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An Outpouring of Grief from Saudis on Social Media as Heads of State Arrive for Funeral of the Late King Abdullah
- January 23,2015
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- SUSTG Team
Saudi Arabia’s citizens took to social media to express their grief and sadness at the death of King Abdullah bin Abdulaziz al Saud as heads of state arrived in Riyadh to attend services and express solidarity with the leaders and people of the Kingdom. At the time of this writing, the hashtag #KingAbdullah is the […]
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President Obama: ‘My personal condolences and the sympathies of the American people’ following death of King Abdullah as VP Biden plans visit
- January 23,2015
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- SUSTG Team
President Obama issued a statement today on the death of Saudi Arabia’s King Abdullah bin Abdulaziz, expressing his condolences and “the sympathies of the American people” to the family of the King and the people of Saudi Arabia. “It is with deep respect that I express my personal condolences and the sympathies of the American […]
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OPEC to Oil Companies at Davos: ‘Let’s produce the lower cost oil first and then produce the higher cost…prices will rebound’
- January 22,2015
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- SUSTG Team
In dueling speeches at the Davos World Economic Forum in Switzerland, oil company heads and OPEC representatives clashed about the collapse in the price of oil, according to a report in Reuters. Oil company chiefs at from Italy’s Eni Spa and France’s Total said that OPEC’s unwillingness to cut output “could lead to a huge […]
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Spain’s Abengoa and AWT to Develop the World’s First Solar-Powered Desalination Plant in Saudi Arabia
- January 21,2015
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- SUSTG Team
[Press Release] Spain’s Abengoa (MCE: ABG.B/P SM /NASDAQ: ABGB), the international company that applies innovative technology solutions for sustainability in the energy and environment sectors, has been selected by Advanced Water Technology (AWT) to jointly develop the world’s first large-scale desalination plant to be powered by solar energy, in Saudi Arabia. AWT is a newly formed company […]
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Google’s Eric Schmidt Headlines Impressive Speaker List for the Upcoming Global Competitiveness Forum (GCF) on January 25th in Riyadh
- January 20,2015
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- SUSTG Team
Google’s executive chairman Eric Schmidt will speak at the upcoming Global Competitiveness Forum (GCF) in Riyadh, Saudi Arabia, according to the Forum’s website. The technology billionaire headlines a long list of high-level speakers set to descend on Riyadh to discuss investment and development in the region and beyond. Schmidt joined Google in 2001 and served […]
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Jadwa Investment: Central Department of Statistics Finds 2014 inflation rate was 2.7%, Down from 3.5% in 2013
- January 19,2015
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- SUSTG Team
According to a recently released note by Jadwa Investment, a leading Saudi investment firm, inflation in the Kingdom was down in 2014 to 2.7% on average, and found a deceleration in prices to 2.4% year-on-year. Jadwa’s Head of Research Dr. Fahad Alturki wrote in an investor note: “The Central Department of Statistics and Information (CDSI) has […]
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U.S. Delegation Led by Senator John McCain Visits Saudi Arabia to Discuss Military Cooperation Efforts Against Daesh, Training of Moderate Rebels
- January 19,2015
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- SUSTG Team
U.S. Senate Republican John McCain and a delegation of Senate Armed Services Committee members visited Saudi Arabia on Saturday as part of a broad tour of the region to discuss American-Saudi joint efforts to back moderate Syrian rebels in that country’s 4-year old civil war. According to the Guardian, McCain and the Senate Armed Services […]
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Solar Power in MENA to See Six-Fold Growth in 2015
- January 16,2015
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- Lucien Zeigler
The MENA region will see solar projects worth $2.7 billion unveiled in 2015, 6 times as much as 2014, according to Arabian Business, which cited a new study by the Middle East Solar Industry Association (MESIA). 1,800MW worth of solar projects will be tendered or awarded during the next 12 months, compared with less than 300MW […]
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‘No Shortage of Funds’ for Saudi Arabia’s Troubled Housing Market as Minister Eyes Taxes on Undeveloped Lands
- January 14,2015
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- SUSTG Team
A longstanding issue for the Kingdom of Saudi Arabia has been the drag on the housing market caused by privately-owned property in urban locales that remains unused with no plans for development. Without taxation of this land, and low prices that owners might receive on the market, there is little incentive to sell it. However, […]
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Photos: Rare Snow Blankets Areas of Saudi Arabia
- January 13,2015
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- SUSTG Team
A rare blanket of snow hit areas of Saudi Arabia on Monday, causing a stir on social media sites and even eliciting a Fatwa about snowmen. The bulk of the snow hit a town near the northern city of Tabuk, according to the BBC. Images appearing on the website Alriyadh.com, which often has excellent user-submitted photographs […]
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MUST-READS
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Colorado sought NIL funding from Saudi Arabia’s PIF in unpreceded move
Deion Sanders and his Buffaloes staff have been at the forefront of innovative business ideas during his tenure with Colorado. As it turns out, NIL funding is no different. After resigning as CU’s special teams coordinator on August 1st, Trevor Reilly went on the record about trying to pull in funding for the school’s 5430 NIL collective. He expressed to Sports Illustrated that there were no bad feelings between anyone with the program, but rather he was at odds with a few people in Colorado’s administration.
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Power couple Ronaldo and Rodriguez take Saudi Arabia by storm in new season of I Am Georgina
Saudi Arabia is increasingly becoming the new hotspot for global celebrities, especially from the football world. Cristiano Ronaldo has been making headlines on and off the pitch and recently set a YouTube record, acquiring nearly 15 million subscribers in just 24 hours. Likewise, his partner, Georgina Rodriguez, has been the talk of the town as well, returning with yet another instalment of her Netflix reality show, I Am Georgina.
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U.S., Israel and Egypt meet on Gaza border security sticking point
Israeli Prime Minister Netanyahu's demand that Israel Defense Forces continue to be deployed along the Philadelphi corridor on the border of Egypt and Gaza has become one of the main — and final — points of contention on the way to a deal to release hostages being held by Hamas and establish a ceasefire in Gaza.
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Saudi Arabia’s Sales From Oil Exports Drop to Three-Year Low
Saudi Arabia’s revenue from oil exports has slumped to the lowest level in three years, caused by a drop in prices and the kingdom’s decision to curb production. Sales from shipments of crude oil and refined products fell to $17.7 billion in June, according to the country’s main statistics body. That’s down more than 9% year-on-year and about 12% from May.
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Neymar celebrates Esports World Cup in Riyadh: ‘A great opportunity for Saudi Arabia and the world’
Neymar Jr., the renowned Al Hilal and Brazil forward, has added his voice to the growing acclaim for the Esports World Cup in Riyadh, describing the event as a "great opportunity" for both Saudi Arabia and the global community. His endorsement came during a special appearance on Tuesday, where he led ‘Team Neymar Jr’ in a sold-out competition at the SEF Arena. Neymar, who has been with Saudi Pro League champions Al Hilal since 2023, is not just a football icon but also a passionate gamer.
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Five Saudi banks to finance cultural development fund
Five Saudi banks have agreed to provide financing for a new arts fund managed by Saudi Arabia’s Cultural Development Fund, which has been leading government support for the arts since 2021. The agreement with Al-Rajhi Bank, Alinma Bank, Banque Saudi Fransi, Arab National Bank and Bank Aljazira will provide support to private sector projects in the 16 areas covered by the fund, which include architecture, museums, film, fashion, music and poetry.
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Egypt and Saudi Arabia accelerate $1.8 billion electricity interconnector project
The first phase is slated to begin in July 2025, and the entire project is anticipated to be fully operational by early 2026. At an estimated cost of $1.8 billion, this project represents a major investment in regional energy cooperation.
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10 Saudi Players to Watch in 2024-25 RSL
The dawn of a new season brings with it fresh excitement about the fresh additions to the Roshn Saudi League, names that will provide hours of entertainment across the next 34 rounds of action. Equally as entertaining, however, are the household stars already within the league that have set the benchmark for some time now, or perhaps have only emerged, standing above as the best Saudi players in the RSL. A mix of experienced and youthfulness, here are 10 Saudi Arabians to keep an eye out for as the 2024-25 season kicks into gear on Thursday.
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Saudi Arabia’s National Water Company constructs 3 reservoirs in Riyadh
The National Water Company (NWC) announced that it has recently completed the construction and operation of a number of water reservoirs to support the daily water supply in Diriyah Governorate and Hattin and Al Nakheel districts north of Riyadh. The total cost is more than 43 million Saudi Riyals ($11.4 million) as part of Phase 1 of the Strategic Water Plan in Riyadh.
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Saudi Arabia’s profits from oil exports plunge as kingdom tightens purse strings
Saudi Arabia’s revenue from oil exports have plummeted to a three-year low, testing the kingdom’s ability to support oil prices by choking supply. Saudi Arabia earned just $17.7bn from oil sales abroad in June, according to government data, or nine percent less than it did at the same time last year, and 12 percent less than in May. Bloomberg reported in July that Saudi Arabia exported about 5.6 million barrels of oil a day in June, just 250,000 barrels more than it was exporting during the start of the Covid-19 pandemic when global travel and oil demand crashed.
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