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U.S. Commerce Secretary: Saudi Economy at an ‘Exciting moment as it moves to a more knowledge-based economy’ – VIDEO
- September 23,2013
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- Lucien Zeigler
In her keynote address to the U.S.-Saudi Business Opportunities Forum in Los Angeles, the Honorable Penny Pritzker, U.S. Secretary of Commerce, noted that the United States and Saudi Arabia have a strong trade and investment relationship which has tripled in the last decade. The more than 1,100 private sector and government leaders from both the […]
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More Photos: The U.S.-Saudi Business Opportunities Forum in Los Angeles, California
- September 21,2013
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- Lucien Zeigler
The U.S.-Saudi Business Opportunities Forum concluded on Wednesday, September 18th, with over 1,100 businessmen and government leaders from the United States and Saudi Arabia meeting at the J.W. Marriott L.A. LIVE to build commercial relationships between the two countries. SUSTG is a primary organizer of this Forum, the third in a series that includes events […]
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PHOTOS: A first look at photos from the U.S.-Saudi Business Opportunities Forum in Los Angeles
- September 19,2013
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- Lucien Zeigler
The U.S.-Saudi Business Opportunities Forum in Los Angeles concluded here yesterday with over 1,100 attendees. Participating companies and officials from both the United States and Saudi Arabia gathered to network with new opportunities and to listen to keynotes, plenary discussions and breakout sessions covering numerous sectors that are key to building and sustaining lasting business […]
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Keynote Address: His Excellency Dr. Tawfig Alrabiah
- September 18,2013
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- SUSTG Team
His Excellency Dr. Tawfig Alrabiah delivered the keynote address on Tuesday morning to attendees of the U.S.-Saudi Business Opportunities Forum in Los Angeles, California. Click below for the video.
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#ussaudiforum: $1 trillion projects – KSA woos American investors
- September 17,2013
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- SUSTG Team
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Saudi’s Tadawul: What foreign investors might expect
- August 27,2013
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- SUSTG Team
Nandagopal J. Nair in Quartz discusses what foreign investors might expect from Saudi Arabia’s $400 billion stock market:
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How stable is Saudi Arabia? Five experts consider the question.
- August 20,2013
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- Richard Wilson
Sada, the Carnegie Endowment for International Peace’s online journal focusing on the Middle East, poses the question, Is Saudi Arabia Stable?, to five experts. The responses look closely at trends that could threaten Saudi stability. Though occasionally dire, they are generally thoughtful and the points of emphasis are varied. They are also short and to the […]
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Saudi Arabia Gives $100m to UN Counter-Terrorism Center
- August 8,2013
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- Lucien Zeigler
The Royal Embassy of Saudi Arabia today announced in a distributed press release that the Kingdom has donated $100 million to the U.N. Counter -Terrorism Center on occasion of the Eid Al-Fitr, the end of Ramadan. “I announce the donation from the Kingdom of Saudi Arabia of $100 million to support this center and work for its activation under […]
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‘Oil Kingdom’: Saudi Economy Expert Says Shale is the New ‘Peak Oil’ and that Saudi Arabia Still Rules Energy Markets
- August 7,2013
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- SUSTG Team
Saudi Economy expert John Sfakianakis, formerly with Banque Saudi Fransi and now Chief Investment Strategist for MASIC, pens an analysis in Foreign Policy about how Saudi Arabia’s oil production will outlast the shale craze in the United States:
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$7 Billion Deal Inked Between U.S.-Based Fertilizer Giant Mosaic Company and Ma’aden, SABIC
- August 5,2013
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- Lucien Zeigler
U.S.-based fertilizer giant Mosaic Company signed a $7 billion contract with Saudi Arabia Basic Industries (SABIC) and the Saudi Arabian Mining Company (Ma’aden) for a 3.5 million ton phosphate operation in the Kingdom, according to a press release issued today. “The estimated $7 billion greenfield project, to be known as Wa’ad Al Shamal, or Northern Promise, Phosphate Project, […]
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MUST-READS
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Saudi crown prince discusses design origins of The Line, the Kingdom’s iconic megacity
“In Miami, when you get out of your office, you are on vacation — immediately you are next to entertainment, culture, sport and retail,” he said. “We are competing with Miami.” Residents of The Line will only have a five-minute walk to reach all facilities and high-speed rail will provide an end-to-end transit of 20 minutes.
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Spark, Hutchison sign Saudi dryport concession agreement
King Salman Energy Park (Spark) and Hutchison Ports have signed a concession agreement for the operation and management of the dry port and bonded logistics zone located within the 50 sq km global energy hub in the Eastern Province of the kingdom. The concession was awarded to a newly established company, Energy City Logistics Company (ECLC), a joint venture between Spark and Colour Path Holdings Limited, a Hutchison Ports company.
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Perspective: From revolutions to rapprochement – The end of the ‘2011 era’ in the Middle East?
Though ideologically inconsistent, the key feature of all these states’ actions was a growing rivalry with governments in the other blocs in reaction to their Arab Spring policies. Some of these rivalries were pre-existing but amplified by post-2011 events, such as Saudi Arabia and the UAE’s tensions with Iran, but some were newer, notably Riyadh and Abu Dhabi’s clashes with Ankara and Doha
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Jeddah confirmed as host city for 2023 Club World Cup
The 2023 Club World Cup will take place in Saudi Arabian city of Jeddah, soccer's world governing body FIFA said on Monday. The decision was made following a FIFA delegation visit to Jeddah last week to assess ongoing preparations for the tournament. "We are delighted that Jeddah, with its state-of-the-art facilities and reputation for hosting major international sports events, has been selected as host city for the FIFA Club World Cup," President of SAFF Yasser Al Misehal said.
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Chart: China Still Favored Over U.S. In MENA, But Losing Ground
According to the survey, the share of people saying they wanted stronger economic relations with China has dropped in many of the countries since the same question was asked in 2018-19. Jordanians and Palestinians are now 20 percentage points less likely to want stronger economic ties with China than before, while Sudan saw a 14 percentage point decrease and Libya and Morocco a 13 percentage point decrease. In terms of the U.S. there has not been as widespread a decline since 2018-19. Only the Palestinian territories (-10 p.p.) and Jordan (-9 p.p.) have seen major declines while Sudan (-2 p.p.) and Morocco (-1 p.p.) saw smaller drops and Iraq (+11 p.p.), Tunisia (+9 p.p.) and Libya (+6 p.p.) saw increases.
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Football’s Coming Home: Saudi League and Fan Base Get a Big Boost
Privatization is one of the core objectives of Vision 2030 and has already included sectors such as education, health care, and transportation. While the Public Investment Fund is still government owned, privatization plans aim to outsource the management of different sectors that were once dependent on government funding in order to lessen the dependency on oil. The move also aims to motivate and attract interest in investing in the sports scene from both domestic and global sponsors.
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Defying high prices, Muslim pilgrims head to Mecca for haj
Palestinian pilgrim Abu Anas Abu Rahal was hoping to find cheaper lodgings for a week-long stay in Islam's holiest sites in Saudi Arabia, as the minimum cost for the haj pilgrimage climbed to 26,000 riyals ($7,000) this year. His options were limited. The 65-year-old struggled to pay the bill despite choosing the cheapest-offered package, which included travelling to Saudi Arabia by land and sharing hotel rooms with other pilgrims. "I was asking for a fourth option, with a farther hotel which could be half cheaper. The prices and the choices that have been given are embarrassing to be honest," Abu Rahal said, adding that pilgrims last year paid the same price for a package that included flights.
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PGA Tour sends 6 page ‘framework’ agreement on deal with LIV Golf to Congress
Monahan repeatedly called the deal a “framework agreement” when it was first announced, and there are plenty of details that still need to be figured out. Both the Tour and LIV Golf have filed motions to dismiss their litigation against each other. The framework agreement said the sides will work to find a way to allow LIV Golf members to rejoin either Tour after the 2023 season, though it’s still unclear what fine or penalty they will face.
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PGA Tour sends 6 page ‘framework’ agreement on deal with LIV Golf to Congress
The PIF will be a “premier corporate sponsor” of both the Tour and DP World Tour, and will be a title sponsor for at least one high profile event.
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‘Economic warfare’: Yemenis struggle despite ease in fighting
The market trader Eiad al-Alimi expected better business this year, following a lull in fighting and renewed efforts to end Yemen's eight-year-long conflict. But a grinding economic crisis -- marked by a collapsed currency and deepened by import bans and attacks on critical oil infrastructure -- has put holiday cheer on hold. "We had high expectations," Alimi told AFP from the southern city of Aden, the stronghold of the ousted government, as dozens of unsold sheep grazed behind him.
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