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Recent stories from sustg

  • Saudi Arabia’s ‘golden age of learning’ under King Abdullah
     

    The major barrier in the progress of science in Muslim countries is the absence of a culture based on scientific research. There are no established research strategies, poor institutional support and insufficient integration among science-rich communities. Appointments and promotions in faculties must be based on merit. Muslim countries must create a merit-based structure that fosters […]

     
  • Saudi Arabia’s $220bn spending spree
     

    Even at growth of 3.4 percent, Saudi Arabia’s economy will be the envy of most other large countries. That figure is above the average expected GDP (3 percent) of the G20 nations – of which the kingdom is one – according to Moody’s. And, waiting in the wings, is Saudi Arabia’s vast foreign reserves, which […]

     
  • Saudi Arabia’s 2013 Budget – Jadwa
     

    Budgeted spending is at another all-time high in 2013, as the government continues with its program to upgrade the human and physical infrastructure and spurring economic growth. One highlight of the Ministry of Finance (MoF) budget announcement is the 18 percent jump in revenues. With no new initiatives announced, we think this is a sign […]

     
  • ‘Expansionary’ Saudi 2013 Budget Provides for Record Spending on the Back of 2012 Surplus
     

    A recently released report by Jadwa Investment on Saudi Arabia’s 2013 budget highlights the Saudi government’s plans for record spending to sustain the Kingdom’s economic expansion next year.

     
  • Nitaqat: Towards a Saudi “New Deal?”
     

    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 […]

     
  • Are Members of Royalty “Foreign Officials” Under the FCPA?
     

    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 […]

     
  • Saudi Is World’s Largest Market For Islamic Assets
     

    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 […]

     
  • Riyadh at Night
     

    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 […]

     
  • Jadwa Investment – December 2012 Saudi Chartbook
     

    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 […]

     
  • AME Info’s series on doing business in Saudi Arabia: a guide to the guide
     

    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.

     

MUST-READS

  • Surprise Battlefield Encounter Led to Hamas Leader’s Death

    In the end, the Israeli officials said, he was killed above ground on Wednesday, alongside two other militants, with no sign of hostages nearby. The Israeli authorities said they had confirmed his death on Thursday, using dental records and fingerprints. His DNA was also tested for confirmation, according to one Israeli official and the White House. While some hoped Mr. Sinwar’s death might signal an end to the Israeli invasion, Prime Minister Benjamin Netanyahu indicated that the offensive would not stop just because the engineer of last year’s deadly surprise attack on southern Israel had been killed.

  • Sinwar’s killing means much uncertainty for the war in Gaza but also possible opportunity

    “This would really be the cherry on the icing of the cake for Israel,” said Nomi Bar-Yaacov, an associate fellow of the International Security Program at the Chatham House think tank in London. “It should be easier to reach a deal.” With the architect of the Oct. 7 attacks eliminated, Prime Minister Benjamin Netanyahu could now tell Israelis that one of the war’s aims has been reached. Politically, that might allow him to be more flexible on a cease-fire deal that ends the war in exchange for hostages — a condition he has so far refused to accept, at least in part, critics say, because it could threaten his rule.

  • Netanyahu promises more war, dashing peace hopes after Hamas leader killed

    Prime Minister Benjamin Netanyahu's promises to press on with Israel's wars in Gaza and Lebanon dashed hopes on Friday that the killing of Hamas leader Yahya Sinwar might help end more than a year of escalating conflict in the Middle East. Lebanese militant group Hezbollah meanwhile vowed to escalate fighting against Israel and its backer Iran said "the spirit of resistance" would be strengthened by the death of its Palestinian ally Sinwar in Gaza.

  • China’s Q3 GDP hits weakest pace since early 2023, backs calls for more stimulus

    China's economy grew at the slowest pace since early 2023 in the third quarter, and though consumption and factory output figures beat forecasts last month a tumbling property sector remains a major challenge for Beijing as it races to revitalise growth. Authorities have sharply ramped up policy stimulus since late September, but markets are waiting for more details on the size of the package and a clearer road map to put the economy back on a solid longer-term footing.

  • At BRICS summit, Russia to push to end dollar dominance

    Russia is seeking to convince BRICS countries to build an alternative platform for international payments that would be immune to Western sanctions when it hosts the group's leaders at a summit next week. President Vladimir Putin is keen to build up BRICS - which has expanded to include Egypt, Ethiopia, Iran and the United Arab Emirates as well as Brazil, Russia, India, China and South Africa - as a powerful counterweight to the West in global politics and trade.

  • World Bank predicts strong economic growth for UAE and Saudi Arabia in 2025

    Saudi Arabia’s economy is projected to remain resilient, with GDP expected to grow by 1.6% this year and accelerate to 4.9% in 2025. Inflation in Saudi Arabia is anticipated to remain stable at 2.1% in 2024 and rise slightly to 2.3% in 2025. Both figures are below the Gulf Cooperation Council (GCC) average, forecasted at 2.2% in 2024 and 2.7% in 2025.

  • Swizz Beatz’s guide to AlUla, Saudi Arabia

    "My relationship with AlUla is like seeing a seed planted in the ground and watching a beautiful flower grow," says Dean, who was among the first invited to watch the construction of the city's massive Maraya performance venue – a mirror-clad behemoth rising out of the desert sands – and eco-friendly luxury accommodation resorts like Our Habitas. "Seeing the vision coming to life in front of my eyes has been magical to watch."

  • Nadal-Alcaraz and Djokovic-Sinner are the Six Kings Slam exhibition matches in Saudi Arabia

    Rafael Nadal starts his pre-retirement farewell tour against Carlos Alcaraz on Thursday at the Six Kings Slam, and Novak Djokovic faces Jannik Sinner at an exhibition event that awards money but no ATP ranking points and is Saudi Arabia’s latest foray into tennis. Riyadh will host the WTA Finals next month to open a three-year deal as the kingdom continues to invest in various sports, despite concerns about LGBTQ+ and women’s rights there raised by Hall of Famers Chris Evert and Martina Navratilova and others.

  • Khashoggi death: Saudi ambassador reveals new details

    Speaking to host Anne McElvoy, the kingdom’s top diplomat in London described the death and dismemberment of Khashoggi as “an awful crime — a stain on our country, not just the government but every Saudi out there,” while firmly denying any complicity by the powerful Saudi monarch.  “A group of people did something pretty horrible,” he told McElvoy. “But this is not what we do. We’ve never done that. There are others in the region who do a lot of that, including Israel.”

  • Saudi Arabia to raise localization rates in 4 health professions effective from April 17, 2025

    This will initially apply to all hospitals and other health facilities in major cities of Riyadh, Makkah, Madinah, Jeddah, Dammam, and Al-Khobar, as well as to large health facilities in other regions, and this will be effective six months after announcement of the decision, from April 17 next year. The second phase will begin one year after the announcement of the decision, effective from October 17, 2025 when Saudization rates will extend to cover all health facilities nationwide.