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$6.9 billion in Tourist Projects Approved under Saudi NTP
- August 2,2016
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- SUSTG Team
Saudi Arabia approved more than SR26 billion ($6.9 billion) of tourism projects under the Kingdom’s National Transformation Program (NTP) on Sunday, according to reports. The funding will go to existing development projects in the pipeline as well as new efforts to preserve Saudi Arabia’s heritage sites, of which many are seen as underdeveloped and inadequately protected. Previously, […]
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Fahad Nazer: ‘What I learned from attending a round table with the Foreign Minister of Saudi Arabia’
- July 29,2016
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- SUSTG Team
Last month, Foreign Minister Adel Al-Jubeir hosted a private round table discussion at the Embassy of Saudi Arabia in Washington with a very small group of Washington-based political analysts and Middle East scholars. Fahad Nazer, Senior Political Analyst at JTG Inc., shared his reaction from the meeting on JTG’s blog. “In this small, less formal setting, […]
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SABIC, Exxon Affiliate Studying JV Petrochemicals Complex on U.S. Gulf Coast
- July 26,2016
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- SUSTG Team
Saudi Arabia’s SABIC said Monday it is studying launching a jointly-owned petrochemicals complex with an affiliate of U.S. Exxon Mobil. fIf developed, the project would be “located in Texas or Louisiana near natural gas feedstock and include a world-scale steam cracker and derivative units,” the company said. Before making final investment decisions, the companies will “conduct necessary […]
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U.S. Warns Of ‘Potential, Imminent Threat’ Against Americans In Jeddah
- July 22,2016
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- SUSTG Team
The U.S. Embassy in Saudi Arabia posted a notice to its website yesterday warning of “potential, imminent threat against U.S. citizens in areas of Jeddah frequented by Westerners, such as markets, restaurants, and shopping malls, among others.” State Department spokesman John Kirby told reporters in Washington that the notice is “a security message, not a […]
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Pokemon GO Banned in Saudi Arabia; 3 Arrested at Jeddah Airport – Report
- July 20,2016
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- Lucien Zeigler
Pokemon GO, the viral video game phenomenon that has taken the U.S. and other markets around the world by storm, has been banned in Saudi Arabia, according to a report in the Evening Standard which cited the Arabic-language newspaper Almowaten. Pokemon GO is a game available on smartphones that allows users to catch different characters […]
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Construction Begins on ‘World’s Largest’ Gas Complex in Jazan, Saudi Arabia
- July 13,2016
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- SUSTG Team
Construction has begun on a $2.1 billion industrial gas complex in Jazan, Saudi Arabia, which is slated to become the largest such facility in the world. The industrial gas complex will serve Saudi Aramco’s Jazan refinery and terminal when complete, and will require 600MW to operate, according to a report in Gulf Business. The contract for the […]
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WTO launches new World Trade Outlook Indicator
- July 8,2016
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- SUSTG Team
The World Trade Organization (WTO) has launched a new World Trade Outlook Indicator (WTOI) designed to provide “real time” information on trends in global trade, the organization said on its website. The WTOI was unveiled in Shanghai, China on July 8th ahead of a meeting of G20 trade ministers. “Combining a variety of trade-related indices, the […]
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Ramadan Must-Watch TV: ‘Selfie 2’
- July 5,2016
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- SUSTG Team
Ramadan in Saudi Arabia is more than a month of fasting and personal reflection. It is a communal up-ending of one’s normal schedule with work, school and every facet of daily life rearranged in order to fulfill one of the five main pillars of Islam while also coming through this trial healthy and whole. Saudi […]
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Deputy Crown Prince Mohammed bin Salman Meets U.S. and Saudi Business Leaders in New York
- June 24,2016
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- SUSTG Team
Deputy Crown Prince Mohammed bin Salman met with business leaders and others in New York yesterday as his 13-day, packed-schedule visit across the United States comes to a close. Prince Mohammed was photographed meeting with top U.S. business leaders and “pioneers of innovation” in New York for a panel discussion, according to the twitter account […]
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King Salman, Deputy Crown Prince Mohammed Announce Inclusion of More Than 2,600 U.S. Students Into Scholarship Program on Arrival in Washington
- June 15,2016
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- Lucien Zeigler
Deputy Crown Prince Mohammed bin Salman used the occasion of his arrival to the United States this week to include an additional 2,600 Saudi students into the Custodian of the Two Holy Mosques Scholarship program, the visionary educational initiative created by the late King Abdullah that enables young Saudis to receive education and experiences abroad. […]
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MUST-READS
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Cash Crunch in SaudiSaudi Arabia Injects $5.3 Billion in Bank System Amid Crunch
Saudi Arabia’s central bank stepped up efforts to support lenders in the Arab world’s biggest economy as they grapple with the effects of low oil prices.
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SyriaU.S. Abandons Syria Truce Efforts and Lays The Blame With Russia
U.S. Secretary of State John Kerry abandoned his bid to salvage a cease-fire aimed at easing Syria’s 5 1/2-year civil war, saying it was pointless to press ahead without a “major gesture” from Russia to end the violence.
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JASTAWhite House pressures lawmakers to abandon Saudi 9/11 bill
"It's a delicate situation," Graham said. "Nobody wants to be seen as opposing justice for the 9/11 families, but at the end of the day we have a world to manage, and right now the world is not being well-managed."
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YemenYemen president names new central bank governor, moves HQ to Aden
The central bank has been the last bastion of the impoverished country's financial system amid a civil war and is effectively running the economy, according to central bank officials, diplomats and Yemenis on both sides of the war.
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LebanonLebanese Leadership Approval Ratings Remain Low Amid Impasse
Lebanon failed its 44th attempt on Wednesday to name a new head of state for the country, which has been without a president for more than two years. Amid the political paralysis, it is not surprising that just one in four Lebanese (25%) say they approve of the job performance of their country's leadership in 2016.
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Mizuho FinancialJapan’s Mizuho Plans Saudi Expansion as Aramco IPO Tempts Banks
Japanese banks are building up business overseas to counter slowing loan demand and sub-zero interest rates at home. Mizuho has participated in more than 30 foreign direct investments in Saudi Arabia over the past five years.
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Saad HaririCash crunch at Saudi firm casts shadow over Lebanon’s Hariris
The Hariri family's pre-eminent role in Lebanese politics is being shaken by a financial crisis at its Saudi construction firm, a development that could dilute Sunni influence in the country and leave Iran's allies even more firmly in control.
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UK Arms SalesSaudi Arabia makes plea for Britain not to ban arms sales
The Saudi foreign minister is to brief British MPs personally to urge them not to ban UK arms sales to Saudi Arabia in light of UN claims that British weapons were used to conduct indiscriminate attacks in Yemen on hospitals, markets and cities.
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Saudi-JapanJapan’s Biggest Banks Plan to Sign Agreement With Saudi Aramco
Mitsubishi UFJ Financial Group Inc.’s banking unit and its two biggest Japanese peers plan to sign a non-binding agreement with Saudi Arabian Oil Co. in Tokyo this week to expand lending to the state-run firm as it considers an initial public offering, people with knowledge of the matter said.
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Liquidity CrisisSaudi Arabia’s Attempts to Boost Bank Liquidity Aren’t Working
Easier lending rules and direct cash injections are doing little to alleviate a cash shortage at Saudi Arabian banks, now at its worst since the financial crisis.
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