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Recent stories from sustg

  • US Election Note: Middle East Policy after 2012
     

    The Middle East will be a significant challenge to US foreign policy-makers during the next administration – whether with regard to further transitions of the Arab Spring, Iran’s appetite for nuclear weapons, Israel’s posture towards Palestine and other Arab powers in its neighbourhood, or the rise of political Islam. Despite the US tilt to Asia, […]

     
  • A Conversation with Prince Turki Al-Faisal
     

    Few can be said to have been more influential in forging cooperation and building bridges in the relationship than Prince Turki Al-Faisal. He is currently Chairman of the King Faisal Center for Research and Islamic Studies and is one of the founders of the King Faisal Foundation, the namesake of which was his father. His […]

     
  • Saudi Arabia: Rising steel demand
     

    Steel producers in Saudi Arabia are set for a busy few years, with growth in the industry driven by rising demand due to state-backed investments and increasing activity in the private sector. However, even with additional capacity, the sector is working to bridge the supply gap. The Kingdom is already the largest steel producer in […]

     
  • Roads of Arabia at the Smithsonian’s Sackler in Washington
     

    In archaeology, Saudi Arabia has been something of a slow starter, but a Washington exhibition of more than 200 statues, funerary objects and other relics shows that the study of the region’s past has come of age. Saudi archaeology “really goes back only 40 years,” says Massumeh Farhad, chief curator and curator of Islamic art […]

     
  • Major natural gas find by Saudis. A shift ahead?
     

    Saudi Arabia has announced that they made a major new find in natural gas in the Red Sea. The Saudis are already ranked 5th in the world for their reserves of natural gas, but they are only ranked 9th in terms of production of the commodity. They account for about 3 percent of world natural gas production. Compared […]

     
  • Anne Habiby: Entrepreneurship and Job Creation in the Arab World
     

    In addition to featured speakers such as President Bill Clinton and Mr. Abdullah Alireza  the recent C3 Summit in New York City presented a number of compelling panel discussions addressing commercial and trade issues related to doing business in the MENA region. SUSTG has featured the remarks at this event of Abdullah Alireza (Global Economic […]

     
  • Saudi best in MidEast for doing business
     

    Saudi Arabia is the best country in the Middle East for doing business, according to a new study published by the World Bank. The Gulf kingdom, the world’s largest oil producer, was ranked 22nd globally in the ‘Doing Business 2013’ report, ahead of neighbour the UAE which placed 26th. Elsewhere in the GCC, Qatar came […]

     
  • The Saudi Economy: Still Shining
     

    A recently released October 2012 economic report by Jadwa Investment finds that a recent flow of data has been generally stronger than expected, and as a result of high oil production (which elevates the hydrocarbon sector growth to 6.1 percent for the year) Jadwa raises its projections for Saudi Arabia’s budget and current account surpluses. […]

     
  • Energy policy: What we need to talk about
     

    For starters, the United States is already over 80 percent (up from 70 percent a decade ago) self sufficient when it comes to energy production and use. We are routinely described as the Saudi Arabia of coal, and have the largest nuclear fleet in the world. We are the world’s largest natural gas producer and […]

     
  • Randa Hudome: How do I get my business over to the Middle East?
     

    In addition to featured speakers such as President Bill Clinton and Mr. Abdullah Alireza the recent C3 Summit in New York City presented a number of compelling panel discussions addressing commercial and trade issues related to doing business in the MENA region.

     

MUST-READS

  • Saudi Arabia Raises Asia Oil Price as Volatility Grips Market

    State producer Saudi Aramco increased the official selling price of its main Arab Light crude grade by 90 cents to a premium of $2.20 a barrel against the regional benchmark for buyers in Asia, according to a price list seen by Bloomberg. The company was expected to boost the premium by 65 cents a barrel, according to a survey of traders and refiners.

  • New $100 Million Saudi Film Fund Chief Talks Need for Investments in Production and Infrastructure

    Saudi Arabia in September launched a $100 million film fund aimed at attracting investments from global film studios to help fuel the kingdom’s rapidly growing local film industry. The Saudi Film Fund – as the fund is known – sees Saudi’s Cultural Development Fund making a 40% investment in collaboration with investment bank MEFIC Capital and specialized holding company Roaa Media Ventures, which is its technical partner.

  • Countdown to Middle East war? How the region can step back from the brink

    With Israel poised to attack Iran, having already blindsided friends and foes alike with its blitz against Lebanon's Hezbollah movement, all the talk is of an inexorable slide towards a new, pan-Middle Eastern war. Yet brakes remain to halt a regional fall into a wider conflagration that would lock Israel and Tehran into escalating conflict and suck in other nations, according to several people with experience in intelligence and military decision-making.

  • Saudi Arabia launches insurance for expat dues

    Saudi Arabia’s Ministry of Human Resources and Social Development (HRSD), in cooperation with the Insurance Authority (AI), launched an insurance product to cover the dues of expatriate workers employed in private sector firms facing financial difficulties. The initiative aims to protect workers and mitigate the impact of not receiving their financial rights in the event that companies are unable to meet payroll obligations for a specified period.

  • Secretary Blinken’s Call with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud

    Secretary of State Antony J. Blinken spoke today with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud.  The Secretary and the Foreign Minister discussed the need for full implementation of UN Security Council Resolution 1701 to allow for the return of civilians on both sides of the Israel-Lebanon border to their homes.  They noted ongoing efforts to fund and support the Lebanese Armed Forces and the importance of international support for UNIFIL.  They also discussed the urgent humanitarian situation in Lebanon and response efforts, including the recent U.S. announcement of nearly $157 million in assistance.

  • Saudi Arabia’s Almarai reports 17% jump in Q3 profit on revenue boost

    Saudi Arabia’s Almarai, the Middle East’s largest dairy company, reported a 17 per cent annual rise in its third-quarter net income, as revenue grew on the back of higher sales of food and dairy products. Net profit for the three months to the end of September climbed to 570.5 million Saudi riyals ($152 million), the company said in a bourse filing on Sunday to the Saudi stock exchange Tadawul, where its shares are traded.

  • Saudi Arabia Releases Next Round of Tenders For Wind And Solar Projects

    Through the NREP, Saudi Arabia is pursuing a structured plan to diversify local energy sources. Since the start of the program, projects with a total capacity of 19 GW (19,000 MW) have been awarded so far. Further tenders, such as the tender for new wind and solar parks announced in September, are intended to give the expansion an additional boost. The aim is to generate 50 percent of electricity from renewable energies by 2030.

  • Hill International secures PMC contract for key Saudi airports

    Hill International has been awarded a major contract by Dammam Airports Company (DACO) to provide project management consultancy services for multiple improvement projects at its key projects - King Fahd International, Al Ahsa International and Al Qaisumah International (AQI) airports. Announcing the key contract, Hill International said the majority of its PMC work will support operations at King Fahd International Airport.

  • Saudi Arabia stresses balance between economic growth, energy security, and climate action

    Saudi Arabia's Minister of Energy, Prince Abdulaziz bin Salman, stressed the importance of achieving a balance between economic growth, energy security, and climate change mitigation. He made his remarks during his participation in the Energy Transitions Working Group meetings, the 15th Clean Energy Ministerial, and the 9th Mission Innovation Ministerial, held on October 3 and 4 in Foz do Iguaçu, Brazil. The minister highlighted Saudi Arabia's leadership in Carbon Capture, Utilization, and Storage (CCUS) technologies, reiterating the Kingdom's commitment to leading global efforts through its adoption of circular carbon economy technologies.

  • Saudi Stocks Face Rising Risks as Regional Conflict Deepens

    The Tadawul All Share Index index slipped 3.7% in the first four trading days of October, as Israel intensified its campaign against Iran-backed Hezbollah and weighed retaliation for Tehran’s missile attacks. While the gauge spent months shrugging off simmering tensions and weak oil prices, the latest setback has wiped out its entire year-to-date gain.