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Saudi-Turkey Ties Grow with Erdogan Visit, Agree to Form ‘Strategic Cooperation Council’
- December 30,2015
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- SUSTG Team
Turkish President Recep Tayyip Erdogan visited Saudi Arabia this week to meet with top Saudi officials to discuss security and energy cooperation. Erdogan said his government and Saudi Arabia are working “in solidarity and consultation” to find a political solution for Syria, as both countries push for an agreement that would remove Assad from power, […]
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Early Look at Saudi Arabia’s 2016 Budget Reveals Spending at $226b
- December 28,2015
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- SUSTG Team
Saudi officials revealed the Kingdom’s 2016 budget at a press conference today in Riyadh, a budgeted spend of 840 billion riyals ($224 billion) and forecasted revenue at 513 billion ($137 billion). The budget plan aims to reduce the fiscal deficit while raising revenues from sources other than oil. King Salman said that Saudi Arabia’s economy […]
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‘Major Economic Shake-Up’ In the Works for Saudi Arabia
- December 21,2015
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- SUSTG Team
Saudi Arabia’s deputy crown prince Mohammed bin Salman, Minister of Defense and chair of the powerful Council of Economic and Development Affairs, is planning a major economic shake-up that involves “plans to reshape the economy to withstand low oil prices,” sources told Reuters privately. The strategy includes state spending reforms and privatizations. Bloomberg reports that Saudi officials […]
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Foreign Minister Al-Jubeir Discusses Yemen, Islamic Military Alliance in France 24 Interview
- December 18,2015
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- SUSTG Team
In an interview with France24 on YouTube, Saudi Arabia’s foreign minister Adel Al-Jubeir discussed the ongoing Yemen peace talks in Geneva, the situation in Yemen, the newly created Islamic Military Alliance and also responded to a question about Donald Trump’s recent remarks regarding Muslims in America. On the conflict in Yemen, Al-Jubeir said that he hoped […]
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No Change in Oil Strategy As Producers Continue With Pursuit of Market Share
- December 4,2015
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- SUSTG Team
OPEC appeared likely to maintain its policy of high production levels at its annual meeting in Vienna, according to reports, a decision that will continue downward pressure on crude prices in favor of greater market share. The decision to stick to the strategy was expected, but it is risky for countries that need the revenue, […]
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All Eyes on Vienna as OPEC’s 168th Meeting Marks One Year of Saudi-led Strategy to Squeeze High Cost Producers
- December 1,2015
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- SUSTG Team
The oil-producing nations of OPEC convene in Vienna on Friday, exactly one year since Saudi Arabia took the lead on its strategy to ramp up output to drive out higher-cost producers and secure market share. The results have been a global oil market in a state of persistent oversupply and unexpected resilience from smaller producers. Saudi […]
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Jeddah Construction Gets Boost with $2.2b Real Estate Fund
- November 30,2015
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- SUSTG Team
A new real $2.2 billion estate fund will drive ongoing construction at the Kingdom Tower Jeddah and the surrounding development, slated to become the world’s tallest building upon its targeted completion in 2018. Jeddah Economic Co., co-founded by Saudi billionaire Prince Alwaleed Bin Talal’s Kingdom Holding Co., is forming the 8.4 billion-riyal ($2.2 billion) real estate […]
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‘The key challenges are our overdependence on oil and the way we prepare and spend our budgets’, Saudi Deputy Crown Prince Mohammed bin Salman Says to NYT Columnist Friedman
- November 25,2015
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- SUSTG Team
In an op-ed published today in the New York Times, columnist Tom Friedman discussed his recent visit to Saudi Arabia and the seismic shift in governance in the Kingdom over the last year. The columnist spent an evening with one of the Middle East’s most powerful leaders, Deputy Crown Prince Mohammed bin Salman, and said the […]
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Report: Saudi Arabia to Work with OPEC to ‘Stabilize Prices’
- November 24,2015
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- SUSTG Team
A Bloomberg report citing the Saudi Press Agency said the Kingdom would work with producers within and outside the Organization of the Petroleum Exporting Countries to stabilize the market. The news sent oil price futures higher on international indices on Monday, but speculation about a global supply glut and signs of rising U.S. stockpiles caused […]
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Land Tax Finalized: 2.5% Annual Fee on Property Approved in Cabinet Session Chaired by King Salman
- November 23,2015
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- SUSTG Team
Saudi Arabia’s cabinet, in a meeting chaired by King Salman, finalized a 2.5% fee on undeveloped land within city limits intended for residential or commercial use, according to the SPA and reports. Property experts told the Saudi Gazette that the fee could raise up to $13 billion (SR50 billion) worth of revenues annually for the government. The […]
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MUST-READS
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Vision 2030‘The family silver is up for sale’: How the Saudi Aramco share offering marks the start of big changes for the Kingdom
Saudi Aramco has been "disproportionately reported on," says CEO of investment advisory firm OCO Global Mark O'Connell, given the other changes occurring across the Gulf and in Saudi Arabia in particular, which are "far more interesting."
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Global Engagement CenterAnalysts Are Quitting the State Department’s Anti-Russia Propaganda Team
The Obama administration established the GEC in 2016 to counter ISIS’ various online messaging efforts, directing the new office to use data and work with international partners in a bid to undermine extremist propaganda more effectively than State’s previous such unit, the Center for Strategic Counterterrorism Communications.GEC’s toolbox included various outreach efforts, including highly targeted ad buys on Facebook.
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Solar PowerSaudi Aramco and start-up partner on waterless solar cleaning solutions
Under the technology licensing agreement, Saudi Aramco will allow NOMADD to integrate its own fully-automated waterless solar cleaning system with the cleaning system developed by Saudi Aramco’s R&D team based at King Abdullah University of Science and Technology (KAUST). Traditional solar module cleaning can be very water-intensive, so a waterless solution would be highly suitable for the water-scarce desert environments of the Middle East.
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Saudi-JapanSaudi FM gifts Japanese counterpart ‘the great great grandfather of iPhone’
The astrolabe comes with a manual as well so Kono jokingly said it was like an iPhone to which Jubeir replied: “Yes, the great great grandfather of the iPhone.”
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Israel-SyriaIsrael is courting Syrian ‘hearts and minds’ to keep Hezbollah away
Israel has watched anxiously as President Bashar al-Assad has taken the upper hand in Syria’s war with the aid of Hezbollah and Iran, its main backer, which are building their presence across the border.
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Global Oil MarketsOil rises as U.S. refineries restart, Irma wanes
Oil prices rose on Monday as key U.S. refineries began restarts following Hurricane Harvey, which may help revive crude oil processing, while fuel prices fell as Hurricane Irma is likely to clip demand for gasoline and diesel.
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Russia in the RegionEven the Saudis Are Turning to Russia as Assad’s Foes Lose Heart
The Saudis hosted a meeting of Syrian opposition factions last month, pushing for an accord between hardline anti-Assad groups and others less insistent on his immediate departure. Russian Foreign Minister Sergei Lavrov is due in Riyadh for more talks in the coming days, ahead of an expected visit to Moscow by King Salman.
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Women's RightsSaudi sports reforms give girls in the kingdom a running start
This week means “back-to-school” for millions of students across the globe. In Saudi Arabia, where the new schoolyear begins on September 10, girls have a particular reason to rejoice. For many decades, Saudi women and girls have been effectively deprived of their right to play sports in schools — or even to exercise. Thanks to reforms made over the summer, for the first time, Saudi girls will be able to enjoy this fundamental right.
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ShailasSaudi youth remix traditional rhyming art
The sight reflects a new trend among Saudis who, after years of listening to more refined music composed by well-known Saudi or Gulf musicians and performed by famous singers, seem to have reverted to a type of entertainment closer to the concepts of their forefathers.
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Israeli TechFrom Startup Nation to Tech Nation in the Middle East
94 Israeli companies are listed on Nasdaq at present. That’s more companies listed on Nasdaq than any other country, barring the United States and China–despite Israel’s meager size in comparison. Additionally, Israel has been said to attract more venture capital and more startups per capita than the rest of the world, raising $4.8 billion dollars in funding last year. 85% of the funding is from international investors.
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