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Recent stories from sustg
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U.S. State Department OKs Sale of 600 Patriot Missiles, Ammunition and Arms to Saudi Arabia
- July 30,2015
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- SUSTG Team
The U.S. State Department today approved the sale of 600 patriot missiles to Saudi Arabia at a cost of $5.3 billion, according to reports. The additional additional PAC-3 missiles for Saudi Arabia will be built by Lockheed Martin Corp. “The Kingdom of Saudi Arabia has requested a possible sale of six hundred (600) Patriot Advanced Capability-3 […]
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Deputy Crown Prince Mohammed bin Salman Orders Aid to Yemen as Gains for Saudi-backed Forces Continue
- July 24,2015
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- SUSTG Team
Saudi-led coalition land forces operating in Yemen have seen gains in recent weeks following the initiation of Operation Golden Arrow to recapture the city of Aden on July 16, according to DefenseNews.com. Saudi Arabia’s Brig. Gen. Ahmed Al-Assiri told Al-Arabiya television in an interview on July 22 that “[Saudi] are supporting the legitimate corps in the […]
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Defense Secretary Ash Carter in Saudi Arabia to Meet with King Salman, Deputy Crown Prince Mohammed bin Salman
- July 22,2015
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- SUSTG Team
Secretary of Defense Ash Carter met today with King Salman and his defense minister, Deputy Crown Prince Mohammed bin Salman, in Jeddah on the Red Sea coast to reassure Saudi Arabia about U.S. commitment to their security. Secretary Carter is also slated to meet with GCC military officials, per remarks made by Saudi Foreign Minister Adel Al-Jubeir […]
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Saudi Arabia’s King Salman’s Outreach to Hamas Leader Seen as Widening Effort to Counter Iran through Arab Unity
- July 21,2015
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- SUSTG Team
King Salman’s historic meeting last Friday with Hamas leader Khaled Meshaal “was part of an effort by Riyadh to shore up Arab unity in the face of a perceived threat from Iran that it believes has become more urgent since last week’s nuclear deal,” writes Angus McDowall in Reuters. Meshaal, who was on pilgrimage to […]
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How Saudi Women are Finding a Way in the Workforce
- July 20,2015
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- SUSTG Team
Saudi women’s successes in the workforce represent “evidence of a slow but seismic shift” in Saudi society with entrepreneurs and career professionals finding ways toward career success in the Kingdom, according to a feature story by Alexandra Zarvis in the Los Angeles Times. “No matter how successful we are, no matter how much we achieve, the […]
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Official White House, Saudi Statements on Iran Deal
- July 15,2015
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- SUSTG Team
U.S. President Barack Obama spoke with Saudi Arabia’s King Salman by phone on Tuesday to discuss the results of the P5+1 negotiations over Iran’s nuclear program. President Obama also expressed his condolences over the recent passing of HRH Prince Saud al-Faisal. According to a readout by the White House, President Obama “shared details of the Joint Comprehensive […]
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Secretary of State John Kerry Issues Statement on Passing of HRH Prince Saud al-Faisal
- July 10,2015
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- SUSTG Team
U.S. Secretary of State John Kerry issued a statement today expressing condolences for HRH Prince Turki al-Faisal. “Teresa and I join with my colleagues, past and present, across the United States government in expressing our deep sadness at the passing of Prince Saud Al Faisal, who served as Foreign Minister of Saudi Arabia for more […]
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Improvement in Demand, Slowdown in Shale Output Push Oil Market Prices Up 13% in 2Q 2015: Jadwa Investment
- July 8,2015
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- SUSTG Team
Oil prices are rebounding steadily following a low point at the beginning of 2015, according to a recently released analysis of the oil market by Riyadh-based Jadwa Investment. Jadwa Chief Economist Dr. Fahad Alturki said that a general improvement in oil demand and slowdown in the rate of growth in US shale oil output combined […]
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Three Saudi Brothers Arrested in Connection with Mosque Bombing in Kuwait
- July 7,2015
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- SUSTG Team
Three Saudi brothers have been arrested in connection with a suicide bombing at a Shi’ite mosque in Kuwait last month, according to Saudi and Kuwaiti authorities and as reported by the Reuters news agency. “The three brothers were ‘parties to the crime of the sinful terrorist bombing that targeted the Imam al-Sadeq mosque in Kuwait,’ the SPA state news […]
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Oil sector pushes up overall growth for Saudi Arabia in 1Q 2015 – Jadwa Investment
- July 6,2015
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- SUSTG Team
According to a recently released report by Jadwa Investment, the Saudi economy saw 2.4% year-on-year growth in real terms in the first quarter of 2015. “The acceleration was mainly attributed to the oil sector, which grew following two consecutive quarterly declines,” Jadwa writes. “We assume that year-on-year economic growth will reach similar levels in the […]
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PakistanUS drone strike in Pakistan kills Taliban leader Mullah Mansoor
The leader of the Afghan Taliban has been killed by a US drone strike in an area of Pakistan hitherto off-limits for the remote-controlled aircraft, sources confirmed on Sunday.
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BankingGulf banks need to adapt to digital transformation reality
The situation in the region and even more in the Kingdom of Saudi Arabia is highly paradoxical. The region’s population is one of the most digital savvy across the globe, with the GCC ranking alongside nations with the highest penetration rate of mobile phones. Yet, banks are not providing the solutions customers want.
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Islamic Development BankSaudi Arabia to join Turkey, Indonesia in infrastructure Islamic bank
Speaking to Reuters on the sidelines of the annual IDB meeting of governors in Jakarta on Thursday, Bambang Brodjonegoro said the four could contribute around $300 million each for the project, with plans calling for the establishment of two regional Islamic banks based in Istanbul and Jakarta.
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IranFor European banks, U.S. assurances on Iran come with asterisks
The United States has a simple answer for executives of European banks scratching their heads over whether it is now legal for them to do business with Iran: Just ask.
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Saudi BinladinSaudi’s Binladin secures bank loan to ease finance crunch
Construction firm Saudi Binladin Group has secured a 2.5 billion riyal ($667 million) loan from local banks to ease its financial pressures, banking sources aware of the matter said on Wednesday.
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AfghanistanAfghanistan signs draft pact with Taliban-allied militants
Afghanistan signed a draft agreement on Wednesday with the Hezb-e-Islami militant group in a move the government hopes could lead to a full peace accord with one of the most notorious warlords in the insurgency.
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Economic VocabularyThe World Bank is eliminating the term “developing country” from its data vocabulary
In the 2016 edition of its World Development Indicators, the World Bank has made a big choice: It’s no longer distinguishing between “developed” countries and “developing” ones in the presentation of its data.
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YemenYemen imposes weekday ban on khat sale
Authorities in south Yemen have banned the sale of the mild narcotic khat on weekdays, confirming that it will be only allowed into the city of Aden and its suburbs at weekends.
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LebanonLebanon seeks to ease concerns over U.S. law on Hezbollah
The Lebanese prime minister sought to ease concerns about a new U.S. law targeting Hezbollah's finances in comments published on Monday, after the group attacked the central bank for agreeing to measures it depicts as part of a war against it.
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Islamic BondsSaudi banks Jazira, Bilad planning local sukuk issues
Two of Saudi Arabia's smaller banks by assets are planning to sell Islamic bonds, or sukuk, in the coming weeks which will bolster their capital reserves, sources familiar with the matter told Reuters.
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