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Recent stories from sustg
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Saudi 2018 Budget will be ‘Expansionary’ after Two Years of Tight Spending
- December 18,2017
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- SUSTG Team
Saudi Arabia’s budget will be announced tomorrow and will include a “focus on expansion, development and investment” according to comments made on Al-Arabiya TV by a Saudi finance ministry official, and reported in Reuters. “If there was to be a title for the 2018 budget, it would be the budget of expansion and development and […]
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Ambassador Haley Gives Dramatic Presentation of Alleged Iran-Made Weaponry Recovered from Regional Battlefields
- December 15,2017
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- SUSTG Team
US envoy to the United Nations Nikki Haley made a presentation at Bolling Air Force base in Washington, D.C. to provide evidence that Iran had supplied short-range ballistic missiles to Houthi rebels in Yemen which were then fired at Saudi Arabia. Department of Defense (DOD) officials accompanied Haley for the presentation, which was made against a dramatic backdrop of broken […]
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Secretary Tillerson Urges More ‘Measured’ Approach for Saudi Arabia in Yemen
- December 8,2017
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- SUSTG Team
U.S. Secretary of State Rex Tillerson is urging Saudi Arabia to be more “measured” in its military intervention in war-ravaged Yemen, a day after President Trump called for the end of the Saudi-led blockade in order to allow for delivery of humanitarian aid and commercial shipments. Tillerson also reiterated Trump’s calls for a “complete end” […]
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The U.S. Reported to be Assessing Support of Saudi Arabia’s Nuclear Energy Plans
- November 30,2017
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- SUSTG Team
The Trump administration is reportedly holding talks on providing nuclear technology to Saudi Arabia in a move that would be a significant shift in U.S. policy, ProPublica reports. The report notes that, “The Trump administration hasn’t stated a position on whether it will let the Saudis have enrichment and reprocessing technology. An NSC spokesman declined […]
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NYT Columnist Tom Friedman Praises Saudi Arabia’s ‘Arab Spring, At Last’; Twitter Reacts
- November 27,2017
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- SUSTG Team
New York Times Columnist and bestselling author Tom Friedman met with Crown Prince Mohammed bin Salman in Saudi Arabia for a second time in three years to speak with the powerful and young leader about the ongoing Vision 2030 social and economic reform plans as well as ongoing regional and security issues facing the Kingdom. […]
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Saudi Arabia’s PIF Officially Takes Over Management of Riyadh’s King Abdullah Financial District
- November 22,2017
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- SUSTG Team
Saudi Arabia’s sovereign wealth fund finalized the take over of the management of Riyadh’s US$10 billion unfinished King Abdullah Financial District (KAFD), a large financial hub on the outskirts of the city, as the government attempts to revive the project. Bloomberg reports the project also has a new leader. KAFD’s final development will be run by real […]
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In WSJ Op-Ed, Al-Qassabi Says Kingdom Will Not Avoid Short-Term Difficult Decisions to Eradicate Corruption, Actualize Vision 2030
- November 14,2017
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- SUSTG Team
In a op-ed published in the Wall Street Journal, Saudi Arabia’s Minister of Commerce and Investment Dr. Majed Al-Qassabi addressed critics of the Kingdom’s anti-corruption efforts and says the actions taken last week are evidence that Saudi Arabia is facing a “watershed moment” to eradicate the scourge of corrupt practices. “Saudi Arabia is a rich […]
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Secretary Tillerson, in Riyadh, Pledges Support for Saudi-Iraq Relationship to Counter Iran
- October 23,2017
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- SUSTG Team
U.S. Secretary of State Rex Tillerson visited Riyadh over the weekend to express U.S. support for a warming of relations between Saudi Arabia and Iraq as the two nations inaugurate the first meeting of the Saudi-Iraq Coordination Council, a new organization that will facilitate bilateral ties. The inaugural Coordination Council meeting marks a warming of relations between Riyadh and Baghdad. […]
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Saudi Aramco Denies Financial Times Report on Shelving Long-Awaited IPO
- October 16,2017
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- SUSTG Team
Saudi Aramco has denied a report in the London-based Financial Times that the state-controlled company will shelve its plans to list part of the company on international indices in favor of private placements. The Financial Times reports that talks about “a private sale to foreign governments including China and other investors have gathered pace in recent […]
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King Salman Consolidates Development Funds and Promotes New Transportation Minister
- October 5,2017
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- SUSTG Team
Saudi Arabia’s King Salman has created a new organizational body to centralize and consolidate control and management of its economic development funds, called the National Development Fund (NDF), under Crown Prince Mohammed bin Salman. The NDF will “link the Saudi Fund for Development, the Saudi Industrial Development Fund, the Agricultural Development Fund, the Social Development Bank, the Human […]
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MUST-READS
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Mortgage FinanceSaudi central bank lifts home buyers’ bank loan-to-value ratio to 85 pct
Saudi Arabia's central bank said on Thursday it would allow banks to supply a bigger share of funding for purchases of homes, as part of authorities' drive to stimulate the real estate market and ease a shortage of affordable housing.
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PIFApple joins SoftBank’s Vision Fund with $1 billion investment
Today, Apple confirmed plans to invest in SoftBank’s massive $100 billion Vision Fund, the international tech fund the telecom giant announced last October.
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Urban Heritage15 sites approved for Saudi Urban Heritage Record
Prince Sultan bin Salman, president of the Saudi Commission for Tourism and National Heritage (SCTH), has approved the registration of the first group of 15 urban heritage sites in the National Urban Heritage Record.
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Istanbul ShootingSaudis, Jordanians, Lebanese and Indians among victims of Istanbul attack
Nearly half of the 39 people killed in the New Year shooting rampage in Istanbul were from Arab countries, according to officials and local media.
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Bank LiquiditySaudi bank deposits rise in November as c.bank liquidates foreign assets
Saudi Arabian commercial bank deposits rose to their highest level this year in November, a sign that a liquidity crunch due to low oil prices is easing as the government liquidates foreign assets to pay its bills, official data showed on Wednesday.
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Trump and MuslimsTrump On Proposed Muslim Ban: ‘You Know My Plans’
U.S. President-elect Donald Trump said on Wednesday that attacks this week in Berlin and Ankara proved he was correct to propose curbing Muslim immigration to the United States.
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Filipino BankFilipino workers in Saudi to have their own bank in Riyadh
State-owned Land Bank of the Philippines is set to open the bank by September and a representative office in Saudi Arabia to cater to the banking needs of around 800,000 Filipino workers who are based in the gulf country, the finance secretary said.
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Urban ViolenceHere’s a Better Way to Understand Urban Violence in the Middle East
A goal of the book is to debunk the myth that Middle Eastern metropolises are inherently violent places populated by inherently violent people.
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Bank DealsDeal-making to drive 2017 Middle Eastern banking fee fest
A Middle Eastern investment banking fee bonanza should extend into 2017, spurred by a combination of bond and share sales and mergers and acquisitions as the region adjusts to lower oil prices, bankers say.
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AleppoBana al-Abed, the 7-year-old Syrian Twitter star, escapes from Aleppo
Bana al-Abed, the young girl who documented her life in war-torn Aleppo on Twitter, was evacuated from the city early Monday.
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