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Recent stories from sustg

  • Riyadh among lowest risk cities in Mideast
     

    Riyadh is among the lowest risk cities in the region, with a rating that puts it ahead of international business hubs such as Milan, Lisbon, Istanbul and Moscow, according to the findings from the 2012 People Risk Index, created by Aon Hewitt, the global human resources business of Aon plc. The Aon Hewitt 2012 People […]

     
  • Jadwa Chartbook June 2012: Trade
     

    Riyadh-based Jadwa Investments recently released its June, 2012 Saudi ‘Chartbook’ which includes updates on the Saudi economy, trade, oil metrics as well as assessments of various sectors including banking. Below is a snapshot of Jadwa’s analysis of Saudi imports and exports and letters of credit. 

     
  • The Middle East fights the Flame, but virus spreads anyway
     

    Two years ago there was Stuxnet, a virus that targeted Iranian uranium-enrichment infrastructure. Now Flame, a mutating piece of malware, is continuing to spread, infecting more than 1,000 Windows-powered computers across the Middle East. It’s centered on Iran, but has also spread to Israel and Palestine, Saudi Arabia, Syria, and even Sudan. Flame is a huge virus — 20 megabytes […]

     
  • Wider world opened to Saudis studying abroad
     

    Wearing the black face-covering veil favoured by Saudi women, Maha Mazyad looked through leaflets for prospective jobs with some of the Islamic kingdom’s largest companies at a recent career fair in Riyadh. A few years ago she would have worried about the disapproving reaction of friends and parents to the notion of a young woman […]

     
  • Jadwa Chartbook June 2012: Banking
     

    Riyadh-based Jadwa Investments recently released its June, 2012 Saudi chartbook which includes updates on the Saudi economy, trade, oil metrics as well as assessments of various sectors including banking. Below is a snapshot of Jadwa’s banking sector analysis.

     
  • Saudi Construction Sector: A Sleeping Giant Awakes
     

    Deloitte’s recently released report, “GCC powers of construction 2012: Five lessons to learn” assesses the current prospects of Saudi Arabia’s construction sector.  Deloitte paints a very optimistic picture noting Saudi Arabia’s leading position in the GCC with regard to population and GDP.  It also highlights the ambitious spending plans established in the latest 5-year development plan announced in […]

     
  • Saudi, Kuwait, UAE lead Q1 GCC corporate earnings growth
     

    Earnings of Saudi Arabian companies totalled $6.7 billion, an increase of 15 per cent YoY and 28 per cent QoQ. SABIC, which reported $1.9 billion in Q1 profits, saw its bottom-line decline by five per cent YoY due to softening of global petrochemical prices when compared to Q1 2011. Saudi Banks continued its stable growth […]

     
  • Key to the kingdom
     

    2012 is likely to be the tipping point for the Gulf’s most ambitious real estate project. If the good results continue, and companies carry on signing up to take advantage of the transport infrastructure coming online in 2013, then KAEC looks set to snowball. But when will the city be fully completed? “Our target is […]

     
  • Oil Prices Fall Below Break-Even for Several Nations
     

    Citibank expects that Russia will have a very turbulent next five years, given their estimate that Brent crude prices will likely settle close to $85 over that time period. Oil producers are beginning to feel the future threat of peak demand for oil caused by multiple factors — including unconventional liquid fuels — breathing down […]

     
  • Islamic funds seek socially responsible roadmap
     

    The Islamic investment sector can widen its customer base by adopting a socially responsible model, according to industry experts, but distribution channels, a sophisticated investor base and incentive schemes need to be enhanced first. The links between Islamic finance and socially responsible investments (SRI) are not new, but the former needs a similar transformation which […]

     

MUST-READS

  • Gazans say hunger is growing, fuelling fears of exodus into Egypt

    Fighting between Israel and Hamas intensified across Gaza on Monday, fuelling fears flagged by the United Nations at the weekend of a breakdown in public order and a mass exodus of Palestinians into Egypt.

    The narrow coastal strip has been under a full Israeli blockade since the start of the conflict more than two months ago and the border with Egypt is the only other way out.

    Most of Gaza's 2.3 million people have been driven from their homes and residents say it is impossible to find refuge in the densely populated enclave, with around 18,000 people already killed and conflict intensifying.

  • COP28 enters crunch time with countries at odds over fossil fuels

     With the COP28 climate talks entering crunch time on Monday, U.N. climate chief Simon Stiell urged countries to come together to reach a final deal for the summit - where they were facing off over whether to call for an end to fossil fuels.

    Stiell said there had been progress in resolving some disagreements over the last day, but warned that "each step back from the highest ambition will cost countless millions of lives".

  • Why Saudi Arabia and private equity have landed stakes in Heathrow

    At the end of last month, Spanish infrastructure group Ferrovial announced it would sell its remaining 25 per cent stake in Heathrow to Saudi Arabia’s PIF and French buyout group Ardian for £2.4bn. But the deal has also raised the prospect that the two new shareholders could increase their stakes further. As part of the terms of Heathrow’s ownership structure, the other shareholders, including Canadian and Australian pension funds, the Qatar Investment Authority and the China Investment Corporation, have the right to sell their stakes to the PIF and Ardian at the same price.

  • Saudi FDI reforms poised to deliver transformative impact

    Saudi Arabia continues to vigorously pursue its reform agenda, with a focus on bolstering foreign direct investment inflows and diversifying investment strategies despite a recent deceleration in its financial account as reported by the Saudi Central Bank and the Ministry of Finance. In the second quarter of 2023, FDI inflows experienced a 21 percent decline compared to the same period last year, amounting to SR6.2 billion ($1.65 billion). FDI outflows, which encompass the capital invested by Saudi entities in foreign countries, reached SR18.34 billion, a 53 percent decrease from the corresponding quarter of the previous year.

  • Six Flags Qiddiya Sneak Peek Construction Footage

    In recent footage we get a glimpse of the Qiddiya City project including Six Flags Qiddiya which is 59% completed ahead of a late 2024 opening, there are also glimpses of Falcon’s Flight the worlds tallest, longest and fastest rollercoaster.

  • NEOM Food Company ‘Topian’ launched to redefine food production, distribution, and consumption

    NEOM announced on Sunday the launch of ‘Topian’, the NEOM Food Company, with the aim of redefining food production, distribution, and consumption through the creation of sustainable and innovative food solutions across 5 vertical pillars.

     NEOM stated that the 5 vertical pillars are: climate-proof agriculture; regenerative aquaculture; novel foods; personalized nutrition; sustainable food supply and ESG. Topian has been launched with the support of the Saudi Ministry of Environment, Water and Agriculture (MEWA), and it is fully aligned with Saudi Arabia’s objectives of achieving the Saudi Vision 2030, spearheading the Kingdom’s efforts to ensure food security, mitigate climate change and achieve net-zero emissions by 2060.

  • Iran and Saudi Arabia to negotiate direct flights

    Iran and Saudi Arabia will start formal talks next week to resume direct scheduled flights between Tehran and Riyadh and other cities, an Iranian official told the state-affiliated news agency ILNA on Sunday.

    Regular flights would be another step towards restoring ties between the two Middle Eastern rivals. A Chinese-mediated agreement in March restored diplomatic relations after years of tension that threatened the security of the entire region and fuelled conflicts in Iraq, Syria and Yemen.

  • Noor Riyadh lights up Saudi Arabia – in pictures

    Noor Riyadh is back for a third year in the Saudi capital.

  • Saudis, Iraq stand firm as COP28 targets fossil fuels

    Oil producers Saudi Arabia and Iraq stood their ground at UN climate talks on Sunday as they faced pressure to drop their opposition to a phase-out of fossil fuels at COP28 in Dubai. With less than 48 hours left before the conference's official end, COP28 president Sultan Al Jaber invited ministers to give their views in a "majlis" -- a traditional Gulf Arab meeting held in a circle. While Jaber called the gathering in an effort to produce a compromise, warning that "failure is not an option", countries held firm in their positions. The European Union and members of Pacific islands states threatened by rising seas reiterated their calls for a phase-out of fossil fuels.  

  • Airline profits to hit $25.7bn in 2024, revenues to pass $960bn: IATA

    Airlines will record profits of $25.7bn next year as the global aviation industry continues a recovery from the Pandemic slump. The International Air Transport Association (IATA) has announced strengthened profitability projections for airlines in 2023, which will then largely stabilise in 2024.
    However, net profitability at the global level is expected to be well below the cost of capital in both years.