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Storms Pound Saudi Arabia as Floods in Jeddah Claim 12 lives
- November 18,2015
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- SUSTG Team
At least 12 people are dead as torrential rains have flooded Jeddah, Saudi Arabia’s second-largest city, as thunderstorms reportedly turned “wadis into rivers and alleyways into raging torrents.” Local meteorologists report the city received 22 millimetres (.86 inches) of rain over a few hours. Two people were electrocuted when they touched a lamp post as they […]
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Consumers in Saudi Arabia Unaffected by Slump in Oil Price, Government Fiscal Policy Shifts
- November 2,2015
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- SUSTG Team
Consumers in Saudi Arabia are thus far reportedly feeling few effects of the fall in oil prices on the broader Saudi economy, Bloomberg reports, though the government is taking measures to curb spending and adjust its fiscal policy to new realities. “It’s Saudi policy in action,” writes Bloomberg. “When the revenue slows down, as it’s doing […]
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This is Damascus Now: Incredible Drone Footage Reveals Extent of Devastation in Damascus from Syria’s Bloody Civil War
- October 23,2015
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- SUSTG Team
Incredible aerial footage of Syria’s capital, Damascus, has emerged showing widespread devastation to a once vibrant city. The Associated Press reports that the original video was shot by RTR war correspondent Yevgeny Poddubny on October 18, noting, “thousands of Syrian army airstrikes and barrel bombs dropped from army helicopters throughout the country’s civil war have reduced […]
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In First Interview as Capital Markets Authority Chairman, Mohammed Al-Jadaan Indicates Willingness to Open Stock Market to Wider Foreign Investment
- October 21,2015
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- SUSTG Team
Saudi Arabia would be open to relaxing its rules on foreigners investing directly in its stock market to help it get included in global indices, the chairman of the Capital Market Authority told Reuters. In his first interview with international media, Al Jadaan told Reuters that “[o]ne of our objectives is to ensure we are […]
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CMA Tightens Curbs on Anonymous Investors in Preventive Measure to Curb Money Laundering and Terrorist Financing
- October 14,2015
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- SUSTG Team
Saudi Arabia’s Capital Market Authority has further tightened its restrictions on anonymous investors trading shares through brokers in a bid to prevent money laundering and financing of militant groups, Reuters reports. The new rules apply to Saudi and Gulf-based brokers and banks “which offer opportunities to invest in the Saudi stock market through funds called ‘nominee accounts’. […]
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Riyadh Metro Milestone Hit As Drilling Completed in First Tunnel Section
- October 8,2015
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- SUSTG Team
Saudi Arabia’s long-awaited Riyadh metro project has hit a major milestone as a consortium led by Spanish construction giant FCC said it has completed the drilling work related to the first tunnel section of Line Five (Green line). According to TradeArabia, FCC said these works “represent a new milestone for the consortium after becoming the […]
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Saudi Foreign Minister Adel Al-Jubeir Deplores World’s Inability to End Bloodshed in Syria in UN Speech
- October 2,2015
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- SUSTG Team
In a passionate speech to the members of the UN General Assembly yesterday, Saudi Arabia’s Foreign Minister Adel Al-Jubeir said “those whose hands are stained with the blood of the Syrian people” have no place in a “new Syria” and expressed deep concern that the international community has been unable to save innocent Syrians from the […]
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An Overview of the Conflict in Yemen, in Maps
- October 1,2015
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- SUSTG Team
The European Council on Foreign Relations published an extensive and informative overview of the conflict in Yemen using maps to show the country’s political history and ongoing conflicts. “Far from reaching a tidy conclusion,” the conflict is War in”growing, if anything, more complicated by the day,” the EUCFR writes. “Rather than being a single conflict, […]
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Democratic Ex-Congressman Calls for Deepening of U.S.-Saudi Ties, ‘This partnership serves U.S. economic as well as security interests’
- September 29,2015
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- SUSTG Team
Former Rep. Gary L. Ackerman (D-N.Y.) from New York, who served for 30 years in the U.S. House, has penned an op-ed in The Hill outlining the importance of strengthening ties between the U.S. and Saudi Arabia. “Sometimes, it’s a good idea to reach out to your enemies. But don’t ever take old friends for […]
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Saudi King Salman Orders Safety Review After Hajj Stampede Tragedy
- September 25,2015
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- SUSTG Team
Saudi Arabia’s King Salman has ordered a safety review for the Hajj pilgrimage after at least 717 people died and 863 were injured in a stampede at Mina, near the holy city of Mecca, according to reports. Via a report in Germany’s DW, Saudi officials put the blame for the tragedy partially on”undisciplined pilgrims” who […]
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MUST-READS
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UN Yemen DisputeDispute ruptures between UN’s Ban Ki Moon and Saudi Arabia
A diplomatic fight, usually kept behind closed doors, exploded in public Thursday as U.N. Secretary-General Ban Ki-Moon accused Saudi Arabia and its military allies of placing "undue pressure" on the international organization.
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Saudi LiquidityDubai’s Arqaam Advises Avoiding Saudi Banks on Rates, Economy
Tighter liquidity conditions are likely to persist in the “medium term,” the investment bank said in a note on Thursday, adding that rising interbank rates have a relatively insignificant impact on bank margins and profitability. Arqaam also said it doesn’t expect the Saudi Arabian Monetary Agency to fine any banks as a result of its request that lenders stop lowballing interbank rate submissions.
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Iran SanctionsU.S. Said to Rebuff EU Bid to Shield Banks on Iran Sanctions
European Union governments have hit a wall with the U.S. in attempts to shield banks and companies that do business with Iran from the threat of financial sanctions.
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Travel and TourismThe Abandoned Ruins of Al Ula, Saudi Arabia
Walking through the narrow corridors of Al ‘Ula in northwestern Saudi Arabia is like traversing a maze, with ancient history at each turn. Once a bustling civilization, these 800 tightly packed mud-brick and stone houses — parts of which are more than 2,000 years old — are now abandoned ruins, decaying in the hot desert sun.
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Saudi Aramco IPOSaudi Aramco listing lures banks with prospects of game-changing deals
Investment banks are jostling to take part in the listing of a chunk of Saudi Arabia's state-owned oil giant Aramco as a portal to the lucrative deals they expect to flow from the kingdom's plan to revamp its economy.
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Saudi-BangladeshBangladesh to send 500,000 workers to Saudi over two years
Saudi Arabia and Bangladesh will sign six major agreements in an effort to increase mutual cooperation and strengthen strategic partnership in regional and international affairs.
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AfghanistanWith New Tactics, Taliban Gain Ground in South Afghanistan
First they storm a checkpoint, kill all the policemen, seize their weapons and equipment and effectively cut off the main road to a remote village.
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Islamic State bans satellite TV in Iraq’s second-largest city, citing infidel brainwashing
Depriving Iraqis of their beloved satellite entertainment is no small issue. Most, if not all, placed at least one dish on their homes with the rough-and-tumble freedoms that followed the U.S. ouster of Saddam Hussein in 2003. They rely on the images beamed from space for their news, soap operas and sports.
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IraqIslamic State bans satellite TV in Iraq’s second-largest city, citing infidel brainwashing
Depriving Iraqis of their beloved satellite entertainment is no small issue. Most, if not all, placed at least one dish on their homes with the rough-and-tumble freedoms that followed the U.S. ouster of Saddam Hussein in 2003. They rely on the images beamed from space for their news, soap operas and sports.
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PakistanTaliban Leader’s Killing Shows Deeper U.S.-Pakistan Strains
The U.S. drone strike that killed the Taliban’s top leader as he traveled through Pakistan reflects just how much the U.S. is willing to disregard an ally it increasingly sees as an obstacle to securing peace in Afghanistan.
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