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Recent stories from sustg

  • Opening the TASI: What You Need to Know
     

    Saudi Arabia, the world’s largest oil exporter and the Middle East’s biggest economy, is about to complete a gradual process to open its stock market, known as the Tadawul or TASI, directly to international investors for the first time.  The initial step toward this action was to give other GCC countries the right to invest […]

     
  • Seven years of prosperity and development
     

    Saudi Arabia will mark the seventh anniversary of Custodian of the Two Holy Mosques King Abdullah’s accession to the Saudi throne on May 17 with a variety of programs highlighting the remarkable progress achieved by the Kingdom in education, health, industry, agriculture and other sectors under his wise leadership. King Abdullah’s announcement at the Shoura […]

     
  • Saudi Perspective on the Middle East: Obaid
     

    In this SUSRIS exclusive presentation, the “Saudi Perspective on the Middle East: The View from Riyadh” assessment provides: the background and context for Saudi diplomacy — assets and characteristics; economic and energy data; sources of regional instability; the “New Gulf Union”; profile of Gulf defense configurations; the Kingdom’s role in regional stabilization and its political and […]

     
  • Jadwa: Inflation Report, April 2012
     

    Year-on-year inflation dipped to 5.3 percent in April from 5.4 percent in March. Lower food price inflation was the main reason for the decline. Rental inflation picked up.

     
  • Not a Drop to Drink: The Global Water Crisis
     

    In the next twenty years, global demand for fresh water will vastly outstrip reliable supply in many parts of the world. Thanks to population growth and agricultural intensification, humanity is drawing more heavily than ever on shared river basins and underground aquifers. Meanwhile, global warming is projected to exacerbate shortages in already water-stressed regions, even […]

     
  • Petchem projects lead Saudi industrialization drive
     

    The Saudi project market continues to thrive. Latest data from Meed put the value of projects “planned or underway” at $745 billion in mid-April, around 13 percent higher than a year earlier. These figures need to be treated with some caution: The topline number is some 30 percent larger than the nominal size of the […]

     
  • Journey of a lifetime
     

    To say that I was excited to be in the presence of such history would be an understatement. I had been looking forward to this trip for months and was absolutely beside myself. My purpose was to travel with my mother to Saudi Arabia to perform the Umrah, a mini version of the annual Hajj […]

     
  • Al-Qaida’s wretched utopia and the battle for hearts and minds
     

    Driving east out of Aden, we were just a few hundred metres past the last army checkpoint when we saw the black al-Qaida flag. It flew from the top of a concrete building that had been part-demolished by shelling. From here into the interior, all signs of control by the government of Yemen disappeared. This […]

     
  • Positive Steps: Interview with Saudi Minister of Finance Al Assaf
     

    The industrial sector is the real excitement for us, which is growing at a rate of 15 per­cent, which is not a joke. The other one is service sector, like the financial services or the restaurant and hotels or other services in the economy. A particular sector that we are excited about is the mineral […]

     
  • “Milestone” oil manipulation case unsettles traders
     

    U.S. regulators’ $14 million settlement with high-frequency trading firm Optiver over oil price manipulation in 2007 is a “milestone” victory in their toughening stance on market malfeasance which is being closely watched by traders. In its first major case against an algorithmic trader, the Commodity Futures Trading Commission said late on Thursday that a court […]

     

MUST-READS

  • MBC Group Announces Plans To Float 10% Stake On Saudi Stock Exchange

    Saudi Arabian media giant MBC Group has announced its intention to float a 10% stake in an Initial Public Offering (IPO) on the Saudi Exchange, known as Tadawul, in the coming months.

    The announcement follows a decision on Tuesday by Saudi Arabia’s Capital Market Authority to allow MBC to float 33.25 million shares, which is equivalent to 10% of the company’s share capital. The approval is valid for six months.

  • Exploring the Crossroads of Cultures: Saudi Arabia’s Riyadh International Philosophy Conference on Trans-cultural Values

    As a key player in various industries and sectors, Saudi Arabia continues to forge ahead with its ambitious Saudi Vision 2030 goals. This year, the Kingdom takes a significant step in the realm of philosophical engagement by hosting the third annual Riyadh International Philosophy Conference from December 7th to 9th. The conference's theme, 'Trans-Cultural Values and Ethical Challenges in the Communicative Age', represents a substantial highlight on the global philosophical calendar for the year 2023.

  • What Saudi crown prince’s call to stop weapons exports means for Israel

    Saudi Crown Prince Mohammed bin Salman (MBS) called on the international community to cease weapons exports to Israel on Monday, a statement that reflects increased pressure from Riyadh to de-escalate the Israel-Hamas war and complicates Washington's efforts to get Saudi Arabia and Israel to normalize ties. MBS made the remarks at an extraordinary virtual summit of the BRICS alliance. He said that he “demands that all states stop exporting weapons to Israel” in a video statement published by the Saudi government-funded news outlet Al-Arabiya. Read more: https://www.al-monitor.com/originals/2023/11/what-saudi-crown-princes-call-stop-weapons-exports-means-israel#ixzz8JnoDd1cu

  • Contractors to start work in 2024 on Saudi Landbridge

    In a report published by the local Arabic daily Aliqtisadia on Tuesday 21 November, Suleiman al-Mazrou, CEO of the NIDLP, said that the negotiations regarding the implementation of the project have reached advanced stages. Earlier this year, Transport & Logistics Minister Saleh al-Jasser said in a forum in Riyadh that Saudi authorities are undertaking negotiations with the Saudi China Landbridge Consortium (SLCC) to determine the final cost and financing of the project. The SLCC signed a memorandum of understanding to implement the project on a public-private partnership basis in October 2018. The SLCC was formed by Saudi Railway Company (SAR) and China Civil Engineering Construction Company.

  • Saudi Arabia’s Upcoming 2024 Tax Reforms: The Proposals

    These proposed reforms are intended to be made through amendments to the Kingdom’s Income Tax Law. Last month, Saudi Arabia’s Zakat, Tax and Customs Authority (ZATCA) released draft laws seeking public input on changes that aim to overhaul the tax code in line with its Vision 2030 economic agenda. The proposed law represents a significant reform, aiming to modernise the tax system in line with global best practices. Key changes under consideration include more stringent residency rules, expanded tax bases, and alignment with international standards on issues like transfer pricing and preferential tax regimes.

  • Eurofighter Middle East Sales Could Be Bolstered If Germany Lifts Saudi Ban

    Germany is reportedly reconsidering its five-year ban on selling additional Eurofighter Typhoon fighter jets to Saudi Arabia amid the rapidly shifting circumstances in the region. If Berlin does ultimately reverse its ban and authorizes sales to other Middle Eastern countries, the Eurofighter could give France’s Dassault Rafale much-needed competition in that region’s lucrative arms market.

    The Israel-Hamas War has sparked renewed debate in Germany over the policy of blocking Britain’s sale of 48 jets to Riyadh, according to a report in the Financial Times.

  • WHO chief praises Saudi medical programs that improve patients’ care globally

    Director General of the World Health Organization (WHO) Tedros Adhanom Ghebreyesus praised Saudi Arabia's medical programs, carried out by the King Salman Humanitarian Aid and Relief Centre (KSrelief), that aimed at improving the health situation of patients and injured people around the world.

    Ghebreyesus made the remarks during a meeting with the Advisor to the Royal Court and Supervisor General of KSrelief Dr. Abdullah Al Rabeeah, on the sidelines of the Global Food Security Summit held in London.

  • Zain to offload remaining Saudi tower stake

    Zain Saudi Arabia announced it would sell the remaining 20 per cent stake it owns in its tower business to the country’s Public Investment Fund (PIF) for SAR726 million ($194 million). In a stock market statement, the operator revealed it would divest its holding in Golden Lattice Investment Company after PIF exercised its option to buy the stake, which was part of a deal to sell the other 80 per cent announced in 2022.

  • AlUla Tour to welcome world’s best cyclists to Saudi Arabia in 2024

    Some of the world's best cyclists and teams will head to Saudi Arabia at the start of next year after organisers announced the dates for the rebranded AlUla Tour.

    Formerly known as the Saudi Tour, the race returns for a fourth edition and takes place from January 30 to February 3. It will be organised by the Ministry of Sport and The Royal Commission for AlUla in cooperation with the Saudi Cycling Federation and the International Cycling Union (UCI).

  • Gulf Broadcaster Hires HSBC and JPMorgan for Saudi IPO

    The Middle East’s biggest broadcaster MBC Group hired HSBC Holdings Plc and JPMorgan Chase & Co. for what could be one of the year’s highest profile initial public offerings in Saudi Arabia. After receiving approval from the local market regulator, MBC will sell a 10% stake, or 33.25 million shares, in a capital raise in the IPO, according to terms of the deal obtained by Bloomberg News.