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Jadwa Chartbook: Saudi Economic Data Show ‘Signs of Cooling’ in Economy
- December 3,2014
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- SUSTG Team
Jadwa Investment’s latest Chartbook monthly economic report said the Saudi economy showed signs of cooling with the non-oil Purchasing Managers Index (PMI) dipping lower following a 39-month peak in the previous month. Data on consumer spending also showed a seasonal decline, according to the Jadwa Investment report. Additionally, “bearish oil markets continued to affect sentiment […]
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Smartphone Generation: The Overnight Mobile Internet Revolution in the MENA Region
- December 1,2014
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- Khaldoon Tabaza
What is the single indicator related to the online market opportunity in the United Arab Emirates and Saudi Arabia that beats all other developed and developing countries? Just take a look at people in coffee shops, malls, or even at family gatherings, you’ll notice immediately that everyone has a smartphone. To be specific, 74% of […]
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With Hagel Out, Obama’s Next Appointment for Defense Secretary Will Have an Impact on U.S.-Saudi Relations
- November 26,2014
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- Lucien Zeigler
Just days before President Obama announced in the White House Rose Garden that his Secretary of Defense Chuck Hagel would resign, Hagel met with Saudi Arabia’s Prince Miteb bin Abdullah – a rising star in Saudi Arabia at the Pentagon. With Secretary of Defense Chuck Hagel set to resign, all eyes in the Middle East and […]
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Al-Ahsa Attack Linked to Islamic State, Up to 77 Now Held
- November 25,2014
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- SUSTG Team
Saudi authorities said on Monday the gunmen who attacked Shi’a citizens in the Dalwah village of the Al-Ahsa region in the Eastern Province are linked to the Islamic State group, including several jailed previously over suspected extremist ties. According to comments made by Saudi Arabia’s Gen. Mansour al-Turki, the head of the network operating in […]
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After Meetings with Obama and the Pentagon, Saudi Prince Miteb Bin Abdullah Touts US-Saudi Military Cooperation
- November 24,2014
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- SUSTG Team
Saudi Arabia’s visiting National Guard Minister, Prince Miteb bin Abdullah, visited Washington, D.C. last week in a push to “strengthen bilateral cooperation in various sectors, especially between the Defense Department and the Saudi National Guard,” according to reports in the Arab News and the Eurasia Review. Additionally, Miteb said that Saudi Arabia will receive Black Hawk […]
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Could a Trans-Asian Railway Further Boost Growing Saudi-China Trade?
- November 21,2014
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- SUSTG Team
China has reportedly “set a comprehensive economic strategy for linking the country to major economic countries in Asia, including Saudi Arabia, through a railway,” a report in Zawya finds, citing a local paper. With Saudi-Chinese trade exchanges reaching $74 billion last year and estimated to soar up to $100 billion in the next five years, the […]
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Legalized Drifting: 4-Round Saudi Car Drift to Begin Al-Ahsa
- November 20,2014
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- SUSTG Team
At long last, one Saudi will be able to claim to be the best drifter in the Kingdom. The Saudi Star Drift Championship kicks off this month for the first time, and will be supervised by the Saudi Arabian Motor Federation. The series will take an otherwise illegal but popular hobby in Saudi Arabia and make it […]
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#FocusKSA: Saudi Student Turned Entrepreneur Walid Abdulwahab On His Experiences Running a Successful Business in the U.S.
- November 18,2014
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- SUSTG Team
In the latest FocusKSA discussion, Saudi-US Trade Group President, Richard Wilson, spoke with Walid Abdulwahab, a recent graduate of the University of Southern California and Founder and CEO of Desert Farms, which produces, markets and sells camel milk and camel milk products to a growing list of U.S. retail outlets. Walid discusses his background, academic experience […]
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PHOTOS: Wild Weather Strikes Across Saudi Arabia as Rain, Floods Cause Damage and School Closings
- November 17,2014
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- SUSTG Team
The rain season began in several provinces of Saudi Arabia this past weekend with rain and floods reported in Mecca, Jeddah, and Hail provinces. Photos provided by the SPA show hail and rain storms caused flooding and damage in Taif and Mecca while Jeddah experienced thunderstorms. Director of Civil Defense in Taif Saleh Mansi Al-Harthi has […]
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SUSRIS: Saudi Oil Production “Crucial” to EIA 2015 Forecast
- November 14,2014
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- SUSTG Team
“Changes in the forecast of Saudi Arabian oil production are crucial to the revised outlook and a major source of uncertainty in the year ahead. Saudi Arabia has indicated interest in preserving market share rather than unilaterally carrying the burden of cutting production to balance the global oil market. In addition to numerous statements by […]
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MUST-READS
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Saudi Arabia ‘not building The Line’ but AI is, says NEOM executive
Saudi Arabia will not directly build the futuristic city The Line at NEOM, but instead use “a lot of artificial intelligence to design through a digital twin backbone,” NEOM’s executive director Giles Pendleton said in an internal interview. “We’ve got to build quite a lot of real estate in a short space of time. Well, we’re not actually building THE LINE. We’re assembling it from a series of modular pieces that are pre-engineered and predetermined as to what they do,” Pendleton said when asked about building a new city of nine million inhabitants in a short period of time.
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Turkish Airstrikes Have Slowed the Fight Against ISIS, Officials Say
Turkish airstrikes and the threat of another incursion are distracting Kurdish forces from fighting ISIS, the commander of the Syrian Democratic Forces said Tuesday. “Our joint work alongside international coalition forces here have been…temporarily paused against ISIS because of the recent airstrikes,” Gen. Mazloum Abdi said through a translator during a virtual press conference. A Pentagon spokesman said that U.S. forces are doing fewer anti-ISIS patrols with the Kurdish militia group.
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Yemen’s Government Calls for Support Against Houthis
On Sunday, November 27, Yemeni Foreign Affairs Minister Ahmed Awad bin Mubarak publicly announced the Yemeni government’s intent to categorize the Houthis as a terrorist organization. The Yemeni Presidential Leadership Council further asserted the government’s will to instate strong punitive measures against Houthi militias. This diplomatic action against the Houthis comes in response to last week’s Houthi attack in southern provinces of Yemen. The international and regional communities have explored a variety of responses to the Houthis attacks, and many Middle Eastern Countries, such as Saudi Arabia and Jordan, have directly spoken out against the operations.
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Gulf Countries Should Maintain Reform Momentum, Despite Oil Boom
Throughout its history, the GCC region has experienced distinct periods of rising oil revenues. During those periods, countries deepened their dependency on oil and gas, increased wages and hirings in the public sector, expanded social safety nets, and ramped up capital expenditure. During 2002-08 and 2010-14 for example, the public sector wage bill increased by 51 and 40 percent respectively.
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Saudi Arabia in talks to open military airspace
"There are multiple projects ongoing to redesign the air capacity and air corridors. We are trying to resolve restrictions as well as applying the latest technologies and radar information systems to shorten the trip time, open new corridors, and increase capacity. We will announce the outcome once it's completed," GACA Vice-President (Strategy and Business Intelligence) Mohammed Alkhuraisi said.
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Dubai-based Careem completes 1 billion rides
Dubai-headquartered Careem has successfully completed over one billion rides, with the platform’s one billionth ride taking place in Qatar during the FIFA World Cup. The company, which started as a ride service provider in 2012, is now the region’s leading multi-service platform.
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Saudi Arabia first Gulf state to chair UNWTO Executive Council
Saudi Arabia has been elected Chair of the Executive Council of the United Nations World Tourism Organization (UNWTO) at the UNWTO’s 117th Executive Council meeting in Marrakesh, Morocco. The Kingdom’s minister of tourism Ahmed Al-Khateeb said: “Saudi Arabia is honoured to have been elected Chair of the UNWTO Executive Council.
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Saudi Arabia first Gulf state to chair UNWTO Executive Council
Saudi Arabia has been elected Chair of the Executive Council of the United Nations World Tourism Organization (UNWTO) at the UNWTO’s 117th Executive Council meeting in Marrakesh, Morocco. The Kingdom’s minister of tourism Ahmed Al-Khateeb said: “Saudi Arabia is honoured to have been elected Chair of the UNWTO Executive Council.
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Saudi Arabia Plans New Airport in Riyadh to Fulfill Tourism Ambitions
The King Salman International Airport will cover an area of about 57 square kilometers (22.008 square miles) with six parallel runways and will be owned by the Public Investment Fund, the kingdom’s sovereign wealth fund, according to a statement. The facility, which will include the existing terminals named after King Khalid, will aim to accommodate up to 120 million travelers by 2030 and 185 million by 2050.
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Saudi Power Firm Inks $7B Green Hydrogen Thailand Deal
Saudi Arabian renewables developer ACWA Power signed a $7 billion agreement with two Thai state-owned companies to develop green hydrogen in Thailand. ACWA Power is a leading Saudi developer, operator, and investor of power generation worldwide. It signed a Memorandum of Understanding (MoU) with these state-owned firms in Thailand:
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