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Positive Economic Data Seen in Latest Saudi Chartbook for January 2021 – Jadwa Investment
- January 4,2021
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- SUSTG Team
A more optimistic Saudi private sector reacting to the start of the vaccine rollout in the Kingdom is is being credited for positive data seen for Saudi Arabia’s economy, Jadwa Investment says in its latest Charbook for the month of January 2021. Saudi Arabia’s non-oil PMI saw a significant monthly rise in November, the latest data available and reported […]
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Saudi-led Coalition Strikes Targets in Yemen after Aden Airport Attacked
- December 31,2020
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- SUSTG Team
Saudi-led coalition warplanes struck targets in Yemen’s Houthi-held capital Sanaa on Thursday in retaliation for attacks in the southern port city of Aden the previous day, including at the airport which killed at least 25, according to reports. The attacks at the Aden airport on Wednesday took place as officials in a government backed by […]
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Trump Administration Approves Nearly $300 Million in Bomb Sales to Saudi Arabia
- December 30,2020
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- SUSTG Team
The Trump Administration’s State Department has approved a possible the sale of nearly $300 million in GBU-39 Small Diameter Bomb I (SDB I) Munitions and related equipment to Saudi Arabia, the latest large U.S.-Saudi security deal to be approved in recent years. The principal contractor will be U.S.-based Boeing, St. Louis, MO.
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Saudi Arabia Joins Dozens of Nations in Blocking International Travel as Mutant Coronavirus Strain Alarms Authorities
- December 21,2020
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- SUSTG Team
Saudi Arabia suspended late on Sunday all international commercial flights for a renewable week except for the foreign flights already in the kingdom which will be allowed to leave, according to reports. The variant, detected in England, is up to 70 percent more transmissible than earlier versions, officials said. People in southeast England, where the […]
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Saudi Arabia’s Economy Still Shrank in 3Q Despite Rebound Trend
- December 17,2020
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- SUSTG Team
Saudi Arabia’s economy shrank more slowly in the third quarter of this year as the government relaxed some measures put in place to curb the spread of the Coronavirus but the oil sector continued to weigh on the Kingdom’s overall economic outlook, according to reports.
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Saudi Arabia Unveils 2021 Fiscal Budget with Spending Reductions, Eying Economic Rebound
- December 16,2020
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- SUSTG Team
Saudi Arabia unveiled a new budget for the 2021 year, cutting spending to rein in a fiscal deficit brought on by a lower oil prices in 2020 and adjusting the Kingdom’s fiscal strategy to a post-Coronavirus pandemic era.
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Declaring Victory over Coronavirus, Saudi Authorities Announce Launch of Covid-19 Vaccination Program
- December 15,2020
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- SUSTG Team
Declaring victory over the coronavirus, Saudi Arabia announced the launch of its Covid-19 vaccination program, a week after approving Pfizer Inc. and BioNTech SE’s vaccine for its citizens. Saudi Arabia recorded only 139 new cases of infection on Sunday, the first time the figure has been under 150 since the pandemic began to take hold […]
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Saudi Arabia Registers Pfizer COVID-19 Vaccine for Import, Distribution in Kingdom
- December 10,2020
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- SUSTG Team
Health authorities in Saudi Arabia have registered the Pfizer-BioNTech COVID-19 vaccine for import and use in the country, state news agency SPA said on Thursday. Saudi Arabia’s Food and Drug Agency registered the vaccine. Procedures necessary for its import and use will begin, the statement said.
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Saudi-Owned Lucid Motors Completes Phase 1 of Arizona Factory Build, Eyes 2021 Production
- December 8,2020
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- SUSTG Team
Saudi-owned Lucid Motors, a forthcoming EV rival to Tesla, announced that it completed the first phase of construction at its factory in Arizona, eying production of up to 400,000 electric cars per year at the facility after future expansions. Lucid completed the first phase of construction of its factory in Casa Grande, Arizona, and is aiming to start […]
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Saudi Prince Turki al-Faisal Offers Harsh Criticism of Israel at the Manama Dialogue Summit
- December 7,2020
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- SUSTG Team
Saudi Arabia’s Prince Turki al-Faisal harshly criticized Israel on Sunday at the Manama Dialogue summit that was remotely attended by Israel’s foreign minister, demonstrating the chasm that still exists between the two nations as reports claim that a deal to establish diplomatic ties may happen soon.
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MUST-READS
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9/11 DocumentsSaudi government did not support Al-Qaeda: CIA report
The once-secret documents, released on Friday, said an investigation carried out by the CIA’s inspector general in 2005 on the agency’s performance prior to and after the 9/11 attacks “encountered no evidence that the Saudi government knowingly and willingly supported Al-Qaeda terrorists.”
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9/11 LawsuitsCan Saudi government evade suit by 9/11 families?
In dueling briefs filed Friday, the Kingdom of Saudi Arabia and the families of people killed in the attacks of September 11, 2001 made their last written arguments to U.S. District Judge George Daniels of Manhattan, who will decide later this year whether the families can bring claims against Saudi Arabia for allegedly helping al Qaeda operatives carry out the 9/11 attacks.
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Saudi WorkforceSaudis continue to opt for government jobs: Construction sector shows improvement
But the construction industry – the most labour intensive part of the private sector – has seen even better results under the Nitaqat system, with a 34% jump in the number of Saudis employed. Saudi workers now represent 10.3% of the construction workforce which is still some way off the 12% the government is targeting, and considerably short of the more ambitious targets set under phase three of the programme, due to be implemented in April 2015.
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Saudi Arabia and 9/11Opinion: Was the Saudi Government Complicit in the 9/11 Attacks?
Moussaoui’s anecdotes about Saudi perfidy are not plausible. Anyone who has read his testimony can see that he is not mentally well, and in any case one of Al Qaeda’s aims was to drive a wedge between the United States and Saudi Arabia so as more easily to overthrow the House of Saud. Most of the Al Qaeda governing board consisted of expatriate Egyptians, part of the al-Zawahiri Egyptian Islamic Jihad, which had merged with Al Qaeda. Yet bin Laden chose Saudi youth as the muscle for the 9/11 operation rather than the numerous Egyptians, Yemenis and other Arab nationalities. In so doing, he was trying to alienate Washington from Riyadh.
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Jobs for SaudisFakeih: The Government plans to create 300,000 jobs for Saudis
Economy and Planning, Finance and Labor Ministries would launch 36 initiatives as part of the scheme.
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Oil SlumpSaudi Economists Advise Government to Base Budget on $45 Oil Price
Saudi economists have advised the government to peg the oil price between $45 and $50 while preparing the national budget for 2015.
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Information TechnologyGovernment IT spending fuels Kingdom of Saudi Arabia’s innovation economy
Overall IT spending in the Kingdom - the Middle East's largest IT market - is set grow by 23 percent from US$ 11.5 billion in 2014 to US$ 14.2 billion in 2017 according to IDC's report 'Saudi Arabia Vertical Markets 2013-2017 IT Spending Forecast'. Government will be the fastest-growing vertical in this period, with a compound annual growth rate of 12.9 percent, according to IDC. Guiding investment is the Kingdom's Ninth Development Plan, which projects a 27 percent increase in government spending from SAR 150 billion in 2009 to SAR 191 billion in 2014.
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