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Lack of Clarity from Capital Market Authority On Upcoming Stock Market Opening Leaves ‘Would-Be Investors Guessing’, Report Says
- April 15,2015
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- SUSTG Team
A report today in Bloomberg finds that Saudi Arabia’s Capital Market Authority has not provided clarity about how new rules permitting foreign investment in the Tadawul will square with existing rules preventing foreign access. The report, written by Dana El Baltaji, Deema Almashabi, and Sarmad Khan for Bloomberg, says that investors “are no closer to understanding how […]
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King Salman Relieves Health Minister, Appoints Mohammed bin Abdulmalik bin Abdullah Al Al-Sheikh to the Post
- April 14,2015
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- SUSTG Team
Saudi Arabia’s King Salman has relieved Health Minister Ahmed al-Khatib of his post, according to the SPA, in the second removal of a minister this month in the social services sector. Saudi Arabia’s new Minister of Health, Mohammed bin Abdulmalik bin Abdullah Al Al-Sheikh, will serve on an acting basis, the SPA said. Minister Al-Sheikh replaces Ahmed bin Aqeel […]
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U.S. Treasury, Saudi Arabia Take Joint Action Against Terror Finance
- April 9,2015
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- SUSTG Team
U.S. and Saudi authorities have taken joint action against a group that financed terrorist activities, the U.S. Treasury said in a press release today in a move that a Treasury official said “reflects the strength of U.S. and Saudi cooperation on countering the financing of terrorism.” The U.S. Treasury and Saudi Arabia took steps to “disrupt the […]
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Jadwa’s Quarterly Oil Market Update Finds Glut in Oil Markets Widening, Brent to Average $61 Per Barrel in 2015
- April 8,2015
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- SUSTG Team
Jadwa Investment’s just released Quarterly Oil Market Update (Q1 2015) found a widening glut in the supply of oil globally, putting downward pressure on the price on international indices. The Riyadh-based bank said that it now estimates an average price of oil at $61 per barrel in 2015, down from $79. “The widening of global oil […]
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Saudi Arabia’s Brig. Gen. Ahmad Asseri Puts Daily Face on Saudi Strikes into Yemen
- April 6,2015
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- SUSTG Team
As Saudi Arabia’s airstrikes into Yemen extend into a third week, the government’s daily face of the campaign is Brig. Gen. Ahmad Asseri, who gives a daily press briefing featuring photos, videos and other images highlighting the Saudi strikes into Yemen. These photos and videos have been released and disseminated to Saudi media and are circulated […]
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Jadwa April 2015 Chartbook: Royal Decrees Boost February Economic Data
- April 2,2015
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- SUSTG Team
In Jadwa’s April 2015 Saudi Chartbook, economic data reflected strong growth in February of this year following the impact of the late January royal decrees. “Cash withdrawals from ATMs recorded a significant monthly increase in response to the two month’s salary bonus, Jadwa said. In addition, bank lending to the private sector recorded healthy growth in February. However, government deposits […]
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Starting (or Investing In) an Online Business in MENA: Lessons Learned for Founders and Investors
- March 31,2015
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- Khaldoon Tabaza
In the rush to create the next big success in the online industry in MENA, it is useful to pause and ponder key lessons our nascent community can benefit from based on the successes (and failures) of founders and investors in developed markets, such as the US, and other emerging markets more advanced than ours, […]
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#FocusKSA: 3 Experts Discuss Saudi Intervention in Yemen
- March 30,2015
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- SUSTG Team
Saudi Arabia’s airstrikes against Houthi rebel positions in Yemen as part of Operation “Determination Storm” or “Decisive Storm” is the subject of the latest SUSTG and SUSRIS FocusKSA series of online video discussions. SUSRIS’ Patrick Ryan interviewed three experts for their analysis on the conflict: Dr. Theodore Karasik, Gulf-based regional specialist Prof. David Des Roches, […]
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At Sharm El-Sheikh, Arab Leaders Agree on Joint Military Force to Address Shared Regional Challenges
- March 30,2015
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- SUSTG Team
Arab leaders have agreed in principle to “form a joint military force to address growing Arab challenges and threats” in a resolution following a 2-day summit of representative countries in Egypt, a move that bolsters cooperative efforts to stem the growth of extremism and instability in the Middle East. Leaders from Saudi Arabia, Egypt, Qatar, […]
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Fears of an ‘All Out War’ Grow in Neighboring Yemen as Rival Factions Look to Iran and Saudi Arabia for Help
- March 24,2015
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- SUSTG Team
Tensions are escalating in Yemen as Iranian-backed Houthi militias and forces loyal to ousted President Abd-Rabbu Mansour Hadi, backed by Saudi Arabia, are “squaring off for battle after months of skirmishes,” Reuters reports. “With President Abd-Rabbu Mansour Hadi seeking a comeback from the port city of Aden while the Shi’ite Houthi movement controls the capital Sanaa, […]
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Donald Trump, Elon Musk And LIV Golf Chairman Appearance Sparks Golf Merger Rumors
The appearance of Donald Trump, Elon Musk, and LIV Golf Chairman Yasir Al-Rumayyan at UFC 309 in New York City has sparked renewed speculation about a potential merger in the world of golf. Taking place at Madison Square Garden, the event fueled rumors about possible collaborations between traditional golf tours and the Saudi-backed LIV Golf organization. A merger of this magnitude involves intricate logistics, including travel schedules and financial reconciliations for LIV Golf defectors. There have been debates surrounding penalties and conditions for those who had previously distanced themselves from the PGA Tour.
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Saudi FM arrives in Rio de Janeiro ahead of G20 Summit
Saudi Foreign Minister Prince Faisal bin Farhan arrived in Rio de Janeiro on Sunday ahead of this year’s G20 Summit, Saudi Press Agency reported. Prince Faisal is leading the Kingdom’s delegation to the summit on behalf of Crown Prince Mohammed bin Salman. The summit is due to take place on Monday and Tuesday.
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Explained: Why Saudi Arabia Executed Over 100 Foreigners This Year
According to AFP, foreigners executed this year included 21 from Pakistan, 20 from Yemen, 14 from Syria, 10 from Nigeria, nine from Egypt, eight from Jordan and seven from Ethiopia. There were also three each from Sudan, India and Afghanistan, and one each from Sri Lanka, Eritrea and the Philippines.
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Saudi Arabia keen as G20 member to support joint multilateral action: Al-Jadaan
"The Kingdom seeks to leverage the experiences of the G20 countries in the various fields discussed by the group, as the largest economy in the world. This is in addition to efforts made by the Kingdom's teams participating in the G20 to transfer the experience of rapid economic transformation in the Kingdom to brotherly and friendly countries in the group, which aims to achieve sustainable development and diversification in their economy, through the knowledge and expertise accumulated as a result of the strategies of Saudi Vision 2030 and National Transformation Programs,” he added, in a statement cited by the Saudi Press Agency, during the G20 Summit held under the Brazilian presidency.
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Royal Saudi Air Force commander meets US Air Force official
Lt. Gen. Turki bin Bandar bin Abdulaziz, the commander of the Royal Saudi Air Force, met the Deputy Undersecretary of the US Air Force for International Affairs Kelli Seybolt, the Defense Ministry wrote on X on Saturday.
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Saudi Arabia to Host 6th UN World Data Forum in 2026
Saudi Arabia has secured the hosting rights for the 6th UN World Data Forum, to be held in Riyadh in 2026. The announcement was made at the conclusion of the 5th UN World Data Forum, which took place in Medellín, Colombia, from November 12 to 15, 2024. The forum gathered representatives from 193 UN member states. Saudi Arabia’s selection was endorsed by the High-Level Group for Partnership, Coordination, and Capacity-Building in Statistics (HLG-PCCB), in recognition of the Kingdom’s robust statistical capabilities and commitment to data-driven development.
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Macron hosts Saudi business leaders to strengthen investments
French President Emmanuel Macron held an expanded discussion session on Saturday with a group of Saudi and French business leaders to develop and expand mutual investments between the two countries. The meeting, held at the Élysée Palace in Paris, was attended by the visiting Saudi Minister of Investment, Eng. Khalid Al-Falih. The session included the participation of 23 CEOs representing Saudi companies, with discussions focusing on strengthening Saudi-French collaboration in key sectors such as technology, energy transition, and tourism.
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Tunisian president hosts Saudi investment minister for talks
Tunisian President Kais Saied received Saudi Minister of Investment Khalid Al-Falih and his delegation on Saturday at the Presidential Palace of Carthage. The minister passed on greetings from King Salman and Crown Prince Mohammed bin Salman to Saied, along with their well wishes for Tunisia’s ongoing progress, stability and growth, the Saudi Press Agency reported.
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Saudi security forces arrest 20,124 illegals in a week
Those who were arrested included 11,607 violators of the Residency Law, 5,285 violators of the Border Security Law, and 3,232 violators of the Labor Law, the Ministry of Interior announced on Saturday. The total number of people who were arrested while trying to cross the border into the Kingdom accounted for 1,401, of whom 39 percent were Yemeni nationals, 60 percent Ethiopian nationals, and one percent belonged to other nationalities while 98 people were arrested while attempting to leave the Kingdom illegally.
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Trump’s oil and gas friendly energy secretary pick seen as ‘fantastic’ in Middle East
US President-elect Donald Trump's selection of oil industry veteran Chris Wright as energy secretary will likely be welcome in the Middle East where hydrocarbons dominate its economies, with one Saudi government official describing the nomination to S&P Global Commodity Insights on condition of anonymity as "fantastic." Wright, whose nomination to head the Department of Energy was widely reported Nov. 16 in the midst of the COP29 UN climate change summit, is CEO of oilfield services firm Liberty Energy, which has extensive operations in hydraulic fracturing. He is a climate change skeptic who has called net-zero plans "sinister."
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