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  • Jadwa: Private sector leads real GDP growth in Q2
     

    Jadwa Investment recently released a report about GDP growth in Saudi Arabia, noting that the private sector was leading real GDP growth in the second quarter of 2012. Latest economic growth data released last week confirm that the healthy performance of the Saudi economy continued into the second quarter of 2012 albeit at slower pace than previous […]

     
  • Abdullah Alireza speaks at C3 Summit
     

    SUSTG attended the C3 Summit in New York City September 13-14, 2012. This was the inaugural event in what the organizers anticipate will be an annual gathering to ‘build new relationships, foster existing partnerships and exchange best practices’ between the U.S. and the Arab world. C3 (Community, Collaboration and Commerce) is looking to host the […]

     
  • Saudi Arabia says job-creation policy bears fruit
     

    Saudi Arabia, grappling with chronic youth unemployment, has created 380,000 new jobs in 10 months by requiring private firms to employ Saudis, Labor Minister Adel al-Fakeih said, the Saudi Gazette reported on Monday. “This figure is 20 times what had been previously achieved over the past five years before Nitaqat (the main jobs program) was […]

     
  • Total US-Saudi Bilateral Trade Reaches Record-High $39 Billion in H1 2012
     

    Total bi-lateral trade between Saudi Arabia and the United States reached $39 billion in the first six months of 2012, a record high for any half to date.  Below are some key US-Saudi trade figures for the first half (H1) of 2012 provided to SUSTG by the Saudi Commercial Office at the Royal Embassy of […]

     
  • ‘A Disciplined Approach To Forward-Looking Policymaking’
     

    A recently released report by the Center for Strategic and International Studies on Saudi Arabia’s energy policy finds that the Kingdom is pursuing a “disciplined approach to forward-looking policymaking.” The report was published by Hisham Akhonbay, who is a visiting fellow with the Energy and National Security Program at CSIS from the King Abdullah Petroleum […]

     
  • Will Saudi Arabia become an oil importer by 2030?
     

    THIS was the question asked all of this past week all over the world. Thousands of stories were filed on the topic, following speculation by a Citigroup analyst that Saudi Arabia may start importing oil by 2030. According to that theory, by 2030, Saudi consumption of oil would outstrip production and we could be importing […]

     
  • Saudi Mortgage Law: Key Details Still to be Determined
     

    Saudi Arabia faces housing challenges caused by rapid population growth and an inflow of expatriate workers to the kingdom.

     
  • Property rents soar in Saudi Arabia, analyst report shows
     

    Residential property rents in Saudi Arabia’s main cities have increased by up to 15% in some locations in the first six months of the year. The latest analysis report from real estate consultants CBRE explains that an increasing population and a rapid rise in per capita GDP has led to soaring rents. There has been […]

     
  • Mitt Romney on Foreign and Middle East Policy
     

    This [US election] year is different. There is relatively little attention to issues outside America’s borders – only four percent of Americans “consider foreign affairs much of an issue in this year’s campaign” according to Foreign Policy.com.  The sluggish economy – taxes, unemployment, deficits, thorny domestic issues and “personality” questions dominate the campaigns. With the […]

     
  • Saudi per capita water consumption 91% higher than global average
     

    Per capita water consumption in Saudi Arabia is 91 percent higher than the international average, according to a new report by the country’s Saline Water Conversion Corporation (SWCC). Saudi Arabia is the world’s largest producer of desalinated water, accounting for at least 17 percent of the total world output. The Kingdom has invested nearly $25 […]

     

MUST-READS

  • LEAP 2024: Oracle to focus on Saudi Arabia’s AI economy goals

    “Over the last three decades, Oracle has significantly expanded its presence in Saudi Arabia to help the Kingdom emerge as a digital economy leader. Our US $1.5 billion investment in Saudi Arabia will play a vital role in expanding local cloud capacity, which will act as the foundation for local organisations to unlock the full potential of latest digital technologies like Artificial Intelligence”, said Reham AlMusa, vice president – Business Applications, and Saudi Arabia Country Leader, Oracle.

  • Pakistan is aiming to increase trade with Saudi Arabia to $20bn: minister

    Pakistan is aiming to increase its trade capacity with Saudi Arabia to $20 billion through enhancing business conditions, according to a top official. The Saudi-Pakistani Business Forum kicked off in Riyadh on Feb. 22 under the patronage of Minister of Commerce Majid bin Abdullah Al-Qasabi, organized by the Federation of Saudi Chambers, according to the Kingdom’s official press agency. During the event, Pakistan’s Minister of Commerce Gohar Ejaz highlighted the role of the Free Trade Agreement between the Gulf Corporation Council countries and his nation in opening up opportunities for investors from both regions. 

  • PRESSR: ACT treasury briefing in Saudi Arabia explores cutting-edge financing strategies

    The Association of Corporate Treasurers (ACT), is set to present its treasury briefing on 26th February 2024 at Al Waha Crowne Plaza, Riyadh, Saudi Arabia. The briefing will address the effective management of working capital cycles and the strategic use of diverse financing solutions to optimize

  • Saudi Arabia considers regulatory framework for follow-on share offerings -CMA

    Saudi Arabia has invited the market to join a public consultation on a planned framework to enable large shareholders to float additional shares, said Abdullah Binghannam, Deputy of Financing and Investment, Capital Market Authority. The 'FMO' framework would be a process that is governed and regulated and a catalyst for increasing the free float of listed companies, Binghannam told an audience at the Saudi Capital Markets Forum in Riyadh.

  • Alat and Carrier to build HVAC facility in Saudi Arabia

    Alat, a Public Investment Fund (PIF) company, and Carrier Global Corporation (NYSE: NYSE:CARR), have announced a partnership to establish a state-of-the-art manufacturing and R&D center in Saudi Arabia. This facility is set to produce advanced heating, ventilation, and air conditioning (HVAC) solutions to meet the demands of the Kingdom's Giga projects like NEOM, as well as for broader regional and global distribution.

  • Day 2 at ICJ hearing: Saudi Arabia condemns Israel’s actions in Palestinian Territories as ‘legally indefensible’

    South Africa on Tuesday urged the International Court of Justice (ICJ) to issue a non-binding legal opinion that the Israeli occupation of Palestinian territories is illegal, arguing it would help efforts to reach a settlement. Representatives of South Africa opened the second day of hearings at the ICJ, also known as the World Court, in the Hague. The hearing follows a request by the UN General Assembly for an advisory, or non-binding, opinion on the occupation in 2022. More than 50 states will present arguments until Feb. 26.

  • Minister Al-Ibrahim: Saudi Arabia to invest heavily in highly competitive non-oil sectors

    Al-Ibrahim said that the future plan for Saudi Arabia within its Vision 2030 spurred economic growth by inviting private sector investors to participate in creating new opportunities across a host of growing sectors. “The Saudi Vision 2030 is a major topic that is strongly presented in major international forums, especially at a time when many countries are looking for inspiration from the experiments of Saudi Arabia’s successful strategy to learn how to score many achievements at various levels in a record period of time,” he said.

  • The State of Tourism Investment in Saudi Arabia

    Saudi Arabia is investing billions into its tourism ecosystem. How can partners get involved? In this episode of the Skift Travel Spotlight podcast, executives from Riyadh Air and Dida Travel discuss investments in the nation’s travel infrastructure.

  • What’s behind Saudi Arabia’s plan to air-condition Riyadh?

    The scientists developed a method that allows the city to cool down by approximately 4.5 degrees Celsius in the summer while saving 16% on cooling energy use. Part of the suggested strategy is to use ultra-cold-reflecting materials on building roofs, which are advanced construction materials intended to reflect a high percentage of sunlight and minimise heat absorption.

  • SenseTime wins deals in Saudi Arabia in return for investment in domestic firms

    A joint venture formed in 2022 was formed by SenseTime with $207M in support from the Saudi Company for Artificial Intelligence (SCAI) to develop AI applications in the Middle East. The SCAI is owned by the kingdom’s sovereign wealth fund. The terms of the deal stipulate that if the JV is not acquired or does not hold an initial public offering within seven years, SenseTime must buy out the SCAI’s share.