi Arabia’s central bank said in a statement it plans to launch an “affordable mortgage” program to finance residential real estate purchases by Saudi citizens, according to reports. Home buyers would be responsible for a down payment of 15 percent of the property’s value, and commercial banks would supply a further 70 percent. An additional […]
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New US envoy to Egypt lauds Cairo’s role in fighting for Middle East peace
America’s new ambassador to Egypt has praised the decades of “courage” shown by Cairo in fighting for peace and stability in the Middle East. And Iraq-born Herro Mustafa Garg pledged the US’ ongoing support for Egyptian efforts to bring about an end to regional conflict and broker a two-state solution for the people of Palestine and Israel. In a video posted on the US Embassy’s social media page, the envoy highlighted “the courage and conviction shown by Egypt’s leaders 45 years ago (signing the Egypt-Israel peace treaty) in giving priority to peace over conflict, elevating common understanding over violence, and investing in prosperity over strife.”
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Financier Entrusted With Middle East Billions Attempts Comeback
Home to sovereign wealth funds that control over $4 trillion in assets, the Middle East is central to Misra’s plans. Five of the ten most active state-backed entities in 2023 were from the Gulf, even as global peers pulled back — the PIF alone spent $31.6 billion.
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U.S. hits Iraq militia sites and anti-ship missiles in Yemen
The U.S. military struck three facilities in Iraq and two anti-ship missiles in Yemen operated by Iranian-backed militias that have continued to instigate attacks on U.S. personnel and ships in the region as the U.S. continues to try to keep the Israel-Hamas war from spilling over into a wider conflict. Both the strikes in Iraq and Yemen targeted sites that the U.S. has said are involved in the attacks against U.S. forces in Iraq and Syria and were threatening U.S. military and commercial vessels in the Red Sea
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Saudi model Amira Al-Zuhair walks for Maison Alaia in Paris
Saudi model Amira Al-Zuhair this week graced the Maison Alaia runway, showcasing the brand’s Summer/Fall 2024 collection at Paris Fashion Week.
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Analysis: Were the Saudis Right About the Houthis After All?
Informed Americans finally seem to understand that the macabre slogan of Yemen’s Houthi militia group—“God is the greatest, death to America, death to Israel, a curse upon the Jews, victory to Islam”—is more than empty rhetoric. The Houthis are a potent Iranian proxy group, and their slogan, adapted from Iranian revolutionary propaganda, is being made manifest in action. They’ve attacked Red Sea shipping lanes more than 30 times since October 17, under the implausible pretext of aiding Hamas and protesting Israeli military actions in Gaza.
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One of World’s Richest Doctors Sees Fortune Surge to $12 Billion
A Saudi doctor saw his fortune close in on $12 billion on Thursday as shares of his healthcare firm rebounded, returning him to the ranks of the Middle East’s wealthiest private individuals. Shares in Sulaiman Al Habib’s eponymous company have surged 30% since hitting a one-year low in October. That’s made Al Habib — who founded the firm and holds a 40% stake — the third-richest person in the Middle East who’s not a member of a royal family, according to the Bloomberg Billionaires Index.
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Saudi Arabia to get first alcohol shop in more than 70 years
Saudi Arabia has said it will open a shop in Riyadh selling alcohol to a select band of non-Muslim expats, the first to open in more than 70 years. The clientele will be limited to diplomatic staff, who have for years imported booze in sealed official packages known as diplomatic pouches. Saudi officials said the shop would counter "the illicit trade of alcohol". Prohibition has been law since 1952, after one of King Abdulaziz's sons drunkenly shot dead a British diplomat.
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Ravers flock to dance floor in Saudi’s gateway to Mecca
On a stage inside the historical centre of Jeddah, the main gateway for Muslim pilgrims heading to Mecca, rapper Ty Dolla $ign asked his screaming Saudi fans a few questions. "Where the hot girls at?" the dreadlocked 41-year-old American (real name: Tyrone William Griffin Jr) bellowed into the microphone during his set at the Balad Beast music festival. "How many of you trying to get lit after the show tonight? How many of you trying to get faded?"
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Saudi trailblazer Yara Alhogbani handed Mubadala Abu Dhabi Open qualifier wildcard
The second edition of the Mubadala Abu Dhabi Open will take place February 3-11 at Zayed Sports City's International Tennis Centre, and 10 of the world's top 20 have been confirmed for the WTA 500 tournament, including Kazakh world No 3 Elena Rybakina, Tunisia's sixth-ranked Ons Jabeur and Geece's world No 8 Maria Sakkari. Further star power was added to the field in the form of Japan's four-time Grand Slam champion Naomi Osaka and former US Open winner Emma Raducanu of Great Britain after both players received wildcards.
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Saudi Arabia prepares to open first alcohol store for diplomats
Saudi Arabia is preparing to open its first alcohol store in the capital Riyadh which will serve exclusively non-Muslim diplomats, a source familiar with the plans and a document showed on Wednesday.Customers will have to register via a mobile app, get a clearance code from the foreign ministry, and respect monthly quotas with their purchases, the document said.The move is a milestone in the kingdom's efforts, led by Saudi Crown Prince Mohammed bin Salman, to open the ultra-conservative Muslim country for tourism and business as drinking alcohol is forbidden in Islam.
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