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Recent stories from sustg
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Al-Assaf, Al-Rabiah Headline Important Private Sector Initiative in Riyadh
- January 14,2013
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- Lucien Zeigler
The high-level meeting, an ambitious private sector initiative, addressed joint Arab action agendas, with 21 proposals of developmental projects discussed. Saudi Finance Minister Ibrahim Al-Assaf and Commerce Minister Tawfig Al Rabiah headlined this important event in Riyadh, which was widely discussed on Social Media sites and in the general media.
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Breakthrough in Saudi Arabia: 30 women named to parliament
- January 11,2013
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- SUSTG Team
King Abdullah Bin Abdul Aziz of Saudi Arabia issued Friday a historic decree allowing women to be members of the kingdom’s previously all-male Shura Council for the first time. The decree amended two article in the council’s statute introducing a 20 percent quota for women in the country’s 150-member Shura Council, and the king appointed […]
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Nitaqat: Towards a Saudi “New Deal?”
- December 14,2012
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- Nathan Field
Editor’s Note: ‘Saudization’ is a topic that has garnered a great deal of front-page ink in Saudi Arabia of late. The Nitaqat (“Ranges”) Program introduced in 2011 has staunch advocates and detractors and the ongoing argument between members of the private sector and the Ministry of Labor over recent fee hikes for foreign employees has been […]
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Are Members of Royalty “Foreign Officials” Under the FCPA?
- December 11,2012
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- SUSTG Team
For U.S. companies conducting business abroad, the Foreign Corrupt Practices Act (FCPA) is a constant companion. The FCPA, “applies to any person who has a certain degree of connection to the United States and engages in foreign corrupt practices. The Act also applies to any act by U.S. businesses, foreign corporations trading securities in the […]
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Saudi Is World’s Largest Market For Islamic Assets
- December 10,2012
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- SUSTG Team
Saudi Arabia is emerging as the largest market for Islamic assets, according to a new report by Ernst & Young. According to the report, Saudi Arabia, with an estimated $207 billion of Islamic assets in 2011, was ranked first in the world. Malaysia was ranked second with total assets of $106 billion and UAE ranked […]
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Riyadh at Night
- December 10,2012
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- SUSTG Team
The population of Riyadh, the capital city of Saudi Arabia, has risen dramatically in the last half century—from 150,000 in 1960 to 5.4 million in 2012. The city appears as a brightly colored patchwork in this nighttime astronaut photograph. The brightest lights, apart from those on the old Riyadh Airbase, follow the commercial districts along […]
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Jadwa Investment – December 2012 Saudi Chartbook
- December 3,2012
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- SUSTG Team
Jadwa Investment’s Saudi Chartbook for the month of December 2012 assesses a number of key aspects of the Saudi economy including the real economy, bank lending, banking indicators, inflation, trade, oil, exchange rates, the TASI (Saudi Stock Market), sectoral performance, and more. A summary of the report is provided for your consideration below, and the […]
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AME Info’s series on doing business in Saudi Arabia: a guide to the guide
- November 27,2012
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- SUSTG Team
AMEinfo, based in Dubai’s Media City, is a well-known provider of business news and information covering the Gulf and larger Middle East. Founded in 1993 it was acquired by London-based Emap Communications in July 2006. Emap also owns MEED. The AME info site now claims over two million readers monthly.
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For Saudi Football, a Moment in the International Spotlight
- November 15,2012
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- Lucien Zeigler
Saudi Arabia’s national football team has had its ups and downs in the last decade, thus far struggling to make a name for itself as a contender in a world full of elite national teams. Nevertheless, the ups and downs of the Saudi program are closely followed by Saudis all over the world and has, […]
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Jadwa Investment – November 2012 Saudi Chartbook
- November 13,2012
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- SUSTG Team
Jadwa Investment’s Saudi Chartbook for the month of November 2012 assesses a number of key aspects of the Saudi economy including the real economy, bank lending, banking indicators, inflation, trade, oil, exchange rates, the TASI (Saudi Stock Market), sectoral performance, and third quarter earnings. To read the entire report in full as a PDF, click […]
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MUST-READS
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Why Herve Renard is the perfect appointment for Saudi Arabia after Mancini exit
In a stirring announcement video posted on social media on Saturday night, Herve Renard was confirmed as the new head coach of the Saudi Arabia national team. His return to the Green Falcons, 19 months after leaving to take charge of the French team at the 2023 FIFA Women’s World Cup on home soil, will be music to the ears of Saudi football fans.
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Saudi Arabia targets local manufacturing of wind energy towers to enhance renewable energy sector
Following two strategic agreements signed with Al-Yamamah Steel Industries Co. and Arabian International Co. for Steel Structures, Saudi Arabia seeks to strengthen its position in the wind energy sector by fostering local manufacturing capabilities and facilitating essential knowledge transfer. These agreements were part of 107 deals and memorandums of understanding, collectively valued at $27.69 billion, formalized at the Energy Localization Forum in Riyadh under the auspices of the Ministry of Energy and the LCGPA.
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Saudi Arabia Expects to Announce $28 Billion of Deals at FII Summit: Video
Deals worth more than $28 billion are likely to be announced by executives from around the world who’re attending the Future Investment Initiative in Riyadh, Richard Attias, the chief executive officer of the FII Institute tells Joumanna Bercetche
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Saudi FM receives Somali counterpart in Riyadh
Saudi Foreign Minister Prince Faisal bin Farhan received his Somali counterpart Ahmed Moalim Fiqi in Riyadh on Sunday. During the meeting, the ministers reviewed Saudi-Somali relations and discussed ways to enhance them in various fields. Regional and international developments and topics of common interest were also discussed.
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Saudi Arabia pushes for Africa debt relief as private investments set to reach $25B
Public debt in Africa reached $1.8 trillion in 2022, with such high levels constraining the ability of countries to cope with unexpected crises or invest in development. Jadaan said Saudi Arabia's plans to help Africa with its debt crisis — first proposed during Riyadh's hosting of the G20 in 2020 — have "directly impacted" countries such as Chad, Zambia, Ghana and Ethiopia. "Saudi Arabia believes in the importance of these efforts, and we are committed to continue exerting them," he added. During the 2020 G20 summit, Saudi Arabia called for the suspension of African debt payments. At the inaugural Saudi Arabia-Africa summit in November 2023, Riyadh continued to press for resolving debt issues in Africa.
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Barclays Considers Re-Entering Saudi Arabia a Decade After Exit
“We’re looking at how best to re-enter the country,” Venkatakrishnan said. “We will consider corporate banking work, but investment banking and trading will be the focus.” The move to re-enter Saudi Arabia would come a decade after Barclays pulled out of the country under then CEO Antony Jenkins. Venkatakrishnan’s comments come as banks around the world beef up their operations in the oil-rich kingdom, which is in the midst of a trillion-dollar economic transformation plan.
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Hezbollah elects Naim Qassem as head to succeed Nasrallah
Lebanese armed group Hezbollah said on Tuesday it had elected deputy head Naim Qassem to succeed Secretary General Hassan Nasrallah, who was killed in an Israeli air attack on Beirut's southern suburb over a month ago. The group said in a written statement that its Shura Council had elected Qassem, 71, in accordance with its established mechanism for choosing a secretary general. He was appointed as Hezbollah's deputy chief in 1991 by the armed group's then-secretary general Abbas al-Musawi, who was killed by an Israeli helicopter attack the following year.
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UN COP16 nature talks gridlocked as conservation funding trickles in
Countries were at an impasse over how to fund conservation and other key decisions as the U.N. COP16 biodiversity summit entered its second week on Monday, with nations pledging millions of dollars rather than the billions needed. Seven countries and one provincial government pledged an additional $163 million to the Global Biodiversity Framework Fund on Monday, dubbed the summit's "finance day." The fund was established to help realize the goals laid out in the landmark 2022 Kunming-Montreal Global Biodiversity Framework, aimed at ending nature loss by 2030. COP16 in the Colombian mountain town of Cali is tasked with implementing that agreement.
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Saudi Arabia’s Vision 2030 is transforming women’s lives, says Princess Reema
Speaking at the HERizon Summit, held alongside the eighth Future Investment Initiative, she emphasized that the right policies are crucial for accelerating women’s progress in business and entrepreneurship. The event, themed “Invest in Women,” aims to bridge the gender gap and empower women in the global workforce. A recent report by the World Bank confirmed Saudi Arabia’s progress in gender parity, noting a substantial increase in female labor participation from 22% in 2016 to 34% in 2023.
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Ryan Serhant on Dubai’s Real Estate Boom, Netflix Fame, and how to become a “real estate machine”
In the eyes of the celebrity property mogul, Dubai has become an international real estate hotspot that now ranks among the top global investment destinations. “Dubai today is a top 10 global real estate investment play,” Ryan Serhant tells Arabian Business. “We’re now seeing buyers in New York, Los Angeles, Miami, Hong Kong, Paris and London who are thinking of Dubai first.” This international attraction marks a significant change from previous decades, positioning Dubai alongside iconic cities as a premier choice for investment he believes.
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